Inflation was recently ranked as a number-one worry to consumers in a CNN poll. I can definitely understand why, CNN showcased several price increases over the past year, from 13% for milk to 33% for gas! It's clear that the prices for items we use everyday are going up up up.

These changes to the economy should spur you to change your saving strategy if you want to ride ride out the ever inflating prices at the pump and the supermarket. Right now you would almost be better of buying milk than putting money into your savings account, 13% growth is pretty good. Pity milk doesn't keep like gold though.

CNN offers three rules to use for anyone trying to save during a time of inflation.

Federal Reserve Chairman Ben Bernanke has suggested he's entertaining the thought of more interest rate cuts. He says that cuts are possible this year to help the housing downturn and problems in the credit market.

What does that mean for you? Well "interest rate cuts" don't directly affect consumers. When the Federal Reserve talks about a cut, they're talking about the rate at which banks lend money to one another overnight. All day long the banks are cashing checks and taking in deposits, and at the end of the day they have to settle up between themselves. At night, some banks are short on cash and some have extra. The Federal Reserve determines the rate at which they will loan money to each other overnight. That's what rate we're talking about.

But even though the "interest rate cut" doesn't affect consumers directly, it affects them indirectly.... and you can benefit! You will typically see consumer lending rates go down when "the rate" goes down. Most likely, those of you with a home equity line with a variable interest rate will see a drop in your rate. Those who are looking to refinance debt may likely see lower rates from banks and mortgage brokers. So if you're a borrower, you should be happy to see that your rates could go down a bit this year.

Now if you're a saver, a drop in the interest rate actually hurts you, because the rates on your savings account and money market will probably go down. Sorry. There are always winners and losers in the consumer finance game. Don't let it stop you from saving though. You may need those funds for a rainy day.

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.

You may be wondering exactly what the Fed hopes to achieve with its rules change. The Fed spelled out its goals yesterday:

• "Prohibit lenders from paying mortgage brokers "yield spread premiums" that exceed the amount the consumer had agreed in advance the broker would receive. A yield spread premium is the fee paid by a lender to a broker for higher-rate loans." My take: Prior to this new rule many brokers did not disclose how much money they were making by steering consumers to subprime loans. Consumers who could have qualified for prime loans were encouraged to take subprime mortgages so brokers could make more money.