Cost of Living: Do I Live in the Same Place?

I continue to watch the financial markets in general as I am trying to balance out my approach of saving and investing for the future with regulating my expenses to enable the first more purposefully. The markets continue to be volatile and I do not think it will end anytime soon which is why I am still staying away despite the urge to participate to capture some opportunities to get my capital working once again. However, the inconsistencies with metrics and what I experience on a daily basis while living continues to concern me as something does not feel right.

There was a bit of a buzz this morning as the Consumer Price Index (CPI) which is a key measure of inflation ticked higher as Energy and Housing costs continue to increase. These inflationary pressures concern many market participants but given the long time it has been relevantly tamed, most have become complacent with these indications as many believe these are short term fluctuations. However, I cannot seem to tie this with my experiences I live on a daily basis with my family.

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I understand that fuel changes price everyday but aside from this cost, doesn’t it feel that maintaining a vehicle or even driving one is more expensive than it once was? The cost of repairs, parts, and use of my vehicle has grown quite a bit as I remember it. I recall going to a Quick Lube place and paying $20 to get my car up to date and ready to go. Now, that seems to be like $50 and always with the need to change something different which adds to the cost. Even driving is expensive as tolls and parking have become ridiculous. I remember when going to a hospital did not have a component of paying for parking but that has all changed! It is incredible that using a car sharing service seems cheaper than actually owning a car these days.

I won’t even get into Housing costs but I have genuinely begun to reconsider home ownership given maintenance, repairs, insurance, and taxes! Not only does it cost more these days but the effort and stress it causes must be an added cost I have yet to consider. The fact is that living is becoming more costly. I have been trying to become more conscientious of my expenses and while I see where there are many opportunities, it seems that the cost of living in many aspects has become a luxury. I am embarrassed to really go into details as I may sound ungrateful or spoiled but the reality is that this must be unsustainable as I humble myself to seeing the basics we truly need.

The thought crosses my mind that there are so many factors in our economy given the way debt and derivatives have impacted the capital markets without really being transparent about its implications. I see and read these indicators but feel (and pay) others. I had a boss years ago that was old fashioned and always would tell me “the way to know how you are doing financially is to touch and hear the money in your pocket.” Despite being well off, I don’t feel it at all which makes me think that there is more to consider for which we do not know. Just more reasons to remain cautious as the ups and down of the markets continue around us.

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It also continues to bring me back to adding to assets that store value over time like precious metals and cryptocurrencies (some). Taking more control of our assets is only the beginning as we need to ensure that the consumerism addiction does not eat into our savings as some may be needed if things take a turn for the worst. I may have started too late to be fully prepared but every little bit could help in case of extreme “black swan” events that could occur. However, just like driving a car, it doesn’t matter how careful you are as the recklessness of others could impact your safety no matter the precautions you take. Buckle up, it could be a bumpy ride!

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