2022 has been a year with quite a bit of changes in the world of finance. With skyrocketing inflation, a housing market with record highs, and even more changes, we can learn a lot from this last year. Are you ready to head into 2023 prepared for the future?
 

Inflation Can Happen Quickly, Have a Budget Ready
 

We all saw massive inflation happening everywhere. From gas to food from the grocery store, prices have gone up significantly everywhere. There is no avoiding it, we can only learn from it.

Be prepared for the possibility of inflation at any given time. Sometimes experts can predict inflation, while other times miss the mark. You should make sure you are in a good place in case more inflation happens. 

One way to respond to inflation is to adjust your budget. As prices rise, you’ll need to cut out unnecessary purchases in order to make ends meet. If you are starting to feel the strain of inflation on your wallet, record everything you purchase in the month and analyze your spending habits. If they aren’t in line with your budget, you’ll need to adjust and try again. 
 

High Interest Rates, But Also High Savings Rates
 

Interest rates for loans are going up alongside inflation. Depending on your situation, this might keep you away from purchasing a home, a car, or making some necessary purchases. 

Being aware of interest rates is very important. When they are low, you should consider any purchases you need to make. Rather than waiting till you absolutely need a new car, buy when interest rates are low. The same with any type of loan. Act when rates are low, rather than waiting and being stuck with higher rates.

While interest rates are high, there is also potential for higher savings too. Often in inflation, you can utilize your money to earn more than normally. For example, Pioneer has great term certificate rates that can earn you extra money. 
 

Supply Chain Issues
 

Since 2020, but especially in 2022, we’ve seen the continuation of supply chain issues. The most prominent was the baby formula shortage, but most products in the store had some supply issue during the year.

This has lead to a focus on stocking up on essentials and such in case of a supply chain issue in the future. If there are things you need, consider stocking up on them now because it doesn’t seem like these supply chain issues will be going away anytime soon. Have a few weeks supplies of things like toilet paper, food, and other items you use daily.
 

A Job Market with Opportunities
 

The job market is exploding right now, with nearly every business hiring. That means plenty of opportunities for you to get a better or higher paying job. If you feel like you deserve a pay raise, you might need to get a different job in order to get paid more.

When everyone is hiring, many employers are willing to provide extra perks or pay to entice workers. This could include working from home, a signing bonus, better pay or picking your own hours. If you get a job offer without any extra perks, negotiate and fight for them. 

Pioneer is looking for talented and driven people to join our team. With great benefits like up to 8% 401(k) match, work from home opportunities, up to 18 days paid time off, and child care reimbursements, there are tons of reasons why you should work at Pioneer. 

Apply for a Job at Pioneer