How does inflation affect your daily life?
Hey Aussie,
Australia’s annual inflation rate jumped to 6.1 per cent, its highest level in more than two decades, and it's affecting all parts of the economy. From the grocery store, to the gas pump and the cost of housing, Australians are paying more for everything.
The rise in the consumer price index in the three months ended June 30 was the highest since June 2001 and the introduction of the GST, according to the Australian Bureau of Statistics.New dwelling prices rose 20.3 per cent as government support was withdrawn, while petrol prices soared 32 per cent. Fruit and vegetables prices rose 5.8 per cent because of heavy rainfall and flooding in key production areas of NSW and Queensland that disrupted domestic supply.
How does inflation affect your daily life?
💡Share Your Insights
Please leave a message in the comments section of this post, and share your insights about inflation.💸💸💸
- Where are you feeling inflation the most?
- How have you changed your behavior to cope with higher prices and cost of living?
- What is your biggest concern about the future?
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⏰Activity Duration
27July, 2022-3 August, 2022
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It affects utilities, food and groceries the most
Need to eat less and save electricity, water and gas
Biggest concern is Tiger portfolio drop too much in future
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!
@Tiger_AU
increase！It ’s affected our daily life, no more pocket money！ [捂脸] [捂脸]
I learned to use options to get premiums to cope.
Concern will be the increasing of $