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I'm an old dog blogger, nothing particularly new and innovative to share as I navigate the last 1/3 of my life, hopefully with love, gratitude, and comfort. We missed the whole FIRE phenomena, Financial Independence Retire Early bandwagon, but I follow some 30's and 40-somethings that have or are close to achieving FIRE, not to replicate, but build on any knowledge I learned from just living life for five and 1/2 decades. One of those young person I like to read is Frugalwoods and she just this week posted How to Survive Inflation and Make it Work for You. There's some good points in there about delaying what you can buy while things are at inflationary prices. She makes an honest assessment though that things could go either way. People can wait to buy, and then when things get more manageable, inflation stops, or reverts, we'll come off as smart. Though on the flip side, if things just keep going up and up, say houses and cars, we'll be all the poorer when we do finally decide to buy if we wait. I thought it was well written and a good thinking kind of post. It's perhaps a good read to share with my children who are younger than FW and her husband, so still developing their thrifty ways.
I find my best navigation right now is eliminating or at least limiting mindless spending, while still enjoying our life. We splurged a bit over the holiday weekend, but will pull back in a few other budget categories since entertainment and eating out was a bit higher. I don't have a lot of strategies or success to share, but here's a few.
- The college kid hauled home things that she doesn't need her last two weeks, and only brought back clothes needed. This will ensure she can fit everything else in her car and save me both the 8 hours of round trip driving and two tanks of gas.
- Practical and appreciated birthday gift for my nephew was combining cash with teenager favorites. It's thrifty to buy and give what people will use and like without blowing our own budget.
- I brought a bottle of prosecco I had still from the wine club we were in years ago along with OJ for mimosa's on Sunday. They hit the spot.
- My daughter and I saw a matinee of the latest Fantastic Beasts, Secrets of Dumbledore movie, saving $7 combined from the evening price.
- I hadn't seen the 2nd, and she couldn't remember it well, but we watched for free on HBO Max (free as it's already a paid for service) for our Friday night movie.
- One of the nights she was really hoping to just order in pasta, but I whipped up some linguini and marinara for her faster than she could have decided, placed an order, and had it picked up or delivered. She was more than happy with what I made. She is in her home so little with her busy schedule at school and has gotten in a bad habit of picking up meals. Though, she does usually get two meals out of her take out.
- DH filled her car with a gas coupon, checked her tires, and everything else on her car. Keeping the car in good maintenance will help ensure she will get years and years out of it after she graduates.
- I made a hearty chickpea masala for lunch Monday and sent the leftovers back with her for what should be two heat and eat meals. She also took a filled water bottle and granola bars for her on the road snack.
- I froze the ham bones (though there was little meat on them) for soup. Please let soup weather be done soon!
- Yet another round of the dental work for my older daughter yesterday. I had her over on Tuesday for girl dinner, a delicious combo of roasting miscellaneous vegetables to put over a quinoa and brown rice dish. It gave her a hearty meal before she wouldn't be able to eat solids for another day, and we made good use of vegetables needing to be used. I also sent her home bean soup from my freezer to have last night and the rest of the quinoa.
- I passed (all of us did) on trivia last night. I had a long day of training followed by crashing through emails plus a bit of a cough and cold so it seemed like staying home was the smart option, and frugal one. Now I don't recommend getting a cold or not enjoying time with friends for thrift purposes. It's the brewery's four year anniversary and they have music all weekend so I am leaning towards partaking in the festivities then.
None of us are exempt from inflation. There's one blogger I read now and again who is completely in a state of panic and despair and I feel for her. I am keeping the mind set that this too shall pass, but in the mean time, I'll do what I can to help ease the stress on our check book. How are you all doing this week? Any wins or steady success?
It is tricky to know whether prices will continue to rise so buy now or will they eventually go back down so hold off. I don't see prices going down any time soon but it's anyones guess.
ReplyDeleteI feel for the younger generation just starting out. It's going to be more difficult for them.
I don't recall stuff really going down in prices before. But, the crazy car and housing bubble can't sustain I wouldn't think, for much longer. It's really changing how people launch into being able to live on their own.
