Good MorningWow, this past week has been quite the whirlwind, hasn't it? I know it can be overwhelming to keep up with everything that's going on. But I wanted to make sure you had the most important information and some helpful free resources to get started on budgeting.

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Simpsons End Is Near Ep - 354

The US Treasury Department has warned that a debt default may occur as early as June of this year, opening the door for a divisive legislative debate.

The US debt ceiling will be reached on January 19, at which point "extraordinary measures" will be necessary to avert default. The US economy, Americans, and the integrity of the international financial system would all suffer greatly if lawmakers did not act quickly to increase or suspend the debt ceiling, according to Janet Yellen, the secretary of the Treasury.

The debt limit is a cap Congress put on how much money the federal government can borrow. It has previously been hiked to avoid a US debt default, which analysts have warned would be disastrous.

About a year ago I did make a video on Debt Ceiling, you can watch it here.

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Kevin O'Leary SharkTank

According to the Consumer Price Index (CPI), yearly inflation slowed down in December.

This relieves pressure on American households and is a good outcome for Federal Reserve and White House policymakers.

Due to declining gas prices and travel costs, the inflation rate was the lowest it had been since October 2021. Prices also decreased marginally on a monthly basis. The core inflation rate, which excludes the cost of fuel and food, is also declining.

Policymakers are constantly monitoring services inflation, which might keep prices climbing faster than the central bank's objective, as they are concerned that a full deceleration could be a lengthy process.

The Fed is hiking interest rates to reduce temperatures by reducing demand and the whole economy.

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WikiHow

Setting up a budget is a crucial financial habit that can help you take charge of your finances and realize your financial objectives, especially in 2023

At first, it could seem intimidating, but it's really pretty easy. You can monitor where your money is going and make changes to get closer to your financial objectives by making a budget.

With a budget without going overboard, you can set money aside for savings, settle debt, and create room for enjoyable activities.

You may improve your financial future by starting small and making minor modifications. The secret is to act and follow through. Your capacity to make money is at stake!

Here are some of my favorite free budgeting templates you can start with -

I hope that this week's newsletter was able to provide you with some value, even if it was just a small amount (e.g. 0.01%). Thank you again for subscribing to this newsletter and for your continued support. We currently have 18 subscribers and I look forward to continuing to grow our community and share valuable information with all of you. See you next Sunday!