{"id":2327,"date":"2022-04-19T09:12:44","date_gmt":"2022-04-18T23:12:44","guid":{"rendered":"https:\/\/www.asapfinance.com.au\/?p=2327"},"modified":"2022-06-23T15:55:58","modified_gmt":"2022-06-23T05:55:58","slug":"coping-with-the-skyrocketing-cost-of-living","status":"publish","type":"post","link":"https:\/\/www.asapfinance.com.au\/de\/en\/coping-with-the-skyrocketing-cost-of-living\/","title":{"rendered":"Coping with the skyrocketing cost of living"},"content":{"rendered":"<p>Whether it\u2019s refilling your petrol tank or paying at the supermarket checkout, the higher cost of living is hitting every household hard.<\/p>\n<p>Across the world, everyday essentials are surging in price,\u00a0<a href=\"https:\/\/www.oecd.org\/newsroom\/consumer-prices-oecd-updated-3-march-2022.htm\" target=\"_blank\" rel=\"noopener\">up 7.2% year on year<\/a>\u00a0across the OECD. Unfortunately, experts predict that prices will keep rising for at least the rest of the year.<\/p>\n<p>What can you do to try to keep up with the increasing cost of living? Here are our 12 top tips:<\/p>\n<p><strong>Look for ways to earn more<\/strong><\/p>\n<ul>\n<li>Grow your business\u2019s profitability (talk to us about improving your profits) or ask for a pay rise.<\/li>\n<li>Take in a boarder or flatmate.<\/li>\n<li>Sell your unwanted items online.<\/li>\n<\/ul>\n<p><strong>Cut back where you can<\/strong><\/p>\n<ul>\n<li>Prepare more meals at home and spend less at caf\u00e9s and restaurants.<\/li>\n<li>Create a budget and keep your spending under control.<\/li>\n<li>Reduce the amount of meat you buy.<\/li>\n<li>Find ways to use your car less.<\/li>\n<li>Cancel your credit cards and your buy now pay later accounts.<\/li>\n<li>Review all your ongoing expenses like utilities, insurance and subscriptions \u2013 cancel, switch providers or get better deals.<\/li>\n<\/ul>\n<p><strong>Invest in your future<\/strong><\/p>\n<ul>\n<li>Think about investing in ways that are likely to outperform inflation \u2013 both shares and the property market have historically provided returns higher than inflation.<\/li>\n<li>Start a new business, launch a new product or service, or try a side hustle.<\/li>\n<li>Teach yourself about money and finances using free tools online and books from the library. Better money management will help you make the most of what you\u2019ve got.<\/li>\n<\/ul>\n<p>If prices rise by 7% this year, it won\u2019t be easy to increase your income by the same amount. But if you can increase your income by 5%, then make up the rest through savings, while also investing for the future, you can still come out on top once inflation settles down and prices stabilise.<\/p>\n<p>Worried about money? Talk to us. We have years of experience through many economic cycles, including previous periods of high inflation \u2013 and we\u2019re always here to help.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether it\u2019s refilling your petrol tank or paying at the supermarket checkout, the higher cost of living is hitting every household hard. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2329,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[1],"tags":[],"translation":{"provider":"WPGlobus","version":"2.10.4","language":"de","enabled_languages":["en","es","de","fr","ru"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false},"ru":{"title":false,"content":false,"excerpt":false}}},"jetpack_featured_media_url":"https:\/\/www.asapfinance.com.au\/wp-content\/uploads\/2022\/04\/grocery-1232944_1920.jpg","_links":{"self":[{"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/posts\/2327"}],"collection":[{"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/comments?post=2327"}],"version-history":[{"count":2,"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/posts\/2327\/revisions"}],"predecessor-version":[{"id":2330,"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/posts\/2327\/revisions\/2330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/media\/2329"}],"wp:attachment":[{"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/media?parent=2327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/categories?post=2327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asapfinance.com.au\/de\/wp-json\/wp\/v2\/tags?post=2327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}