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How to Thrive in an Inflationary Economy: Earn More and Preserve Your Wealth

Friday, October 18, 2024

How to Thrive in an Inflationary Economy: Earn More and Preserve Your Wealth

Hey, have you noticed how everything seems to be getting more expensive? Groceries, gas, even childcare—it’s all going up. You’re at the end of the month, you’ve paid the bills, and you’re looking at your bank account thinking, “Where did it all go?” You’re not alone. Inflation’s hitting hard, but here’s the good news: you don’t have to just survive; you can thrive.

Today, we’re talking about two strategies to help you get ahead, even in this inflationary economy: earning more and preserving wealth.

Understanding the Inflation Challenge

Inflation’s a tough nut. Prices rise, and your dollar buys less. The old advice of “just save more” isn’t enough when that cash loses value over time. So, what do we do? We need to bring in more income and figure out how to keep that money working for us.

Earning More: Expanding Your Income Streams

You’re working a job. Great. Now, ask yourself: can you earn more?

Ask for More Responsibility: Step up at work. Ask your boss what more you can do to bring value, and let them know you’re in it to win it.
Side Hustles and Freelancing: Look for side gigs or freelance work. Could be something you’re passionate about, or just a way to bring in extra cash.
Align with Your Purpose: Take a moment to reflect on why you’re working so hard. If you’re going to hustle, do it in a way that aligns with your long-term goals and values.

Preserving Wealth: The Importance of Smart Investing

Saving cash isn’t going to cut it when everything’s getting more expensive. That’s why we need to talk about investing. And I’m not here to give you specific investment advice, but I am saying: learn. Dive into it, figure out what makes sense for you, and start moving beyond just saving.

Investment Options
You’ve got choices—real estate, gold, stocks, crypto. What’s going to protect your wealth long-term? That depends on you, your goals, and your risk tolerance. Do your research and don’t be afraid to ask the tough questions.

Putting It All Together: How to Thrive Despite Inflation

Here it is, plain and simple:

1. Earn More: Find ways to increase your income, whether that’s at your job, through a side hustle, or by launching a business.
2. Preserve Wealth: Put your money into something that will protect its value over time. Don’t just save—invest.

And if you want to dive deeper into building a business, creating content, or using video to grow, give me a follow, subscribe, and stay connected. I’m here to help you navigate this economy and come out ahead. And remember: a good man leaves an inheritance for his children’s children. Even in times like these, you can win.

Ready to take the first step in starting your own online business?

Payton Igo

Video Marketing Consultant

Greetings, I'm Payton Igo, a videographer turned internet marketer with a focus on assisting online coaches and consultants in attracting clients and transitioning into successful video marketers.

Let's elevate your business together. 🚀

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