Forbes - Inflation is finally cooling off

Your Weekly Advisor Update

A Note From Natalie:

From easing inflation and travel meltdowns to the end of emergency SNAP benefits, this week’s missive fills you in on a mixed bag of consumer issues as we settle into the new year. 

Very best,

Natalie

Natalie Campisi

Senior Staff Writer

Consumer Finance

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Why Is U.S. Inflation Cooling Off Now?

The inflation fever is beginning to break, which is good news. But we still may have to pay over $4 for a dozen eggs for a little while longer. While inflation is climbing at a less aggressive pace, it’s nowhere near the Federal Reserve’s target of 2% (it’s currently sitting at 6.5%). 

This means that the Fed will likely continue to hike interest rates (in an effort to cool demand), but not as aggressively as they did in the past. For workers, this could mean an uptick in unemployment because as the price of goods and interest rates rise, demand cools and businesses respond with layoffs. 

Economists are mixed on whether the U.S. is headed for a recession in 2023, but as credit card rates continue to rise, it might be a good time to hash away at lingering credit card balances and cut back spending where you can.

Read more about inflation expectations and how that might impact your wallet.

Debt Consolidation Loans For
Bad Credit

If you have bad credit and high-interest debts you want to pay off, it’s worth considering your options. Bad credit consolidation loans might work well for certain debts, especially those with sky-high interest rates like payday loans or title loans.

Debt Consolidation Loans

Here’s what else you should know
this week:

The Digital Subscriptions Americans Are Most and Least Likely to Cut in 2023

Speaking of inflation, this might be a fine time to audit your subscriptions. There may be a few you don’t even realize you’re paying for. According to a recent Forbes Advisor survey, Americans are devoted to certain subscription types and less enthusiastic about others. Find out which ones are popular here.

5 Top Tips for Handling Flight Cancellations Like a Pro

If you were one of the unlucky travelers to get caught up in the latest flight fiascos—the Southwest meltdown, followed by the FAA debacle—you might feel gun-shy about booking another flight anytime soon. Our experts break down what you should do if your flight is canceled.

Covid SNAP Benefits Expire Nationwide in February

Millions of households that rely on the Supplemental Nutrition Assistance Program (SNAP, formerly known as food stamps) will lose their Covid-boosted benefits as early as February 2023. The emergency allotments were put in place to help offset hardships during Covid. Read more on when states are ending the program and to learn more about 2023 benefits.

Debt Consolidation Loan Vs. Balance Transfer Credit Card

A balance transfer card can be a powerful tool in your debt-busting arsenal. A 0% APR offer on a credit card can save money by having all of your payments during the intro period go towards knocking out the principal balance instead of some being siphoned away to pay interest charges.

Best Balance Transfer Credit Cards

Minimum credit score

560

APR range

7.96% to 36%

Loan amounts

$1,000 to $50,000

Sponsored Content

Here's The No. 1 Reason Americans Crave Travel Rewards Credit Cards

People who love their travel rewards credit cards are most eager to use them to offset vacation costs, a new Forbes Advisor survey shows. Using rewards to grab a flight to a sunny escape or to stay at an all-inclusive ski retreat is even more appealing than other card benefits—like access to a speedy airport security screening line or a private place to relax away from other travelers.

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