Coping with rising prices of basic commodities
By psyche49f
@psyche49f (2502)
Philippines
April 19, 2008 11:48pm CST
I am a mother, and I would like to share first on what I am doing to cope with the spiraling prices of food, oil and other basic commodities. This is now an area of concern for all of us, I guess. Never has been in the history of the world that the oil prices hit rocket high, at more than $100 per barrel. So everyone now feels the pain in one's budget. I now cut back on shopping...will only do if it is really necessary. I already said goodbye to credit cards, and anything that is purchased on credit, unless again necessary. I never do unnecessary trips, and have to plan it so as not waste precious gasoline. We are also saving on electricity, water, even rice which has become so expensive nowadays. But I can live days without rice, just bread will do. Our telephone bills are also less because we don't call long distance anymore...we have our cellphones, and texting is much cheaper. We pay our bills on time to avoid unnecessary interests and penalties. These are among our belt-tightening measures at home. I'm sure fellow mylotters have also other tips which we all could learn from. Please share....
2 people like this
9 responses
@dolce_vita78 (8062)
• Philippines
20 Apr 08
I think most of the things you have on your list are also on my list. 
I also have said goodbye to my other credit cards. I just retained two: one is that which I often use when I go abroad and the other which is an extension of my dad's credit card. I don't really use credit card often especially lately. I also have cut down on my shopping and I only do when there is a need for it. I only use my car now when I go to work. When I do not have work and I need to go somewhere, I either take local transportation or walk if possible. I am so frustrated with the price of gas! 
I do not eat out as much as I did before. I would rather cook my own food or do the grocery and request my dear boyfriend to cook. I use my spare time to work double time on the accessories that I sell to earn extra income.
I also have said goodbye to my other credit cards. I just retained two: one is that which I often use when I go abroad and the other which is an extension of my dad's credit card. I don't really use credit card often especially lately. I also have cut down on my shopping and I only do when there is a need for it. I only use my car now when I go to work. When I do not have work and I need to go somewhere, I either take local transportation or walk if possible. I am so frustrated with the price of gas! I do not eat out as much as I did before. I would rather cook my own food or do the grocery and request my dear boyfriend to cook. I use my spare time to work double time on the accessories that I sell to earn extra income. 1 person likes this
@psyche49f (2502)
• Philippines
21 Apr 08
Really..just like you, we don't eat out anymore to cut down on food expenses...
@rosettaresearch (1285)
• United States
20 Apr 08
Thos are all incredibly good ideas. In fact, you should pay your bills on time and not use credit cards even when prices go down. That way you save on interest charges and other fees. Which means more money for you to do what you want.
I just try to find the cheaper meals in the store. Although, I stay away from the prepackaged box meals. Pasta Roni, etc. are cheap but incredibly high in salt which can lead to other problems. One thing I do is make my own spaghetti sauce. Then I boil up a whole bunch of noodles. I then reheat whenever I need a meal. It can last me quite awhile. Noodles are like 50 cents a box (I stock up when on sale). The stuff for the sauce is fairly cheap too.
1 person likes this
@plumwish07 (4057)
• Indonesia
23 Apr 08
its really sad condition at this moment and we can't do nothing except try to be survive and spending every single pennies wisely. although i am not yet a mother, but i am a wife so i should manage my house hold to face this condition
what i done at this moment are, trying efficiently in usage of electricity and water so that i can minimize the bills in next month. not buying any snacks again. i am going to buy food, if i am really hungry. buying clothes only if the clothes needed to replace with the new one. thats i am doing to minimize the expenditure
what i done at this moment are, trying efficiently in usage of electricity and water so that i can minimize the bills in next month. not buying any snacks again. i am going to buy food, if i am really hungry. buying clothes only if the clothes needed to replace with the new one. thats i am doing to minimize the expenditure
@xtedaxcvg (3189)
• Philippines
20 Apr 08
I'm about to get married and I'm saddened by the fact that we are faced with these problems. We don't have much saved on the bank and that's a bit difficult for us first-timers. I do thank you for your tips and I'm sorry if I don't have anything to share on this. Will keep you guys posted if ever we come up with other ways on how to cut back on expenses. Thanks again.
1 person likes this
@nengs10 (3180)
• Philippines
22 Apr 08
Yes, in our society, all the prices of commodities have increased over time. And I would say, it has somehow affected our budget in the house. We cope with this situation through lessening our consumption of meat; thus, eating more vegetables and other products that are cheaper in some sense.
@williamjisir (22819)
• China
20 Apr 08
Hello psyche. I appreciate your sharing with us how to save more budget at this stage of high-price life. Yes, everything is on the rise and once the price is increasing, it seems to be very difficult for it to come down again. I am wondering what is wrong with the global economy and why the price is going higher and higher. I cannot bear the upgoing price in the hope that we will be living the normal average-price life that we used to some day soon. Well, when I go to supermarket for some shopping, I won't buy espensive things, but moderate and cheap things, but good in quality...Thanks.
1 person likes this
@psyche49f (2502)
• Philippines
20 Apr 08
Really, it's so unnerving to think about...but we really have to survive this crises by doing drastic measures such as buying quality, cheap foods instead of the usual stuff we get from the supermarket. We have to be wise and survive this global economic crises. We are really at the mercy of this cycle of spiraling prices of prime commodities, especially oil. Once it continues to go up, the result, I'm sure would be another round of price increases. I don't want to even think about it.
@lucy02 (5016)
• United States
21 Apr 08
I am doing a lot of the same things as you. I also buy generic brands when I can and shop at salvage (bent and dent) stores. I have always been a yard sale fanatic so that helps too. I check out library books instead of buying books.
@peisiyi (123)
• China
20 Apr 08
in terms of the household expenses,i seems to rarely have any kind of experience to share something like what you have listed above,in theory,i can offer you what i imagine on this issue that you confront with.
first,you should set up a strategy as a whole to purchase any basic commodities.in this case ,it will make it clear that what exectly you need mostly,and avoiding the possiblity to cause some waste when it is not what you need at all in the future .
second,after one month's all kinds of bill comes down, you have to check it out to make sure that something should be crossed off when you find it not the necessity in your life .
third,a family is a organization made of several persons .so, you have to take others in consideration.it is not enough for you alone to lead a belt-tightening life ,insteadly,it is a good way to educate your children to realize the reality of the market and the finical situation home and told them the importance of saving in all round ways,which i think is not only good for the saving in spending ,but a good sense of management of money for your children.
@meecoko (62)
• United States
20 Apr 08
Yeah I hope the next president will be able to set us back on a much more friendly on the pocket path, lol. Hope being the key word. I believe the crude oil prices are driving everything up. And with the race for fuel alternatives, corn is on on the up and up, which raises the price of most food, since corn seems to be in everything. It all just majorly sucks.
