Best Budget Hacks to Fight INFLATION in 2022

Описание: In today’s video, I break down my best budget hacks to fight inflation in 2022! Brought to you by the incredible budgeting app Buddy Budgets.

Download Buddy here: http://buddy.download

My first budget hack is to not only make a budget but make a zero-based budget. The difference is a zero-based budget will actually have the income equal your expenses and your savings. If these don’t equal, your budget won’t work because you’ll likely be spending more than your income.

Budget hack #2 is to reduce discretionary expenses! Discretionary expenses are the wants in you budget. I think it’s really helpful to make a needs vs wants list where you can list out all your expenses and get real with yourself about what are needs and what are actually wants.

Budget hack #3 is to get your insurance policies evaluated by an insurance broker. These people can help you shop around for insurance and determine what’s best for your situation and at the best price.

Budget hack #4 is to regularly track expenses! Though making a budget can help, it is the tracking of expenses COMBINED with your budget that will help you make the changes you need to make in your finances. If you track expenses every day or maybe once a week, it’ll help you stay informed on how much money you have left to spend in your budget. This will help keep you from overspending!

Budget hack #5 is to pay off your consumer debts. Paying off your debts will open up a whole lot more cashflow for the expenses that are rising due to inflation. This may require cutting back on other discretionary expenses, but it may also mean getting another part time job so you can pay it off more quickly.

Budget hack #6 is automate your money, especially your savings. Savings and especially investing will help you fight inflation and the loss of purchasing power. But when you do it automatically, that’ll help you minimize the difficulty of forcing yourself to do it if it doesn’t come naturally.

Budget hack #7 is to reduce the amount of inflationary expenses you need! Carpool more, drop the thermostat by a couple degrees, meal plan. Anything you can do to reduce the cost of those expenses that keep rising.

Timestamps:
0:00 - Intro
0:54 - Budget Hack 1
1:32 - Budget Hack 2
2:19 - Budget Hack 3
2:43 - Budget Hack 4
3:17 - Give Buddy Budgets a Try!
4:09 - Budget Hack 5
4:50 - Budget Hack 6
6:07 - Budget Hack 7

#CalebBale #inflation #budgeting

📒 Notes and Resources 📒

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