Have you made any Strategies to cope with the Rising Prices!!!

Prices soaring high. - How do you save money? Is there a strategy made for your household to curb the rising prices?
India
June 26, 2008 8:07am CST
We all likely have heard of the little ways to save money a million time. I guess this is the time we need to implement it, with the prices soaring sky high. Knowingly or unknowingly we all must have started to use ways in which we can save little by little. Well for me, i have tried to stop spending on things that are not necessary. Like whenever i go out i am tempted to buy clothes for my son and me and something for my husband. I have stopped going to stores which offer discounts,unitl and unless i really need something from there. And if i do go to discounted stores i make a list of things that i need and stick to it. because what usually happens is, i see a good discount a nd i buy that item but it is not need at my house at time. So i end up wasting money for no specific use. A startegy for your household is very necessary to fight back the soaring prices. Have you made any kind of stratgy to beat the rising prices??
18 responses
• India
26 Jun 08
i also am trying to save as much as possible because the prices are raising and i even stopped spending money in the evening when i am with my friends which i love doing(when we are out in the evening we usually spend a lot).
• India
9 Jul 08
thanks for your advice i will remember it.
• India
9 Jul 08
When i was younger, it was quiet a difficult task for me to save money as even i used to blow out my money with friends. But as i grew older, i now understand the value of money and try to save in every possible way. I wouldnt ask you to stop spending and sit at home but enjoy with your friends, pool in money, dont behave like a rich guy and pay everything on your own!! Coz these are the memories that you would cherish later on in life. Have fun. njoy!
• India
26 Jun 08
Rising prices are the main problem these days. This problem affects every one from upper class to lower class standards of living of people. And its very affected to the middle class people. This problem has to solved soon. Yes I made a strategy with these rising prices and hoping this will make me a very successful person.
• India
9 Jul 08
It is a very wise thing to strategize when this is the condition of the economy. Rise in prices affect everything in turn, salary has to increase to balance out the increase in the market (which usually does not happen!!), consumption goes down due to high price, entertainment market goes down due to the increase in the price, every thing goes hand in hand. Its like a chain reaction, one thing leads to the other.
@dragon54u (31634)
• United States
26 Jun 08
I have always, all my life, looked for ways to save money so I'm not doing anything differently, really. I have cut back further on what I spend and try to buy things the store has marked way down. Your prices are rising in your country, too? Is the food getting really high? With all our crop disasters here in the U.S., food is getting very expensive.
• India
9 Jul 08
Yes prices are rising here too, it has become impossible for people with lower bracket of income to survive. Everything from fuel to household stuff has got the price touching sky high. We are curently facing inflation as to balance that the prices of everything has been increased. I too have started to cut down on my shopping spree, started sticking to the list made, buying things in bulk for the month which sometimes fails :) so we go out on any saturday to do the remaining shopping. For certain items i go to stores which sell them at a cheaper rate than what is printed on the package.
@jonesy123 (3948)
• United States
26 Jun 08
Less driving by combining more errants in a trip. No more trip to the grocery store because an ingredient is missing. Tough, we cook something else. Eating out only for very special occasions. Less clothes and more second hand especially for the kids. My youngest outgrows his so fast, lol. More free activities. I didn't know the wealth of activities the kids can do in the near vacinity, lol. And yes, sticking to the list at the store, no more extras. Less box items and more making things from scratch. Studying the store flyers and building your menu around the sales items....There is a lot of things that can be done to get by. I learned a lot from my parents who grew up during WWII. You can do without or even make it yourself. We also looked at our insurances. Our car insurance for example was way too high for the value of our cars. We increased the deductible. One of our cars is worth less than the original deductible, lol. That saved us about $400/year. Have your house reappraised for tax and insurance purposes. With values dropping left and right, there may be some savings there. There is a lot of wastefulness that can be cut away before it really starts to hurt. You just have to examine your lifestyle and spending habits...
