The following is from a Kiplinger article.
Like many American families, Krista and Dave Jones, who live in Cincinnati, are using coupons at the grocery store, taking advantage of grocery store fuel points to lower the cost of gas, and driving less in general. Both Krista, 47, and Dave, 50, work from home most of the week, so it’s easier to drive less. Although they don’t go through every purchase in their bank and credit card statements, they review the trend lines in each report. That has led them to scale back on restaurant and takeout meals, and they’ve loaded up on items such as shampoo and toothpaste when they go on sale. The biggest item the Joneses eliminated this summer was their gym membership, which cost several hundred dollars a year.
The Joneses have two daughters—Madeline, 18, and Kayla, 14. Madeline will attend the University of Cincinnati this fall, and they plan to ask their auto insurer for a policy discount, as Madeline’s car will remain mostly stationary. “We’ve always been conservative in our spending, so inflation isn’t hitting us as hard,” Krista says.
Krista and Dave both contribute 15% to their employer-provided retirement plans, and they don’t plan to lower their contribution rates anytime soon. That means they’re not immune to the stock market turmoil triggered by inflation and fears of a recession, but they are willing to ride out the bear market.