Inflation and Living on Fix Income
 

Have you notice how prices have sky rocketed lately?

Businesses looking for help.
Raising cost of Transportation.
Grocery's are going through the roof.

Headlines say inflation will get worse as supply's are harder to get.

How are you holding up in your retirement years if on fix income?

Things are becoming seriously more expensive than they were. I don't think it is going to get better. I think that it means that SOME people who live here will not be able to make ends meet.

I'm not noticing that much of a difference. I use coupons when I remember to bring them with me, and I have a few "shopping reward apps" that give me points that I can trade in for store credits. But I've always done that. I also finally learned how to make my sister-in-law's sauce and lasagna. Sounds unrelated right? Well...
$50 in ingredients nets me:

Enough lasagna for two people for 3 nights of lasagna dinner, plus an extra lunch-sized serving or two.

AND

Enough sauce for 4 chicken parmesan dinners

AND

enough leftover meatballs, sausage, and sauce for 2 macaroni and meatball dinners PLUS 3 more sauces for two weeks worth of macaroni and meatball dinners/lunches or meatball subs.

The only thing extra I have to buy, is chicken cutlets, ground beef (on sale on Tuesdays at Fresh Market for $2.99/pound), a loaf of bread for the garlic bread, and a package of salad to last a few days' worth of meals.

Total additional cost might be $25. So $75 for almost two months' worth of lunches and dinners at least twice a week, for two people.

Holding up fine thanks. It's all about managing your priorities and your budget. It ain't rocket science.

I don't really see it. There are supply chain issues with major ports backed up that will cause temporary price jumps. Like lumber earlier in the year - now ancient history.
2-4 % inflation is normal, we just have not seen it for a while because of the very accommodating fed.
Look for a nice hefty jump in your Social Security check starting in Jan as well.

Relax

That seems pretty insensitive.

Not everyone was able to amass a fortune in savings before they retired. Not everyone is even able to quit working when they come down here. Seniors on a fixed income - usually spend according to their means.

But when the cost of those means goes up..

They can no longer afford those things. In some cases, it's health care. In some cases, it's food. And in some cases, it's mortgage.

I know some people don't like charge cards, but those credit rewards really build up over time.
Yes, using coupons are another way to save.

Aldi's saves us a lot compared to Publics and even Walmart on some items.

Dollar store is still full of one dollar items, so I'm good. :icon_wink: But yes lots of inflation since Covid.

Are we going to believe the "nothing to see here" crowd or our own lying eyes? We've all been experiencing inflation, which is a at 6% and that's probably a conservative estimate. We have all encountered shortages of goods at stores or rationing, higher gas prices, higher costs at restaurants, grocery stores/retail, etc.

There's still a noticeable shortage of workers at most retail and service-related businesses. Costs to remodel or improve your home and construction costs in general are very high and continuing to climb despite your claim about lumber prices. Let alone getting labor to do the jobs. And you can't even buy some things like new cars, golf carts, boats etc. and used prices for these things have skyrocketed. You wanna talk about supply chain issues? The real fun has just begun, there's more misery on the horizon.

2-4%??? Evidently you don't buy gas or food and I feel sorry for anyone needing appliances or to replace their car. The price of steel has more than tripled and it ain't ancient history, those who were ready to buy a home have found that the home they can now afford is not the home they were hoping for. 2-4% is not even close to being realistic. Lumber, although down from it's high in May is is not ancient history, it is still nearly 30% higher than a year ago and is forecast to go right back up by the end of the year along with just about everything else. This is not over by a long shot and I do truly feel for those who are on a fixed income.

COLA should be about 6% in 2022.

Their China shipments will be slowing down….

"Should Be" are the key words. They will find some reason to make it closer to 3% either by saying it's only a temporary increase in costs or Medicare can't afford what the adjustment "should be".

If you can't get by start using a food bank. They are supplied by donations for people that can't get by.
Don't ever be embarrassed to use a food bank, that's what they are there for. Use thrift stores instead of department stores, lots of like new and even brand new items there for pennies on the dollar. Shop the dollar store for everything else. You'd be amazed at how much you can save by using the resources that are out there and no one else needs to know unless you tell them. Please use these resources. Contact the pharmaceutical companies as well, they have services set up for low income for free or almost free prescriptions.

"most of us live on fixed income, its called a salary. . . "

I don't remember where I heard this from a long time ago, but its true