It’s no secret that we’re going through an economic crisis, and even though some of us are taking it worse than others, we’re all in this together.
Most of us have noticed that our expenses have nearly tripled in the past couple of months, and that’s from grocery shopping alone.
When you add the utility bills and your other monthly expenses, you’re looking at quite a hefty amount that not many can cover.
This is why it’s crucial to employ some money-saving strategies in your daily life, and with only a few of them, you could get your finances back in order.
Get accustomed to cheaper meat
Treating yourself to a nice steak every once in a while is definitely something you should do if you can afford it.
However, in times of crisis, choosing not to overspend on pricey cuts of meat may save you hundreds of dollars.
A nice, smoked brisket may have a poverty-ridden heritage, but it’s become quite the expensive choice for many American families.
On the other hand, some cheaper cuts like pork shanks, oxtails, and lamb necks can be just as comforting, at a fraction of the price.
If you incorporate this minor change in your diet, your wallet will be thanking you in no time.
Make food with cheaper ingredients
In economic crises, when some items become inexplicably expensive, others become virtually impossible to find.
This happened back in early 2021 when chicken wings reached an all-time high of $3.25/pound, whereas thighs were still in high supply.
Choosing meals that incorporate ingredients you have easy access to will be a huge service to your finances, especially if you already needed a change in your diet.
Vegans and Latinos seem to have already adapted to this years before, as they’ve adopted nutritious beans and vegetables as a replacement for meat, which has a highly volatile price point.
Save some extra money with a clothesline
It’s not all about food either, and we tend to spend hundreds of dollars every month on commodities that we technically don’t need.
Drying our clothes is one of those things, and research from SimpleDollar found that every hour your laundry spends hung up saves you $10.
On top of this, you’ll save even more money on the dryer sheets you won’t be buying as well as the clothes that’ll last significantly longer.
And if it’s not the season for it, hanging your clothes up on an indoor clothesline is equally as efficient, and it may even help with the air moisture in your home.
ALWAYS prepare for contingencies
Unexpected expenses are always waiting right around the corner to strike at the worst time possible.
This can either be some urgent repairs to your car or a medical emergency that you can’t possibly put off for a better time.
We’re all exposed to this risk, and it’s exactly why having an emergency fund is crucial for managing your finances.
If you don’t have this money ready, you might have to put off some important work for later or even face fees that you can’t possibly cover with the money you’ve got at the time.
Stop impulse shopping
Getting that deal on a pair of shoes you’ve been eyeing for a while does sound great, but maybe you can put it off for later.
With the development of the internet, online shopping has become a habit for many, and unfortunately, an addiction for some.
Impulse buys can amount to a lot of money if you don’t control your shopping urges, especially if the only thing separating you and an item is the press of a button.
On the other hand, if you really must resort to online buying, try searching for the exact item you need, rather than browsing by category, as studies have shown users like this are 3 times as likely to continue browsing.
If you’ve got a garden, you’re probably aware of the amount of water it needs to continue flourishing.
However, many overlook the fact that rainwater is practically a free resource that gets thrown away on a daily basis.
By collecting rainwater in a barrel, you’ll be saving up water to irrigate your lawn, and you’ll even be helping save the environment while you’re at it.
In fact, some local governments even offer tax incentives to anyone willing to store rainwater, as it helps reduce the amount of runoff water from massive storms in the area.
There are dozens more hacks for you to try out if you feel your finances have been in a less-than-optimal state lately.
Fortunately, the majority of these fixes are easy to implement, and they’re not particularly impactful on the lifestyle you’re already accustomed to.
If you just sacrifice certain commodities and include some much-needed change in your life, your financial situation will begin to improve faster than ever before.