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In 2026, inflation has become one of the main causes of financial strain on the average person. The cost of nearly everything has gone up and there seems to be no end in sight. What do you do when your paycheck doesn’t go quite as far as it used to, despite having essentially the same habits and lifestyle? There are ways to help fight the effects of inflation and help ease the burden on your bank account. 

Compare Your Food Spending

How do you know if you're spending too much on groceries? While every household is different, there are helpful benchmarks available. The U.S. Department of Agriculture publishes a monthly Cost of Food Report that estimates average grocery costs by age, gender, and budget level from thrifty to liberal. Comparing your spending to these guidelines can help you see whether you're above, below, or right in line with the national averages. You may be surprised by what you find.

Reduce Grocery Bills

There are lots of ways to cut back on the amount you spend on groceries. Try cutting back on buying expensive brands where you can. There may be some items that you can’t part with, but there are likely many more than you can. Start trying the store brand and eliminating the higher cost items where you can. Swapping meat for veggies or pasta a few nights a week can save you a lot of money.

Start looking at the weekly ad for your grocery store and making a list. Limit your list to items you actually need and only buy what’s on your list. When the grocery store has a sale on non-perishable food items, stock up on them. Canned goods, pasta, dried beans, and rice will all stay good for at least a year. Purchase meat in larger packages at a lower price per pound and freeze it. For example, purchase a 5 Lb. package of ground beef and portion it into five 1 lb. bags for freezing. Many people don’t realize how many things can be frozen. The Farmer’s Almanac offers some guidance on how to freeze food and what kinds of food you can freeze.

Save On Fuel Costs

The cost of gas these days is hard to stomach, and there aren’t many ways to find a “cheaper” option. What you can do is start being wise about gas points. If you shop at any local grocery store, most of them offer a rewards program that involves gas points. If there was ever a time to take advantage of these points, it’s now. Many people let their points expire, and even more people don’t even have a rewards card.

Gas rewards are an easy way to save money on fuel. Since most people already buy groceries, why not earn rewards on purchases you're already making? Check with your local grocery stores to see which gas stations accept their rewards points. To maximize your savings, choose a participating gas station that's close to home or along your regular route so you don't spend extra time or fuel driving out of your way.

Another way to help save on fuel costs is to drive less and plan your trips wisely. Combine trips and errands to cut back on the amount you drive. Cut down your trips to the grocery store by making a list and trying to get everything you’ll need for the week at once, instead of multiple trips.

Compare Checking Accounts

Chances are, you have a checking account. You may even have several. Does your checking account offer any type of reward or, even better, pay interest? If your checking account is just a place to store your money you’re missing out on opportunities to stretch your money a little further.

At Citizens Savings Bank, our checking accounts reward customers for doing simple activities like signing up for eStatements and using their debit card. Our free Kasasa Cash Checking® account pays interest, while our free Kasasa Cash Back Checking® account offers cash back rewards.

Those rewards can be automatically deposited into a free Kasasa Saver® account, where they continue to earn interest. That means your checking account rewards help grow your savings each month, and then your savings earn interest, helping your money work even harder for you.

Maximize Your Savings

If you have a savings account, maximize your efforts. You can do this by opening a savings account that earns interest. At Citizens Savings Bank, we offer a several savings accounts to fit your everyday needs. A traditional savings account that accrues interest will help give your savings a boost. The rate of interest you’re able to earn depends on the type of account you have and the rates at your bank.

If you're looking to earn even more interest, consider a money market account. Money market accounts typically offer higher interest rates than traditional savings accounts while still providing convenient access to your funds, including a limited number of checks each month. As your savings grow, a money market account can be a smart next step to help your money earn even more.

A CD, or certificate of deposit, is another great option. CDs typically earn higher interest rates than money market accounts, but they require you to leave your money on deposit for a fixed term. In exchange for the higher rate, you'll agree not to withdraw your funds until the CD matures. If you need to access your money early, most banks charge an early withdrawal penalty. CDs are available in a variety of term lengths, giving you the flexibility to choose the option that best fits your savings goals. In many cases, longer terms offer higher interest rates.

Inflation can put significant pressure on your finances, but there are practical strategies to help offset its impact. By making thoughtful financial decisions and taking advantage of money-saving opportunities, you can better manage rising costs and keep your budget on track.

Learn More

Citizens Savings Bank has multiple locations throughout Lackawanna, Wayne, and Monroe Counties. For branch locations and hours, visit our website. We also have a Customer Support Team ready to answer any questions you may have. Call us today at 1-800-692-6279 or email [email protected]. Member FDIC. Equal Housing Lender.