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America is known for its economic might \u2014 yet more and more of its citizens are struggling to afford enough food.<\/p>\n
A new survey from Morning Consult, as reported by Axios, finds that 15.6% of U.S. adults said they sometimes or often didn\u2019t have enough to eat in May \u2014 nearly double the share from 2021.<\/p>\n
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At the time, expanded benefits like the Supplemental Nutrition Assistance Program (SNAP) and the enhanced Child Tax Credit helped improve access to food. But those supports have since rolled back \u2014 and the situation appears to be worsening.<\/p>\n
Morning Consult Chief Economist John Leer pointed to the growing disparity between financial markets and real life for many Americans.<\/p>\n
\u201cThere’s such a disconnect now between record highs on Wall Street and elevated levels of food insecurity,\u201d Leer said in the report.<\/p>\n
Philadelphia\u2019s Share Food Program \u2014 a major food bank network in the city \u2014 has seen demand for food surge by 120% over the past three years. Program director George Matysik said the need began climbing as soon as federal aid started to drop in 2022.<\/p>\n
Matysik is concerned that with Congress having just passed a major cut to SNAP, the situation could get worse. Recent research from the Urban Institute suggests that the \u201cbig beautiful\u201d reconciliation package would cause 22.3 million families to lose some or all of their SNAP benefits.<\/p>\n
How to fight rising living costs \u2014 and save on everyday essentials<\/p>\n
It\u2019s no secret that food prices have climbed sharply in recent years. The food index in the Consumer Price Index (CPI) has surged 26% over the past five years \u2014 and the USDA expects food prices to rise another 2.9% in 2025.<\/p>\n
But groceries are just one part of the squeeze. From rent to utilities to transportation, inflation has been steadily eroding the purchasing power of your hard-earned dollar.<\/p>\n
That\u2019s why it\u2019s more important than ever to keep a close eye on your budget. With a bit of research, even essential expenses can often be significantly reduced.<\/p>\n
For instance, car insurance is a major recurring expense, and many people overpay without realizing it. According to Forbes, the average cost of full-coverage car insurance is $2,149 per year (or $179 per month).<\/p>\n
However, rates can vary widely depending on your state, driving history and vehicle type, and you could be paying more than necessary.<\/p>\n
By using OfficialCarInsurance.com<\/a>, you can easily compare quotes from multiple insurers, such as Progressive, Allstate and GEICO, to ensure you\u2019re getting the best deal.<\/p>\n In just two minutes, you could find rates as low as $29 per month<\/a>.<\/p>\n Meanwhile, you can use a platform like the Upside<\/a> cash-back app to save on everyday essentials like gas, groceries and dining out. After downloading the app, simply claim offers at locations near you. For instance, users can earn up to 25 cents back per gallon<\/a> on fuel, helping to ease the sting at the pump.<\/p>\n Plus, you can also get a bonus 25 cents off per gallon with code MONEYWISE25<\/a> on your first transaction when you sign up.<\/p>\n Read more: Rich, young Americans are ditching the stormy stock market \u2014 here are the alternative assets they’re banking on instead<\/a><\/p>\n 2 time-tested ways to hedge against inflation<\/p>\n Inflation\u2019s compounding impact adds up over time. According to the Federal Reserve Bank of Minneapolis\u2019s inflation calculator, $100 in 2025 buys what just $12.05 could in 1970 \u2014 a stark reminder of how the value of money erodes.<\/p>\n But savvy investors have long relied on certain assets to guard against inflation\u2019s bite.<\/p>\n One of the most well-known is gold. The appeal is simple: Unlike fiat currency, gold can\u2019t be printed in unlimited quantities by central banks.<\/p>\n It\u2019s also long been viewed as a classic safe haven. Gold isn\u2019t tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it \u2014 driving prices higher.<\/p>\n Over the past 12 months, the price of the precious metal has surged by more than 35%.<\/p>\n Ray Dalio, founder of the world\u2019s largest hedge fund, Bridgewater Associates, recently highlighted gold\u2019s importance as part of a resilient portfolio.<\/p>\n \u201cPeople don’t have, typically, an adequate amount of gold in their portfolio,\u201d he told CNBC earlier this year. \u201cWhen bad times come, gold is a very effective diversifier.\u201d<\/p>\n One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold<\/a>.<\/p>\n Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold<\/a>, making it an option for those looking to help shield their retirement funds against economic uncertainties.<\/p>\n When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in precious metals<\/a> for free.<\/p>\n For those seeking income alongside protection from inflation, real estate offers a time-tested alternative.<\/p>\n When inflation goes up, property values often climb as well, reflecting the higher costs of materials, labor and land. Meanwhile, rental income tends to rise, providing landlords with a revenue stream that adjusts with inflation.<\/p>\n Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has surged more than 50%.<\/p>\n These days, you don\u2019t need to buy a property outright to benefit from real estate investing. Crowdfunding platforms like Arrived<\/a> have made it easier than ever for everyday investors to gain exposure to this income-generating asset class.<\/p>\n Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100<\/a>, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants.<\/p>\n The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you\u2019d like to purchase, and then sit back as you start receiving positive rental income distributions<\/a> from your investment.<\/p>\n What to read next<\/p>\n