Should I Keep Extra Savings Because Of Inflation?
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An ex-colleague convinced me into stock trading and investments as profitable alternative sources of income. Unfortunately, I have been down ever since. Next time, I will spend my money on myself first before considering whether I will invest or not.
Is he going to keep talking about supply chain shutdowns when nothing has been shut down and we've been back to 96%+ employment for almost a year?
Food cost will continue to increase. It takes several months to over a year to grow crop and raise livestock. Major interruptions in food supply literally means starting over and waiting for the next growing season. Many experts are expecting starvation events in several poor developing countries. Interestingly Russia and Ukraine are major producers of wheat and fertilizers, and their conflict will have a negative reverberating effect around the globe. Food security will be an important topic to keep an eye on.
TY for the explanation!
Interest rates cause inflation, not supply and demand.
I don't know who needs to hear this saving for a better investment is a great step for financial freedom you're saving a day off work.
I thought housing wasnt figured in the cpi anymore
Ramsey is best financial advise on the internet (IMO).
Actually in 1991 used cars were high. I bought new for $13K because same model a few years old with 100K miles was priced at $10K.
Pretty sure Rachel doesn’t have to worry about inflation considering she’s in line to inherit about $100 million
Inflation makes long term fixed debt cheaper don't be in a hurry to pay off your fixed rate debt.
Stop prepaying the cheapest mortgages in history while inflation is out of control. I guarantee they have a 3% fixed mortgage.
If they have the ability to save an extra $10k then inflation isn't affecting them enough to warrant leaving the money in an emergency fund. Their income is stable, this family isn't struggling. All they need to do is adjust the budget to reflect the cost increases.
At some point, y’all have got to follow your own basic common sense! I like DR’s advice but he is NOT the end all be all. Make the necessary adjustments! He’s not going to be there to personally bail you out! THINK!!
So the CPI going up is mostly because of housing, not because the price of goods and services overall is going up. It's mostly housing that's driving the high inflation numbers according to Dave Ramsey. That is interesting I hadn't heard that before.
What about all the people who are on a fixed income. Prices go up but not income for struggling retirees
Soon everyone will be a millionaire!
To those many claiming to save more and that dave is wrong- EF and monthly expenses do not change unless the monthly income changes. If income is the same and needs increase, then readjust the monthly spending, as Dave said. If you want to adjust the EF and monthly spending, then you need to first change the income.
Is 30k good for a emergency fund????
Option c.. buy the sp500
Car dealers are NOT loading up their lots with new cars.. read the news davy
The rich stay rich by spending like the poor and investing without hesitating then the poor stay poor by spending like the rich yet not investing like the rich
I increased my emergency savings by 1000, and I'm easily fine
You can tell Dave Ramsey doesn’t know all the intricate details of finance. He has a broad knowledge. For detailed analyses, I like the you tube channel: Marko – whiteboard finance.
My $1000 emergency fund has become a $2000 emergency fund
JUST MAKE MORE MONEY.
Wow is there anything that Dave don’t know he never ask anyones opinion even Rachel
Let's go Brandon, let's go!
Didn't Dave say housing wasn't going to come down? Now he says it will, which will decrease inflation?? HUHH
Dave Ramsey does not put 'The Great Reset' into consideration. It is open and out there. Go research it.
It was 500 for 1000 board feet, not a board foot.
Cash as a hedge against inflation?
No matter what Dave wants you kicking 10% to the church and buying real estate!!!!
Dave is ignoring Biden's war on domestic energy production and the fact his entire cabinet are grossly incompetent.
Because we did things the smart Dave way when it comes to housing and the anti-Dave way when it comes to grocery costs (eat for good health not for rice, pasta meals etc) our mortgage costs are actually less than our grocery budget!
Cost of gas has nothing to do with "going green," it's the oil companies gouging us.
Inflation is closer to 20%. There’s no way it’s 9.1% like the CPI says. The numbers don’t back it up.
I love Rachel so much. She is great for this show!
Inflation being at 10% and no sign of slowing, but only increasing, you will basically loose 50% of your savings I'm 5yrs or less if you keep it there.
With interest rates up for the time being, I am torn between saving and buying stuff that I'd like but do not need absolutely!
So what about all the extra money that's been printed? Doesn't that affect inflation? Surely you can't keep printing and printing and expect the value of the money to not go down.