6 Ways to Dodge Inflation in 2020

Inflation is unavoidable. As time marches on, the cost of goods and services tends to rise.

The good news? You have the power to fight back against these price hikes. A little intelligent planning — and a lot of smart spending — can bring inflation’s impact to heel.

Here are six ways to tame inflation in the new year.

Invest

As almost every financial expert will tell you, investing in the stock market gives you the best odds of keeping the value of your money ahead of inflation.

But, you will have to take some risk to achieve this result. Risk-free alternatives — such as parking your money in a bank savings account — are almost certain to put you at risk of seeing inflation erode the value of your dollars.

Nervous about taking the plunge? We’re here to help! Begin by reading “8 Basics That Beginning Investors Must Know.”

If reading that article doesn’t immediately calm your investing fears, don’t fret. Either start slow or spend more time learning about investing before taking the plunge.

And while you wait to get up your nerve, at least get the best safe return possible on your savings. Stop by our Solutions Center and look for a savings account with a great rate.

Eat smarter

There are plenty of ways to save on food costs. Follow simple tips such as buying in bulk and, when items are on sale, freezing what you don’t need and eating it later. You also can save by purchasing generics or store brands.

Also, check out our regularly updated deals page, where there are food freebies and discounts almost every day of the week.

Look for lower rent

There are a lot of good reasons to become a homeowner. But renting makes more sense for some people. If you are among the latter group of folks, look for a better deal on your rent in the coming year. For tips, check out “9 Ways to Save Big on Renting Your Next Home.”

Buy a used car

If you’re shopping for a vehicle, better fuel efficiency will save you money in the long run. And, in most cases, you’re much better off skipping a new car and buying something slightly used instead. For more tips, check out “5 Steps You Must Take Before Buying a Used Car.”

Seek financial aid

This seems like obvious advice for the college-bound, yet too many students miss opportunities to cut costs. Make sure you aren’t one of them by reading “15 Ways for College Students to Save Money.”

Give your health insurance a checkup

If you don’t have coverage through your employer, comparison shopping on insurance rates can save you more than an apple a day. For more advice, check out “How to Save on Rising Health Insurance Premiums.”

How do you tame inflation? Share your tips in comments below or on our Facebook page.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
Don’t Trash These 11 ‘Disposable’ Items — Reuse Them
Don’t Trash These 11 ‘Disposable’ Items — Reuse Them

Are you throwing away money? Consider giving these things a new purpose.

8 Common and Costly Homebuying Myths
8 Common and Costly Homebuying Myths

Think you’re ready to buy a house? Don’t fall victim to these rookie mistakes.

7 Tricks to Cleaning Your Bathroom in Minutes
7 Tricks to Cleaning Your Bathroom in Minutes

These tips can get your bathroom sparkling with little time and no elbow grease.

It’s Worth Paying Extra for These 14 Items
It’s Worth Paying Extra for These 14 Items

Here’s where to find the sweet spot at the intersection of price and quality.

3 Ways a Health Savings Account Can Improve Your Finances
3 Ways a Health Savings Account Can Improve Your Finances

Open an HSA in minutes to help you save on taxes, cover medical expenses and grow your retirement nest egg.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

11 Things Retirees Should Always Buy at Costco
11 Things Retirees Should Always Buy at Costco

This leader in bulk shopping is a great place to find discounts in the fixed-income years.

Over 50? The CDC Says You Need These 4 Vaccines
Over 50? The CDC Says You Need These 4 Vaccines

Fall is the time to schedule vaccines that can keep you healthy — and even save your life.

11 Household Items That Go Bad — or Become Dangerous
11 Household Items That Go Bad — or Become Dangerous

When you get the impulse to stockpile these everyday items, pay close attention to their expiration dates.

8 Things You Can Get for Free at Pharmacies
8 Things You Can Get for Free at Pharmacies

In this age of higher-priced drugs and complex health care systems, a trip to the pharmacy can spark worry. Freebies sure do help.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

These Are the 4 Best Medicare Advantage Plans for 2020
These Are the 4 Best Medicare Advantage Plans for 2020

Medicare Advantage customers themselves rate these plans highest.

The 10 Most Commonly Stolen Vehicles in America
The 10 Most Commonly Stolen Vehicles in America

A new model parks atop the list of vehicles that thieves love to pilfer.

This Is the Cheapest Place to Buy a Used Car
This Is the Cheapest Place to Buy a Used Car

Looking for a good deal on a set of wheels? This should be your first stop.

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

The 15 Worst States for Retirees in 2020
The 15 Worst States for Retirees in 2020

Based on dozens of metrics tied to affordability, quality of life and health care, these are not ideal places to spend retirement.

9 Deep Discounts Available on Amazon This Friday
9 Deep Discounts Available on Amazon This Friday

These items are all steeply discounted — but the deals won’t last long.

5 Ways to Get Amazon Prime for Free
5 Ways to Get Amazon Prime for Free

Hesitant to drop $119 a year on an Amazon Prime membership? Here’s how to get it for free.

11 Senior Discounts for Anyone Age 55 or Older
11 Senior Discounts for Anyone Age 55 or Older

There is no need to wait until you’re 65 to take advantage of so-called “senior” discounts.

26 States That Do Not Tax Social Security Income
26 States That Do Not Tax Social Security Income

These states won’t tax any of your Social Security income — and in some cases, other types of retirement income.

10 Reasons Why You Should Actually Retire at 62
10 Reasons Why You Should Actually Retire at 62

If you can, here are several good reasons to retire earlier than we’re told to.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

5 Keys to Making Your Car Last for 200,000 Miles
5 Keys to Making Your Car Last for 200,000 Miles

Pushing your car to 200,000 miles — and beyond — can save you piles of cash. Here’s how to get there.

7 Surprising Features That Boost Your Home Value
7 Surprising Features That Boost Your Home Value

You can add value to your home without hiring a contractor to do expensive renovations.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.