Don't let inflation stress you, take these steps to save money

2022-09-16 22:06:15 By : Mr. NIKE HUAN

While it may seem like we haven’t had to deal with it in a while, the truth is, inflation has been around pretty much forever, it’s just not usually this bad in the U.S.

In fact, from 2012-2020, U.S. consumers enjoyed a long run of low inflation. It fluctuated between 0.7-2.3%. In 2021 it jumped to 7%, and it increased again in 2022 to 8.5%.

It could be worse; Argentina’s inflation was 71% in July, and Turkey’s inflation rate was 80% in August, according to tradingeconomics.com.

Even though prices in the U.S. aren’t increasing as much as they are in those countries, 8.5% inflation still isn’t any fun.

To help soften the impact of inflation on your bottom line, take a couple steps to save money at the store.

First, whenever possible, buy in larger quantities.

You can usually save at least 10% on your purchase, and sometimes you can save over 50% very easily by buying more items than you need for that particular week.

For example, if you buy a 12-pack of 12-ounce Pepsi cans, they will cost 54 cents each. If you buy the 24-pack, they will cost you only 43 cents each.

A single box of Puffs Ultra Soft tissues will cost you 2.9 cents for each tissue. If you buy the four-pack, each tissue will cost you only 1.3 cents each.

Some people will scoff at caring about saving less than two cents per tissue, but if you buy the four-pack, you’re basically getting the same product for better than half price.

How about diapers? A box of 66 Pampers Swaddlers will cost you just over 41 cents each, while the box with 116 Swaddlers will cost you about 33 cents per diaper. If it helps, don’t think of it as saving “only” eight cents per diaper, look at it as if you are saving approximately 20% on your diaper bill.

A single Oral-B Pro-Flex toothbrush will cost you $4.97, but if you buy the four-pack for $12.97, you’ll get them for only $3.24 apiece. Since you’re not ever going to stop brushing your teeth (right?), go ahead and get the multi-pack.

You’ll save almost $7 by doing so.

Another example: A value box of Quaker Maple & Brown Sugar instant oatmeal contains 20 packs. At $7.86 for the box, each packet of oatmeal averages just over 39 cents each. If you buy the single serving of Quaker oatmeal that comes in a disposable container to eat out of, it will cost you $1.24. That’s over three times the cost!

Buying larger quantities can save you money, but be sure you’re not buying huge amounts of something that will spoil, or something that you know you don’t use very often.

Another way to save at the grocery store is to cut your own apples. And watermelon. And pineapple, broccoli, and all the rest of your produce.

Every time you buy any kind of produce that is already cut into slices or bite-size pieces, just remember you are paying the store for this service. And sometimes, it’s a huge, hidden fee.

I compared the price of pre-cut apples to a whole apple at a local grocery store. Six mini-bags of sliced apples, weighing a total of 10.8 ounces, cost $4.97. A whole apple, minus the core, weighs about seven ounces.

I recently bought a bunch of Ambrosia apples for about 90 cents apiece. To get 10.8 ounces, I’d need to cut up approximately 1.5 apples, which would cost around $1.35.

So, which would you rather pay for 10.8 ounces of sliced apples: $1.35 or $4.97?

I hope you’re not buying the pre-sliced apples because you think it will save time: get a good apple slicer and you’ll turn an apple into eight slices in about five seconds. Easy.

Get in the habit of cutting up your vegetables and fruits yourself, and you’ll save money. The savings might not be the exact same as it was in the apple example, but it will be similar.

Inflation is not fun and can stress you out if you’re on a tight budget. Buying larger quantities and preparing your produce yourself can save you a lot of money over time without doing much work.

Dave Kinzer is a music teacher and a financial coach in Springfield. Contact him at www.davekinzer.com. His column will appear here every other Wednesday.