Finance Experts Are Strongly Encouraging Consumers To Save As Much As They Can This Holiday Season — Here’s Why

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With the festive season on the horizon,consumers are grappling with the dual realities of persistently high prices and the allure of increased savings. What Happened: The recent uptick in inflation has not eased the cost of goods significantly, while the Federal Reserve’s decision to hike interest rates to a level unseen in two decades has made saving more appealing than ever. Every dollar spent today could potentially miss out on returns as high as 5% from savings avenues like savings accounts, certificates of deposit and bonds. Moreover, the elevated interest rates have made borrowing more e…

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