McCauley Tax Consultants

If you are glued to the news, then you saw the Federal Reserve raised interest rates by .75%. You are left wondering; how will this affect me or why did they decide to raise interest rates?

Let’ address the why. You have seen prices of everyday goods steadily increasing. Your wallet notices the difference when you are shopping in your local supermarket or filling up your gas tank. Prices increase when demand exceeds supply.

In response to the rising price, The Federal Reserve raised interest rates to cool down inflation. The Federal Reserve is trying to slow spending, to decrease demand. When interest rates increase, people are less inclined to purchase a home, car or borrow with a credit card.

What are your thoughts to the increase in interest rates?

Everyone is discussing the hot button topic of inflation. Have you ever been told to save your money and eat at home? Did you know per the latest Consumer Price Index report, the price to eat at home rose significantly compared to eating out. What are your thoughts?

Do you like being in charge of your destiny and are you able to handle stress well? Do you have a great idea for a new business? You may be able to strike out on your own and become the entrepreneur you want to be. Here are some ideas that may help clarify your thinking and help you decide if you could become a successful entrepreneur.

In our personal finance series, we are debunking common personal finance myths. Let's discuss money management for our personal financial goals.
Do you have a question about personal finances? Send us your question in a DM or the comment section and we will address in our personal finance series.

Don't let common money myths stand in the way of pursuing your financial goals. Just because a belief is widespread doesn't mean it's true. We will debunk these myths in our Personal Finance Series.

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