US Inflation Rate Update: 7 Proven Hacks to Beat the Rising Costs

If you've been paying attention to the inflation news lately, you know that inflation 2024 is starting to hit us in ways we haven't seen in a while. The US inflation rate update just came out, and guess what? 

It’s risen for the first time since March. If you’re feeling the pinch at the grocery store, at the gas pump, or in your rent, you’re definitely not alone. But this isn’t the end of the world. Yes, rising inflation is back, and it’s something we all need to keep an eye on. 

But that doesn’t mean you have to sit back and let it eat away at your hard-earned cash. In fact, you can do something about it And I’m about to show you how you can protect your money.

Current State of US Inflation

inflation just hit 2.6%, up from 2.4% last month. While that may not sound like much, it’s significant because it’s the first increase we’ve seen in months. For a while, we’ve been told that inflation is under control, but that doesn’t seem to be the case anymore. 

This isn’t just about a little bump—this is something you’ll want to pay attention to, especially as we head into 2025. This inflation news matters because it affects everything from your morning coffee to your retirement dreams.

There’s more. Core inflation, which is the measure of inflation without food and energy prices, is holding steady at 3.3%. While food and energy prices can fluctuate a lot, core inflation gives a clearer picture of long-term price trends.

I've been getting tons of messages from my real estate investment community asking what this rising inflation means for them. Well, I'm about to break it all down for you, no fancy economics knowledge required.

The Federal Reserve's Latest Moves and What They Mean for You

On September 18th, the Federal Reserve made their first rate cut in four years. They lowered rates from 5.5% to 5.0%. Why does that matter? Because rate cuts make borrowing cheaper, which in turn can fuel inflation. When borrowing is easier, more people are spending money, which can drive prices up.

But the market seems to think the Fed rate cuts might not stop there. In fact, the odds of another rate cut in December have jumped from 60% to 82% since this report came out. And while that’s great news if you're looking to borrow money, it’s not so great for your money management if you're trying to hedge against inflation.

History shows that cutting rates too soon can backfire. If the Federal Reserve cuts rates too quickly, it can cause inflation to spiral out of control. It’s like putting a little more fuel on the fire that’s already burning.

7 Smart Moves to Protect Your Money Now

1. Double Down on Real Estate

One of the best ways to combat inflation is through real estate investing. Now, I know what you might be thinking: “Real estate can be a hassle!” But inflation and real estate tend to go hand in hand. As inflation rises, the value of your property can increase, especially if you’re holding onto income-generating real estate.

Real estate can seem overwhelming if you’ve never done it before. But trust me, there’s a way to make it work without all the stress. In fact, Epic Real Estate helps people just like you get started with their first investment property in 90 days or less. We partner with you every step of the way, making it easier than ever to jump into the world of real estate.

Want to learn more? Check out the Epic Blackbook, an all-in-one platform built to grow your real estate business. It’s perfect for managing contacts, lead capture, automated follow-ups, and much more.

2. Diversify Your Portfolio

While inflation hedging is crucial, don't put all your eggs in one basket. Consider a mix of:

• Real estate

• Commodities

• Inflation-indexed bonds

3. Stay in the Market (But Be Smart)

Yes, Bitcoin and stocks are on fire right now, but as someone who's seen multiple market cycles, I'd suggest holding off on cashing out for that Lambo just yet. 

You might not be able to avoid inflation, but you can adjust your spending habits. This means paying more attention to where your money is going. Are you spending too much on subscriptions you don’t need? Maybe it’s time to cut back on certain luxuries to keep your budget in check.

4. Plan for Rising Costs

Let's get real about inflation warning signs – expect your rent, utilities, and insurance costs to keep climbing. This isn't just an inflation forecast; it's already happening.

5. Think Long-Term

The latest inflation report suggests we might see things ramp up into late 2025, with the full impact hitting us by 2026. This is why building passive income streams through real estate investing is more important than ever. 

Pro tip: Use Seller Sniper to access 280 million contacts and find the best deals – it's a tool that's revolutionized how my clients source properties.

6. Build Multiple Income Streams

Regarding inflation protection, nothing beats having multiple sources of income. This is something I teach all my clients on their path to financial independence.

7. Keep an Eye on Inflation News and Fed Rate Cuts

Lastly, stay informed. The more you know about inflation news, the better prepared you’ll be. If the Federal Reserve continues with rate cuts, you can adjust your strategy accordingly. If they increase rates, you’ll want to know that too, so you can make smart decisions with your investments.

What This Means for Your Financial Future

This inflation vs savings battle isn't going away anytime soon. The Fed has made it clear they're more worried about deflation than letting inflation run hot. This means your personal finance strategy needs to adapt.

Remember, inflation explained simply is too much money chasing too few goods. But here's what most people miss – inflation doesn't explode overnight. There's always a lag, and today's numbers might just be the beginning.

Your Action Plan Starting Today

If you're serious about protecting your wealth against inflation 2024, here's what I recommend:

1. Start investigating real estate opportunities (I help busy professionals do this in 90 days or less)

2. Review your current investment portfolio

3. Build multiple income streams

4. Stay informed about inflation news and market trends

5. Consider inflation-protected investments

Inflation Isn’t Going Away, But You Can Beat It

The path to financial freedom during rising inflation isn't always straight, but it's definitely doable with the right strategy and support. I've helped countless professionals just like you transform their financial future through smart real estate investments, even in challenging economic times.

Remember, while this US inflation rate update might seem daunting, it also presents opportunities for those who know where to look. Whether you're just starting your journey to financial independence or looking to protect your existing wealth, the key is taking action now.

Want to learn more about protecting and growing your wealth in this “inflationary” environment? Let's talk and explore how real estate could be your hedge against inflation. After all, your financial freedom is too important to leave to chance.