If you’re looking for essential items to cost less anytime soon, you may be waiting a while. Inflation is at its highest level in 40 years. Consumers are feeling the pinch and experts say things may only get worse during the summer. But there are ways to cut costs during this time.
You must eat, you must drive, you must live somewhere. But the cost of doing all of this is getting higher and higher.
The average household will spend an average $327 more per month to cover the rising costs. Using a budgeting app like mint is a great way to see exactly how your impulse buys shape your monthly budget.
If you’re looking to save at the grocery store, think about paying with a grocery rewards card and get cash back and download rebate apps such as Ibotta and Rakuten that also give you cash back. Sign up for the loyalty program and get sales without having to clip coupons, take advantage of BO-GOs and on average you’ll save 10% to 30% by buying generic.
If skyrocketing gas prices, have you doing a double-take … compare real-time gas station prices on apps such as Waze and GasBuddy. Both are free and rely on users to keep station-specific gas price information up-to-date and accurate. GasBuddy says Monday tends to be the cheapest day of the week to refuel, with Sunday coming in second.
There are some simple ways to save money at home too. The average person spends more than $1,400 a year on bottled water.
And according to the department of energy, 78 degrees Fahrenheit is the sweet spot for air conditioners to balance energy savings and comfort. You can save up to twenty bucks a month just by putting it here and keeping it here.
Also, unsubscribe from unused apps. The average person spends $273 a month on apps. If you haven’t used a certain streaming service or that fitness app in a month or more, cancel it. You can always restart it in a few minutes if you change your mind.