Taming Inflation through Savvy Shopping (Article)
Taming Inflation through Savvy Shopping
Have you had that moment when you’re in the checkout at the grocery store, you look at the total, and think to yourself “What did I buy that costs so much?!” Inflation has made everyday tasks such as groceries or filling up the gas tank extra painful for all of us. If you are feeling increasingly pinched due to rising costs, consider taking an inventory of your current expenses to see if there are more cost-effective options.
Consider the following ways you can tame inflation by reconsidering some of your more common expenses:
- TV Subscriptions: Is there a streaming service that you pay for but rarely use? Consider cancelling low-use subscriptions to keep those dollars in your pocket.
- Gym Memberships: If you currently pay for a gym membership, how often do you actually use it? If you only use the gym to run, consider running outside during the summer months.
- Cell phones: When was the last time you checked out your current phone plan? The cell phone carrier market is highly competitive with companies trying to offer you a great deal. Shop around and see if another carrier could save you money.
- Meal plan: An easy way to avoid overspending at the grocery store is to create your list before you shop to avoid unnecessary purchases. Another tip: don’t grocery shop when you’re hungry!
- Shop used: Public websites such as Facebook Marketplace can be excellent areas to find deals on previously used items. People are also more likely to sell below list price.
- Borrow instead of buy: If you need an item for a home improvement or one-time project, consider borrowing the tool using a store rental program rather than buying the tool and having it sit in your garage.
- Brew Your Own Coffee: Making coffee at home rather than buying a cup every day can add up to significant savings over the course of a month.
- Sleep on it: If you’re planning to make a purchase online, leave the item in your cart overnight. Allow yourself time to consider if you really need it. If you don’t need it, don’t buy it!
Return to the Money Messages Homepage
You’re Just Getting Started
Explore more from MoneyAdvice@Work®
Haga Clic Aquí para Ver los Consejos de Dinero en Español.
MoneyAdvice@Work® is an employer-sponsored financial wellness benefit designed to connect employees to financial professionals who educate, advise, and coach without the sales pitch. Learn more about our service offering here. The summary/prices/quotes/statistics contained herein have been obtained from sources believed reliable but are not necessarily complete and cannot be guaranteed. Past performance results are not necessarily indicative of future results. MoneyAdvice@Work® is offered through Francis Investment Counsel, a Registered Investment Adviser with the SEC. Francis Investment Counsel does not provide tax or legal advice.