Prices are rising across all kinds of goods nationwide, putting strain on Americans’ budgets. The problem is that many people’s incomes aren't keeping pace with this inflation. Over the past few years, inflation has been a major concern for families across South Carolina, Georgia, and the rest of the country, and it continues to be a stressful reality for many.
While inflation has slowed compared to its peak, the costs of groceries, rent, utilities, and gas remain high, making it more important than ever to review your household budget and adjust your spending habits.
At Sunset Finance, we’re dedicated to helping our customers find realistic and sustainable ways to manage their finances. If you’re feeling the pressure of higher prices, here are five updated and effective tips to help you stretch your income, cut your expenses, and better manage your monthly budget.
5 Tips for Managing Household Budgets Despite Rising Prices
The price of household essentials is increasing everywhere. Inflation is impacting nearly every household expenditure, such as stapled food items like bread, milk, eggs, and the cost of gas just to get to and from the grocery store.
Take some time to review our budgeting basics resources if you’re just getting started with budgeting. Then read up on these five tips for managing your household spending to avoid monthly deficits despite the current rising prices.
1. Buy in Bulk & Utilize Your Grocery Reward Program
Wholesale store memberships can help you take advantage of bulk pricing. Although you’ll have the upfront expense of the membership, if you prioritize purchasing items from these wholesale stores, you’ll save enough money to pay for the membership and still put some savings back into your budget for other things.
But you will need to be vigilant in purchasing as much as you can from these stores including using gas station benefits and watching for additional sales, rebates, and specials from the wholesale clubs.
Which grocery store do you currently go to most often? Are you using their reward programs to get the most bang for your buck? Stores like Costco and Sam’s Club offer dividends and money back on your purchases. Keep track of these and put the dividends toward the cost of your membership.
Make sure to:
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Take advantage of rebates, fuel discounts, and members-only specials
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Buy non-perishable items like paper goods, toiletries, and cleaning supplies in bulk
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Track cash-back or reward programs and use those savings to offset other monthly expenses
If you shop at a local chain in South Carolina or Georgia that offers fuel rewards (like Kroger or Ingles), be sure to use those points at participating gas stations to reduce your fuel costs. These small savings can add up significantly over time.
2. Carpool
Owning a car is extremely convenient because you can go where you want when you want. But with the skyrocketing cost of gas, carpooling can work wonders for balancing your expenses and income.
Consider sharing school pickup duties with neighbors. Ask around the office for coworkers who live in your area and take advantage of your local park and ride carpooling stations.
Additionally, you could ride the local bus or public transportation to save on fuel costs if you have a stop near your home and office. Or, just carpool with family members if you work nearby one another.
Think through your required errands for the week to cut down on around-the-town driving too as you consolidate your driving behavior.
To reduce your transportation costs:
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Carpool with coworkers, neighbors, or family members whenever possible
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Combine errands into fewer trips to reduce mileage
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Use fuel price apps like GasBuddy to find the cheapest gas in your area
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Explore public transportation options if available in your city or town
3. Look for Ways to Cut Expenses
While those streaming services you signed up for were an affordable expense last year, they might not be anymore.
As you work with your budgets to find affordable ways to manage expenses, you might need to reduce entertainment and convenience expenses. While monthly subscriptions for household items like toilet paper and meal kits might be incredibly convenient, they are also far costlier than purchasing those goods in a local store. Eliminating even $5-10 per week on grocery or household staple item delivery can have a major impact on your annual household budget.
Ways you can reduce unnecessary spending:
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Use a budgeting app or your bank’s app to review recurring charges
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Cancel services you don’t use frequently
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Switch to free versions of services when available
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Pause subscriptions temporarily during tighter months
4. Shop Discounts and Use Coupons
Couponing has gone digital, making it easier than ever to save money without clipping paper ads.
Be sure to:
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Sign up for your favorite store’s mobile apps or email newsletters for personalized deals
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Use apps like Ibotta, Rakuten, or Checkout 51 to earn cashback on everyday purchases
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Shop local sales and clearance racks, especially for groceries and clothing
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Track discount days at local stores like Dollar General, Aldi, or your neighborhood grocer
Shopping discounts require added time and attention. But it can also offer incredible convenience. Use the GasBuddy app to find the best prices on fuel near you to save a few dollars on every fill-up. And clip grocery coupons to reduce your expenses wherever you can.
Many stores now offer the convenience of digital coupons, which means you don’t have to spend all the added time clipping coupons, storing them, and remembering to pack them when you head to the store.
If you live in smaller communities in Georgia or South Carolina, look for discount days or local deals from regional chains like Harveys, Food Lion, or Piggly Wiggly. You’ll be surprised how quickly these small savings add up week after week.
5. Consolidate Debts
To try to reduce the inflation rate, the Federal Reserve is increasing interest rates for the first time in three years. This may be the beginning of rate hikes that analysts and experts anticipate over the coming year.
Before interest rates become too high, now is the time to consider consolidating debt and bills. By consolidating debts, you can decrease the number of payments you’re making monthly, which in turn will help with budgeting.
Consolidating your debts into a single, fixed-rate loan can:
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Lower your total number of monthly payments
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Simplify your budgeting and make it more predictable
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Potentially reduce the total interest paid over time
The sooner you consolidate, the higher your chances of locking in a lower rate before future increases.
Get Additional Help with a Personal Loan
If you’re having trouble keeping up with rising costs or unexpected bills, a personal installment loan from Sunset Finance could be the right solution. We offer:
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Fixed monthly payments with flexible terms
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No prepayment penalties
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Support from our Georgia and South Carolina branch locations
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Fast application and approval process
Our loans can help cover unexpected expenses, groceries, utilities, medical bills, or consolidate credit cards, so you can reach financial stability without depending on high-interest credit.
Still have questions? Visit our FAQ page or call your nearest Sunset Finance location today to learn more about your loan options.
