Ep 211: What tariffs teach us about Financial Literacy
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Apr 28, 2025
The podcast tackles the impact of rising tariffs on personal finances, emphasizing how they distort prices and affect consumer behavior. It delves into the complexities of outsourcing and the challenges of reviving U.S. manufacturing. The speakers discuss shrinkflation, where product sizes decline instead of prices rising, highlighting the need for price literacy. They argue that understanding the global economic landscape empowers consumers, allowing for smarter investments and spending decisions in a rapidly changing market.
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insights INSIGHT
Tariffs Impact Personal Finances
Tariffs are taxes on imports that directly affect your wallet and budget.
Understanding tariffs is crucial for true financial literacy in today's economy.
insights INSIGHT
Extreme Tariffs Affect Supply Chains
Tariffs at extreme rates like 145% signal serious economic conflict.
They increase prices, slow supply chains, and cause product substitutions, affecting consumers broadly.
insights INSIGHT
Offshoring Shaped Today's Economy
U.S. manufacturing declined due to deliberate business decisions for cheaper production overseas.
This lowered product costs for consumers but created new economic and political challenges today.
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In "Cashing Out: Win the Wealth Game by Walking Away," Kiersten Saunders and Julien Saunders discuss the importance of understanding your risk tolerance and knowing when to take profits in the ever-changing financial landscape. The book emphasizes the cyclical nature of wealth creation and the need for a strategic approach to investing, rather than relying on luck or short-term gains. It encourages readers to develop a personal definition of "enough" and to prioritize financial well-being over endless accumulation. The authors provide practical advice and strategies for navigating the complexities of the modern financial world, empowering readers to make informed decisions and achieve their financial goals. The book's core message is about building a sustainable financial future by understanding your own needs and risk tolerance, and not getting caught up in the hype of short-term gains.
The World is Flat
Thomas Friedman
It's the last Monday of Financial Literacy Month 2025, and unless you’ve been living under a rock or blissfully disconnected, you’ve probably heard the noise about tariffs lately. U.S. tariffs on Chinese imports are climbing as high as 145%, with threats to go even higher. And while it’s tempting to think that’s a political issue, the truth is tariffs effect your wallet and budget.
In this episode, we’re breaking down what tariffs actually are, how they distort prices, and why understanding how prices are shaped has never been more important. Because if you don't understand how prices are set, you don’t really understand how money moves, and in a world where price tags lie, shrink, surge, and shapeshift every few months, that's not just an economic problem. That's a literacy problem.
We cover:
Why it’s so hard to just "make everything in America", even if you want to
How companies quietly pass tariff costs onto you and how to spot it
Real-world tools to build price literacy and become a sharper consumer and investor
What it means to see yourself as part of the global exchange, and why that gives you more financial power, not less.
Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube. Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life.
rich & REGULAR with Kiersten and Julien Saunders 