Inflation is a worldwide concern as we near the close of the month of May. Taking stock of my financial position, I set about to reduce what I spend each month, invest carefully and wisely, and make a concerted effort to save more money.

The first thing I did was evaluate my rental budget. As a single man, did I need a 3-bedroom apartment? No, so I downsized to a 1-bedroom and immediately saved money. I also moved to a different area of Texas where housing is more affordable.

Before

This was a very nice place to live with full amenities but it just wasn't financially sound in the present economy so I moved here.

After

It's a cozy 1-bedroom in a relatively peaceful area. Good view. Separate small office for writing. Quiet neighbors.

Investing wisely

I don't own stocks and have no plans to play the roulette market. It's a giant bubble waiting for a pinprick and the entire shebang will collapse. Instead, I have a little gold and silver stashed away. Precious metals are always a wise investment. Silver is selling at a good price so far. Both of these are great hedges against inflation.

I am also buying the dip and grabbing some #Cardano today. Gene Simmons (of rock band KISS fame) bought 300,000 coins months ago and made a lot of money. I'm thinking perhaps 40 coins. Of course, I am keeping my #BCH as well.

I am also buying a few more collectibles. I did sell an autographed picture of a famous Dallas Cowboy quarterback for $300. It cost me nothing but an hour of standing in a line. I'm also looking at antique horseshoes, believe it or not. There are a lot of collectibles to be had and profit from.

Inflation coming, maybe hyperinflation

The most important thing to me right now is saving money. With inflation on the rise and the expectation it will continue to rise pushed me into the decision to save more. In the U.S., inflation is at a 30-year high. Not good.

After the move, I observed I had too many things I did not need or even use. What I do not donate I'll sell in a yard sale and likely make $500-$700 in a weekend. At this time I don't know where or how I will save it. I'm not too keen on the low interest rates of banks. Besides, they just lend out our savings at a higher interest rate than their savings rates.

I also cut back on eating out. Yeah, it's fun, but more expensive. It was always convenient to me as a single man to eat out, as opposed to wasting food. It's hard to cook for one person. What I did was scour the recipes online for single persons and began making dishes than can be heated up. Thank you Mr. Microwave! I'm already seeing a slash in my food expenses. I also buy in bulk whenever feasible.

Advice

I am not a financial counselor. However, in light of the growing inflationary rate on a global scale, it makes good sense to prepare in advance for prices to rise and ensure I have a financial cushion if times get really bad. You should as well, because a lot of people are going to lose money and not be able to eat well.

I encourage you to sit down and take an honest assessment of your financial position. Where can you cut your expenses? Sell that second car? Move to a cheaper place? Cut down on dining out? Stop buying frivolous items? Stop trying to keep up with the latest fads? These are things to consider.

Are you able to invest in something that will hold or increase value? Crypto? Precious metals? Collectibles? Look into it and be wary of scammers on eBay.

What about your savings? Will you place your money in a bank or under your mattress? After all, inflation is eating up the interest rate on savings, so consider saving by buying something that will increase in value.

Staying ahead of problems is wise. Being financially prepared is wise. Since we are mere common people with no power to fight the financial institutions, we should strive to be prepared for the coming financial burdens the elite will unleash on us and their grab of our money.