Depending on your circumstances, inflation’s effect on prices may or may not be affecting you. For example, if you’re working remotely (or driving an electric vehicle!), you won’t need to worry about higher gasoline prices. No matter what your situation, here are some tips to consider.
- Reduce discretionary, non-essential spending. If you’re able to postpone weekend travel and skip a few drive-thru or take-out meals, these savings will make a big difference.
- Identify online subscriptions and cancel those you aren’t using. You may be surprised to discover how many unwatched, unwanted television channels, memberships, and online games you’re paying for each month.
- Renegotiate your monthly cable, streaming and cell phone bills. While these calls can be time-consuming, any savings will be worth it.
While inflation continues to climb, prices are falling for these items.
- Baseball games: Ticket prices for sporting events are down 11% year over year, according to the Consumer Price Index.
- Tech upgrades: Smartphones are 20% cheaper.
- Books: The price of books has stayed the same despite supply chain woes and inflation.
- Something shiny: Jewelry is ever so slightly cheaper now than it was last year.
- Clothing: If you feel like a trip to the mall, many warm-weather items are either the same price or cheaper compared to 2021 according to Axios.com
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