Make Ends Meet: Tips and tricks to take on inflation
LOUISVILLE, Ky. (WAVE) - Families in America are seeing prices rise faster and higher than we have seen in the last forty years.
Making ends meet may take a little more knowledge and know how, especially if you aren’t making more money.
As COVID concerns and cases drop, the pandemic still has a tight grip on our wallets as prices continue to rise on just about everything consumers want to buy. Navigating the sky-high prices and supply chain woes we face today can be a headache and a pain in the wallet.
Who knows when or if it will get better?
“Since you can’t change those price tags, it’s up to consumers to find savings wherever and however they can,” Kristin McGrath, editor of The Real Deal by RetailMeNot shared.
It’s been called a perfect storm of COVID-19, the war against Ukraine and the problems with the global supply chain.
“Unfortunately, most of them are things consumers don’t have any control over,” McGrath said. “Global conflict, uncertainty, labor shortage.”
RetailMeNot surveyed over a thousand U.S. consumers.
72 percent of Americans are more concerned than usual about inflation, and 54 percent stated it’s harder to sustain their household today compared to a year ago.
“Bad news is we don’t know when this will end,” McGrath stressed. “How high it will get. When it will reach there. It’s just a lot of things are up in the air you know.”
McGrath said spending less does not mean you have to shop less. When it comes to saving at the pump, there are a few things you can do.
“A lot of gas station chains have their own rewards programs,” proclaimed McGrath. “Most of them are free to sign up. The more you use them the better kickback you get.”
RetailMeNot stresses maximizing your driving efficiency by making sure your vehicle is up to date on any maintenance needs. Also make sure your tires are full and drive a little slower to improve fuel efficiency.
With today’s economic uncertainty and inflation, shoppers are finding savings however and whenever they can.
“Take stock of any credit cards you have in your wallet,” McGrath stressed. “A lot of those offer cash back. Coupons and promo codes can make a difference even if it’s a small discount. Those can really add up.”
Historic price increases call for shoppers to be savvy and cautious when it comes to their cash.
RetaiMeNot said always use a coupon or cash back offer. If you are buying anything full price, you are leaving money on the table.
Be sure to scour the internet for services and places that can save you money and install savings apps to locate the best deals on the items you’re looking to buy.
“Really, it’s on the consumer to be strategic about their savings,” McGrath said. “Always make sure you are looking for that coupon or promo code. There are a lot of apps and services that let you pick from a retailer and get cash back.”
Another little tip that helps you and our community: try shopping at smaller independent store, where they will be more open to negotiating prices. Customers can politely try asking for a lower price.
Click or tap this link for inflation information, tips and new research from RetailMeNot.
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