With the cost of living skyrocketing since the pandemic and inflation showing no sign of slowing down, finding ways to combat rising prices has become more important than ever. This is especially true for families who are commonly hardest hit.

If the budget bottom line is starting to look scary, you're not alone. While the current economic situation certainly isn't the best, you can do a few things today to make life a little easier tomorrow.

Look for Cheaper Brands

You would be surprised by how much you can save on your weekly grocery bill simply by switching to cheaper brands. Of course, this isn't always possible. Those with little ones, for example, will still want to ensure that they're getting the best baby formula in Australia. However, many products can help you cut back on living costs without sacrificing quality. Cleaning products, for instance, can often be cheaper if you purchase the natural versions as they have fewer ingredients and often require less resources. Not only is this great for your wallet, but it's also a win for the planet.

Compare Unit Price Instead of Total Cost

Always compare the unit price while shopping instead of the overall cost of a product. It may seem logical to go for the cheapest product on the shelf when trying to save on groceries, but this isn’t always ideal for your bottom line. The difference can be obscure, so you'll need to check the fine print on the price tag rather than simply guessing.

For example, if you can get two of something for $2 and five of that same item for $4, it's obvious which is a better deal. However, if one packet of pasta is $1 but only has 750g, and the next is $1.10 for 1kg, you're better off buying the slightly more expensive product.

See if Service Providers Can Give You a Better Deal

Another way to save money when times are tight is to call your service providers and see if they can cut you a better deal. Of course, you're more likely to succeed when approaching providers that have more competition, such as phone companies and utility providers.

Even if a provider doesn’t budge, you may still be able to save money. You have the right to switch most services, so if your current provider can't match another option, feel free to change things up.

Shop Locally

Fresh produce and meat products have been some of the hardest hit due to rising operational costs in agriculture. However, you can still get healthy food for your family at a reasonable price. You'd be surprised by how much you can save simply by visiting a market, greengrocer, or local butcher instead of getting everything at the supermarket.

See if You Can Work From Home

Finally, if you've got a long commute to work, it could be worth asking if you can work from home to help cut costs. This working model isn’t possible for everyone. However, if you have the option, it can take some stress out of managing your budget as you'll be able to cut back on transport costs. Considering current petrol prices, this could be a massive win for your budget.

Following these tips should make it easier to manage your money amid rising living costs, but please remember that there's no shame in asking for help if you need it.