Spending habits changed drastically during the worst of the COVID pandemic, making today a time to re-evaluate family budgets. Many parents found themselves increasing spending on their children both out of necessity and in an attempt to placate kids during such uncertain times. As we emerge from the pandemic into an economy with high inflation, many families need to reassess their overall budget and expenses. Here we discuss how to objectively determine if and where you need to cut back on expenses, how to explain this to your kids, and how to realign your spending with your family’s financial values and goals.
Scaling Back Spending Post-COVID
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