The stoner’s guide to surviving inflation

Ah yes, the sweet sting of inflation. If you play the game every week: “Is food more expensive today than last week?” and where the answer is usually “Yes!”. Inflation is a game where everyone loses… but some lose more than others.

This was pointed out in an article in Bloomberg where the author noted;

“If your income is more than $289,000 a year, the rise in gas prices can be alarming – but it’s unlikely to affect your overall finances. After all, Americans at this level spend no more than 1% of their net pay on gas and oil, according to the Bureau of Labor Statistics.

For those earning much less, it’s a different story. Those with a median income of around $50,000 spend more than 3% of that on gasoline and motor oil. Low-income households, earning between $7,000 and $19,000, spend about 9%. The latest inflation figures show gas prices up 6.6% mom in February – even before President Joe Biden banned US imports of Russian oil.” – Bloomberg

Considering that approximately 50% of the US population earns $50,000 a year or less and 80% earns less than $100,000 a year. If the Bloomberg author raises to the minimum income bracket of $300,000 per year, well, that’s about 10% of the US population who will be “okay” with inflation.

So what about the remaining 90% of the population? Well – according to the article, they recommend some pretty crazy solutions. That’s why we’re going to delve into some of their most painful ideas and provide the “Stoner Solution” that could potentially help you get better during these tough economic times.

Note – these are ideas only, do not take them as advice. Rather something to nibble on.

Sell ​​your car!

To deal with gas prices, it’s worth reconsidering public transport if it’s an option where you live. Fares are up about 8% compared to 38% for petrol. Now might even be the time to sell your car. It’s certainly not the time to buy a new or used one. Prices have stabilized a bit, but used car prices are still more than 40% higher than a year ago, and new car prices are up 12%.

This is probably one of the worst pieces of advice ever. While it’s true that spending on gas might not be that easy, selling your car means getting rid of a tool. A vehicle is not a luxury if you drive it to work. It helps you when you need to take someone to the hospital and can be used to make money through things like Uber Eats or similar asset sharing platforms.

Stoner Solutions:

If gas is a problem, consider carpooling with co-workers. In this way you reduce all costs and at the same time reduce emissions. It should be something we should have been doing a while ago — and if companies really cared about social wellbeing, they would be incentivizing carpooling now more than ever.

While you’re commuting and your car is in decent condition, you can use it for Uber or any ridesharing service and find someone who needs a job to drive while you’re at work. You can let them use your car for “gas + 30%” of their income. Other people charge 50% of their earnings as they have to pay for insurance etc – but I’ll leave that in your good hands.

Selling a car that allows you to make money while not driving is a better solution than selling it and using public transport.

stop eating meat

Meat prices have risen about 14% since February 2021 and will continue to rise. Though your taste buds might not be used to it, tasty meat substitutes include vegetables (where prices are up a little over 4%, or lentils and beans, which are up about 9%). Plan to cut out the middle creature and consume the plants directly. It’s a more efficient, healthier, and cheaper way to consume calories.

While it’s true that meat is on the rise, “leaving out the middle ground” isn’t necessarily “more efficient, healthier, or cheaper.” The fact is, you need to consume more vegetables to cover the same calorie intake. In other words, you’ll get hungry faster.

stoner solution

Preserve your meat by creating dishes that add volume to a dish. Stews, pasta, etc. – these are relatively cheap dishes where “meat” does not become the staple of the dish. You can also switch between meat and plant-based dishes — but the notion that plant-based is healthier, more efficient, and cheaper isn’t necessarily true.

Preparing vegetarian food from scratch is actually very time consuming. If you naturally want variety in your palette. Of course, you could buy the pre-made stuff – but that’s expensive and defeats the point of the meat substitute.

But if you have the time, you can definitely play around with your dining options.

Don’t buy in bulk?

And don’t buy in bulk – you don’t usually save money by buying more. Sure, there may be great deals, but most consumers fall for the tricks that tempt them to spend more — things like offering free samples that often lead to impulse purchases, or placing discounted, high-priced items in the store near the entrance. If you absolutely must buy in bulk, try having a friend so you can split some of the cost and make sure everything is eaten or used.

This is probably the worst advice in the article. You actually save money when you buy in bulk, and while the initial cost may be higher, the savings add up over time. Some bulk purchases are stupid, others can save you a lot of money.

stoner solution:

Just like carpooling, you can shop together. I did that with some hippies in a beach community back then. Certain shared items are shared by everyone. This saves you pennies on common consumables such as

Toilet paper, toothpaste, oil, sugar, salt, etc…

Things you need again and again. If the initial cost of buying these items in bulk is too much, you reduce the financial impact of the initial purchase by getting everyone who needs them to help and you can save money through the consumption process.

bottom line

I’m not an economist but I know the sting of poverty and it’s easy for people to write what they should and shouldn’t do in times of high inflation – but if their solutions are to be ‘poorer’ then I think it needs to a stoner to fix things.

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