start saving now

the cost of living is increasing in the United States. Now, more than ever, it is important to start reducing your debt load as much as possible and save money where you can.

Money Magazine Article on inflation

In this months Money Magazine, there is an interesting article titled "The Ultimate Inflation Survival Guide." Here are some interesting statistics from this article.

cost to fill up your Chevy Trailblazer is almost $ 90.00. It is about 20% more than they spent this time last year. price for a pack of hot dogs is almost 7% more than you paid a year ago. Eggs are up 30%.

The first article is outlining is that our cost of living is rising. Inflation is a normal part of the economy. Over time, there are periods where inflation is higher than others. In our current situation, inflation also goes hand in hand with decreasing dollar and sharply increasing oil prices. It seems a bit drastic increase in inflation seems bigger because of outside forces.

What can you do to compensate for increased costs?

debt reduction - The interest rate is the real killer in difficult times. the least amount of debt load that you can get away with ... better. This may mean that you go without some items that are "used to" have, but in the long run ... You will be far more willing to swings in the economy.

Cut back into areas of your life - In times like these, you can cut back on items that are not necessary. A few examples are:

Going to eat once a week, instead of multiple times vacationing closer to home to offset the costs of transportation Eating store brand products instead of brand name

Look at the savings must have items - a great way to reduce gas costs and save time is to shop more online for the items you need on a daily basis.

the work that you put forth now will set you up for bigger things in the future. In the case that most of you have not noticed, things are not going to get better ... now it's just worse. I do now for future use.