Navigating Inflation

A woman looks at a receipt with her hand to her head while sitting at a table in front of a laptop computer

Rising inflation is causing American families additional added stress this fall. With back-to-school shopping and the holidays coming up, families are feeling the pinch at the pump and the register. Everyone is trying to find ways to make their dollars stretch further and minimize costs, and with prices on consumer goods spiking, despite many families cutting back on additional spending this year, experts predict a 35% increase in spending compared to 2019. Even in an economy that favors consumers, the holiday season can place a financial burden on families. How can an attorney help you through high prices? Many retailers offer special deals if you sign up for various programs, and your attorney can review those contracts for you, to help you understand all the legal intricacies of what you're agreeing to when you sign up, all for no additional fee when you're a member of our Legal Protection Subscription Plans for Families & Individuals. In the meantime, here are a few tips that may help you and your family manage inflation.

Take Advantage of Discounts

Some retailers offer special discounts and limited time specials throughout the holiday shopping season. Many offer discounts for veterans, teachers, college students, and more. Take advantage of every discount you're entitled to and consider participating in retailers' rewards programs, as well, particularly if you already shop at that store. Make sure to read the fine print or have your attorney review the contract before you sign on the dotted line.

Try To Time Your Spending

Watch for sales and try to time your purchases of non-essential items to when they're on sale. Retailers have many sales, closeouts, and special promotions throughout the holiday shopping season, so keeping an eye out for when the items you want will be on sale is a great way to save some money.

Watch Overspending

Think about things you might need that could be purchased used, or trade with other families for things you need with things you don't use anymore. Joining "buy nothing" groups on social media is one way to find out about these trading opportunities. Second hand shops, consignment stores, and thrift shops are other alternatives to getting items you need but don't want to pay full price for, and maybe make a little back by selling things you no longer need.

Re-purpose Things You Already Own

There are many times we go through closets, attics, basements, sheds, garages, and storage units and find things that we already own but we forgot we had. Many of these items can be put to use, used for something else, or sold online for cash.

During a high inflationary period, it's important to have protection in place so you're not taken advantage of in an already trying time. Maximizing financial stability starts with making sure you, your family, and your rights are protected, and an attorney will be able to help you navigate consumer finance legal issues quickly and easily and prevent you from losing more money over a sour deal. Learn more about our Legal Protection Subscription Plans for Individuals & Families, or sign up today!