No one can predict how significant the impact of a stagflation will be, or how it might affect certain markets. However, there are some sensible steps you can take to help minimize the impact a stagflation will have on you personally. In addition to delaying large purchases, it can be a good idea to continue saving as much as possible.You may also want to diversify your investment portfolio if you have one. This can help minimize losses in the event that a certain market or asset suffers a more significant decline than others. If your investments are spread out, you reduce the likelihood of incurring substantial losses all at once.