The Bureau of Labor Statistics March Consumer Price Index (CPI) report suggests inflation may be sticking around for a while, with rising shelter, food, and energy prices. The Money Coach Founder and CEO Lynnette Khalfani-Cox joins Yahoo Finance’s Wealth! for savings tips that won’t completely disrupt your lifestyle.
Khalfani-Cox urges her clients to focus on a “switch and save strategy.” This strategy doesn’t ask savers to stop spending altogether but to choose a less pricey alternative to existing purchases. For instance, Khalfani-Cox says that opting for a prepaid over postpaid phone service can result in hundreds of dollars in savings.
Factor a “fun fund” can also remove guilt from the financial equation and ensure you aren’t spending more than you earn.
For more expert insight and the latest market action, click here to watch this full episode of Wealth!
Editor’s note: This article was written by Gabriel Roy