Where Did Americans’ Savings Go?
Рет қаралды 1,157,323
Күн бұрынThe trillions in excess personal savings built up in the pandemic are beginning to vanish amid high inflation, according to Federal Reserve economists. The monthly saving rate fell to a 15-year low in 2022. It started a recovery in 2023, but remains well below long-term trends. Despite this slowdown in saving, consumer spending has remained robust, keeping the U.S. from recession.
“Something like $2 [trillion] to $2.5 trillion above what we would have otherwise expected were saved by American households,” said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions.
Collectively, Americans have trillions in excess savings compared with expectations leading up to the pandemic, according to Federal Reserve economists.
Watch the video above to learn about how the personal savings rate affects you and the wider economy.
Chapters:
00:00 - Introduction
01:26 - Budgets
02:40 - The personal saving rate
05:33 - Recession?
07:48 - Ways of saving
Produced by: Carlos Waters
Edited by: Nora Rappaport
Animation: Jason Reginato
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images
Additional Sources: Federal Reserve Board of Governors, Organisation for Economic Co-operation and Development, U.S. Bank
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Where Did Americans’ Savings Go?
@DennisJack-km8ho 7 күн бұрын
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
@Sampson-jh7yq 7 күн бұрын
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
@FrankPatrick-no8zo 7 күн бұрын
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
@AustinWalter-pq1ud 7 күн бұрын
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy
@FrankPatrick-no8zo 7 күн бұрын
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@RuthEvelyn-rc3bg 7 күн бұрын
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
@Dannyholt33 9 ай бұрын
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
@jessy830 9 ай бұрын
@@Nernst96 I just checked her out and I have sent her an email. I hope she gets back to me soon.
@angelachanellehuang5663 8 ай бұрын
Hello
@zacharythomas8617 7 ай бұрын
You're rich.
@David-vm6uj 6 ай бұрын
@@jessy830 This is a scam...
@simplybeef8232 6 ай бұрын
And corrupted politicians..on both sides not just one
@alicemendoza5269 10 ай бұрын
Because it directly impacts people's cost of living, which they experience right away, inflation is much more destructive to people than a declining stock or real estate market. The severe pessimism of the market sentiment at this moment is not surprising. Help is essential if we are to live in the economy of today.
@thomaslewis514 10 ай бұрын
I feel like I could use some more help because I am having so much trouble navigating the market. Since the majority of my assets have already been sold, I might need some advice on where to put my money in investments.
@Igorstravinsky788 10 ай бұрын
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
@godof-ou1dw 10 ай бұрын
@@Igorstravinsky788 Please let me know the name of the investment consultant you work with and, if feasible, how I might get in touch with them.
@Igorstravinsky788 10 ай бұрын
@@godof-ou1dw I found "Ruth Loralann Brennan. on a CNBC interview, and I contacted her for assistance. Since then, she has provided me with entry and exit opportunities for the stocks in which I am interested. If you want care monitoring, you can look her up online.
@patrickperez7387 10 ай бұрын
@@Igorstravinsky788 Insightful... I was curious after reading what you shared, so I Googled her name. I came across her webpage.
@Natalieneptune469 8 ай бұрын
Inflation depreciates idle money. I'm in a privileged position to be able to save almost 65% of our net household income, as I placed it on safer investments. The key for us was not spending beyond our means. If you invest and have other sources of income outside of dividends then you will be able to live off dividends. Got north of $200K in my portfolio as I bought a lot of dividend stocks before, I'm buying more now, and I will buy more when it drops further
@user-lx3tr2pl8y 8 ай бұрын
The main problem is that most folks don’t care about anything other than football, Basketball and Music etc. They find it normal to take credit card debt which will cost them 20percent per year but considers it risky to invest their money and make 10percent or more per month. Learning to avoid high interest debt while also learning how to put your money to work for you by investing is a very powerful combo
@BenjaminMcLeod815 8 ай бұрын
This year has been a whirlwind for me. I've been able to get a great new job where I'm making more money. A question, how are you able to achieve all that given that the market has being a mess most of the year?
@Natalieneptune469 8 ай бұрын
I've raised over $550k since 2018. Just bought my 3rd property for rental. Credit to Deborah Jean Dykstra my Brokerage-Advisor
@user-cy7bs3hb8v 8 ай бұрын
Working with an FA will help put you through on your wealth-building journey if you're just starting out is a wonderful way to get started and that's how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your fin goal
@BenjaminMcLeod815 8 ай бұрын
Out of curiosity, I Looked up Deborah and her webpage popped up immediately, interesting stuff so far, i left her a mail, i'm hoping she responds soon
@mentonerodominicano Жыл бұрын
The fact that someone actually came up with a term like "excess savings" shows you how messed up the system is.
