Yahoo TV

On today's episode of Wealth!, Yahoo Finance Host Madison Mills breaks down how inflation and high interest rates could impact your personal finance goals.

Yahoo Finance Reporters Brooke DiPalma and Jennifer Schonberger first join the show to explain what inflation actually is and how it affects the average consumer. Brookings Institution Vice President and Director of Economic Studies Ben Harris joins to break down the history of inflation and what historical patterns can teach us about the current inflation crisis. Wealthstream Advisors Director of Investment Research Joe Orff then adds perspective on how inflation is hitting not just consumers' wallets but their savings too. He explains how high-yield savings accounts are great options for growing wealth amid high inflation.

Inflation has also hit the housing market. As affordability becomes an increasing challenge, new home buyers are turning to purchasing or constructing smaller homes. Bankrate Chief Financial Analyst Greg McBride breaks down how homeowners should be paying their mortgages amid high interest rates.

Finally, College Rover CEO Bill Townsend joins Wealth! to break down the financial aid process and the impact of the botched FAFSA rollout on high school seniors and their families.

This post was written by Melanie Riehl