Yeah, You’re Not Imagining It. Life Is Expensive.

Oct 5

2 min read

I almost had to do a double take at the gas pump this week.

Fortunately, I work from home, so I don't have to fill up very often. But about three and a half weeks ago, I paid $4.49 a gallon.

This week?

$5.01.

Excuse me?

That's a 52-cent increase in less than a month where I live.

Then I went to the grocery store and saw a regular-size candy bar for $1.97.

Not the king size. Not the family size. The regular one.

You're not imagining it. Life is expensive.

And I don't know how many more times we can tell people to "cut subscriptions" and "make coffee at home." Yes, be mindful of your spending. But many of you have already done all the cuts.

You're already stretching the paycheck as far as it will go, and this is bigger than your household budget.

While those bigger conversations continue, we still have to manage the money in front of us. So here are two things I want you to do.

One: Make sure your savings is working for you. If your emergency fund is sitting in a traditional savings account earning next to nothing, look into a high-yield savings account. SoFi, Capital One and Forbright Bank are three worth comparing right now. Rates change, so check the current APY and account requirements before opening anything.

Two: Keep investing. Whether that's investing in your 401K, Roth IRa, or brokerage account. Adjust the amount if you need to, but don't quit if you can help it. Stay consistent, stay diversified, and give your investments time to work. When the economy starts acting a little funny, I like to keep it simple. VTI, VXUS and SCHD are three ETFs I use for a "set it and forget it" approach with money I won't touch for five years or more.

And if your employer offers a match, don't leave it on the table. Do at least the maximum percentage they're giving (i.e. if they are matching up to 3% you contribute up to 3%) If money is tight, it's okay to lower your contribution for now and raise it again when things improve.

Do your own research, and remember this isn't personalized financial advice. If you want to talk through your options, I'm only a conversation away.

Gas, groceries, housing: EVERYTHING might be high right now, but your future is still worth building.

Because when everything costs more, every dollar matters more.

Keep doing your best.

Until next Monday,

-Monia