Inflation is the highest in over 30 years. Much is expensive and it will be more expensive. For many, it really hurts the wallet when both food prices increase and the price of electricity is at a record high. Former presenter of Lyxfällan and behavioral scientist Patrik Wincent gives his tips on how to take control of your finances.
Think long term
– If you have shares, don’t sell them in a panic, but keep thinking long-term. Have ice in your stomach, it will turn around, he says.
A financially smart move can also be to review your eating habits and avoid food waste.
Don’t throw away food
– Especially in times of inflation, it’s like throwing the money in the bin. So try not to do that. Change your eating habits, try to find new behaviors that are more beneficial, he says.
It could be to replace more expensive raw materials with cheaper alternatives and buy food that is in season and therefore cheaper.
Watch the full interview in the player above.