The Growing Shadow of Inflation

by Sean Sandefur, Victory Wealth Services

When you were a kid and someone would hand you a $10 bill, they’d say: “Don’t spend it all in one place!” A fun little bit of advice much harder to accomplish today. These days you’re lucky if $10 buys you a decent cheeseburger.

Inflation casts a shadow over our finances as it continues to erode the value of the dollar. These days that shadow feels especially imposing as inflation rates have been sitting around 6% to 8%.

WHAT CAUSES INFLATION?

Inflation is driven by factors such as demand-pull, in which consumer demand outstrips goods supply, escalating prices. Such shortfalls can stem from raw materials scarcity, worker shortages or production bottlenecks.

Government strategies like high spending, printing money and lowinterest rates can also spur inflation.

The current inflation spike is chiefly tied to the COVID-19 pandemic recovery.

CAN I UTILIZE INFLATION TO MY ADVANTAGE?

Inflation usually gets a bad reputation as rising costs typically outstrip income growth. However, consistent, low inflation can signal a thriving economy and present investment opportunities. Long-term investments in assets such as real estate may offer good returns when their value escalates.

Remember, each investment carries risk, so it’s important to consult a financial adviser.

DEFLATION: A GOOD ALTERNATIVE?

While deflation might seem appealing, it often indicates a stagnant economy or recession, as seen in 2009 after the financial crisis.

HOW CAN I PREPARE FOR INFLATION?

Inflation becomes an even bigger concern for those approaching retirement, as static funds lose value over time. One approach to mitigate this impact is through insurance products like Fixed Index Annuities (FIAs). FIAs offer tax deferral benefits and the possibility of interest from an external index, sans direct stock market participation.

As plans vary, it’s crucial to seek a financial advisor’s counsel.

Prescott LIVING: And so how many events do you do a year, approximately?

Katie Moore: I would say anywhere from 175 to 200.

Prescott LIVING: Wow. That sounds like a lot to me.

Katie Moore: Some seasons are more than others but it does keep us on our toes.

Prescott LIVING: So how do you prioritize and manage to keep everything straight in your mind and on the books?

Katie Moore: It’s definitely a process when you’re a fulltime mom as well as running a business. Schedules are very important. Being able to work off my schedule and my husband’s definitely helps, being able to switch off with the kids and able to get into the office.

On his delivery days, I’m typically balancing the home life with the kids, and then midweek when it’s busier for me as far as planning and meeting with these clients and phone calls that’s when we switch off.

Managing our time really helps, and being able to have his help with the kids when I need to be in the office is a huge help.

Prescott LIVING: And are the kids usually with you in the office when you go in?

Katie Moore: It depends. I try to do a few days during the week for a few hours without them. Now that my youngest is getting a little bit older, I try to go in without, but there are times where they do need to be with us and go into the office and sometimes on events. My oldest thinks she works for the company with her imaginary phone taking orders for tables and chairs.

Prescott LIVING: Do you have little tricks to try and keep them entertained, or do they just become part of the show?

Katie Moore: Lots of snacks and activity books. Sometimes they just become a part of it, and my older daughter loves to pretend like she’s running the show, so yeah, there’s definitely times where they’re with us. It has its ups and downs, but we wouldn’t trade it for the world. Being able to have breakfast as a family and dinner as a family is what we moved here for and the reasons why we started a business. So being able to have that time as a family is huge.

Prescott LIVING: What’s the most satisfying part for you about putting together an event and watching the results?

Katie Moore: I think just the overall finish. Events don’t come together in two days. Sometimes it’s months and months of planning. I love to see the finished touches to everything and just seeing your client completely satisfied is very satisfying. And just a great feeling when the event’s over, they’re just so thankful and they’re just so happy that everything came together.

I think just being able to take care of our clients and bringing their dream event to reality is huge for us.

Prescott LIVING: Where do you want to take your business from here? What do you think the future is? What do you see it holding for you guys?

Katie Moore: We would definitely love to grow. I’d like to grow it a little bit bigger. I don’t want to get too big to where we lose that personal relationship with our clients. I think that’s huge to people. They love seeing that the owners are actually involved and it’s not just somebody that doesn’t care about the equipment. We are still doing everything that our employees do. We are involved in every single event that we do.

