How to Budget During Inflation: 12 Money-Saving Tips

1. Hacks to save on gas

Many gas stations now offer a cash price and a credit price. It’s cheaper to buy gas with cash. Consider taking your gas budget out of your bank account and putting it into cash.

Some gas stations offer loyalty cards that save you 3-10 cents off per gallon. You can also download gas-saving apps like Upside. Upside works with local gas stations to get you cashback on the gasoline you purchase.

Another way to get the most for your money is to fill your tank in the coolest part of the day. If you live in a very warm location this will make a difference. Your car can take more gasoline when it’s cooled down.

You can also Google ‘gas prices near me.’ You can save as much as 20 cents per gallon if you look for the gas station with the cheapest prices. When you’re paying $80-$100 for gas, every cent saved makes a difference.

2. Create an inflation cushion

Be proactive about putting money away. Save as much as you can to give yourself an inflation cushion. If you can, start putting $20-$50 dollars aside every pay period.

3. Consolidate errands

Consolidate all of your errands into one day. map out your errands efficiently to save gas. Run errands during the coolest periods of the day if you live in a very warm area. This will help minimize the amount of air-conditioning you need which will also save you gas.

4. Reduce air conditioner use

While we’d all prefer to blast the air conditioning for maximum comfort, it’s just too costly. To save on air conditioning, keep your shades drawn when the sun is out. Use fans to help cool things down.

Use any tricks you can think of to help keep your home cool to supplement your air conditioning.

5. Budgeting for kids

Prices are going up for everything, including activities for kids. Whether you want your kids to join the soccer team, or you just want to buy some crafts to keep them busy, you will be spending more than you have in the past.

Add some money to your budget for activities, supplies, and entertainment for the kids.

6. Remove unnecessary luxuries

Remove luxuries from your budget. If you have money in your budget for getting your nails done, getting a wax, or getting your hair colored, save that money and do as much as you can on your own at home. Even if it’s just a few dollars it’s worth the savings in times like these.

7. Take on a side hustle

Consider taking on a side hustle. There are so many ways you can make money on the side, especially online. It is hard to sacrifice the small amount of free time that you have but that extra cash will bring you peace of mind.

8. Plug loose holes in your bank account

Sometimes banks sneak in fees that we don’t realize are completely unnecessary. Some banks will charge you an extra $5-$10 a month to send you a paper copy of your bank statement each month.

Check for subscriptions you forgot about. There could be subscriptions you don’t even use. Without realizing it, you’re throwing away good money every month.

If you’re unsure what you have, try an app like Truebill (now Rocket Money). This app will help you find and cancel subscriptions you didn’t know you had.

9. Online grocery shopping

Switch to online ordering and pickup services for your grocery shopping. Most pickup services are free. When you order online and do a pickup you are preventing yourself from getting into a situation where you will be tempted with impulse purchases.

You can also create orders at multiple shops based on where you will get the best deals for each item which is a great way to save.

10. Save on meat

Buy whole cuts of meat. Instead of buying pork chops, buy a whole pork loin. If you’re buying chicken, buy an entire chicken. Butchering your meat yourself is easy and will save you money. You’re paying less per pound for your meat by doing butchering at home.

11 Save with cooking

Make more soups and casseroles. You can stretch that one pound of meat much further over multiple meals with soups and casseroles. Add some inexpensive and filling side dishes to your meals. Add more bread, rice, potatoes, or pasta to your meals.

If you want a healthier alternative, try beans or lentils. They have a lot of nutritional value and are very filling. To save even more, learn how to make dry beans. It’s a little extra work but it is worth the savings.

12. Save on produce

Many people have been picking up their city roots and buying small farms. Most small farms with decent vegetable patches will have vegetables for better prices than grocery stores. You may even want to try growing some of your own vegetables if that is an option.

You can often find produce with small “imperfections” for less money. Maybe it’s an apple that’s not perfectly round or strangely shaped carrots.

Supermarkets like to sell perfect-looking fruits and vegetables, but you can find misshapen produce that is just as good for discounted prices. They just look a little different. Apps like Misfits Market sell imperfect-looking produce for great prices.

How to budget during inflation

Inflation is forcing us all to get creative and find new ways to save and spend less.

I hope these tips were helpful to you. Do you have any good savings tricks I didn’t mention? Leave me a comment so we can exchange ideas.