Inflation is at a record high of 7%! Let’s talk about what this means for the average American today. Not only are items of daily living going up in price but you maybe getting a pay CUT!
According to the Bureau of Labor Statistics (BLS), the national average gross salary in 2020 was $56,310. With 7% inflation that same salary is worth $52,368.3!
Lets break it down a little more this is the difference of making $27/hr and $25/hr. Just something to think about as most companies move into annual reviews. Also this is a moment to think of a way to put your money to work.