Inflation Doesn't Have to Be a Dirty Word; Best Tips on How to Survive It

• Author: Jean Bergnaum II
• Posted: 2024-05-25

Inflation has affected every individual here in the United States. You are certainly not alone, but how do you go about your daily routine and afford the high costs of products and services everywhere? How are other folks surviving inflation?

Check out the amazing tips below. These recommendations are sensible and can be followed by people of all ages and incomes. You can do it. Start small and succeed!
 

Get Rid of Unnecessary Expenses

Every individual wastes money, and it's time to really tighten your belt. Maybe for you, it's dining out for lunch five days per week. Cut back, and limit your lunches to twice weekly, or pack a lunch to school or work.

Maybe you hire someone to mow your lawn every week. Why not find time to cut the grass yourself?

If you eliminate even the tiniest expenses, they can add up over time and help you save some money.
 

Tweak Your Home's Energy Costs

You can also save by the way you use energy in your residence. Reduce costs by implementing small changes. For example, wash your clothing in cold water, take shorter showers, and use only LED lightbulbs. Also, turn your lights off in the evening. In other words, don't be wasteful with lights on in every room of your home. Buy appliances that have energy-saving features such as refrigerators and window box air conditioning units. Lower your thermostat in winter and turn it up a few degrees during the summer.

You'd be surprised how you can find savings just about everywhere you turn. Stop leaky faucets, and fix drafty windows and doors to save on energy costs.
 

Stop Wasteful Car Trips; Consolidate

Each person has a daily routine, but when it comes to saving gasoline, make a better schedule. In other words, refrain from making one trip to one place. Instead, consolidate your routine. Hit the grocery store, the U.S. Post office and the dry cleaner all on the same trip, for example.

Gas prices have been on the rise again this summer amid extreme weather in some areas down South and due to production cuts. Also, Saudi Arabia and Russia have markedly cut their production, raising oil prices worldwide.

Also, try reducing your speed by about five to 10 miles per hour while driving to save gas.
 

Pay Off Those Credit Cards, ASAP!

it's tough out there as many Americans are drowning in debt. Inflation has been challenging individuals everywhere, and pay raises have not kept up with skyrocketing interest rates. Financial experts would advise you to watch how you spend money, especially when using credit cards. This is what gets a lot of people of all ages in trouble.

As inflation jumped to almost 40-year-high levels, many consumers turned to credit cards to help manage their budgets. However, this has led to record-high balances, so what can you do?

Begin now by paying the debt down even if it's only the minimum payments on your balances each month. The more you pay each month, the quicker you can erase your debt.
 

Consider Starting up a Side Hustle

There is nothing wrong with adding a little extra money to your income. Do you have a hobby or skill that could earn you a few more dollars? Do you have any items you could sell on eBay?

A side hustle is a great way to keep you out of the red. Also, hit your boss up for a raise. What's the worst the boss could say? No, okay, it's not a big deal. Nothing ventured, nothing gained.
 

Still Living Paycheck to Paycheck?

If you answered the above question with a yes, you have lots of company. According to the latest survey, 61% of Americans are living paycheck to paycheck. Folks are feeling the financial strain despite inflation starting to cool.

If you're a low-income worker, inflation has been the toughest on you, especially regarding food and other staples. It's not over yet. The Federal Reserve raised interest rates again in late July to try and bring down inflation. Fed Chairman Jerome Powell said that it's possible he would raise funds again at the September meeting if the data warranted.

If you feel like you're being squeezed, hang in there, Americans. Try the small, sensible tips outlined above to save some money. You'll get through this.