4 Ways to Fight Inflation and Its Negative Effects

4 Ways to Fight Inflation and Its Negative Effects

The prices of necessities and entertainment options have gone up tremendously. Everyone has their unique struggles fighting the inflation that is occurring, whether it’s the outrageous gas prices or the expensive food at restaurants. 

There’s got to be ways to save money, live within your means, and enjoy life even with the negative effects of inflation bearing down on the U.S. We’ll talk about some of the lifestyle changes you can make to save money. This can range from walking or bicycling instead of driving to looking for auto insurance discounts for your car. 

You may be surprised at the number of ways you can fight inflation if you give it some careful thought and look to others for advice. 

#1 – Cut Down on Driving

Sometimes it’s hard to cut down on driving. If you have a job that is many miles away, there aren’t many options to drive less. You could think about using public transportation like buses and light rails if they are convenient enough for you to get to work on time. This will save you a tremendous amount of money on gas and car maintenance

If you work from home, this is the best option to eliminate driving except for when you want to go out and have fun. Many people found out during the pandemic that driving to work is simply not necessary for a lot of office jobs. While some companies still want their workers to come on location, they don’t have as much leverage to force this as before. 

Talk to your employer about working from home or becoming a hybrid employee. These options will really save you money on gas. In your free time, don’t always go out. Find ways to have fun locally. Play with your kids in the yard. Go to a park that’s close to home and enjoy the fresh air. 

Cutting down on driving is also a great way to get insurance discounts for your car. Many insurance companies will give you a cheaper price if they know you only drive for pleasure. Let them know about your employment situation, whether you work from home, and your average miles driven each month. 

Some companies will track your miles driven with a device or an app to get more accurate readings on your driving habits. Let them do this and you could save even more money. 

#2 – Eliminate Gym Memberships

The gym provides a lot of equipment and extra activities you may struggle to find elsewhere. But during these tough times of inflation, you might find your gym upping your membership price even more than what it already was. You should seriously consider whether you still need the things your gym provides, or whether you can get exercise at home. 

The pandemic allowed people to see they could get moving at home during lockdowns, with runs around the park, bicycling trips along a trail, or home exercise equipment. Sometimes people don’t even realize they are spending money on their gym memberships because they get busy with other things in life. 

If you still like certain things at your gym and you can’t get them at home, eliminate add-ons you don’t use anymore. Some gyms charge more to use things like the swimming pool, the basketball court, and other extra features. You can also eliminate any classes you take or personal trainers. 

#3 – Look to Get Rid of Unnecessary Subscriptions

Gym memberships aren’t the only subscription-style services that people forget to cancel when they aren’t using them anymore. When people buy things that have automatic billing, it really takes away your ability to track what you are spending each month. People forget about certain things they don’t use anymore. 

A big example of this is the number of television subscriptions there are now. You don’t need Netflix, Hulu, and Amazon Prime Video if you only watch one or two shows each week. Look at what your favorite programs are, and cancel the channels you don’t use as often. 

Magazine subscriptions and online publications are another big money-eater. Newspapers often charge a fee each month now. It adds up to more than if you just bought the paper when you really want to see what’s in the news on a specific day. 

If you are a big news fanatic – someone who needs to keep up with everything in The New York Times, for example – this will remain a better value for you than buying the newspaper every morning. Evaluate your lifestyle and see what you want to use and what you no longer need. 

You should even look to turn off automatic billing on things like credit cards, utility bills, etc. These are all things you need to pay each month, but paying them manually allows you to track your spending and budget more efficiently for the next month. 

You can see whether you are spending more money on water, electricity, and other essentials when you pay the bill each month manually. 

#4 – Don’t Eat Out so Much

Many food service locations and restaurants have had to raise their prices to stay in business during the pandemic and now with the higher rates of inflation. You should always support the businesses that you have frequented for years, especially small businesses, but try to avoid eating out at fast-food restaurants every night. 

McDonald’s, Taco Bell, and other big names in the industry have had to raise their prices, too, and you can save a lot of money by cooking at home. Go to the grocery store when there are good sales of fresh produce and proteins like steak, chicken, or fish. 

You can buy enough food for several meals sometimes and you will spend less than buying at fast-food restaurants. Make eating out a treat or for when you don’t have time to cook at home. 

Everyone is struggling with the effects of inflation in their own way. You should evaluate what to eliminate in your life so you can save money without ruining your day-to-day enjoyment of things you love. It’s important to weigh the positives and negatives of every financial decision you make and go from there. 

Shawn Laib writes and researches for the auto insurance comparison site, AutoInsurance.org. He wants to help people understand how saving money on their driving habits will affect other areas of their lives.

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