Why I’m so concerned about inflation 📊
Why I’m so concerned about inflation 📊
I am the kind of person who often over estimates costs and underestimates income and revenues. I tend to take a very conservative approach to life, I’m always worried about the worse case scenario maybe a bit too much. Catastrophizing.
Inflation is a bit of an annoyance now but my real concern is how much it is stealing from my future. Every dollar I spend now on more more expensive gas and food is a dollar that I don’t have for my future to grow and eventually buy the big things I want – land, equipment, animals. And the thing is I’m particularly hard hit by inflation because I drive a big jacked up truck and food because I have very basic tastes.
I see inflation every time go to the grocery store, gas up or wash my truck. Everything just seems like it’s getting more expensive. Even recycling at the transfer station is more these days. I make a lot more money than just a few years ago, but I don’t make that extra money to just blow it on today’s inflated prices. I want to save it for a better tomorrow.
Truth be told, my bimonthly savings and investments have been good over the past decade. Things have grown well, much faster than the rate of inflation. Some very well. But it’s getting harder to beat inflation and get good returns with prices going up so quickly. Years ago I bought some energy stocks but stopped adding to it after many years of lackluster growth and endless yearly taxable dividend payments. I probably also keep too much in ordinary “high–er” interest savings and CDs but I want to have something to fall back on should I lose my job, get seriously injured or need to junk my truck.
Lately I’ve cut out all but essential trips like visiting my elderly parents once a week and a one a week drive to the grocery store. In March I drove all of 116 miles, walking 178 miles and riding city buses 278 miles. I’ve had the heat off for several weeks, I avoid having the lights on at night and unplug everything when not in use.
I’ve done the peanut butter and jelly sandwiches and even tried lentils. I’m not a big fan of lentils – they’re such a yuppie food and kind of stinky too boot. I mean their not bad, and pretty cheap but by the time you add spices they’re not a big savings. I’d rather just do ordinary pasta. I rarely eat meat and while I’m a big fan of dairy, it just gets harder and harder to cut food expenses especially when even bulk packages at Walmart are increasing in prices.
Ultimately, I do have faith that my variety of investments will grow faster than inflation. Even as I grumble at the grocery store, I’m living within my means even if at times the budget is tight. Lately it hasn’t been quite as crunched although when I start traveling more come summer, costs will escalate. I’m a lot better off than many and if I stay the course, live frugally, a better tomorrow will come even if inflation poses challenges today.
1 Comment
The global(ist) central banks have now proven beyond any doubt that their counterfeit money is no reliable store of value. In a totally corrupt environment like the one we now live in, ANY paper instruments stating ownership of anything are shaky at best in future, but useful actual physical commodities in your possession may be the best you can do. Even fuel degrades over time, so I would never store more than I could use in 6 months. Almost all canned food, on the other hand, will last years beyond its stated expiration dates if stored in a cool dry place. Same goes for dried grains and beans. I live in a place where water is abundant, and have always been against fracking where I am. If others elsewhere don’t care about their water enough, that’s their business. You can probably live a better life against consumerism generally, but you need what you need and nothing less. People are brainwashed into confusing wants with needs. Think very carefully about what you want before you buy! People who have no more than their hands out are doing best right now, until the music stops, and it will, very soon. If you plan on staying in one place, you better have some ammo, too. They will be visiting you. If all that sounds survivalist, so be it. I am not thrilled with it, and not planning on enduring it very long when it happens. Try to enjoy life while you can. Wanna live forever?