5 Ways to Beat Inflation And Potentially Put Money Back in Your Pocket in 2023

Maximize your checking account and pay NO fees.

Do you pay checking account and/or ATM fees? If you do, you should investigate a checking account that does not have monthly fees, offers free ATMs and moreover, rewards points on your debit card usage. That is a WIN-WIN. Just in case you were wondering, yes, Ridgedale FCUs checking account provides all these benefits! https://ridgedalefcu.org/online-services/checking/

Reduce what you pay to the credit card companies!

Do you carry credit card balances? If you do, then you may be able to reduce what you pay in monthly interest by lowering your interest rate. The national average rate on a credit card to a consumer with the best credit rating is 16 -18%. These rates go up as the credit score goes down, some as high as 28%.

It takes a few minutes to compare card rates, apply and do a balance transfer to a lower rate card should you qualify. Let our loan team assist you through this process.

Grocery shop with purpose.

This seems like a no brainer; however, it is easy to over buy and make impulse decisions when we are rushed, hungry or forget the list.

Make a list and stick to it. Pre-plan meals, and plan for leftovers. (Think about lunch the next day.)

Embrace the less expensive store brand. So many products, such as toilet paper, aluminum foil, and trash bags are of the same quality as the name brands but are less expensive.

Look at unit prices. It is most often cheaper to buy larger quantities.

Clip coupons. Either look through the circulars you get in the mail or download your grocery stores app for weekly coupons. With most apps, it matches your phone number to your order and automatically gives you the sale price. Ask the clerk for details.

Consider following people like @Karlasavings on social media. She and people like her scout all the best sales for you and post online.

Get the most from your savings balances.

Interest rates are up. Are you getting the highest rate you can on your savings balance? Look at the rates on basic savings, money market and certificate accounts. Start with the rates here at Ridgedale FCU, https://ridgedalefcu.org/rates-2/

Insurance.

Have your insurances reviewed for potential lower rates. We see ads from a variety of insurance companies, all claiming to be able to save you money. Give it a look, you can save $600 a year. You can get a quote from our insurance partner TruStage, as a part if your comparison shopping, https://ridgedalefcu.org/investing/insurance/auto-home-insurance/

Do not let yourself become overwhelmed by these steps. Try one at a time. Share the efforts with another family member or a friend. Make it into a game among your friends or family, see who can save the most money.