How are you guys managing with the ongoing cost of living crisis?
So true. Meal preping has saved me so much money. I spend like $70 for for breakfast, lunch, dinner and extra goodies per week. If you live in a large city, check the weekly ads and clip those digital coupons. I have saved so much money. I rarely est out. I can justify spending blow en entire week grocery budget one 2 meals.
Dont even get me started on dating. It is so damn expensive.
Yep, same here. Don't eat out or drink nearly as much as I used to.
I used Youtube for meals I'd normally get at the restaurants. I was surprised at how easy they were to make. I was also surprised at how much sugar is in Chinese dishes.
Can you recommend some channels for that?
Yun cuisine or Cook! Stacey cook. Also, most butchers will thin slice your cuts of beef for free.
Lentil soup, no joke
Leek and potato for us
you can afford leek?!
Easy enough to grow both in my garden.
Split pea soup in this hood
Just continue living below my means and saving money.
That's the only thing I can think of too. We make 55k and do all right although prices are creeping up on everything. If we had car notes, kids, pets, long commutes, I don't know how we would do it.
I didn’t do these for that reason but it certainly makes things easier.
1) I let my girlfriend and best friend move into my house. Paying 1/3 of the bills is awesome.
2) I quit caffeine. Drink 99% water. I save a ton of money not chugging down soda or redbulls or coffee or juice. I also limit alcohol intake. My bar tabs are significantly cheaper now and no hangovers. Easier to stay fit too.
3) I meal prep. Always have. Less wasteful, more efficient, and cheaper than eating out.
4) I’ll often buy fruits that are on sale, items/meats in bulk, and meats that are on discount(close to expiration). I’ll often freeze stuff, raw or cooked. Today, I’m probably going to bulk cook breakfast sausage and I’ll probably freeze about 60% of it in two different reusable containers. Down the road, I can just thaw out and eat later. I bought those reusable freezer bags. I love them.
5) I watch YouTube to learn how to do home repairs myself. I use google as well to learn about stuff. I do my own yard work/snow removal.
6) I keep an efficient routine. For example, I often go grocery shopping after the gym. Saves time and gas by having less drive time.
7) I game rewards cards for cash bonuses and cash back.
8) I invest in stocks/CDs myself.
Why CDs? What’s the interest? Isn’t it super low usually
Interest rates are low, but as long as the institution you're banking with doesn't fail, which is extremely unlikely for most public retail banks, CD's are one of the safest ways to guarantee a return on invested money.
I bought a chunk of 10 year CDs to go with my stocks when they hit 4.8% on 10 year paying monthly. I reinvest the interest into stocks.
Oh okay, I see. I have a regular savings account with Jenius that’s over 5% so I’m not sure what the benefit of a CD is
You get to lock in rates for x amount of time.
When/if they cut rates, your savings account won’t pay that anymore while my CDs will continue to pay out.
Mine are brokered CDs as well so I’m not necessarily locked in either.
Interesting, thanks for the info! Starting to get more into this now and also maxing out my Roth IRA w Vanguard
Educate yourself.
I have looked into CDs and the interest rates sucked in the past.
That’s when interest rates were low. Interest rates have been going up since the fed has been trying to address inflation. I suggest you read some headlines or turn on the news.
You are correct, that info was before. However I am unsure whether ~4% interest would keep up with inflation. Right now I have 5.25% in a savings account with Jenius that’s liquid.
The point is you lock in that interest rate so when interest rates go down in the future that 4% is above the cash rates.
CDs aren’t a great product for everyone …. What are you trying to solve for?
I’m just learning in general. I’ve always heard about CDs and never really understood the draw to them, so I was trying to understand how they are better than my IRA. I’m not even maxing that out yet so I guess I am putting out feelers for where I should ferret my money beyond that and my liquid emergency fund.
If you are trying to maximize returns over the long term you should be investing in equities obviously. But to flat out write off CDs for everyone because interest is low is imprudent
I guess I still just don’t understand the draw for anyone and was trying to see if I was missing something cool about them. I probably still am. 🤷🏼♀️ perhaps it’s just a safe way to diversify if you already have enough liquid emergency savings, and maxed out your IRA and 401k?
By staying at home living with my dad.
I never go out to eat, I don’t drink, I mostly eat vegetarian, and I try not to use the AC much.
I steal pigeons from the street sand cook them
Awe yes park chickens
Anyone for some bin chicken?
I thought they killed him
Dialed back on quality of coffee, got rid of Uber eats, recognized I have what is me necessary to be fulfilled in my hobbies. Quit chasing the next best thing. Also quit drinking 2 years ago which freed up some funds.
