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Inflation Protection

Inflation could be here for awhile

Inflation’s the rate at which the value of a currency is falling while the cost for goods and services is rising. One positive is that when interest rates rise, savings accounts, money-market funds, and CDs will earn more money. Homeowners with a low fixed-mortgage rate will also benefit. The problem occurs with lost purchasing power. It’s hardest on those with fixed incomes, especially those with no margin. Prices jump for rent, food, transportation and insurance. I’m sure you’ve already seen it. So here are some ways to protect yourself.

First, use a budget. It enables you to see where to make cuts in order to cover rising costs. If you have excellent credit, you could refinance and cut your mortgage payment by several hundred dollars a month. This can offset higher costs in other budget categories. I’ve written several articles about how to do this at Also shop wisely. Build your menu and stock up on sale items at the grocery store. Postpone all unnecessary purchases. Build your emergency fund and watch the rates for CDs. They could be a good place to park some money temporarily. Work as unto the Lord so your income is not threatened. Many companies are hiring temporary help for the holidays. It could turn into a full-time position if you prove to be a responsible team player. Finally, “Don’t be anxious about anything, but in every situation, by prayer and petition, with thanksgiving, present your requests to God.  And the peace of God, which transcends all understanding, will guard your hearts and your minds in Christ Jesus.” (Philippians 4:6-7)

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