EL PASO, Texas (KTSM) – Out of all economic problems inflation is the most destructive and every dollar earned is worth less when prices rise.
How to optimize your Fuel economy, how to avoid food waste, try going meatless once a week, buying in bulk, ending atm fees, and how to invest are six tips on how we can save every dollar that we earn.
Marketing Coordinator Paulette Murguia at First Light Federal Credit Union and Co-Host for First Light podcast ‘Get Lit’ says we need to strategize and protect our wealth.
“Prices are going up at their fastest rate since the early 1980s. As a matter of fact, prices rose 8.5 percent in March compared to the prior year according to the consumer price index.” Murguia said.
Murguia suggests that if you are driving to either the west or east, run your errands that day to avoid wasting gas back and forth.
Optimizing fuel economy is also a very important way how to save money. A person who takes public transportation could save up to 8 hundred dollars a month. Think about that, that adds up your car payment, insurance, your fuel, so you can do that,” Murguia said.
Studies show on average a family of four spends up to 15 hundred on food waste. Prepare a meal with food that’s about to expire, freeze food or eat take-out for lunch the next day.
“For instance, in my household, it’s just me and my daughter. If I know that maybe the meat will expire soon, then I will freeze it and then use it at a later time, and that way you can organize yourself, and you’re not wasting so much food,” Murguia said.
You can even earn 40 dollars a week by going meatless once a week since meat prices have risen at 20 percent.
A savvy way to save is stocking on necessities you use throughout the year by buying in bulk, plus if you use coupons, you’ll be earning more.
Planning to invest? The First Light team advises talking to an expert about how you can save and find a strategy that is right for you.
Also when you’re a member of First Light, you can text your zip code to 91989 and find a nearby ATM or shared branch location to earn points.
Want to know more about how you can beat inflation? Take a listen to First Light podcast “Get Lit” on Apple, Spotify and many other platforms and learn more about how to fight financial problems now.
First Light helps you to avoid fees since it belongs to a nationwide shared branch network that provides access to more than 30,000 surcharge ATM-fees and over 5,000 shared branches. Plus, if there aren’t any ATMs available to you, you can try Point-of-Sale Purchases to withdraw cash in small amounts in some stores.
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