Paycheck to Paycheck

We are all feeling the pinch of inflation. In the last gas crunch, there were many on the expressways slowing down. They were going the speed limit and not five to seven miles over to save gas. If I’m not going to be late for an appointment, I’ve slowed it down.

How many trips are necessary to the supermarket? What about cutting out one trip per week.? In my case, I live in the country, and a one-way trip to the store costs more than $5.00 in gas (I’m getting 20 miles to the gallon.) There and back $10.00. When you break it down like this, you see how it all adds up to less in my pocket.

Are we accepting that inflation and gas prices are taking more of our spendable income and ravaging our savings account if we don’t manage it. Are we going to change how we spend our money? How we repair our cars?

The pundits say we are paying more than $400 additional a month out of our pockets. I’ve heard up to $500 monthly, six grand a year.  I can’t substantiate it, but they may not be that far off. The proof is food prices and shrink-flation (same price, less quantity). Been out for dinner lately? Bought a drink with dinner? Prices are up at an unprecedented rate, and many that work in our industry or work for you may find it harder to save or even live paycheck to paycheck. Recently, Ann and I went out to a restaurant we had two caesar chicken salads and two drinks for $60 with tip. Imagine.

Please be aware of your key people’s financial situation. Speak to them and look inside your business and do what is necessary to help them and keep them.

Important: Please listen to a great episode on ‘Inflation’ from Hunt Demarest. Hunt, as many know is a CPA and had a podcast on the Aftermarket Radio Network. to listen.