The best method to beat inflation is to SAVE. You can save by not spending as much - or save by getting more for each dollar you spend - or not spend any money unless it is absolutely necessary. Keep this report as a check list - refer to it often as a reminder and tips for eliminating or controlling spending - thereby saving yourself many hundreds of dollars each year.
Set up a reasonable budget; stick to it.
Don't buy on credit unless absolutely necessary. (finance charges will be higher than interest you can earn in your saving account.)
Pay charge accounts on time to save extra finance fees.
Pay insurance on a yearly basis, rather than quarterly.
Buy generic drugs whenever possible. Ask your doctor to prescribe them.
Buy prescriptions at discount drug stores; prices will generally be lower than neighborhood drug stores.
Buy vitamins from a mail order firm.
Live where you can afford, you can move to a better location when financial situation permits
When buying an older house: check for termite infestation and woodrot, sagging structure and foundation, electric wiring, heating unit, plumbing, hot water heater, roof, leaky basements.
Keep up proper maintenance on cars and major appliances to avoid major repair expense in the future.
Do minor repairs yourself.
Eliminate the use of unnecessary electric appliances.
Check appliances before you rush to get them fixed. May be only loose connection, accumulation of dirt, or something minor you can fix yourself. Check manual, warranty and guarantee. Call a service agency who might tell you what is wrong and how to correct it.
Check consumer reports at book stores or library for best buys and quality before purchasing major item.
Shop around before buying a major or costly item - you will get a "best buy" if you check various locations.
Besides house and car, the cost of food is a major expense in a family's budget. Here are tips that will enable you to realize substantial savings on food.
If your family is large, consider a freezer to buy food in quantity lots or when prices are most reasonable.
But food in season and freeze for later consumption.
Do comparison shopping at various supermarkets to determine which stores have the best prices on items you frequently purchase.
Avoid buying convenience foods; prepare similar meals at home.
Use cents off coupons for any food item you need to buy.
Buy house brands at lower prices.
Avoid junk and non-nutritious foods; nutrient foods are healthier for you and cost less.
Get a recipe book for leftover foods; many delicious dishes can be prepared from leftovers.
Drink less coffee; switch to tea or lower cost drinks earlier in the day.
Watch the checker for possible errors; check the cash register receipt when you get home.
Buy dented, torn label, or surplus sale items.
Buy perishable foods past the stamped date; store will not sell spoiled food. The item will be full nutritional and tasty if used early or frozen immediately.
Read labels and check weight for best buy.
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