The rest of the Globe economies are slowing down. That affect our economy because we
sell products overseas and large number of tourist travel to the US every year for vacations.
The Federal Reserve Chairman has recently stated just that. Instead of raising interest rates
last year the Federal had decided to put interest rate hikes on hold.
Where does this leave the average hourly working individual that usually have 5 to six months
emergency funds, three or 4 weeks in a checking account? Cutting spending, paying down debt/paying
off debt will slow the US economy down to. At least that is what most people believe but nothing
could be further from the truth. The less debt consumers have the better off they are and the
country. The higher the saving rate the more prosper a country is.
Inflation currently at 7%. Will it be 8%, 9%, 10% or even more is a possibility. In order to
deal with this it will take budgeting for higher inflation.
Families and individuals on fixed income will have three choices. Number one is learning how
inflation affect then, number two is going without because their income simply purchase
less and earning more income. Generally most individuals simply cut back. Lacking the
understanding of inflation which most book on the subject would provide anyone the knowledge
to avoid the pitfalls associated with higher and higher inflation, they simply live on less.
The books above I recommend. An understanding of rising inflation is key to prospering
in 2022 and 2023.
In summary, the more everyone have and the less debt everyone have. The happier every one is.
WHAT IS YOUR OPINION ON THIS SUBJECT????