How To Save Money During Inflation: Top 5 Ways To Protect Wealth

Andrew C. McGuire

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Inflation is a serious issue that can affect our financial security and leave us feeling powerless. My recommended way to protect yourself during times of inflation will be to make sure you're mindful of how you spend your hard-earned cash.

By following simple steps such as getting a handle on debt, shopping smarter at the store, getting your subscriptions under control, being vigilant about health costs, using insurance wisely, providing value at work and reducing energy usage – you will be able to safeguard yourself from high prices due to inflation while still saving money in the process.

It's important to think about where to put your extra funds and I always recommend looking at a gold IRA to make sure you've diversified your investments. Augusta Precious Metals is my favorite option so make sure you've taken a look at that too. Alright - let's get into it.

Get a Handle on Debt

Paying off debt as soon as possible is essential to protecting your wealth and avoiding high-interest debt. High-interest debt can be a major drain on your finances, so it’s important to pay it off quickly if you have any.

The tips I recommend to get a handle on your debt


Make A Budget

The first step in managing your debt is creating a budget that works for you. By doing this, it will help you identify the areas to cut back which can then be used to pay down debts faster.


Prioritize Payments

When making payments, prioritize those with the highest interest rates first so that more of each payment goes towards reducing the principal balance rather than just paying interest charges.


Consider Consolidation

If you have credit card debt with different interest rates or terms, I would really figure out if you can consolidate into one monthly payment at an overall lower rate of interest than what you were previously paying across all accounts combined.


Negotiate Lower Rates

Contact creditors directly and see if they are willing to negotiate lower rates or waive fees associated with late payments or other penalties for missed deadlines in order to reduce the amount of money owed over time and make repayment easier on yourself financially speaking.


Use Extra Income Wisely

Any additional income should go towards paying down existing debts instead of spending it elsewhere; this could include bonuses from work, tax refunds, etc., which can help reduce the total amount owed significantly when applied correctly towards existing balances due. For anything that you do have that's extra, make sure it's going into your savings account.

Avoid taking out new credit cards while trying to manage existing ones because it may seem like a good option, but in reality it only adds more financial stress onto already difficult situations. Try not to use new credit cards until all current obligations are taken care of first.

By getting a handle on debt, you can start to build a foundation for financial security and better prepare yourself for the potential of inflation and recession. Your debt repayment strategy is going to be incredibly important because your purchasing power is going to continue to decline with our high inflation. The dollar is just buying you less over time and you may want to consider a financial planning firm to help you figure out how to offset inflation.

Dollar's Worth


Once you've done this, it's important to think through how you're spending money at the store so let's tackle that next.

Shop Smarter at the Store

Here are some money saving tips to help you get started on saving at the store


Compare Prices

Before making any purchases, take time to compare prices between different stores and online retailers. This will ensure that you’re getting the best deal possible on whatever item you’re looking for. With inflation and the cost of lettuce up 800% YoY, it's important to watch the rising prices that are being caused by the rising inflation that we're dealing with.


Use Coupons

Take advantage of coupons whenever possible. Many stores offer discounts or free items when customers use their coupons. Additionally, check out websites like Groupon or LivingSocial for additional savings opportunities.


Buy In Bulk

Buying items in bulk is another great way to minimize your expenses at the store. When buying food, look for large packages that have multiple servings inside them; this will allow you to buy more food while spending less overall. Also consider buying non-perishable things like toilet paper and paper towels in bulk since they won't expire quickly and can last a long time if stored properly. The consumer prices that you look at will help you make decisions on how you purchase in the future.


Look for Sales & Discounts

Keep an eye out for sales and discounts throughout the year so that you can stock up on items when they're cheaper than usual. Some stores also offer loyalty programs where customers receive special offers after accumulating points from their purchases over time; these rewards can add up quickly if used regularly!

Don't forget about shopping smartly online as well. Look into cash back sites such as Ebates, which give shoppers a percentage back on their purchase depending on the retailer they shop with. Additionally, many other sites like Honey offer coupon codes so make sure to always do your research before checking out.

By shopping smarter at the store you can protect your wealth. I also recommend that you consider looking at those recurring subscriptions and think about what you can cancel or not renew in the future.

Get Your Subscriptions Under Control

Subscription services are a great way to access entertainment, stay connected, and stay healthy. But if you’re not careful, they can quickly become an expensive habit.


Streaming Services

Streaming services like Netflix or Hulu can be convenient but they also add up quickly when you have multiple subscriptions. Consider sharing streaming service accounts with family members or friends who don’t use them as often as you do. You could also look into free streaming options such as Crackle or Tubi TV for movies and shows that don't require a subscription fee.


