The government shared data today that shows inflation is just going to continue.
The consumer price index measures how much things cost in comparison to the previous year. This year’s data shows the cost of goods jumped 6.2% from October 2020 to October 2021.
That’s the highest increase in thirty years. Seniors received an increase in COLA by 5.9%, but prices will likely increase past that.
Here are 4 ways to help you financially as prices of gas, food, and day to day life continue to rise
Get rid of cable. People pay hundreds to watch cable in their home, but many streaming services offer everything they’re looking for.
You can also add channels like HBO to things like Hulu or Amazon Prime. Cable can be up to $200, while streaming services run around $5.99-$14.99.
Another way to save money is to refinance your loans.
Sometimes you can refinance for lower interest rates and even extend the life of a loan by a year to drop the monthly payment down.
Cash back programs are also a good way to save money.
Sites like Ibotta and Rakuten will give you money back for certain items you purchase, and credit cards like Target, Discover, and Walgreens offer cash back.
Another place to help save money is on fuel.
Gas prices are incredibly high right now with the national average right around $3.42.
Make sure your tires are inflated, you drive on smooth roads if possible, and to cut back on mileage.
By watching speed you can also help to conserve gas.
Related: Save yourself money doing these six things before you go grocery shopping
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected]