Tips to Help You Handle the Rising Cost of Living

Inflation in the United States remains at a 40-year high, and everyone is feeling the pinch because of it. People are paying more at the grocery store just to feed their family, and prices at the gas pumps continue to rise. As there is little to be done about these rising costs, as they are largely tied to the war in Europe, families have to figure out how to deal with the increased costs. Below, our Florida debt defense lawyer provides some tips on how to do just that.

Dealing with the Cost of Food

Over the past year, the cost of poultry, meat, eggs, and fish has risen by 14.3 percent. One of the best ways to deal with these rising costs is to invest in a chest freezer. The additional space will let you take even more advantage of these items when they go on sale, as you will have somewhere to store them. Keeping your pantry stocked can also make food more affordable as you always have beans, lentils, and vegetables on hand.

You may also be able to find food sales in unexpected places. More convenience stores and drug stores are offering fresh food options, and they are often cheaper than what grocery stores charge. When choosing a grocery store, warehouse clubs such as Costco typically offer better deals by allowing you to buy in bulk.

Dealing with the Cost of Fuel

Prices for gasoline dropped by 6.1 percent in April, but they are still 43.6 percent higher than the same time last year. The cost of fuel has largely been driven by supply chain bottlenecks and disruptions due to the war in Europe. According to AAA, gas prices have recently hit a record high of $4.40 per gallon. It is expected that gas prices will remain high during the summer driving season, but that they will start to drop by the end of the year.

There are many things you can do to reduce your fuel consumption and cut back on the price of gas. These include simple driving practices, such as removing any roof rack that could cause drag, driving evenly, and always following the speed limits. Many people have also decided to put off a road trip they were planning because they simply cannot afford the price of gas. It is useful to remember that different states will have different gas taxes. Before traveling to another state, check the difference in taxes between the two states and then fill in the one with the lowest.

Dealing with the Cost of Major Appliances

Despite the fact that the cost of major appliances dropped 0.8 percent in April, prices still remain 12.1 percent higher than in 2021 due to the supply chain and production slowdowns caused by the pandemic. There is still a major shortage of refrigerators, washing machines, and other major appliances, which is pushing up the cost.

Before shopping for a major appliance, first consider what you need versus what you would like. For example, choosing an appliance that has a stainless steel finish may cost less than a specialty finish because the latter finishes are not always readily available. As such, they will be more costly. Like with any other purchase, it is critical to shop around before you make your final decision. Consider researching prices at big box stores as well as independent retailers to determine where you will receive the best price and service.

Dealing with the Cost of Internet and Telephone Services

Telecom customers got a bit of a break early in the pandemic. The cost of wireless and telephone services only rose minimally, and some providers even gave customers a break by suspending data caps.

To keep the costs of these services down, start by looking for a cheaper cell phone plan. Internet providers often offer different wireless packages and yours may offer a discount if you bundle all of your services together. If your family is considered to be lower income, you may qualify for the federal Affordable Connectivity Program, which can help lower your monthly bills for the internet.

Streaming services such as Netflix are also increasing the cost of their services. However, by cutting the television cable cord, you can choose the streaming services that offer the programs you watch most and still save money.

Dealing with the Cost of Vehicles

The cost of new vehicles has soared by 13.2 percent over the last year due to the scarcity of computer chips, factory shutdowns, and even shortages of parts due to the pandemic. The cost of used vehicles has increased by, even more, a staggering 22.7 percent.

The only real way to offset the rising cost of vehicles is to research any vehicle you are considering very carefully and ask yourself what value you will get for the cost. You should also check out publications that are trusted within the industry, such as Auto Trader, to find a good deal on a vehicle that will work for you and your family.

Also, do not focus on bargaining for a discounted price, something that was once fairly standard practice on car dealership lots. Many dealership lots are empty or have only a few vehicles on them. As such, the purchaser has lost much of their bargaining power. It has also given car dealerships incentives to mark up vehicles even more. It is becoming more common for vehicles to be purchased well above the asking price. Instead of focusing on getting the lowest price for your vehicle, focus on getting a fair price.

Our Debt Defense Attorneys in Florida Can Help when Debt Becomes Too Much to Handle

Inflation has made it even harder for borrowers to get ahead, particularly when they are already struggling with debt. If your debt has become too much to handle and you cannot repay it, our Florida debt defense attorneys at Loan Lawyers can help. We can defend against lawsuits filed by creditors and debt collection agencies, and advise you of your other legal options. Call us now at (954) 523-4357 or contact us online to schedule a free consultation.