How to protect your spending power from inflation

By HAL M. BUNDRICK of NerdWallet

The rise in consumer prices, or inflation, is a slow erosion of your money over time. And supply chain issues are a part of the inflation equation too. How can you protect yourself? Small financial moves can make a difference in helping to preserve your spending power. Things like trimming discretionary spending by just a small amount, couponing or buying generic products and prescriptions. You can also reduce subscriptions, use membership cards to save a nickel or so per gallon of gas and renegotiate cell phone and streaming bills. But perhaps the most powerful idea of all: Ask for a raise.