THIS is the last part of my column about the malady of our times – inflation.
The first part of the column was published in this newspaper on October 15, 2018, the second on October 22.
By way of a summary, inflation affects you and me, and almost everybody else. During inflation, we are not able to buy the same kilos of rice, or fish, or vegetables, and the same number of other basic commodities, as well as services, compared to last year with the same peso.
We cannot stop inflation but there are doable tips to soften its effect on us, as we go on living day by day. Below are the sensible and doable tips that I have listed, based on my own experience and the experiences of other people.
1) Save electricity and water
Before the cost of your utilities increases to a maximum, think of ways to save on your monthly bills.
To save electricity, switch off and unplug appliances. An easy way to lower down your electricity bill is to turn off appliances when you're not using them. When things like computers and TVs switch into standby mode, they still use electricity, which can really add up over time.
So, develop the habit of turning off and unplugging your kettle, washing machine and other items when you're not using them.
To save water, take shorter showers. Turn off the tap when you brush your teeth.
Fix plumbing leaks around the house. Dripping taps and leaking toilets are not only annoying - they could be adding extra costs to your water bill. Get these leaks fixed as soon as you spot them.
2) Ask for a salary increase
You can negotiate with your employer to give you a salary increase, so your earnings can cope up with the increases in prices of goods and services.
3) Diversify your source of income
If you don’t foresee a pay raise sooner, find another source of income or sideline, like starting your own small business, make money from a hobby, or find other ways to pick up a little extra cash.
4) Saving money on fuel
With the price of gasoline and diesel increasing by the month, saving money on it is one of the many areas you should focus on if you own a car.
These include not driving too fast or too slow. It takes 20 percent to 30% more gas to drive at 70 mph than 50 mph. Also, accelerate slowly after stops.
If work is close enough, consider taking public transportation, like a passenger jeepney.
5) Grow your own food
Start your garden to grow your own vegetables. If you have limited space in your backyard, you can do hydroponics.
According to WikiHow, hydroponics is a gardening system where you grow plants in a soilless solution, usually water. A hydroponic garden has a 30-50 percent faster growth rate and a larger yield than a soil garden. Hydroponic gardens also have fewer issues with bugs, pest, and disease. You can then maintain the hydroponic garden as it develops and enjoy happy, healthy plants at home.
There are many people here in Bacolod and Negros Occidental who have hydroponic gardens, and there are also some experts who are willing to conduct workshops in building the garden.
6) Find and buy substitute products
Substitute products have lower prices. For example, Sinandomeng rice to other cheaper rice varieties. Imported versus locally produced goods. Brand new car to used car. Samsung to Huawei to Cherry Mobile phones. Starbucks coffee to the 3-1 coffee mix. Or brand new clothing to ukay-ukay. No wonder, the ukay-ukay stores have become popular these days, with many buyers.
7) Buy generics
To save money, give up your brand loyalty and find equivalent products by switching to grocery store brands, generic prescription products, store-brand over-the-counter medicines and store-brand clothing.
8) Exercise
The cost of getting sick and hospital care is also growing in times of inflation. As the saying goes: “Bawal mag kasakit.”
The usually advertised and promoted Health Maintenance Organizations (HMOs) as a remedy during sickness are not really the solution. In fact, the premiums are also costly and getting high.
The best way to bring down costs? Be healthy by exercising! As my physician friend told me the other day, “Exercise is the best medicine.”*
(For feedback and comments, e-mail eligat_ph@yahoo.com)