Steph Melgaard
Retail Banking Director
steph.melgaard@border.bank
701-630-2629

With inflation at a 40-year high, just about every American family is feeling the impacts on their day-to-day living and needing to adjust. Read on for some of our top tips to navigate rising prices.

Budget: Now is a good time to create or update your budget. Review your spending habits closely and consider any opportunities to cut back – especially on items you may not miss or that don’t significantly contribute to your overall quality of life. It can be particularly beneficial to review any subscription services you have to determine if you are still getting value out of them. These types of expenses can be almost too easy to “set and forget”, but don’t let them chip away at your budget if they no longer serve your needs or are a priority.

Negotiate: See where you may be able to save some hard-earned dollars by negotiating for reduced pricing on your ongoing expenses. You can often secure a lower rate on things like cable and internet, home and auto insurance, gym memberships or cell phone plans simply by asking. Many companies offer occasional promotions, lower-tier plans or packages or loyalty pricing that could help reduce your cost. You can also shop around for lower priced alternatives or take advantage of new customer specials if they are available.

Food Spending: Consider budget-friendly spending approaches like meal planning and watching for sales or coupons as well as buying in bulk and in season. Meal planning can ensure you use ingredients efficiently throughout the week, limit waste and focus meals around sale-priced ingredients. You can also stock up on non-perishable essentials when valuable sales or coupons come around or consider shopping at a warehouse store that may offer larger quantities at reduced prices. Purchasing in-season produce and taking advantage of local farmer’s markets or CSA farm shares can also be great ways to save!

Technology: Use Border Bank’s electronic banking tools to help you meet your budget and spending goals. Our Online banking enables you to easily categorize your spending and budget expenses. You can also manage your money and spending on-the-go with our convenient mobile app. Reach out to a Border Bank Relationship Banker today to discuss all the easy helpful and FREE electronic banking features that can help you with budgeting, spending and much more!