About 88 percent of Americans say they’re concerned about inflation — and rightly so. Data doesn’t lie. According to the Consumer Price Index (CPI) report last month, it’s the highest it’s been in 40 years. So, your cranky old neighbor who keeps complaining about how much prices have gone up isn’t exactly wrong.
The thing is, there’s not a whole lot you can do about the increasing costs. There are some ways you can hack your habits, however, to help ease the burden. Since extending your dollar is essential in these trying times, here are a few swaps you can make to offset your costs in the things hit hardest by inflation.
Grocery Shopping
All food prices are expected to increase in the coming months, according to the newly updated report from the U.S. Department of Agriculture. Grocery shopping has become an expensive affair in 2022, but particularly for meat eaters. Topping the list with the biggest price increase compared to just last year is beef and veal (16.2 percent). Many animal product categories have reached a double-digit increase just over the past 12 months.
Inflation hack: Warehouses like Costco and Sam’s Club have lower prices for most groceries than traditional grocery stores. Plus, you can buy things like meat in bulk and freeze it for later. For a limited time, you can sign up for a one-year Sam’s Club membership for only $14.99 and kick things off with a free $10 gift card.
Traveling
With oil prices rising, jet fuel prices are rising, which means airlines are forced to increase prices for traveling. In March 2022, we saw a 20 percent rise in airfare prices over March 2019, with travelers definitely feeling the impact.
Inflation hack: Sign up for a discounted airfare alert subscription — like Dollar Flight Club — before booking your next flight. A Premium Plus+ lifetime subscription to this service is only $99 and could end up saving you up to $2,000 on domestic and international Business, Premium Economy, and Economy Class flights.
Consumer electronics and appliances
With a shortage of steel, plastics, semiconductor chips, and other manufacturing materials across the globe, production costs are skyrocketing. Unless the production costs see a decrease, consumer electronics and appliances prices will only further increase. Everything from cell phones and computers to large appliances like ovens and dishwashers has seen a price hike and it’s not expected to drop until the global supply chain crisis is resolved.
Inflation hack: Opt for smaller appliances that can multitask, like an air fryer toaster oven with eight cooking programs in one, which will only cost you $130. Refurbished devices are always a good way to save money as well. A refurbished MacBook Air, for example, will only cost you $476, instead of over $1,000.
Furniture and Bedding
Between the spike in lumber prices and other raw materials and shipping challenges due to global supply chain issues, furniture and bedding have seen about a 12 percent increase over the last couple of years.
Inflation hack: Online-only mattress companies like GhostBed offer lower-priced options than those in-store (the 13-inch Luxe King Cooling Mattress is just $1,468.99 on sale). While you can’t lay on it first to test it out, you’ll get 101 days to sleep on it as a trial — after that, you can return it for free with a money-back guarantee if you don’t love it.
Inflation hack #2: You should always snag a good deal when you see it, as it may not be available the next time you look — like these bamboo smart pocket sheets on sale for only $33 (reg. $119).
Education
As if education wasn’t expensive enough, tuition hikes are all but guaranteed to coincide with current inflation rates. Several institutions have already announced tuition and fee hikes for next year as high as 4.7 percent. And that doesn’t even include the higher costs of meal plans and housing.
Inflation hack: Online courses are an affordable way to learn something new at home. Sure, it doesn’t replace a formal education, but you can still gain career skills that will help you get a higher paycheck. Check out this business course from Chris Haroun that will teach you how to build a business from scratch, for instance, which is on sale for only $12.99. (Despite its name, it is definitely not an MBA, though.)
Gas and Electricity
As we all know, gas prices are still skyrocketing. The national average for regular gasoline recently rose to $4.328 a gallon in May and unfortunately, shows little signs of stopping. Electricity has also seen a price hike, so switching to an electric vehicle isn’t necessarily going to save you that much money right away.
Inflation hack: To save on electricity and gas, opt to use solar power for as much as you can. The sun provides free energy for everything from cell phones and computers to cars and appliances. This Generark Solar Generator comes with a portable solar panel to get you started — and it’s on sale for $1,499 (reg. $1897).
Prices subject to change.
