A bit of economic inflation is normal, but the current rate of 8.6% is the highest since the 1980s!
If you’re wondering what is going on, you’re not alone. Here’s a quick rundown of what’s happening:
– The cost of living is increasing at a rate that outpaces wage growth, meaning that people are effectively earning less money than they were a year ago.
– The government is borrowing more money to finance its operations, contributing to higher interest rates and inflation.
– The central bank is printing more money, contributing to inflation.
So what does all this mean for you and your money? Inflation erodes the purchasing power of your money, so it’s essential to invest in assets that will keep up with or exceed the inflation rate. One of these assets includes a new heating and cooling system.
If you’re considering upgrading your old system, now might be a good time for a few reasons. One, you will have a more efficient system saving you money on your energy bills. You’ll also be investing in an asset that can contribute to the value of your home. It’s also wise to buy a new system now since the cost of copper (used as refrigerant housing and wiring) and steel (the unit itself, ducts, and the casing for the motors) continues to rise.
So, there you have it: a little information on what’s causing inflation and why, with rising costs, there’s no time like the present to upgrade your heating and cooling system.
If you’re worried about inflation, and the rising costs of a new heating and cooling system, call us. We’ll be happy to give you a quote on a new system and help you with the best financing options to fit your needs.