By: John Brown
Many people are familiar with the term “inflation,” which refers to the general increase in the prices of goods and services over time. However, shrinkflation may be a new concept for you. Shrinkflation is the insidious phenomenon of products shrinking in size while prices remain the same. Companies often do this to save money, leaving consumers feeling ripped off.
If you are stricken by this phenomenon and need extra cash to keep you afloat until the next payday, applying for a payday loan can help. Various online lending platforms provide hassle-free and fast Send loans straight to your bank account.
This post will look at five ways you can fight shrinkage and keep your savings high! With a little effort and research, you can protect yourself from the negative effects of shrinkage.
Buy generic drugs
The first way to combat shrinkage is to buy generic drugs. Generics are often just as good as branded products but cost less. You can often find a generic product exactly the same size as the branded product! This allows you to save money without sacrificing quality or quantity.
Calculate the unit price
You can also combat shrinkage by calculating the unit price of products. Unit price is the price of a product per unit of measure (usually per ounce, per pound, etc.). If you know the unit price of a product, you can compare it to other similar products to see which is the better deal. This is particularly useful when products in different quantities are shrink-wrapped together.
Buy in bulk
When you buy in bulk, you can often get a lower price per unit than if you bought the same amount of product individually. This can be a great way to save money, especially if you find a good sale on bulk items.
Use cashback apps
You can also use cashback apps. These apps return a percentage of your purchase price in the form of a discount. Some of the most popular cashback apps are Ibotta, Ebates, and Swagbucks. These apps can help you get back some of the money you would have otherwise spent on shrink inflation.
Profit from the sale
The fifth and final way to combat shrinkage is to use sales. Sales are a great way to get the products you need at a lower price. Plan your shopping after the sale so you can save some money.
In summary, shrinkage inflation is a serious and sneaky problem, but it doesn’t have to put a dent in your wallet. There are several ways to combat shrinkage, including the tips above. The government can also regulate prices to prevent this. It is important to remember that shrinkage affects us all and we must work together to combat it. With vigilance and action, we can protect ourselves from the eroding purchasing power of our currency and prevent our hard-earned cash from shrinking.
John is a financial analyst, but also a man with other interests. He enjoys writing about money and giving financial advice, but can also delve into relationships, sports, gaming, and other topics. Lives in New York with his wife and a cat.