OPINION: Tightening the belt is never fun, but your employer-sponsored financial wellness benefits may be able to help you weather the inflation storm, financial adviser Krystal Barker Buissereth writes.
If it seems like prices are rising every day, that’s because they really are. In fact, March’s Consumer Price Index saw inflation hit a new 40-year record of 8.5%, beating February’s high.
If you’re wondering what you can do to make your dollar go farther, let’s talk through three ways your workplace benefits may be able to help you deal with the effects of inflation on your finances.Check with your employer for benefits that can help you better organize your finances and tackle the challenge of inflation.
Start by figuring out the total amount of debt you owe, the interest rate you’re paying on each debt item, and the minimum payment due for every debt obligation. Then, construct a plan to crunch it down—maybe starting with the highest interest rate or the lowest balance.
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