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How Inflation Will Impact Our Holiday Plans

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How inflation is impacting the holidays

Inflation is hitting everybody hard this year. Prices are through the roof. In fact, the price of turkey alone has gone up 23% in the last year. Eggs? 35%. So, getting together for large meals with all the traditional foods may be a bit more difficult this year. Here is how it will impact our holiday plans.

Inflation: A Look At The Numbers

While many government officials have been hesitant to use words like “recession” and “inflation” when speaking about the United States economy, everyone is feeling it.

@districtmediafinance Thanksgiving dinner is looking a lot more expensive this year. #greensbeanspotatoestomatoes #thanksgiving #savingmoney ♬ GREENS BEANS POTATOES – DJ Suede the Remix God

Though the upbeat song in the video above makes you feel a little less anxious about it, the rise in cost of everyday essentials is crippling some families in the U.S. When it comes to celebrating the holidays this year, things are looking very different. People are swapping out their big turkey dinners for something a little cheaper. In some cases, they may choose to skip the big gathering altogether.

Here is how inflation is impacting our holiday plans.

How Inflation Is Impacting Us

This year, we aren’t going to be doing any extensive travel around the holidays. That is the biggest change that will be happening. However, we are also making some changes to our typical menu for Christmas.

Our family typically does a turkey and a ham on Christmas. This year, I am hosting the holiday gathering at my house. We are likely going to only do one main course protein. Sides and other items will be decreased this year as well. After all, it is only one meal. How much do you spend on your weekly dinners?

Tips For Your Family To Beat Inflation

As mentioned in a previous blog post, household debt is at an all-time high in the U.S. For people like us trying to avoid racking up credit card and loan debt, this is simply not an option. How do you still enjoy the season without breaking the bank?

  1. Change the menu. While turkey and ham are the traditional main course items during the holidays, consider changing it up to save money. Swap your turkey for roasted chicken or your ham for a pork loin.
  2. Downsize your celebration. A lot of people get hung up on doing these huge, elaborate celebrations. Downsize things a bit to help you stick to your budget this year.
  3. Find joy in the simple things. The best thing you can do to beat inflation is to find joy in the simple things. A Christmas movie night in your home or driving around to see the lights will provide memorable moments too.
  4. Check out local events. Churches and other organizations in the community may be providing free dinners or items for your holiday meals.
  5. Get help where you can. Whether it is checking the local food bank or asking everyone to bring a dish, it’s okay not to do it all yourself!

How is your family dealing with inflation around the holidays this year? Let me know your tips and tricks in the comments.

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How to Be Frugal With a Newborn

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frugal with a newborn

There is no doubt that having a baby absolutely changes your life. It is a challenge to adjust to such a huge change and maintain progress on financial goals, let alone stay on budget. Needless to say, our monthly budget has been looking rather neglected and ignored recently. This has led us to look for ways to be frugal with a newborn and make the most of our money.

Is It Possible to Be Frugal With a Newborn?

The biggest cost for our family since having a baby has been food. Sometimes you are just too exhausted to cook. So, we wind up ordering food or hitting the drive thru so that I can continue working or tend to a crying child. It’s understandable and we’ve tried to not be too hard on ourselves for it. But it is money wasted and that will always bother me.

That being said, it is possible to be frugal with a newborn. You simply need to find where your problems areas are and focus on improving there to be successful at it. Here’s how…

How to Be Frugal With a Newborn

There are a few steps you need to take to being able to be frugal with a newborn. Frugality is more than just looking for the best deal or pinching pennies. You have to consider long-term wear items and contributing financial factors.

  1. As I just mentioned, you need to be able to identify what your problem areas are. For us, we overspend on easy food. Think about how you can resolve the issue. For example, our family sticks to our grocery budget better if we meal prep and plan. It takes a little additional time but it will save us hundreds per month. Similarly, when our newborn starts eating different foods, we will make her meals as well to help save money.
  2. Invest in quality items. Like I said, frugality isn’t all about pinching pennies. If you are going to use an item every single day or with your children in the future, spend a little extra money. It will keep you from having to buy it again. You may even be able to resell it once you’re done using it.
  3. Hit the consignment shops. Buying secondhand clothing and other items is a great way to be frugal with a newborn and kids in general. They outgrow their clothes and toys so fast, so why spend a ton of money on those things? Not to mention, some stores will allow you to sell your child’s items for a store credit or cash.
  4. Don’t stress experiences now. Until they are older, you shouldn’t spend too much money on experiences for your child. Of course, you want to have those memories but they won’t remember much. As a newborn, they won’t remember anything. Save your money and put it aside for creating memories when they’re a bit older.

These are just a few things we’ve discussed that will help us be more frugal with our newborn and stay on track. What are some of the ways you have saved money with children?

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