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High Inflation Means You Need Frugal Living To Survive!

Inflation was the nasty word of my youth. Now Yahoo News just reported that inflation has hit the highest rate in 17 years. This probably does not surprise most of you who are trying to buy gas and groceries.

Does anybody else remember the Whip Inflation Now (WIN) Buttons during Ford’s administration? It was an attempt to encourage good savings habits and curb spending. Did it work? Well most historians do not think it worked that well and that inflation remained a big threat to the economy. However, nobody can fault President Ford for trying.

Inflation means that the value of your dollars goes down, and so things appear to cost more. Your income probably does not keep up with inflation, and so you cannot buy as much. So what can you, as an individual do, to preserve your savings, or just to keep up with your bills? The Journal of Extension has some inflation fighting tips. This website is a cooperative effort from extension agents. Being a former small town 4Her, I am a big fan of county extension agents!

I think most of the tips that I find are common sense. Websites list things like eating at home and performing simple repairs yourself. These may be great tips, but I’ll bet you could already think of them without a website! However, the one thing that I think we all really need to do is to get a handle on our budgets. Please sit down with a spread sheet or simple sheet of paper and figure out what is coming out of your bank account every month!

Are you still paying for that gym membership you don’t use? Could you just take a daily walk or ride the $300 bicycle you already paid for? The same thoughts would apply to online memberships or magazine subscriptions that automatically renew, but that you really are not getting use out of. If you really don’t get around to reading that magazine every week, why not cancel it. Even if you pick it up at the grocery store once a month when you really want to read it, you will probably save money in the long run.

Could you buy Brand X at the grocery store instead of the name brand? My family does indulge in sodas, but Mr. K at Krogers is half the price of Dr. Pepper. Also I try to make myself a jug of iced tea which is cheaper yet.

Again, these tips sound simple, but a few cents here and there can add up to dollars, and dollars can add up to hundreds of dollars! WIN!

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