Liz Weston: Sneaky ways inflation affects your money in 2023

By LIZ WESTON of NerdWallet

Inflation has a way of affecting nearly every aspect of our finances. Big jumps in tax brackets could save you money, especially if you’re working and your raises — like those of most workers — haven’t kept pace with inflation. Plus, a $2,000 increase in 401(k) limits means you can tuck aside more money for retirement. On the other hand, a whopping increase in the maximum earnings taxed by Social Security means higher earners will pay more in FICA taxes. If you’re a homeowner, you’ll want to review your coverage because there’s a good chance you’re underinsured.