@BenjaminCronce Жыл бұрын
Savings is like fat. You need some to stay alive. And often more is better. But too much is also bad. Too much of a good thing is bad. How the world works.
@abinashsatapathy6679 Жыл бұрын
@@BenjaminCronce stop spouting BS online. It will make you sick.
@DavidH51 Жыл бұрын
@@BenjaminCronce What? A savings account is nothing more than a buffer for emergencies. Having a good amount to cover at least a years worth of expenses is sound advice.
@justingrinstead4315 Жыл бұрын
@@BenjaminCronce yes! Totally this. I’m in business for myself so cash flow can be spotty. There are moments when I have money in my account to maintain 0 balance on my CC, but sometimes I don’t get paid for 2-3 months on a job. It’s about managing the balance. Always knowing how much you owe and setting your own personal limit. I got 100k unsecured credit limit. But I set my personal debt limit to 20k. Then I know I need to take some action to reduce it.
@druidmechanics Жыл бұрын
@@BenjaminCronce I think that a large amount of savings is fine if you probably have many years ahead of you and you're growing your savings, particularly if you're outpacing inflation.
@Jennapeters144 9 ай бұрын
inflation remains well above the Fed’s 2% target. Some of the top commentators in the markets, business and economics have been sounding off on just how bad they think the next downturn might be - and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
@AanyaDarika_ 9 ай бұрын
Stocks are rallying but I know better, macro shows the economy is yet to recover. I been holding stocks to sell at a profit at this time but it is looking like a bull market the rest of 2023. I am in a fight to hold or to sell. I’m up to 297 grand from a low of 250 thousand last year.
@AnkurYo 9 ай бұрын
The market has been a turmoil since covid, the brief relief rallied for only a year and now the devastating effects of pumping trillions into the economy is here and will be for a while.
@benalfredo 9 ай бұрын
Stay in the mrkt and sell only if you need those funds. I got laid off and it has been difficult getting another source of income, glad I was investing when I did and of course with guidannce from a wealth-manager don’t listen to naysayers. I am making bank and the penalties for drawing from 401k to reinvest are nothing compared to the amount of wealth I now possess with my family.
@Muller_Andr 9 ай бұрын
@@benalfredo I have seen a lot about FAs and actually want to consult some pro. How did you go about it? Is yours any good?
@benalfredo 9 ай бұрын
I have saved myself from all the hassle that the chaotic market causes. These days the best way to come into the market space is seeking guidance, due to side hustles i can’t handle my portfolio so i just work with LOREN LENA WALKER, a FA i came across via a recommendation from one of these KZfaq retirement coaches. It’s been smooth since then. Cliche as it may I have made a mark up of 70% in profits investing 350k under her. It helps not to be worried about your portfolio every minute of the day.
@lawerencemiller9720 3 ай бұрын
I am regretting not investing in stocks ever since but still grateful i kept money in the money market. With about $200k maturing soon, i plan investing in the stock market. What stocks should I look into as a newbie to safely grow my money?
@alexyoung3126 3 ай бұрын
Thats when you hire someone to manage your money. You need a (CFP) straight up! personally, I would invest in ETF's and also love investing in individual stocks.
@jessicamoore3093 3 ай бұрын
Your advisor must be really good, how I can get in touch with them as my porfolio isnt doing well.
@jessicamoore3093 3 ай бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
@mangodiet801 3 ай бұрын
The stock market is a Casino where the house always wins - and these financial institutions, hedge funds produce nothing but earn from playing with your money, plus it's not FDIC insured, pricy at all time highs, better off with a High Yield Savings Account, CD, or (TIPS). Slow and steady wins the race, pay off your debts.
@jackzhu434 2 ай бұрын
@mangodiet801 why not just buy sp500 index ETF.
@AlexaVonSuess Жыл бұрын
What's depressing about the USA is that even if you do manage to save, it can be gone in a second for something out of your control. I spent five years saving a hefty amount "just in case." I broke my back a few months ago and now it's gone. Just like that - even though I have insurance. So what's the right amount? How do you ever feel secure?
