How To Deal with Inflation: Real Life Tips

Ways to manage your finances as prices skyrocket

Photo by Jerry D Clement; used with permission

With inflation at its highest rate in decades, household budgets in all but the highest income brackets are feeling the pinch of this upward spiral in prices.

What are some great strategies for dealing with inflation at the personal household level? I asked the question on Quora. Here is an edited compilation of the responses:

• Live within your means. Don’t spend money you don’t have or buy things you don’t need.
• Track your spending. Know where your money goes.
• Examine all your routines and make changes that will reduce spending. You may have habits that you don’t realize are wasting money.
• If your car is paid for, keep it.
• When food shopping, make a list and stick to it.
• Prepare most of your meals at home.
• Make your coffee at home or the office. Stop paying high prices at trendy coffee shops.
• Buy well-made, durable products. Even if they cost more, they’ll last longer and be worth it.
• Buy used items and participate in free exchange and borrowing groups.
• When possible, walk or take public transportation instead of…