Fresh market data: has shown stubborn inflation, rising interest rates, and positive employment data will most likely delay Fed interest rate cuts.
The Bureau of Labor Statistics: on April 10th showed prices rose 3.5 percent from March 2023 to March 2024. Rent costs rose 0.4 percent in March, car insurance rose as well as energy costs.
Inflation Impacts Budgets: How do you reach your financial goals and account for these increased costs? About 68% of consumers say a budget would help them reach their personal and family goals, yet 40% say they have never had a budget, according to a poll by the CFP Board.
Most Americans overspend and cover it with credit cards. A survey from NerdWallet found that 83% of Americans say they overspend, and a similar proportion who have a monthly budget (84%) say they exceed it and of those 44% cover it with credit cards.
How do you change your view of budgeting from a negative to a positive? Check out Winnie Sun, who you may recognize as a longtime Forbes contributor, CNBC FA Council member, and founder of Sun Group WP, for tips on how to reframe your budget into the positive and grow your money:
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
The financial advisors at Sun Group Wealth Partners are registered representatives with and securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Sun Group Wealth Partners, a registered investment advisor and a separate entity from LPL Financial.
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