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Budgeting for Inflation

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Budgeting for Inflation - A Fiscal Femme Anonymous Survey

How inflation (rising prices) is impacting our community’s money habits.

Prices are way up and it’s definitely impacting the wallets of most. Want tips to rescue your wallet? Want to hear how others are adjusting?

We’ve got your covered. Let’s get into it.

RESULTS FROM A FISCAL FEMME ANONYMOUS SuRVEY on BUDGETING FOR INFLATION

QUESTION 2

Has inflation impacted your major life decisions like moving, getting married, having children, etc.

  • 80% - yes

  • 20% - no

The major life decisions impacted:

  • 31% - moving to a new apartment / moving out on own

  • 21% - buying a home

  • 17% - having kids

  • 7% - home Repairs / home improvements

  • 7% - retirement

  • 7% - savings goals

  • 7% - buying a car

  • 3% - getting married

Specific thoughts from those who said yes:

  • The rise in interest rates has stopped me from buying a house anytime soon

  • Not sure we are going to have another baby - IVF, daycare, etc.

  • Rent is sky high so I'm staying in an apartment I don't love because it's more affordable

  • Moved in with roommates to save money

  • Putting off moving because rent or buying is so expensive

  • Moving in with a friend after living alone for 6 years

  • Can't afford a new home until rates come back down

  • Rethinking how we save for retirement

  • All of a sudden I'm living paycheck to paycheck. How?

  • Reluctant to have kids

  • Put off buying a new car and large home repairs

  • Was borderline wanting kids but it's too uncertain now

Specific thoughts from those who said no:

  • Nope, been stacking bills for years

Some specific shares:

  • No more "fun" purchases for now (ex: new top)

  • Travel

  • We haven't had to reduce but it's made us more aware of what things bring value


QUESTION 4

what are some tools and tips you use to deal with inflation?

  • Meal prep / batching meals (groceries are much more expensive)

  • Challenge myself to go as long as possible without grocery shopping / use items in the pantry

  • Find free / cheap things to do with friends (one person got into hiking)

  • Do less / go fewer places / drive less

  • Budget in more detail - every expense

  • Use coupons / shop flyers

  • Buy Series I savings bonds

  • Buy nothing group

  • Use rewards when I can

  • Know where the cheapest gas is

  • Eat at my parents house

  • Save all the extra money (every $1 helps)

  • Bulk buy when I can

  • Buy less fancy cuts of meat

  • Buy fresh food vs. packaged

  • Get a new job

  • Ask for a raise

  • Only shop sales

  • Only buy food at Trader Joe's

  • Focus on side income / side hustle

  • Only drink coffee at home

Some specific shares:

  • Eat a lot more at home

  • Bring food to places / activities

  • Put off date nights out - cook at home

  • On food stamps so it doesn't matter much to me

  • Choose more affordable dishes when I do order out

  • Cook vegetarian - animal proteins much more expensive

  • Nope, I just spend more now