Secrets To Beating Inflation In Business And Life by WJ Vincent II
Secrets To Beating Inflation In Business And In Life!!!
Have you heard the news? Inflation has started to get a little out of control, and the numbers are much worse even than the government is admitting to. Our Real World Dollar value has shrunk considerably in the last two years alone. There is an endless debate circulating right now to determine what the real world inflation is, the government has come creative ways to downplay the actual number, so if we wanted to we could dig deeper and we would find the numbers to be even worse, and much scarier than the surface ones, but let’s just stick with numbers that are accepted for now, and you can understand even at the “adjusted” numbers things are pretty rough.
According to “USInflationCalculator.Com” 2021 was 7% and 2022 is 7.9% which means we have lost 15% of our purchasing power in the last 2 years alone. Think about that for a second and let it sink in. FIFTEEN PERCENT…of your money is GONE…before you even get it! Most of us have already started to “feel” this with our grocery store trips, filling up the gas tank, and our heating and electric bills. Don’t even get me started on real estate, travel, electronics, construction, all these costs are going up, and accelerating, it is a very scary reality, the kind in which most people don’t want to think about.
Part of living a TriplePLife though is to try and live with a higher awareness level, and avoid ignorance as much as possible. So, we will instead, accept these numbers as a new “challenge” in our lives, and begin making adjustments accordingly. So here are some of the best “Secrets” we could find from some of the world’s most brilliant people when it comes to money and business. Read on to find out how you can Beat Inflation in your own Business and Life!
Forbes, Buffet, and Small Business
Okay, so if you are in business, then oftentimes there is very little that separates your business and your life as far as money is concerned. So let’s cover some secrets to beating inflation from a business perspective. Forbes.Com has put together a nice article that has 14 “Expert Tips” to consider. We don’t necessarily agree with all of these, you can read more about them by Clicking Here, but suffice it to say this is a good starting point to begin thinking strategically about what you can do to beat inflation. We would definitely caution anyone on putting money in a “CD” as that is basically cash, and pays such a small percentage of interest it is the same as just letting your money rot.
If your risk tolerance will accept it, maybe consider holding some bitcoin and then you can lock it in to a higher interest rate payment if you need to “hold” some money for a while. That will at least help offset the loss we are all incurring on our cash. Warren Buffet may not be the best at understanding cutting edge or new technology, but he may be the best there has ever been at accumulating money on money. He is perhaps the best “expert” to consider advice from with the exception of Crypto investments. Here are Warren Buffet’s “Top Tips” to beat inflation, access the article by Clicking Here.
Lastly we discovered a nice article from the Philadelphia Inquirer on how to protect your Small Business. Read the article here “7 Ways To Protect Your Small Business“. One of the secrets to beating inflation in that article we really liked was something they called “shrinkflation” where instead of making across the board price increases, you provide slightly less services or product for the same price. If you can get creative here, it is possible to minimize the inflationary impact in a big way on your small business!
Secrets To Beating Inflation In “Life”
As we mentioned previously, for many of us our business and lives are intertwined in such a way that both are effectively inseparable. Some things we know can help though, are switching to some generic brands within your grocery list, driving a little slower when you can instead of a little faster, and moving the thermostat a couple degrees cooler in the winter and warmer in the summer. It can be tough making the adjustments in the beginning, but the difference to your monthly expenses can go a long ways to offsetting at least some of the inflationary impact on our cashflows. You can read about gas savings in this article from the US Dept. Of Energy.
Sometimes it can be difficult to fully notice or realize the loss of our purchasing power, but trust us when we tell you over time the impact can be brutal. Any steps that we can take to minimize the damage, and maximize our ability to get our money working for us, will go a long ways towards protecting the future of our businesses and lives. Thanks for being a part of the TriplePLife Community. We hope you have found some value in this week’s blog!
“Gold … has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end” — Warren Buffett, letter to shareholders, 2011
Here’s to Empowering your dreams, Igniting Your Passion, and Accelerating Your Prosperity!
WJ Vincent II
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