By René Bennett
From Bankrate
While inflation is at the highest it’s been since the early 1980s, many people—especially those living paycheck to paycheck—may be struggling to save any money at all.
Inflation is likely to remain high, with most economists polled in Bankrate’s Second-Quarter Economic Indicator survey predicting inflation will remain as expected or heat up even faster. With consumer prices sky-high, inflation continues to outpace wage growth and savings rates, making it difficult for Americans to find room for saving.
Still, it’s important to save—or avoid spending what savings you have—especially with the potential for a recession. Until the beast of inflation is tamed, there are some strategies you can take to soften its blow on your finances, protect savings and develop better financial health overall….