Jun 30, 2022

Many of us want to keep our money in our pockets. We can use financial intelligence to direct that money in the ways we want to. But, what are some ways we are losing money? On today’s episode, we’re going to break down our philosophy on keeping money in our pockets and how it's about much more than just inflation. 

Whenever we have federal government deficit spending, we are going to have inflation. Our incomes and the cost of living have become unbalanced. Some of this is seen in the increased costs of an item, increased taxes, and more. The government collects from various sources. So, we must ask ourselves, where is our money going? 

 
The money we don’t keep and direct, determines where we can put money towards our lives. There is a sales tax, income tax, state income tax, and on top of that various fees on our utility bills and more. As you can tell, there is attrition coming out of the money we earn. There’s always another hand in our pocket. 
 

When we talk about inflation, it’s often about the cost of goods. Everyone is feeling inflation when it comes to gas, but we also need to be aware of inflation through taxes. We also don’t talk enough about the deficit spending that reduces the buying power of Americans. So that's what we will explore on this episode. 
 

Join us today as we take a look at government spending and how it impacts our personal finances through taxes, inflation, and much more. 

Check out the full episode or use the timestamps below to hear a specific segment.

1:41 – 4^th of July is around the corner

3:42 – Let’s talk about inflation

6:37 – Where is our money going?

8:50 – Inflation impacts taxes too

10:38 – Does high inflation stick around?

12:02 – Should we expect hyper-inflation?

13:12 – How is this impacting Social Security?

15:27 – Inspecting the budget as a fiscal conservative

17:29 – Some of the good things in this budget

For more, visit us online at http://flemingfinancialservices.com