5 Ways to Protect Your Wallet in an Inflation Storm
1. Move Money Into High-Yield Instruments
- Nigeria: Use T-bills,
commercial paper (CPs), or FGN savings bonds yielding up to 30% - UK/US: Explore I-bonds,
short-term bond ETFs, or 5%+ savings accounts
Rule: If
your savings rate is < inflation, you’re losing money.
2. Re-Evaluate Subscriptions and Recurring Costs
Cancel or
downgrade:
- Unused apps
- Streaming bundles
- Unnecessary software
Plug the
leaks before chasing more income.
3. Stock Up Smartly (But Don’t Hoard)
Buy
shelf-stable essentials before price hikes:
- Non-perishables, toiletries,
fuel, and key household items - In Nigeria: Prepay school
fees, electricity units, or rent if possible
4. Turn Cash into Assets
Use money
to acquire:
- A productive side hustle or
gear that can earn
Assets
> Savings. Every naira, dollar, or pound should work.
5. Ask for a Raise or Re-Negotiate Income
Inflation
= opportunity to revisit your value:
- Freelancers: Adjust rates
- Employees: Use CPI data as
negotiation leverage - Business owners: Adjust
pricing to reflect rising costs
Financial Juggernut Insight:
Don’t
Just Budget — Strategize
Budgeting
helps. But in high inflation, you need a playbook, not a spreadsheet.
Move
from:
- “How do I survive?” to
- “How do I outpace inflation
with my income, investments, and spending?”
