INDIANAPOLIS — The price of just about everything has gone up and people are noticing it a lot at the gas pump and in the grocery store.
Consumer prices have jumped more than eight percent in the last year and it’s caused some to change what they’re doing and how much they’re shelling out.
“It’s hard because it’s expensive,” Aaralyn Mills said.
Mills said she only fills up her gas tank halfway now because of the jump in prices. She helps her retired dad out of with groceries and is struggling to afford the basics.
“When it comes to groceries, I just honestly haven’t been eating as much as I used to because the more I eat, the more it costs,” Mills said.
Others like retiree Eric Wilcox has had to make some adjustments on his fixed income.
“If I have to make a stop at the drugstore and the food store I make it all in one trip so that way I don’t have to make multiple trips so that saves gas,” Wilcox said.
Andy Mattingly is the Chief Operating Officer at Forum Credit Union and has some tips for people to cut costs as prices continue their climb.
“What we trying to tell people a lot of times is that you got to do a lot of little things,” Mattingly said.
Mattingly suggests carpooling or even opting for a delivery option when available to save on gas. He said consolidating trips can be a big gas saver as well.
When it comes to grocery shopping, Mattingly suggests taking advantage of store deals when possible.
“Become a frequent shopper, get discounts, get coupons download digital coupons,” Mattingly said. “Those can add up.”
The rising prices may have people dipping in to their savings in order to make ends meet, but Mattingly said that should be a last resort.
He suggests temporarily decreasing your contributions to retirement or savings accounts, but advises against stopping them all together.
“You don’t want to be completely without any savings because that puts you in a really bad situation if something really bad were to happen,” Mattingly said.
Mattingly said it’s best for people to make little changes now in case inflation stays long-term.