Sneaky ways inflation affects your money in 2023

By now, you’re probably familiar with the more obvious ways inflation affects your finances. Your money doesn’t go as far at the grocery store, for example. Credit card and other variable-rate debt is getting more expensive as the Federal Reserve raises short-term interest rates to combat inflation. Rates are also rising, albeit more slowly, on savings accounts.

But other ways inflation helps or hurts have gotten less attention. In my latest for the Associated Press, learn some of the major changes to watch for in 2023.

This week’s money news

This week’s top story: Smart Money podcast on when your bank stiffs you, and co-signing risks. In other news: Job growth despite slight rise in unemployment, a high cost to stop inflation, and when the Fed hikes interest rates, who gets hurt.

Smart Money Podcast: When Your Bank Stiffs You, and Co-Signing Risks
This week’s episode starts with a discussion about what to do when your bank stiffs you with a low annual percentage yield.

Job Market Still Strong Despite Slight Rise in Unemployment
Job growth continues and wages remain strong despite forecasts predicting job losses in 2023.

A High Cost to Stop Inflation: Sink the Economy and Spark Unemployment
Money News & Moves: Fed interest rate hikes so far this year have been slow to move the needle on inflation.

When the Fed Hikes Interest Rates, Who Gets Hurt?
Federal Reserve Chairman Jerome Powell said in September that he wishes “there were a painless way” to lower inflation. “There isn’t,” he said.

Tuesday’s need-to-know money news

Today’s top story: Mortgage rates in September: A smooth ride, then turbulence. Also in the news: 3 tips for getting a business loan to deal with inflation, if car flipping is worth it, and event ticket sites that have the best deals.

Mortgage Rates in September: A Smooth Ride, Then Turbulence
Interest rates on fixed-rate mortgages are likely to remain fairly stable in the first three weeks of September, followed by volatility.

3 Tips for Getting a Business Loan to Deal With Inflation
If you’re considering a loan to combat rising costs, you’ll want to make sure it’s the right option to help your business.

Is Car Flipping Worth It?
There’s a new way to flip cars — order a vehicle from the factory to lock in the price and sell it at a profit after it arrives.

Which Event Ticket Sites Have the Best Deals?
Because Ticketmaster, StubHub, Vivid Seats, SeatGeek, and TickPick are not all created equal.

Friday’s need-to-know money news

Today’s top story: How a scarcity mindset can cost you mentally and financially. Also in the news: The yearly ownership costs of a new car, how much you’ll need to keep up with inflation, and how to legally ensure you’ll get your security deposit back.

A Scarcity Mindset Can Cost You Mentally and Financially
Scary economic news is everywhere, but adopting a scarcity mindset can get in the way of making wise money choices.

Buying a New Car? Prepare for Over $10K in Yearly Ownership Costs
U.S. drivers are on track to spend twice as much on gas in 2022 as in 2021 — pushing overall new car ownership costs higher.

Got an Extra $11,500? You’ll Need It to Keep Up With 2022 Prices
Even if inflation slows in coming months, Americans will have to spend thousands more in 2022.

How to Legally Ensure You Get Your Security Deposit Back
Security deposits are meant to protect the landlord, yet too often, tenants get screwed.

Thursday’s need-to-know money news

Today’s top story: 3 ways to fight inflation and win the long game. Also in the news: Why you shouldn’t bank on your business to fund your retirement, how to save on school supplies by tapping your community, and how to tell if a credit card annual fee is worth it.

3 Ways to Fight Inflation and Win the Long Game
Three areas where smart strategies become even smarter when prices are rising.

Don’t Bank on Your Business to Fund Your Retirement
A business failure, health issues or shifting market conditions can leave you unable to fully retire.

How to Save on School Supplies by Tapping Your Community
It’s that time again: back to school, back to spending so much money on supplies.

How to Tell If a Credit Card Annual Fee Will Pay for Itself
Annual credit card fees can be worth the cost, depending on your situation.

3 ways to fight inflation and win the long game

Inflation is scary. Groceries, gas, airfare, car purchases, utilities : In so many areas, your buying power is shrinking as prices continue to rise.

Fear can make you want to do something — anything! — to fight back. Thankfully, many of the best moves to counteract inflation align beautifully with time-tested money management practices. In my latest for the Associated Press, three areas where smart strategies become even smarter when prices are rising.

Friday’s need-to-know money news

Today’s top story: Should you Buy Now, Pay Later for back-to-school? Also in the news: $6 billion in relief to defrauded students signals change ahead, six ways to support small businesses hit with inflation, and these online resources will help you find free college textbooks.

Should You Buy Now, Pay Later for Back-to-School?
You can use BNPL to cover back-to-school shopping, but limit it to one purchase at a time and look for other ways to save.

$6 Billion in Relief to Defrauded Students Signals Change Ahead
More than 200,000 federal student loan borrowers who were misled by their schools are in line for $6 billion worth of debt relief.

6 Ways to Support Small Businesses Hit With Inflation
Business owners explain how they’d like to see their community show up for them as prices rise.

These Online Resources Will Help You Find Free College Textbooks
Why spend hundreds on a hard copy when you can download the PDF for free?

Tuesday’s need-to-know money news

Today’s top story: Mortgage rates are unlikely to cool in August. Also in the news: 6 ways to support small businesses hit with inflation, has remote work changed the travel landscape, and oat milk and coffee drink are part of a major recall.

Mortgage Rates Unlikely to Cool in August
Mortgage rates will likely rise in August as the Federal Reserve continues to yank interest rates higher.

6 Ways to Support Small Businesses Hit With Inflation
Business owners explain how they’d like to see their community show up for them as prices rise.

Has Remote Work Changed the Travel Landscape?
Widespread access to remote work has changed the travel industry, perhaps for good.

A Bunch of Oat Milks and Coffee Drinks Are Part of a Majo53 nationally distributed products have been recalled due to possible bacteria contamination.
r Recall

53 nationally distributed products have been recalled due to possible bacteria contamination.

Friday’s need-to-know money news

Today’s top story: First-time car buyers battle skimpy supply, sticker shock. Also in the news: Can student loan borrowers handle payments and inflation, 4 money moves to make before the baby arrives, and how to avoid ATM fees with these debit cards.

First-Time Car Buyers Battle Skimpy Supply, Sticker Shock
How to buy your first car when it’s the worst time to buy a car.

Can Student Loan Borrowers Handle Payments and Inflation, Too?
After nearly two and a half years of pandemic relief, federal student loan payments will restart after the pause expires Aug. 31 — unless it’s extended for the seventh time.

4 Money Moves to Make Before Baby Arrives
Adjust your budget now to account for child care expenses and any income loss during parental leave.

Avoid ATM Fees With These Debit Cards
Or use these strategies to avoid ATM fees with the debit card you already have.