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146 Inflation's Impact On Your Finances - Paul Lawrence Vann
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When exerting oneself in the weight room at the gym there is a term used called feel the burn. Citizens in the U.S. are feeling the burn however it's in the wallet and pocketbook.
We are all paying more for less which is a direct result of inflation. There is an increase in the prices of goods and services and power of money decisions.
Have you been to the gas station lately? How about the grocery store? The likelihood is you have done both and it hurts your finances. Inflation reduces your financial wealth and lowers your living standards.
This list assists you in understanding how inflation impacts your finances:
- Erodes your purchasing power.
- Encourages spending and investing.
- Causes more inflation.
- Raises the cost of borrowing.
- Lowers the cost of borrowing.
- Reduces unemployment.
- Increases growth.
- Reduces employment
- Weakens or strengthens money.
One of the best ways to offset inflation is to put a financial plan in place and tweak it when needed. Inflation is a reality, this episode will help you take action to offset inflation. Discover more about the impact inflation has on your finances, you can contact Paul at (800) 341-6719 or email info@paulvannspeaks.com
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