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A12 BUSINESS
Wednesday 6 July 2022

Millennial Money: What if you can’t

‘out-budget’ inflation?

By LAURA MCMULLEN and insurance. ganizations and recreation
of NerdWallet For credit cards, aim to pay centers. Or use virtual plat-
Inflation is a nightmare for your minimum at least, be- forms like Facebook and
the many Americans who cause you may need that Nextdoor.
already stretch their dollars credit access. In these in-person and on-
to cover basic needs. What TAP LOCAL RESOURCES line spaces, you may find
happens when those dol- If you're struggling to pay free or inexpensive goods
lars lose value? bills, find support. Luong and services. Maybe some-
Their choice is probably suggests Findhelp.org, one will give away second-
not about whether to cut which lists local programs hand clothes or walk your
streaming services or opt designed to cut costs dog while you work.
for store-brand groceries. across many categories. Or seek guidance. Your
Instead, they may have Calling 211 or visiting 211. neighbors may point you
to pick between buying org can also help you find toward free, nearby health
enough food and paying assistance related to hous- resources, for example, or
rent. ing, health, food and emer- describe what's helped
The families hit hardest gency costs. them stretch their money.
by inflation typically have PICK UP THE PHONE PROFIT FROM YOUR SKILLS
little in savings and other You may also save money Of course, making more
resources. And that lack by calling credit card and money helps, too. If you're
of access to wealth can insurance companies, already working, Kennedy
be rooted in a history of lenders, banks, cell phone recommends first trying to
inequality, says Phuong providers and other busi- increase earnings through
Luong, a Massachusetts- nesses you pay. your employer. Consider
based certified financial With the pandemic af- working overtime or ne-
planner and founder of Just fecting so many consum- gotiating raises and role
Wealth, a financial educa- ers, these companies "are changes, she says.
tion and consulting firm. a little more empathetic Or explore side work — with
For example, say genera- than they have been," says caution. Plenty of online
tions of your family have Emlen Miles-Mattingly, co- gigs could waste your time,
been underpaid or limited founder of Onyx Advisor take your money or misuse
in where they can live, due Network, a Sacramento, your personal information.
in part to racist policies. California-based support "It's high time for frauds and
Then inflation causes ev- platform for underrepre- scams," Kennedy says. Trust
erything to become more sented financial advisors. your gut, and read reviews.
expensive. They may pause or lower Also check the Federal
You may have to scrape to- payments, for example, Trade Commission and Bet-
gether cash to support not or forgive overdue bills. Or ter Business Bureau web-
just yourself, but also fam- they could lower your inter- sites for tips to avoid scams.
ily or community members. est rate. The most effective way to
Perhaps you have to spend But you have to ask. And make money? "Monetize
money and time traveling often a patient phone skills you already have,"
across town to the grocery call with customer service Kennedy says. These could
store or doctor's office. yields quicker, more effec- include anything from
"Your proximity to people tive results than an email or cleaning and organizing to
with resources and peo- online form. writing and designing.q
ple with wealth is going CONNECT WITH YOUR
to be different depend- COMMUNITY HTTA
ing on where you live and To overcome financial Renaissance Ocean Suites
who you are," Luong says. struggles, "community is Private islands
"There's a larger context going to be major," says 1 BR week 26 and 27
than just expenses and Dasha Kennedy, Atlanta- room # 2520
budgeting." based financial activist Harbor and ocean view
Whatever context de- and founder of The Broke Price : $6 K each
scribes your situation, here's Black Girl Facebook com- Call :011-297-630-1307
how to combat inflation if munity. johnnypaesch@gmail.com
money is already tight. Leaning on — or support-
PRIORITIZE ESSENTIALS ing — your family mem- HTTA
Aim to pay for expenses bers, friends and neighbors Property land for sale
that enable you to live can take many forms. For at shaba noord ( Matadera)
safely: housing (mortgage example, Kennedy points lot : 24 :887 m2
or rent), utilities and food. out how temporarily living lot : 25 :865 m2
Also try to cover costs that with others can lower hous- lot : 27 :918 m2
help you work, such as ing expenses. Or you can lot : 29 :675 m2
transportation, cell phone pool resources by sharing lot : 30:1222m2
and child care. a vehicle or splitting a large lot : 4 : 952 m2
Next-level priorities are expense. Price : $149 m2
those that trigger major To connect with supportive Call:011-297-630-1307
consequences if you don't locals you've yet to meet, johnnypaesch@gmail.com
pay: taxes, child support look to libraries, religious or-