The Rachel Cruze Show - The Impact of Shrinkflation and Things I Won’t Waste Money on This Fall

Episode Date: October 10, 2022

This is a fun one—but we also go over some serious money-wasters to be on the lookout for! We'll talk about what shrinkflation is and why you might be a victim of it and some things we tend to waste money on in the fall (looking at you, pricey fall decor). Here’s what’s coming up: ·      How to Spot Shrinkflation ·      Top 10 Things People Waste Money On in the Fall   Helpful Resources: Christian Healthcare Ministries Financial Peace University EveryDollar                      Sponsors pay the producer of this show, The Lampo Group, LLC, advertising fees for mentioning their services or products during programming. Advertising fees are not based upon or otherwise tied to any product sale or business transacted between any consumer or sponsor. The following sponsors have paid for the programming you are viewing: Christian Healthcare Ministries. Learn more about your ad choices.  Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

fall while it's a season for weather, it does now become like a shopping season. Like it's like a thing to celebrate with now. There's nothing wrong with spending money on some of these things. As long as you budget for them, you have the money. But again, if we're not careful, we can just overspend. Hey guys, welcome to this episode of the Rachel Cruz Show podcast. I'm so glad that you're here. So in this episode, we're going to talk through traps to avoid this time of year. I'm going to go over 10 things to avoid wasting your money on this fall. And pumpkin spice lattes might be on the list. Love them, hate them, you know, let's be honest.

We're going to just break down how you can still save money this fall, not waste your money because it's so easy. But first, let's talk about shrinkflation. Yep, kind of a different word. You may or may not have heard of it. But I can tell you that it is definitely affecting you, whether you know it or not. So let's talk about it.

Take a listen. So today, we're going to talk about something called shrinkflation. Yes, I saw this, and I was like, this is fascinating. So I wanted to share it with all of you. So first, we're going to define what it is, and then go over some of the major products that are being impacted by this. So shrinkflation is caused when items that you buy shrink in size, but you pay the same price for it.

So it's not the same thing as inflation, but it tends to go hand in hand. So when inflation makes costs go up for companies, sometimes they'll choose to shrink the product instead of driving up the price for the consumer. So the price of the item goes up on the back end, but you as the shopper don't see the price difference. So again, you're paying the same price,

but you're getting less of the item. And yes, companies are doing. doing this, and they have to measure, you know, places where they can stay in business. And during tough times, it costs them more to produce things. And so for some people, they're seeing the price go up. But for some of these products, the manufacturer, the company is choosing to shrink the product to still stay the same price. It's fascinating.

So this is where we're at, y'all. It's kind of a sneaky tactic. And I just think it's one of those things, just to be aware, like, when I saw all these numbers, I thought, that is so crazy. like I'm not a very detailed person, which everyone thinks like when you're to be good with money and have good money habits, you'd be very detailed and like know everything. No, you don't. No. I am not detailed. My awareness isn't always there where I'm like very aware of stuff. So I am a sucker for this. So when I saw these prices and saw these numbers again, I was like, this is crazy. So I want to

show you some of these examples because, again, it's wild. And it makes you think, okay, what am I buying? and what do I need? Should I change my shopping habits? All of it. Okay. So let's look at cereal. So the family-sized box of corn flakes is 21% smaller than it used to be. Mm-hmm. Shrinking. Juice simply lemonade has gone from 64 ounces to 59 to 52. Over the years, and again, the prices stay the same. Soap, Dove Soap, which I personally use. I love Dove Soap. has gradually gone from four ounces to 3.74 to 3.17. It's almost one ounce less, but it's still the same price. Paper towels. When you look at bounty paper towels, again, something the cruises use all the time.

We love paper towels. They now have less width and thickness than they used to. Pringles? You remember Pringles, the chips? I haven't had a pringle in forever. but they have shrunk, those cans have shrunk from holding 200 grams to 180 to 165. Detergents. Here's an interesting example. Okay, so all that detergent, it has gone from 40 ounces or 53 loads to 32 ounces and 42 loads. Price is the same. Coffee, a large container of fulgers used to be 11.3 ounces and 9.3 ounces.

now it is 9.6 ounces. Cookies. Ha, the family-sized cookies, or 17.2 ounces, but now they're 14.6 ounces for the same price. Ziplock bags. Oh, I love Ziplock bags, but they have gone from 54 bags down to 50 bags. Giving us four less per box. Come on. And even makeup. Yep, makeup is being affected. So a benefit cosmetics container has gone from 0.14 to 0.08 ounces. Oh. All right. So what can we do about this?

