How to fight inflation with real tips from real people
Inflation is when the difference in monthly bills of goods and services increases. Investopedia defines it as “a sustained increase in the general level of prices for goods and services”. And now, inflation has hit highs of nearly 9%, but this doesn’t mean you need to sacrifice the things you enjoy the most. The good news is you can keep your favourite luxuries with a few of the tips, and money hacks from people just like you – our LifePoints community.
LifePoints is one of the world’s largest survey and market research companies. We have a huge global community of people earning gift cards and rewards for sharing their opinions about products and brands with us.
We recently reached out to our community on social media for their best tips beating inflation. The community members delivered, giving over 200 hints and tricks to beat inflation, including:
- Buying in bulk
- Planning ahead
- Ways to save on food
- How to find the best deals
This article will cover some of the most important ideas but look out for more articles coming soon. Over the next few months, LifePoints will be sharing more ideas from our community on how you can plan your budgets, how to buy in bulk, and how to save money on food, all of which will help you beat inflation.
Fight inflation by saving on your food bill
Have you been paying more on food recently? LifePoints community members have too and have shared some of their favourite ways that you can reduce your food bill.
Cook at home
One of the most popular ways from LifePoints members to reduce your food bill is to cook more food at home. Not only will you save some money to fight inflation, but you can also get some health benefits. Priya, a LifePoints member on Facebook explains: “Cut down on online food delivery and enjoy home cooked healthy food.”
Make a meal plan
There are other ways you can cut down on food costs if you don’t want to cook at home. One of these options is to plan more ahead of time. If you plan your meals, you can find and use sales. Christine does this herself and to save money: “Plan ahead a week’s worth of meals a use as many coupons and find the best price for items.”
Grow your own
You can even get free food by growing fruits and vegetables yourself. Cecile describes how she grows her own veggies: “I planted vegetables in my garden. Get something free instead of buying.” Not only will you be able to save money on something you already eat, but you’ll also be able to learn something new and have some fun.
How to beat inflation by buying in bulk
Buying in bulk is a great way to save money and fight inflation, and it’s easier than you think. You have a few options to choose from when you buy in bulk, and you can buy whatever you want or need. Shops like eBay or Amazon are both great starting points, and Costco is opening stores in India. You can also check with your local supermarket to see if have any bulk options available.
At some places like Costco, you’ll need a membership, which can cost money, but the savings will be worth it. save on nearly everything you buy. You can also combine buying in bulk with other tips like using coupons or finding deals to save even more money.
Mini from our Facebook post suggests buying bulk to save money on essentials: “I bulk buy on items which we use more often”. This is a great idea for dry goods that you buy frequently such as shampoo and bin bags, so why not buy them in bulk to help you beat inflation?
Beat inflation by spending less money
It might sound simple but the best way to beat inflation is to spend less money. If you look at what you’re spending on and focus on the essential things, you can often find savings in areas you wouldn’t expect. Odrareg explains how they do this: “Avoid unnecessary shopping. stick to basic needs.”
Look for specials and deals
Spending less doesn’t always mean not buying something you want as you can often deals. Kim sums it up well explaining: “I just go for what is cheaper and look out for specials”. This is a great way to spend less money and not sacrifice the things you enjoy the most.
Earn money on the side
If you don’t want to spend any less, why not earn a little extra on the side? There are a lot of side hustles to try but earning cash and gift cards by taking our LifePoints surveys will always be one of the easiest and quickest ways to earn extra money. You can take our surveys anywhere you want and, on any device, including the LifePoints app. You can earn your money fast and even have your opinion heard on some of the most important products and brands that you use every day.
Check out our LifePoints rewards page for all the benefits and money you can earn. And to find out what other LifePoints members say about how easy it is to take our surveys, see their reviews and testimonials.
Using a plan and budget will help you with inflation even more
Planning and keeping track of your spending can help you even more as inflation rises. Once you see how much you spend on different things, you can get more of a perspective and find areas to save money. Tracking what you spend will also allow you to see if you are spending more than normal on something e.g., one month you might be spending more on clothes without realising it.
You have a few options to plan and track your spending. You could use a something simple like an excel sheet to track how much you spend and earn. Or if you want something techier and sleek you could use Good Budget, which you can use on their app or on desktop. So there you go, as long as you track your spending using the best way that fits your style, you’ll be able stay ahead of inflation worries.
You’re now ready to better fight inflation
With the tips from the LifePoints community you’re now equipped with a range of ways to fight inflation. Whether you buy in bulk, budget more, save on your food bill or do a combination of whatever fits your style, you’re sure to find these hints and tips helpful.
There are over 200 ideas and money hacks shared by our members on Facebook and Twitter. Follow along to see the full collection of tips or share your own hints and lifehacks. Check our LifePoints articles for more details on the ideas, hints, and hacks to fight inflation.
Join LifePoints today
With LifePoints you can earn points that you can exchange for gift cards and rewards. Sign up to LifePoints today and you can get 10 free points to get you started!