Sexton Advisory Group’s Top Budget Tips for Fighting Inflation

Financial consultant Steve Sexton outlines best practices for adjusting your budget for inflation

SAN DIEGO, July 25, 2022 /PRNewswire/ — From rising gas prices to rising grocery costs, inflation is taking a toll on everyone’s budget. According to CNBCinflation has topped 9 percent in the past year, the biggest rise since the 1980s. Steve Sexton, financial consultant and CEO of Sexton Advisory Groupshares some practical budgeting tips to lessen the financial blow of inflation.

  • Be creative to reduce your monthly expenses. “Beyond cutting unnecessary expenses out of your budget, look at what bills can be reduced or negotiated for lower rates, like car and home insurance, your phone bill, and internet,” says Sexton. “When it comes to socializing, look for free activities like going to the community park or museum, or suggest a potluck-style gathering so the financial burden of hosting doesn’t fall on one person.”
  • Be more efficient when shopping for essential items. While lowering bills can help, there’s no denying that inflation also affects the cost of essentials like gas, groceries, and housing. “Consider ride-sharing options or trade in your vehicle for a more fuel-efficient car. Many states also offer tax credits or rebates for electric cars, making the switch to clean vehicles a worthwhile investment.” Sexton. “Meal planning and sticking to your grocery list will also help keep your expenses from skyrocketing, as will keeping your air conditioning in mind this summer. Cleaning your vents regularly can also help with more efficient use of energy.
  • Reduce your debt. “Like everything else, interest rates are also rising,” says Sexton. “Whether you have credit card or student debt, it’s important to pay the most you can afford each month to avoid having to pay interest. If you’re only paying the minimum, you’re actually paying more because of the interest you pay.” . accumulate.”
  • Keep investing if you can. “A diversified investment strategy will help account for long-term market ups and downs,” says Sexton. “If today’s market feels too risky for your finances, explore low-risk investment options. By making smart financial decisions now, you’ll thank yourself later.”

For more information on the Sexton Advisory Group, visit www.sextonaadvisorygroup.com.

Media Contact: [email protected].

SOURCE Sexton Advisory Group

Leave a comment

Stay up to date

Register now to get updates on promotions and coupons

Shopping cart

×