Times are stressful with rising prices, crazy stock markets, and general world instability. While you can’t control people starting a trade war, you can control how the fallout affects your bottom line.
Here are some ideas on how to lower your household inflation rate – even as prices rise.
Plan your Purchases and Research Prices
- Make a weekly shopping list and stick to it. This helps avoid impulse buys and ensures you only purchase what you need.
- Buy extra of items when they’re on sale, especially non-perishables. Cooking in bulk and freezing meals can also save money over time.
- Consider generic or store brands instead of name brands; they’re often just as good and much cheaper.
- Picka an Amazon Day once per week (or once per month) if you are trying to cut down on discretionary and not-urgent purchases.
Rethink Where and How You Shop
- Shop at thrift shops or online marketplaces for deals on everyday items and clothing. This has the added advantage of keeping things out of landfills!
- Use coupons and look for digital discounts before making purchases.
- Delay major purchases if possible, especially if prices are temporarily high. Waiting for sales or price drops can save you significant money.
- Compare prices across different retailers and consider buying domestic products to avoid tariff-related price hikes.
Cut Costs Without Cutting Joy
- Review your subscriptions and memberships. Cancel any you don’t use or need-auto-renewing services can quietly drain your wallet
- Eat at home more often. Plan a pot-luck party with friends instead of eating and drinking out. A few extra home-cooked meals each week can add up to big savings.
- YouTube is your friend for basic home repairs! Challenge yourself to a little DIY small repairs, home projects, or even growing a few herbs or vegetables at home2.
Higher prices are scary, but small, consistent changes in your shopping and spending habits can make a big difference.
Focus on purchases that reflect your values, cut out the fluff, and stay proactive. You will feel more in control and less at the whim of policies you feel helpless to change.
