Managing the Insane Costs
I've been noodling and drafting this post for a while. As I haven't posted for a few days as a bit of an accident has me slow, I'm just doing a quick edit before hitting publish.
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| Photo from Pexels.com |
The ripple effect of the Iran war, high gas prices, lingering tariff BS, is hitting in just about every expense American's have. I'm sorry to my international friends that you're caught in this as well. We all know, with the exception of gas, once prices on consumables go up, they do not go down. I love how stores market "new lower prices" by cherry picking a few items as loss leaders, hoping folks don't get too frustrated overall. Humans need food, clean water, gas to get to work or school/public transport options, and dare I say the occasional indulgence to feel like we're living not just surviving.
My family is not hurting too much. Our needs are covered and we're enjoying things in our free time. However, knowing there's soon to be an additional household in the family, while not mine, gives pause before spending where I normally might not hesitate. I'm reading more thrift blogs, articles on side hustles, and non-consumerism to glean ideas to use or adapt for us. If nothing else, it's commaraderie that as humans, we're in this economy together. I won't rehash as I already recap my fiscal wellness checks on Fridays.
My biggest reduction the last month has been in meals out. In April, I had a group dinner, a happy hour, and I treated my son to a slice (huge-I took 1/2 home) of pizza lunch at Cosetta's when we were in St Paul for the walk through of the condo inspection. I can’t think of other meals out. I brought a cake made with pantry/ freezer food and bought a 6 pack of Blue Moon for Derby Day. My SIl likes that brand too so glad to buy. She's figuring out things financially after my brother passed away and one income source was reduced, another impact when you lose a spouse. I'm using cash for my entertainment so I can see what I've really spent. I plan to keep doing this and when I use a card, set what was spent aside to go towards the balance and keep myself disciplined.
Clothing is another area that I'm pausing for now. I have plenty, and while not the most stylish, they'll do me fine. I don't have any weddings or other dress up events this summer and for the outings I can think of, my closet will be acceptable.
I see more posts on the community pages asking about the food banks as paychecks aren't stretching far enough. Summer will be here soon and while it feels a bit more affordable not heating homes and limiting AC, kids are home that used to get school lunches in Minnesota. I'm trying to set a few more dollars aside to do an additional donation to our local food bank by the end of the month. Sadly resouces like Fair Share and Ruby's Pantry have stopped providing low cost food shares that really helped families and individuals on the margin stretch their budgets.
If you or someone you know are struggling and some relief on groceries might help, in Minnesota you can dial 211 to find local resources. Nationally, there is a USDA Hunger line at 1-866-348-6479. Feel free to share resources you're aware of in your country for anyone reading. While not straight cash, a bit of help might free up funds to go towards other bills.
I'd like to do a call in the comments for any new to you strategies that you've tried with success or adopted as part of life. Please and thank you in advance. We are truly in this together so my focus will be on giving, helping, and sharing where I can, appreciating the simplicity and privileges in my life.
My group of friends is car pooling, even for events “in town” (we have to drive 12 miles to get there.) Granted, I hate to drive, (and am pretty bad at it) so I always advocated for this. If we have to head somewhere off the freeway, we meet in town, and take one car for the rest of the trip. The last event, I drove to pick up another woman on the island and we drove together to the meeting point. This is a person I don’t generally speak to socially, so when she called and asked for a ride to the meeting point I said yes immediately because what I do know of her, I sensed she was concerned about fuel costs. We took my fully fueled car (friend drove). Once there both offered to buy me a drink, but it was a teetotaling night for me. Next time we will use someone else’s vehicle. This has been the norm for years in my crowd as we are all the type who can’t stand seeing multiple vehicles going from the same place to the same place. But now, I see it happening in other circles.
ReplyDeleteOn a smaller scale, we have decided things like we are not purchasing any new plants for the perennial gardens. If we want a change, we will divide those we have. Summer has been declared low spend, August has already been labeled no spend.
Like you, I am fairly secure, but I want to impress upon my family that these are troubling times, and that the best way to keep ourselves safe is to keep our costs low.
-Meg B.
Car pooling and reducing optional purchases seems to be the new norm for most of us. Your group is practical.
