{"id":9188,"date":"2023-01-20T22:46:29","date_gmt":"2023-01-20T20:46:29","guid":{"rendered":"https:\/\/learn.thndr.app\/?p=9188"},"modified":"2024-07-31T13:15:45","modified_gmt":"2024-07-31T11:15:45","slug":"how-to-adjust-your-budget-after-inflation","status":"publish","type":"post","link":"https:\/\/thndr.horizondm.com\/learn\/how-to-adjust-your-budget-after-inflation\/","title":{"rendered":"How to adjust your budget after inflation"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"9188\" class=\"elementor elementor-9188\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3f7d2846 elementor-section-boxed elementor-section-height-default elementor-section-height-default rt-parallax-bg-no\" data-id=\"3f7d2846\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2bd0fbc1\" data-id=\"2bd0fbc1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-40919e8c elementor-widget elementor-widget-text-editor\" data-id=\"40919e8c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">During uncertain times, it is important to have a plan on how to navigate. In the art of war, the great San Tzu says \u201cPlan for what is difficult while it is easy.\u201d In other words, you need to take an action before things get bad. But, this article is not about war tactics. It\u2019s about implementing a strategy to go through economic turmoil safely with minimum losses.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Certainly, inflation isn\u2019t good news for many. But there are simple strategies that you could implement<\/span> <span style=\"font-weight: 400;\">to help you cope during these trying times.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you need to take a step back to understand what inflation is, check out <\/span><a href=\"https:\/\/learn.thndr.app\/inflation-the-time-value-of-money\/\"><span style=\"font-weight: 400;\">this article<\/span><\/a><span style=\"font-weight: 400;\">. Ready? Let\u2019s dive right in.&nbsp;<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Find cheaper alternatives&nbsp;<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Who wouldn\u2019t want to buy the same t-shirt for a lower price? Finding cheaper alternatives will help you reduce your expenses and increase your saving without drastically changing your quality of life. And it\u2019ll eventually add up, helping you in cutting costs and keeping you afloat during challenging times.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">How? Here are a few things to try:&nbsp;<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Compare prices at different stores or online retailers before you buy anything. You can do that with ease through<\/span> <a href=\"https:\/\/eg.pricena.com\/en\"><span style=\"font-weight: 400;\">this link<\/span><span style=\"font-weight: 400;\">&nbsp;<\/span><\/a><\/li>\n<li><span style=\"font-weight: 400;\">Use promo codes whenever possible. They\u2019ll save you a ton of money.&nbsp;<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Forget the fancy window displays, you can buy the same product from outlets and discount stores at a cheaper price.&nbsp;<\/span><\/li>\n<li><span style=\"font-weight: 400;\">If you\u2019re okay with slightly compromising the quality, you might look for used or refurbished options.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Look for locally-produced options, they&#8217;re usually less cheaper.&nbsp;<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Budgeting&nbsp;<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This tip goes without saying. The first step to making good use of your money is to know where your money is going, and it is greatly needed during times when the value of your money is decreasing. Budgeting will empower you to put your money into the things that matter the most to you. and avoid overspending.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Planning your spending doesn\u2019t mean restricting yourself. It can be fun too! You can budget to save up for a trip to Europe or a new phone or a streaming subscription.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">How? Check out our <\/span><a href=\"https:\/\/bit.ly\/budgeting-EN\"><span style=\"font-weight: 400;\">budgeting tool<\/span><\/a><span style=\"font-weight: 400;\">. It\u2018ll help you track your spending with ease.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Hedging&nbsp;<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Hedging is a strategy that aims to protect one\u2019s money from market changes and high inflation rates. It\u2019s like a safety net that can offset potential losses, protect the value of your money, and potentially make gains during difficult market conditions.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can hedge your money against inflation by investing in gold. Gold is known to hold its value and even increase during periods of inflation. Another way to hedge your money against currency devaluation is to invest in companies that bring revenues in foreign currencies. <\/span><a href=\"https:\/\/thndrclaps.thndr.app\/2023\/01\/04\/an-egp-hedging-theme-on-thndr\/\"><span style=\"font-weight: 400;\">Here<\/span><\/a><span style=\"font-weight: 400;\"> you\u2019ll find all you need to know about investing in companies with partial FX revenues on Thndr.&nbsp;<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Avoid installments &amp; debts<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In the finance lingo, paying by installments means breaking down a big payment into smaller, regular payments over time. While it might be a convenient option for some, yet it has many drawbacks that can leave you in debt, including high-interest rates and the risk of overspending.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hence, it\u2019s smart to cut off debt options from your dictionary, especially in times of economic turmoil. Who would want to be in debt?&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t worry, it\u2019s never too late. If you want to get out of debt, check out <\/span><a href=\"https:\/\/learn.thndr.app\/3-ways-to-get-out-of-debt\/\"><span style=\"font-weight: 400;\">this piece<\/span><\/a><span style=\"font-weight: 400;\">.&nbsp;<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Increasing your income&nbsp;<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This tip seems obvious, but you can work on increasing your income to match the current inflation rates.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are some ideas:&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Freelancing in a skill that you already have, like programming, writing, or graphic design&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Selling your unwanted stuff online&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Renting out a property&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Participating in paid online surveys\/focus groups&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Starting a YouTube channel and maybe you can monetize it&nbsp;&nbsp;<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">The wrap-up<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Making little tweaks to your financial practices can go a long way. One of the best habits that you can build for yourself is to live within your means, especially in times of currency devaluation and high inflation rates. Be your own money superhero!&nbsp;<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-53372293 elementor-section-boxed elementor-section-height-default elementor-section-height-default rt-parallax-bg-no\" data-id=\"53372293\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-71deb8a8\" data-id=\"71deb8a8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b2c5a92 elementor-mobile-align-justify elementor-widget elementor-widget-button\" data-id=\"7b2c5a92\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/learn.thndr.app\/4-ways-to-make-passive-income\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-arrow-alt-circle-left\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Previous Post<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-73b3f81c\" data-id=\"73b3f81c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-15ba4dae elementor-align-right elementor-mobile-align-justify elementor-widget elementor-widget-button\" data-id=\"15ba4dae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/learn.thndr.app\/healthy-financial-habits-to-pick-up-in-2023\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-arrow-alt-circle-right\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Next Post<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>During uncertain times, it is important to have a plan on how to navigate. In the art of war, the great San Tzu says \u201cPlan for what is difficult while it is easy.\u201d In other words, you need to take an action before things get bad. But, this article is not about war tactics. It\u2019s [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":9189,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[447],"tags":[89,170,80,96],"class_list":["post-9188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-everything-else-investing-en","tag-finance","tag-inflation","tag-investment","tag-personal-finance"],"_links":{"self":[{"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/posts\/9188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/comments?post=9188"}],"version-history":[{"count":2,"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/posts\/9188\/revisions"}],"predecessor-version":[{"id":20355,"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/posts\/9188\/revisions\/20355"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/media\/9189"}],"wp:attachment":[{"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/media?parent=9188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/categories?post=9188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thndr.horizondm.com\/learn\/wp-json\/wp\/v2\/tags?post=9188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}