Another important thing to consider doing is to increase your income; after all when prices go up and you have to spend more money, you have to own more money to be able to do it. And the only way you can have more money is to earn more of it (increased income). Otherwise investment is there to protect your net worth not make you more money.

Additional income can mean different things for different people. It could be a second job for employees with a fixed paycheck or it could be expanding your business if you are self employed.
That secondary job doesn't need to be something fancy, it can be something simple as trading cryptos if you know how to do it (keep in mind that trading crypto is different from investing in it).