DeleteI don't mind my clothes if they are considered out of style either, as I wear what I like and think looks good on me. We've stopped buying as many groceries as we have in the past and don't always stock up like I once did, but also that happens to be a result of the stores no longer carrying the inventory they once did, We've noticed on some of our favorites that we do stock up on there are not even ten of the product on the shelf. I've stopped cooking as many items for dinner. I used to make three items for dinner, but now that is down to two, with a protein and a vegetable. I don't always include a starch which helps my wallet and waistline and also my blood sugar. I'm with you though, we are all in this together and can glean information from one another to get through these hard times.
ReplyDeleteMy carb intake is much higher than it should be so nay follow your example. I just gave no need for new clothes right now so seems an easy thing to pass on buying.
DeleteBelinda,
DeleteI too have noticed the lower inventories in the supermarket in town.(Kroger family of stores.) Moreover, I also noticed it in late April when Daughter and I swung by the Walmart in the “big city” 30 miles north after she had an appointment. (Yea, we went to Walmart. If we are making that drive, we are bundling stops, even in the best of times, and Walmart has things that Costco doesn’t like the only bath soap that won’t irritate our skin for less than half of what it is in the local store.)
-Meg B.
Exactly Meg! Kroger is one of them we’ve really noticed this more than anywhere else. Walmart has been the same way for a while now too.
DeleteBelinda
Well I just found out that my husband has a job until August, after that who knows as his company is laying off people left and right. Health insurance is my biggest concern. We are debt free for which I am thankful. I'm planting more garden this year, so hopefully have fresh veggies. Will be saving money any way that I can, doing more side hustles etc. I am just so disgusted with our government right now, and I think they have skewed the figures to make things appear better than they really are...
ReplyDeleteIm so sorry Kathy. Health insurance is ridiculous on open market and COBRA often while available, is so expensive. Disgusted is my feelings as well.He and everyone that works in his administration are lying P'sOS.
Delete"Our needs are covered"—I am grateful to read that. Ours are too, and I am very grateful for that. That being said, I am watching what we spend, making sure don't let food spoil, and emptying tings from the freezer (last year's produce, for example). We (the community "we") are seeing more and more needs arising, especially in the food arena. Example? I make hot shredded turkey sandwiches "to go" for our monthly family law clinic that serves lower-income clients. Others, former colleagues of mine, are making cookies and such and bringing them too. Clients and volunteers are encouraged to grab some food; we don't hesitate to say "take some extra!" The May Clinic was the first time that there was NO food left over. Ever.
ReplyDeleteI don't take it fir granted that we gave needs met, but it still stings to fill a gas tank, check out after buying a few groceries, and paying utility bills. What are kind thing you're doing and understand why thetes no leftovers. I'm hearing little free grocery boxes are pretty much depleted within hours of filling.
DeleteThe effect of closing the strait of hormuz is much worse for us in the Asia Pac region than it is in the USA. I am retired and on a fixed income and have noticed prices go up dramatically. I can cope, my needs are covered too, and I am grateful for what I have. It just means cutting back on small luxuries, but I feel for people who are really struggling.
ReplyDeleteI see several years old Eat Well for Less from Australia and already knew that the cost of living is higher in Australia. I can't imagine how hard the prices are hitting you all.
DeleteBeing retired - I don't go a lot at all, so not spending a lot on gas. I have my basic utilities and insurances, and all is good there. I use my pantry and my freezer a lot and keep it stocked with ingredients, that can become anything. I am growing a garden as usual. I am very thankful for what I have.
ReplyDeleteUnfortunately not everyone is as fortunate as you or I. I feel for them. My kids need gas to get to work and I really eating their cash, but they're making other choices to economuze and none have children.
DeleteOh Sam, I hear you loud and clear, and it concerns me, but like Cheryl, my needs are covered and I do not fret. I worry for the younger generation. Again, Sissy and I lived through the 1980 recession, and no one could get a job in the Pacific Northwest for 10 years that paid anything. Gas doubled, bread doubled, everything doubled and we made it, but it was ugly! This is what made me frugal in my own way. Hang in there. We love you! Not Bossy!
ReplyDeleteYes, the younger generation, even those that do a good job economizing, are stretched. I can see why a generation is frustrated and flippant comments that degrade their reality do not help as heard in the media. Your family is such a good example of pulling together for collective good.
DeleteThank you bossy for also putting some perspective into today’s issues. I really don’t want this to seem like an old lady’s “well back in the day” because there are factually historical events, periods where generations have had to dig deep and get through. Everyone should watch the old movie Country with I think Sam Shepard. We lived it. We are Midwest Minnesota farmers and went through pure hell in 70-80’s. And it’s not looking good for the next several years (and very tough past 2). Fuel, fertilizer, lack of finding people willing to work (and no it’s not a wage issue it’s not wanting work that’s hard, long hours, weekends… etc. ) and commodity prices. To name a few. The years where jobs in forestry, steel, coal, auto builder, (the ford plant was huge in Minnesota) and I’m from east St. Paul where generations worked at Whirlpool, amazing wages pensions etc but (moved over seas) and all those unemployed because of this. Like it was said 10 years not being able to find jobs. I’m not at all sure if it was government contributed or not but certainly a lot of jobs were lost by regulatory and environmental changes. Not saying they weren’t indicated. So yes I feel for the younger generation but … (and I have 16 direct family members age 20-48(kids and grandkids). So we will try and keep supporting each other and our community. If you’re in your 70’s this is not your first rodeo.
DeleteOf course, theres been awful periods of time and I'm old enough to have experienced the farm crisis, the plants laying off huge numbers of workers. I do feel things are just as bed, similar to past economic hard periods, but with unique things for today that make things different for the current generation starting careers and families. Health care and housing, two areas that have exploded in costs to income. I'm curious what wages are for the jobs not getting filled. Maybe it is fear of hard work, but I can also understand not wanting to to work crap hours for mediocre pay and benefits for someone elses wealth or property and getting old before their age.
DeleteI'm hanging out at home a lot more, eating out only occasionally when friends nag me. I prefer to invite them over if they're willing, as I'm not a bad (tho not fabulous) cook! I'm meeting all necessary expenses on my pension, thank goodness for that, so delaying social security. But wondering if I should take it and save that. I need a new roof, but at least the house is paid for. I feel bad for families and elderly on fixed income. Groceries are horribly expensive now. Local food pantry is stretched thin, but still helping a lot.
ReplyDeleteMy roof is likely near the end of its life too...hoping for at least another 3-5 years, but then that has other tradeoffs. I did take my husband's/survivor social security when I turned 60. Not sure how the next decade will go, but hoping mine is intact and I can switch to a higher payment after 70. I'm not drawing yet on my pension either, but hates how reliant I' m already on my IRA. But, Im preparing for a tight 5-6 years and focusing on basics and my family.
DeleteWe are closing in on the home stretch, so definitely keeping track of our spending & ensuring we really have enough for our retirement. Additionally, we are focused on helping my family, my special needs aunt, and we are getting ready to deploy some of our donor advised fund to a local food bank that has been running short. I'm excited to be able to help out more in my community when I have additional time, likely at a food bank, but open to other ideas.
ReplyDeleteAnother thing that strikes me is how hard it is for college students (almost no internships right now, as companies cut back) & for folks looking for their first jobs, it's so competitive! One of my other goals is to help out with mentoring & advice for college students &/or folks looking to pivot to their first jobs. It's really difficult out their for young people. We are lucky to be able to afford to help our kids, but they know many people who are getting no help from parents, because there's just no flex in the budget. - Hawaii Planner
I probably do weekly Life Admin meetings with myself and a calculator, ensuring I'm not missing anything that will hurt my finances since I'm relying on my retirement funds and SS. I also don't want to waste the guft of time ( injury aside) to invest energy in home and yard, travel, and hang out with family and friends. My kids are fortunate now to nit have education debt, but it's crippling some of their friends as the job market is very tough.
DeleteBethC.
ReplyDeleteSorry-I’m tired and screwed up my initial comment. After years of stocking up whenever I came across great loss leaders, I have stopped that practice. We accumulated lots of frozen food and I have been amazed at what a little freezer spelunking can do. We used to buy lobster as a dinner treat instead of going out and would often buy an extra lobster. We would cook the extra one and freeze the lobster meat. The other day, I was able to unearth a package of lobster and made lobster Mac and cheese, all with ingredients we had on hand. It was delicious! I’ve made it my mission to identify recipes which use things which we have on hand. I also got free seeds from our library-spinach and herbs have been planted and I plan to plant tomato, lettuce, zucchini, summer squash, winter squash and beets in the next week. I don’t trust that any of the current awfulness is going to change anytime soon.
