28.02.2023

HOW TO SAVE WITH INFLATION?

Rising prices and economic uncertainty in recent months have many people worried. In these conditions, instead of panicking, the more forward looking are looking for different ways in which they can optimize their spending, preserve the value of their money and cope with the situation without radically changing their lifestyle. For them, the team of the Bulgarian financial site Tvoitepari.com has selected seven easy-to-implement tips that can help minimize the effects of inflation.

Buy used or rent

There are often great deals on resale or bulk shopping sites that can save us a ton of money without sacrificing quality. Books, toys, sports equipment, furniture, clothes and accessories ... we can find all this many times cheaper. There are also cases in which it makes more sense to rent - for example, skis, tools or equipment that we will not need in the long term. Or a formal suit that we will only wear once. So with a small investment, we will save a lot.

Cook at home

Cooking at home saves a lot of money. Even if you are not a chef, today there are many apps that will literally show you step by step how to prepare a dish. In the store, look for products that are further reduced. More and more stores offer special sections with food that is perfectly good, but is about to expire or has damaged packaging.

Another way to save is instead of buying coffee from the cafeteria, make it at home and take it in a thermos. Remember - small expenses that we make regularly every day can turn out to be an important factor in spending money. And one bonus of cooking at home – you control the calories, and the leftovers can be taken as lunch the next day.

Urban agriculture

If you have a large balcony, yard or cottage, why not make your own garden. Today there are decorative varieties of tomatoes, cucumbers, peppers suitable for urban conditions. The feeling of growing your own from a seed is so inspiring. In addition to saving money, this way you reduce the harmful emissions that would otherwise be generated by transporting the products, and last but not least, you and your family will feel much more connected to the food you have grown.

Reduce digital subscriptions

Do you really need all the streaming apps and paid "cloud" platforms? These are recurring subscriptions that add costs to your budget each month. To save some money, you can limit the number of apps you pay for and optimize their usage. So, for example, today you can watch the movies from one streaming channel, and after a month you can unsubscribe and sign up for another service.

Travel in the off season

Tightening your seat belt doesn't mean saying goodbye to your travel plans. Be creative. If you have children who go to school, you will have limited vacation time. If not, you can avoid the crowds and take advantage of off-season deals. This means a more relaxed and cheaper holiday. There are other ways to save money on travel. For example, instead of a hotel, you might stay with locals or look at cheaper options on home-sharing platforms.

Barter and trade

If you need an appliance and you have one that you don't use, why not try to trade them. There are many barter groups on social networks, take advantage and save.

Reduce transportation costs

If you don't have convenient public transportation nearby, a car is essential. But there are still ways to save on fuel costs. If conditions allow, consider an electric scooter, bike or carpool. Instead of shopping at the store by car, go on foot. An added bonus - it's good for your health, the environment and the local economy.

Here are some tricks to save money on fuel:

reduce your speed on the highway;

avoid sudden starts and stops;

turn off the air conditioner;

make sure the tank is full;

keep your tires inflated;

check your engine oil level.