By Colleen Weber, CFP^®, CPA

In just one year, we’ve seen shocking increases in prices as inflation degrades the value of our money right before our eyes—with no clear end in sight. Case in point: gas is up 58%, meat 13%, food 6%, and used vehicles 31%. (1) For months we were told the current inflation crisis was transitory, what seemed like a slight inconvenience. But now it’s official: after months of being told the current inflation crisis is transitory, Federal Reserve Chair Jerome Powell announced that we can expect high inflation to continue into 2022. (2)