(WFSB) – The rise in inflation is forcing families to make some tough decisions when it comes their budgets.
Some are looking for more income to just pay bills.
Eyewitness News met a teacher and a college professor who are both making changes just to make ends meet.
Before the end of his 24th year teaching school, Matthew Macaluso already had a summer job lined up.
Not just to help pay for supplies in his classroom, but to help pay bills at home.
“It was simply because I wanted to contribute more to my household,” said Matthew Macaluso, history teacher.
Like many families, Macaluso said everything is just more expensive.
He said his grocery bill has easily doubled.
“We have two growing boys in our house. Easily my oldest will have 4000 calories for dinner because he’s athlete. We have to keep up with that,” said Macaluso.
Many families are feeling the same financial strain.
it’s worse, according to a Galloup survey, for lower income families.
More than 7 out of 10 say the rising cost of everything is creating a more unrecoverable hardship.
“People are facing inflation pressure everywhere,” said Dr. Mohammad Elahee, Professor of International Business at Quinnipiac University.
He said more people are looking and getting second jobs.
“It is relatively easy for people compared to the last 10 or 15 years to get a second job. And many people are getting a second job and that is helping them pay their bills and keep up with inflation,” said Elahee.
According to dollarsprout.com, a personal finance website, 41-percent of side hustlers relied on a side income to cover monthly bills last year.
That’s up from 27-percent in 2020.
Dr. Elahee said it makes sense to delay any big budget item right now, such as buying a car.
He’s delaying his vacation.
“I’ve been delaying my trip to Europe because I know right now I can’t afford it. It was cost too much,” Elahee said.
“Six months ago, I was paying $40 dollars to fill up my tank, and four days ago I paid $80 dollars to fill up my tank,” said Macaluso.
Macaluso’s second job will be as a pilot instructor this summer.
He said most of the extra money will help him and his wife manage inflation a bit better.
It is the high cost of life now, forcing many families surviving this stressful financial period to find a way to pay for it all.
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