Dana Peterson, a leading economist, advises individuals to rework their budgets, minimize debts, and boost savings as 2024 approaches. This strategy is crucial, considering the high likelihood of a recession in the first half of the year.
- Rework Your Budget
Peterson recommends a close examination of weekly expenses to cut costs. You could save by choosing generic brands in supermarkets and clothing stores, or by replacing nights out with more affordable home entertainment.
Despite a decrease from its peak in 2022, inflation continues to impact household finances, making most items expensive.
