I'm Giving Inflation A Run For Its Money. How Are You Doing It?

OneEyedDiva

OneEyedDiva

SF VIP
Location
New Jersey
First, this disclaimer: I own a unit in a complex where our monthly housing expenses are far below the average for the area and they rarely increase. Heat and hot water are included so the rise in oil prices also doesn’t affect me and since I don’t drive anymore neither do higher gas prices. I only eat red meat a couple of times a year and then it’s a fast food hamburger, so the high cost of meat is not an issue. My doctor visits and medication costs are very little due to my excellent State retiree group health and prescription plans.

I’m fighting inflation by:
~Comparison shopping for who has the better prices on each item.
~Buying store brands I actually love (this initially involved trial and error).
~Buying wholesale when it’s beneficial.
~Monitoring sale cycles (works particularly well with Costco and our local supermarket) and shopping the sales.
~Making optimum use of my credit card cash back rewards. About 9 months out of the year, I get 5% back on groceries.

In 2022, my grocery bill averaged $12.50 more a month than in 2021. Since my son moved in, our average monthly electric bill has been $84 up from $71. The rise in those two monthly expenses equals $25.50 or $306 a year. My 2022 cash back rewards for buying everyday, normal stuff I need far exceeded that increase and came to $1,100. Exact figures courtesy of Vertex Family Budget Planner self tallying spreadsheet.

A few examples of savings on groceries include these price differences: $2.40 less on wheat bread, $1 on pasta sauce, $2.50 ice cream, $3 on oatmeal 10 packs, $1 waffles courtesy of the supermarket brands I love and 24 cents less for each can of cat food via Amazon.

I paid $17.85 for 8.5 pounds of Tidy Cat litter from Petco but $10.99 for 42 pounds of Scoop Away on sale at Costco. The regular price is $14.79, still a huge savings. Vegetable egg rolls at our supermarket were $4.99 for a box of 5. Spring rolls at Costco were on sale…$7.69 for a box of 50. Granted it takes about 3 spring rolls to equal 1 egg roll but that’s still about 46 cents a serving as opposed to $1 a serving. The regular price is $10.79 or 65 cents per serving.

During the pandemic, I found only one box of Bromley decaf green tea (48 bags) at Shoprite and it was on sale for $2.29. Amazon had a bulk pack of 8 boxes for $3.16 a box which I grabbed because I drink that tea daily. Now Amazon is charging $4.88 per box for the bulk pack and $6.20 for a single box, which is insane! Before I sent my son to Shoprite last week I looked through their circular and found that the tea was on sale for $1.99 a box so I got another 8 boxes.

What moves are you making to give inflation a run for its money?
 

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Great post , Diva. Love the informative detail.

I can add nothing except a second thumbs up on store brands. I've been using them for years and often like the store brand better. Only experimentation will tell. For instance we like Kroger Corn Flakes better than the name brand but Kroger Cheerios aren't as good as the big name.
 
@ OneEyeDiva Impressive how you monitor pricing

For us nothing different since I gave up smoking to have money to feed our 1st. born. That was when cigarettes were 80cents a carton on the Navy base. They went to $1.20. Buying on sale & making meals instead of eating at restaurants a staple of not spending foolishly.

example.
Buying whole chickens, breaking them down for a variety of meals. Boning out the breast then using the bones for broth for a variety of food prep.

BUT!! were getting close to our dirt naps so the money that we've acquired by being frugal is now being spent for whatever we want to do.
 

I've been doing comparison shopping and buying store brands all my life, but lately have been buying much less packaged / processed food and building meals out of basic, real food.
My solution for saving at the gas pump: I don't fill up, just buy smaller quantities and wait for the price to drop. Part of that strategy is driving less, and shopping online helps with that a lot.
 
Do the math.

Pay attention to cost per ounce or gram. "A good price" might be an illusion. The family size might not be a bargain.

Read the nutrition labels. For example, if you're eating a certain food to meet your protein needs, check the actual protein content. Does your dollar buy 4 grams of protein, or 14 grams?

I've been doing this all my life, and can do the calculations in my head. But you don't have to. Various calculators (online and in apps) are made specifically for this.

