These are a few things I’m doing to counteract inflation in 2023. If you do this right, you can save thousands of dollars depending on how much you make/spend.
everything mentioned in this video:
CREDIT CARD
-3% Cashback Credit Card:
BANKING
SoFi 4.0% APY Savings Account:
Capitol One 3.4%:
INVESTING APPS
-Sofi Investing:
-Public:
-Robinhood:
Rakuten:
Series I Bonds:
This video is not sponsored, these are all companies that I use myself. I’ve used the referral links they each provide so that we can both get a bonus!
disclaimer: this is not financial advice. consult a financial advisor for your situation.
0:00 Inflation is out of control
0:48 #1 trader joes
2:10 #2 – 3% cashback credit card on EVERYTHING
3:59 #3 – high interest savings account
5:15 how they can pay higher savings account rates
8:09 #4 – Investing in 2023
11:01 #5 Extra cashback with Rakuten
12:34 Series I Bonds
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For business inquiries please contact shelby.church@a3artistsagency.com and churchshelby@gmail.com…(read more)
LEARN ABOUT: Investing During Inflation
REVEALED: Best Investment During Inflation
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HOW TO INVEST IN SILVER: Silver IRA Investing
6 Things You NEED to Know to Fight Inflation
Inflation – the gradual rise in the prices of goods and services over time – is a concern for individuals and economies alike. It erodes the purchasing power of money and can have a negative impact on savings, investments, and overall economic stability. In order to protect ourselves from the effects of inflation, it is important to understand its causes and how to combat it. Here are six things you need to know to fight inflation:
1. Understand the causes: Inflation can be caused by various factors, including excessive increases in the supply of money, increases in production costs, and changes in consumer spending habits. Central banks play a crucial role in managing inflation by implementing monetary policies that aim to control money supply and interest rates.
2. Monitor economic indicators: Keeping an eye on key economic indicators can provide valuable insights into the state of the economy and potential inflationary pressures. Indicators such as consumer price index (CPI), producer price index (PPI), and wage growth can help gauge the pace of inflation and inform your financial decisions accordingly.
3. Diversify your investments: Inflation erosion can be particularly detrimental to traditional savings accounts. To counter this, diversify your investments by allocating funds to assets that tend to perform well during inflationary periods, such as stocks, real estate, and commodities. These assets have historically provided a hedge against inflation by maintaining or increasing their value as prices rise.
4. Embrace risk management: Inflation can introduce volatility and uncertainty into markets. By adopting smart risk management strategies, such as setting stop-loss orders or ensuring a balanced portfolio, you can mitigate potential losses and protect your wealth. Consult a financial advisor to develop personalized risk management strategies that suit your investment goals.
5. Increase income streams: Inflation erodes the value of fixed-income sources, such as salaries or pensions. To counter this, explore opportunities to increase your income streams. Consider investing in additional skills or assets that generate passive income, such as rental properties or dividend-paying stocks. By diversifying your income, you can potentially offset the effects of rising prices.
6. Budget wisely: Managing your finances with inflation in mind is crucial. Keep track of your expenses and budget wisely to ensure you have enough funds to cover rising costs. Prioritize essential expenses and consider reducing discretionary spending. Additionally, seek out periodic cost savings and promotions to maximize your purchasing power.
In conclusion, fighting inflation requires knowledge, awareness, and proactive financial planning. By understanding the causes of inflation, monitoring economic indicators, diversifying your investments, managing risks, increasing your income streams, and budgeting wisely, you can better protect your wealth and navigate through inflationary periods. Stay informed, adapt your financial strategies, and consult professionals to ensure your financial well-being in the face of inflation.
The inflation numbers are fudged. There has been almost no wage inflation. Wages are at least 50% and spending is less than 50% because some of wages goes to income tax. So when they say inflation is 8% that is an average including wages. The inflation number for stuff is more like 24%.
The container sizes have shrunk i.e. shrink-flation. You are not really fighting inflation. You only think you are. The 6.4% inflation that you cite does not include food and energy prices. True inflation is closer to 15% so 3.75% or 4% on your deposits means you are losing not winning.
You have your shit together and you are very smart with your money.
Hello, may I ask what microphone are you using?
