How to save more when inflation makes your money count less
By CHANELLE BESSETTE of NerdWallet
During inflation, consumers can adjust their spending and saving strategies to help lessen the impact that inflation has on the value of their money. It’s important to have liquid cash set aside for emergencies, but beyond an emergency fund, there are other ways to save money and help retain its value. These methods include seeking out higher interest rates on bank accounts, retooling your budget and spending, investing your excess cash or buying treasury bonds. No one knows how long this interval of high inflation will last, but the government will adjust the federal funds rate to help slow the economy and prevent hyperinflation.
