Barista Chrystal Kasdin and her CNA husband Raymond have tightened their budget over the past few months.
"We just completely cut out eating out. This is our first meal out in about a month," said Kasdin.
And it's been especially challenging after their car broke down.
"Every time I see a new car, I'm like, I want it. But, you know, putting a down payment is too much," explains Kasdin.
For now, the couple is sharing a scooter to get around.
"Yeah, it's tough. It's tough. Everything…everything's tough," said Kasdin.
Just outside Lighthouse Coffee, KSBY spoke with remote tech worker, Zak Shellabarger, who says his family is also feeling the squeeze.
"I have three kids, three young kids, and, I think where I feel at most is groceries and an inability to buy a house. Like, how on earth would you begin to tier, your finances in a way that you can buy a house in this economy making around $200,000 a year, which you would think would be enough, but it isn’t," said Shellabarger.
Over on State Street, retiree Beverly Linberg said she’s concerned but isn’t making any changes.
"You know, truthfully, I'm in a wait-and-see mode. You know, I feel like there's been a lot of back and forth, and I don't really trust what's going on," said Linberg.
Client advisor Joey Khoury at Mission Wealth says rushing to find solutions can sometimes make things worse.
"Unfortunately, we live in a world where we have instant data to everything, and it's all short-term data. And if there's one thing I could say is that short-term data makes for bad long-term decisions," explains Khoury.
No matter the size of your bank account, Khoury encourages people to diversify investments and to look at data over time. And if you are unable to afford a house, Khoury suggests other ways to build wealth.
"You want to look at bonds or private credit. With elevated interest rates. It's one of the best times in the last 20 years to get some income from bonds," said Khoury.
He also explained the current stock market slump isn’t something financial advisors are worried about.
"The S&P is down about 14%. That's within the normal range of movement for the S&P 500. The cause can be abnormal, but the range of movement is certainly what investors should know they're signing up for," said Khoury.
