Inflation Hits Home… Now What? – Financial services

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Financial management begins at home and ends up in our work. Inflation is that regressive tax that hits us all, regardless of our income level. That said, indications from experts and surveys suggest that consumers are making decisions with their wallets and quickly. As we examine the response of businesses to changing consumer behaviors and sentiments, one thing is clear, it is best to be nimble and flexible with business spending decisions. Outside of previous commitments to technology or compliance spending, most investment dollars will be reviewed throughout this year and into 23. Our CFOs are leaning into the old adage…”L ‘cash is king’…and prepare for tighter controls on the budget and discretionary spending. On second thought…should we investigate beyond cost reduction and dig deeper into the why of the spending itself. More progressive thinking, and partly fueled by consumer behavior, leads to more discussion of the overall essence of the costs incurred and the adaptability of the business model. There is a lot more on this subject to digest. Time has never been an ally in a dynamic environment…

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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