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There are many ways of remedying one’s financial woes through astute financial planning that can even reverse a worsening financial downward spiral. Here are five recommendations from Efficient Wealth to recover and even enhance your financial situation:

Airbnb, an online marketplace focussed on short-term homestays and experiences, reported its highest quarterly profits ever, confirming that the travel industry continues its pandemic recovery in the face of historic inflation. This, in turn, confirms that global demand is still strong and that central banks will need to do more to curb demand and the upwards effect that it has on high inflation. The home rental platform saw its net profits climb 46% year-on-year. Trips to non-urban areas “are here to stay as millions of people have newfound flexibility in where they live and work”.

Last week, the United States (US) Federal Reserve (Fed) increased interest rates by 0.75% for the third consecutive time this year. Interest rates in the US now range between 3% and 3.25%, and many expect that rates will, most likely, increase to 4.40% by the end of the year. Fed Chairman, Jerome Powell, made it clear that they are willing to do whatever it takes to ensure that inflation is brought under control.