Inflation & the R Word
I try to stay tuned to economic news because it directly affects you and me. I do my best to try to share what I know in an effort to save you money.
If you're like most, you might want to improve your home. Perhaps you want to build a room addition, remodel your kitchen, or just put a new roof on your home. You need sweet moola to do that.
Each day the money you store under your rug, in a mattress, or in a savings account is eroding in value like the Vishnu Schist succumbs to the flowing waters of the Colorado River in the Grand Canyon. Lately, the erosion rate of the value of your money is out of control
People that know me, especially Kathy and other close dear friends, know I'm the eternal optimist. I'm a the-glass-is-overflowing-and-flooding-the-kitchen-floor person, not a half-empty-glass guy.
That said, I'm deeply concerned about the future. Just a few days ago I got my propane tank topped off for the rest of the year. I negotiated a great price last June of $1.99 per gallon for a total of 2,500 gallons.
I wanted to fulfill my contract and get the final 159 contract gallons put in the tank. However, it took 190 gallons to top it off.
The current market price for the overage propane I purchased was $4.34 a gallon. GULP!
It seems the price of everything is going up faster than a jack-in-the-box pops out of his dark creepy lair.
The single-digit inflation rate being reported in the news is a half-truth. Remember what I said last week about STOP TRUSTING what you hear from people/leaders/authority figures? That number is baked more than Kathy's root-beer chocolate cake last week.
The actual inflation rate is much worse for goodness sake. I peg the actual year-to-year number this past March to be kissing 17%. Heck, it could be as high as 20%. You know this to be true as you look at the double-digit price increases you're seeing in the things you buy.
Just a few days ago I went to get materials at the grocery store. The price of North Country smoked turkey breast is only up 40% in the past nine months. Nothing to be concerned about, right? WRONG!
Do you follow stock-market news at all? Did you see the news about Amazon? Their shares dropped 9% a few days ago when they reported much lower earnings due to high fuel costs and increased costs to operate their distribution centers.
Did you see the news about the drubbing the one stock-market index suffered in the past few days? If you're not skimming stories like this each week, I recommend you consider doing it.
With energy and food prices taking more of our disposable income, we have less to spend on other things. As the sales of all those millions of products drop, the economy contracts or recedes. That's the R word - Recession.
I'm convinced we're going to experience a severe recession beginning in the next few months. This means you shouldn't overextend yourself. It means you need to be prepared to hunker down for months and months.
Another news story confirmed what I suspected. It contained the sobering news no one wants to hear. If you're to believe the report, the US economy contracted an an annualized 1.4% rate in the first quarter of 2022.
Now is the time to stockpile dry foods and have three or four months of actual cash on hand. If you do all your finances electronically, there could be disruption in that system. If that happens, how will you buy anything?
The forces that are about to shake your personal economic snow globe are strong. Don't underestimate the severity nor the length of this looming financial event. You MIGHT be doing home repairs yourself because you can't afford to hire it out. If that happens, never forget I can help you save thousands of dollars.
I just bailed out Angel a few days ago as she got deeper into her attic-dormer project. Several days ago I helped Mark save thousands of dollars coaching him over the phone with his DIY septic tank installation project.
Mark opted for my transcribed coaching call. Within an hour of the call, I sent him a recording of the actual call plus a transcription he can print out to read.
GO HERE if you want to see a FREE SAMPLE of a typical transcript. This sample is just the first few minutes of a call.
A transcribed call is the only way to go. Mark was so happy with the result, he scheduled a second transcribed call about building an underground shelter I mentioned in last week's newsletter.
Using my transcribed-call service, you don't have to take notes wondering if you forgot something I said during the call.
What About Gutter Guard Cost?
I've been seeing more smarmy TV commercials preying upon folks like you. I'm talking about a national company that sells gutter guards.
Did you know I did a survey on what they cost in different cities across the fruited plain?
Go here and be sure you don't get taken to the cleaners.
Do You Pay For Offsite Storage?
Do you rent one of those offsite storage rooms or spaces? What are you paying each month? $125, $150, $195?
How would you like to STOP paying those bills?