Inflation has one positive side. Dollar stores are becoming more popular than ever. It’s just too much fun to wander the aisles of a store that promises something it doesn’t offer: something for a dollar. Although I didn’t find anything beyond what I expected at Bed Bath & Beyond either.
Dollar stores are a great option if you’re looking to save money or simply have some fun.
Angel Fire, New Mexico has a dollar shop that seems to have no stock. The majority of the items are still in boxes, and are on the ground. This is an adventure! It’s like walking through a warehouse. You never know what you might find.
Although you’ll likely save more per item if you shop at huge wholesale clubs like Costco, BJ’s, or Sam’s Clubs, I still feel a bit raw after shopping in big box stores. You can see the whole story in the receipt, which is a yard long.
Save a Dollar but don’t spend too much
Impulse buys are what get you. As I’m reminded of the ways to save money shopping at dollar stores or discount clubs, you are welcome to look over my shoulder. These are things you know, and I also know them, but we could all use a gentle reminder.
-
Shop without hunger.
-
Don’t waste your time on the T-shirts at the checkout; there are plenty.
-
Although the toothpick sample is delicious, it will likely end up in your freezer for a few years before you throw it out.
The American Journal of Public Health published research that found dollar stores to be the fastest-growing type of food retailer in terms of household spending. It grew nearly 90% between 2008 and 2020, according to the American Journal of Public Health. This is still a small percentage of total food purchase volume (2.1% for 2020), but it could have an impact on public health.
The report stated that these foods are more calorie-dense and less nutritious, which raises public health concerns in low-income and rural areas, where access to food is often most difficult.
Consumers face the challenge of making smart buying decisions that are both financially sound and healthy. We now have…
Your health is the wild card to wealth
Although it may seem difficult to save and plan for your life after work, it is possible. You can also use this time to save for an emergency or fund your children’s education. Your health is the biggest threat to your financial security, especially if you have to recover from mental or physical setbacks.
A couple 65 years old and over could need to save around $315,000 for their retirement health care costs. Fidelity’s study shows that this is after-tax money.
Recent news stories about celebrity health issues serve as reminders. Celebrities, from those in their 20s through stars in their 60s have shared their stories of chronic back pain, depression, multiple-sclerosis, multiple sclerosis, and dementia. They are usually able to weather downturns because they have the financial resources.
It will require some planning for the rest of us.
A guide to the basics
You’ll first need to verify the emergency fund balance. Is it possible to cover three months worth of essential living expenses with your emergency fund? Then:
-
Your health insurance should be adequate. This could include long-term and disability coverage. According to The Commonwealth Fund, 43% of Americans working had insufficient health insurance by 2022.
-
Consider the pros and cons to a HELOC (home equity loan). These loans allow you to increase the value of your house without having to sell it. Although you may not wish to get a loan immediately, it is possible to borrow money to cover unexpected expenses. You don’t want your home to be at risk if you have a difficult financial situation.
-
Start researching your Medicare options as soon as you reach 65.
It’s not just about increasing your net worth, but also strengthening your financial position.
Maintain a low debt level and make sure you have plenty of credit available. This is a problem right now, with household debt rising in the fourth quarter 2022. According to the New York Federal Reserve Bank, credit card balances have risen above pre-pandemic levels. Mortgage and auto loan balances have also increased. The number of delinquencies was also higher. Check out our seven tips for getting out of debt if you feel stressed.
While you wait, these six options will help you pay off your medical bills .