Clever Girl Finance is one of the largest personal finance platforms for women in the U.S founded By Bola Sokunbi. In addition, Bola and Clever Girl Finance have been featured by several media outlets including Time.com, Money Magazine, CNBC, Forbes, Fast Company, Essence, Black Enterprise, Cheddar TV, ABC News, Good Morning America, Fox Business, and The Chicago Tribune as well as on several other finance websites and podcasts.
Bola is the author of the Clever Girl Finance Book Series and Choosing To Prosper: Triumphing Over Adversity, Breaking Out of Comfort Zones, Achieving Your Life and Money Dreams!
She is also the recipient of the 2021 Financial Education Instructor of the Year (FEIY) Award from the National Council of Financial Educators.
The U.S. hasn’t experienced stagflation since the 1970s. Other than a close call in 2022, the economy hasn’t slowed to stagflation levels. Yet, this economic downturn may be on the horizon.
This uncertainty has left many people nervous about the future. While stockpiling food and selling stocks might feel like the right thing to do, you don’t have to resort to desperate measures.
That said, let’s talk about what stagflation is and how you can prepare.
A blend of the words "stagnation" and "inflation," the term was popularized by British politician Iain Macleod in the 1960s, during a time of economic turmoil in the United Kingdom.
While the U.S. isn’t currently experiencing stagflation, there are signs that we might be heading in that direction.
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One of the main reasons the economy is looking shaky is due to uncertainty around tariffs. Higher tariffs can increase the price of goods that rely on foreign materials. In turn, higher prices can reduce consumer spending.
Additionally, trouble is stirring in other areas, with unemployment at 4.2%.
There isn’t much positive news surrounding the economy right now. And with uncertainty, many people become reactive—by rushing to buy or sell, or by hoarding their money.
Although the fear of what’s to come is real, it shouldn’t dictate your financial decisions.
Let’s break down what you can do today to help prepare for an uncertain future.
How to prepare for Stagflation
As you read through these steps, try not to overwhelm yourself. Take things one step at a time. Remember, slow and steady progress is better than rushing in and making mistakes.
1. Understand your financial situation
Do you know how much you make every month? Do you have enough to cover your monthly expenses, or do you feel like you’re putting out fires all the time?
Most importantly, does your salary cover your basic needs? Take time to review your income, expenses, and spending.
Are you making enough to get by? Are there any money leaks in your budget? Are you relying too much on credit cards?
If you find that you’re financially secure, great job—give yourself a pat on the back. If things are difficult or you’ve made some mistakes, remember not to judge yourself. Identify your areas for improvement and make a plan to do better.
2. Avoid panic buying
A scarcity mindset often kicks in during emergencies or periods of uncertainty. It’s normal to start purchasing things like cars, clothes, or electronics out of fear that prices will rise.
But before you start swiping your card, consider whether you’re buying out of fear or preparation.
Buying things you’ll genuinely need in the future is one thing. Making purchases because you fear missing out can hurt you financially.
Instead, stick to your budget. If there’s something you need, see what adjustments you can make in your budget to afford it.
Here are some things to consider before you start purchasing new items.
Electronics ​Before buying new electronics, try clearing up memory first. When my computer runs slow, I panic and think about buying a new one. Then I delete unused files or move them to an external hard drive, and things usually improve.
Car parts ​With many car parts manufactured abroad, prices may rise. Regular maintenance and tune-ups can help reduce the likelihood of needing costly repairs.
3. Focus on living below your means
​Living below your means isn't just about having less. It’s about increasing the gap between your income and expenses. You can either increase your income without increasing expenses or maintain your income and reduce expenses.
For example, if you earn $2,000 a month and your expenses are $1,900, cutting costs to $1,700 gives you $300 to save or pay off debt.
If you live in a two-income household, consider trying to live on one salary if possible and saving the other.
PLUS when you sign up for a free course, you can schedule a completely free call with one of our amazing Clever Girl Finance mentors. WE ARE IN YOUR CORNER!
Some images and links in this newsletter are affiliate or sponsored links from companies we trust, which means if you make a purchase or sign up, Clever Girl Finance may get something in return. This helps us grow!
Clever Girl Finance is one of the largest personal finance platforms for women in the U.S founded By Bola Sokunbi. In addition, Bola and Clever Girl Finance have been featured by several media outlets including Time.com, Money Magazine, CNBC, Forbes, Fast Company, Essence, Black Enterprise, Cheddar TV, ABC News, Good Morning America, Fox Business, and The Chicago Tribune as well as on several other finance websites and podcasts.
Bola is the author of the Clever Girl Finance Book Series and Choosing To Prosper: Triumphing Over Adversity, Breaking Out of Comfort Zones, Achieving Your Life and Money Dreams!
She is also the recipient of the 2021 Financial Education Instructor of the Year (FEIY) Award from the National Council of Financial Educators.
Join Clever Girl Finance! Check out our 30+ free courses, 40+ free worksheets, and our 1-on-1 coaching offerings! Did you get this email forwarded to you? Join thousands of women in the CGF community, follow us on Instagram, and watch on YouTube! We'd also love for you to check out our sister site, Clever Girl Author. Hello Reader, How are you feeling about money these days? Do you feel stressed or worried? Even though money can make us feel on top of the world, it can also cause us to wake...
Hello Reader, It's Bola here! The world may be unpredictable, but your financial future doesn’t have to be. At the PA Conference For Women, I’ll be sharing actionable strategies to help you stay resilient, grow your money, and retire on your terms — even in a rocky economy. Register today! Whether you’re starting fresh or rebuilding, this is your moment. Let’s take the power back 💪 Register now for the Pennsylvania Conference for Women! When: September, 25th 2025 Where: Philadephia, PA...
Join Clever Girl Finance! Check out our 30+ free courses, 40+ free worksheets, and our 1-on-1 coaching offerings! Did you get this email forwarded to you? Join thousands of women in the CGF community, follow us on Instagram, and watch on YouTube! Want to read about current money topics and get key strategies? Subscribe to us on Substack We'd also love for you to check out our sister site, Clever Girl Author. Hello Reader, Health, money and relationship goals are all important to have. But did...
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