Tomczak: 10 Ways to Save Big Amidst Biden’s Budget-Busting Boondoggle
Bank of America is alerting us that “recession shock” is coming as 81% of Americans foresee a recession coming this year.
Inflation recently hit a 40-year high. Producer prices rose 11.2% — the biggest gain on record.
“When the righteous are in authority, the people rejoice; but when the wicked rule, the people groan” (Prov. 29:2, NRSV).
Everywhere we go we hear lots of groaning. The primary reason: our plummeting economy and escalating inflation. Gas prices, groceries, goods and services, going out to eat and getting away (entertainment, relaxation, vacation) bring home this brutal reality.
Amazon is adding a 5% surcharge. Price increases this past year: bacon and beef roasts up 19%; seafood — 13.5%; vegetables — 8.5%; oranges — 14%; eggs — 11%. Stop already!
The independent Bloomberg report states that inflation will cost the average U.S. household $5,200 more this year. President Joe Biden’s policies negatively affect the average household (especially the lower-income ones) the hardest. When “progressive” Democrats tell us we’re getting salary hikes, the truth is we can’t keep up with skyrocketing prices as we’re stuck in a downward spiral.
Biden misleads the masses by telling us it’s only “the rich who are going to be taxed.” When corporations and corporate leaders are taxed, they pass along the increase to us consumers. They’ll shout “the rich need to pay their fair share,” yet Kamala Harris and her hubby report $1.6 million earnings and gave 1.6% to charity.
Biden Is to Blame
Regarding our race toward a recession, Biden told us a year ago that this was simply “temporary pain.” Now he blames our dire state on Putin and COVID-19. He’s blame-shifting, misleading, and exacerbating the situation, and we’re all suffering.
Before Putin’s Ukrainian invasion and with COVID-19 in both the Trump and Biden Administrations, gas prices went up 40% and inflation went up 464% from exactly one year prior under President Trump. Our prices at the pump are now the highest in history.
On day one in office, Biden caved to the Green New Deal/Global Warming zealots and attacked America’s energy industry. We’ve reaped the consequences. Gas, oil and energy prices skyrocketed as our energy, transportation and food suppliers had no choice but to raise prices drastically.
Biden boasted his “sanctions” on Russia would put their rubble in rubble but it has roared back to preinvasion days! Why? When Biden strangled the U.S. energy industry and shut down the XL Pipeline, European countries like Germany went back to Putin, becoming dependent on him to fill the gap. This year Russia earned $321 billion from oil and natural gas, which is up more than a third from 2021.
The midterm election is approaching, and I predict a shellacking of the radical Democratic Party and a historic turnaround in Congress that will leave us with a lame duck Joe Biden for a couple more years until he’s ousted the way Jimmy Carter was in his disastrous reign.
10 Timely Tips to Save Thousands
1. Renounce all impulse buying. Commit to live by this pledge: “If I can’t afford it, I don’t need it. If I need it, I’ll save for it.” Financial guru Dave Ramsey says, “Financial stability is 80% behavior (self-control) and 20% knowledge.”
2. Enter into a new dimension of financial stewardship through the “exchange zone.” Make substitutions that deliver big dividends. I’ve saved $2,000 yearly for 10 years by not drinking Starbucks iced coffee and making it at home instead. I love Chick-fil-A, but making your own turkey sandwiches saves families several hundred bucks a month. Take lunch to work! Skip Disney ($5,000 for a family week away) for obvious reasons; go local; go camping and to free museums.
3. Adjust your thermostat to save on costly electricity. In summer, use fans and dress wisely; in winter, lower your thermostat, wear sweaters, use inexpensive oil heaters, close off rooms and vents not used, and wrap insulation around your hot water heater.
4. Buy gas at Costco to save 30-40 cents a gallon. Drive slower and wisely plan your shopping trips to maximize time and money.
5. Look for discounts, incentive programs, freebies and coupons! Our daughter-in-law has saved thousands by regularly searching for hidden treasures online. We’ve saved BIG using generic meds, cable “specials” and pizza promotions. If you’re a senior, drive less than 75 miles daily and have had no accident or ticket in 6 months, you can save $500 yearly on car insurance rates! Give your adult son or daughter $20 a month and plug into their “Family & Friends” rate to save $1,000+ yearly!
6. Smile, be friendly, learn to negotiate and appeal for a lower price and upgrades. Apartment rent? Lodging? Rental car? Garage sales?
7. Maintain your car, avoid sticker shock of used cars (now 30% higher!) and new models (depreciate 10% once driven off lot!). I drive a 10-year-old Honda and my wife has 260,000 miles on hers. Billionaire Warren Buffett drives a modest car and has lived in the same house since 1957.
8. Unless offered a scholarship, stay in state and avoid massive college debt. Google “Employers Favor State Schools.” I graduated from Cleveland State University with $0 debt, landed a job in D.C. and rented an upstairs room for a pittance from an elderly widow in Chevy Chase, Maryland (then the richest county in America!). I saved $7,000 in 9 months compared to fellow interns.
9. Be like the “wise ant” (Prov. 6:6-8) in saving and preparing. When shopping, have a prepared list to avoid impulse buying. Purchase in bulk at discount superstores. Cancel cable movies and select from hundreds of free library DVDs. Save on your water bill. (Wait for full load in washer and dishwasher and shorten shower times; turn off tap while brushing; flush less?) Have new lenses fitted into previous frames. Bring home those toiletries from hotels!
10. Never rob God — be faithful with first fruits tithes and offerings. Claim by faith God’s promises of provision from Malachi 3:8-12 and throughout Scripture.
Here’s the deal: Now’s a good time to heed John Wesley’s words of wisdom: “Earn all you can, save all you can and give all you can.” God help us to be faithful, faith-filled and frugal as we navigate this time of testing.
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