Social Security, HyperInflation & 15 Ways to Save Money Now
So, it’s official – I am semi-retired. I say it’s official because I received my very first SSI check last month. How exciting. What is NOT exciting is figuring out how to live on social security during this hyperinflation and save money now. So in this article, I will discuss Social Security, Hyper-Inflation & 15 Ways to save money NOW.
It is a challenging time to stretch that money for a month at a time when prices of food, gas and everything has skyrocketed. We are in a hyperinflation market and it’s amazing that people on a fixed income can survive. The price of meat is SO high that I joked that we may have to eat cardboard soon!
So left-overs are quite popular again. We do our best not to to waste food. We seldom eat out anymore – the price increase is incredible.
Inflation hasn’t exploded like this in decades and our younger generation has never seen anything like this.
Inflation on STEROIDS = Hyper-inflation
Hyperinflation can be defined as a sudden runaway inflation with a sense of panic. Often times it happens in times of war, uprisings or a global pandemic. Looks like we had the trifecta.
15 Ways to Save During Hyper-inflation
Buy in Bulk and save during times of hyper-inflation
1 Try to buy food and household supplies in bulk. Stock up on what you use the most of when it goes on sale. Take note that products often go sale and certain times, so when on sale, buy in bulk.
Make a list & Stick to it and SAVE
2 Make a list before grocery shopping and stay in your budget. Cut back on impulse buying and stick to the list.
Family Fun Nights
3 Bring out the board games and have family game nights rather than going to the movies which can really put a dent in your wallet.
Don’t waste gas
4 Don’t waste gas – don’t let your car idle and avoid sitting in traffic. Limit to driving to what is essential. Walk or ride a bike when you can.
Bundle Cable, TV & Internet
5 See if you can bundle your tv/cable to save money. Or perhaps even re-evaluate your television needs and determine if you really need cable tv or if a subscription to something like Netflix of Hulu is better for you. Personally, I prefer youtube but being a Youtube influencer, I suppose I am biased. 
Try generic or less expensive off name brands
6. Try generic instead of brand name products. Some are just as tasty as the brand names – try them and you decide.
Check out Thrift Stores & SAVE
7 Rather than purchasing new – look into local thrift stores to find gently used furniture, clothing and household items. Also check out Facebook marketplace for some bargains.
Get rid of subscriptions you no longer use
Cancel unnecessary subscriptions. Sometimes we sign up for something online and we forget that a subscription renews every so often unless we cancel it. So be sure to look into that status of your subscriptions. The best way to do this is probably to go through your old emails.
See if another cell phone provider is less expensive
10 Switch cell phone carriers. Different carriers are always offering deals to steal you from the competition, so be sure to check out your mobile options.
Shop around for the best car insurance quote
11 See if you can save money on car insurance. There are websites and aps that claim to be able to compare and find you the best rates in 2 minutes.
Car pool when you can and save during times of hyper-inflation
12 Car pool when you can to save money on gas. Who isn’t saying OUCH when they fill up their gas tank. Gas prices are at some all time highs. But with little bit of planning, you can coordinate a carpool to work. Or if you are lucky, perhaps you can work remotely a few days week.
Cook at home
13. Stop eating out. Cook at home and be sure to use left-overs. Some left-overs are actually tastier after the flavors marinate and settle for awhile. So don’t throw out that extra pasta!
Can it be repaired?
14. If you need to make a major purchase, like an appliance or car first look into if it would be more cost effective to get it repaired rather that replacing it.
Ladies, try stretching out your hair or nail appointment a week or two to SAVE NOW
15. Okay ladies, don’t get mad. But what if we stretch out our hair or nail appointment for a week or two?
Although times may be tough financially right now, especially for those on social security, remember boomers, that we too, are tough. We have lived through recessions, and hyperinflation, so let’s while remaining frugal, let’s keep in mind that this too shall pass. We just need to learn ways to save even if we are on social security during times of hyper-inflation.
