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According to a mid-October Moody’s analytics report, Americans are spending nearly $450 more each month to purchase the same goods and services that they bought a year ago as a result of high inflation.
The majority of budgeting advice emphasizes reducing recurring discretionary costs like streaming subscriptions and restaurant meals. Such actions might be challenging to maintain, and they might not result in sufficient savings to have a long-term impact.
Read also: Fed Officials Thought Americans Had Trillions In Excess Savings, New Data Shows They Were Wrong
If you're prepared for a more active approach, you might want to consider downsizing your main budget expenses, such as your rent, car …
Full story available on Benzinga.com
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Image and article originally from www.benzinga.com. Read the original article here.