Inflation blues? Tips for saving on groceries, gas and travel – CNET | Eurica Project

What’s happening

Prices rose an average of 9.1% over the last month, with US inflation remaining at a 40-year high.

Why it matters

Rising prices mean your money doesn’t stretch as far as it used to, costing you more for essentials and straining the household budget.

What’s next

The Federal Reserve has hiked interest rates to curb inflation and slow the economy, but that could increase the risk of a recession.

Inflation hit a new high of 9.1% in June – the highest combined 12-month increase since November 1981. gas and home prices: the grocery index is up 10.4% and the energy index is up a whopping 41.6% year-to-date, while rents are up 0.8% in the last month alone.

Throughout 2022, our wallets have been under constant pressure, making it harder to pay for everyday expenses and keep a roof over your head. Even before this latest peak, US families were paying an average of $460 more per month for essentials and services, according to a June report by economists at Moody Analytics. Conversations from A recession add to the pending concern.

With inflation unlikely to ease anytime soon, we can only focus on what we can control. Here are a few ways to do it unlock savings in daily expenses, including food, gas, utilities and travel. These spending strategies could help you manage the inflationary burden on your household a little better.

Food saving tips

  • Consume carefully. As we have reported 40% of food waste comes from our kitchens. But shopping more carefully, munching on leftovers and stocking up on kitchen cupboards before heading to the grocery store are savings strategies that support sustainability while keeping more money in your bank account.
  • Go frozen. I used to equate buying fresh fish and produce with the best possible quality. But in recent years, especially now that our family has doubled in size, I love frozen options like veggies, berries for smoothies, and fish fillets. Thanks to advances in fast freezing technology, the quality is just as good after defrosting – and you can easily save 30% to 50% on the price. To this end, we have invested in a separate freezer where we store bread, cheese and other perishable foods to extend their shelf life by an additional three to six months.
  • Diversify where you shop. Don’t just chase sales at the supermarket. Look for deals at drugstores, dollar stores, and even major retailers (who are expanding their fresh food and pantry offerings), sometimes at a lower price than grocery stores.
  • Shop private labels. Whether you’re at Costco or Whole Foods or your local supermarket, look out for the store’s own brand. You can usually find these products in the pantry and fresh food aisles. The quality of the private label goods is (in my opinion) just as solid as the variety of brands and they sell for as much as 25% to 50% less.
  • Buy discounted dining out gift cards. Gift card resale sites like Raise and CardCash allow you to buy discounted cards from a variety of brands. You can often find solid savings on cards tied to chain restaurants, as opposed to grocery stores, which tend to sell out quicker. For example, I found a gift card on CardCash Subway for 10% discount.

Gas saving tips

  • Sign up for fuel saving programs. You can typically save 5 to 10 cents on a gallon of gas by subscribing fuel saving programs at your favorite pump. They are usually free and can be accessed via mobile phone. For example, BP has an app-based gasoline rewards program that saves members 5 cents a gallon.
  • search for that cheapest petrol. There’s an app for that! For example, Gasbuddy uses your location to find the cheapest gas in your area. Another option is to use a gas credit cardwhich you can use to earn rewards or get up to 5% back on purchases at gas stations.
  • Bring cash to the pump. Some gas stations offer a small discount for customers who pay with cash as opposed to credit.
  • Renegotiate car insurance. On a related note, if you drive less than you did before the pandemic and haven’t yet had to call your auto insurer to request an adjustment to yours insurance premium, You should. Driving less means you are at less risk of accidents and flat tires. While this isn’t a way to save on gas, you might be able to make some money money back from car insurance to increase your gas budget.

Travel tips to save

  • Be flexible. If prices are too high right now, it might be best to wait. If you can fly off-season or on off-peak days or times, you might find a better fare. Don’t just try things out flexibly in terms of time, but also try out alternative destinations. While some popular destinations have been swamped by tourists after two years of pandemic-related travel restrictions, you might be able to find better deals in unexpected destinations.
  • plan ahead. Booking activities in advance can give you peace of mind when budgeting for your trip and give you more opportunities to find discounts and deals. Plus, researching the cheapest hotels and accommodation months in advance gives you more opportunities to cut costs. For example, staying close to major tourist destinations could mean avoiding the price of a rental car.
  • Bet on unused card points or miles. We only used our card points that we had collect as rewards during the pandemic to buy return flights to fly west to see our family. The trip was essentially free thanks to map points that have been gathering dust over the last two years of the pandemic.
  • Consider a local trip. When you’re not flying, explore your own community with a stay. If you’ve moved to a new place during the pandemic and haven’t ventured out much, this could be a great time to explore the surrounding attractions. When planning, keep in mind your various affiliations to get discounts Car Rentals and museums. Students, AAA members, and AARP card members can often get discounts. In New York, residents can apply for the IDNYC card, which unlocks so many perks, including free entry to museums. Look for similar programs in your city.

Continue reading: This is how you save on your summer trip

Saving tips for utilities

  • Ask about discounts. From your cable provider to your streaming service to your utility company, negotiating with your providers and billers is always a smart practice. Talk to customer loyalty and let them know you want to save money and see what they offer you.
  • Avoid using a streaming service. With everyone from Netflix to Hulu announcing increases in monthly subscription costs, you might want to consider dropping a streaming service. Maybe it’s the one you use the least, or you just joined because a single show ended its season. You can renew next year when it’s back. If you can’t keep track of your subscriptions, There are apps like Truebill which scans your bank account to identify all your subscriptions – and even helps you cancel them for a fee.

Continue reading: This will save you on your gas, electricity and water bills

The editorial content on this site is based solely on the objective, independent assessments of our authors and is not influenced by advertising or partnerships. It was not provided or commissioned by any third party. However, we may receive compensation if you click on links to products or services offered by our partners.

Leave a Comment