Expert’s tip, because San Diego sees a sharp increase in daily costs
San Diego-Worries are rising almost as fast as inflation itself, many people have noticed The extra cost they paid Meet the daily needs from gas stations to grocery stores.
Although we are accustomed to seeing the cost of living increase by 1.5% to 2.5%, experts say that we are currently experiencing the fastest inflation increase in the past 12 years.
“In just a few months, we have seen a range of 3% to 4%, and over time, if we maintain an inflation rate of 3% or 4%, we will really start to feel It,” said Brett Gottlieb, president of financial advisors and general advisors.
Americans are usually accustomed to relatively low interest rates, low inflation, and overall consistent pricing, but these have been soaring recently as the cost of everything from gasoline to groceries has risen.
Gottlieb said to FOX 5: “Make sure your emergency savings are set aside and be prepared for three to six months so that you don’t have to buy it rashly.”
Gottlieb added that not all cost increases are related to inflation-some things are the result of the economy trying to recover from the pandemic.
“(This is) a job market where there are not so many people working. Therefore, it is more difficult to go out to cut trees and process them through factories and make wood for building houses, so now there is a shortage of houses and people want these houses,” He explained. “This is a trickle effect.”
In addition to the emergency fund, Gottlieb also provided some other tips for maintaining financial status, such as temporarily stopping topping up credit cards, refocusing on long-term financial goals, such as paying off cars or houses, and considering financial advisors.
It’s no surprise that the demand for these financial services is also on the rise these days.
“People think that retirement is in many cases when they need financial advisors or major life-changing events, but that’s why we say,’The sooner you start, the better.’ But there is no doubt that when there is uncertainty such as inflation At that time, the stock market has been very unstable, these are the types that create demand,” Gottlieb told FOX 5.