Across the nation, millions of Americans shop at various dollar stores. These are great places to purchase home goods, office supplies, food condiments, and much more at budget-friendly prices.

As inflation's gone up, more people find themselves needing to stretch their money as far as possible. For a lot of folks, this means getting frozen food and cleaning products at a dollar store, rather than Walmart or Target.

Unfortunately, even dollar stores aren't immune from the impacts of inflation. Earlier this month, Dollar Tree announced that its prices are going to increase, albeit with some key caveats.

Here's why Dollar Tree is increasing prices

Boasting thousands of locations, the discount store has plans to increase its inventory, allowing customers to find more goods. However, to make up the overhead difference, Dollar Tree will be bumping up its maximum item price from $5.00 to $7.00. This comes on top of the already-existing base price of $1.25.

Rick Dreiling, the CEO of Dollar Tree, provided some insight into how new changes will impact customers. Per his account, shoppers can look forward to 300 more products, such as dog food, candy, and more, on store shelves.

Stretching your dollars in a tight economy

Seeing prices rise while your income fails to follow suit is frustrating for many Americans who are struggling to make ends meet. Further exasperating the situation is the fact that essential goods and services, like baby formula, childcare, etc., have become harder to access in recent years.

Thankfully, people do have options when it comes to staying afloat in a turbulent economy. Seeking out flexible payment plans for certain bills, such as your phone, can allow you to split large sums into smaller, more manageable bits over time.

Shopping with coupons, keeping an eye out for sales, and purchasing products in bulk so they last longer have also proven to be helpful for many Americans.

Finally, people seeking more income should consider the gig economy. Driving for rideshare companies like Lyft or Uber can lead to hundreds or even thousands more coming in each month. The same goes for providing delivery services via apps like UberEats, DoorDash, Grubhub, Postmates, and Instacart.