News 12’s Elizabeth Hashagen was joined this morning by George Kamel, a personal finance expert and co-host of "The Ramsey Show," to talk about finances, budgets and rising inflation.

Inflation is costing U.S. households close to $400 more a month. Consumers are still feeling the pain, particularly when it comes to the cost of food, shelter, airfares and new automobiles. Kamel talks about how to budget your finances to account for these items:

Six out of 10 people think that a recession is coming. What does a recession really mean and how should people prepare for it?

Kamel explains more about the benefits of waiting until you are out of debt to invest:

When it comes to real estate, home prices are almost always driven by supply and demand and not by inflation or interest rates. What does that mean for first-time buyers? What are lenders looking for when approving a mortgage for young people?

Kamel talks about finding a delicate balance when raising interest rates. Why would the Federal Reserve raise interest rates again if there is a recession?