With the US government pumping trillions of stimulus dollars into the economy and inflation rates ticking upward, some investors worry about inflation’s impact on their overall financial picture.
Let’s take a minute to understand what inflation is, how it may impact your finances, and what, if anything, you should do about it.
With the $1.9 trillion coronavirus relief package now signed into law, most American households are again poised to receive stimulus checks from the US government. This means, among many other elements, $1,400 checks for each household member!
But what’s the best way for you to use those funds? Before running off to spend the money, consider how these funds could help “stimulate” your own financial picture by helping you stay or get back on track toward your financial goals.
Recently, President Trump signed into law the latest stimulus bill called the Consolidated Appropriations Act of 2021. This law is a follow up to the CARES Act earlier last year.
Why was the bill necessary? Because plenty of families and small businesses are still hurting, with unemployment high and plenty of businesses considering closing their doors for good.