Roaring Fork realities: Keeping up with the rising cost of living
Brian Littlejohn/Courtesy photo
If you live in the Roaring Fork Valley, you know what a wonderful place it is: the natural beauty (especially this time of year!), the plentiful world-class recreational options, and the friendly folks you meet while you’re out and about.
But there’s no denying that it’s costly to live here and it’s becoming more expensive. The price of everything from groceries to vehicles to houses is likely to keep rising, especially in the face of tariffs. So, let’s consider some ways to counter the impact of inflationary prices.
Here are 12 things you can do to fight back against the high cost of living:
1) Track your spending. Information is power. Taking control of your personal finances begins with knowing where all of your money goes. There are various ways to keep track of your spending. You can do it with the help of an app, such as Quicken Simplifi or YNAB (You Need a Budget), or simply log your expenses in your checkbook.
2) Separate needs from wants. Review all of your expenses and identify what you truly need versus items that are merely “nice to have.” If you have to trim expenses, those are things you could go without and be fine. These can include dinners out, entertainment events, or a vacation. Rather than skip a vacation altogether if money is tight, consider less expensive options. (See No. 8 for ideas.)
3) Ignore the Joneses. You know “the Joneses.” They’re the ones who spend massive amounts of money every time you turn around. That’s their life. You have yours. While resisting the temptation to play the “keeping up with …” game, be good to yourself. Don’t deny yourself some pleasures but just make them appropriate for your budget and situation. Remember that accumulating wealth, or building your net worth, isn’t what you show, but what you grow.
4) Downsize. Think about one or two “big wins.” What one or two things could you cut down on or eliminate that would save a substantial amount of money? Depending on your life stage, perhaps you could move into a smaller home. If you own multiple vehicles, could you sell one? Do you have a vacation home that you barely use? Is there a portion of your primary residence that you could rent out?
5) Drive your car longer. Maybe rather than doing away with a vehicle, consider making do. Let’s say you typically buy a new car or truck every five years. What if you stretched that to 8 or 10 years? Think of the potential savings if you could skip monthly car payments for a few years.
6) Avoid high-interest-rate debt. Carrying a credit card balance from month to month can eat away at your available funds, especially if you’re paying the average 24.2% interest rate. If you are paying high interest on any debt, find a way to eliminate it as soon as possible.
7) Save on restaurant expenses. How often do you dine out? Look at ways to trim your typical monthly costs. You might dine out less frequently or opt for less expensive restaurants. Consider skipping the appetizers or dessert or even go alcohol-free. You’ll save money and potentially improve your health.
8) Vacation more frugally. Look at options that are less expensive than the typical big family vacation that involves airfare, hotels, and pricey destinations. Consider visiting places that are within driving distance or perhaps travel during the off-season. Take advantage of locals’ discounts. I saw one advertised for Iron Mountain Hot Springs just the other day…
9) Save on transportation. Could you carpool, take RFTA, or bike to work? There are potential environmental and health benefits to all three of those options.
10) Save on groceries. Comparison shop. Buy in bulk. Look for specials. Purchase store brands that are essentially the same as brand products but cost less.
11) Review your subscriptions and regular bills. Are there subscriptions or memberships you pay for every month but barely use? These are insidious and can add up quickly.
12) Earn more. In addition to seeking ways to spend less, consider how you might bolster your existing income. Could you ask for a raise that you feel is overdue and merited? Could you start or expand a side gig?
Living in the Roaring Fork Valley means embracing a lifestyle that’s rich in beauty, connection, and adventure — but it also means being smart with your finances as the cost of living continues to climb. The good news? With a little planning and some practical tweaks, you can continue to enjoy everything this valley has to offer without stretching your budget to the breaking point. After all, the goal isn’t just to live here; it’s to thrive here.
Brian R. Littlejohn, MBA, CFP®, CFA is the founder of Sherwood Wealth Management, an independent, registered investment advisor (RIA) firm that specializes in inherited wealth. He lives in Aspen and works with clients in the Roaring Fork Valley and beyond.
