Nowell Agency, Inc. > Insurance News > 6 Tips for Surviving Inflation 2022

6 Tips for Surviving Inflation 2022

Inflation has been a hot topic lately, with good reason, as recent world events have caused the cost of living to increase at an alarming rate. The current cost of inflation is at an all-time high – the highest in over 40 years! For many people, this is a serious problem that makes it difficult to keep up with the rising costs of basic necessities. Inflation can also have a ripple effect on the economy. When prices rise, people have less money to spend on other things. This can lead to reduced consumer spending, which in turn can lead to layoffs and decreased economic growth. Inflation can also lead to higher interest rates and increased borrowing costs, as well as soaring insurance costs. In some cases, inflation can even cause people to lose their homes or fall into debt.

But there’s hope! The best way to survive inflation is to be as prepared as possible. Try to keep your costs down and build up savings so that you have a cushion to fall back on. Stay informed about what’s going on in the economy so that you can adjust your spending accordingly. By taking the following steps, you’ll be better prepared to weather the effects of inflation.

How to Prepare for Inflation at Home

It’s important to understand how inflation in 2022 is working and what steps can be taken to survive it. You may be thinking about things such as what to buy before inflation hits, how to combat inflation as an individual or a family, and searching for general tips for how to beat inflation 2022. Those are all great things to consider!

Although inflation can be a difficult thing to deal with, there are ways to minimize its impact on your life. By carefully budgeting your money and making smart choices about where you spend your money, you can help yourself survive inflation and keep up with the rising cost of living. While these tips are by no means exhaustive, a few simple steps can get you on the right track!

bundle insurance

The Nowell Agency shares 6 tips for surviving inflation:

1. Get rid of debt. This will reduce your monthly expenses and free up more money to cover the rising costs of living and may save you from increased interest rates.

2. Make a budget and stick to it. This will help you control your spending and ensure that you are only spending money on essential items.

3. Start saving money. Putting away even a small amount of money each month will help you build up a buffer against inflation.

4. Invest in assets that will hold their value. Gold, silver, and real estate are all examples of assets that have historically maintained their value during periods of inflation.

5. Reduce costs. You’ll have to be prepared to make sacrifices. This can be in the form of reducing home energy bills, gas costs, and expenses such as dining, coffee, or entertainment. Or, it could mean focusing on spending money where you get the most value. For example, you may find that some of your subscriptions or memberships aren’t that important to you. Pausing or canceling these recurring charges could help you cut costs. Inflation can be difficult to deal with, but by making some sacrifices now, you can help ensure your financial stability in the future.

6. Consider bundling your insurance products. By bundling insurance policies with the same company, you’re likely to save on overall costs without sacrificing coverage. Nowell Agency offers a wide range of personal and business insurance products and we offer customized insurance plans that are designed just for you by our insurance professionals. Give us a call or click today to explore how we can help you save money on insurance!


The Nowell Agency is committed to providing you with fast and efficient service. If you would like a quote on any of our products please complete the short form below and click submit.

Get A Quote Form



    The Nowell Agency has been my primary agent for many years and they are attentive, well-staffed, and easy to talk to. Their agency has helped me through state to state moves and career change and kept my assets covered.

    James G.

    My very first insurance experience was when I bought my first house and I called the Nowell agency for a quote. I had no idea what I needed or how much and they were so very kind and knowledgeable and explained everything to me in detail which I so much appreciated. That has been 4 years ago and im still a customer never plan to leave.

    Ashleigh D.

    I have been very pleased with the quick and professional service by the Nowell agency. My agent was very efficient at locating a policy that met my needs and budget. Thank you to Kristy and the Nowell agency for providing me with fantastic customer service. I highly recommend this agency. You will not be disappointed.

    Tripp W.


    cheap cyber insurance near me

    Cybersecurity Tips for Online Shopping 


    December 08, 2022

    It’s the most wonderful time of the year to shop for your loved ones and the ever-increasing trend is online shopping. However, it’s important to remember that online holiday shopping can also expose your data to potential cyber threats. Experian reports that 43% of identity thefts occur while holiday shopping online. Thankfully, there are steps […]

    6 Tips for Saving Money on Teen Auto Insurance 


    November 19, 2022

    As the teenage years approach, parents across Amer...

    How to Prepare for a Recession: 5 Tips for Small Businesses


    November 19, 2022

    The U.S. annual inflation rate just reached a 40-y...