A lot of people and a lot of businesses especially landlord is profiting from inflation right now and here how they are actually doing it. I’ve people that do services for me raise their price by nearly double, once inflation goes down, they keep the prices the same. I know people that have gotten lease renewals at around 10-20% more than they used to pay, because we don’t know what might happen inflation (but I don’t see any clauses of if inflation goes down, we will lower prices). Also, if you notice car companies like tesla always raise prices because they don’t know the prices of raw materials in the next few months.
However, the Fed is literally raising rates aggressively and saying they will put things under control. Not to say that fed has ultimate control or anything or we should trust them. But I’m saying people are profiting from this.
So, I want you to profit for as well (and profit doesn’t mean more money but it can also mean less of something)
😎Call Me😎: https://bit.ly/30IBr0i
😎Second Channel😎: https://bit.ly/3c4sVPS
👨🏽💻Financial Freedom Course👨🏽💻$100 OFF CODE: LONGTERM
Link: https://longtermteam.teachable.com/p/financial-freedom-steps-from-nothing-to-freedom
💰MY M1 FINANCE PORTFOLIO💰 PLUS $10
Link: https://m1.finance/37SHd4241z-N
Inflation tricky because its literally money losing it buying buyer, meaning you need more money to buy the same the same stuff ( prices go up )
1. Paying of Debt
Inflation Is an amazing thing for your debt
So much so that back in the roman era ( they would inflate the currency by putting less gold in each coin and being able to make more them, thus be able to pay off their debts faster )
So in theory if you owe someone 100k ( that money can buy a house, a car, vacation and pay for a wedding )
But now inflation runs like crazy ( that money can only buy a car, vacation and wedding )
That means you effectively owe less money
So what do you do:
Watch until Number 3 but the idea is using all the extra cash to pay off debt as fast as possible
This way you lower the amount of money you have
2. Selling Assets you Don’t need for a Massive Profit ( and buying Cheaper replacement)
For the first time ever you can buy a car and then after using it sell it for a profit
That’s normal in the high-end car market, where you have very few and so on
But with normal cars that almost unheard off
Also something with houses and other things you might not need
So for example:
If you held more than have your annual income in cars, then most likely you can't afford that car and you should sell it
But before by selling it you would still owe money on the loan
But right now you could sell pay off the loan and potentially even have some money left ( it’s a perfect time to correct a mistake ) – likewise with a house
The big worry is:
But if things keep going up in price doesn’t that mean I wont be able to repurchase at that same price
For house maybe but there are other house available that better fit your budget
This is something I would do to correct a mistake
3. Asking for a Raise or switching Jobs
- the job market is massive right now
- if money is worth less, then people have to more of it
- so this is the perfect time to ask for a raise or just switch jobs
A little tip :
A lot of high performers tend to switch jobs every 2-3 years or ask for raises
It’s a way to make sure you are still getting a competitive salary
So this is super important because by staying In the same company at the same wage, effectively you are poorer because the same money can buy less but you are doing the same job
* PRO TIP*
INFORMATION IS EVERYTHING
💲1 on 1 Talk + My Budget + Stock Investments💲
https://www.patreon.com/tommybryson
👕Merch👕
https://teespring.com/stores/tommybryson
✅2 FREE AUDIOBOOKS✅
https://amzn.to/2Enayo8¬¬¬
💰M1 FINANCE $10💰
https://m1.finance/37SHd4241z-N
🎁ACORN FREE $5🎁
Link: https://acorns.com/invite/38EYSU
⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: https://amzn.to/2VGbxt9
👨🏽💻DISCORD PRIVATE GROUP👨🏽💻
https://discord.gg/EcZEHpA
My Camera Gear: https://www.amazon.com/shop/tommybryson
✔ Help Us Reach 500,000 Subscribers: https://goo.gl/0wvm6w
😎All My Social Media😎
Link: https://linktr.ee/tommybryson
*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
0 Comments