Talk about perfect storms, a number of key events happening in the world are affecting our everyday lives. You probably have seen prices on pretty much everything is going up and up and up. Look at gas prices, groceries, commodities, services, and so on. Everything costs more but you’re not making more. That’s inflation. Your buying power isn’t going up, it’s going down. Do we just sit back and wait for inflation to come down? Is there anything you can do to get through this? Inflation isn’t going away so surviving through inflation is a must.
As an example, let’s use gas prices to illustrate. At one point in the past, gas used to cost $3 per gallon. Today, the national average of gas went over $5 per gallon. If you pumped 10 gallons of gas at $3 per gallon, it cost you $30. At $5 per gallon, 10 gallons of gas will cost you $50. A $20 increase! $3 per gallon wasn’t that long ago and the rise of inflation shot up that quick in that short amount of time. Gas prices are going up because supply is down from the war in Ukraine. Since gas prices are up, that means getting goods transported to you is going to cost more. That will raise prices on the daily necessities such as food and clothing.
We have two options: either make more or spend less. Your money doesn’t go as far as it used to. It costs you more money to live the same lifestyle. If your lifestyle is impacted by the rising inflation and it’s affecting you, you need to adjust your lifestyle by spending less. Here are a few ways you can do that.
Spend Less On Gas
Try carpooling with a co-worker. Take turns going into work. One week you drive. The next week they drive. Continue alternating and that reduces your gas consumption by 50%.
Try biking instead of driving. If you live close to a shopping area, don’t drive…bike. If it’s walking distance, walk.
If your employer offers remote telework, take full advantage of the opportunity.
Spend Less On Food
Eat less. That could mean spending less on groceries or not going out to eat as often. Next time your thinking about buying a bag of chips or snack, ask yourself is this something I really need?
Spend Less On Alcohol
Alcohol prices are going up. Prices on beer, wine, seltzers, and others are up. Instead of having 2 or 3 servings, have 1 or 2. Or don’t have any at all.
Spend Less On Subscriptions
Do you need to have Netflix, Disney+, Apple TV+, Amazon Prime, Hulu, HBO, etc.?
Warehouse stores such as Costco, Sam’s, and BJ’s have great deals. Buying in bulk can be financially beneficial. For example, toilet paper, tissues, or paper towels are lower per unit bulk than non-bulk.
Now is the time to look at your spending habits. Where is your money going? What can you cut back? What other savings hacks do you have? If you’re struggling, changing your lifestyle is a must to survive this inflation. If you are interested in following my journey, email subscribe to get alerts of latest posts or follow me on Facebook, Instagram, and Pinterest.
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