Rising costs can be discouraging, nerve wracking and are completely out of our control! So, by trying to manage what you CAN control, like your day to day finances, it can help mitigate those feelings. Here are five ways to combat inflation;
1. Tracking Your Spending: budgeting and understanding where your money is going is the easiest way to identify areas to cut back or find alternatives.
2. 2 Actively Manage Debt: It is important to pay off debt with the highest interest rate first, and then work your way down the list.
3. Utilize Cash Back Opportunities: Engage with your bank about cash back credit cards or bank accounts. That way you are making money while spending it.
4. Coupons, Discounts and Sales Are Your Friends: There are apps that you can get and websites that showcase coupons/sales/ discounts for stores you frequently shop at.
5. Avoid Volatile Investments: now is not the time to be taking risks on stocks for companies carrying a lot of debt.