Prices remain high for much of what we buy, even as inflation has slowed. Stingily saving money, meanwhile, is a more profitable activity than it has been in recent memory. 

Since the Federal Reserve raised interest rates to a two-decade high, any dollar spent today is a lost opportunity to earn as much as 5% or more in savings accounts, certificates of deposit and bonds. High rates also make it significantly more expensive for people to spend money they don’t have, with the annual interest rate on some credit cards pushing 30%.