Saving Amid Rising Costs

Inflation surged to 3.8% in April, pushing up gas, groceries, and everyday costs—forcing Americans to spend more and save less. The personal saving rate plummeted to 2.6%, its lowest since June 2022. Experts warn this trend threatens long-term financial health, especially retirement. Financial planner Nicholas Abrams urges sticking to savings goals—even if it means cutting back on non-essentials. Automating savings, he says, builds momentum and makes saving effortless. With higher prices likely to persist, consistent, intentional saving is more critical than ever. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c686c3a2070479c9