Champaign financial experts provide updates on the current economy

CHAMPAIGN, Ill. (WAND) - Financial experts in Champaign provide updates on the current state of the economy, and if people should be prepared.

Although prices for things like gas aren't as high as they were earlier this summer, there is still a lot of work to be done.

A managing partner at Tenet Wealth Partners say right now, the key to staying afloat is discipline, and staying prepared for anything.

"Inflation had not quite evaded as much as many investors had hoped or expected and that certainly led to a down day yesterday in the market. Overall, when we look at the general economy, I think there’s a lot of bright spots but there are certainly a lot of challenges that we’ve seen really play out in the stock market this year.” says Daly Andersson.

A few main concerns are unemployment, inflation, and worries about a recession. Assistant economics professor at the U of I says he predicts more rental increase in the future.

"As there is more turnover in the long run, people’s rent is going to increase by more than what we’ve seen so far. That kind of gives a mechanical reason that we would expect rental inflation to kind of continue for a while.” says Greg Howard.

There are many great things about the economy at the moment, but there are also some challenging areas as well. Unemployment is incredibly low right now, but that has also increased the inflation we've been seeing recently.