286- Cashflow Killers in 2022
I recently recorded a YouTube podcast and video with Caleb Guilliams of BetterWealth about how household cashflows will be significantly under pressure in 2022 because of:
Likely higher interest rates – 3 to 4 Federal Reserve hikes.
Inflation of 5% to 7% and its impact on our cash budgets.
The expanded, fully refundable Federal child tax credit reverts to its old form. No longer will families receive the monthly checks directly from the government.
Insurance premium increases will be coming. (Health, vehicle, property)
Student loan payments begin again effective May 1.
Pandemic related stimulus checks are gone.
These issues are impacting the majority of American families. Caleb and I discuss each of these factors and how you can take action to mitigate their impact on your household.
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