@callous21 Жыл бұрын
Move to a country that makes Healthcare a right
@RoseBlackGoku2023 Жыл бұрын
well, if you didnt save and broke your back... where would you be?
@saleens330 Жыл бұрын
Just the US huh? So if I move to Canada I’ll never have an emergency that could tank my savings?? Good one…
@joeb1522 Жыл бұрын
I agree that healthcare expenses can be expensive. Most Health insurance plans have an out of pocket maximum. Did your insurance plan not have this?
@drscopeify Жыл бұрын
In the USA every insurance plan has a maximum per year a person can pay for health services and after that is paid everything else is free, it depends on the plan you signed up to but for most it is around $1000 to $6000 so your savings I guess were around that amount? That is not much savings. My insurance is from the company I work at and the out of pocket maximum is $3000, if I get hurt and need to pay $20,000 I only pay $3,000 and any other health care issues for that 1 year is also free since the maximum was reached. The Health Care in the USA is not bad at all thanks to this out of pocket maximum, and this was the work of Barak Obama's Healthcare reform law.
@Gracej34 11 ай бұрын
This bank crisis is so far from being over. Anyone who has been around for longer than 12 years, knows a credit crisis isn't over in two weeks. Makes me laugh seeing folks thinking this was all over so quickly. We are seeing a credit contraction that is gonna lead to a major contraction.
@MarkMilley810 11 ай бұрын
@lindholmlille 11 ай бұрын
@@MarkMilley810 I've come to realise that I can't trust corporations. I suffered greatly from the financial collapse in 2008. I've only been concentrating on investing through a financial adviser since 2019, and it has been paying off. I won't ever return to working for banks full-time.
@jetkastrokdova 11 ай бұрын
@@lindholmlille I'm sure the idea of an advisor might sound generic or controversial to a few, but new study by investopedia found that demand for portfolio-advisors sky-rocketed by over 41.8% since the pandemic and based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $400k from an initially stagnant reserve of $150K all within 14months
@MarthaDavis-fh6cw 11 ай бұрын
@@jetkastrokdova
@jetkastrokdova 11 ай бұрын
@@MarthaDavis-fh6cw credits to "ROSEMARIE AGATHA ALLORA one of the best portfolio manager;s out there. she;s well known, you should look her up
@user-lv5op8bo7q Жыл бұрын
I'm an over the road truck driver. I average 2500 take home per week. No bills except my cell phone. I think this is the only way to save money. Having a 9-5 job getting "home" everyday will definitely keep you broke if you're not making at least $30 per hour. The thing I noticed about the workforce is majority of companies just don't pay a liveable wage. That's the American way I guess
@a-t5380 Жыл бұрын
What percent do you put in 401k and Roth brother.. I'm still trying to learn
@user-lv5op8bo7q Жыл бұрын
@A-T I've never been a fan of 401k's. I deposit 75% of my earnings into an indexed universal life insurance policy. I'm pretty much my own bank lol. The best tax breaks also
@da11king 11 ай бұрын
@@user-lv5op8bo7q "Indexed universal insurance policy "??? How did you come about that decision 😮🤔?
@ibewill 11 ай бұрын
@@da11king Made a bad financial decision when there are better ways to invest and save the stock market would serve you better than some weird life insurance salesman
@Pokemonnostalgia1991 11 ай бұрын
You got a point buddy. I don’t understand or feel any of this “Financial or Inflation” but I do make over $30/hour even bought a Beautiful $55,000 C7 Corvette 2 months ago
@Sheil-hard Жыл бұрын
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
@bob.weaver72 Жыл бұрын
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
@lipglosskitten2610 Жыл бұрын
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@hermanramos7092 Жыл бұрын
@@lipglosskitten2610 Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person
@lipglosskitten2610 Жыл бұрын
@@hermanramos7092 My advisor is "Catherine Morrison Evans". In terms of portfolio diversity, she's a genius. You can look her name up on the internet and verify her yourself. she has years of financial market experience plus she is also FINRA & SEC verifiable.
@hermanramos7092 Жыл бұрын
@@lipglosskitten2610 She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
@coreylee9342 11 ай бұрын
A lot of people are unable to save due to the cost of living being up to 50% or more of a household's income, adding in rising food costs, rising insurance premiums, everyone seems to be spending more to live, but wages have not kept pace.
@donaldlyons17 11 ай бұрын
Easiest explanation to explain where the money went!!! But obvious does not make for good content!!!
