From rent and groceries to utilities, inflation has fallen in recent months, but families are still paying more than they did a year ago. According to a recent Moody’s Analytics report, the typical household spent $371 more on goods and services last December. They said he did in December 2021. In the past year alone, average grocery prices are up 10.6%, and average rent is up 7.9%, according to his planner Bill Dendi at Certified Financial. “Maybe it’s time to re-examine what we really have and what makes our lifestyles sustainable,” he says. says Mr. Here’s his Dendy advice for families with more moons than money: Eliminate budget waste with auto-renewal, subscriptions and unused gym memberships that separate needs and wants. Don’t shop when you’re hungry. As for the future of in-store sales using coupons, Dendy is optimistic. It will be affordable. There is one bright spot in terms of consumer prices. Gas costs will come down a bit, saving the typical family $1.55 a month compared to last year.
From rent and groceries to utilities, inflation has slowed in recent months, but families are still paying more than they did a year ago.
According to a recent report from Moody’s Analytics, the typical household spent $371 more on goods and services this December than they did in December 2021.
“Prices have gone up over 20% in the last two years, and 20% is well over budget, especially for families who didn’t have much leftovers at the end of the month,” said Bill Dendy, certified financial planner. says.
In the past year alone, average grocery prices have risen 10.6%, and average rent has risen 7.9%, according to Dendy. These price increases outpace wages, which rose only 4.6%.
“Maybe it’s time to re-examine what we really have and what makes our lifestyles sustainable.
Here’s Dendy’s advice for families with more moons than money.
- Get maximum profit from every dollar you spend.Separate needs from wants
- Eliminate budget waste with auto-renewal, subscriptions, unused gym memberships and more
- Be disciplined in what you spend. Don’t shop when you’re hungry.Use coupons and store sales
As for the future, Dendy is optimistic.
“If we can tweak spending to keep inflation under control, we hope that interest rates will return and debt will become affordable again, and that this period of prosperity will continue for many years to come,” Dendy said. rice field.
There is one bright spot on consumer prices. Gas is a little cheaper, saving the typical family $1.55 a month over the previous year.
