Inflation Has Hit 3.5% — So You'd Better Do This With Your Savings Now, Pros Say

With inflation increasing the cost of living, CFP® professionals said consumers may need to reassess how much they keep in emergency savings, while high-yield savings accounts can help offset rising prices. CFP Board Ambassadors Nicole Carson, CFP®, Cristian Mundy, CFP®, Elaine King Fuentes, CFP®, Kurt Whitesell, CFP®, Kendell Frye, CFP®, and Anna N’Jie-Konte, CFP® advised reviewing expenses regularly, particularly after major life changes, to ensure emergency funds remain adequate.

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