@ahndeux 8 ай бұрын
People always have options. If you buy the same food, eat out everyday, what do you expect? Learn to live BELOW your means no matter how much you make and you will be fine. America is one of the richest countries in the world. Can't afford the rent? Move to a cheaper place or just rent a room. There are always options if you decided to be serious about saving. The rest of the reasoning are all EXCUSES. I know guys in my job that makes $150K to 200K a year and they live paycheck by paycheck. Why? They spend more than they make. They live in a fancy house by the beach, have fancy luxury cars, dine in fancy restaurants, wear nice clothes, but can't even pay off their student loans or credit card bills.
@cjhoward409 29 күн бұрын
On average … the average family is spending $1,000 more a month on just basic expenses !
@Evanrholloway Жыл бұрын
“Only 17% have exhausted their pandemic savings” is a hell of a way to rephrase “About 1/6th of Americans have lost their savings”
@simulationkoyo Жыл бұрын
where it go? It go to scams like crypto and gold. Why do you think there's millions of bots spamming such fake get-rich-quick stories on social media 24/7?
@lightningblender Жыл бұрын
@@simulationkoyo hell yeah. Do you know how much money you can make with it? It’s insane. I mean running the get-rich-quick stories…
@druidmechanics Жыл бұрын
One sixth.
@ninabeena83 Жыл бұрын
And that’s assuming that 100% of people even had pandemic savings. So it’s 17% of the (imho) small proportion of people who were able to save consistently and in amounts that actually matter, and then hold onto it for 3 years. A couple stimulus checks does not a healthy savings balance make. A lack of a commute or the inability to go all the places for a few months, same same. Another example of how out of touch these media and financial types are
@kevinmosser5969 Жыл бұрын
Another way of saying it is…. 1/5 of people are so bad with money no matter what they are given they will come he’ll or high water spend it asap even if it means burning it in the back yard.
@jamescryptoguru-md9nv 11 ай бұрын
For the first time in decades, america is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio.
@ErikBotheimLindtheim 11 ай бұрын
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
@MiguelLopes-fi6fz 11 ай бұрын
@@ErikBotheimLindtheim very true, I started investing before the pandemic and that same year I pulled a profit of about $600k with no prior investing experience, basically all I was doing was seeking guidance from a financial-advisorr, you can be passively involved with the aid of a professional.
@ArthurWeghorst 11 ай бұрын
@@MiguelLopes-fi6fz wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
@MiguelLopes-fi6fz 11 ай бұрын
@@ArthurWeghorst SOFIA ERAILDA SEMA
@MiguelLopes-fi6fz 11 ай бұрын
That's my licensed Financial advisor you can easily look her up, Thank me later!
@laszlolee Жыл бұрын
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $480,000 savings vanish after putting in so much effort to accumulate them for my retirement.
@Aaronduckstein49 Жыл бұрын
@@MarieCalascione- How can I contact your Asset-coach as my portfolio is dwindling?
@Aaronduckstein49 Жыл бұрын
@@MarieCalascione- I just looked her up on the internet and looked into her credentials. I wrote her a letter outlining my financial objectives and planned a call with her.
@easyrider3112 Жыл бұрын
This is the first time in 3 decades that my savings is exhausted. This is true of almost everyone I know. Costs went up and incomes didn't.
@happycook6737 Жыл бұрын
Find frugal friends! Become a ninja tightwad. So much fluff in most peoples' lives. Too many subscriptions, fancy gym membership, personal care products, salon haircuts & treatments, giving gifts, home decor, fancy toys, new cars, eating/drinking out, etc.
@busterbiloxi3833 Жыл бұрын
Blame yourself for being a sucker!
@feliciapate7926 Жыл бұрын
What do you do after cutting out all that? When you do your own coffee, rarely eat out, and buy needed items at thrift shops what else can you do? Become an ascetic monk and party like it's 1099? (Humor and hyperbole aside, I'm being sincere.)
@busterbiloxi3833 Жыл бұрын
@@feliciapate7926 Find something to do. Are you a mental case snowflake?
