While none of us what to see the US dollar collapse, we have to be faced with the reality that it can happen. The economy is in very poor shape right now and that means hyperinflation can take place. There are steps you can take that will help to reduce the impact on you.
Do you have an economic vehicle? When prices at the pumps go up such crunches are tough. You need a vehicle that is good on fuel. It may be a good time to turn that gas guzzler in for something that benefits you more. There are tax credits too for investing in a hybrid vehicle so you may want to go that route as well.
Consider changing jobs or trying to work at home a few days a week. By doing so you will be able to cut down on commuting. Think about using public forms of transportation or car pooling too so that you can reduce overall fuel expenditures.
Smart shopping is very important if you want to reduce your expenses on food. Take the time to go through ads that the grocery stores offer. Plan your menu around what is on sale. Avoid processed foods as they tend to cost much more. Try to buy in bulk too on items you will use often.
Plan meals for at least one week at a time too. Then you will reduce the number of trips you have to make to the grocery store per month.
Consider growing some of your own foods too. This includes fresh fruits and vegetables. It isn’t hard to create a garden and your entire family can take part in it. The cost of preparing it and nurturing it will be far less than buying such food items at the grocery store.
Two of the big increased costs during hyperinflation have to do with increased utility costs and increased fuel. By going with sources of alternative energy though you will be able to get what you need for less. These sources include solar energy, wind energy, and hydro power.
There are grants in some locations as well as tax credits that can assist with the cost of these alternative energy benefits. It is worth it to look into what can be done. The additional of solar energy panels for a home or business is a very typical way to get started with these ideas.
In the old days when money had little value bartering was very common. You can go back to incorporating such ideas too. For example you can clean for someone and they can watch your children. You can do your friends taxes and they can create a website for your business.
There are so many ways that bartering can take place. The idea is to get value in exchange for something you can offer someone else of value. Then you can both accomplish what you need without it being a dollar amount expense to either one of you.
While the dollar may be losing its overall value due to inflation – and it will be definite in hyperinflation, gold continues to do better and better through all of this. Buying gold is considered to be a hedge against future inflation and definitely against hyperinflation.
This is because the higher the rate of inflation the more the gold is worth. The changes in supply and demand in the country and around the world impact the price of gold on a regular basis. There is a great deal of information you can refer to that will show you the statistical trends of buying such a commodity.
Gold is a commodity that is produced specifically for people to accumulate. That is what distinguishes it from other commodities that are produced for the sole purpose of them being consumed. The fact that gold is also universal and accepted in every country around the world though is why it does have a substantial value.
Of course as the rate of inflation goes up, the cost of gold that you will be investing in is going to increase too. The longer you wait to buy it the less you are going to get in return for your investment. When the dollar is weak the price for this precious commodity is also going to be higher than before.
Gold is the reserve though for value in place of dollars and coins around the world. The more gold a person has the less tensions they should be faced with when it comes to the economic downfall. The market can collapse, banks can be involved in various scandals, but at the end of the day gold will still be gold – and it will still be of value even during hyperinflation.