Women and inflation # 2

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money

M A frequent saying is that only 2 things are sure: death and taxes.  We should add a third sure thing: inflation.  Women predict inflation in the future will be higher than predictions by men.  Why? Possibly because women direct over 70% of spending in the United States. 

V Consider this. Many sources say that a realistic monthly food budget for a family of 4 is almost $900 dollars.  5% inflation means $945 dollars are needed for the same budget.  Other budget items may be impacted more or less by inflation. 

We always recommend an emergency account of 3—6 months in reserve for unexpected bills.  Count inflation hikes into that nowadays, expected costs. 

Given our prediction that inflation will continue, this emergency account is even more important.