DeleteKL is on annual leave so we haven't used as much petrol over the last 2 weeks, the weather has warmed up so we haven't needed any heating, and we've stopped eating meat again. I've also done a really thorough clean and clear of the food cupboards and found a few things I thought I'd run out of. I used to be so on top of this, but have slipped because of my health being so up and down. Hopefully I'm back on track now.
ReplyDeleteClean cupboards and organization isn't my priority when I'm feeling unwell. I'm fortunate in that my pantry is narrow so I usually can see what's needed and really trying to avoid waste. I hope KL is feeling well. It's getting closer for the baby's arrival.
DeleteI was working in the banking industry in the 80's. Inflation then was insane and interest rates beyond ridiculous. I look at today's rates and while inflation is high, interest rates are still low. In my mind, the inflation is driven by businesses who see the situation in Ukraine/Russia and take advantage of it. Why else did fuel prices go up so high when the conflict started? We produce oil and gas here in Canada and US, and only a very small portion (I've heard less than 1%) is imported from Russia.
ReplyDeleteI do agree that postponing large purchases is probably a good idea, at least for a few months, if not a year or two. When demand lessens, prices tend to decrease at least slightly.
We got first time home owner's mortgage at 8% in 1987 and that was considered very low. I hope for my daughter though that either interest rates need to fall or houses need to stop being inflated or she'll never get her foot in the market. My son, no hope in LA unless he strikes it rich.
DeleteWe are just hanging in there like everyone else. We are keeping spending to a minimum.
ReplyDeleteI never did have the income to acquire the FIRE movement and it came later for me as well. But I’m very happy for those who have made it. What a wonderful Accomplishment.
It's a bit of I false narrative as it seems most have income still coming in, but are letting their early years produce higher income passively now. What's interesting still to me is seeing the quality of life on lower than comparable budgets.
DeleteDD took me to "The Secrets of Dumbedore" the day it came out. We went to the matinee as well. I loved it! The only issue was we went to a 1:30 showing at the big theater about 25 miles away, rather than the first showing, 3:40, in the nearby town. Well, traffic on the highway was a nightmare on the way home, so we didn't make it home until almost 6 anyway. (We got so annoyed, we decided to get off and run to the bakery outlet.)
ReplyDeleteI wish we had bakery or any food outlets around. I know of one discount grocery store and it's a 50 minute drive so unless we'd have other things to combine, it would be a silly trip. I'm on the fence about the movie. I thought both 2 and 3 threw in hints to Harry Potter story line, but kind of disjointed. More to just go "ahh, did you hear that name?"
DeleteDid you share the brand of water bottle you had gotten for your daughter?
ReplyDeleteIt was just a refillable water bottle. I don't know which brand as she has several.
DeleteI used to read Frugalwoods too - and also Our Next Life, and while I can't relate because we're worlds apart, they are both very sensible couples, it strikes me!
ReplyDeleteI'm not familiar with Next Life. I like the homesteading aspect of Frugal woods too. There's a few I've read here and there where they come off as just cheap and hoarding, and not any fun.
DeleteThe furthest we've driven since the fuel price hike has been four miles away to our favourite charity shopping town. Luckily we live within walking distance of most stuff and so we can walk to the supermarket, cinema and swimming baths (keeps us fit, too!) xxx
ReplyDeleteWe're not in a real convenient place for walking other than groceries, though I combine errands when I drive. I too don't go too many places period most days. My car hasn't moved since Monday.
DeleteInflation is scary, but I keep telling myself to think of Ukraine and be grateful. It is easier for me because I have more than enough, but for those who are struggling it must be terrifying.
ReplyDeleteYou're so right, Kim. On a personal experience, it's a challenge but manageable. I worry for others who have no cushion, but they at least are not in a war zone. I try and help here where I can, and internationally combined with others.
DeleteInflation hurts__a lot, but what can we do but grin and bear it.
ReplyDeleteMy biggest grin and bare it, which should be a no brainer, is to stop silly spending. We're all in this fun economy together.
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