Well, we can't control this. We talk about control what you can control. We can't control benefit cosmetics or bounty or zip-lock bags. No, we can't control that. We can't control inflation when companies do, again, up their prices and we're the ones paying for it. And we're like, oh, man, you're at the store. You know, there are things that we just cannot control.

but we can control where we shop. We can control, let's look at the labels. We can control comparing price per ounce or price per unit for maybe a different brand or even getting just a store brand versus a name brand. Again, we can control a lot of this stuff and how we spend our money and where we spend it. But again, I think it's just fascinating just to be aware too. So am I still going to buy Ziploc bags? Yeah, probably, even though I'm getting four less,

box, which sucks when that's what's happening. But it's just good to be aware. Be aware of what is happening and going on around you. And be on the lookout, you guys, for deals, for sales, for promotions and coupons to help you save when you are going to spend anyways. And of course, budgeting, I'm going to say this, yes. And include a lot of these expenses. You know, you can include this in a grocery budget or I have a home line item that

I'll stick a lot of that kind of stuff in and things around our home. But just be in control of what. what's going on. So with or without shrinkflation or inflation, be budgeting. Know where your money's going. And if you want to budget a very simple way, I really would recommend checking out or budgeting at every dollar. It makes everything so streamlined and so easy. It's amazing. I would also encourage you to share this episode with a friend who's looking to save money and dodge the effects of shrinkflation during this season. But I don't know if y'all thought that was fascinating. I did. I was like, on this world. Is everything getting smaller? It is. It's happening. It is real. The conspiracy

theorist to me is like, hmm, that's really going on. It's probably just that stuff is getting smaller. That's probably it. But watch out, you guys. Be on alert. Spend your money wisely. So today we're talking about a few things that people tend to waste money on in the fall. We all know fall is amazing. And we're like, bring out the boots and the sweaters and the pumpkin and spices and the hats and like everyone loves fall, everyone loves fall. But man, these seasons, they can really break the bank if you're not careful, okay? Because it's just a lot of pressure to spend money on like every season, every season. Go through the calendar. And there's a lot. And now fall, while it's a season for weather, it has now become like a shopping season. Like,

it's like a thing to celebrate with so much stuff, so much stuff. Now, there's nothing wrong with spending money on some of these things, as long as you budget for them, you have the money. But again, if we're not careful, we can just overspent. We can, like, every fall comes up and like, I need this and this and this and this and this and this, and this and this. And you end up just spending so much money because you're in the heat of the moment or the cool of the moment because it's fall. So just let's be adults.

Let's look at our budget. Let's know if we have the money and be wise with our purchases. So here are the top. top ten things not to waste your money on this fall. Are you ready? Some people, even on the side of the Rachel Cruz show, are going to disagree with me on some of these. So prepare your hearts.

Are you ready? Fall decor. Now, I could take a mom, sure, a pumpkin outside my door. Like, I get it, okay? I get it. But let's be smart about this, people. Like, just be wise and just now. Christmas is coming real soon.

real soon. So if I spend all of my money on all of this, and then I get to a season like Christmas and I want to spend even more, we got to balance it out, okay? So yes, there's the fall candles and people even, you know, switch out their pillows. They put stuff on the counters with pumpkins and, like, it is so fall. And you can do it. You can do it on a budget, but let's be smart because if you just go all out and you walk into a place, even somewhere cheap like a T.J. Max, it could look like fall just threw up all over your house. So, So let's be classy people with our decor. And don't spend a ton because there's other holidays coming.

Halloween, Thanksgiving, which kind of feels fallish. I get, but Christmas, we're really thinking about Christmas here, which is my favorite holiday. So I'm all about spending money on Christmas decor. I think it's so cute. So fall is just not my thing. So again, personal preference. Go as a spirit made lead you.

All right, next is pumpkin spice flavored anything. Anything. So yes, the Starbucks drinks, the food. the food, when you go into a place like Trader Joe's, it's like pumpkin spice, all of it. So, yes, can you get some of those? Absolutely. But don't feel the pressure to be like, I constantly have to have a pumpkin spice latte in my hand, 24-7. And between you and me, I don't even like pumpkin spice latte.

So that's why I put it on the list. It feels like a waste of money because I think they're disgusting. Just being honest. All right, next fall clothes. Yep, I wore my sweater right now just to... like feel the fullness. But man, the clothes, it can get pricey, the boots, the jeans, everything. So it's great to buy some clothes, put it in the budget, have a line item for, hey, I want to buy some new clothes this fall, and stick to it. That's the key. It's like have a certain amount of

money and stop spending once you've spent that. Okay? It's all about self-control here. Next is your air conditioning. Yep. So you can actually turn it off as soon as the weather starts cooling down to save money. And if you're gone for a weekend, you know, turn it off. Because now that the cool weather is here, you can actually save a lot of money when it comes to your utilities, like your air conditioning. All right. Next is a pumpkin patch. You all are going to kill me. I know you are. And again, if you want to go do it, it's fine. If you have the money and it's budgeted and I'm all about supporting local farms and all of it. But I just know where we live right outside of Nashville. I can name five different places that do this.