@happycook6737 Жыл бұрын
@@feliciapate7926 You have to decide if there is a job that will earn you more money. Obviously a $10/hour job leads to poverty. Another way is to move to an area with a lower cost of living because $10/hour jobs are available everywhere. For me, I have a tight budget. I spend $4/month on personal care products, $150/month on food for me, $50 insurance, and $120 car gas. I work full time and to get a free place to live I work nights/weekends as a housekeeper/petsitter. I don't use toilet paper, tissues, napkins. Instead use a water sprayer, cut squares from old cotton T-shirts for washable tissues, and use thrift store polyester napkins which I wash once a week. I cut my own hair/nails. I mostly drink tap water and occasionally homemade iced tea. For sweet treat I make a microwave mug cake because it's tasty & cheap. I pack my lunch. For fun I go to my library which has free wifi, free lectures, a seedbank, newspapers/magazines, etc. I take the dog to a dog park nearly daily. I ride my bike around the area. I visit friends and we do fun stupid stuff like charades, board games, cooking nights, learn new dances in the living room, etc. I volunteer. My friends are frugal so we don't exchange gifts, etc. We must watch our pennies as most people get poor $5 here and $20 there. An example, cost of soda. We can easily drink 3 liters weekly. That's $3 x 52 weeks in a year or $156. But if I drink soda for 80 years that's $12,480 spent. Do I like soda that much? I found out, I don't. What about lunches out? That's only $10/lunch. Well over 80 years it is $292,000 spent $10 at a time. Do I want a fancy lunch or a paid off house? Name brand catsup only saves 30cents. Is it worth it? Yes it is because if you take care it can add up in your favor. Hope this helps.living on a Dime and dining on a Dime are great.
@jibrilamvs Жыл бұрын
School doesn’t teach anything about budgeting or finances. That’s part of the problem; we need to get experience in this early so we don’t destroy our finances the hard way.
@yongchen4158 Жыл бұрын
Financial education good idea
@samsonsoturian6013 Жыл бұрын
They literally do. Maybe not as much as they should, but that doesn't matter since most people ignore those lessons just like we ignore those healthy living lessons.
@diantem8235 Жыл бұрын
@@samsonsoturian6013 they also “literally” do indirectly. Enough to a point of concern. I took an economics class and ironically, financial literacy wasn’t taught too well.
@samsonsoturian6013 Жыл бұрын
@@diantem8235 This goon equates "finance literacy" with "actually bothers to budget themselves."
@michaellong2439 Жыл бұрын
@@samsonsoturian6013 I had one week in a history class in high School that tried to skim over everything to do with finances. thats all I had in 12 years of public school
@martinc.720 7 ай бұрын
"Where did Americans Savings Go?" To the grocery store.
@cjhoward409 29 күн бұрын
That’s our biggest expanse
@santosme2398 26 күн бұрын
Well, Americans love to eat out. Only few of them cook at home. I have a friend who is housekeeper and she says that the kitchen of American houses is the most clean room in the house. They eat out a lot. 😊
@truth2power463 Жыл бұрын
I love it when bankers, investment consultants, and money managers tell the rest of us that we're actually not as bad off as we think. THEY put us in this predicament and then lament about the things WE need to do to get ourselves out of it. Just priceless.
@albertogonzalez1746 Жыл бұрын
Your government put you in this spot with democrat spending
@truth2power463 Жыл бұрын
@@albertogonzalez1746 LOL! You would have sounded more intelligent if you would have just written "D'uh!" 😆
@k_kelsey Жыл бұрын
Americans generally don’t save money and spend more than they make. It’s as simple as that. Please stop playing the blame game. Grow up.
@truth2power463 Жыл бұрын
@@k_kelsey As a researcher, I love it when people with relatively inactive brainwaves criticize salient points of fact without the benefit of ANY aggregate data or even the most rudimentary understanding of the subject. Your ridiculous assertion is that 57% of the population (188M people) simply doesn't save money because they're too busy spending frivolously outside of their means? Save your asinine retorts for those at your own comprehension level.
@Vospader21 8 ай бұрын
@@albertogonzalez1746Republicans put us in the spot by slashing our social programs so that they could give tax breaks to their billionaire donors.
@ashleykbarks Жыл бұрын
High interest rates, the transition to mostly credit cards instead of cash, junk fees, high housing costs, corporations giving CEOs exorbitant amounts of money compared to the people who are actually doing the work just for them to be a figurehead for pizza parties. There's a lot.
@alexnoor7689 Жыл бұрын
You sound like red bas tar ds in St. Petersburg in 1905. Do you want to go through that 70 years shi/ personally?
@diantem8235 Жыл бұрын
@@Traderking1990 that ignores the housing costs. Especially if that includes rent.
@Traderking1990 Жыл бұрын
@@diantem8235 That's a problem with no solution at least in short to medium term. In such a case, save some money every month for owning your own property and rent it out while you are still working. Those with inheritance from parents are lucky here.
