Inflation-Proof Your Wallet

If you’ve been to the grocery store recently and experienced sticker shock, you’re not alone. Food prices are up 31% since 2019, leading many Americans to shop at cheaper stores, purchase more value-brand items, and forego ‘luxury items’ like coffee.

Last week, we inspected egg prices at three different grocery stores in northern VA and interviewed shoppers about their concerns. This week, we’re sharing strategies to help you beat rising prices. More below!

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Feeling the pinch?

Inflation is just a fancy way of saying “stuff costs more than it used to.” Measured by the Consumer Price Index (CPI), it tracks how much prices change over time.

A little inflation can be deemed normal and even good for the economy. However, if it gets out of control, paychecks don’t go as far, savings shrink, and working families suffer.

Currently, the U.S. inflation rate is hovering around 3%, which is better than the 9% rate we saw in 2022 in the midst of the COVID-19 pandemic, but still higher than the Federal Reserve’s 2% goal of a ‘soft landing’.

What's getting more expensive?

• Groceries: Egg prices have seen significant jumps, at one point rising more than 70% in January due to a massive bird flu outbreak (and not encouraged by DOGE’s firing…and then flustered rehiring of bird flu experts).

• Housing: Both rental costs and home prices have continued to rise due to increased demand and limited supply.

• Streaming services: Think you’ve seen the end of price hikes? YouTubeTV just went up $10, and Netflix is expected to increase prices later this year, too.

• Travel: Airline ticket prices are up 25%, all while spending at airlines and travel agencies is up 60% year-over-year.

Smart money moves

With prices still rising, making small but strategic decisions in the grocery aisle AND in your career can help you stay ahead of inflation. Here are three actions to consider:

1. Audit Your Budget – Take a fresh look at your spending. Are there subscriptions you don’t use or even need? Can you switch to lower-cost alternatives for everyday expenses? #NotSponsored, but the Rocket Money app is a huge help to cut these costs. Once you trim the excess, set up automatic transfers to savings—even if it’s just $10 a month (every dollar counts)!

2. Increase Your Income(s) – If you aren’t earning your market rate, you need to negotiate (like, yesterday). Also, consider getting a side hustle (find your perfect type of side hustle here). Whether you’re freelancing, selling digital products, or picking up gig work, having more than one income stream gives you flexibility when prices fluctuate.

3. Negotiate Everything – Salaries, bills, rent—it’s all up for discussion. Request a better rate on your internet, ask about rebate programs, or even try negotiating medical bills. The worst they can say is no! Here are 12 things you didn’t know you can negotiate.

What did we do before Salary Transparent Street? In this episode, James breaks down his career path from the Marine Corps to the Pentagon to behind the camera of our viral street interviews. Plus, how much did he make along the way?

Hannah’s career breakdown is coming up next. Stay tuned!

• Salary’s just the start! 🤝 Here’s how to negotiate job perks that can go towards your daily life and routine.

• 731K workers in Michigan just got a raise 💰 Governor Whitmer signed legislation increasing the minimum wage and expanding paid sick leave policies.

• DoorDash delivery workers get paid back 🛒 60,000 workers will share the company’s $16.75 million settlement, receiving between $10 to $14,000 each.

• The perfect job for introverts 👉👈 Training AI takes less than 30 hours per week, with workers earning as much as $30/hour fully remote.

• An economic blackout is coming on February 28 🔦 Here’s why people are planning to hit pause on spending. We’re in - are you?

One last thing! Want to support federal workers impacted by layoffs? Show up for local businesses that are offering discounts and assistance. Here’s how some D.C. businesses are stepping up, and how you can make a change, too.

Stay informed, stay engaged, and we’ll see you in your inboxes next week!