How to Find Bargains During an Inflationary Year
It seems like prices are skyrocketing for everything these days. Is there anything you can do to save money? Two experts talk about bargain hunting in a year of inflation.
Thanks to inflation, the price of everything has risen by at least 8%, and some by much more. Even simple actions like going to the grocery store or getting gas have become downright painful. With many fixed costs, there’s often nothing we can do about rising prices (after all, we have to drive to work), but there are countless opportunities to make bargains on other things. Here’s a look at how we can stretch our dollars a little further in these inflationary times.
WHAT DOES THE BARGAIN HUNT LIKE IN AN INFLATIONAL YEAR?
Trae Bodge, smart shopping expert TrueTrae.com, says bargain hunting will look a little different for everyone. Some people might be “extreme couponers” while others are “casual savers.” Ultimately, she thinks that “with inflation this high, it’s important for anyone on a budget to look for ways to save in ways that work for them.”
Karen Hoxmeier, owner of MyBargainBuddy.com, suggests getting more creative if you’re bargain hunting these days. For example, she suggests buying end-of-season stuff – she recently spotted summer clothes on sale with up to 80% off. Hoxmeier enjoys scouring the clearance sale, where she looks for birthday and Christmas gifts all year round.
She also recommends buying second-hand items, such as through Facebook Marketplace or Nextdoor, and refurbishing items rather than replacing them where possible. She even got lucky with the bartering trade, trading a week-long stay at her cabin for a video game table.
USE BROWSER EXTENSIONS OR APPS
Bodge regularly reviews browser extensions and apps. One of her favorites is Slickdeals.net, a website, app, and browser extension. She appreciates her sale alerts, which let you know when a particular item is on sale. Your other current favorites are CouponCabin.com and Rakuten.com.
There are of course many other options. Bodge advises, “Whatever site you prefer, make sure you install their browser extension or you’re leaving money on the table.”
CLIP THESE VOUCHERS
Hoxmeier says, “I strongly advise looking for a coupon whenever you make an online purchase.” RetailMeNot and Deals.com List many coupons for online retailers.
However, she warns: “Shopping brands are another matter. Most of the time, they just trick you into buying something you wouldn’t get, so maybe you save 50 cents, but you spent $5 on something you don’t need.” Instead, she’s “a bigger advocate for getting yourself View store ads and plan meals by sale, stock your pantry or freezer with items you use regularly when they’re on sale, and then stack a coupon on a sale when you’re able.”
Bodge points out that deal sites can help you find and track digital coupons. “But the circulars that end up in our inboxes are more reliable than ever. So if you’re more of an analog person, be sure to check out these newsletters.” And she advises signing up for in-store rewards programs, which can give you “targeted coupons” either on your receipts or via email and SMS .
ARE DOLLAR STORES A GOOD IDEA?
Both Bodge and Hoxmeier agree that dollar stores can save money in certain cases. Hoxmeier says they’re “great for things like greeting cards, gift bags, and candy.”
Bodge adds that “things like party supplies, school supplies, name brand beauty products, and glassware can be great value for money.” However, she notes, “You can go wrong at dollar stores if you’re selling things like toys.” or buy electronics that break after a few uses…”
USE THE RIGHT CREDIT CARDS
Experienced shoppers should also pay attention to which credit cards they use for purchases. Bodge notes, “One thing a lot of consumers don’t do is use the right credit card to make their purchases, since many credit cards offer the ability to earn points or cashback on purchases.”
She admits that some of the points programs get complicated, but one of her “favorite cards is the Amazon Prime Rewards Visa for Amazon shoppers, where you can get 5% back on any Amazon purchase and 1 or 2% on everything else.” She points out that Target’s Red Card has similar perks, and she enjoys American Express’s Gold Card. They can earn 4% of the grocery bill, “which is really paying off right now with grocery prices being inflated the way they are.”
BARGAIN HUNT FOR INFLATIONARY TIMES
Bargain hunting can certainly pay off, and perhaps now more than ever as inflation drives prices up. Whether you’re using browser extensions, clipping coupons, or shopping at dollar stores, finding a bargain will be a lot easier with these expert tips.
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