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Rampant inflation continues to weigh on Americans’ wallets, forcing consumers to prioritize spending, make personal budget cuts and weigh their options to make ends meet.
Business owners Keith Troyer, Ben Noffke and Brandon Brown joined “Fox & Friends First” early Tuesday to share the struggles they – and their livelihoods – face as consumers rethink their spending habits due to soaring gasoline prices.
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“If you had asked me six months ago, I would have said ‘absolutely not’ [having any problems with clients]“Troyer told guest host Ashley Strohmier.
Troyer, who owns a cleaning and housekeeping service in Columbus, Ohio, said customers were canceling reservations, their explanations now shifting to job losses and cost cutting, a phenomenon he never had. not seen for years.
Noffke, president of a Wisconsin-based roofing company, says supply chain issues and high fuel costs are helping to “significantly increase” roofing costs, and consumers can’t afford to pay the bill.
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“The cost of the roof has probably gone up 50%, and we’re in a trend right now where homeowners are saying, ‘I can’t afford the roof. I’m more looking to fix it right now,” he said.
Brown, the third member of the business owners panel, owns a Virginia-based air conditioning company, and inflationary pressures are causing consumers to put their money elsewhere.
“People are starting to decide whether to fix their air conditioning, buy gas or shop for groceries,” he said, adding that he’s seen an increase in customers financing air conditioning services.
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“We’ve partnered with a finance company that will help them fix their systems but finance them as an option, but it gets really scary when it’s 95 or 96 degrees here…and they can’t cool their house,” a- he added.