And if you go to all five, they're so expensive. Price per person to get in is upwards of like 20 bucks at some of these places. So, again, have the tradition, have fun, but don't feel like you have to hit every single thing because it's going to cost you so much money. And there gets to be a point where it is just that same thing over and over and over.

Let's just be honest. It's true. All right, tail ending off the pumpkin patch. Fall events. So every year, y'all, there are so many of these, whether it's hayrides, haunted houses, corn mazes, picking up pumpkins, all of this stuff, again, more and more and more and more and more and more can cost you more and more and more and more. So maybe choose one or two of them and then look at things that are more affordable, like going on a hike,

making some more, taking a bike ride. Like there are things that you can do around the fall that don't cost a lot of money. But a lot of these places, again, are going to charge you so much. so be aware. Next, Halloween costumes. The price for Halloween costumes, it's a lot. So be aware. Just be aware. Now, I am probably the least creative person you've ever met.

So if my kids, you know, Amelia wanted to be a llama last Halloween, so I'm like, I'm not going to, like, go to Joanne's and get fabric and create a llama costume. I'm going to go to Amazon and buy the llama costume. So I did. I did. I priced out a few. Found the cheapest one, hit purchase, and we were good to. go. So I'm not going to be sitting here making cheap Halloween costumes. That's not my jam.

Got other things to do besides that. But I am going to look at prices. So you can go to a place like a party city. You can go to an actual costume big outlet. You can go to Amazon. You can go to other websites. Price out the Halloween costumes. Because if you have little ones like I do, they end up in the playbasket up in the playroom and you never see them again. So we're going to go inexpensive. That is key. Or here. another one, y'all. Borrow them. Borrow them. My sister had a Thomas the Train little jacket thing. Charles loved trains. I was like, you're two, not even three. You have no idea what's going on. Put that on and get you a little blue hat and we're calling it a day. Okay? And everyone's happy. We've all survived.

So, again, if you want to have fun with it and you have the money, do what you want to do. But don't go crazy because everyone else on Instagram is going to post their pictures and you feel like you have to go crazy with it. Okay, we are adults. We are going to make adult decisions with our money. Next, man, this can be pricey parties. So this is Halloween parties. This is Friendsgiving, tailgating. There's so much happiness and festivities around the fall.

But listen, you can have fun with your friends without spending a ton of money. So do potlucks. Don't feel like you have to provide everything. People are coming over and you're hosting. Ask people, bring plates, bring silverware. like how people bring stuff, and it makes it so less expensive to feel like all the pressure is on you. Next, getting the entire cable package just to watch sports.

So people, I love football, give me an SEC football game on a Saturday all day long. Love it. Not, don't care a lot about the NFL, but college. I'm like, yes, it's so fun. But find the regions or the teams that you actually want to watch and just buy those packages or just buy the sports package and not everything else. And you can even watch online. There's certain subscriptions, like price it out

if you want sports for the fall and just get what you want to watch. Don't feel like you have to buy the entire, entire cable package. All right, last but not least, this is near and dear to my heart. Firewood. Y'all, it's expensive. We have real wood-burning fireplaces in our house. It's a gas starter.

I'm not that like living on the land. got a gas starter, but it's real wood, and we love it. And we go through so much of this stuff during the fall and during the winter. But I can get really expensive. So shop around, find local vendors. Man, if you can find someone like on Craigslist or Facebook Marketplace or Askeron for your friends, if you can get the name of someone that can deliver wood to your house, which is an amazing convenient, it is so much cheaper than going to like a Home Depot or a Lowe's and buying their wood.

So find someone, get a Rick of Wood. That's right. I know what a Rick is and enjoy a great fire. But don't feel like you have to spend a ton of money on the firewood. So find someone local. It's usually your best bet. All right. You guys, falls here? I sound like I hate fall.

I don't hate fall. But I want you to be smart. And I don't want you to get to Christmas and be like, I have no money because I spend all my money on fall. No, let's be smart about it. Let's pace ourselves. But let's enjoy. So share this with a friend who you know wants to save money on this fall season. and one of the best ways to make sure that you're not overspending is tracking your transactions,

staying on top of your budget, and the best, easiest way to do that is every dollar. It's our budgeting app. Make sure to check it out because you can budget for specific categories. So even, you know, for the month, if you're like, we know we're going to do some fall activities, you can actually put a line item in your budget for that. Have a dollar amount that you're not going to spend over. Track those transactions when you go and do those activities and stay on budget, and you can enjoy spending your money and experiencing

seeing all this fall stuff so much greater because you know that you are in control. Okay, so I don't hate fall. I hope that didn't sound like I hated fall in all things fall. Let's just be smart, you guys. Let's be smart. All right, you guys, I really appreciate you listening to this episode. And if you have not subscribed to the podcast, make sure to hit that follow button. And if the spirit leads, you can leave a review.

And as always, make sure to take control of your money and create a life you love.