17 Preparing For Inflation

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

M Inflationary times require us to adjust our spending.  Hindsight shows us what we could have, should have done.  Our recommendation, and its biblical, is get rid of debt.  Interest rates on credit cards don’t change just because that dollar is shrinking in value.

V Next, always, always have a budget and stick to it.  Not glamorous or sparkly, but a simple necessity.  Biblical direction, earn first and then spend less than you earn.  We build margin for that rainy day.  That inflation time, that job loss or health crisis. 

A third recommendation is save money.   In biblical times, you stored grain for lean times. Save for whatever the future brings.

M Lean times are learning times.