Advice: “Why is everything so expensive?” The year of inflation frustration.
Here’s what some financial experts say about how inflation affected people’s pocketbooks in 2022 and how to prepare for more tough times in the new year., director of personal finance for Morningstar: “The biggest personal finance issue in 2022, in my opinion, was inflation. We hadn’t seen anything like it in decades. My hope is that inflation is moderating, but it’s unrealistic to expect prices to go back to pre-2021 or -2022 levels.
, head of tax at Betterment, a digital investment advisory firm: “2022 was a year of anxiety for many in the economy and financial markets. Job losses and below-inflation raises have only contributed to the uncertainty.”Stay focused and disciplined for long-term savings goals. If the United States is headed for a recession, you may need those emergency funds.
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