Inflation is rising and prices are rising – again – and families are feeling the pinch. Our CEO Mark Henry was featured on WCNC’s Money Matters where he discussed the cause behind our tough economic times – high gas prices. The price of oil is causing everything to be more expensive. 

Transportation and shipping costs are skyrocketing impacting food prices. Farmers are paying more for the supplies they need to grow and harvest the food we eat which also impacts prices in the grocery store. Inflation is rising because of, you guessed it, the price of oil. The price of food, fuel, utilities, services, and even homeowners’ insurance will increase when inflation rises. Times are tough right now, but we aren’t here to tell you what you already know. We want to help. 

To weather high prices you need to be proactive. Track your current spending. Not what you used to spend each month before the war began but what you’ve been paying lately for necessities. Then think about how and where you can cut back.

1.   Ride share so you can drive less.

2.   Clip and use coupons when shopping.

3.   Shop at Aldi’s for better prices.

4.   Pay for a Costco Membership to save at the pump.

5.   Meal prep to avoid dining out.

6.   Skip the movie theater and stream entertainment.

The war in Iran will eventually end, inflation will go down, and prices will begin to drop. In the meantime, contact Alloy Wealth for a financial plan that will include a long-term strategy designed to manage economic shifts like inflation. Call 800-689-3935 to schedule an appointment.