Saving Money as Prices Increase

[RickB]

Groceries will have to get a lot more expensive than they are now before I start cutting big corners in that department.
Eating good healthy food prepared at home has more benefit than a few bucks a month more in the bank account.

 

[riptides]

Groceries will have to get a lot more expensive than they are now before I start cutting big corners in that department.
Eating good healthy food prepared at home has more benefit than a few bucks a month more in the bank account.

Is a good perspective.

Now is a good time to look at what your actually eating and make some changes if one is worried about cost.

 

[5030]

Groceries will have to get a lot more expensive than they are now before I start cutting big corners in that department.

I suspect they will Rick... Only a matter of time. I just wonder what the tipping point far as the general economy goes. Personally, I think we are headed for a big bust...

 

[Larry Caldwell]

Groceries will have to get a lot more expensive than they are now before I start cutting big corners in that department.
Eating good healthy food prepared at home has more benefit than a few bucks a month more in the bank account.

There's a lot of fat in my food budget. I eat pretty high on the hog, though I have slacked off on buying ribeye. You can still pick up tri-tip for $3.47/lb. locally, and I just bought a ham butt portion for $1.88/lb. I made a pot of navy beans and ham with the bones and rind from the last ham, and was shocked that the really big market I shop at was out of navy beans. None. No great northern or kidney beans either.

It might seem like paying $18 for a 10 lb. ham is a budget buster, but the ham meat went to a couple dinners, a couple omelets, a big batch of mac 'n cheese, plus the big pot of navy beans. Call it $1.50 per meal, $2.00 with other ingredients. Cooking is key to thrift. My dinner last night was a baked potato topped with sloppy joe. The sloppy joe is only about 1/3 burger. The rest is onion, tomato sauce, and seasoning. Cheap eats.

Our Thanksgiving feast this year will be Dungeness crab, steamer clams, and green salad tossed with caviar, fresh baked bread rolls, and a good white wine, probably a dry Riesling, with Marionberry pie, whipped cream, and good coffee for dessert. I'll leave the turkey and dressing for people who don't live near the North Pacific. The ingredients alone will run over $30/plate, but it's a feast day. We don't eat like that often, and would never pay the over $100/plate price in a restaurant. With transportation, tips, and drinks, dinner for four would run about $600. Forget that.

 

[zzvyb6]

As hyperinflation takes hold (a year's price increase rate in 1 month), I'm seeing register prices way above shelf prices. A shop can just go in and increase all items in 1 swell foop and not bother to nick the shelf or package prices. I'm waiting for a Giant Size chocolate bar to be $3.00 and be the size of a postage stamp.

 

[5030]

My wife just bought me a new watch from Walmart 2 weeks ago. Last night I looked at the same watch on Walmart's website and it increased 8 bucks in price.

 

[ruffdog]

If the woodstove is going we cook things like chili or tomato soup on it instead of using the electric stove. We also canned 47 quarts of tomatoes from two plants. We have a bunch of potatoes in the basement and 27 quarts of Acorn squash froze. We never throw leftovers away...if it makes a turd, we eat it.

The best way to save money is if you are content with your life. We are not buying a bunch of stuff because we are happy with what we have. If you go into debt because you over extended your self, you become a slave to your accumulated stuff.

 

[5030]

Exactly. With us, farm is paid for so the only liability is taxes and insurance. Same with the vehicles and we heat (both the house and the shop) with a corn burning stove so no gas (propane bill) either. Only utility bill is the electric and I've managed to trim that pretty well too.

 

[ruffdog]

There is 2 types of inflation. One is monetary inflation that is connected by economic policy and the amount of money in the economy. The fed since the spring of 2020 has been taking on $120B a month in QE (quanitive easing) assets and that was to free up cash in the economy but would probably cause monetary inflation. The Fed has now said they plan to taper back QE by $10B per month.

The other inflation that is what we are mostly seeing is supply and demand inflation. People want to buy cars/trucks/tractors and they are not on the lot so the price goes up. The shelves at the stores don't have the items we want so the price goes up. Once supply matches demand, the prices should realign again.

I agree with what I have heard....that Covid and the supply chain issues won't be resolved until post 2022.

 

[5030]

I agree with what I have heard....that Covid and the supply chain issues won't be resolved until post 2022

Hears the same thing as you and that is why buying a tractor or implements right now is an exercise in frustration. IOW, gonna get worse before it gets better.