Why, Where and How
With inflation soaring we need to find various ways to save. Why not get the best prices and even save thousands! Buying at the “right time” matters. Discount cards, buying club memberships, coupons, special sales or clearance sales are all worth taking advantage of during times of rising inflation.
If you believe you can predict the future then reading this article will have little to no significance to you. However, the Tipster knows one thing’s for certain: “The only way to keep up with inflation is to be prepared for whatever comes next.”
Over 40 Million Americans are living in poverty or simply one crisis away from adding to that number. Older adults make up the greatest population in crisis. Often, they can be overlooked by family and friends due to foolish pride and even concealment of their situation.
Help and Support
Those with the means should truly be looking to aid those in need. For older Americans many public and private foundations have been established through the years to offer monetary, informational and physical support.
For one, the AARP Foundation has been aiding and supporting a future without senior poverty for decades. In 2022, the AARP Foundation helped nearly 2 million older American save millions in taxes with critical and completely “FREE” volunteer-based tax preparation. This service was responsible for helping low income seniors secure nearly 1 billion in tax refunds and credits.
AARP’s “Tax-Aide” program was established in 1968 and has expanded through the decades with contributions from those with concern and the ultimate consideration to volunteer their services.
A second AARP program, begun fives years ago, is now helping more than 9 million Americans see if they qualify for property tax relief.
You can learn how you can help or find out if you qualify for a property tax refund at: aarpfoundation.org/thrive and aarpfoundation.org/propertytaxaide
Spending wisely
Have you ever tried dining at an “All you can eat” buffet? If so, did you enjoy it? Would you be inclined to do this more often or decline based on the food quality or a possible tendency to over indulge. What about considering eating family style or all inclusive verses ala carte.
Those who carefully manage their budget could save money when spending it wisely. Various price shopping clubs are inexpensive and memberships can lead to huge savings for larger families. Some clubs require buying in bulk so managing what and when you buy certain necessities can be critical to maximize savings. Perishables may be the hardest items to manage properly.
Staying financially healthy
During times of inflationary difficulties the hardest thing to do is tighten your spending when you’ve always been a giver to family and friends. Reining in the giving is so much more beneficial then it is imaginable.
Decisions like stop paying for a storage facility housing furnishings you haven’t used for years, or that no one can benefit from currently can yield benefits unthought about. Holding back the purchase of luxury items can be extremely helpful. Avoid panic about investments and retirement portfolios. Staying the course is often the best advice anyone can give. Do not skip or skimp on your health, mental and physical needs. Preventive medical care is quite often free or low cost and can save fortunes by catching possible problems before they ever occur. Picking up a paint brush, washing your car in your driveway and racking leaves on your lawn all can add monetary benefits that truly matter.
Spending on autopilot can be very costly and checking those auto debits during times of tremendous inflation can save hundreds of dollars. Keeping tabs on subscriptions can be easier than you think. Free apps such as “PocketGuard” and “Rocket Money” are offered through various banks and credit cards such as Chase and Capital One. They find things you might have forgotten about.
One of the more difficult things to do might be guarding against impulse buying. Even though the price of that leather jacket has been reduced, it might just be unnecessary and worth passing up right now!
Finally, protecting what you have is most critical here and now; and, it will always be regardless of the inflationary future. During times of need and monetary stress scammers devise damaging cleverly refined schemes to appropriate funds from unaware victims. There are various anti-fraud websites as well as state and federal programs helping people spot and avoid scams.
Fraud can look like an unsolicited call claiming you owe or are due money. A pop up message on your computer warning of a detected virus. Notification of a prize you won that has a minor shipping fee to claim it. An email or text message offering a huge discount on something you’ve been searching the web to find.
Remember, all you can do to protect yourself and your family may be to stop and think before acting upon anything.
Reporting possible fraud to your state and local law enforcement agencies can help prevent others from being victimized.
Practical wisdom
With age comes wisdom. Whoever coined the phrase was spot on. With that being said, during times of troubling inflation buying essentials is important and doing some homework to find the best way to do that is undoubtedly significant.
Just remember, patience and steadfast discipline will get you to the other side of trouble every time.
