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Money Guy Show

Is Inflation Really Ruining Your Finances? (You Won’t Like the Answer)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 18 August 2023

⏱️ 41 minutes

🧾️ Download transcript

Summary

Inflation has changed our daily living expenses dramatically over the last few years. While we can’t control all of our expenses, there are many things in your control that can help you become a Financial Mutant and build wealth better than your peers. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

inflation inflation inflation we hear so much about inflation is it ruining your financial life

0:12.5

brunt i am excited about this because we've had a lot of conversations recently with folks whether

0:17.6

there be team members or clients or fans of the show that are like oh man this inflation

0:22.4

it's getting me it's getting me it's getting me it's getting me but we said okay yeah

0:26.5

we know that someone's going on with inflation but is that really the problem or is there

0:33.3

something else afoot going on yeah i'm worried people aren't going to like our answer because

0:37.8

we're gonna look this is one i love that we need to share some good news about inflation yep

0:42.6

we get to talk about look inflation's real we're gonna show you we're gonna separate out what are

0:49.2

the actual numbers of what's happening with inflation but then we're gonna go a step further

0:53.6

and actually tell you what can you control because you do need to be disciplined you need to make

0:59.3

sure that you're making good financial decisions because look we know that over the last two years

1:03.9

inflation has been a significant deal if you look at inflation from January of 2020 all the way

1:10.4

through the middle of 2023 it's been a wild ride reaching almost as high as a nine percent

1:17.1

increase in the price of goods year over year however it has settled down some as we've moved into

1:22.8

2023 that right now current inflation levels are measuring it about a three percent change in what

1:29.5

they were last year so they have uh-subsided a touch but it's been a wild ride it's been something I

1:35.3

think has been have been felt by most consumers in this country well not even just consumers also

1:40.6

investors i mean talk about how much time we spend i feel like it's like you know when you go

1:45.8

to the grocery store and you see all the tabloids with everything now it's been in the if you're in

1:50.3

the financial world you spend all your time hyper focusing on what is the federal reserve going

1:55.2

to do so inflation as you said has dominated the last two years but we think it goes beyond that

2:01.2

yes the numbers have been bad but we think it goes much more beyond that we know so much a personal

...

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