3 ways to protect your money in a slowing economy

The video discusses how economic fluctuations are often beyond our control, but offers strategies to manage personal finances effectively. It covers cutting discretionary spending, managing subscriptions, strategic shopping, renegotiating bills, increasing income, and investing in inflation-protected securities. The focus is on taking control of financial responses to inflation.

What is one immediate way to improve cash flow according to the video?

• Invest in stocks

• Trim discretionary spending

• Take a loan

• Increase credit card usage

Why is it important to manage subscriptions carefully?

• They are always free

• They can lead to unexpected costs due to inflation

• They never increase in price

• They are essential for daily life

What is a suggested method for saving money on necessary purchases?

• Compare prices and buy in bulk

• Avoid using coupons

• Purchase items individually

• Always buy the most expensive brand

Which of the following is a way to potentially increase your income?

• Rent out extra space or tools

• Spend more on luxury items

• Avoid all investments

• Keep money in a low-interest account

What is a benefit of investing in TIPS?

• They are risk-free and offer high returns

• They offer fixed interest rates

• They are backed by the US government and indexed to inflation

• They are not affected by inflation