I know I'm 1 big bill (1000$) from bankruptcy
Surely you wouldn’t consider declaring bankruptcy over $1000
No i'm over 2 million in debt..
… and that’s driven by the “cost of living crisis”?
During the Pandemic, it destroyed the business I recently started in 2019... essentially I'm left with nothing but debt.... Now I even eating out is a luxury for me...
aie caramba !
Intermittent fasting (not joking). I eat one meal a day now. So if I prep or buy a single meal I can spread it across a few days.
I don’t buy new clothes unless absolutely necessary.
I have budget set for each month that I try my best to follow. Life happens sometimes but I do try to ensure I don’t go way over budget.
Always have lights off when not using them and minimal use of electricity.
Things are getting really tough in contemplating moving back in with my parents.
Becoming more r/Frugal and up my r/minimalism game. But yeah keeping track of my spending is an additional thing I've done so I can live below my means. I've always put away to savings, but could do more to make sure the savings aren't touched unless extremely necessary.
Sinking into debt & depression. Not managing well.
if only the credit card company accepted tears as payment
We eat out and drink out less often. Those costs have increased 30% post-COVID. Plus, I feel like the expected tip has evolved to 20% vs 15%. Bottom line, I just don’t think eating and drinking out is a good value anymore.
I cut back on my adenochrome consumption.
People forget this is how Biden defeated Medicare.
just shoplift the meat but pay for greens
Attempting to sew discontent among the masses for a revolution.
Got a 25% raise by getting a new job. Will repeat in 2 years if necessary.
Trying this! Still trying…
Same but I need to be at my job 3 years for the 401k to kick in, so I am considering waiting an extra year to do that.
Drinking more vodka
Living well below my means, trying to save enough for a downpayment for a house in a couple of years.
- Shopping at local Mexican grocery stores for fruits and vegetables
- living in Houston (cheap flights to the west or east coast via Spirit)
- inviting dates directly to house
username checks out
cut down on alcohol, weed, switched gyms, limited uber eats, focused on more efficient grocery bill. We have a Keurg for coffee, so we switched to using reusables coffee pods 3-4 days a week.
About to move in with another couple.
Giggity
I changed nothing. I always lived below my means.
They seem like a nice family, albeit with an unusual name
Who?
The Mymeans family.
I don’t drive, I eat bulk packs of chicken and rice, and I haven’t been dating. I got sober a year ago and my expenses went way down. Granted I lost my entire social life but that’s beside the point.
Limit takeout/eating out, limit alcohol, generally try to live a modest lifestyle (i.e. used car, older model of phone/laptop, etc. updating for the sake of having the latest and greatest will add up quickly).
Living in a LCOL area helps too.
Cut out alcohol Cut out fast food Wife and I each got 15% and 20% raises.
I got salary adjustments due to inflation and she got a raise.
Also saving $2000/ mo now that my kids are both officially done daycare.
- Change employers every 2-3yrs to get at least 30% pay increase.
- Health is wealth so make own healthy food and exercise.
Written budget every month and cut where necessary to balance it.
Eating out #1 expense so cut back on that.
Look at every single bill and see where you can shift to cheaper plans (cell phone is a big one) and what changes you can make. A ton of people have a million streaming subscriptions they don’t need.
Things like that.
I’m not struggling with housing but I still do this. It’s become a game to me.
Definitely helps
. I have a prepaid phone plan with no Internet data and I am saving loads of money. It costs $7 a month. $9 if I want 2 GB of data to go with it.
If I need Internet, I use public WiFi or family/friends'.
No streaming services whatsoever.
I'm entertaining myself with my books and huge backlog of games from years past.
Make sure income is above base needs and save.
Dug in at work and got a couple of promotions/pay rises.
Cook at home instead.of.going out.
Dont go out as entertainment much.
As expenses go.up i cut the wants
No cable. New cell.phone company.
Cooking at home more often. Not going to Chipotle. Keeping unnecessary shopping down (Cloths, household items), and DIY home repairs as much as possible.
Reading this makes me want chips & guac now
I don’t buy anything I don’t actually need and I have four jobs (three of those are gig work, one full time teaching). I also just wanna say that I no longer drink alcohol which has saved me $4,000 this year alone and I’m three years sober. Now that I don’t drink I look at alcohol prices occasionally while waiting in line or whatever and I’m like, how did I once afford this? Don’t even get me started w buying drinks out.
