BBB warns of scammers taking advantage of inflation panic

Inflation is higher than it’s been since the 1980s. It’s impacting every household in Green Country, and prompting more scams.

Everything, from groceries, to gas, to household items cost more, so you might be spending 10, 20, or 30 percent more when you go to the store.

“People are starting to panic a little bit about money and where they’re going to be in the next six months,” said Amie Mitchell with the Better Business Bureau (BBB).

She said that gives scammers a great opportunity to push you into making a quick decision on what might seem like a great deal, or a way to stock up on something you may need down the road.

“It’s great to stock up, but you don’t want to put yourself in a financial burden or be panicked because ‘oh this is a great price I have to jump now.’ It’s going to be a good price again, so you don’t have to jump specifically on that item,” said Mitchell. “Just take your time and remember scammers are going to be pushy.”

Mitchell suggests if you are feeling super pressured to do something, walk away with a clear head and come back later.

She said now is also a great time to create a budget, or if you already live with a budget, you likely need to take a closer look and adjust.

“You may have to raise some of those costs, whether it be gas or groceries, and cut down on a little bit of extras,” Mitchell said.

The BBB said compare last year’s bank and credit card statements to this year’s to see exactly where inflation is hurting you the most. This will also show you where you can make cuts.

Get smart when grocery shopping. Meat and fish have seen some of the biggest price hikes, so going vegetarian a couple nights a week will lower food costs.

The BBB also suggests taking walks and spending time with family this summer. It might be a good time to cancel subscription services, and you can always get your Netflix or Hulu back for the winter. Even cutting it for just a couple of months is worth the savings.

Click here for more tips from the BBB about how to save during inflation.

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