• India
9 Jul 08
You are very right when you say that a lot of wastefulness can be cut away from our lives and that could inturn help us save quiet a bit of money. It has actually become very necessary for us to review our spending habits. I have got into this habit of comparing price as well as quantity before buying a product. Most often what happens with the reduction in price is the quantity is also reduced at times but we fail to notice it because the size of the packet is the same! So you have done quiet a bit to save on more cash, it is always nice to save now than regret spending later.
@spalladino (17891)
• United States
26 Jun 08
We've upped the setting on the air conditioner so it doesn't kick on as often and I've become the light police, following my husband around the house in the evening turning off lights that he leaves on. I don't do the running around on the weekends that I used to do, which was mainly shopping but now I stick to the local grocery store. Fortunately, I'm not close to a mall or we'd be in big trouble though.
• India
9 Jul 08
Usually my mom was the light police, but now i have picked up her habbit! I think all husbands have the same habbit of leaving the lights on, especially the bathroom lights! I just let him know that the ights are on as soon as he comes out of the room and he switches them off :). Staying far away from the malls helps a lot, i had saved quiet a lot when we were staying away from the malls. We usually try to buy things for the whole month in advance, which normally dosnt happen so we hit the stores on a saturday/sunday to buy the things that remain in the shopping list or get over in a week.
@holachika (176)
26 Jun 08
Here are some strategies I've been practising to somehow cushion the effect of ever rising prices of commodities: 1. Live on bare necessities. 2. Compare prices before hitting the cashier. 3. Make a list of what you need for the week or even for the month if you can afford it. 4. I always buy in bulk or big packaging. Computed cost is much cheaper. 5. Save and use discount coupons whenever available.
• India
9 Jul 08
I practise a lot of what you do. Like : I like to compare prices and the quantity before buying. Make a list for a month and buy everything in bulk and store them. Bulk buying sure helps in reduction of price. Buy from stores that sell certain products at a lesser price than printed on the package, these stores get products directly from the factory so other than the packaging and and a few other charges, the middleman charges are not added! So even i save quiet a bit.
@subha12 (18441)
• India
27 Jun 08
there are many. i have stopped buying unnecessary clothes for me. also we do not go out so much for lunch or dinner as we used to be.also we have cut on expensive foods that much, hope it can be adjusted .
@xParanoiax (6987)
• United States
27 Jun 08
We were living the non-mainstream life way before this happened...my family and I. I never saw sense in buying most things brand new, all my clothes, things on my shelves, the furniture in our house...all gotten for free at freecycle groups, just given away, salvaged from waiting trash at the side of the road...or gotten at flea markets and garage sales. Why buy a pair of jeans for twenty bucks when you can buy a sack full of jeans (10-20 pairs) for a buck? Since I never cared one bit about fashion, it always suited me just fine. Anything else I wanted that I couldn't find at random at flea markets, I find on ebay.com for a fairly cheap price. In fact, that's what I spend my mylot money on, lol. We've never really bought alot of things we didn't really needed either unless we could afford it/really wanted it. And we've always shopped for the cheapest food and at the dollar stores, and occasionally with local farmers and the amish. So, while the gas prices are still a very big deal and impact the prices of everything else -- and believe me, this isn't fun for us either, since there's not a ton of ways we can cut back...but all these things that we have been doing, which're how we live would probably help anyone who's been living the mainstream or non-frugal lifestyle who really have to get away from that now because of the economy.
@cher913 (25782)
• Canada
26 Jun 08
well my hubby and i stay at home alot. we go to the library about once a week (our library offers dvds and movies to take out); we pretty much only shop at thrift stores for clothing and we are very careful what we buy when it comes to food.
• India
9 Jul 08
I make a list for the home shopping even then i end up spending more. I guess i need to be a bit more careful like you are with shopping. We donot have thrift store here in India so we buy branded clothes when we feel the need to buy them, not that we dont get cheap clothes here, just that they run color in the first wash so we dont prefer them.
@fwangaa (3057)
• China
27 Jun 08
yes.i don't use my telephone for it's month-money.
