Crash Course: Inflation
Inflation - it's probably all you've been hearing about these days. We break it all down, and explain how you can stay afloat (and even benefit!) in these difficult times.
In this course, we'll cover:
1️⃣ The concept and cause of inflation
2️⃣ The effect on your savings
3️⃣ How to invest during inflation
4️⃣ How to budget during inflation
Video 1 - What is inflation?
Inflation is the rate of increase in prices over a given period of time, causing a dollar today to be worth less than it was yesterday. While the average inflation rate is around 2%, last year it skyrocketed to 8.6%. If your salary stayed the same, you effectively received an 8.6% pay cut.
Video 2 - What causes inflation?
During the pandemic, the government injected a whopping $6 trillion into the economy. This surge in spending boosted demand for goods and services, but it also led to a decrease in the value of money, driving up prices and causing inflation to soar.
Video 3 - How does inflation affect you?
Inflation reduces the purchasing power of your money, meaning you’re losing value for every dollar in the bank. It can make managing your savings feel like an uphill battle, but there are ways to stay ahead. Learn how to protect your money by investing wisely, maintaining an emergency fund, and reassessing your spending habits to navigate rising costs with confidence.