Right now, we all know that everything is pretty expensive everywhere. Inflation surged to 8.5% in March, hitting a 40 year high, the U.S Bureau of Labor Statistics reported recently.
For now, it looks like The Federal Reserve is going to keep raising interest rates. And for how long? Who knows…
This means that the price of food, gas or consumer products isn’t going to get cheaper anytime soon.
So what are we do to?
While gas prices remain high for the time being, every household needs to budget a little better. That means looking for ways to save to help offset these rising costs. When prices are high, you’ve gotta spend more wisely. Don’t eat out as much. Only buy things that you really need. Cut things that are more of a “want.”
In the end, you can take care of you and your family’s household budget better. And you don’t have to be extreme. We’ve come up with a list of some creative ways to help you save, while still being able to live a comfortable life.
Or you’ve gotta go out and get that 2nd job soon…
Know Exactly How Much You’re Really Spending
You’ve gotta stop lying to yourself. You’ve gotta get down & dirty into the nitty gritty and really look at how much you really spend. Look at all your bank statements and credit cards. Add everything up in an Excel sheet or Google docs. Be honest with yourself. You will not only feel a lot better knowing the truth. But this transparency is also the first step towards actually being able to Save.
Separate Your “Needs” from Your “Wants”
Do you really need that 42-inch flat screen television? When money is tight it should not be spent unless absolutely necessary.
Avoid Using Credit Cards To Pay Your Bills When You Can
This can only makes things worse. If you don’t have the actual money to pay off bills for things you already owe, you shouldn’t use credit. This only prolongs and can spread the problem out more. It’s like using a dirty mop to try and soak up soda your son just spilled on the floor. Give it 5 mins and your whole kitchen floor will be spread full of sticky grossness…
Cut Bills For Services, Subscriptions, Apps That You Don’t Use
Do you know how much you spend altogether every month for all your bills? How many subscriptions do you have? (e.g. Netflix, Amazon Prime, YoutubeTV, DoorDash, your gym membership, etc.)
Luckily, that’s why apps like Truebill were invented. You can lock all that down in one single app. Truebill is a budgeting and money management app that has a lot of integrated features. The end goal is to not only help users be better with their money, but to help them save every month.
You start by uploading a copy of your most recent bills to Truebill. You can also connect all your accounts online directly to Truebill. Then, Truebill starts analyzing and looking for ways to save money. They will recommend whether you should keep that monthly service/subscription or if you should cancel it. If it’s a service or subscription that you use often, Truebill can also look for cheaper rates for the same service or subscription. Sometimes there’s promos or free add-ons to take advantage of.
Lower or Cancel Your Car Insurance, Bc You’re Probably Already Paying Too Much
Auto insurance is one of the prices we pay to own a set of wheels, an essential (and in most states, legally mandated) cost. Yet car insurance can become expensive, especially as you add vehicles and drivers to your policy. You can keep costs down and enjoy the benefits of cheap yet reliable car insurance coverage using these simple tips and tricks.
You should always shop around. When you go to buy something, do you grab the first bottle you find or scan over the shelves to find a decent brand at a reasonable price? It’s always wise to weigh your options and shop around, whether it’s for something as minor as shampoo or significant as car insurance.
Every insurance company offers its own price structure and benefits, so make sure you get at least three price quotes before settling on your car insurer. You can also ask friends and relatives for recommendations, review your state insurance department’s consumer information, and consider the amount of coverage offered for each price you see.
ClickInsureSave and MyPolicyGuru are two of our favorite sites that our community recommends the most. You can compare rates from all of the nation’s top insurance companies all in one place with the lowest rates. If you select only the coverage you need and the apps pull the best rates for you. Takes less than 5 mins and can end up saving you thousands of dollars before the end of the year.
Sell Your Car For Extra Cash, If You Don’t Need It or It’s Cheaper To Take Uber & Ridesharing
Due to supply-chain issues right now, we all know that car prices are astronomical! Whether you want to buy or sell your car, it is a lot of money either way.
So if you’re not really using your vehicle, why not sell it? You can get a lot more money for your used vehicle today, because there’s a shortage of vehicles all around the nation. So people will pay more for your car today, than they would normally. Who knows what prices will be like in the future. That’s why if you’re not really using your car and/or can do without it, we’d recommend seriously thinking about selling it for extra cash.
*Pro Tip: Calculate and compare your estimated Costs in Excel or Google Docs – the Costs of taking Uber/Lyft everywhere vs. keeping and maintaining your car. This includes any monthly lease payments, car insurance, gas, etc. Be honest. And overestimate the costs of taking Uber/Lyft everywhere too. Take the cost per ride and multiple it times the number of times you would normally take it. And then add a few more rides on top of that. Then multiply that times 12 months to get an estimated annual Cost. Now see if it’s cheaper to keep your own car OR sell it and take Uber instead. It’s that easy…
Stop Eating Out & Ordering Uber Eats, Postmates, Grubhub & DoorDash So Much
Those delivery fees and tips to drivers add up FAST. They’re sneaky about it too.
Also, calculate and tip your drivers based on the actual subtotal of your food order, NOT the subtotal after the subtotal with all of the delivery platform’s app’s fees included on top of it. You can easily end up saving yourself an extra 15-25% depending on the app, if you pay attention to what your actual order value is and adjust the tip accordingly.