Opinion | Budgeting is key during inflation
Photo courtesy of 401kCalculator.org/Flickr
Columnist Axel Almanza suggests that budgeting and acquiring a cheaper life style are key skills when it comes to the recent inflation.
March 19, 2022
“Increasing,” “unaffordable,” “burden.” These are probably words you are hearing with the recent rising in prices due to inflation. During these pivotal years we have from 18-22, there is so much money we utilize to satisfy our needs. Like buying the new Jordans coming out on StockX or maybe there’s a party coming up with a cover fee, nobody likes to talk about what we need to buy — let’s not forget about our food and rent.
We have to stop looking at “cheap” methods that save you money as negative. There are many helpful ways that one person could purchase a multitude at a lower cost.
One way a person can save money is by shopping at grocery stores with affordable prices. Aldi is known for having non-brand items for a good bargain. When shopping at these stores, you’re not cheated by others that have gouged the price of an item, which you could have gotten cheaper elsewhere.
At the end of the day, your meal is going to taste the same even if you shop at a place that doesn’t have many brand names.
Another way a person could save money is by walking or taking public transportation. Currently, many students take the bus to school. Due to the Ukrainian invasion, gas prices are rapidly rising. Countless people are struggling to pay for gas and wonder how they could get from point A to point B. This is why taking the bus or utilizing other public transportation methods are more suitable options.
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By taking the bus, you’re one step closer to those Jordans.
There is also the idea of having a rainy day fund: a storage of money being saved in case of emergency. To achieve this, take a portion of your pay check or bank account and place it somewhere else — find your pink glass piggy bank. When the unexpected happens, like a dreadful trip to the hospital, you can dip into your special fund to assist with the payment.
Regarding inflation, we have two options: Catch up with the prices or change how we buy things. As students, you could make life easier for yourself by finding cheaper alternatives, budgeting and affording to live in style. You can do it all; it’s possible if you save.
Axel is a sophomore in LAS.
