We did not receive any good news from the consumer price index in May. Inflation rose by 8.6% from last year, the highest in over 40 years. Washington has promised to do something about inflation, but we do not know when we will see positive results. Meanwhile, consumers have to deal with the rising costs of almost everything.
This means that wage increases and promotions, which usually provide more expenditure income, can barely cover the rising costs. It causes considerable stress and aggravation. Unfortunately, we have no magic spell or magic potion to cure inflation, but we will give you some tips on how to do some due diligence on your budget.
- Get personal finance software. Quicken will think about it immediately, and there are other providers that will help you better understand where your money is going. Looking at a monthly or quarterly report of your expenses will help you make valuable adjustments instead of just cutting back on your expenses.
- Take a closer look at your telephone subscription. You may have accepted a plan that gives you more than you need. The extra bells and whistles look good, but if you do not use them, you will spend the money you need elsewhere. Only have the telephone subscription that you can use.
- Make an energy inspection. Air conditioning in the summer and heating in the winter will cut deep into your monthly income. Cleaning and servicing your plumbing system can reduce costs during the high season. Maintaining properly inflated car tires saves gasoline driving. Energy-efficient appliances such as dishwashers or refrigerators are great money savers, and Energy Star products are best for efficiency.
- Take a closer look at your car insurance. You can save money on premiums by raising your deductible. Additionally, switching from a monthly to a quarterly or biannual payment plan saves administrative costs.
- Get help from a financial advisor. These professionals are experts in handling common money issues. Nationwide prepaid legal services have a financial well-being benefit that organizations can use to help their employees.
Get the best advice
There is a certified advisor in every community where there is a nationwide financial well-being client. That person can sit down with a plan member and discuss the personal budget. There are some suggestions that the curator has that the plan member may not know anything about. These little tips can save a lot of dollars, which makes sense for any budget-conscious person. Ideas on how to redistribute money, reduce certain expenses and save for the future are some of the benefits that one of our financial well-being advisors provides. These professionals, by the way, are also recruited for their sensitivity and empathy. Everyone feels valued when dealing with a nationwide financial well-being advisor.
The customer is there
We have several services that can benefit employees. We ask our customers to help develop a good plan. We explain all our options to the decision makers of a potential customer. These individuals will in turn decide which benefit options will be included in their plan. We answer questions but do not try to emphasize one financial well-being benefit over another. The choices made will be included in the final planning document. Countrywide provides excellent membership services and streamlined administration.
No one knows when the inflation situation will improve. People have to look at their budgets in the meantime and make allocation decisions. Our financial well-being advisors will choose the best strategies for managing your personal budget. We provide the extra due diligence that employees need in these uncertain times. As a result, we can reduce the stress and anxiety that hardworking people have to deal with now.
If you have any questions about our benefits, please contact us as soon as possible. We are here to help you and your staff get through difficult financial times and prepare for the best times.