Switched to store brands dont travel much or go out as often price gouchimg sucks but raging/noping wont fix it. Also, dialed back doomer media consumption don't need to hear every 5 minutes that prices 0are high. I also knew the 1970's were worse, other countries are doing worse, and this won't last forever. Obsence gas prices caused this, and they are almost reasonable again despite sumner driving season
When this first happened, I got caught up in the media frenzy went ballistic down the angey doomer rabbit hole made myself miserable but it fixed nothing best to make the least awful cuts grin and bear it the dark times will pass.
One step at a time.
Never eat out. Work 60-70 hrs per week. No vacations. Grad school full time.
Built out an older sprinter van to live in. Fuck this rent. Best decision I ever made. Maybe in 10 years I can afford to buy property or leave the country permanently. It aint getting better.
live at parents just saving my money.
I shop at Aldi and use TikTok recipes for meals at home. Only eat out maybe once a month now
My wife and I really haven't changed our lifestyle much. We were always frugal people, and always focused on debt payment and saving going back 25 years. We also never felt the need to "keep up with the Joneses". We never bought a bigger house, instead keeping our first home and doing reno's. We have older vehicles, which we maintain. I do all renovations myself, along with most of the vehicle work. We both work overtime when it's offered, which goes to savings. We simply have a little less after each paycheck than we did 5 years ago.
Condoms
Debt
Our pensions cover all our expenses and bills. My Army retirement family health insurance save us from buying pg health institutions costs. We have to supplement our income from savings if anything breaks. That is ok, as this is the old age for which we saved for decades. Until aged 62, we were very careful. With Social Security adding in to my military pensions, life is good. We enjoy a modest lifestyle, but buy what food we like with less attention of adjusting our meal plans to the sale items.
Life is good
Not having kids helps a lot.
My pets tho eat fancier food than me lol
I adjusted my 401k contributions, cook more at home, cut back on trips.
I live well within my means... I don't order food (or rarely; twice in an entire year I did), almost no subscriptions (only spotify & prime video). I have some space in my budget if stuff gets more expensive, it just means I save less money.
Saving as much as possible. Driving a 15 year old car, cook all my meals, no extra subscriptions… basically all the spending that helps keep the economy afloat is dead to me.
Bare necessities and stacking savings for the inevitable emergency fund.
No eating out. No buying coffees while out. Really thinking about each and every dollar I spend when I’m at the store. No vacations…it’s just not feasible until I pay some bills down
Taking advantage. Put most of my savings in a HYSA this year, finally. Making 5.5%, compared to 0.1% with my bank the last few years. The federal reserve will probably drop the rates in September. Great for home buyers, bad for interest earnings.
What bank? I am currently getting 4.5%
I'm with Wealthfront. An online investment firm (robo advisor) that offers a Cash Account. They sweep funds to partner banks for FDIC insurance and interest. Base interest is 5.0% but they have a referral program for an extra 0.5%. Here's the FAQ for their HYSA (Cash Account). If you want a referral to start with 5.5% the first three months, just message me.
As I said, the rates will probably drop in September when/if the Federal Funds Rate drops. Just getting what I can, while I can.
Living with parents and prepping to live in my vehicle soon. Cant stand my parents. Meal prepping, buying only store brand items, saving almost every penny, wearing the same clothes for 5 years, remembering which clothes last the longest so I can maximize longevity.
I don’t buy any new clothes from shops anymore like I used to without a second thought now it’s only vinted and eBay , I haven’t got a new car when I usually would I’m using this one until it dies or I come into Money , I don’t eat out as much as I used too , coffee shops and lunches out at work are a rare treat a few times a month. I try do one bigger shop at the supermarket per month and then a few visits and I Make do and use whatever I have in even if I don’t fancy that. I don’t go out on nights out much anymore instead I go for walks which costs fuel but is free. I can’t tell if life has changed so much because I’m getting older and maturing or if it’s just new habits because of the cost of living … I’m enjoying it tho nights in over nights out and I earn a decent wage but that week before payday I’m always skint !
I honestly haven't noticed it. I'm not rich. I earn a nurses salary so quite low. But I haven't changed my spending habits
Almost no eating out. Buying cheaper food at home. Still have some pork and beef from those we butchered in better times but I’m worried about when they’re gone. Meat is expensive! No watering the lawn anymore. No new clothes except for kids. No vacations.
I prep meals for my wife and I. Every 2-3 weeks, I cook about 4-5 different dishes that we then freeze. Heat it up and we are good to go. I think our monthly grocery bills are about 2-300 max.
We now only eat out maybe twice a month, and have literally only 2-3 subscriptions.
The only expense and vice we do have is our climbing gym membership, which is 90 dollars a person…and our ski pass at 650 per person per year. Dunno how we get rid of those two…haha…
We save quite a bit, so we still are able to take that savings and apply it to a vacation or something nice.
