Resilience Inflation

I’m Miriam  Neff,  and I’m Valerie Neff Hogan, with Wise Women Managing Money

M Financial fluctuations are a reality.  Whether agriculture based economy in the past, or diversified businesses and work today.  Managing what God has entrusted to us is the same, no matter the season.  Earn, and spend less than you earn.

V By some measures today’s inflation rate is 4%.  Which means what cost you $10,000 yesterday costs $10,400 dollars today.  Has our income gone up?  If not, we must reduce some other cost.  What is flexible?  Food, entertainment, clothing, travel. Each person and family is different.  But the facts are not.  Change is needed.

M Resist the temptation to borrow from home equity, or other loans.  Don’t run up credit card debt. Hoping for growing income, easy money?  Not likely. Tomorrow’s reality is unknown.