Simply Keeping Up With The Rising Cost Of Living

It’s Summer’s time, 1987, my friend and I are hanging out at the Laundromat scavenging for quarters that adults dropped by accident while doing their laundry. We have been crawling on our hands and knees for about half an hour. My friend lets out a yell of excitement as he holds up two shining disks, “Jack pot!”  We both scramble to our feet and ran out of the Laundromat. We know exactly where we’re going. 

There’s a small store in the middle of town that sells soda for fifty cents, and if we return the glass bottle we get ten cents back, which goes inevitably to our next soda purchase. Each bottle holds twelve ounces of soda, so it cost us only forty cents for each of us to enjoy six ounces of soda. I thought it was a pretty good deal until I told my Mom about it that night. She laughed and said that when she was my age she could get a soda for a quarter and she would get back five cents when she returned the bottle. My mind was blown. How could twelve ounces of soda only cost twenty cents just twenty five years earlier? That was when I first discovered that the value that money represented was not as stable as I thought. 

Fast forward thirty three years and I’m telling my daughter this story as she’s drinking her first soda that we bought for one dollar and fifty cents. The soda now costs more than three times what it cost when I was a kid! When the cost of soda went up the value that the two quarters represented went down. 

So, what is money anyway? Money is a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed. As that young kid I realized that money is always loosing value. What my young mind had grasped was the concept of inflation. Inflation is a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services. As inflation increases there is a reduction in the purchasing power of money. 

This seems like a real problem because eventually people can’t make enough money to sustain themselves. 

“What about the increase in the minimum wage?” You ask. 

Truthfully, Our minimum wage has gone up, but it hasn’t increased as much as the cost of living has increased, so there is still a big problem. 

Here are a couple ways to tackle the problem of inflation:

-Making more money is one way to keep up...

Setting up passive income and starting Side Hustles are good ways to bring in more income. 

Passive income can be a great way to help Us generate extra cash flow, whether We’re side hustling or just trying to get a little extra cash each month, especially as inflation dramatically rises throughout the Country. 

Passive income can help Us earn more during the good times and tide Us over if We suddenly become unemployed, if We voluntarily take time away from work or if inflation keeps chipping away at Our purchasing power.

With passive income We can have money coming in even as We pursue Our primary job, or if We’re able to build up a solid stream of passive income, We might want to kick back a little. 

Either way, a passive income gives Us extra security and peace of mind.

And if We’re worried about being able to save enough of Our earnings to meet Our retirement goals, building Wealth through passive income is a good strategy.

If you’re interested in making passive income Wind’s Stickr Referral Link is like collecting rent from a mini billboard on your car. 

Another way to increase Our income is to start a Side Hustle.

We can start a small business by selling products or services that people may want.

I sell products that have to do with my company “The Simplicity Lifestyle” through different platforms. If you’re  interested, one of my favorite platforms is Wind’s Gumroad Referral Link, but there are a lot out there. 

Another good Side Hustle idea is Affiliate Marketing, which involves referring a product or service, that aligns with Our Core Values, by sharing it on a blog, social media platform, podcast, or website. 

The Affiliate earns a commission each time someone makes a purchase through the unique link associated with their recommendation. 

Just remember to always be intentional with purchases. If a thing adds value to Our lives and the value is greater than the actual cost of ownership it may be worth bringing it into Our lives.

Personally I like being an Affiliate because it allows me to promote products that align with the Core Values of my business, which is good for my Patrons. 

It also helps keep my business operating, so it’s a win for everyone.

I believe that collaboration is better than competition. 

There are different Affiliate programs out there so if you decide to become an Affiliate make sure to do your research. Wind’s ShareASale Referral Link is an Affiliate Program that I like If you’re interested.

-A second way is to decrease the amount of money it costs to comfortably maintain Our lifestyle...

A minimalist lifestyle is the process of identifying what is essential in Our lives and selling, donating, or giving away the rest. When We stop living the Consumer Lifestyle and only purchase what’s necessary We don’t need as much money to sustain Ourselves.

Less truly is more! 

“The Simplicity Lifestyle” by Ted Wind 

By living a minimalist lifestyle it is possible to save some money over time. We can save money and put it into a savings account but the buying power of that money goes down as inflation increases. 

Minimalism is also an ideal lifestyle to have during unstable times with high inflation, because no one really knows what the future will bring. All We know is that things will probably be more expensive, so it’s good to be content with less. 

So, what should We do with that savings so that it doesn’t loose most of its value? 

-A third way, to keep up with inflation, is to own assets that match inflation, hopefully even surpass inflation...

An asset is anything that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash. 

We want assets that provide an income, like owning a rental property, or assets that gain in value over time, like Stock Shares, ETFs, and Cryptocurrency.  I use Wind’s Robinhood Referral Link and Wind’s Cash App referral Link if you’re interested.  

Personally, I believe it’s good to have a very diversified Asset Portfolio.  If Our assets can pay for Our expenses and acquire more assets, then We’re considered “Financially Independent!” 

I’m not a financial advisor so I can’t tell you how to invest your money, but I can say that Minimalism and starting a Side Hustle helps get that investment account started and helps you grow that investment account over time. 

The Simplicity Lifestyle Website 

The Simplicity Lifestyle On YouTube

The Simplicity Lifestyle On TikTok