Hacking your budget in an uncertain economy

The latest inflation numbers spell out bad news for Americans on a budget. Consumer prices have risen, with no real projections for when groceries, gas and household items might get cheaper. 

As a result of increasing costs, experts have detected some troubling trends: a growing number of households are relying on credit cards to cover everyday expenses and utility bills, and the average credit score dipped last year. Food banks say they are feeling the strain too, as more people turn to non-profit organizations for help. 

But Americans are also finding creative, even unorthodox ways to save money. Challenges like a “no spend month” are trending online; families are carpooling or splitting the cost of popular memberships; there are a plethora of rebate apps offering cash back for your grocery receipt; and good old-fashioned couponing might be in-fashion again. 

On this episode, useful tips for saving money right now, on everything from toilet paper, to beef, to your credit card interest rate. 

Guests

• Wendy de la Rosa, assistant professor of marketing at The Wharton School at the University of Pennsylvania
• Michelle Singletary, personal finance columnist at The Washington Post