This time of year following Mardi Gras (Fat Tuesday) and St. Patrick's Day, has usually signaled the pending arrival of Spring, but most often after a hump of snow and bone-chilling windy weather.
This year, so far, is upside down. Here on the Mid-Atlantic East Coast, we have yet to really experience Winter. I have fat robins in my yard and fully-bloomed daffodils. I expect to find tulips tomorrow.
At the same time, prices are out of bounds and consumers seem oblivious. The tacit acceptance of rampant inflation without protest, without clear belt-tightening, implies the public has enough saved up or handed it by government to blithly pay the higher sticker whether at Whole Foods or Walmart. Travel, for business and pleasure, is now open. Cruises and flights are over-booked.
Such acceptance assures unchecked shrinkage of the dollar. I don't want "disinflation." I want deflation. I think now, as I have for years, that a 2% inflation target is wrong. We should seek NO inflation.
While I fret, days are getting longer, the birds and the bees are doing their thing, and people everywhere are thinking about and planning future travel and finances. The rebirth of Spring causes us to look to the future, which can sometimes mean assessing some less-than-ideal financial behaviors.
A recent poll from the National Endowment for Financial Education shows that 43% of adults with combined finances who are in a relationship admitted to committing acts of financial deception. In short, they made impactful financial decisions without adequate or any discussion. They may even have hidden their actions.
Sure, discussing money with one's partner can be awkward, but imagine the conversations that occur only after you make that larger-than-usual purchase. It doesn't exactly put a spring in your step, does it?
We can help. Whether it's discussing beating inflation, a future (or past) purchase with your partner or loved one, or helping you pursue your financial goals, please don't hesitate to reach out.
To repeat a time-worn phrase: "An ounce of prevention . . ."
If what you know to be true about finances is not true, how soon would you want to know?
We are here to guide you in navigating the complexities of personal and business finance. Call us. Make an appointment to chat (no obligation) -- to see how we can help.