Inflation Is Going To Wipe You Out? | Prepare Now

Inflation is not a joke, if you think its funny imagine having all your saving become worthless in less than a month. I remember being high school and reading how in Zimbabwe it’s 35trillion Zimbabwean dollars to reach the value of $1 US. That means you needed about 3 billion dollars to buy a loaf of bread. That means that if you were trying to save money, by the end of the money your money was worthless. That means that if you had a job and they weren’t paying you more, and prices went up that high you couldn’t buy anything.

So in this video, I’m going to break down what’s going on with inflation, what I think is going to happen, what you can do to prepare personally. SO make sure to watch this entire video, because if you’re not ready then “ it is what it is”

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1. Current inflation: inflation sits at around 6.3% but CPI (consumer price index) shows an increase of nearly 10%

Examples:

-Gas is up to $5 per gallon ( I’ve never been this motivated to walk)

-Airlines tickets up 12.5% ( I forgot what a vacation feels like )

-Food up about 10% ( I don’t remember last I eat these many noodles )

-I cant even buy a used iPhone for cheap anymore

Benefits:

-Debt becomes cheaper

-Controlled inflation increases economic gross ( that prevented a potential recession during the pandemic )

-Inflation is better than deflation at least which can cause recession and depressions

The Dangers Of Inflation:

-Imagine prices going up like crazy and your wages staying the same ( its like the house market, the average home cost 374,900 vs minimum wage 7.25 vs 69k average wage ( which has gone up but not at the same rate as prices )

-As inflation raises and fed have to hike up rates don’t be surprise if layoff start to happen as the economy start to slow down

2. What I think is going to happen

People call me a negative Nancy sometimes but I don’t think so

-I study the past to know how to prepare for the future and this way I can have positive outlook on my personal finances

-But pretending like bad stuff doesn’t happen to bad and good people is ridiculous

-I was looking up the highest rates of inflation of all time and that was in 1920 where inflation hit about 23% you know how crazy that is, and you how crazy that we just hit a 40 years high inflation just now

The Fed is going to hike up rates:

-But its like farming just because you are using better dirt, seeds and tactics

-Do not mean you’re going to grow a tree now instead of 12 months in 3 weeks

-This going to take time to take effect

I could see the market going down further

-But I believe it’s going to balance it

-I think we pump the market with a lot of artificial money to prevent a crash

-And now we are due for a correction

3. Things they can do to prepare

-Get your budget in order and stop spending ( which crazy because you lose money by saving but that’s the right thing to do currently )

-Stop getting into more debt

-If you have extra cash, during times of uncertainty and panic a lot of opportunities tend to arise, I can buy my same investments for a 25-30% discount right now that’s awesome

-Change jobs to get current salary or negotiate with your current job
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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