After several years of inflationary headwinds and interest rate hikes, there’s a growing sense that people are learning to adjust, but not without challenges. Fortunately, places like the Tri-Cities – where job growth is strong and housing is relatively stable – are poised to benefit. 

Overall, inflation has cooled slightly, but it’s clear that consecutive years of high inflation have left their mark and some prices remain stubbornly elevated. For consumers, this has resulted in higher credit balances and, at times, difficulty meeting debt commitments. For businesses, higher interest rates have forced them to be extra vigilant in determining how much debt they can carry. Yet in both instances, we’re seeing people forge ahead, navigating the current financial landscape with intention and cautious confidence.

Being more deliberate

We’re also seeing that both consumers and businesses have become more deliberate in how they use credit and manage debt. For individuals, borrowing has often become a way to bridge gaps in everyday expenses. Higher prices on essentials like groceries, fuel and housing have made it more difficult to stretch a paycheck. 

Yet even as more people turn to credit cards or personal loans, we’re generally seeing that it’s not out of carelessness or perception of wealth. Rather, in most cases, it reflects a willingness to do what it takes to stay on top of obligations, even when budgets are tight.

Businesses, on the other hand, are still investing, but they’re doing it with greater precision. In sectors like agriculture and manufacturing, where growth remains cautious but strong, leaders are weighing risks more carefully. Strategic borrowing continues, but companies are watching the economic environment closely. They’re asking smart questions, prioritizing flexibility and waiting for the right moment to scale.

Financial confidence

From a financial habit standpoint, one of the most encouraging shifts we’re seeing is how people are redefining what it means to be financially confident. 

Consumers, especially younger generations, are becoming more proactive. They’re leaning into technology, like budgeting apps and AI tools, to build their own sense of financial literacy and control. These tools are helping people feel less overwhelmed and more empowered to take small steps toward long-term goals.

For businesses, confidence is showing up in how they manage through uncertainty. Rather than pulling back entirely, many are investing in their core operations, building reserves and strengthening relationships. They understand that today’s headlines may change, but a well-run business with a clear strategy is prepared to weather those shifts.

That kind of steadiness on both sides bodes well for regional resilience.

What to do if planning ahead isn’t enough to shake the unease of instability?  

Despite regional growth and cautious optimism, continued instability across the globe can be hard to shake and has left many people looking for reassurance. Whether you’re leading a business or a household, the fundamentals of financial planning haven’t changed. 

Here are three key things to remember as you plan for the future: 

• Know your numbers. Budgeting, planning and understanding what you can realistically afford are still at the core of financial health. Collaborating with accountants and financial advisors are wonderful ways to get ahead but should never replace your understanding and knowledge of your numbers. Keep a close eye on your debt ratios, cash flow and refinancing options to allow for flexibility. Talk with your banker and work with them to create a plan.  

• Manage your debt. Across our markets, we find that people want to fulfill their debts. When someone takes out a loan, their intention is to repay it. When they fall behind, it’s not because they were trying to avoid the payment. Typically, it’s the result of an unexpected expense – be it a medical bill, a broken-down car or the loss of a major account. Combine those surprise hardships with limited understanding of how to manage debt, and people can get in trouble. If you have experienced an unexpected event or are concerned about meeting your debt, talk with your financial provider before missing a payment. Many financial institutions will work with you to make a plan and ensure you’re on a path to repayment.  

• Don’t jump at every headline. None of us know what tomorrow’s headline will be or the news of the day the day after that. Be careful not to overreact. Focus on your finances and keep your eyes on the horizon. Credit unions, known for being hyper-local and attuned to what drives the regional economy, can be a great resource. If a troubling headline has you second-guessing your next move, reach out to your credit union representative. They may be able to offer a financial perspective that brings some much-needed reassurance.

The Tri-Cities is a clear example of what a steady, intentional growth market can look like. By setting up sound financial practices and making a plan for where you’d like to get to, business leaders and consumers alike will be better positioned to stay on track and meet their goals.

Brian Berrett is the chief financial officer of Idaho Central Credit Union, which has plans to open three Tri-Cities branches. The Kennewick branch is under construction at 3720 S. Zintel Way.