On 25 October 2022, the Federal Government handed out its first budget. It was aimed at relieving the cost-of-living pressures, specifically at reducing the inflationary pressures. Whether you’re refilling the petrol tank or paying at the supermarket checkout, the higher cost of living is hitting every household hard. Across the world, everyday essentials are surging in price, up 7.2% year on year across the OECD. Unfortunately, experts predict that prices will keep rising for at least the rest of the year, and into 2023. What can you do to try to keep up with the increasing cost of living? Here are our 12 top tips: Look for ways to earn more
If prices rise by 7% this year, it won’t be easy to increase your income by the same amount. But if you can increase your income by 5%, then make up the rest through savings while also investing for the future, you can still come out on top once inflation settles down and prices stabilise. Worried about money? Talk to us. We have years of experience through many economic cycles, including previous periods of high inflation – and we’re always here to help. Comments are closed.
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May 2024
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