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Wages Are Rising....But So Are Prices

by

🙊Every party has a pooper, and inflation is one stinky, unwanted guest!

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đŸ”„The job market is hotter than that picture of Burt Reynolds on a bear skin rug, and wages are on the rise
 but that extra cash isn't going into savings accounts. It’s going toward the grocery, gas, and
 everything
 that got way more expensive all of a sudden.

Here’s Five Fast Facts on the good, bad, and what you can do about wage and price increases:

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  1. đŸ€‘ More Money... - Full-time workers are making an average of $3,536 (6.2%) more than last year. Yay!
  2. 🙁...More Problems - Gas now costs an average of $1.81 more per gallon than last year
 which adds up to an extra  $1,551 per year for most Americans. We’re not pumped about this news.
  3. đŸ„© 
Even More Problems - Prices of supermarket staples like eggs, ground beef, and fruits have gone up by double-digit percentages. The average grocery shopper is spending an extra $300 per month. That’s a hard cost to swallow.
  4. 🏡 
Even More
 Well
 you get the point - This time last year, mortgage rates were just under 3%. Today, they're over 5%. This hike will cost new homebuyers an additional $4,400 per year. Suddenly, that tent off the grid doesn't sound so bad

  5. đŸ’ȘSmart Paychecks Take Action - Push back on inflation and rising prices by doing something like asking for a raise, starting a side hustle in the “gig economy”, saving money on groceries, or deciding if you should put off retirement. And as a bonus, research shows that couples who save together usually stay together, too!

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đŸ”„Bottom line: More money in Paychecks is always a good thing... However, you’re going to have to be smart about how you use it at a time when prices are increasing.

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Got more money in your Paycheck to celebrate? Got more bills to gripe about?? Tell us all about it by connecting with us on Social Media and be sure to share this newsletter with any friends & coworkers!

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