Spend less than you make. Simple, yet effective.
Budgeting is a great habit to keep finances in order. That is even truer in times of inflation combined with a culture of consumerism.
It’s no secret many goods and services have become more expensive lately. Labor shortages, supply chain constraints, and easy money have fueled an inflationary environment. With multiple contributing factors, in addition to inelastic demand, there is really no way of knowing when prices will come down.
Inflation was recently cited as the top issue facing the country by 17% of Americans, the highest percentage since 1985. Don’t get caught up paying higher prices for items that will create financial stress and undermine future goals. Improved savings rates and debt management are two positive outcomes of discipled spending.
Our partners at eMoney developed a short video on the topic.
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