I am currently a senior to be in high school, so as of right now, I plan on going to a college/university and extending my education. This way, I will be able to acquire a higher paying job (don't get me wrong, money is not everything, but the price of living is on the rise) to support myself and to live happily; as long as my family and myself are happy and healthy though, I'm good!
Anyhow, how do YOU prepare on handling the increasing cost of living (inflation)?
2007-07-26 16:04:25 · 7 answers · asked by βread⊆ℜumbs™ 5 in Social Science ➔ Economics
Save as much as you can from now. The dollars you save now will have more value in the future. The best rule of thumb is pay God first and yourself second. When you take care of what you are given more will be given to you.
2007-07-27 08:05:05 · answer #1 · answered by Nancy B 5 · 0⤊ 1⤋
Wages more or less keep up with inflation, so if you live within your income now you will be able to maintain your life style even if there is inflation. How ever educational costs and medial care are going up faster than inflation in general so going to college will take an increasing share of your income, and you need to plan for it. The real value of savings will be eroded by inflation unless invested in something that has a return greater than the rate of inflation. Buying a house is a good hedge against inflation.
2007-07-27 00:45:28 · answer #2 · answered by meg 7 · 0⤊ 0⤋
I plan to vote democrat in the next election. That should solve my inflation problem. Right now there a few rich folks hoarding all the money and everyone else is working harder and longer and losing ground in the process.
2007-07-26 23:07:25 · answer #3 · answered by Jason 6 · 0⤊ 1⤋
Budgeting the best I can, with what I have. I strictly make my budget and stick with it. Anything beyond that, is considered a luxury, therefore, I put the extra aside into savings, and make my meals count sensibly. I can do without wants, but not without needs. Thanks for asking.
2007-07-26 23:14:07 · answer #4 · answered by lostrebelchild 4 · 0⤊ 0⤋
There's only ONE way... SAVE every nickle you can squirrel away... Because if you DON'T, Inflation is GOING to- eat your dreams from out ahead of you... SAVE YOUR MONEY...-It's your only hope for a future...
2007-07-26 23:14:34 · answer #5 · answered by Joseph, II 7 · 0⤊ 0⤋
Panhandling.
2007-07-26 23:09:09 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Make more money at work.
2007-07-26 23:07:24 · answer #7 · answered by AZTECAMAN 4 · 0⤊ 0⤋