Workers are saving less after inflation. Here’s how to save more money.

A person with headphones walks a lot of dogs in a park.

When the cost of living began to soar last summer in response to a supply/demand mismatch, many people thought rampant inflation would be short-lived. Fast forward a year and that clearly wasn’t the case.

Inflation has been ravaging consumers since early 2022, and for some the impact has been worse than others. For example, many Americans have been forced to rack up unhealthy debt just to do things like leave the lights on and put food on the table. But even those who are more comfortable have to make cuts, such as cutting back on spending on leisure time and canceling vacations.

In a recent Morgan Stanley report, 62% of workers said they were saving less money due to the effects of inflation. And it’s easy to see why. But if you’d rather stick to your savings goals, there might be a solution that doesn’t require you to drastically cut back on your spending.

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