Phone Plans

Phone plans are another area where costs can get out of control when you're not paying attention to the details of your plan. Make sure that your plan is tailored to fit your needs so that you're not paying for more than what's necessary each month. If possible, try negotiating better deals with providers by bundling different types of service together in order to get discounts on monthly fees and other perks like extra data usage or minutes per month.

Before signing up for any gym membership, make sure that it fits within your budget and lifestyle needs so that it doesn't become an unnecessary expense down the line due to lack of use or interest in going regularly enough to justify its cost each month. Gym memberships can be costly depending on the type of membership you choose and how often it gets used throughout the year.

However, there may be local gyms offering discounted rates which could help reduce overall costs associated with getting fit while still providing quality equipment and classes available at regular gyms without breaking the bank every time renewal comes around.

By cutting down on unnecessary subscriptions, you can free up money to invest in strategies that protect your wealth from inflation and a recession.

Be Vigilant About Health Costs

Health costs can be a major financial burden for many individuals and families. It is important to understand your health insurance coverage, so you know what services are covered and which ones may require additional out-of-pocket payments. Taking advantage of preventive care options available through an employer or insurer can help reduce medical expenses in the long run.

When it comes to comparing costs between different providers, research is key. Check with your insurer to see if they have negotiated lower rates with certain doctors or hospitals in your area. You should also consider whether any specialists you need are within network – this could save you money on co-pays and other fees associated with seeing an out-of-network provider.

It’s also worth asking about generic drugs when filling prescriptions; these often cost significantly less than brand name medications, even after factoring in insurance discounts. Additionally, look into mail order pharmacies that offer discounted prices on some medications as well as free shipping for larger orders over a certain amount.

Finally, make sure to take advantage of any wellness programs offered by employers or insurers that may provide incentives such as reduced premiums for completing activities like getting regular checkups or participating in weight loss classes. These types of programs can help keep healthcare costs down while promoting healthier lifestyles overall.

It is important to be mindful of health costs and find ways to save money, such as shopping around for the best deals on insurance or medications. Another big topic is energy usage so let's jump in.

Reduce Energy Usage

Reducing energy usage is an important step to take in order to protect your wealth from inflation and a recession. By making simple changes around the home, you can lower your utility bills and save money over time.

My favorite way to reduce energy usage is by using energy-efficient appliances. The applications to look at are the Energy Star label, which indicates that they hit the standards that the Environmental Protection Agency (EPA) set. This will help ensure that you are using products that use less electricity than traditional models. Additionally, unplugging electronics if you're not using them will help decrease consumption.

Another way to reduce energy usage is by taking advantage of natural light whenever possible. Open up curtains or blinds during daylight hours so sunlight can come through instead of relying on electric lighting sources such as lamps or overhead lights. Consider adding skylights or solar tubes if there are areas in your home where natural light does not reach easily enough.

Finally, it’s important to be aware of any areas where you may be wasting energy without realizing it. Check all windows and doors for drafts and seal them off if necessary; this will prevent warm air from escaping outside during colder months, reducing how much heat needs to be generated inside the house and saving money on heating costs each month. Inspect insulation levels regularly too; inadequate insulation means more heat loss throughout the year which leads to higher bills overall due to increased need for heating/cooling systems running longer than necessary .

By following these tips and being mindful about how much electricity we use every day, we can make sure our homes stay comfortable while still protecting our wallets from rising utility costs caused by inflation or a recessionary economy. Doing so will help us save money in the long run and ensure that our bills remain manageable.

By reducing energy usage, you can save money while also helping the environment. Next, we will explore how investing in precious metals and gold can protect your wealth during inflation.


In conclusion, saving money during inflation is possible if you are willing to make a few changes in your lifestyle. By getting a handle on debt, shopping smarter at the store, getting your subscriptions under control, being vigilant about health costs and reducing energy usage, you can save money and protect yourself from inflation. It's going to take some time to adjust to these new habits but considering it will save money during inflation and recessionary times, it's worth it.


Where should I put my money during inflation?

Inflation can erode the value of your money, so it is important to consider investments that will protect and grow your wealth. Precious metals like gold, silver, platinum and palladium are often a good choice for hedging against inflation, as their prices tend to rise when other asset values decline. Additionally, investing in stocks or bonds with higher yields may also be beneficial during periods of inflation. Finally, diversifying across different asset classes can help you manage risk while potentially increasing returns over time.

What is the best way to survive inflation?

My recommended way to survive during our inflationary and recession times is to diversify your investments. Investing in a mix of stocks, bonds, gold IRA and alternative investment options will protect your wealth from the effects of inflation. Additionally, investing in precious metals such as gold or silver can be an effective hedge against inflation because their prices tend to rise when the value of paper money decreases. Finally, having cash reserves on hand will ensure that you have liquidity during times of economic downturns and recessions.

Inflation Investment Hedge

Augusta Precious Metals is the most trusted gold IRA company and the best option to hedge against inflation