One consequence of the current economic strain is a wobble in people’s confidence about the future. Rising prices for goods and services, along with other pressures, leave many looking for practical steps to stay on solid financial ground. In an interview with RIAMO, financial advisor and strategist Olga Nadeina shares actionable ideas to help households manage money more effectively during turbulent times.
She emphasizes the value of finding additional income streams to offset declines in purchasing power caused by inflation or unexpected crises. Expanding income sources can cushion the impact of price increases and create a broader financial safety net. Alongside earning more, she urges investing in education to sharpen business skills, making individuals more marketable and capable of commanding higher salaries or improving career mobility.
According to Nadeina, increasing one’s value as a professional yields two clear benefits. Higher qualifications and deeper expertise tend to raise earning potential in current roles, while in-demand specialists often have easier readiness to transition to new opportunities if a current position is shed. This dynamic can help individuals weather job market volatility with greater confidence.
Beyond income and education, she highlights the practical edge of shoppers staying alert to discounts and promotions. Smart saving through careful purchasing does not require sacrificing quality of life, and it can be a meaningful part of a resilient financial plan during tough times.
In a related note, Natalya Vashchelyuk, senior analyst at the Management Company Pervaya, discusses how interest rates could evolve in major economies. She notes the possibility of a rate increase from 16 percent to 18 percent, while stressing that central bankers will likely weigh a broader move of more than 200 basis points in light of prevailing conditions. The focus on rate trajectories reflects concerns about staying within a given monetary stance for longer than originally anticipated.
Vashchelyuk explains that the timing and scope of any rate adjustments are expected to be a hot topic at upcoming meetings, with the board of directors scrutinizing the rationale for maintaining tight monetary conditions for an extended period. The discussion is likely to shape expectations about borrowing costs, consumer credit, and investment planning in the near term.
For Canadians and Americans facing similar economic pressures, the overarching message remains consistent: building financial resilience involves diversifying income, upgrading skills, mindful spending, and staying informed about policy signals from financial authorities. A balanced approach that blends earned income growth, strategic education, prudent spending, and awareness of monetary policy can help households maintain stability even when markets feel unsettled. Financial cushions and long-term planning stay essential as waves of inflation and rate changes continue to affect daily life.