This upcoming Monday is Labor Day and most people have the day off. It’s a time to rest and has been in the past a time to take a short trip with the family. Here are some things that are different this Labor Day.
First, we have above average inflation. The price of everything from food to gas is up.
Second, the Fed is raising rates which impacts borrowing cost for consumers.
Third, on a positive note, more people are working from home, which if you don’t have kids in school, gives you more flexibility to take a trip.
Are you cutting back on travel plans, when compared to prior years? Has the price of gas curtailed or eliminated that short Labor Day road trip? Has job insecurity led you to cut spending, such as travel? I’d love to hear what you are seeing and how you are personally handling it.