As inflation continues to soar, most Americans are feeling financial strain and are pinching pennies to keep up with the rising costs, while still trying to enjoy life.

In June, the annual inflation rate in the U.S. jumped to 9.1%, which is the highest its been since November 1981. Paying for the essentials has become a difficult task for many Americans, but it doesn't mean it's impossible.

Whether you need to figure out a way to afford the necessities or are planning on making an expensive purchase, there are several methods that can be used to meet your needs.Check out these six creative ways to save money:

1. Make A Budget

There are a variety of different budget trends to try, including the 50/30/20 rule. The plan allocates 50% of your income to pay for the necessities, 30% goes to things you want to buy, and 20% goes to your savings or paying off debt.

2. Eat At Home

The average household shells out about $3,526 a year, which is $294 per month, on purchasing food outside of the home, according to a 2021 consumer expenditures report from the Bureau of Labor Statistics. Bring your lunch from home for your days in the office and say no to dinner at a restaurant to save money on your meal expenses.

3. Don't Book Vacations Early

If you're determined to travel despite the elevated prices, consider booking a trip last minute. Depending on where you stay, the AARP reports you can save an average of 13% by booking two weeks before the trip rather than four months in advance.

4. Lower The Temperature On Your Thermostat

As advised by the Department of Energy, turning your thermostat down seven to 10 degrees from its normal setting for eight hours a day can save as much as 10% per year on your energy bill. If your electric company offers free energy audits, you can schedule one to learn which appliances use the most energy in your home, and what solutions are available to help lower the electric bill.

5. Make Early Dinner Plans

For those days that you can't say no to an invite out, check out your local restaurants and pubs to find out when they offer happy hour and dine during that time frame. Happy hour deals can save consumers about 20% on drinks and around 35% on food notes AARP.

6. Cancel The Cable

According to a 2019 Consumer Reports finding, the average cable bill is around $217, which adds up to more than $2,600 a year. Nowadays, there are so many affordable ways to stream your favorite shows whether it's through subscriptions or on network apps. Also, keep tabs of what you're actually watching so you only subscribe to services that you really use so it doesn't defeat the purpose of cutting cable.

A shopping cart is seen in a supermarket as inflation affected consumer prices in Manhattan, New York City, U.S., June 10, 2022.
A shopping cart is seen in a supermarket as inflation affected consumer prices in Manhattan, New York City, U.S., June 10, 2022. Reuters / ANDREW KELLY
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