Make every click count with savings apps

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In 2016, gasoline prices were $1.872 per gallon. Barely 6 years later, the price per gallon of gasoline skyrocketed to $5.032 before retreating toward current levels of $3.257 per gallon in January 2024. Effectively, gas prices have almost doubled in eight years, a statistic not shared with wages and salaries across the board. Indeed, inflationary pressures have eaten into the personal discretionary income of consumers worldwide. The financial pinch has resulted in sharp and unprecedented reductions in real GDP growth (nominal GDP has risen dramatically), with little relief in sight.

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According to the Economic Policy Institute, which measures key numbers on nominal wages, the actual year-on-year growth for private-based employees is 4.5%. That pales compared to the 100% + increase in energy costs over time. More worrying is the declining year-over-year change in the private sector’s normal average hourly earnings between 2020 and 2024 – the years where inflationary pressures have been most pronounced. The inflationary pressures picked up sharply after 2020, during the Biden administration’s years (largely due to massive economic stimulus pressures on the economy and the unfolding pandemic-induced supply reductions).

Equally worrying is the reduced share that workers have in corporate income. This is hovering near its lowest levels in decades, around 75% (share of corporate sector income received by workers over recent business cycles). Viewed in perspective, this information shows an increased need for real wage increases or concomitant savings through inventive channels. For consumers seeking relief from rising prices at grocery stores, at the pump, property rentals, or homeownership, etc., several out-of-the-box solutions are present, notably:

– Fuel prices can be offset through savings initiatives provided by smart technology. For example, a gas savings app presents as a viable solution for reducing expenditures on rising fuel costs. It’s possible to download and install trusted apps offering real ways to earn money on purchases. Users can enjoy a streamlined process of earning cash back on everyday essentials like gas, groceries, and dining.

This method of earning cash back offers a practical approach to managing daily expenses. With the potential to earn up to 25¢ per gallon on gas and significant percentages back on groceries and dining, users can effectively reduce their overall spending in these categories. The service connects users with a vast network of over 100,000 participating locations, ensuring that opportunities for cash back are readily accessible in various locations. The process is designed for ease of use: individuals can simply select offers, pay as they normally would, and receive cash back without the hassle of tracking points or rewards.

Moreover, this cash back approach supports not only the users but also the local businesses involved, fostering a mutually beneficial relationship. Additionally, the service’s commitment to sustainability initiatives adds an element of social responsibility to everyday transactions, enhancing the overall appeal of using this service for regular purchases.

– When it comes to grocery shopping, particularly in times of rising prices, there are several strategies to reduce costs while still enjoying healthy, fresh meals. Embracing grocery pickup services from local stores or online platforms can be a smart move, as it helps stick to a predetermined shopping list and avoid impulse buys, thus keeping your budget in check. Another effective approach is to consider buying in bulk, especially for non-perishable items, after calculating the potential savings using unit price calculators.

Additionally, sourcing locally through community forums or farmer’s markets supports local producers and results in fresher and more affordable purchases. The smart use of apps can also guide you in finding the best deals, sales, and coupons in local stores, making the process of finding budget-friendly options easier. For those looking to take it a step further, growing your own herbs and vegetables can be rewarding and cost-effective, with numerous apps available to guide even the novice gardener.

Strategic meal planning, including incorporating more plant-based meals, can also play a significant role in managing food expenses effectively. By combining these methods, shoppers can navigate the challenges of maintaining a healthy diet amidst fluctuating grocery prices, ensuring that both palate and pocket are satisfied.

In the context of high-interest rates, achieving savings on housing and rental costs basically necessitates a holistic approach, blending various innovative strategies under the umbrella of smart financial planning and resourcefulness. One key method is optimizing living arrangements, such as through house hacking, where purchasing a property with the intent to rent out parts of it can substantially offset mortgage costs. Likewise, sharing a rental with roommates or considering subletting can effectively reduce individual expenses.

For homeowners, refinancing the mortgage to capture lower rates, or investing in energy efficiency improvements can lead to significant long-term savings. Additionally, exploring rent negotiation tactics or even relocating to more affordable areas can make a notable difference in monthly expenses. Leveraging government programs for assistance and tax benefits is another avenue worth exploring.

These diverse and interconnected strategies, when applied thoughtfully, can collectively contribute to considerable financial relief in housing and rental expenditures during periods of high-interest rates.

Viewed in perspective, these ideas provide broad-based solutions for working within the framework of the economy – as is – and extracting maximum benefit without placing undue hardship on your existing resources. Work with a budget, use technology effectively and implement tactics and strategies to keep more of your hard-earned money in your pocket.