First and foremost ask yourself what political party your lifestyle identifies with not with what feels good. Use logic. Then vote with logic. The reason why I say this is elections have consequences. I am doing good because the writing was on the wall for a long time. I live below my means and have always paid myself first (401k contributions first then you lay your bills). Have low debt and distinguish between a want or a need. Don’t invest in liabilities invest in assets.
Job hopping increases my pay 20K over 2 years and now I’m basically where I was + a little extra in the midwest
I’m doing great. Zero impact to my lifestyle.
I quit eating food.
Wife went back to bartending part time for extra money. Sucks that she needed to work just for us to maintain the same standard of living as previous years. But when groceries for 6 people are 150 bucks every 3-4 days, it’s like what else are we supposed to do?
I wake up and go to work 5 days in a row and collect paycheck. Pay bills, mortgage, needs, then repeat like I've been doing since I was 17.
High Household Income + bought housing in 2014
Not having kids.
i live with my parents
It’s terrible.
No amount is enough.
Poorly
Eh, I am a lot angrier tbh. Probably from being hungry all the time. - Half kidding. This shit sucks, though.
I'm a teacher and now I am also a power skating coach and will soon start summer hockey camps
Vote with my feet. Moved to a cheaper state.
I don’t go out much and just work and study 💀
Live in parents unfinished basement
Cut streaming services, stopped ordering food, stopped doing Instacart.
Just keep grinding starting new business, invest everything into new income streams
I’ve personally barely felt it. I rent a studio apartment that is well below my means, and I’ve been eating plant based since 2017, so the increase in grocery prices barely affected me other than cleaning supplies. I’m actually saving more money at this point in my life than I’ve ever been able to before.
being vigilant about looking at prices, I'm only buying if the price is reasonable or i look elsewhere, or don't buy at all.
I've been cutting whole companies out of my life for the past year or so, the rising cost of everything is like navigating a minefield
Probably similar others, me and my wife:
No longer eat out - To compensate with this, I’ll usually buy a fewer higher quality groceries and cook a really nice meal once a week.
Limit takeout - One takeaway a week maximum (if that).
No takeout coffee - We both love Coffee but the price of a coffee at a Café has got ridiculous. To compensate again, we usually buy some nice coffee for home.
Make lunches at home - no more meal deals.
To summarise, we spend a little extra each week to have nice food and drink in our house, which saves a lot each week as we never have to go out for it.
Living with parents
I wonder who's asking.
Twist the knife?
Just by making sure I decide what is a luxury and what is a need
Make more money by working more/harder.
No life outside of work. If I do, it's outdoor stuff.
Like many others we are eating at home a lot more and seldom going out. We found that going out was expensive and the food quality and portions have dropped so we don't find the value we used to.
Absurdism. Remembering life isn’t forever. Eating good meals cooked at home and drinking cheap wine. Starting a garden. Building a fire pit for staying at home for entertainment. Buy clothes at thrift stores. Shop coupon sales at grocery store and freeze. Identifying birds. Not watching the news. Trying to meditate once a day. If that doesn’t work, I cry in the tub.
by waking up grateful everyday that California paid for my college education.....g damn liberal socialists......blessed
Pinching pennies and praying Trump gets back in office
The first will help, but I don't honestly see how the second will do any good. There is nothing in Project 2025 that is aimed at anything working class people will benefit from.
Probably lower interest rates
Lower energy costs
But the lower interest rates will happen regardless, and if energy costs are lower, it will be such a very small amount that it wouldn't make a noticeable difference in my budget. I mean, car gas is determined on the global market, and home energy is just not going to budge due to anything the federal government will do. These things don't seem to be influenced by who is in the oval office, in my view
5 years ago I remortgaged I am at sub %3 gasoline was less than $2 a gallon in mid Michigan gas is $3.89 and you can’t get a mortgage under %7 food cost are basically up 20/30% so I will wait and see if it gets better after thee election. We are empty nesters and want to downsize to save money but the inflation and double thee interest rates has offset everything
By working more. Eating at home. Canceled cable TV. Looking for a cheaper cell phone plane next
Self check out. Employee discount babayyy.
I'm gonna get downvoted, but I don't think the cost of living crisis exists? All my friends have found 100k+ jobs after graduating. I myself don't make near 100k but I am able to live because I budget and live below my means.
I just upvoted you. Yeah the CoL is going up on a nominal basis but everyone in my life, including myself is making more than ever. I just bought a home and my tax-affected housing costs are about the same as in 2019. And I make twice as much money v 2019.
Eat food at home and not going out so much. Saved a ton doing it this way.