As inflation hits another record, here are 5 steps you can take to protect your money.
The reason for that is that stocks have a strong track record. Over more than 90 years, equities have had returns in excess of inflation, he said.
But if retirees find it difficult to pay for certain items, they should pare back their spending, he said. Variable expenses, like entertainment, would be a great place to start.this year, due to an annual cost-of-living adjustment that is the highest it's been in four decades.3. Negotiate your debts
"Having a fixed-cost mortgage with a fixed interest rate means that cost in your life, which is normally one of the larger costs in someone's budget, is not going to go up with inflation," Zuckerberg said.When buying new items, pay attention to deals that offer 0% interest for extended periods like 39 months for items like mattresses or home exercise equipment.
If you're not planning to buy a car now, you can still control how much you spend on gas by downloading an app to find the lowest prices in your area, he said.As prices for cars and home construction rise, one way to potentially get significant discounts on those big-ticket purchases is by bundling them.
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