We Are All Affected! - How To Battle Infaltion The Best

With inflation getting higher and the consumer prices rising I was thinking about what to do in order to keep the own costs low. I was thinking about stuff that I picked up from other people as well as stuff that I already do regardless the inflation. If you have more tips or advice, feel free to share it in the comments down below! This way we can create a good list for everyone and our community can save some money along the way! 😊

Groceries

One of the most important, if not the most important sector are groceries. I don’t know about you guys but I was surprised when I looked at my monthly budget. Usually, I was able to get along with 200 USD a month but since a few weeks I am constantly over 300 USD. This is why I started following the coming tips to reduce my spendings again.

I am now always go with a piece of paper into the supermarket. This piece of paper says what I want and need to buy. This way I am avoiding impulse buys and make sure that I only buy the stuff that I really need. In most cases the additional stuff that I bough was not consumed anyways which was not efficient at all.

If you go to local markets, make sure that you try to go at the end of the day when the people are closing up. This way you can get a chance for reduced prices because the farmers or sellers will try to get rid of the remaining food for this day. These markets are also correlated with seasonal products. It is always smart to buy seasonal products only during the season that they are produced in as this will make them far more cheaper.

Next advice is something that I already do on a day to day basis. I stopped drinking soda and all the sugary beverages a long time ago! It is not only better for your health but it is also saving you a ton of money along the way! If you want to take it to the next level, use tap water, but as we all know it is not always recommended to trust the tap.

If you go grocery shopping, only use one bag that you would usually use, this way you can avoid impulsive buys that would not fit in your grocery bag. And last but not least, try to meal prep for the week or at least the next few days. As we all know, eating out or ordering food can be very expensive which is why home cooked meals are definitely worth it!

Mobility

Next up we have to talk about mobility. Many of us need to go to work or meet friends. Mobility is something that everyone is using and most of us are using the own car. Well, with the increasing gas prices it is often not very attractive to use a car anymore. If we can use a bicycle or public transport, I would recommend doing that. If the store that we need to go to is not that far away, maybe walking is even an option. I know that there are a few ways to avoid cars but even if we can not avoid cars we should take one trip to all stores at once or stop there after work instead of doing several trips during the day. Furthermore, if you can work from home, work from home! There are so many advantages to that, it is unbelievable.

Energy

Energy prices is something that we are all concerned about. Right now it is not that severe because the winter has not struck yet but if we look a little bit further down the line we will realize that the winter this time around will hit us hard. This is why I think living with roommates is one of the best ways to split the energy bill.

Furthermore, we can wear a second and third layer of clothes instead of wasting too much gas on heating. In fact, some people already are saying that wearing a T-Shirt at home in winter is rather luxury than given. Not only that but if you are at the gym, try to use their showers. This way you can probably get a free hot shower and work on your health at the same time. I think this is a win-win situation!

Structure Your Money

The next section is something that all of us should do in order to get financially free and educated. The structure of money is a very important step towards being financially smart. One of the most important parts is to know where your money is going. If you know where your biggest expenses are it is easier to cut down costs more efficiently and you can save some money along the way.

Furthermore, Budgeting is very important. It is not only helping you to get more control over your spendings but also helps you to put some money aside for investments and other purchases that are need in the future. Another very cool tip that I heard of was to save up your change if you are paying with cash. This way you can get something like a snowball effect and use the small change money to purchase something that you need after a few months without taking it out from your budget.

Shopping

Shopping is a category that we all do. Our society is based very heavily on consumption and is driven by purchases. In order not to lose too much money in the every day cycle, it is important to take your time with your purchases. Don’t fall into the trap of impulsive buying. Take your time to get money together and most of the time you will realize that you don’t even need this product in the first place.

But if you decide that this purchase is necessary, never use credit to buy it. It is too easy to fall into the trap of debt and if the debt is not smart and you are buying liabilities with it, it will only destroy your financial ecosystem. Furthermore, it is always smarter to repair broken things rather than buy a complete new product. This goes for phones as well as with cars, especially in the current situation.

Travel

Last but not least we have a category that is rather something more luxury but still sometimes necessary. If you know that you are going on a travel, book the flights or the tickets very early. This time you will avoid the high season pricing! Sometimes it is also smart to book outside of the typical vacation times in order to hit the airlines when demand is low.

If you are traveling somewhere you know, consider camping or sharing a hotel room with friends. This way it will get cheaper for everybody. And if you are traveling into a foreign country, always pay attention to the Roaming of your Phone. It can be a real financial trap if you do not pay attention to this detail. Download all your favorite songs, Netflix shows and the local map in Google Maps before hand so you do not have to use Internet in the foreign country.

Published by ga38jem on
Steemit
On 18th August 2022