(Topic ID: 318616)

How are you handling inflation?

By MtnFrost

1 year ago


Topic Heartbeat

Topic Stats

  • 339 posts
  • 105 Pinsiders participating
  • Latest reply 1 year ago by MtnFrost
  • Topic is favorited by 5 Pinsiders

You

Topic poll

“How much is the current inflation affecting you?”

  • A lot 40 votes
    20%
  • Moderate, some changes and sacrifices 75 votes
    37%
  • Not so much 88 votes
    43%

(203 votes)

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#161 1 year ago
Quoted from Reality_Studio:

When you have a completely unregulated capitalist system those with the most money ultimately win, it's just how it works. Anytime any form of regulation gets brought up people scream to stop it, so this is the system we have as per what the people want. As for me inflation hasn't affected me although we did plan ahead by locking down a very low mortgage rate, no variable interest debt, electric cars, etc, and my business is entirely self run and purely online based so it still does well even in hard times.
I'll say this much though, I've lived in the USA for 25 years now and learned early on that it's a very different system than other countries. Most other places I lived in are setup for people but I find the USA is more setup for corporations. As such I setup an LLC about 18 years ago and run everything through that, legally of course. If I only gave people living in the USA one piece of advice it would be to live as a corporation, not as a person. This is far too large of a topic to get into on a forum but seriously, look into it and adjust how you operate to be a company, it will financially change things quite dramatically.

Can you offer any recommendations on reading material? Thanks

1 week later
#250 1 year ago
Quoted from loneacer:

I haven't done much different. We've always been very frugal. Since paying off our house (30 year mortgage paid off in under 5) we live on maybe 20% of the income that we make.
Some of the increases this year have been far more than reported inflation though. I had been getting the rodeo burgers at Burger King for lunch a few times a month. They're tiny, barely bigger than a 50 cent coin. Two-three bites and you're done with one. At the beginning of the year they were 99 cents. A few months later $1.29. Then $1.59. Then last month $1.79. I went this week and they were $2.09. More than doubled in 7 months. That crossed my internal threshold on what that tiny burger is worth. $1/bite for junk food is over my limit.

That BBQ sauce with onion rings on top is great.

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