Higher prices, harder choices

Bigger dollar amounts can fool you

Inflation makes the signals harder to read

Five practical things you can do

The deeper lesson

Inflation doesn't just raise prices — it tricks you into staring at bigger dollar numbers instead of asking what those dollars can actually buy. A two percent pay raise sounds great until inflation is running at three percent. Your savings account pays more interest until you realize it's still losing purchasing power. This is “money illusion,” and it costs you real money.

In this episode, Justin Wolfers explains why inflation is like driving through fog: The signals are still there, but they're much harder to read. He walks through the mental shift you need to make — from thinking in dollar signs to thinking in purchasing power — then reveals five practical strategies you can use right now to protect yourself and your wallet. But there is also a deeper lesson revealed: Good economics is about asking what the number you’re seeing really means. Once you start asking it, you're ready to protect yourself during inflationary times.

 

Subscribe on YouTube https://youtube.com/platypuseconomics 
Subscribe on Substack 👉 https://newsletter.platypuseconomics.com

 

Follow on Social Media @PlatypusEconomics and @JustinWolfers

 

See omnystudio.com/listener for privacy information.

Inflation doesn't just raise prices &mdash; it tricks you into staring at bigger dollar numbers instead of asking what those dollars can actually buy. A two percent pay raise sounds great until inflation is running at three percent. Your savings account pays more interest until you realize it's still losing purchasing power. This is &ldquo;money illusion,&rdquo; and it costs you real money.
In this episode, Justin Wolfers explains why inflation is like driving through fog: The signals are still there, but they're much harder to read. He walks through the mental shift you need to make &mdash; from thinking in dollar signs to thinking in purchasing power &mdash; then reveals five practical strategies you can use right now to protect yourself and your wallet. But there is also a deeper lesson revealed: Good economics is about asking what the number you&rsquo;re seeing really means. Once you start asking it, you're ready to protect yourself during inflationary times.
&nbsp;
Subscribe on YouTube https://youtube.com/platypuseconomics Subscribe on Substack 👉 https://newsletter.platypuseconomics.com
&nbsp;
Follow on Social Media @PlatypusEconomics and @JustinWolfers
&nbsp;
See omnystudio.com/listener for privacy information.

From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.

From world events to everyday decisions, economics explains it all. Platypus Economics makes it clear, useful, and actually fun.

Platypus Economics with Justin Wolfers

Navigating Inflation: Smart Strategies for Better Choices | Diving In

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0d74a55b-e161-49a0-8035-b47901445fd3/transcript