Tag: CPI

How to lower your rising energy bills

With high heat and humidity blanketing NJ this summer, our AC is working overtime to keep us cool.

The cost of staying cool (and warm) continues to rise with prices for residential energy services forecasted to continue outpacing overall inflation in the US.

To control these rapidly growing costs, many renters and homeowners have turned to energy efficient methods ranging from simple habit changes to significant home upgrades.

If you are interested in learning more about energy costs and how to lower your monthly bill to reduce your energy burden, then please read on.

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Is your purchasing power growing?

Purchasing power refers to the amount of goods and services you can afford to buy with your income, taking into account prices and the cost of living.

If making financial decisions in life were a video game, then you might have ‘real-time’ access to your purchasing power every time you faced a spending choice. For example, the game indicator might alert you that based on your current financial condition you can’t afford to buy this new car now, and offer you other options.

In reality you don’t need access to a real-time indicator, but understanding your purchasing power can help you make informed decisions that put you in the driver’s seat without compromising your financial well-being.

Purchasing power is a vital personal finance metric because it provides a realistic view of the value of your money over time, especially in the face of inflation. By understanding and monitoring your purchasing power, you can make more informed decisions about budgeting, saving, investing, and long-term financial planning to protect and grow your real wealth.

If you are interested in learning more about purchasing power and how to calculate it, then please read on.

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