Inflation has spiked costs on essentials from groceries to gas to streaming services, making it feel like our dollars are shrinking by the day. But you don’t have to be at inflation’s mercy. With a few smart changes, you can start saving in ways that don’t require sacrificing everything you enjoy. Here are ten tried-and-true strategies for cutting costs and stretching your money further in these pricey times.

1. Meal Prep for Maximum Savings

Eating out, ordering delivery, and even grabbing quick lunches can quickly pile up when you’re on a budget. Meal prepping isn’t just a money-saver; it also lets you control ingredients, reduce waste, and avoid impulse buys at the drive-thru. According to Food & Wine, meal prepping can save an average household up to $1,200 per year.

How to Start Meal Prepping

• Plan a Weekly Menu: List out meals you’ll prepare for the week and make a shopping list based on that plan.
• Batch Cook: Choose a day to cook multiple meals in large batches. Portion these out in containers so you have easy-to-grab lunches and dinners.
• Stick to Your Grocery List: Resist impulse buys and avoid straying from your list to maximize savings.

2. Cancel Subscriptions You’re Not Using

From unused gym memberships to rarely watched streaming services, subscriptions can be budget sinkholes. A 2021 study found that the average American spends $348 a year on subscriptions they don’t use. Regularly reviewing and canceling these can lead to significant savings.

How to Identify and Cut Unused Subscriptions

• Check Your Statements: Look over recent bank or credit card statements to spot any recurring charges.
• Use Subscription Tracking Apps: Apps like Truebill and Rocket Money can help track subscriptions and remind you of upcoming renewals.

3. Buy in Bulk (If It Makes Sense)

Bulk buying can be an excellent way to reduce per-unit costs on essentials, but only if it’s practical for your household. Buying items like toilet paper, paper towels, and canned foods in bulk often means significant savings per unit. However, the key is sticking to non-perishable items.

Best Items to Buy in Bulk

• Toiletries and Cleaning Supplies: Items like shampoo, soap, and cleaning supplies don’t go bad and are often cheaper in bulk.
• Dry and Canned Goods: Stock up on pasta, rice, canned beans, and similar staples that store well.

4. Switch to Store Brands

Opting for store brands can cut grocery costs without sacrificing quality. According to a Consumer Reports study, store brands often come from the same manufacturers as name brands and are held to the same quality standards. This swap can save you 25%–30% on many items.

Items to Try in Store Brands

• Pantry Basics: Items like flour, sugar, and pasta are easy swaps.
• Canned Goods and Frozen Vegetables: Store brands often offer identical quality for a lower price.

5. Adjust Your Commute to Save on Fuel

Commuting costs, especially with fluctuating gas prices, can quickly eat into your budget. By switching up your commute, you can save on gas, car maintenance, and more. Even carpooling can save the average commuter $1,500 a year.

Commute-Saving Strategies

• Carpool with Colleagues: Check if coworkers are interested in a carpool arrangement.
• Use Public Transport: Public transit might take longer, but the savings on gas and wear-and-tear are substantial.

6. Renegotiate Your Bills

Providers want to keep your business, and they often have wiggle room on rates. According to Forbes, even negotiating a few bills like your internet or phone plan could save an average of $300–$600 per year.

Steps to Renegotiate Effectively

• Start with Internet and Phone Providers: Many of these companies offer “loyalty” discounts.
• Research Competitor Offers: Know what competitors offer, so you have leverage during your call.

7. Cut Back on Energy Usage

With energy prices on the rise, cutting back on usage can make a difference on your monthly bill. The U.S. Department of Energy suggests that simple steps like lowering your thermostat by a few degrees can reduce energy costs by 10% annually.

Tips to Save on Energy Costs

• Unplug Devices: Electronics continue to draw power even when not in use. Unplugging or using power strips can help.
• Use Energy-Efficient Lighting: Switch to LED bulbs, which use a fraction of the power of traditional bulbs.

8. Use Cashback Apps and Credit Card Rewards

Cashback apps like Rakuten and Ibotta make it easy to earn back a percentage on everyday purchases. Similarly, using a credit card with cash-back rewards on essential purchases—paid off monthly to avoid interest—can help offset the cost of inflation.

Best Cashback Apps

• Rakuten: Earn cashback when shopping online at popular stores.
• Ibotta: Get rebates on groceries and other purchases by uploading receipts.

9. Try the “30-Day Rule” for Impulse Purchases

Impulse buys can throw off your budget, especially if it’s a larger item you didn’t plan for. Using the 30-day rule gives you a “cooling-off” period before making a purchase, which can lead to fewer regrets and more money saved.

How the 30-Day Rule Works

• Wait on Non-Essentials: For any purchase that isn’t a need, give it 30 days. Chances are, the initial urge to buy will fade.
• Reevaluate After 30 Days: If you still want it after a month, go for it. More often, you’ll find you don’t really need it.

10. Set Up Automatic Savings

Automating savings is an easy way to consistently put aside money each month. Setting up a small recurring transfer to a savings account means you’ll gradually build up a financial cushion without much effort. Many financial advisors recommend automating even a small amount—say $50 per month—to start building a habit.

How to Automate Your Savings

• Use Your Bank’s Features: Most banks offer automatic transfer options for free.
• Set It and Forget It: Once set up, you don’t have to think about it, and the savings will accumulate over time.

By making these changes, you can push back against inflation without giving up on essentials. Tackling even a few of these strategies can put more of your money back in your pocket, so you don’t feel like you’re constantly in catch-up mode.

Looking for more tips on frugal living? Read our guide to budgeting basics or explore energy-efficient habits to save even more!