Inflation affects everyone. From increased grocery prices to the feeling that a dollar doesn’t stretch as far as it used to, we’re all in the same boat. We’ve compiled a list of easy ways to help stretch your budget a little further to combat the potential stress.
- Identify your financial priorities: is it a want or a need?
We know. It’s so simple, but mindfully ordering your financial priorities can be really helpful. It’s easy to get caught up in a daily routine, and taking the time to examine your priorities can provide clarity on wants vs. needs and help reduce overall spending.
- Track your expenses, and create a budget
It’s easy to lose track of small expenses, but a dollar here, and five bucks there, can add up! By tracking your expenses, you can map where your money goes. Take it a step further by creating a budget. If that feels daunting, don’t worry. We’ve got you covered! There are copious sources online to learn more about creating a budget.
- List your subscriptions and cut the ones you don’t use regularly
Subscriptions tend to fly under the radar. Do you use your newspaper subscription? Do you actually watch programming on your TV subscription? When was the last time you streamed music? If you don’t regularly use your subscriptions, canceling them means more money in your pocket.
- At the grocery store, buy generic and use coupons
Everyone on social media raves about meal planning, and for good reason! Meal planning allows you to take advantage of coupons and BOGO deals. If you can’t find a coupon, consider buying generic. Oftentimes, generic items are made along side name brand products. The only differences are the label and the PRICE!
- Shop around for your insurance
It feels like a hassle to shop around for home and auto insurance quotes, but that’s what your agents are relying on! Rather than allowing policies to auto-renew, getting multiple quotes can save you a bundle.
- Set up automatic savings
One automatic transaction we can get behind is establishing automatic savings. Let’s face it, everyone’s juggling a million things in their busy lives, and it’s easy to forget a transfer to savings. Setting up automatic savings removes that task from your list! Stashing a little away each pay period adds up and gives you a cushion when emergencies and unexpected expenses arise.
- Pick up a shift with Indeed Flex
Working a shift for Indeed Flex is a great way to pad your bank account. You choose the places and times to best fit your schedule. Further more, Indeed Flex offers the opportunity to increase your earning potential by referring friends and family to work alongside you!.
Hopefully, some of these tips are helpful and serve to help you stretch your dollar a little further. If you have any questions, concerns, or feedback, please reach out to us via email at [email protected]. We’re always happy to help.