• India
26 Jun 08
coping with the rising prices is quite difficult. After all the earning is not increasing in tandem. As such only way out cut short the consumption. Car pooling, spending less on fun and pleasures is the probable immediate way to cope up with it.
• India
9 Jul 08
I guess that is where most of us are saving money, putting a curb on entertainment. Earlier i liked going to the theater to watch movies but now i am content with watching movies on my PC! Going to a theater has become such an expensive bonanza!! To add on to it Popcorn and Cola with unbelievable prices are served in the theater.
@magojordan (3252)
• Philippines
27 Jun 08
Well you might not believe this but a coin or piggy bank is actually very helpful in saving up. My strategy for that is to only drop coins with the same denomination. Since here we have PhP10 coins, whenever I get it from a small change or wherever, I never spend it, I just place it inside my coin bank and that's it. Imagine if your collecting PhP10 like me imagine if you have ten pieces of that coin then you already have a hundred. My philosophy is that it's just a matter of saving up even little by little so that in the end you will have something big. We have a saying in our country that goes like this "Kapag may isinuksok may madudukot" (If you stored up something then surely you have something to get) That is what basically saving money is all about.
• Philippines
27 Jun 08
hmmm... well, not to spend too much...or just spend on things that are important...start saving not just money but also on things that will still be helpful or useful in days to come...
• Singapore
6 Jul 08
Strategies well no not yet but now a days whatever we purchase wherever we go we just keep on thinking will that be in our budget or not i cannot say this as my strategy but yes again we suffer at the end of the day.....I know this is not only the case with me so i must say this is not only the case with my family but in todays time this is the same case with the whole world because due to high rise in prise every economy of each and every country is suffering every country is fighting with this issue not still not able to get rid of this..... But we are just a individual what can we do our lives getting stuffy with each passing day.... Now a days this is the commom topic of everyone in schools colleges streets everywhere we can see people talking about prices of the goods.....
@Jshean20 (14348)
• Canada
27 Jun 08
The gas prices have been on a crazy steady rise and we try to cope with this by staying home more often, walking when we can and filling up at the pumps early in the week (prices seem to go up on weekends so we avoid filling up during this period).
@lingli_78 (12822)
• Australia
26 Jun 08
well, i always live frugally all my life even before the price started to rise because i always life on a very tight budget... so with the price increase nowadays, i already get used to it and i don't have to change the way i live... i just have to do smarter shopping and manage my money more smartly... take care and have a nice day...
@Bluepatch (2476)
• Trinidad And Tobago
26 Jun 08
I'm simply determined not to sacrifice quality for anything. I've found that when you go for cheap prices to save money what you get is not worth it. Also I'm not buying anything I don't need. So its all essentials from now on, nothing more. I have to give up the casino and a lot of my easy drinking as well as cut back on all my plans for new clothes. Other than that I make so little to start with that its a survival scene from the word go.
@luvinu617 (185)
• United States
27 Jun 08
Well one thing I do now is shop at Goodwill. I used to NEVER shop there, or go in there, and technically though it was embarrassing. But, with how hard it's been and how much EVERYTHING is going up the only place i've shopped for clothes in probably a year is Goodwill. Luckily the goodwill in my area isn't that bad. Just two weeks ago I was able to get two pairs of jeans, one brand name, and a Hollister shirt for $13! Not bad at all. Also, I am getting ready to start a job working at home. Most jobs are not exactly in my area and usually require at least a twenty minute commute, so I will be working from home from now on. I haven't started yet, not till Saturday, but hey, I'm excited and hopefully I like it. The pay isn't that great but with how much I'm saving in gas I'm making more than I would working outside of my home. Other things I do is waste nothing, I water down my shampoo/conditioner/body wash/febreze/dish liquid/etc... to save money on those. I hardly ever use hair products like hairspray anymore (plus aerosol can's are bad for the environment!!) If you need to save money and tighten up on expenses these are a few things you can do.