Money Kuel Category Expert: Joy Alford-Brand
Well, November is almost over, can you believe it?
As the holidays are upon us and the year comes to a close, my mind is on how to stretch our dollars. You may have noticed that things are costing a bit more at the grocery store and in your holiday shopping. I’m here to tell you that you are not imagining things. This holiday season, we are getting yet another gift from COVID-19, inflation.
“For some reason, we are short on workers who make the supply-chain move.”
Months Of Inflation:
Every year at about this time, I’m advising folks about getting ready for the holidays. I always give out reminders about making them more affordable like using layaway and looking for sales. This year, my advice is not just for holiday shopping, it’s also about preparing for the next six or eight months of inflation and increased cost of living. Ruh r oh!
This fun development is a result of supply-chain problems we’ve all been hearing about in the news lately. For some reason, we are short on workers who make the supply-chain move.
There are a lot of reasons for this that I won’t go into here, except to say that anyone looking to get a sit-down job might want to consider learning how to drive a semi-truck! Just sayin’!
Hopefully, this increase in the cost of goods will level off after the spring of 2022. Until then, here are my suggestions for stretching your dollar:
“Spacing out your expenses will be more important now than ever.”
Getting Ready For Expenses:
1. Plan, Plan, Plan.
This goes for everything from weekly meal planning, to big purchases for the year, to getting ready to resume federal student loan payments on February 1, 2022.
Spacing out your expenses will be more important now than ever. Of course, this includes the tired old refrain of “budget, budget, budget.” A budget is a wonderful planning tool that I will avoid harping on about, for the time being.
2. Share Expenses:
Second, and this is becoming a big one, figure out ways to share expenses during the upcoming inflation period. Whether you need a roommate, a carpool ride to work, or a potluck-based social calendar, sharing expenses is a traditional way of getting over financial rough patches.
For example, I’ve heard that more and more people are moving back home to live with family as this “twindemic” continues to impact us economically. Two can live cheaper than one. Again, I’m just sayin’!
“My only advice about starting a business is don’t invest any money you can’t afford to lose. Aside from that, get inspired and go for it!”
Make Your Dreams A Reality:
3. Get Creative.
This is where good old American ingenuity comes into play. If you can look at this situation and see opportunity, now’s your chance to make your dreams a reality. I firmly believe that there is no end of opportunity available in our current predicament for those who are willing to work for it.
Look around you and see what need you can fill, then figure out a way to fill it. My only advice about starting a business is don’t invest any money you can’t afford to lose. Aside from that, get inspired and go for it!
Financial Difficulties:
Are we experiencing financial difficulties? Yes, we are. Is this the first time we’ve had money problems as a nation? Ha, nope. You only need to remember the economic devastation of 2008 to see we’ve been through hard times before and survived. This situation is really no different. It boils down to one shining fact about life, it is what you make it.
If you are having financial problems, don’t let them get you down. Keep moving forward and remember, anything is possible! It all comes down to us and our grit. Stay positive, my friend. Better days are coming!
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About the Author:
Joy Alford-Brand is an author, public speaker and attorney. She graduated with Bachelor’s Degree in History from Wright State University in Dayton, Ohio in 1994 and she received her Juris Doctor from Ohio State University College of Law in 1998. Her main area of practice is Bankruptcy. She is admitted in North Carolina where she lives and works. Joy founded newcashview.com in 2015 as a platform through which she could help others work toward financial freedom and peace of mind! For more information, check out newcashview.com.
