What Is Inflation and How Does It Affect You?

OUR HOSTS: 

Corinne Foxx - @corinnefoxx

Natalie McMillan - @nataliemcm and @shopnataliemcmillan 

What we're drinking: Kaiken Indómito Malbec 

TOPIC: 

It seems like every other news headline is about inflation, supply chain, and interest rates, but what do those things actually mean? We break it all down in today’s episode and explain how you can empower yourself financially during these uncertain times. Inflation is actually a very normal part of a healthy economy. We dive into what the Federal Reserve (aka the Fed) is, systems that are in place to prevent hyperinflation, and Warren Buffet’s top tips for earning money in a down economy. 

In this episode, we discuss:

• Real world examples that demonstrate how we arrived to today’s economic situation 
• The core responsibilities of the Fed 
• How lower interest rates help stimulate the economy
• Why you shouldn’t panic and hide all your money under your mattress (despite what your grandma told you) 
• How to beat inflation by investing in good businesses with low capital needs

RESOURCES MENTIONED: 

Episode 7. Saving vs. Investing: Which One is Right for You?

Episode 22. Investing 101: A Beginner's Guide to Earning $tacks on $tacks   

END OF THE SHOW: 

Corinne and Natalie introduce Hottie of the Week: Austin Butler

WINE RATING:

Kaiken Indómito Malbec  = 7.5 / Austin 

WRAP UP:

To wrap up the episode, Corinne and Natalie play Overrated/Underrated. Corinne shares her hot take on Mexican food staples, and Nat has some strong opinions on who should be considered today’s biggest and best rapper. 

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