Navigating higher costs during inflation

INDIANAPOLIS (WISH) — Prices are continuously on the rise causing ongoing inflation issues for many Americans.

Local financial professional, Casey Marx, from Crown Haven Wealth Advisors joined News 8 to explain the ongoing inflation issues and outline strategies to help navigate higher costs.

Marx says a few money moves that should be considered as prices continue to rise include staying invested, updating your income plan, and meeting with a professional.

“Inflation was caused by supply chain shortages, and those persist. By increasing the costs of borrowing, they’re literally trying to slow down demand. That’s the purpose of all of this, to slow down demand,” Marx said.

For more information on inflation rates and money management, watch the video above.