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Inflation is frequently happening in isolated parts of the economy at any given time, but what we are seeing right now is widespread inflation across many different sectors. This has implications for your job, your income, and the affordability of the things you need to purchase. So, in this episode, I will be unpacking some of these implications and sharing how to think about this situation moving forward.
Listen in as I explain what you should be concerned about in terms of investments whilst inflation is happening, as well as the importance of getting out of student debt as quickly as you can. You will learn what you should be doing to adjust your finances for inflation, what a shorter duration bond is, and how to protect yourself from inflation.
What You’ll Learn In Today’s Episode:
- What hyperinflation is.
- Why we might be seeing inflation right now.
- What a floating rate product is.
- The benefit of paying off your debt as soon as possible.
- Adjustments you should make to your finances while inflation is happening.
- What a shorter duration bond is.
- How to grow your way through inflation.
Ideas Worth Sharing:
“Hyperinflation is when inflation happens so fast that common goods become unaffordable.” – Justin Harvey
“What we don’t want is for you to be in a floating rate product that resets every year.” – Justin Harvey
“Inflation is challenging for people in debt if your rate is adjustable.” – Justin Harvey
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