Yes you can aboid spend money on food examples gou to the military ; take prison time ; geat a job at company that give money o buy food our geat the meals at the company ; stay at our parents home
This is literally just common sense or re-hashed information disguised as being helpful, when it's really just about the money that will come from the affiliate link clicks and sign ups…smh.
Another pro for the Series I Bonds is that the earnings are exempt from state income tax, so you could also consider those savings part of the benefit. Depends on your state, some states have higher tax rates than others. You do still have to pay federal income tax on it though.
House hack your extra bedroom, put your car on Turo.
Make more $ by making 20 cent iced coffee at home.
There are cheaper grocery stores than Trader Joe’s. In my area it’s places like Food 4 Less and Winco. You don’t have to buy in bulk but there are bulk bins for pantry staples like rice and flour if you want to get the amount you actually need. But even the bags off the shelf are usually cheaper. And TJs is a bit of a novelty item store as well so you can be tempted to buy products you don’t need. I like TJs as much as anyone but it’s not the best way to save money. People knock the quality of the true bargain stores but it’s usually fine.
Voting is the most powerful thing to fight it. This is a repeat of 2 administrations ago. Knew it would happen and it did.
This was pretty good, covering daily finance and food costs. Something I've discovered is meal kit deliveries, which seems more affordable and the tastes and cooking are a whole new level!
I haven’t seen a Safeway since I was a kid. I’m in VA. Safeway left here in the 90s. Then a store literally called “The Grocery Store,” took
Their spot. Then Ukrop’s came along. Then Haaniford’s. They were bought out by Kroger. The Ukrops family sold their store to Martin’s. Then Martin’s went out of business. That was replaced by Publix. Sorry I ranted lol
7%… In my country it's 12,7% in comparison to the previous year… And it was even higher a few months back… And yet the government found new ways how to rip us of more money..
Is anyone else realizing a change in government and these being DIRECTLY RELATED??
I used to hate Trader Joe’s, but now that I actually have a budget instead of spending $1,000 a month on doordash TJ’s is such an amazing store! I can get great dinners there for under $6 a piece, and it’s non GMO, no artificial preservatives, nothing in the food is bad! I love Trader Joe’s! And the selection is amazing!
any thoughts on Gravity Payments..?
So I don’t know a lot about stocks and ETFs but I recently a year ago started dabbling in that with my Stash card. Do you have any opinions on that direction?
So eggs and all the food went up like 50% but iNfLaTi0N is only 6.6% its a joke
American Express also has an awesome APY
Ramen noodles for life ☠️☠️☠️
Thank you
I didn't know eating breakfast was a privilege. Of course, you have your finances together as you come from wealth & your channel is doing well. You have a surplus in your income. Having a surplus in income is what we all need in order to bet inflation. Cute video though. You are such a great saleswoman.
Sofi stock is currently trading at less than $5 per share. That is good & bad.
Most high yield savings accounts will require a minimum balance of $5,000. Good luck with that as most Americans can't even come up with a minimum of $1,000 for an emergency fund. Of course, the fake bank Sofi has a 0 minimum. I wouldn't trust my money in that start up bank the way they are collapsing.
Although, Trader Joe's is cheaper, those stores are few and far away & with the high cost of gas that will eat your savings if you would have just shopped at your local grocery store. The nearest Trader Joe's to me is 21 minutes away. Those stores are located in affluent neighborhoods in my areas as the affluent need to save money, laughable!!!
I don't know about putting groceries on a credit card. Seriously, you are telling people to pay interest on groceries?! Not many credit cards offer 3% cash back. Usually, that is only offered to people with good or excellent credit. Most people have fair, bad or no credit. Even, with the cash back if you don't pay the bill in full by the due date the interest will eat the benefits of the rewards. Most people aren't able to pay their debts off in full each month by the due date. Most people aren't a millionaire nor born with a silver spoon in their mouth like you. It was a good try though. Also, with a 3% cashback card, you are likely paying a hefty annual fee. Ladies & gents this is just smoke & mirrors.
I haven't watched your video yet but girl…the food at PCC is high vibrational… Trader joes food is dead dead dead.. you can feel it! Shopping at PCCs is like health care.
I’m moving to Brooklyn next month! I was wondering how Whole Foods compared to Trader Joe’s with deals? Thanks!(:
Aldi’s is the cheapest… better quality veggies and meat