Chief Economist Dana Peterson advises a three-pronged approach to personal finance as we head into 2024: thoughtful budgeting, reducing debts, and saving. With a potential recession on the horizon, these steps are more important than ever.
- Thoughtful Budgeting
To economize, Peterson suggests reevaluating your weekly spending. Simple changes, such as opting for store brands or enjoying home entertainment over going out, can make a significant difference.
Inflation, though it has declined since the summer of 2022, still poses a challenge to many, keeping the cost of goods relatively high.
