After two years of high inflation, many Americans have learned to shop in places they wouldn’t normally go, seek out coupons and discounts, and avoid buying.
The hit to average budgets has been enormous, with Moody’s Analytics chief economist Mark Zandy tweeting that the typical household spent $202 more in July than a year ago to purchase the same goods and services. said he did. “And they spent $709 more[in July]than they did two years ago.”
According to the Dallas Fed, people, especially those making less than $100,000 a year, are trying multiple strategies to stretch their money, from deferring major shopping and medical care to cutting back on utility bills and making use of charities. It says.
The smart shoppers we spoke to shared some of the best strategies for dealing with the ever-increasing costs of everyday life.
- trading group: Rachel Sosson, 34, North Carolina, is a married mother of two and was part of several trading groups on Facebook before starting her own group – frugal mom – To make money for yourself. Trading groups like hers help people keep track of deals. Thousands of items are discounted every day, she said. Some items are free.
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“Saving as much money as possible in this economic climate not only eases the burden on our wallets, but also reduces the stress associated with high spending that we are all getting used to,” Sosson said. .
- not convenient anymore:Marvinette Hale, a 48-year-old mother with three children. coupon blogger The Pennsylvania resident says she no longer gets paper towels for convenience on Amazon.com, for example. Instead, she scours the aisles of Dollar General and Target looking for the lowest prices.
- Forget “Premium”: Americans waste more than $2.1 billion annually on premium gasoline in vehicles designed to run on conventional fuel. AAA saw no benefit in using premium gas instead of regular grade fuel. Most vehicles will only need regular gasoline, he said.
- chase petrolUse a gas app like : gas buddy.com Track your daily gas usage, estimate gas costs for your trips, find gas stations and get great deals.
- discover new activities: Brenda Annes, 50, wife of a San Antonio, Texas police officer and mother of three, cut back on optional purchases like Netflix, Hulu, Amazon Prime and other streaming services. Her family enjoys weekend picnics and barbecues, but she hasn’t taken a vacation here in three years.
- Stockpile: You may need a bunker to fight the inflation war. Anzu says when she sees big discounts on big name brands, she buys several and stores them in a long, neat shelf in the back room of her home.
“The struggle is still real,” Anzu said. “We’re not out of trouble yet. We’re nowhere near.”
Inflation concerns remain high:Inflation is easing and the risk of a recession is fading. Why are Americans still stressed?