According to the US Department of Agriculture’s Economic Research Service, May’s food prices were 8.3% higher than they were a year ago. To compensate for higher prices, it’s good to cut back and save wherever you can.
Many listeners of my podcast have told me that they have gone back to their go-to savings tricks: cutting out subscriptions, opting into their grocery store’s loyalty program for extra discounts, using a credit card that gives bonus cash back on grocery purchases, and planning weekly menus around sales. Going back to these spending and saving tricks are essential in a high-inflation environment, as the USDA predicts food prices will continue to increase, growing from 4.5% to 5.5% in 2022.
According to Paige, “It’s never too late, and there is always time to make different financial choices. With every sunrise comes a new opportunity and every sunset a day fully lived. The choice to reflect on past and current decisions rests with you. The choice to take action and do something different in order to achieve a different outcome rests with you. Take a deep breath. Find a place where you feel safe. Enjoy a treat for your troubles (tea, coffee, hot chocolate, a chocolate chip cookie) — and give yourself a break.”
Source: https://www.buzzfeed.com/keishaoblair/coping-with-financial-anxiety