Every year inflation hits directly into our pockets, but we always have the opportunity to win, making small changes in personal habits and finances, but before we start reading about these secrets, let’s make clear the main concept around which this note revolves.
Do you know what this term refers to or means? Many people do not know, inflation refers to the increase in the price of goods and services or we can see it as a depreciation of money with respect to goods and services. This is measured by the Consumer Price Index (CPI). In addition, there is no single type of inflation depending on the factor that triggers it is divided into four types:
Types of inflation:
- By demand: When there is a lot of demand and little production.
- By cost: Increase in the price of raw materials, such as oil, metals, etc.
- Manufactured Auto: When it is known that there will be an increase in prices, the cost increases before inflation is gradual.
- By expectations: In countries with high inflation a salary increase is requested, and this causes an increase in prices, generating a vicious circle.
Now that you have understood the concept of inflation, here are a couple of tips to take advantage of it:
Compare prices and offers
The benefit is totally for you, looking for a good price is not a matter of stinginess but a way to take care of your economy and be part of the community of responsible consumers.
Use all the tools in your favor, consult catalogs, if you have the possibility to make those consultations and compare prices online and finally when you arrive at the supermarket compare and look for the gondolas with discount products.
Consume different products
An important point about the increase in the price of goods, is that it does not apply in all, in the same way, some products take more time for them to reach the price increase, there lies the importance of price comparison, consume different products, other brands, chicken instead of beef, etc.
In our days there is a wide variety of products, we must take advantage of the brands that are “married” and try new options, and this will open the field of possibilities in products and improve their economy.
Buy in advance
The importance of allocating a budget and organizing our expenses in advance is also related to inflation or price increases, the advantage is to buy before this price increase begins.
Always taking care of details, as if the expense you are about to make is mandatory, that is, you have to do it necessarily, do it, however, if you do not have the capital you must organize so that no debts are generated that you cannot afford to pay. Long
If you have the opportunity to save a percentage of your profits, do it in indexed units (UI) that progress along with the Consumer Price Index, check with your bank if you can do it through a savings account or payments with fixed terms. This is recommended for consumers with medium or low incomes since in what they have high income there is not a big difference for their purchasing power.