Also, check the actual savings in sale prices. If something was $8.19 and is now $7.99, that isn't much of a saving. Sure, 20 cents is 20 cents, but this might not be the time to stock up.
 
I have mixed thoughts about eating out...of course you can save money if you "never" eat out but really, our local eateries need support. We have been trying to eat at smaller local restaurants when we do eat out which is once or twice a week and often take a neighbor lady that lives alone with us.
 
As @Knight said, we're getting close to the end of this path. House is paid off, kids raised, no car notes or other loans, no big expenses expected, and SS comes in every month.

Our parents all grew up during the Depression and instilled thrifty habits in their children early and often. "Use it up, make it do, wear it out" and "Waste not want not" were frequently heard in our homes. We taught our children the same.

I do most of what others have commented on including making most meals from scratch or nearly so. I keep an eye on prices, use dried beans and legumes, prefer making my own bread, pizza, and other baked goods (using good quality ingredients). Same with hummus and pasta sauces. I maintain a stocked freezer and deep pantry so necessary ingredients are always at hand.

We virtually never buy bottled water because our tap water is surprisingly good, even unfiltered. Even so, we run drinking/cooking water through a Brita to make it taste that much better. I fill gallon jugs and 2 liter bottles for EQ and other emergency water. Every summer I dump them in the pool and freshly refill.

Cloth napkins instead of paper, rags and sponges for most messes rather than paper towels, real plates instead of paper. Can't remember the last time we bought take out food.

We don't replace/upgrade phones, computers or appliances until necessary. Rarely purchase books, preferring the library's electronic and paper books, as well as DVDs (though we do make an annual financial donation to our branch).

On the less frugal side:

DH & I tip service people generously - gardeners, handyman, carpet cleaner, hairdressers, restaurant waitstaff, etc. We aren't averse to paying for streaming services and high speed internet. We value investigative journalism and pay for half a dozen electronic newspaper and magazine subscriptions to help support it.

We support our grandchildren's school and scouting fundraisers, donated generously to our daughter's recent (successful!) underdog election campaign for school board member, and insisted on paying for a safety fence around our son's pool because his baby is now toddling - installation starts next week.

We're pretty much over going out to dinner, but quite enjoy going out for lunch.

So, frugal in some ways but not in others. We're in the fortunate position of not needing to pinch every penny, but have been there, done that and could tighten our belts considerably if necessary.
 
StarSong said:
As @Knight said, we're getting close to the end of this path. House is paid off, kids raised, no car notes or other loans, no big expenses expected, and SS comes in every month.

Our parents all grew up during the Depression and instilled thrifty habits in their children early and often. "Use it up, make it do, wear it out" and "Waste not want not" were frequently heard in our homes. We taught our children the same.

I do most of what others have commented on including making most meals from scratch or nearly so. I keep an eye on prices, use dried beans and legumes, prefer making my own bread, pizza, and other baked goods (using good quality ingredients). Same with hummus and pasta sauces. I maintain a stocked freezer and deep pantry so necessary ingredients are always at hand.

We virtually never buy bottled water because our tap water is surprisingly good, even unfiltered. Even so, we run drinking/cooking water through a Brita to make it taste that much better. I fill gallon jugs and 2 liter bottles for EQ and other emergency water. Every summer I dump them in the pool and freshly refill.

Cloth napkins instead of paper, rags and sponges for most messes rather than paper towels, real plates instead of paper. Can't remember the last time we bought take out food.

We don't replace/upgrade phones, computers or appliances until necessary. Rarely purchase books, preferring the library's electronic and paper books, as well as DVDs (though we do make an annual financial donation to our branch).

On the less frugal side:

DH & I tip service people generously - gardeners, handyman, carpet cleaner, hairdressers, restaurant waitstaff, etc. We aren't averse to paying for streaming services and high speed internet. We value investigative journalism and pay for half a dozen electronic newspaper and magazine subscriptions to help support it.

We support our grandchildren's school and scouting fundraisers, donated generously to our daughter's recent (successful!) underdog election campaign for school board member, and insisted on paying for a safety fence around our son's pool because his baby is now toddling - installation starts next week.

