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Showing posts from April, 2022

Coping With Inflation: A GenXer's Case for Embracing Higher Prices

  The news this week has not been good. For those following the economy (even beyond pain at the pump), the Consumer Price Index, that is, the average of what we are paying for average goods and services, is up by 8%.   As you’ll likely hear on the news, this price increase is the largest, percentage-wise, we’ve seen since 1982.   If you’re a comfortable middle-to-upper-middle class person, it means that you’re probably cutting back on dinner out and putting off recreational purchases, and putting less back in savings.   If you’re closer to the bottom of the economic food chain, however, you’re making tough choices regarding gas versus the things your kids need to get through the week.   The CPI is no joke, especially considering that most American families have about $3000 in savings (with a full third having less than $1000) ( https://www.fool.com/the-ascent/research/average-savings-account-balance/ ).   Many people, unfortunately, have very little to fall back on. While it’s tempt