From: 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, contraction may be a new concept for you. Shrinkflation is the sneaky phenomenon of products shrinking in size while prices stay the same. Companies often do this to save money, leaving consumers feeling ripped off.
If you’re affected by this and need extra cash to keep you afloat until the next payday, applying for a payday loan can help. Various online lending platforms offer fast and hassle-free services loans transferred directly to your bank account.
This article looks at five ways to combat shrinkage and maintain your savings! With a little effort and research, you can protect yourself from the negative impacts of shrinkage.
Buy generic brands
The first way to fight shrinkage is to buy generic brands. Generic brands are often just as good as branded products, but they cost less. You can often find a generic product exactly the same size as the brand name product! This way you can save money without sacrificing quality or quantity.
Calculate unit price
You can also combat shrinkage by calculating the unit price of products. Unit price is the cost of a product per unit of measure (usually per ounce, per pound, etc.). When you know the unit price of a product, you can compare it to other similar products to see which one is better. This is particularly useful when products are shrink-wrapped in different quantities.
When you buy in bulk, you can often get a lower unit price than if you bought the same amount of product individually. This can be a great way to save money, especially if you can find a good sale on bulk items.
Use cashback apps
You can also use cashback apps. These apps refund you a percentage of your purchase price in the form of a discount. Some of the most popular cashback apps are Ibotta, Ebates, and Swagbucks. By using these apps, you can recoup some of the money you would otherwise spend on shrinkage.
Take advantage of the sales
The fifth and final way to fight shrinkage is to take advantage of sales. Sales are a great way to get the products you need at a lower price. Time your shopping around sales to save money.
In conclusion, shrinkage is a serious and sneaky problem, but it doesn’t have to put a dent in your wallet. There are several ways to combat shrink, including the tips listed above. The government can also regulate prices to prevent it. It’s important to remember that shrinkage affects us all and we need to work together to combat it. With vigilance and action, we can protect ourselves from the erosion of the purchasing power of our currency and prevent our hard-earned money from dwindling.
Authors biography :
John is a financial analyst but also a man with different interests. He enjoys writing about money and giving financial advice, but he can also dive into relationships, sports, games and other topics. Lives in New York with his wife and a cat.