Prices are going up, up, up! What can you do to avoid going into debt or dipping into savings to cover living expenses? Here are some money-saving strategies to help you weather the inflation storm.
Shop Smarter at the Grocery Store
The price of groceries seems like its increasing from week-to-week. You have to feed your family so it’s important to find ways to budget wisely when shopping when prices are rising.
- Buy generic store brands
- Shop local grocery bargain stores first – they may not have everything you need, but often items at at a discount
- Avoid stores or sections of stores that tempt you with non-grocery items like clothing & electronics
- Make a list to avoid impulse buying
- Buying in bulk doesn’t always mean saving – check your calculator to see if the purchase really is a lower price per unit
- Incorporate some meatless meals into your meal planning
- Take advantage of store rewards and programs such as gas points
- Use online coupons
- Bring your own bag
- Shop local farmers markets
Eliminate unnecessary subscriptions
- If you don’t use your gym membership – cancel it
- Amazon Prime, Spotify, Blue Apron, Stitch Fix are nice to have but the costs add up
- Magazines & Newspapers
Spend Less on Gas
- Buy gas near the beginning or middle of the week to save money. Gas prices tend to go up at the end of the week or the weekend
- Sign up for fuel rewards
- Use apps like Gas Buddy
- Drive less
These strategies will get you off to a good start along with being mindful of stopping at Starbucks or your favorite donut shop when you can brew your own cup of java. Once you start using these techniques, you may find it becomes second nature to save cash. Your bank account will thank you.