Disclosure: Some of the links below are affiliate links. Meaning at no additional cost to you, I will earn a commission if you click through and make a purchase. Don’t worry though. I only recommend products that I believe will help you on your journey.
Check Out Related Episodes & Resources
- Please Stop Doing Money Dates
- Why You’re Not Budgeting Even When You Know You Should
- 4 Simple Things You HAVE To Know To Run Your Books Correctly
- Why You Need To STOP Saving For A Rainy Day
- FREE Cash Flow Calculator
Ep. 191 Back To Basics – Navigating Inflation: Why Making More Isn’t Enough
In this episode of Your Money Your Life, we’re diving into a back-to-basics series focused on foundational financial strategies. I share insights about dealing with inflation and the pitfalls of relying solely on making more money to outpace economic changes. Through a personal story like Texas’s Snowmageddon, I explain the importance of a balanced financial approach, combining earning, budgeting, and understanding economic principles.
Learn about the Unstoppable Finances Framework, which integrates offense, defense, and mindset to create a robust financial strategy.
LISTEN OR SUBSCRIBE FOR FREE IN YOUR FAVORITE PODCAST APP:
Apple Podcasts | Spotify | Google Podcasts | RSS
Resources:
- Work With Aimee – https://workwithaimee.com
- Instagram – https://instagram.com/aimeecerka
Grab The Cash Flow Calculator
Uncover the right work (that you’re probably already doing) in order to finally see consistent cash flow month after month
Let’s find out in just 90 seconds!
Get started today ????
Fill out your information below to get instant access
Understanding Money and Inflation
If you’re like 100% of the people I polled, you’re frustrated with inflation. You’re thinking to yourself, if I just had more money, then we’d be okay. I get it. Specifically, I remember In February of 2021, I’m in Texas, and we had something that was called Snowmageddon, right? What happened with Snowmageddon in Texas, we don’t really get a lot of snow.
Snowmageddon and Its Impact
When we get things, it’s normally ice. Because it’s ice, we don’t really. We don’t have the tools to handle it because it’s not something that normally happens. With Snowmageddon, we essentially had Arctic Circle weather here in Texas. There was a run on food at the stores, there were electricity outages, and there was water.
Facing Fear During Tough Times
Even though we as a family, like we were okay, we were taken care of. There was still fear. External circumstances can trigger that fear that we feel like we’re not doing enough, that we’re not making enough, or that we’ll have what we need. But you won’t be able to beat inflation by just making more money. Making money will help, but it isn’t a solid solution.
Why More Money Isn’t the Answer
The US Dollar is a fiat currency, okay? What a fiat currency means is it’s not backed by anything. There’s nothing that is determining its value other than essentially the Federal Reserve is telling you that it has value. They can print as much money as they want. This is why leaving your money in a bank account or investing heavily in the stock market isn’t the solution.
Why You Can’t Out Earn Inflation
They literally printed half of the money that’s in circulation right now in less 18 months, it would be incredibly difficult to make enough money to outpace the rate that it’s printed. I would say it’s impossible, but I’m trying to give it the benefit of the doubt, but it’s basically impossible. So you can’t out earn inflation because of everything that’s going on in the economy. The way that the situation works is essentially stacked against you. Right, but that doesn’t solve the fear.
The Unstoppable Finances Framework
Yes, making money will help in that. Earning money is the offensive part of the unstoppable finances framework. There’s a couple of things that you need to be doing. One would be budgeting, managing your money. That’s going to help.
The Importance of Budgeting
That’s the defensive part of the unstoppable finances framework. The third part, the other thing that you need to be doing is strengthening your mindset and how you approach things. That’s going to help. That’s the third part of the unstoppable finances framework that we talk about. We call that the battlefield, the economics, the rules of the game.
Understanding the Economy
Knowing these things, understanding the economy, that’s the battlefield. Knowing these things, it’s all important. But if you put together the offense, the defense, and the battlefield, and there’s a fourth part of the unstoppable finances framework. It’s unstoppable. When you put it all together, it’s unstoppable.
What You Can Do
Now you’re probably thinking like, okay, what the heck can I actually do? My plate is already full. I’m doing a ton. I don’t like, have time to take on one more thing to try learn about economics. What the heck do I need to do that?
Work With Aimee
You’re struggling with shame and guilt around your finances. Whether it’s debt, impulse spending, mistakes from the past, or the fact that you still haven’t hit your income goal. Then it’s time for you to work with me. There are different levels of support and price points that you can use on the path to removing that guilt and shame so you can step into your unstoppable life. After all, your finances are unique to you and your support should be, too.
Go to www.workwithaimee.com to get started with one of my most popular programs. Or you can book a Q and A call with me. We’ll figure out what your next step should be. Of course, all those links are hanging out in the show notes as well.
