If you haven’t noticed the price for consumers on just about everything has been going up over the past year!
Today’s post is by Troy Lowe; Vice President of Development at SafeSourcing.
If you haven’t noticed the price of just about everything has been going up over the past year or so. Just recently another key inflation index rose significantly as the supply and demand mismatch continues. The Producer Price Index, an economic measurement of the average change in prices that domestic producers of goods receive for their products in a given country, rose almost 8 percent over the last 12 months. With everything going up, it is time to start thinking about where and how you can save money. One way to do this is to cut down on your grocery budget. According to researchers, the average household family of four is spending over 900 dollars a month. That comes out to almost 11,000 dollars a year. There are many ways to cut spending on groceries. One way is to price compare before you shop by comparing prices using grocery store apps. You can use the apps to browse their weekly ads and to download digital coupons. When you go through the checkout and use you reward card the coupons are automatically taken off when the items are purchased. Below are some other tips to help you save money during these trying times.
- Get rid of Debt
- Buy Generic
- Use Coupons and Cash Back Apps
- Buy in Bulk
- Shop Online
- Get rid of Cable Television
- Cancel automatic subscription services you’re not using
- Reduce Energy Costs
- Pack your Lunch
- Make your own Coffee
- Set up your Bank accounts to automatically transfer money from Checking to Savings
Interested in learning how SafeSourcing can help your company run more efficiently? If you would like more information on how SafeSourcing can help your procurement efforts, or on our Risk Free trial program, please contact a SafeSourcing Customer Service Representative. We have an entire team ready to assist you today.