Inflation has already taken a big bite out of our wallets and bank accounts, and it doesn’t look to be letting up anytime soon. Guest post from Age Brilliantly. 

 
Surviving in this economic climate requires closely examining how you spend your money and analyzing how you might be able to reduce those expenses. Here are some suggestions: 
 

Saving Money on Food

 

Groceries are one of the expenses that have spiked the most during inflation, but, fortunately, there are several ways in which you can cut down on those costs without cutting down on good diet and nutrition. In fact, in some ways, these cost-savings could end up improving your nutrition. 

For example:  
 

  • Start cooking more meals at home.  
  • Pack your lunches for work and the kids’ lunches for school.  
  • Cut down on how much you eat out, and skip those fancy coffee drinks during the day, or at least cut back on them. 

 
When you shop for groceries, buy more ingredients than prepared foods. When you do purchase packaged foods, buy the generic ones rather than brand names. Buy in bulk, especially dry goods like toilet paper, at discount stores or warehouse club stores. 

Buying more non-perishable items at once also helps reduce the number of trips you need to make to the store to replace them when they run out. This ends up saving you some gas money too, not to mention the time it takes for each shopping trip and the wear and tear on your vehicle. 
 

Tips for Saving on Utilities

 
It may sound obvious, but one way to cut down on your utility bills is to use the utilities less. To lower your electric bill, for example, make a habit of turning the lights off in rooms you’re not using, and replace all your incandescent light bulbs with LED bulbs. 

Another way to save on utilities is to shop around. Don’t just stick with the utility service providers you have because it’s convenient or seems a hassle to change. Find the providers who give you the service you need at the lowest price. 
 

How to Save Money on Insurance

 

Read through all your insurance policies line by line to learn exactly what you’re paying for. There’s a good chance you’ll find areas where you’re paying for more coverage than you need. Try to pare down your insurance coverage to only that which you legitimately may need. Certainly don’t insure your home, vehicle or personal belongings for more than they’re worth. 

Once you know exactly what insurance coverage you do and don’t need, shop around to find the insurer who will give you that coverage for the lowest price. 
 

Ways to Save Money on Entertainment

 

If you have cable, then you’re probably paying way more to watch TV than you need to. You’ve purchased a package of programming likely containing a whole bunch of channels you’ll never even watch.  

With streaming, you get access to all available channels at one low price — or just the one you want. 

Cable subscriptions normally come with contract terms. You must keep service with the cable company for a set period, like two years, and, if you cancel before your term has expired, you could be charged a cancellation fee.  

With streaming services, there are no contracts; you pay for it for as long as you want, and, then, when you don’t want it anymore, you simply cancel at no extra charge. Many services even offer free trials on services like Hulu + Live TV. 

In addition to network programming, you can even stream live broadcasts like sports and local news without a cable box by using an Over-the-Air (OTA) antenna. You can pick up one of these relatively cheaply and install it easily yourself. Then, you’ll never miss an international match or a local weather update. 

Other benefits of streaming vs cable, besides the cost savings, include unlimited DVR that lets you watch what you want when you want, and the ability to stream on the go using the same account over a smartphone, tablet, computer or even another TV elsewhere with streaming app access. 
 

Summary

 
 
By reevaluating how you spend money on things like food, utilities, insurance and entertainment, you can make all the necessary adjustments you need to rein in those costs and endure this inflationary period so you can come out of the other side financially unsc
 
Visit Age Brilliantly >
 



Commentary » Latest



Leave a Reply