Updated: 01/01/2013 10:40 AM KSTP.com By: Katherine Johnson
If the fiscal cliff deal passes, the average American family would avoid a tax increase of more than $3,400.
"We can't come up with some band-aid solution. We really need to fix the problem and come up with a long-term solution," said Financial Analyst Nicole Middendorf.
The deal includes extending tax breaks for households earning less than $450,000 and individuals earning less than $400,000, saving middle class families from huge tax hikes.
Middendorf says although our paychecks may not feel the blow of these changes, our economy still could.
"The stock market does not like uncertainty and we have a lot of uncertainty with who knows what's going to happen," she said.
"We're going to see a lot of volatility in the next couple of days let alone the next couple of months and really I believe the next couple of years."
Middendorf warns to watch our spending on life's little luxuries while it's still a choice and not a necessity.
"The government can really make the decision of whatever they want to and whatever agreement they come to so could anything happen? Absolutely. Who knows what's going to happen? I have no idea."
Middendorf says she's never helped more people sell their stock on Wall Street as she did this week.