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Inflation is at an all time high and that can be hard on your budget because of the price of everything is going up. Back with us with three steps to navigate inflation is entrepreneur, author podcaster, and former financial CNN analyst, Clyde Anderson.
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ERICA CAMPBELL: So let’s jump right in with step one, “reduce your expenses.” Let’s talk about it.
CLYDE ANDERSON: Yeah, this is where we got to go back to the basics, we have to start making things and when I say making things, we got to make a budget first, or what I call a “financial success plan.” You got to be making a list for your groceries, making lunch or dinner instead of eating out, making coffee instead of Starbucks and making a commitment to yourself. This is where we got to cut things as necessities only. That’s what we got to focus all right now.
ERICA: Wow, step to “increase your income and leverage the gig economy.” Tell us about it.
CLYDE: We talk about making more money, Erica. And the easiest way to do it right now is the gig economy. And we know about the common ones Ubers, that DoorDash. But this is where we got to tap into some of those non monetary assets that our time, our talents. And there’s things that we can do like consult, if you’re a teacher, you can tutor you can you can be a virtual shopper for someone. If you’re very organized, you can be a virtual assistant. And there’s websites out there like Fiverr and flex jobs that can help you do that you can make an additional $500 A month sometimes just using and applying those gifts and talents.
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ERICA: Wow. Step three, “build $1,000 inflation fund.” What is an inflation fun?
CLYDE: Well, this is what I like to call inflation fund is like having an emergency fund. You know, emergencies will happen and they don’t hurt as much if we’re prepared for him. And so we got to make sure we’ll prepare for these emergencies. And the way to do that is to make sure you’re saving what you can, Every dollar helps every dollar counts. And so whether it’s 10, 20 or $50 You got to be able to put something away and almost you got to make it a game but to do this give it a why. If you give it a why and name what it is, it’s a lot easier to hit that goal and put those dollars to that why.
ERICA: Wow, that is so smart. We are talking to financial expert Clyde Anderson, how can people get your books and follow you on social media?
CLYDE: They can find me at changeonpurpose.online and again, that’s changeonpurpose.online, they can hit us up, find out more and join the family and make sure that we’re guiding them in the right direction to hit these three things. And make sure that this inflation is not a budget killer.
ERICA: Yeah, I have okay, I’ve one more question. We know the holiday time is coming. And the Christmas, Christmas time hits people hard. What can they do to be prepared for this holiday season that’s on the way?
CLYDE: That’s a great, great question. I tell people all the time Christmas comes at the same time every year. Start being prepared for and we’re talking about putting something away. Call it a Christmas fun, call it a kid’s Christmas fund and start right now today taking something off the top whether that’s $50 Start applying that and set a goal and say this Christmas we’re only going to spend this and we’re not going to blow the budget.
ERICA: I love it. Thank you so much for being with us today. Give your social one more time and your website again
CLYDE: It’s changeonpurpose.online and you can hit me up at changeonpurpose.online or @Clydeonpurpose on Instagram.
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