Question about inflation and my idea about how to handle it. Electrical Engineer here,so please bear with me if I use non economics terminology.
So as we see the prices are going up for everything.
I intend to fight inflation by adjust my finances by ordering Pizza once every 3 weeks rather than every week. I will not be buying new sneakers from Amazon but just use the sneakers I have for a few more years. No new Gym equipment. More entertainment watching free youtube rather than pay for videos. My Samsung galaxy will not be replaced by another newer samsung galaxy. I will keep the heated blanket that I have rather than buy a new one in the fall.
Yes, my consumer lifestyle will change and I will refuse to buy 'comfort' stuff like new sneakers, a new phone, a new TV etc.
Is what I plan on doing financially wrong ? Could it come to haunt me later?