We're pretty much over going out to dinner, but quite enjoy going out for lunch.

So, frugal in some ways but not in others. We're in the fortunate position of not needing to pinch every penny, but have been there, done that and could tighten our belts considerably if necessary.
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You've found your ways to be frugal, some of which I do too...others, not so much. Like me, being frugal in the areas you choose gives you the ability to be generous in other areas. It's a good feeling to have that control and those choices. Way to go Star!
 
Della said:
Great post , Diva. Love the informative detail.

I can add nothing except a second thumbs up on store brands. I've been using them for years and often like the store brand better. Only experimentation will tell. For instance we like Kroger Corn Flakes better than the name brand but Kroger Cheerios aren't as good as the big name.
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Thank you Della; glad you found it useful. Your reply made me think about when I was "Poor Girl". Pathmark, a big supermarket chain at the time had their No Frills brand, which of course was cheaper. No Frills "Loops" (forgot what they actually called them) tasted better than the name brand "Fruit Loops".
@Knight "@ OneEyeDiva Impressive how you monitor pricing." Thank you. Glad you're getting to spend on things you want.
@Roadwarrior "You're doing great! " If that was for me...Thank you.
 
We also use a credit card that gives us cash back, 2.6% on all purchases. Unfortunately, there's a new trend now of businesses passing along credit card fees to the consumer. Much like gas stations often have lower prices for cash. Sadly, this negates the cash back. We recently had some work done at our house and the vendor gave us 2 prices, one for cash, and a higher one for credit. I think this trend will continue as businesses look for ways to improve their profit.
 
Rich said:
We also use a credit card that gives us cash back, 2.6% on all purchases. Unfortunately, there's a new trend now of businesses passing along credit card fees to the consumer. Much like gas stations often have lower prices for cash. Sadly, this negates the cash back. We recently had some work done at our house and the vendor gave us 2 prices, one for cash, and a higher one for credit. I think this trend will continue as businesses look for ways to improve their profit.
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That business of pay less for using cash instead of credit or debit is unknown here in Canada. The pump price is what you pay, regardless of the method you use. JimB.
 
First I've heard of it. Maybe most merchants fear a backlash. The way it is now, the credit card fee is calculated into the price. So everyone pays a bit more, even if they pay cash.
 
CallMeKate said:
Did this new thing in Canada never come to pass then? The report is just from 3.5 months ago.

https://www.nerdwallet.com/ca/credit-cards/what-to-know-credit-card-processing-interchange-fee
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Its not a law. It is a option for credit card and debit companies to charge a transaction fee. Some do, some don't. My comment was that in Canada, there is no such a thing as a lower price at the pump, by paying in cash. AS a matter of fact, many gas stations encourage card payments so they don't have a lot of currency in the till, to deter robberies at gas stations. Most gas stations here use a time delay safe, which the attendant uses to put excess cash into, during their shift. The time delay safe cannot be opened for a hour, after the last time it was opened, as a theft precaution. JImB.
 
NorthernLight said:
First I've heard of it. Maybe most merchants fear a backlash. The way it is now, the credit card fee is calculated into the price. So everyone pays a bit more, even if they pay cash.
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That could be the reason, yes... not many had decided to charge it. One thing is for sure, no matter how they do it, businesses are not going to be losing any money, I'm sure.
 
jimintoronto said:
Its not a law. It is a option for credit card and debit companies to charge a transaction fee. Some do, some don't. My comment was that in Canada, there is no such a thing as a lower price at the pump, by paying in cash. AS a matter of fact, many gas stations encourage card payments so they don't have a lot of currency in the till, to deter robberies at gas stations. Most gas stations here use a time delay safe, which the attendant uses to put excess cash into, during their shift. The time delay safe cannot be opened for a hour, after the last time it was opened, as a theft precaution. JImB.
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Thanks, @jimintoronto . I have a friend in Mississauga who was complaining about it around Christmas. That's very wise of your gas stations to not have a lot of cash lying around. Gas stations/convenience stores are often thought of as "easy targets" so these precautions are always a good thing.
 
