More Coupons, Fewer Tips – This Is How We’re Trying To Fight Inflation

Using more coupons is a great way to save money. Seeking out lower-priced groceries helps, too. And so does stiffing your server when eating out.

They’re all savings strategies highlighted in a new survey about how consumers are managing inflation.

LendingTree surveyed more than 2,000 people to find out how higher prices are affecting their spending habits. Many are saving money by putting off big purchases or canceling expensive vacations. But everyone’s got to eat, so saving money on everyday meals is becoming more important as food prices rise.

88% of the survey respondents said inflation has prompted them to change their grocery shopping habits in some way. The number-one way they’re trying to save money at the grocery store is by buying more store brands, cited by 44%. 38% are sticking to their shopping lists and 29% are paying closer attention to prices.

Less common, but still effective, ways to save include using coupons more frequently and seeking out stores with lower prices, each of which was cited by about a quarter of respondents. 13% have gone so far as to exclusively buy only products that are on sale.

Successfully saving money hasn’t necessarily reduced shoppers’ stress levels, though. 61% have been anxious about paying for groceries over the past month, which rises to 74% among lower earners. Even high earners are concerned about their grocery bills, though, with half expressing concerns about being able to pay for all of the groceries they need.

Concern about grocery prices is particularly significant, given that many people who may have eaten out more in the past are buying more of their own groceries in order to save money by eating at home. Fully 85% said inflation has impacted their dining-out habits. 59% are eating out less frequently – one in five say they haven’t visited a restaurant or ordered food to-go at all in the past month. 29% said they’re paying closer attention to menu prices, and 24% are seeking out more restaurant coupons and deals.

One way restaurant-goers are cutting back, is in whether and how much they tip. Many consumers have complained that “tipping culture” had gotten a bit out of control during the Covid pandemic, as restaurant customers were invited to tip not only servers and delivery drivers, but cashiers and drive-through window workers. Originally, “tip creep” was a way to express appreciation for restaurant employees’ work keeping the food-service industry going, and in recognition that they could use the extra money during tough times.

But now times are tough for their customers, too. More than half of the respondents in LendingTree’s survey said inflation has impacted their approach to tipping. Among Gen Zers, that rises to nearly three-quarters. A third overall are tipping less than normal, and 20% aren’t tipping at all anymore on takeout or delivery.

So if you can’t find good coupons or deals, how else can you save? LendingTree recommends several strategies, including buying in bulk, using rewards credit cards for cash back, or consolidating any credit card debt into a loan with lower rates – just the kind of service that LendingTree itself specializes in.

LendingTree’s owners and employees have grocery bills to pay too, after all.

Image source: Sam Dan Truong on Unsplash