10 Overlooked Inflation Fighting Tips For Senior Citizens
If you feel like you are paying a lot more for virtually everything you buy these days, that’s inflation.
When prices rise and diminish the value of your hard-earned dollars. That is inflation. But it is not just for any one or two products. Inflation occurs when prices rise for virtually everything across the economy. This not only occurs for your food and gas but almost anything else you buy.
“Increased prices for goods and services can be especially hard on our seniors, many of whom live on a fixed income,” said Pride PHC Vice President, Andy Cruz.
We want you to know there are steps you can take right now to minimize the impact of inflation on your household budget.
You can often lower some of the most basic bills simply by requesting a lower rate. It may be possible to lower your monthly fee on a range of services including your cable bill and your cell phone bill. Consumers who ask about getting lower rates for goods and services occasionally find success. All you have to do is ask.
Budget your money
It may sound boring, but do you have a budget? Understanding where you are spending your money, even for the smallest of items can help you control what you spend and when you spend it. For instance, plan a budget for your next trip to H-E-B. Purchase only what you planned to buy and resist the urge to load up on items that look appealing. A money plan before you shop can help you save.
Save now: Eat now
Always eat a good meal before you buy food. It’s been proven over and over again. If you grocery shop on a full stomach, it’s less likely you will buy all the extra treats and food that you never planned to purchase when you left home.
What is wrong with store brands? NOTHING!
If you are accustomed to buying your favorite name brands, take a second look at the store brands. Compare the ingredients. They are often the same and can cost as much as 25 percent less. More and more retailers are becoming known for great-quality, “store labeled” products. It’s worth a look.
A bright idea to beat inflation
Switch your light bulbs to LED bulbs. They last longer and can use up to 90 percent less energy. The money savings can add up fast.
Although gas prices are sky-high, it is possible to get a break. First, check on the internet where the cheapest gas is in your area. Shopping clubs such as Costco and Sam’s Club often offer less expensive gas. If you join, you can often save money shopping in their stores as well as purchasing gas at their pumps.
Make it yourself
Did you know you can actually make your own window cleaner, bath oil, or even oven cleaner? Some of the key ingredients may be hiding in a cabinet right now. Why spend the money to buy it when you can make it. Some of the recipes are ingenious and fun to make. Check out some great recipes right here.
Cut off the power
Did you know there are electronic items that are turned off and still use electricity in your house? Save money now by unplugging things you may not use every day. Unplug things like that guest room TV, the toaster you use once a week, and even phone chargers when they are not charging anything. If you can unplug it, you’re not paying for it.
Get a deal
You do not have to drive all the way to the discount mall or outlet to get a deal. Check out your favorite store or outlet by logging on to your computer. Companies will often advertise their deals and sales and you can easily order via your computer and have items delivered to your front door. It’s easy and can save you a lot of money. Also, think about the gas money you will save by not having to drive to the store to investigate as well!
Get it cheap or even FREE
Depending on the day and location you can get a lot of great stuff for free. From park admissions, and meals at your favorite restaurant, to a free day at a museum, it is worth checking into. Doing a little research on your computer now can mean a great time while spending very little money. Did you know that some hair salons will offer half-price cuts on certain days at off times? A super way to look great and save money doing it!
“The economy does not appear as if it is going to improve any time soon,” said Cruz. “That’s why it’s critically important for senior citizens to be financially responsible. We sure hope these tips help!”