How to beat inflation - part 1

Published: Jun 15, 2022
Updated: Jun 29, 2022

Years ago I came across an interesting inflation-beating tip called “The Poor Man’s Strategy.” The name is based on the fact that anyone can do this.

Buying ahead #

The idea is to buy non-perishables now that you know for sure you’ll need in the future. Of course, you’ll stay within your budget to do this.

Here are a few examples:

Once you put your mind to it, you’ll think of all sorts of things. You could categorize these by use (e.g., automotive) and/or by cost.

Above: these German-made headlamp bulbs are 1/6th the price of the cheapest bulbs available at my local American auto store.

Sorting + prioritizing #

One popular idea is to create cost tiers, and to work on one exclusively before moving to another. For example:

Tier 2 is likely where most people will spend their money. Here are some examples to get your creative thinking going:

Car Personal care Clothing Household
bulbs soap, shampoo shoes laundry detergent
fluids + lubricants razor blades socks cleaning fluids
windshield wipers toothpaste underwear trash bags
cabin air filter saline solution tees light bulbs
battery make-up jeans fix-it items: duct tape, glue,
nails, caulking, etc

It’s kind of a fun exercise. Once you list your “must-have” non-perishables, you can sort the items by priority.

Buying ahead can be as simple as: you need trash bags, found a great sale price, and buy 2-3 instead of 1.

Also: think about getting some silica gel tins to keep tools and other stored items free of moisture.

I hope this is helpful!