Life today is expensive. There’s no way around it. Prices for common goods have increased due to rising inflation. Inflation occurs when there is an imbalance in demand and supply — basically, there are too many dollars chasing too few goods. And so the cost of those goods begins to rise.
While the federal government tries to control inflation, it’s not always possible. As a skilled worker, you may find your income is failing to keep pace. Since you can’t control inflation, the best you can do is to try to spend wisely. Whether you’re a contractor, self-employed, or employed by a small business, there are ways to save a buck or two. Keep reading for three ways skilled workers can ease inflation’s sting.
1. Shop for Factory Seconds
As a skilled worker, your daily attire likely differs from someone working from an office cubicle. You probably need more durable apparel and gear. Your job may require a water-repellent jacket, cargo pants with utility pockets, flame-resistant shirts, or all of the above. Showing up without the proper gear won’t help you get your job done better or more efficiently. Not to mention, it can be quite dangerous in some instances to do your job without appropriate clothing.
Such clothes come with a hefty price tag, as they are made to stand up to the toughest conditions. Fortunately, there are places online to score deals on durable workwear. Buying Carhartt seconds will save you money, and you won’t notice a difference in quality or construction. These factory seconds may have a small stitching error or discoloration, meaning they didn’t pass the brand’s inspection. However, they are still high-quality products that are made to last.
When shopping for new clothes, take inventory of what you currently have. Just because something is discounted doesn’t mean you necessarily need it. Look at your closet and determine the types of items you need to replace or what you can wait on until next season.
2. Save on Your Commute
Getting from point A to point B is an expense in itself. In most cases, skilled workers don’t have the leisure of working from home. In fact, depending on your line of work, you may be driving quite frequently, making service calls for various jobs. According to AAA, taking fuel costs, car insurance, maintenance, tires, and car depreciation into account, each driven mile costs roughly 55 cents. You can do the math and see that even minor trips down the road add up fast when you’re making them all day.
Saving on your commute varies on where you live and the nature of your job. If you’re a painter, for example, you likely need a large truck to hold your supplies. Driving is a must for you, no matter if the job is just a few miles away. Moderating your speed, avoiding traffic, and knowing which stations offer discounted gas are just a few ways to save. If you can, carpool with someone else working at the same job site and split the cost of gas.
If you’re a dental hygienist or nursing assistant, you may not necessarily need to drive yourself. Maybe you live in a city and find that taking public transportation is an easy way to save. Some cities, such as New York, offer discounted rates for people who take the subway multiple times a week. And if you’re up for it, many cities offer public bikes with a minimum fee for riding. Check to see whether your city or even your place of employment offers any type of incentive for using public transportation.
3. Cut Down Food and Beverage Costs
It’s tempting to grab a cold bottle of water or soda from the convenience store — particularly if you work outside in the heat. But you’ll likely find that you’re paying more for that beverage than if you bought it from a regular grocery store. You’re certainly spending more than you would if you brought a filled water bottle from home! One way to keep more money in your wallet every day is by reducing food and beverage costs.
It all starts with thinking ahead and doing a bit of planning. Instead of grabbing a bagel and coffee from Starbucks or a sausage biscuit from McDonald’s, make your morning meal before you leave the house. A home-toasted bagel and home-brewed cup of joe will get your morning started for a fraction of the cost.
Another way to cut down on food costs is to use coupons and shop at discount stores. Buying non-perishable items in bulk from big box stores will cost you less in the long run. Scanning weekly flyers for grocery stores can help you plan meals on the cheap. There are also apps such as Ibotta, Checkout 51, and Fetch that allow you to upload your receipt to earn points. You can turn these points into cash or gift cards to use at other stores.
Taking Control
You are likely feeling the pressure of inflation. Nobody knows exactly how long it will last or to what extent, which is why it’s important to get a handle on your spending. Cutting your expenses takes a bit of work, but your wallet will thank you. By adopting these three tips, you’ll see your bank balance increase and feel less stressed by today’s economic situation.
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