YOUR MONEY


These under-the-radar tips and tricks can ease the pain of rising prices without giving up things you love. ::


BY JILL SCHILDHOUSE I 1


nflation is at a 40-year high. The average American household is forking over an extra $460 per month


for groceries, gas, electricity, and other necessities — despite incomes remaining the same. To help ease the fi nancial


squeeze, we reached out to some of our favorite experts for their advice on saving more and slashing monthly costs without a ton of sacrifi ce.


BUY A SERIES I SAVINGS BOND


Infl ation-indexed Series I savings bonds are U.S. savings bonds designed to protect the value of your cash against infl ation. The current rate is 9.62% (set through October 2022), which resets every six months based on the infl ation rate.


Importantly, you’re required to hold these bonds for at least one


78 NEWSMAX MAXLIFE | NOVEMBER 2022


year, but then you can cash out at any time before the maturity date — or you can choose to hold them for up to 30 years. “This can be a great asset to


invest in to help weather the storms caused by infl ation,” says Sabine Franco, owner of The Ambitious Legacy Firm, who has over a decade of experience preparing trusts and estates to


ensure individuals and families are protecting their assets. Go to TreasuryDirect.gov for information.


2


TIPS Treasury infl ation-protected


securities are another type of government bond that is designed to help beat infl ation. However, with TIPS, unlike Series I bonds, the principal is adjusted for infl ation, not the interest payment. You can buy TIPS in increments of $100, with maturities of fi ve to


Hunt for $29 Billion Lost Treasure D


o you recall receiving U.S.


savings bonds as a gift when you were a kid? Back in the day, it was a common present to give children for birthdays and baptisms. According to the U.S.


Treasury Department, there are $29 billion in unredeemed savings


bonds — and it has a record of them. So, if you think you or your children may have had savings bonds that were lost or destroyed, you’re not out the money. There’s a way to recover lost bonds. The more


information you have the better, such as


whose name the bond was in, bondholder’s Social Security number, bond value, and name of purchaser. Having the bond’s serial number or issue date is also helpful. Go to treasuryhunt.


gov and plug in the bondholder’s name and Social Security number.


IQONCEPT/SHUTTERSTOCK / MAKHBUBAKHON ISMATOVA


8 WAYS TO


NOW!


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