For anyone who buys groceries, drives a car, purchases home supplies, has children or pets, enjoys entertainment, longs for travel, or you know, lives life, you’ve probably been burdened with the rising costs. Reports show that the majority of Americans are feeling the mental toll of these increases: According to the monthly poll done by the American Psychiatric Association (APA), 90% of Americans have expressed anxiety about inflation, which is up 8% over last month.
And for most of us, rising price points mean more strategic budgeting practices. While practicing smart budgeting is essential anytime of life–good or bad–it becomes even more critical when money gets tight.
And for those worrying, “budgeting” doesn’t automatically mean trimming down or cutting out every expense that’s not a top line essentials (food, shelter, and the like). In fact, most experts will encourage you to make room for the things that support your well-being, as a healthy body and mind are critical during stressful times.
So we pulled together some of our favorite budgeting tips and mindset shifts from top experts that you can use right now.