Managing your finances as debt and prices soar

If prices at the grocery store and gas pump have you struggling to stay on top of your finances, you are not alone. Credit card debt in the United States increased from April through June this year according to an August report by the Federal Reserve Bank of New York. The report found that inflation was the main driver of the increase in debt.

Guest host Chris Farrell spoke with two personal finance experts about managing money, and answers your questions about how to budget, reduce debt and save.

Guests:

• Nneka Constantino hosts the weekly Financial Fitness radio show on KMOJ radio. She runs Elsa’s House of Sleep, a family business in St. Paul, which was featured in Small Business Revolution on Amazon Prime and Hulu. She is also a vice president and senior financial advisor with Merrill Lynch Wealth Management.

• Sharon Powell is an educator with the University of Minnesota Extension. She specializes in financial capability and family relationships.

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