Folks, let me tell you about a young man who called me recently, very worried about his financial situation. This guy, fresh out of college, just landed a sales job making $66,000 a year. Now, in the good old days, that was a great salary. But today, with this crazy inflation, he’s barely getting by. He asked, ‘How do I deal with high inflation?’
Here’s his monthly expenses:
Rent: $1,800
Car Note: $800
Car Insurance: $400
Utilities: $200
Food Expenses: $1,200
Other Expenses: $250
Total: $4,650
He’s grossing $5,500 a month, taking home about $4,600 after taxes. But he’s just treading water, folks. And you can’t get ahead by treading water. He’s got big dreams of becoming wealthy, but with his current situation, he doesn’t see how he’ll get there.
The Reality of Inflation
He asked me, “What can I do?” And let me tell you, many Americans are in the same boat because of this out-of-control high inflation. Here’s the tough truth I shared with him about how to deal with high inflation.
“Prices aren’t going down. They’re staying high, extremely high. Home prices, rents, food costs – they’re all up, and they’re staying up. So, you’ve got one option: you must increase your income. It’s the one thing you can control.”
The Solution: Make More Money
You need to major in making money, folks. Your focus must be on increasing your earnings. Control your thoughts, your attitude, and your actions. Think like you’re in business for yourself, even if you work for someone else. Your goal is to maximize your income.
Steps to Boost Your Income
Here’s what you need to do:
- Protect Your Job: This is crucial. It’s your income source. Love your work. Show up every day, on time, not late. Take on extra work, do overtime if you have to.
- Please Supervisor: Your supervisor is like your customer. Your job is to make their job easier. They decide if you keep your job, if you get raises, promotions. Find out what they expect and deliver it.
- Become an Expert: Learn and master your job. Be a producer. Deliver high-quality, high-quantity work. That’s how you impress your supervisor and earn raises and promotions.
Conclusion: Control Your Destiny
By following these steps, you can handle the inflated cost of living and move toward your financial goals. It’s all about controlling what you can – your effort, your dedication, and your income. With the right attitude and arduous work, you can overcome the challenges of high inflation. Believe me, you can do it.