You Can Beat Inflation Fears
ou Can Beat Inflation Fears
A few weeks ago, the University of Michigan released its monthly consumer sentiment index. This index gauges how American consumers are feeling about economic issues. The April 2026 index recorded at 47.6, the lowest level ever. That score shows the public’s high level of fear in light of rising prices.
Do you find yourself battling tinges of fear because of current inflation? You know, rising gasoline prices, the increasing costs of groceries, rising rents, surging utility costs, increases in your healthcare costs, and more. Our fears are not just about prices, but what we are expecting those prices to do, which is continue to increase.
Here’s some practical help for calming our fears over today’s rising prices of just about everything. I get it. You don’t want to eat ramen noodles every day and never have fun again. But the suggestions that follow will save you a few dollars here and there, while others could put hundreds back into your bank account.
First, increase your income. What can you sell? Is there a meaningful service you could perform for people that you could charge for? Could you mow some yards? Might it be necessary to take on another job? Can you switch to a cheaper cell phone plan?
Second, develop a budget and follow it. A budget helps us track our spending. Without a budget we will not know where our money went. A budget provides some protection from impulse spending, you know, unplanned purchases on the spur of the moment, often driven by emotion rather than necessity.
Third, shop smarter. Before grocery shopping make a list of meals for the week, and buy only those food items. Consider cutting back some on meat purchases. Buy store brands instead of name brands. Never go into a grocery store without a list. Otherwise, you will buy items you never intended to purchase.
Fourth, pare down debt. If you are carrying a significant amount of debt develop a plan for paying it down. Debt payments eat up your monthly income, leaving you with less spending power. Shopping smarter frees up money that can be applied to paying down debts.
Fifth, build some financial cushion. This step calls for creating an emergency fund for expenses not foreseen in a budget. Financial cushion eliminates panic when unexpected expenses arise.
Sixth, cook at home. Restaurant food prices have skyrocketed over the past year. Cooking at home can be a real game changer when it comes to saving money on food.
Seventh, minimize food deliveries. The covid epidemic brought about the comfort of food deliveries. If you are into food delivery, it will be hard to give it up and get back to normal. If you have a habit of DoorDash (or whatever delivery service you use), cutting back here makes room for other, more necessary, items in your budget.
Eighth, combine errands and trips. In recent weeks the cost of a gasoline fill-up in my car has gone from a typical $30 to $45. Rather than hop in your car multiple times a day, stack your errands and accomplish several in just one trip. This step will save you money at the gas pumps.
Ninth, trust God to supply your needs. He has promised to do this: “And this same God who takes care of me will supply all your needs from his glorious riches, which have been given to us in Christ Jesus” (Philippians 4:19, NLT).
God cares deeply for you. He knows your needs before you know them. When we trust God to meet our needs we experience peace amid inflation uncertainty.
