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This is the stuff you millionaires in the making need to know to kick start or propel you on your financial fitness journey. Tracey Bissett, Founder of Bissett Financial Fitness and award winning Financial Literacy Champion, gives you the straight goods each week to set yourself up for financial success. As a former executive at TD Bank, one of Canada's Big 5 Banks, Tracey has worked with and in support of thousands of individuals and entrepreneurs to secure the financing they needed.  This hands on experience combined with her formal financial education, Masters of Business Administration and Chartered Financial Analyst designation, position Tracey uniquely to coach all things money. Tracey goes behind-the-scenes of all the money matters with need-to-know tips, money-making demystified, and special power-player interviews. Join us weekly for Financial Fitness Training that will turn even a Cash Couch Potato into a Marathon Money Maker.

Aug 2, 2022

Over the last few months, you’ve probably heard the word “inflation” numerous times. Inflation refers to a general progressive increase in the prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. So, how does this impact you and your goals? In this episode, I will break down this topic in depth so that you feel confident in your understanding of inflation.

Listen in as I explain the pros and cons of inflation, as well as the cause behind the inflation we are currently experiencing. You will learn what you can do to protect yourself, the importance of knowing what your financial situation is, and how to set realistic financial goals throughout this time period.

“We need to know realistically what our goals are, and we need to know how much money is coming in and how much is going out.” - Tracey Bissett

This Week on Young Money:

  • The pros and cons of inflation.
  • What inflation actually is.
  • What causes inflation.
  • How we can control inflation (if we can).
  • The importance of having a savings account for unexpected bills.
  • How to potentially reduce your bills and weekly spending.

Key takeaways:

  • Review your values.
  • Set goals.
  • Understand your current financial situation.
  • Build an emergency fund.
  • Pay down debt.
  • Keep an eye on your bills.
  • Go through your benefits.

Resources Mentioned:

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