Beat Inflation and Put Money Back in Your Pocket
September 9, 2022
Inflation is hitting everyone hard right now. From the gas pump to the grocery store, it seems impossible to escape – but don’t worry, there’s plenty of hope left. Beating inflation just takes the right mindset and strategies.
Here are some ways to put money back in your pocket and conquer inflation.
Ride With Friends
Carpooling with neighbors or coworkers is one quick way to save money. A high gas bill will look a lot better for everyone when it’s split two or three ways. This means a $60 tank of gas you’d each usually pay alone is now only $20 or $30 per rider.
Keep Saving
Now’s not the time to stop working toward your long-term money goals. While inflation is hard right now, it’ll eventually pass. You want to be in the best possible position when it does.
- To do that, keep saving for that car or house down payment. Leave retirement contributions in the budget too. Cut out trips to movies or restaurants if it means leaving savings alone. If you do have to lower savings a tad to deal with high prices, that’s ok. The important thing is to keep saving something – anything - so short-term troubles don’t eat your future dreams.
Switch Grocery Stores
Are you looking at an eye-popping grocery bill each month? If so, don’t keep going back to the same place. Start shopping at lower-price stores, and even try buying non-name brand items. You may not recognize the names, but most taste like popular brands and cost a lot less.
Increase Your Credit Score
Your credit score is important to your monthly budget. After all, a good credit score could get you lower interest rates on a loan. You’ll want those lower rates in case your car breaks down or you have an emergency you can’t cover alone. Try paying all bills on time and keeping “available credit” at 70% or higher to start raising your score.
We hope these tips help our members reduce stress and save money. If you’re already in a situation where you need a loan, we have lower rates than most lenders out there. Apply for an Allied loan and start beating inflation now.