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The article last week talked about managing our emotions before our money as a calm mind leads to better decisions. Now let us move from mindset to action.
Many of the financial adjustments needed during high inflation do not necessarily require earning more money. They require managing existing resources more deliberately.
During inflationary times, the first two pillars of EnRich Cash, Debt, Risk and Wealth or CD-RW management deserve immediate attention.
Inflation does not affect all expenses equally. Food prices may rise faster than transportation costs. Electricity bills may increase, while telecommunications expenses remain stable. Therefore, the first step is not to cut expenses across the board, but to understand where inflation is hurting the most.
