How To Cope With Rising Inflation
The Malaysian Government announced an increase in petrol and diesel prices as well as electricity tariff yesterday at 40.6% (from RM1.92 per litre to RM2.70), 63.3%, (from RM1.58 per litre to RM2.58) and 20% for homes (above 400 kw) and 26% for business users respectively. The increase created shockwaves throughout the country and many petrol stations saw hundreds, if not thousands, of vehicles queuing up to have their tanks filled prior to the price increase at midnight. I was one of the motorists and I had no choice as both my cars incidentally were at the "empty" level yesterday evening. Still, the decision to queue up for not less than 30 minutes per car saved me at least RM45 in total, which can buy us 2 1/2 packs of milk powder or 1 1/2 packs of diapers for our 2 daughters.
This post is not about the merits of the price increase or fault finding. Prices of everyday goods have increased globally and governments around the world are cracking their heads trying to find a balance between income, subsidies and expenditure. It’s a matter of which government is more prudent financially. This post is about what you can do to cope with the rising inflation , where many are finding it hard to make ends meet. In many ways, these are also some of the methods that I employ.
Income
1. Be thankful with the job that you have. At least you have an income. Continue to find ways to increase your worth as an employee so that if and when appraisal comes about, your chances of getting an increment are higher.
2. Consider part-time income . How about blogging or making money online? I have a couple of sites and they supplement my income. All I need to do is to invest 1 to 3 hours a day. Do remember, however, that there are many things to learn about making money online and money does not drop down from the sky.
3. Create opportunities or look out for opportunities of income. Do not fall into dubious scams or get-rick-quick schemes. Anything that promises quick money must be treated as a scam until proven innocent . Read more