(Podcast) How can you deal with Inflation personally?
The reality is inflation may be here longer than we’d like. So instead of just grumbling about it, let’s talk about how we can actually navigate inflation in our daily lives. Today’s episode features two guests: Chris from HoneyMoneySG (https://www.youtube.com/@HoneyMoneySG) and Kenny Loh, a well-known REIT investor.
Timestamps
- Intro (0:25)
- What are your thoughts on inflation? (2:42)
- How Mortgage and Rental works (3:46)
- How inflation affects us as individuals (5:48)
- Ya Kun Kaya Toast (Set A) was $4.80 last year. Now it’s over $5.60/$5.80
- What have you consciously adjusted in your spending? (8:20)
- Food prices have increased by 10-20% across the board
- So are transportation costs (e.g. Grab)
- How I am less affected from inflation: (11:50)
- 1. Live a simple lifestyle: make your spending low
- 2. Multiple sources of income (especially outside of your full-time job)
- E.g. hedging of inflation (dividends also increase)
- Does being frugal affect your quality of life? (16:01)
- How do you manage spending during inflation? (24:33)
- What other sources of income that you think people can use? (25:33)
- Any thoughts on investing fixes? (35:24)
- Remember your financial objectives! (40:19)
- Closing: One simple thing we can do to manage inflation (47:10)
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