Top 10 tips. How to get through sudden Tampa Bay inflation. Yep, US Inflation is at it’s highest rate in 40 years. I’m told we, yes you I can get through it ; ) If the sudden Tampa Bay inflation has got you down, check out the top 10 tips on how Americans can get through these sudden financial challenges. Crazy surging costs for gas, food and housing, has consumer inflation jumping 7.9% over the past year, and Florida leads the nation. Tampa Bay is close to 8%, and you can add that to 6.03% from 2021. Have you seen a 40% raise in the last 2 years? Me either : ( What can we do? Call in an expert…
Bring in St. Thomas University’s Associate Professor of Economics, Dr. Srabana Gupta. Dr. Gupta is a top notch expert in the field of economics “published extensively in scholarly journals.” AKA she’s really smart when it comes to money. Nobody better to help us with chronic inflation and the rising cost of, well, everything! FYI Dr.Gupta got her her Ph.D. in Economics from The University of Florida. If the sudden Tampa Bay inflation has got you down, check out the top 10 tips on how Americans can get through the sudden financial hardship.
Source StThomasUniversity
1. If you have high credit card balance, consider a 0% balance transfer (if available) or get a low interest personal loan to pay off credit cards, consolidate high interest loans at a lower fixed rate, shop around to find a lower interest mortgage loans to refinance.
2. Gas and energy prices are soaring -- keep tires inflated, consolidate trips such as combine your trip to work with trip to grocery store, consider carpooling, walking, biking etc.
3. Do some sort of energy audit like use low energy light bulbs, increase the temperature on your AC by one- or two- degrees, check for leaks in your home and fix them, have your AC serviced, explore if you qualify for Federal programs that assist with energy bills.
4. Food prices are soaring, but the prices of some food items are increasing at a faster rate than others --- substitute lower priced food for higher price food, such as buy more generic brands, look for weekly sales coupons, eat healthy (more vegetables and less meat -- price of vegetables has not increased as much as meat).
5. Try to increase your income by selling things you do not use, start a small business, may be a second job.
6. Refrain from buying unnecessary things including new cars, new TV if you have one in working condition.
7. Shop around for car insurance, home insurance etc., increase deductible or lower coverage if appropriate.
8. Cancel some monthly subscriptions, including apps you can temporarily do without.
9. If you have money to invest, consider dividend paying stocks, short-term bonds, inflation-linked bonds, gold, real estate etc. i.e., do not keep extra cash, which is losing value.
10. Suggest non-essential businesses move to a temporary hybrid work week 2 or 3 days in the office, work from home on the other days
