How to save your money in an economic crunch
BOWLING GREEN, Ky – With high inflation comes higher prices. Bowling Green citizens share struggles they’ve faced due to this matter.
Western Kentucky University student, Blake Sanders says, “rent’s been going up and that’s definitely a tough thing to be able to pay. We’ve had to manage different trips and the lengths of trips just because the gas prices have gone way up.”
Sierra Bailey says, “it’s definitely been hard, especially someone like myself who budgets for groceries; maybe $50 a week. And now I’m spending upwards of about $75 or $100 and now of course over the timespan of 4 weeks in a month, that really adds a lot of money.”
Zachary Jones, a financial expert and the Program Manager for WKU’s Center for Financial Success says, “if there was ever a time to have a written budget and to track your expenses, that time is right now.”
Jones shares these four tips on how to save money during economic downfalls:
build a spending plan; economize the things you enjoy; be strategic about dining out; evaluate your subscriptions.
Resources Jones provides are the Kentucky Financial Empowerment Commission Database: https://kyfec.org/financial-empowerment-database and YouNeedABudget: ynab.com