DeleteGift giving will be modest the next year. Meals will be made with basics and few splurge ingredients, but I'll invest in time learning more flavor profiles and hiw to make ordinary special. I sure hope to take advantage of some home grown food and farmers market finds and stock up when price is right in the stores.
DeleteOh dear, I hope you're feeling better and are able to move around a bit more freely after your accident.
ReplyDeleteYes, like you, we're managing although the price of fuel and LPG gas with the orange one's vanity project has us concerned about the festival season. A small bonus is that uncertainity over the Middle East has led to a drop in prople booking holidays so we've taken advantage of the airlines slashing their prices. xxx
I feel pretty lousy unless sitting upright and still-nit very practical. I'll heal but it's going to take time. That's great you found good prices to travel. I was planning on a lot of day trip wanders with pup, but might just figure out more local exploring.
DeleteI am fortunate as my CSA of 7 months was paid fully in December and the harvest is HUGE! There will be no veggie buying until at least December as I will start freezing excess this weekend. I haven't gone through last week's and today is pickup #2. Sadly, our farmers costs have skyrocketed in fuel alone-I talked to Clay 2 weeks ago and he is worried.
ReplyDeleteThank you for the reminder that families food costs are about to spike! I need to step up donation to the Foodbank for their summer program (having no children, I don't think about those realities).
I have nothing new to offer. Hugs to you all!
CSAs if available are great resources to stretch budgets fir great quality produce. Im seeing tractors on the road, in the field by my house and know they have to be hurting with the cost of fuel.
DeleteWe are retired but go out a lot less than I expected to when we first stopped working. I love a coffee and a cake in a cafe but that’s a very occasional treat now…….we manage to make a decent coffee at home and I do bake so it’s not a real hardship. I’ve mentioned cutting back on gifting here before…….and like others above I very rarely buy clothes, t shirts that last summer I thought might not do another year have been held onto and will last another season.
ReplyDeleteHope you are ok post the fall/accident
Alison in Devon x
Whats that non-consumerism motto, "Use it Up, Wear it Out,Make Do, or Do without"...I think it's working it's way into most people's life in some manner, even if small. I love having a coffee with friends and can buy a wonderful blend to make at home for many pots forvthe cost of just one meetup out. I'm sitting pretty upright as any other position is uncomfortable. I hope the next few days shows some progress with pain management.
DeleteI've just been doing lass driving, eating out, and grocery shopping. I was doing too much of all of that anyway. And I will stop buying books, except those I find in thrift stores, and just go back to using my library card. Hoping you are on the mend!!
ReplyDeleteSilly me just had my daughter get me the lobby app and connection to use on my kindle too. I am nit up to date on apps, but theres sone great resources like the library access. I feel pretty lousy but hope I start feeling better even though I know it's a slow mend.
DeleteWe save as much as we can so we can travel. However it is getting harder for me to move around due to back and hip pain, so our travel overseas will probably be done after this trip. We could however spend more time visiting places in our province as well as the neighbouring ones.
ReplyDeleteDoing less driving, our electric rate went up 3.9% this year, so I am making sure lights are turned off and using more appliances for cooking.
God bless.
Im on a travel pause due to my dog, both the expense of his new meds and schedule to give them. I had hoped to do a lot of day trips or even overnight at dog friendly places. Both gas and I'm pretty sure he's practically blind will limit this. Still, im hoping once Im feeling good again, to fill my calendar with friends and family. I hope your trip is incredible.
DeleteI'm definitely rethinking a lot of spending. Even on food choices at the store, I have a limit on what I will pay for certain things, and if prices go above that I just choose another food option. Gas prices have us rethinking our days out too. Thankfully, the lodging for trips this year were booked and paid for before this insane stuff started. We do have to pay for gas to get to certain places, but that just means doing less in the meantime.
ReplyDeleteIm really hoping I have so ecsuccess with growing some produce- anything will help. I figure Im spending about $50 in plants, seeds, and soil. But, the kadt bag of lettuce greens was nearing $3, a pepper $1.49, so any success should recoup costs, and yield something more. I too will change meals based on the prices. More ground pork and turkey rather than ground beef which us over $7 a pound now, more meatless meals.
DeleteI feel sad for folks trying to make ends meet. Thems in charge are so out of touch. Indeed the top one recently boasted he doesn't think about the US Citizen's welfare.
ReplyDeleteWe truly are nothing to him. He doesnt even try and pretend.
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