How’s your savings account? It seems we’re all pinching pennies nowadays to keep up with the rising prices of goods and services.
Gas prices have never been higher, reaching a national average of $5.014 on June 15, a 49% increase compared to a year ago. Food is up 12% year over year, ending in May — the largest one-year increase since 1979. Used cars are up 16%, and home prices have risen 5.5%. Several of these percentages are sure to increase further, seeing that the feds just increased interest rates by 0.75%.