It is easy to bemoan the fact that inflation has driven the cost of our daily living expenses up tremendously. But what we do to handle inflation is within our control.
This is my action plan:
1. I will continue to stay invested in a diversified portfolio of assets and dollar cost average into ETFs like $SPDR Portfolio S&P 500 ETF(SPLG).
2. Put aside some savings for emergency fund and continue to save.
3. Find ways to reduce my expenses especially in recurring bills like Internet, mobile phone, car and home insurance, gym membership. Keep an eye out for coupons, credit card deals.
4. Plan more home cooked meals and shop around for special offers in supermarkets. Buy fruits and vegetables in season. If fresh vegetables like broccoli are more expensive, buy frozen ones.
5. Increase my income like selling on Ebay, take on part time work
Above all, I will continue to stay positive and focus on my goal which is FIRE - Financial Independence Retire Early!
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