As inflation is rising by eight to nine percent, many Americans are finding themselves in a position they may have never been in before, living paycheck to paycheck. A Wiregrass financial expert shares tips on how you can get out of this.
DOTHAN, Ala. - As inflation is rising by eight to nine percent, many Americans are finding themselves in a position they may have never been in before, living paycheck to paycheck.“They look down and they’re telling me I can’t believe i spend so much money doing this,” said Marc Hall - financial adviser.
“Go back and look at what exactly are you spending money on because if it’s a tight time you may be looking for time of temporary sacrifice,” said Hall.
“It helps give you some built in cushion so that if you do suddenly face an unexpected expense you can turn to that savings that you’ve built up for example to cover it,” said Kimberly Palmer - Nerd Wallet. “What it comes down to is finding a budget that you can stick with and that works for you because the most important thing is that whatever your income is you need to be spending less than that in order not to get behind,” said Palmer.
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