Prepare for Inflation

It’s hard to overstate the economic damage Trump is causing, and it won’t all show up at once. Oil disruption from the Iran war is affecting fertilizer during the Spring growing season, and that will be reflected in food prices months from now. Even if that is somehow resolved, there will be something else. We should presume the economy will be volatile until at least the midterms, and that recovery will take years.

How to do it:

Start with an audit of your spending. Cut back on anything optional and slowly begin to stock up a bit on durable goods. It’s likely prices generally will rise, and that there may be specific things that spike in price, but it’s hard to predict what they will be. If you have large purchases you’ll need to make, start watching for sales, or monitor the used market. People with more money are buying new products while they can, and that means the used market will have good products, too. Plan ahead so you aren’t making a big purchase under pressure.

Food prices are particularly likely to rise, so engage in mutual aid that increases the local food supply. That might mean starting a garden, asking a neighbor if they’d like help expanding theirs, or opening a seed library. It could mean trading meals one night a week with a friend, or learning vegetarian cooking. Dried beans are the cheapest protein source and last nearly forever. If you like to cook with fresh herbs, how about growing a few small pots of your own? Look for small changes that are sustainable, and when they become habit, add a few more.

Invest in things that build your resilience like overdue home repairs, and pick up at least a few new habits to save money like borrowing books (and movies!) from the library. Reduce or avoid optional spending where you can. Stepping out of capitalism when you see an option is resistance work and sustainability for you and the planet.

For more specific financial tips there are hundreds of economic advisors out there. We recommend “Women’s Personal Finance” as a progressive anti-capitalist financial channel. They’re on your favorite social media, and have a “three things” daily post similar to ours, but all about money (and sunscreen.)

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