Stressed from Inflation? 3 Ways to Cope with Rising Costs!


Rising inflation is on everyone’s mind.

Here are 3 ways to cope with the increased pressures of a higher cost of living. 

This article was submitted by a Guest Contributor. The opinions expressed in this publication are those of the Guest Contributor.

1. Stay committed to investing 

In times of financial uncertainty, it may be tempting to withdraw your money from the markets.

However, we all know that stashing money away under your mattress will only cause your savings to get eroded quicker.  

This is a good time to re-group, and re-strategize.

Rebalance your portfolio, rotate out of cyclical stocks, beef up your cash buffer to deploy at the right opportunity. 

Regardless of your strategy, just remember to stay committed to long-term investing. 

Don’t let your cash sit idle! 

There are more options than ever to maximize interest on your cash:

High interest savings accounts

Insurance linked savings accounts

2. Use a yearly budget 

With everything escalating in costs, it is common sense to cut costs. 

However, over-focusing on eliminating cents on the dollar, can rob you of the simple joys of living. 

Contrary to popular belief, you don’t need to eliminate your favourite avocado toast, or Starbucks coffee, to have your finances in check. 

Instead, take a wide angle view of your budget. 

Use a 6 month timeframe, or even better, a year. 


You will see big patterns emerge, and you can identify which months or categories are big outgoings for you.

This also allows you to plan for big expenses ahead of time.

You can have months to save (instead of having to drastically cut costs last minute). 

Having a big picture budget allows you to think about your financial future more accurately. 

  • Is your savings rate ideal?
  • Does your spending align with your values?
  • How can you challenge yourself to spend less money in this area? 

3. Manage your emotions 

Rising costs of living can make you feel stressed, anxious and overwhelmed. 

Get philosophical about money. 

  • What brings you joy?
  • Are you spending money to impress people you don’t even like?
  • Are you satisfied with your career? 

Focusing inward will make you a stronger and more grounded person. 

Also, remember that economic cycles are inevitable. 

With a smart budget and consistent investing, you will tide this through!

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