Inflation is that elusive but ever present economic condition that affects us all, whether affluent or struggling. And while we are feeling the pressure of high inflation, we might not be making necessary personal finance decisions to relieve some of that pressure.

Collectively, we’ve been accustomed to buying what we want when we want it, even if we have to use high-interest credit, causing more financial pressure. For the most part, though, each of us can turn our thinking around to get through the mire.

Buy groceries with the most nutrition when inflation is high

No doubt we have all felt the painful pinch of higher grocery prices, and if we plan to bring lunch to work more often or have dinner at home, then it’s also necessary to focus on the most nutrition within a given budget.

Kristie Jacobsen is nutrition manager at MercyOne, and she stresses that it’s time to go back to basics. Her suggestions below include the things many of us know we should be doing but might not when we’re too busy, stressed or exhausted.

“When grocery shopping, have your meal plan handy and stick to it,” Jacobsen said. “And don’t go to the store hungry or thirsty, because you will buy things you don’t mean to buy.”

Those unintended things could include too many processed items or foods that are too expensive or out of season, which are usually priced higher. Ultimately, the goal is to make the most nutritious decisions within your budget.

“Good nutrition includes variety, so not the same things every day,” she said. “Include all of the food groups.”

Jacobsen emphasized that for fruits and vegetables, buy those that are in-season, but also buy frozen or canned alternatives, too, because the “nutrients are intact” and they’re also budget-friendly options.

When buying meat, Jacobsen recommends buying in bulk since the price ends up being lower overall, and then freezing portions until ready to use. For protein, too, buying “dried beans, peas, nuts” for instance is budget friendly.

“Eggs, too, are very healthy but expensive right now,” Jacobsen said. “But (learn about) farms that sell farm-fresh eggs, which are less expensive.”

Finally, keep waste at a minimum by not buying highly perishable foods unless you know you’ll use them in your meal plan right away, she cautions. And, just as with personal finance, plan ahead.

“I can’t stress enough how important it is to plan ahead,” she said, and that includes both for shopping and for making several meals to keep frozen.

Daily meal plans, too, should combine foods for the most nutritional punch. For instance, Jacobsen recommends that if cereal is for breakfast, be sure to add milk and a banana, or for lunch, to use leftover meat with whole grain bread and perhaps cottage cheese with peaches or homemade soup. (The soup might have come from your freezer after making and dividing a batch of it.)

In short, plan ahead and remember variety.

Back to basics but with a technological twist

One surprising way to plan meal variety within a budget is to use ChatGPT. Amanda Reynolds, assistant professor of social work at Loras College, started using the app this way and finds it useful.

“For my family, I say (to ChatGPT): ‘Please create a budget under $100. I would like to focus on whole foods when possible and protein. Create a meal plan and shopping list.’”

Reynolds finds that using this tool not only creates the list, but helps to reduce “decision fatigue” that can drain mental energy. When starting to use ChatGPT for the task, though, it’s necessary to go through a little trial and error, but it does narrow down some options.

“Often it’ll give me a budget on food groups … and tell me things like ‘spend $25 on protein’ and (it provides) some examples. When I go to the grocery store, I can think about food groups; as in the meat aisle, I can see what deals there are and build from there.”

With so many things that families juggle, especially when it comes to everyday tasks, using technology for assists can be a valuable way to best use time and manage spending.

Overall, whether planning for your future or for your week during high inflation, the message is the same: Make a plan and stick to it. But also consider how best to reward yourself for following through with it, whether by going on a weekend trip or splurging on a dessert.

High inflation might mean keeping a closer eye on finances, but it doesn’t have to mean higher stress — it’s possible to feel good about saving money, enjoying nutritious meals, and getting a little creative along the way.

Keeping personal finances in line with inflation

Chris Noel, financial planner and managing partner at Bridgewater Advisors in Dubuque, says that whether someone is nearing retirement or just getting started in a career, the approach to dealing with inflation is similar.

“When it comes to financial planning (when inflation is high), focus on what you can do right now,” Noel said.

For those who invest, it’s as necessary as ever to diversify your portfolio.

“Blue chip companies are good during these times because of dividends,” Noel said. “But your choices should reflect the risk you’re willing to take while taking emotions out of it.”

Of course, the world of personal finance extends beyond investments, and financial planners also can help evaluate spending habits and recommend courses of action.

“It takes some planning because it’s necessary to identify your spending habits whether you’re well off or just starting out,” Noel said. “Everyone should be putting guardrails around how they spend their money.”

While spending habits differ widely from person to person, there are some fairly common things to review.

“Check your automatic payments, like for streaming services. If there’s one you don’t use, cancel it. If you haven’t used the gym membership, cancel that, too,” Noel said. “Make sure you shop around for auto and home insurance, that (can be) a big bonus.”

Essentially, evaluate all of your “unused services” to keep that money with you. There are also large appliance or vehicle purchases, for instance, as well as general credit card purchases and payments that may mean too big of a drain on finances for now.

“If you’re looking at a big purchase now, with interest rates high, it might be best to wait,” Noel said. “If possible, do priority maintenance.”

These sorts of purchases often come with payment plans that increase debt load, as does making everyday credit card charges.

“Credit card debt is at an all-time high, so basic budgeting becomes more important. Try to pay down debt rather than add to it by paying variable debt first; pay higher percentage cards first,” Noel said.

Clearly, all of the practical steps we’ve likely heard about since first starting out on our own are in play during high inflationary times. Setting and following a budget might not be the most thrilling thing to do, but it can bring peace of mind.

“It’s necessary to avoid short-term, instant gratification,” Noel said. “There’s no stigma in not going out to eat all of the time. If you’re accustomed to (that), consider cutting back to twice a week. But it’s not about changing your lifestyle; it’s about thinking of ways that changes can still fit your lifestyle.”

Making more helpful decisions doesn’t necessarily mean denying yourself the things you want to buy or experience, though.

“It’s not easy to save,” Noel said. “Give yourself a reward. If you want savings to get X amount, then take a weekend away or get new golf clubs (for instance) when you reach that goal. If you want to make a bigger purchase, keep up a picture of what you want — it sounds quirky, but it helps you to know your priorities.”

In short, the first steps to take are to evaluate where your money is going (especially with automatic payments), to tackle high interest credit card debt first, and avoid impulse buying, including bringing lunch to work more often than not.