Posted by Anna Traugh on May 22, 2024
Inflation has been hitting us all hard lately, making it tough to stretch those dollars. While the annual inflation rate appears to be headed in the right direction, it could still take some time before it reaches its target. In the meantime, consider following these tips to help take control of monthly spending:
1. Get savvy with sales and coupons
One of the biggest budget busters can be groceries and eating out. Get savvy with sales and promotions. You'd be amazed at how much you can save just by being a little strategic with your shopping. I just recently added a “no-meat” night to my weekly rotation, and it is not only a great change for my health but less expensive too.
2. Get creative with social activities
Another inflation-buster is looking for alternative entertainment options beyond movies and concerts. Get outdoorsy and explore some hiking trails or parks in your area. Host game nights with friends. Check if your local library or community center offers free events and classes. Getting creative with social activities can save money and may find you a new favorite hobby!
3. Make your home more efficient
The cost of keeping the lights on, the water flowing, and the temperature comfortable can really add up. Making small tweaks to how you consume energy in your home could reduce your total monthly bill and help the environment at the same time. Some simple things you can do include fixing drafty doors and windows; turning the thermostat up a few degrees in the summer and down a few degrees in the winter; swapping out incandescent light bulbs with LED lightbulbs; purchasing energy-efficient appliances; taking shorter showers; washing clothes in cold water; and fixing leaky faucets and duct work.
The key is being proactive and finding smart ways to cut back without totally depriving yourself. Look at your weekly and monthly expenses and see if there is anything you can cut out. A few lifestyle tweaks can go a long way towards helping you feel more empowered about your household spending. Cornerstone is always looking for great tips – we would love to hear yours!
Disclaimer: This post is for informational purposes only and is not to be considered investment, tax, or financial advice. Cornerstone does not and cannot guarantee the accuracy or applicability of any information presented in this post regarding your individual circumstances. Please review your personal situation with your tax and/or financial advisor.
