As the inflation rate soared this year to 6.8%, how is that affecting your holiday spending, if at all? In this week's Deep Dive, we asked an expert financial planner who goes by the name Mrs. Dow Jones.

As the shopping days tick down before Christmas, prices on just about everything continue to rise. Shoppers at an outlet mall in Monmouth County had mixed reactions to how they’re spending as inflation hit levels not seen in nearly 40 years. 

"We are still doing what we normally do,” says Theresa Lamarre.

"It definitely has impacted my spending,” says Patrice Martin, of Wall Township. “Taxes have gone up, prices have gone up, so it’s not the same anymore at least this year. I haven’t been buying a lot of clothes and gifts for friends."

Shop owner Luke Mesanko says he’s actually seen an uptick in business over last year. 

"I do feel after the holidays we might see some maybe some trending downwards but as of right now people are in great spirits they’re spending money and we have what they need,” says Mesanko, owner of Wanderlust Land and Sea.

Many people continue to choose the gift card option this year. Financial expert Mrs. Dow Jones explains why in some cases, it’s a win. 

“With gift cards sometimes you’ll get a bonus card if you spend a certain amount and traditionally gift cards never expire right, but sometimes those bonus cards do that’s where they’ll get you,” says Jones.

According to Jones, the best way to beat inflation this year is to move away from physical gifts. 

"I would say to buy assets not liabilities,” says Jones. “You’re going to be losing money regardless if you’re giving someone junk. If you are able to give someone an investment, something that is able to grow with them, then you’re hedging against inflation."