MONROE, La. (KTVE/KARD) — Many consumers in the ARK-LA-MISS are still burdened by inflation. According to the U.S. Bureau, The Average price for a dozen Grade eggs in the U.S. was 4.25 in December 2022; at that same time, in 2021, they were $1.79. The Average Gas price in Louisiana is $3.21, which is lower than the record high of 4.55 in June of 2022.

Darren Oglesby, the president and CEO of Oglesby Financial Group in Monroe, La., gave tips on budgeting during this difficult time. Oglesby says it is essential to differentiate between wants and needs. He also advised that the people who are impacted the most are those who cannot afford to meet their everyday needs.

The folks being impacted the most are those who are struggling to meet the basic everyday needs. They can’t stop those prices from going up and there are things they need. If their wages are not going up enough to keep up with that, they’re dipping into their savings or they’re lowering their savings rates, and they’re running their personal debt up.

Darren Oglesby – President and CEO of Oglesby Financial Group

Oglesby also advised consumers to be aware of certain obstacles to avoid getting in a financial bind.

I think the biggest thing to look at is when you’re purchasing something, ask yourself, is this a need or a want? Always factor in what the rising interest rate will do to your monthly budget. Avoid the obstacles in areas like zero percent financing, buy now pay later and running up personal debt.

Darren Oglesby