TYLER, Texas (KETK) – Stimulus checks, labor shortages, and supply chain issues all factor into the higher prices we are seeing now, but there are things you can do to help save money.
Consumer demand continues to rebound and many people are eager to spend, but some are struggling to make ends meet.
Inflation causes your buying power to decrease; ,meaning that the same dollar today buys less later.
Financial experts said that being aware of where you stand financially is the first step in overcoming inflation.
“”Those who are typically hurt the most during inflation are savers. Those are people on a fixed income. If you’re living off the interest you’re earning on the deposit you have at the bank and you’re earning a low rate of interest, and things are going up in cost.”Jay Oliver, Financial Advisor of Rose Point Capital Advisors
With inflation taking a toll on people’s wallets, East Texans are hurting. Many are trying to make ends meet while also paying off debt.
“I’d probably lose a lot of weight because I wouldn’t eat. That’s my main expense is food because that’s the only thing that I pay for basically,” explained Lori Stinson, the co-owner of Uptown Cheapskate Exchange.
By knowing where you are spending your money can help you better plan your budget and save for emergency expenses. Luckily, there are a few ways East Texans can start saving money now.
Along with mobile app saving and coupons, Uptown Cheapskate Exchange in Tyler says they’ve been getting many customers looking for budget clothing since prices are climbing so fast.
“I get a lot of kids my age coming in just looking for a good deal because they don’t want to have to pay $150 for a pair of jeans anymore when trends are changing so quickly- resale is the best place to go,” said Jacey Mallory, the manager of Uptown Cheapskate Exchange.
Being a thoughtful consumer, planning a budget accordingly, and staying aware of inflation can help ease financial stress for both you and your family.
There are several apps that can help you either save money or make cash back on the money you are already spending. Below are some of the resources you can use.
IN-STORE SHOPPING SAVINGS
There are a few things that you can do to save money while shopping in-store. FIrst option is printing off coupons or looking for coupons on your mobile device.
Some coupons can be found in weekly newspaper ads or regular weekly mailings. Other coupons can be found by printing them from online sources, such as: Coupons.com.
Most major retailers will accept printed or manufacturer coupons.
Target even has their own app for in-store savings called Cartwheel.
CASH BACK OPTIONS
There are also several apps that you can scan your receipts and earn cash back or earn points to obtain gift cards like PayPal, Walmart, Visa, and more.
ONLINE SHOPPING SAVINGS
For those who shop online, Honey is a great way to save while you shop. While shopping online Honey helps find coupons to use at checkout.
You can also use RetailMeNot when you shop online. It is a browser extension that you can find coupon codes that you can apply at checkout so you can save money. They also have coupons if you’re shopping in-store.
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