Feeling The Pinch of Price Hikes?
It seems like the cost of everything is going up lately. I can’t tell you how many times I look at something and think about how much cheaper it was a few years ago. It seems like overnight, things have just gotten more and more costly, but is there anything we can do about it? Are you guys feeling the pinch of price hikes? Find out how I’ve been affected and how I combat the hikes below.
My Thoughts
Right now, I’m seeing things go up. I’m fortunate that it has not heavily impacted my finances or shopping habits. I still get my necessities, save, invest, and travel. Even as gas and groceries go up, I’m still finding myself in a comfortable position to maintain. Part of that is because I raise my expectations about how much things will cost. I’m usually pleasantly surprised when the bill comes out lower than expected. That feels like a win to me every time. I do know not everyone is in this position, and if money was already tight, this is making it worse, so what next?
What Can You Do?
There are several ways you can combat the pressure of these price hikes on your finances, but it’s going to require a little work from you. When it comes to saving on groceries, you have to shop smarter. That means using coupons and discounts to lower your bills. While couponing is a time-consuming activity, the savings you receive will fight off inflating grocery prices.
When it comes to gas, I suggest using gas savings apps, or buying Costco gas, to help cut costs. If public transportation is available, see what affordable options they have and be flexible. Live close to the job? Try biking or walking. Housing has become a real issue as well. If you’re looking to buy, do not bite off more than you can chew right now. Things will get better, and right now you need to have patience until the market gets reasonable.
Who knows how long price hikes will continue. I hope it only lasts for a little while, and everyone affected can find a way to manage it. If you’re currently feeling the pinch of price hikes, tell us how and what you plan to do about it in the comments.
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