HOW TO FIGHT INFLATION THROUGH YEAR ’ S END
By George Kamel
Inflation . It ’ s a constant news headline , the joke of every meme , and the word we curse under our breath every time we have to put the fancy bacon back on the shelf and grab the generic turkey bacon instead . Whether we want to admit it or not , inflation is here , and it ’ s sticking around , folks . But first , what even is it ?
All you need to remember here is the basic law of supply and demand . Oversupply means prices go down . And undersupply means prices go up , aka inflation . But what I want to remind you is that even if you can ’ t control how much inflation rises from month to month , there ’ s still plenty of ways you can beat inflation without resorting to turkey bacon .
GET YOUR PRIORITIES STRAIGHT Now , the first thing to do is make sure the most important things in your budget are covered . No , I ’ m not talking about your Amazon Prime membership . I ’ m talking about what I call your Four Walls : food , utilities , shelter and transportation . So , here ’ s my plan for how to beat inflation and keep your Four Walls strong !
HOW TO SAVE ON FOOD
1 . Shop at the cheapest grocery stores . If you really want to cut back on your bill , rethink where you shop . In the U . S ., some of the cheapest grocery stores are Aldi , WinCo Foods , Food 4 Less , Costco , Walmart and Trader Joe ’ s .
2 . Cut out the wants , and only buy the items you need . You need breakfast , lunch and dinner — you don ’ t need that fresh watermelon that costs $ 7 because someone else cut it for you . If your grocery bill is out of hand , take a serious look at your needs versus your nice-to-haves .
4 . Use cash-back apps and coupons . Use cash-back reward apps , like Ibotta or Fetch Rewards , to help you save . While rebates don ’ t give you a discount up front , the cash-back savings will add up . And don ’ t knock the power of the O . G . paper or digital coupon either . But remember , never spend just to save . Don ’ t buy name brand just because you get cash back . Do the math and buy the most affordable option that gets the job done . november / december 2022
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HOW TO SAVE ON UTILITIES
1 . Don ’ t run appliances unless they ’ re full . Your husband spilled coffee all over his pants — again . But instead of washing those soiled khakis alone , wait until you can run a full load . And when it comes to the dishwasher , the same thing applies ( but to be clear , don ’ t put pants in there ).
2 . Program your thermostat . You can save as much as 10 % a year if you drop your thermostat down 7 – 10 degrees for eight hours a day . So turn down the thermostat before you head out the door .
3 . Use less . This is a no-brainer , right ? One of the best things you can do to save on utilities is to simply use less . Even the little things like turning off the lights can do a lot to keep you from using more .
HOW TO SAVE ON HOUSING
1 . Be a smart renter . Getting a roommate ( even if they ’ re quirky ) can cut your rent in half — or more . And if you know you want to stay in the place you ’ re in right now , see if your landlord will drop your monthly rent if you sign a 16-month or 18-month lease .
2 . Make sure your house payment isn ’ t more than 25 % of