Top 10 ways to fight inflation by buying what you need at the right time

March 3, 2023
Top 10 ways to fight inflation by buying what you need at the right time

Inflation can be a challenging time, with skyrocketing prices on everything from the housing market to groceries. We definitely understand how tough it can get, trust me. However, there are a few ways you can still buy everything you need, given a little bit of extra work.

We’ve compiled 10 of the best way to get around inflation and make sure you don’t need to stretch your budget.

1. Use price comparison sites:

These days, technology will be your best friend. With Google at your fingertips, it’s become a lot easier to shop around for your favourite products instead of going in-store to check out all the prices. Price comparison websites are a great way to instantly find the best deals on what you need, with the platforms often showing you multiple options to choose from.

The Fetchie app does a very similar thing, but without the threat of third-party sites stalking you on other websites. Simply continue your online shopping, and when you find something, you love, simply save it to the Fetchie app. Whenever there’s a price drop, Fetchie will notify you – saving you time and money!

You might be interested in Stop wasting your free time shopping for the best deals. Use a price alert app.

2. Join reward or loyalty programs:

It’s true, to get rewards from loyalty programs you do have to spend a bit of money. However, that doesn’t take away from the fact that you’ll be able to receive a few household essentials such as a dinner set, or discounted food just by spending money for groceries.

Moreover, these programs often offer member exclusive discounts, coupons, and specials that are not available to others. This’ll give you an extra edge to get around those creeping prices. Some of the most popular and highly rated programs in Australia include the CBA Awards Credit Cards, the Priceline Sister Club, Woolworths Everyday Rewards, and Starbucks.

3. Shop around:

Price comparison sites aren’t for everyone – some people simply enjoy the experience of physically seeing and trying what they want to buy before making a decision, and others are not too keen on being bombarded with ads and other products on those comparison sites. If that sounds like you, it’s important to be more judicious while shopping.

Let’s say you find a mug that you really like at a boutique store, but the price is throwing you off a little. It’s a nice mug, but is it really worth $30+? Follow that gut instinct and shop around at other stores to find a similar mug at a lower price point, or maybe you’ll find an entirely different mug that you love, and it’s only $10! What a steal!

4. Buy in bulk:

Bulk buying helps people save money in many ways whilst also contributing to a more sustainable and efficient household. At time, many retailers offer volume discounts for bulk purchases. So, yes, although it seems as though you are spending a lot of money by buying things all at once, these discounts combined with ever increasing prices will actually help you save money in the long run.

Buying in bulk can also lead to reduced transportation costs. Since products will be stockpiled, you won’t need to constantly go out for more food or toiletries – thus saving money on petrol! Who doesn’t love that?

5. Invest in quality instead of quantity

Most people are quite hesitant toward this, particularly those in younger generations. In a world where everything is so much faster; faster trends, faster delivery, faster turnarounds, it’s easy to get caught up into the cycle of buying cheaply made things, only to have them thrown out a few months later and then again continuing to buy those same cheaply made items.

Instead of this, we would suggest in investing in higher-quality goods that will last longer. That way, you end up saving a lot more money than you’d expect in the long-term rather than continuously repurchasing.

6. Keep track of your expenses:

Although it seems obvious, it ‘s now more important than ever to start tracking everything you pay for, even that $5 coffee. What a lot of people start to notice is that those small, scattered purchases throughout the day such as that daily coffee, buying out lunch, and public transport expenses are what prevent people from saving as much as they would like to.

By making note of these expenses through spreadsheet or writing in your notes, you’ll be able to figure out what you need to cut down on, or how to replace the $20 processed lunch with a fresh, home-cooked meal.

You might be interested in Ways to Save Money with a Personal Budget

7. Plan your meals and/or expenses ahead:

According to the Queensland government, Australian households waste approximately 2.5 million tonnes of food each year. To better visualise this, that’s around 4kg of waste per household per week.

Considering that groceries have risen by almost 10% in one year, meal prepping is a great way to save money on groceries and contribute less to food wastage. Meal prepping allows you to plan and purchase the ingredients you need in advance, which can help you avoid overspending and reduce the chances of impulse spending.

8. Ask for discounts:

Yes, some people might be intimidated to do this, but there’s never any shame in just asking. You never know, you could land yourself 20% off the original price – you only miss the shots that you don’t take. That being said, it’s important to have some negotiation skills up in the bank if you’re really not keen on paying full price for something. Always be polite, and remember to do your research on what you’re buying.

Even better, if a store does price matching and you happen to find the same product at a different store for a cheaper price, you can ask for a discount to beat the competitor!

9. Track seasonal price changes:

We all know everything from clothes, fruits, and more come in and out depending on the season – which can also change its price. For example, a hoodie is generally going to be discounted during the summertime because nobody wants to buy it. It’s summer, why not start buying clothes for the hotter days?

However, this is a great way to start planning out when to buy your seasonal necessities so that you’re not hit with a 40% price increase when you need it most. Use price tracking tools such as Fetchie to track the historical data of all products on any site, so you can accurately predict when the next price drop will be.

You might need The Top Five Price Tracking Apps and Tools

10. Look for generic or store brands:

Look, sometimes it’s not the be all end all if you don’t buy the expensive, organic version of a common food. A lot of the time, the generic brands produce quality items at a much cheaper price. Many store brand products are produced by the same manufacturer that produce name brand products, but they are sold under the store’s own label. This allows retailers to offer products at a lower price point than the name-brand products. In fact, some store brand products are made with the same ingredients and to the same standard as name brand products.

It's important to note that Inflation is a complex phenomenon that can change over time, so it's always important to stay informed and adapt to the changes. To truly buy what you want during this difficult period, its always important to be conscious of your spending habits and take the extra step to make sure you’re not paying more than what you can afford.

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