How you handle money over the next few years is key in reaching your future financial goals. One of your goals may be financial freedom – having enough money down the road to travel, pursue your passion and enjoy life. 

Given the challenges millennials face, this may seem like a daunting goal. 

For many New Brunswickers, money worries are top of mind during this difficult year. Financial stress can have a serious impact on your physical and mental health. Below find ways to help you cut back and make small changes that can have a big impact on seven spending areas. 

Everything seems to cost more these days. At the gas pumps and grocery stores, New Brunswickers are seeing higher prices, largely due to inflation. 

What is inflation?

Inflation relates to how the value of your money changes over a period of time. What your money can buy today compared to a period of time in the past is the measurement of inflation.  

Financial literacy plays a key role in a person’s ability to build financial resiliency and weather life’s storms. The importance of financial resilience was exemplified during the pandemic when many people lost their jobs, became caregivers for family members, or experienced major financial struggles due to decreased savings or inflation.