Hedges Against Inflation
Friday July 25th 2008, 9:54 am
Filed under: notes

orange-crate-with-shamrock.jpg

Lifestyle Choices as a Hedge Against Inflation presents some interesting ideas for keeping your costs down (I saw fit to make comments in parentheses):

  • Start a garden (It’s harder than it sounds. We do have a garden, and some fruit trees, but that’s substantially different than being able to feed yourself daily. I suppose we do in the summer though).
  • Cook from basic ingredients (Yes, cooking is good.)
  • Drink your tap water (Yes, tap water is good, but I know there’s a 50% chance someone will write in and tell me how bad chlorine is or how they live somewhere the water is terrible and they just can’t drink it. I know).
  • Drill your own well (For the love of God, please don’t. Just don’t. I’m saying this as someone who used to be on the local water board in a community split between private wells and community wells. It’s an expensive way to get out of paying your water bill, there are regulations on private well drilling, it doesn’t guarantee water (particularly clean phosphate-free, sulfate-free, arsenic-free water), and public-policy wise, it really not a good idea to have every house with its own well in terms of maintaining the long-term water supply of any community. Just don’t do this, particularly to cope with inflation. Yes, some homes already have a well. That’s fine. Carry on. But don’t drill a new well to lower your water bill.)
  • Reduce your home energy use.
  • Walk and bike more. (Presuming it’s safe)

More here.



4 Comments so far

How about ditching Starbucks? We call it Fourbucks because it’s hard to spend less there (I actually went only twice, for tea).
Yesterday I received an e-newsletter with tax advice for self employed folks, a woman asked whether she could write off the $1200 he hubby, and independent contractor, had spent during one year at Dunkin Donut. The answer is, no.

Comment by Martin Voelker 07.25.08 @ 9:06 pm

That’s a good point. I tend to forget that people eat out because I only eat out for business meals. :) That guy needs to have breakfast meetings at Dunkin Donuts.

Comment by Ms. Theologian 07.26.08 @ 7:58 am

Actually, the tax adviser added something about meals being only covered if the trip is over night.

Comment by Martin Voelker 07.26.08 @ 4:42 pm

I’ve always understood that there were two categories:

1. business travel meals, which have to involve overnight stays or substantial rest, and can be eaten alone or with others (but are only deductible at 50%, even if you eat alone); and
2. business meals, which have to involve substantial amounts of business (and are only deductible at 50%)

I could be wrong, but that’s how it’s broken down by my tax preparer. This article explains it a bit better:

What is necessary for meals and entertainment expenses to be deductible?

To be deductible, you must discuss business with your dining partner before, during or after the activity or the activity must be directly related to the conduct of business. Traveling away from home overnight for business automatically qualifies meals as directly related to your trade or business if you dine alone or with a business associate. Additionally, the meal or entertainment expense deduction is generally limited to 50% of the cost. Dues to social, athletic and country clubs are not deductible.

Comment by Ms. Theologian 07.26.08 @ 5:05 pm



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