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jk78 / Getty Images/iStockphotoIf you didn’t think much about inflation a couple of years ago, you probably do now, as the cost of goods and services have skyrocketed, taking a bigger chunk out of the average American’s income.When you put money into a regular savings account, it essentially degrades in value, not keeping up with the cost of inflation. Emergency savings — that money you stash for unexpected expenses and emergencies — is money you want to be growing at the pace of, or faster than inflation.Watch Out: 10 Expenses Most Likely To Drain Your Checking Account Each MonthLearn More: One Smart Way To Grow Your Retirement Savings in 2024If you look back at the past 60 years, you’ll see just how far we’ve come, and not in a good way. According to Kirill Semenov, CFP and wealth advisor with Intellicapital, in 1960, the median home cost less than $12,000. It’s over $400,000 today.“If household incomes and housing prices moved at the same rate, an average house should still cost under $100,000,” he explained. “As the power of your dollar is depleting every day, it’s important to not get left behind.”So how do you inflation-proof your emergency savings? Here’s a look at advice from financial experts.©Shutterstock.comKeep It in a High-Yield Savings AccountBrandon Galici, a CFP with Galici Financial, encouraged consumers to keep emergency funds in a separate high-yield savings account.“This provides you with more interest than a typical savings account, is FDIC-insured and still offers quick access to your money.”Galici said not to worry too much about outpacing inflation with your emerg …
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