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Food prices are skyrocketing -- as much as 6 percent year over year. Most of us aren't getting pay raises every year to keep up. For quite a while, we had been in a golden era of supermarket purchasing power. Prices were actually going down. That was partly because Wal-Mart entered the grocery biz and cut prices by about 20 percent vs. the traditional chains. Then there's also been more efficiency on the farms, plus the availability of imported produce. But now we're in for a rude awakening with inflation at the source and the cost of transportation (price per barrel of oil) going up. So what can you do? Try carefully planning your shopping. For example, Stephanie Nelson (aka Coupon Mom) tells people to stock up on non-perishables only when they're on sale. Don't buy them when they're at full price. As the name of Nelson's website suggests, she also offers a ton of coupons. Clark has a sister-in-law who is also a noteworthy shopper. She can take care of food needs for a month with a week's worth of money. But if all the planning sounds like too much work, Clark just tells people to do their grocery shopping at Wal-Mart or Aldi. Here's another tip: Practice product/brand substitution. For example, buy the store brand instead of the name brand, or buy grapes if they're on sale instead of strawberries at full price.

Car prices are headed into a free fall. Records show that sales were anemic in 2007 -- the lowest they've been in 9 years. Now comes word that '08 sales are expected to be even worse! So the opportunity for car buyers right now is tremendous. Car dealerships are in complete turmoil because there are simply too many of them in the United States. Manufacturers, meanwhile, are trying to guess how much they should slow production. But they won't be able to dial back quickly enough. The Financial Times reports that the best opportunities in '08 will be in used vehicles, not new vehicles. There's a huge surplus of used vehicles because of repossessions, trade-ins or leases that have ended.

While Clark loves used cars, the only danger is that you'll buy someone else's trouble. So do it right from the start: Get the vehicle inspected by an independent mechanic -- even if it's been "inspected" at a dealership such as CarMax. Always beware that you buy as is when you buy a used car. In fact, salespeople in some states may be allowed to lie to you about the past history of a vehicle. So which dealerships are trustworthy? CarMax is one company that's beloved by Clark. They researched what people hated about the industry and eliminated it from the buying process. In Europe, a man who heard about Car Max opened a clone. Now it's the fastest growing dealership chain over there. You can't go wrong when you treat people right and make everything simple, honest and clear.

During a recent Clark Stinks segment, someone was upset about Clark's recommendation of CFL (compact fluorescent lights) bulbs. Clark jokes that he's surprised his wife would post something about him behind his back! Clark and Lane always go back and forth about the CFLs in their home. The problem is that Clark was an early adopter of CFLs. He bought when they were too expensive and didn't have all the kinks ironed out. So his CFLs emit a yellow-green glow and take a full 90 seconds to fire up from the time you flip the switch!

CFLs only account for about 5 percent of the market today. But they'll continue to be more prominent in people's lives. There's a new federal mandate that requires 35 percent more efficient lighting over the next several years. Meanwhile, there's been some concern about the level of mercury in CFLs. But Clark says it's only a minor amount. You'd practically have to crack open the bulb and inhale to get yourself in trouble! Keep in mind that CFLs are probably only a transitional technology. The next major advance will be LEDs (light-emitting diodes) in the home. Did you see the Times Square ball drop on New Year's Eve? That was all LEDs. LED Xmas lights were also popular this past season because they're much safer and more cost-efficient. But we're still about 5 years away from commercial viability for LED household use.

Are you struggling with your bills? Many Americans across the socioeconomic spectrum are having trouble paying all kinds of bills. People often get used to living a certain way and then don't adjust their lifestyle when the money dwindles. Compound that with the threat of a recession and people are really feeling the squeeze. The warning signs are there. It's like being in a coastal community and seeing threatening storms clouds on the horizon. When you think it's going to rain, you prepare by taking an umbrella. So do the same financially. Prepare by getting into a position where you have breathing room. Did you know it's not uncommon for Americans to increase their household debt year after year? People now sometimes think it's quaint and obsolete to pay in cash. But that's the wrong attitude to have. You must work to pay your debt down. Start by not taking on additional debt. For some people it's already too late or very late in the game. Over the years, Clark has always been amazed when he talks to couples about their debt. They often say they're sending in payments, but the balance never seems to go down. Then he discovers that they're still using their cards. That's why the balance isn't going down!