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LOGAN — With nearly everything in our lives costing more money lately, some financial experts at Utah State University have made all of their resources easier to find. They created a website dedicated to fighting inflation.
The website is new and creators have already seen some common concerns and mistakes.
Gas prices have received a lot of attention, but inflation is everywhere and it has impacted people like Margaret Hammond.
"Yes. It's been really crazy," she said. "I'm having to buy a lot less, having to stretch more than usual. Things like that."
Recognizing the problem and making immediate changes are a small but important first step.
"Something else has got to give. And that's more a decision for me, of what I value in the future than what I value today," said USU professor and accredited financial counselor Amanda Christensen.
She said it's important to track your finances if you're not doing it already. "It takes time. It's not something that you can just get away with spending 10 minutes on and you're good."
Christensen and other professors at USU saw good reason to put all their resources into one place. The new website has advice on saving money, cutting expenses, and home buying, among other topics.
"Things that are flexible, that I can spend less on so that in the future I'm not really taken aback by this inflation that's happening today," Christensen explained.
You don't have to take all the fun out of your life to save, she said.
Christensen said there's a big mistake a lot of people are making right now. "The increase in credit card applications, those are sort of through the roof," she said.
Don't finance your life away to maintain your pre-inflation standards of living, she suggested.
"With the feds raising interest rates multiple times this year already, those credit card rates are linked directly to that rate," Christensen said. "So we're going to be paying more for any debt that you incur today. That's not inflation-proofing your finances."
Click here if you think the website can help you.
It includes information about webinars, online courses, and group classes.
