To Beat Inflation, Rethink Your Expenses

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    In addition to other suggestions, such as eating beans and lentils in place of animal products, Bloomberg News suggests not letting sick animals go to the vet: “If you're one of the many Americans who became a new pet owner during the pandemic, you might want to rethink those costly pet medical needs. It may sound harsh, but researchers actually don't recommend pet chemotherapy — which can cost up to $10,000 — for ethical reasons.”

    Other suggestions include:

    “To cope with the high cost of gasoline It's worth considering public transportation, if it's an option in the area where you reside. The cost of fares is up by 8 percent compared to 38 percent for gasoline. It could be the right time to dispose of your vehicle. This is definitely not the right moment to purchase a brand new or used vehicle. Prices have slowed down slightly, however used car prices are up more than 40% over one year ago, while new cars are up by 11%.”

    In the case of food, don't be scared to look around. The cost of animal-based foods are likely to rise. Ukraine and Russia are major suppliers of barley and corn to the global market, mostly for feeding animals for human consumption. Prices for meat have increased around 14% since February 2021, and they are likely to rise further. While your palate might not be accustomed to it, delicious alternatives are vegetables where prices are up by less than 4%, or beans and lentils, which are increasing by about 9 percent. Make a plan to take out the middleman and consume the plants in a direct way. This is a better cost-effective, healthier, and less expensive method to get nutrition.

    In the beginning of the month, prices rose 7.9 percent in February, which is the highest rate of growth in more than four decades.

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