By Caleb Lombardo |
Jun 8, 2022
Rising inflation and cost of living expenses have had severe impacts on the savings capabilities of Georgia residents, a new index finds. In its quarterly BMO Real Financial Progress Index, which is an index that is designed to measure Americans' sentiment surrounding financial confidence, it was found that up to a quarter of Georgians may need to delay retirement to compensate for missed savings opportunities as a result of inflation. Paul Dilda, Head of Consumer Strategy for BMO Harris Bank, said, "Inflation and rising consumer costs are severely affecting Americans' financial situations, and according to recent index results from BMO Harris Bank, in addition to altering their spending habits, Americans need to alter their saving habits too.