Are you struggling to but the necessities to survive? You are not the only one. The inflation is causing hardships to buy necessities all around the world from every class of income, especially the low-moderate income class.
Lets start with, ‘What is inflation?’
In simple terms, inflation is a general increase in prices and fall in the purchasing value of money.
Inflation is a function of financial recovery. In the world now, it’s being pushed by way of a few overlapping elements ensuing from the Covid-19 pandemic: low interest charges, various rounds of direct deposits to each citizen and businesses, and pent-up purchaser demand that is being unleashed as everything reopens.
All of this has led to demand outpacing supply, inflicting shortages and fee spikes in classes of items which include semiconductor chips, used vehicles and housing, amongst others like the simple items including groceries!
Groceries
Some may wonder, how can I afford to buy groceries with the huge price increases? Meat, produce and even cooking oils are all more expensive than a year ago. As a low-moderate income family, we struggle too even BEFORE the Covid 19 pandemic.
Earlier this month, Food Banks Canada released data that suggests nearly one in four Canadians (23 per cent) are “eating less than they should” because of inflation.
Now there is ways to save money on groceries and number one in the list is a life saver for our family.
- Grow your own vegetables and/or harvest your own meat.
- Pay with a groceries rewards card
- Pay using a 0 fee bank that offers rewards such as Koho
- Use an app to upload groceries receipts such as: Checkout 51
- Use coupons and price match where you can.
Reduce Prices
Reduce your in store shopping by taking a look online. Sometimes buying items online can save you hundreds a month with the rise of cost of goods. Below are some suggestions of additional websites to shop from for home, garden, electronics, sports/outdoor, and more.
TomTom has a little of everything you can imagine all with great prices.
- Outdoor Closeouts – footwear, camping, fishing, home and more
- Kids Discover – educational, kids products
- Playon – similar to netflix with A 7 DAY FREE TRIAL