Shopping strategy can help offset inflation

MORGANTOWN, W. Va. – A shopping strategy can save people a lot of money.

“Spend your money faster, buy the things you need, buy it right away,” said Scott Schuh, an associate macroeconomist and associate professor at the University of West Virginia.

Spending money fast may seem like the opposite, but inflation is at a 40-year high and rising. Item prices are rising so fast that Schuh said waiting until the end of the month will cost more to make purchases.

“Even now you have to be careful because you don’t spend too much and you have to put things on your credit cards after the end of the month, but you can save at least a month by buying inflation earlier,” he said. he said.

Buying in conversation is also something to consider. A roll of toilet paper may be cheaper than 20 packs, but each roll of 20 packs is much cheaper.

Schuh says inflation is so high now that used car prices are rising. At the end of last year, the average price of used cars was more than $ 28,000, 28% more than the previous year and 42% more than in 2019. Shuh said selling a used car now might not be a bad idea.

“It’s like selling high and buying low, so switching from a used car to a good used car that is really desirable and that you can probably get a good return that you won’t see again, and taking advantage of that is buying a new car. one that will help you save money if you manage that in your budget, ”he said.

Shopping strategy can help offset inflation Source link Shopping strategy can help offset inflation

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