It seems that we can never watch the news without hearing about gas prices or inflation.
Yes, prices are higher than ever, but how much does it matter?
At the gas pump, it stinks, but it doesn’t affect our wallet that much. We usually don’t drive far each month, so we don’t need a lot of gas. However, when we make the multi-state trip home to see family, it gets expensive.
Indirectly, though, I think we’re all feeling the pinch.
My husband takes the bus to work, and the fare recently went up.
Prices of some groceries at Aldi have increased by a dime or more.
The cost of just about everything has increased, it seems.
Inflation for 2007 was a staggering 4.1 percent. Yikes! That means, having money in a high-interest account such as ING at that rate means you’re breaking even. Having money in savings at a lesser rate means it isn’t as valuable.
Should we freak out? No, I don’t think so.
- We need to make sure our savings accounts are earning interest keeping on par with inflation
- Continue living frugally, making wise shopping decisions and making do with what you already have
- Realize that the economy has cycles, and it will likely get better eventually
How is inflation/gas prices affecting you?