When inflation first started to pick up, it was an annoyance. Prices were rising on groceries, and dining out became a luxury. Fast forward a year, and prices are up on just about everything, including utilities, gas, and even car insurance. Inflation is wearing people financially thin.
When you purchased your car, you probably didn’t buy it on a whim. Instead, you researched vehicles to find the one that best matched your lifestyle. Perhaps you needed an SUV for your growing family. Or you wanted a car with excellent gas mileage for commuting. Regardless, your car reflects you and your personality – and you love your car.
Between the twinkling lights, cheerful music, delicious food, and endless laughs with family and friends, the holiday season is the merriest time of the year. But those ear-to-ear smiles don’t always come cheap. From travel and entertaining to gifts and decorations, the holidays can get pricey. Add in rising inflation and higher prices, and many are beginning to stress about the upcoming celebrations.
Buying your first car is both exciting and a bit overwhelming. It’s a big decision that will impact your finances for the next several years. As a first-time buyer, you want to know you’re making the right choice and not being taken advantage of by the dealership.
It’s pretty safe to say that everyone has felt the effects of inflation at this point. While some inflation is good for the economy, such a dramatic rise in a short period continues to send prices soaring. To stop the climb, the Federal Reserve continues to raise the federal funds rate – a move that further hits consumers’ wallets.