Ughh Inflation

 

Inflation has been a bear this year. However, I noticed that several of the items I normally purchase were at a better price the last time I went to the grocery store, so that gives me hope that food prices will come down to a reasonable amount soon.

Dealing with unexpectedly high prices has meant I have to mix up how I shop, and how I cook. As I’ve mentioned several times, I cook almost all of the meals we consume. Most of those meals are plant-based, so my grocery bill is less than many meat eaters' grocery bills, which is great. But I feel the pinch regardless.

I spend about $100.00 per week for myself and my spouse. I know there are many people who spend much less than this, but we are highly focused on health so we don’t purchase processed food too often. I follow a couple on YouTube, their channel is “Under the Median” and they are feeding a family of four for $50.00 per week. That is amazing! Their dedication is remarkable.

Because I tend to overthink and over plan, I really struggle with flexibility. But I’m practicing as I mentioned in my blog post about analysis paralysis. Honestly, it’s really hard to plan for high prices when you are purchasing staples for your pantry. Sometimes you have to “bite the bullet” and buy expensive spices, or lately…eggs.

How do you handle unforeseen expenses?

One strategy I employ most often is to have some money set aside just for the purpose of covering an emergency. Of course, I’ve had to tap into this fund more often than not lately because of the high cost of items. That’s okay.

Are you using a credit card to cover expenses? If you are now is a great time to consider creating a plan to help you stop financing your future security away and start a budget that will allow you to get out of debt and have an emergency buffer.

In order to do this you will have to accept that you will have to sacrifice some things. I think of it like this, if you want to lose weight you will have to feel hungry sometimes. This is reality. I don’t think there is any weight loss plan that will work without a person feeling hungry at least some of the time. It’s okay to feel hungry sometimes. In fact, I would say that feeling hungry is good. When was the last time you truly experienced hunger? Try it, you’ll learn that hunger is temporary.

If you want to get control of your finances you’ll have to feel deprived to a degree, and that’s okay. I’ve read feedback from individuals who eschew the idea of sacrifice. I understand. They say things like, “I’m not giving up my coffee because that won’t help me buy a house one day. I’m priced out of the housing market.” They are correct. Giving up coffee from the local café won’t save them enough money to buy a house one day, at least one day soon. That isn’t the point. Giving up coffee from the café, consolidating driving to combine errands and save gas, cooking more often and not purchasing restaurant meals, and forgoing new shoes, watches, and handbags…will eventually lead to greater prosperity through savings. It will allow for more freedom to do fun things that enhance existence. Ultimately being debt free has allowed me to live a more carefree life. Living paycheck to paycheck left me feeling beholden to my employer, which is an unnatural relationship. It left me fearful about my future. Having “FU” money is the ultimate feeling of freedom. You won’t understand how liberating it is until you do it.

When I hear people say they are unwilling to make a sacrifice in order to have financial freedom I think they misunderstand what it takes. Most people won’t have to sacrifice their whole life. It may take a few years, but it’s totally worth it.

“Anything worth having is worth working for.”, said Andrew Carnegie. This is true. In fact when you consider the song lyrics of George Straight, “Easy come, easy go.” You can understand that if you get something you don’t work for you don’t value it as highly as something you have to put an effort into truly. That is simply life. You must make an effort when working towards goals, and sometimes that means not getting a double mocha latte with extra whipped cream. It means making due, for a while with coffee you made at home or coffee you get for free from the work coffee pot. It’s okay, it’s not forever.

In fact, I can go out today with careless disregard for the expense of gasoline, wear and tear on my car, plus the cost of a fancy coffee drink if I want to. I don’t want to because although I know I would likely enjoy the coffee drink, I won’t enjoy it enough to make the waste worthwhile. I don’t think I would feel bad about that choice, but I know from experience it isn’t worth it.

About twice a year I fantasize about donuts. I’ll put off buying a donut for some time, typically a couple of months, but the desire lingers. Eventually, I’ll be at the grocery store and pick up a donut for myself and my spouse. It’s never as good as the thought of the donut. Usually, after I’ve eaten it I feel slightly sick, due to the high sugar content that I’m not used to. But I’ve satisfied my craving and it won’t come up again for several months. Intellectually I understand the donut will leave me feeling kind of shitty, but emotionally my craving must be satisfied. I’m a human and I cave into my base instincts on occasion, and I don’t learn my lesson. That’s okay.

But what if I caved every week or every day? I’m certain my waistline would not be the same. I’d have to replace my clothes with bigger clothes. Perhaps I’d have to fill my gas tank more often. Maybe I’d develop type 2 diabetes. Sugar makes me tired, perhaps I would be less likely to exercise. That has health consequences.

When considered in this light my choice to limit donuts to two times or so per year, it doesn't feel like a sacrifice as much as it feels like prudent health choices. Health choices that have a positive impact on my wallet.

How can you adjust your attitude toward sacrifice? Start with reframing instead of considering the negative impact of your choice, think of it as a positive choice.

       I’m making a vegetable sandwich to support great gut health.

       I’m making my own coffee at home so I can control the amount of sugar and fat it has in it. I’m getting healthier each day.

       I’m meeting my friends for a walk in the park today instead of meeting them at the local bistro. I’ll save money and get fresh air.

       I’m not going shopping today; I’m investing in myself by reading this great book I’ve heard about, that I checked out from my library.

Nearly everything you can do or consider will have a negative side to it if you choose to think of it that way. It’s true you may never own a home with the job you have right now or with the way the economy is right now. But how long is “right now”? You definitely will never have financial freedom if you do nothing to manage your output. If you do choose to manage your output, even in small ways, one day you may find that you have more options, perhaps you can go back to school, or start your own business. Financial freedom through debt-free living will be a big hand up when you are ready to make a change.

If you want to learn more about debt-free living, buy my book “Never Worry About Money Again: Gain Financial Freedom By Becoming Better At Managing The Money You Have”