CallMeKate said:
That could be the reason, yes... not many had decided to charge it. One thing is for sure, no matter how they do it, businesses are not going to be losing any money, I'm sure.
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On the contrary...........Many Canadian small business have gone OUT of business, due to a number of factors, such as the shut downs during the Covid epidemic, and the down turn in our national economy. Hundreds of small retail business owners in my city ( Toronto ) have closed up, and declared bankruptcy in the past 3 years. Dozens of other small business operators have also closed their doors, because people stopped buying or using their services. Drive along any of the main business streets in Toronto and count the closed up stores. Same thing in the shopping malls. At the lowest level...The hair dressers shop that my Wife used to go to is out of business, and so is our favorite pizza shop and my repair garage ( a 35 year Father and Son ) business has closed up . The same thing has happened across the country in the hotel and resort business sector. JImB.
 
As many here, I grew up with depression era parents, and have been frugal most of my life, and still am for the most part. Now that we are financially in good shape I tend to get what ever I need, mostly shop related things, but still tend to buy good used, or shop for the best deal. The only real exception is alcohol. Life is just too short to drink cheap beer, or liquor.
 
Rich said:
We also use a credit card that gives us cash back, 2.6% on all purchases. Unfortunately, there's a new trend now of businesses passing along credit card fees to the consumer. Much like gas stations often have lower prices for cash. Sadly, this negates the cash back. We recently had some work done at our house and the vendor gave us 2 prices, one for cash, and a higher one for credit. I think this trend will continue as businesses look for ways to improve their profit.
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I've experienced this only a couple of times in the US. Once when we were doing some remodeling (one price for a bank transfer or cash, 4% higher for credit card) and same when buying a car. The dealer offered to let us put $5K on a credit card with no additional fee (amounted to a $100 discount because we got 2% cash back from the CC). The rest we paid by check. If we'd wanted to CC the full amount there would have been a 3% premium.

To be fair, when our small business started taking CCs and processing online sales, it quickly became obvious that most payments would shift to CCs. We had to raise prices 5% across the board to compensate, which is roughly what it cost us to process CCs back then. Fees for each swipe plus about 2% of the full amount sold. Monthly fees, equipment costs, etc. were costly. We only took MC and Visa because AmEx and Discover charged merchants even higher rates.

People paying cash received a 5% discount and we only accepted checks from people we knew well. Got stung on a few bad checks over the years.
 
I grew up in a household where we were taught to be money conscious. My Mother was a sahm but she worked very hard making a good life for all of us. We had a very large garden, there was nothing my stepdad could not grow. Mom could can, make jellies and preserves, and prepare things for freezing. Meat was purchased from local farmers, beef, pork and chicken. We had large chest freezers. She did not bake bread but we were users of the local bread stores, so called old but were not at all. Those items of bread, rolls and sweets went into the freezer. Those stores have now disappeared. We had one just around the corner but it is gone now.

Growing up that way served me well, I did not learn to can but I did learn to cook. I have continued to do so all my life. My Mom taught me to pay attention, to buy during sales, to keep a good pantry stocked. My own family never without a good home cooked meal.

I also learned to be happy with my life, you do not have to have the latest and greatest. There is nothing wrong with used items. Leave the wealthy to buy the new things and then buy them one year later when they don't use them for pennies on the dollar. I do not feel the need to impress anyone, I like nice things but I prefer to buy them at the best price. Patience is a virtue.

I guess the main thing, I do not have to worry about money, at least for now. I have a roof over my head, a paid off car and no debt. That alone is enough reason to feel at peace.
 
@Blessed Your mention of canning reminded me ...

Nowadays we can freeze things instead. I used to eat a lot of beans (black beans, etc.). I'd cook a big batch and freeze portions. We can also freeze fruit, for example, in-season fruit that we might get for free or almost free.

I buy meat on sale and freeze large quantities, even though my only "freezer" is the top of my fridge. Sometimes meat comes in boxes or on styrofoam trays. Repackaging in Ziploc bags can save a lot of freezer space.

I buy large hams and roasts on sale, and cut them into portions for freezing. Some meats, e.g., turkey and ham, are really cheap at holiday times. Others might go on sale during barbecue season.
 

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