While we welcomed the new year with open arms, January started off with a few curveballs. We saw short-term consumer confidence weaken due to a rise in both inflation and the Omnicron variant of the coronavirus. While this latest flow of economic data suggests that the economy is recovering, it appears that many households are beginning to worry about inflation and what’s going to be done about it.
Quickly switching gears for a brief look forward, February begins the runway leading up to tax season. You should have received your W2 from your employer by January 31st; if you haven’t, make sure to check with them. Start thinking about how you’re going to file your taxes and if you’re going to hire someone to help–April 18th will be here before you know it. And if you’re owed a tax refund, the sooner you file the sooner you can reinvest what’s rightfully yours!