It is no surprise that inflation has put stress on most bank accounts over the past year. While certain prices have gone down, such as gas, others like food, continue to climb.
As of the past few months, the current inflation rate is approaching 9%, and taxpayers are trying to reduce spending by opting for store-brand items and stacking coupons.
For those who want better ways to save money, consider the following tips in various areas of your spending.
Shopping strategically for your sustenance may not sound like a tip because everyone knows to do so. However, it’s becoming more difficult to do effectively.
Always go to stores with a list, planning out your meals ahead of time prior to your next trip. You should also be strategic in the way you plan your meals. For example, when selecting recipes, look for ones that overlap ingredients to review which stores have the lowest price for groceries on your shopping list.
You can also save as much as 70% by purchasing fresh foods that are rapidly approaching expiration. You need to consume them as soon as possible to not waste them.
Consider shopping at grocery stores with fuel reward programs, as they help you save money in tandem on gas.
No matter where you try to go for a better deal, gas prices are still incredibly high in most places, and there are few things that consumers who depend on cars can do to minimize the impact on the household budget.
Therefore, you should always plan your drives prior to running errands to determine the shortest path from one place to another.
Furthermore, consider discussing the idea of carpooling with neighbors, family members, or friends. Perhaps you alternate trips. This may only shave off some money, but it could be a fun way to go shopping.
Finally, avoid taking long trips to places that are unnecessary.
Most consumers ignore comparison shopping when it comes to utilities due to the fact that they usually only work with one. Of course, this is not always the case, but still.
Unfortunately, too many consumers that use the same provider for their broadband, electricity, and gas get too comfortable with paying a flat fee to receive everything together. If you live somewhere in which multiple providers exist for any of the aforementioned services, you should always consider their offers.
In addition, new customers often receive special perks and prices that older clients do not.
When it comes to household items and inflation, utilities are the greatest enemy. You can always save more energy by reducing the number of times you run the dishwasher, do laundry, or change the thermostat.
Always take a day out of every few months to analyze the premiums on your insurance providers. They can often be reduced by up to 15% by bundling various services together, paying upfront, and increasing deductibles.
You can, of course, do comparison shopping for cheaper plans as well. Keep on the lookout for opportunities to save by canceling services, subscriptions, and add-ons that are unnecessary.
Having a plan in place and outlining your next steps is crucial for smart financial planning and execution. Consider turning the above tips into tasks in your Vervo dashboard. If you haven’t signed up yet, feel free to get a free premium trial and experience how Vervo can serve as your life manager in your pocket.