We want to definitely grow more. We would love to get our name out more just to the people we haven’t worked with yet, and would definitely love to gain more clients and relationships with other people.

Prescott LIVING: What advice do you have for other women who want to start or grow their own businesses?

Katie Moore: I am still learning and have plenty more to learn, as it was definitely a challenge but it is so rewarding. And worth every sleepless night. Stay focused and push through all the hard times. I think if you just put your mind to it and you have dedication, you can really do anything and make anything work.

You will hit hard times. Not even a year after we opened the pandemic happened and the first thing to stop were events, so it was very hard to not have any business. We both had to come up with other ways to make ends meet, not only having a household to take care of but also the business to keep afloat was not easy. But we both worked so hard to keep it going and we did just that and are so happy we held on through that tough time.

Prescott LIVING: And again, you probably learned that from your parents.

Katie Moore: I learned everything from my parents and could never thank them enough for the example they set for my brothers and I. Anytime I hit a tough patch I think of them and all they have done and it helps me to keep pushing. My entire extended family are entrepreneurs and growing up around that environment really helped to push me in my business endeavors.

Prescott LIVING: OK, so that’s great! Is there anything else you’d like to say right now about your business and the success you found in Prescott?

Katie Moore: Honestly, I just want to thank everyone that has trusted us with their event and giving us the opportunity to serve you. I love what I do and hope to meet so many more and work on more events. Thank you to our fellow vendors we get to work with and all of your referrals. This community means so much to us and we hope we can be everyone's go-to rental company to take care of your next event.

by Michelle Stacy-Schroeder, Recreation Services Administrative Supervisor, City of Prescott

One of the main goals of the Recreation Services Department is to maintain a leisure services system responsive to and directed by the diverse and changing needs of the community.

One of the ways we do that is by offering special programming for our special needs friends. The Special Needs Activity Program, or S.N.A.P. as we like to call it, was created in the early 2000s to offer social, creative and educational activities for Prescott area adults with developmental and/ or cognitive disabilities.

S.N.A.P. participants range in age from 18 to 70-plus years and vary in their level of functionality. The program is designed to help them develop and address their desire to be an active participant in their communities, while also helping them to improve their socialization with others and create an avenue for creative expression.

The program holds a craft night the fourth Monday of each month from 6 to 7 p.m.; bingo night, typically the first Wednesday of the month from 6 to 7:15 p.m.; and the ever so popular themed dance nights, which are held generally on the third Saturday of the month from 5 to 7 p.m.

All events are held at the Grace Sparkes Memorial Activity Center at 824 E. Gurley St. in Prescott.

Prior to and during COVID, the program saw a slight decline in participation. In the height of the pandemic, the program was canceled. Now in 2023, the program is stronger than ever.

S.N.A.P. is made possible by the servant hearts of volunteers, donations from community partners and businesses and the energetic and organized coordination of Recreation Coordinator Karlyne Crewse.

Because S.N.A.P is a nonprofit organization, it relies heavily on community support through donations and volunteerism. If you are interested in donating items such as food, bingo and door prizes or being a volunteer to help with event setup, please contact Karlyne Crewse at 928.777.1554 or via email at Karlyne.crewse@prescott-az.gov.

Monthly calendars for S.N.A.P. events can be found at www. prescott-az.gov/recreation-events/ programs-special-events/programs/ special-needs.

Dr. Jeanette Pilotte (928) 583-7887

Dr. Cydney Siggins (928) 776-8428

PAIN MANAGEMENT SPECIALISTS

Dr. Bradley Benson (928) 445-4818

Dr. Craig Leicht (928) 445-2700

PLASTIC SURGERY

Dr. Burt Faibosoff (928) 777-5817

ORTHOPAEDIC SPECIALISTS

Dr. Richard Bassett (928) 777-9950

Dr. Kyle Chun (928) 777-9950

Dr. Bertrand Kaper (928) 778-9250

Dr. Greg Keller (928) 708-4545

Dr. Paul C. Pflueger (928) 777-9950

Dr. Judah Pifer (928) 778-9250

Dr. W. Lee Richardson (928) 777-9950

Dr. Bradley Williams (928) 778-9250

PODIATRY

Dr. Brad Hayman (928) 776-9428

Dr. Evan Simonson (928) 777-9950

UROLOGISTS

Dr. Paul Nguyen (928) 771-5282