@dynamichunter843 Жыл бұрын
90% of it is lack of wage growth and high cost of living increases. That wage growth is shattered by wealth inequality and the need for constant growth within companies, and only focusing on shareholders
@erichearduga Жыл бұрын
Higher interest rates, not high interest rates.... when I had a 13.9% car loan or mortgage rate at 9%+ that was high interest rates, it was great to see 6% and 7%.. Now we are just about at the historical average for rates. I know after 15 years of below average rates propping up growth they seem high.
@sbond7510 Жыл бұрын
This is essentially what I did. Held onto my stimulus checks and tax refunds. Moved it all into a HYSA during the pandemic. Best financial decision I made. I was fortunate that nothing catastrophic happened and I was able to boost my savings.
@dark12ain Жыл бұрын
Man I wish I could of did that, me and literally everyone I knew had to spend it on bills or paying their bills up as far as they can 😫 how did the investment turn out
@megan2349 Жыл бұрын
@@dark12ain Same. Some of us were just struggling to survive.
@likewaterforcoffee1570 Жыл бұрын
I used my stimulus to pay off debts. It has helped a lot.
@jason4275 Жыл бұрын
Consider yourself luck one medical bill can destroy your saving.
@PAWKID4LYFE Жыл бұрын
This is exactly what I told my cousin to do. She's an essential worker and had her income increase during the pandemic due to wage increases and overtime. I said, you're not used to getting this much money and your expenses haven't changed. Put everything away in an online-only savings so it's not easily accessible and she did that for nearly three years.
@darkday979 Жыл бұрын
Guys I'm part of the 17%! Woot. Let's be real, most people are barely getting by.
@annMarien Жыл бұрын
What should be on everyone's mind currently should be to in vest in sectors with guaranteed projected growth. Hard truth is that you can't always win with the market, just make sure your W's are more than your L's
@callumfrank Жыл бұрын
Fvck recession, it's def happening, thanks sleepy Joe. My total PNL last year was quite awful, my earlier days were better, my strategy is solely based on technical analysis. I thought once you are well grounded in TA you would always be more profitable.
@annMarien Жыл бұрын
@@callumfrank Not necessarily, TA relies too much on past performance and may not really be an indicator as to how well a stock will perform in the future. My technical analyst uses all tools including fundamental analysis. My wins outweigh the losses with great margin. Let's put it this way. Initial capital: 21k ~PNL in 2 years: 170k ~during this time I made up to 220k but I fell back to 170k. Still I gained way more and that's what I'm talking about.
@kristennn850 Жыл бұрын
@@annMarien True, technical analysis doesn't take fundamental factors into consideration like earnings reports and macroeconomic trends, that can have a significant impact on stock prices.
@callumfrank Жыл бұрын
@@annMarien Alright thanks duly noted 🙏🏻, who's your technical analyst though?
@annMarien Жыл бұрын
@@callumfrank Klaus Cassius
@algoflush1430 Жыл бұрын
4 reasons why you can't save money. 1 Car loan debt. 2 Credit card debt. 3 student loan debt. 4 Home loan debt. Payoff your debts and suddenly you have money to save and invest.
@cmorris9494 Жыл бұрын
If only that was easy. Especially if emergencies require a credit card. Like a $5000 repair in your house that the insurance company goes that's your problem.
@KailuaChick Жыл бұрын
Amen. I have so many friends making great salaries with tons of student loan debt who continue to purchase a new car every couple years, go on tons of vacations, buy homes they can’t really afford. Cut back on spending hardcore for a couple years, pay more than the minimums, and pay off your debts.
@busterbiloxi3833 Жыл бұрын
Well-said. Correct!
@jeretso Жыл бұрын
People are upgrading to bigger vehicles then they complain about rent prices and student loans. Do we really need lifted 4WD where it rarely snows and so many people can work from home?
@lynnmckenney1987 Жыл бұрын
If only it was that easy. You forgot the biggest ones...unplanned medical debt and inflation (While wages don't rise to match) over the last few decades.
@CristianHulbert Жыл бұрын
Certainly! I understand that living expenses and taxes can take up a significant portion of one's income in the UK, which can limit how far that income can go. Even 100k doesn't get you very far. So, what do you believe defines a person as being 'rich'? Is it simply being able to live comfortably above the standard and being financially secure, or does it also include having the ability to pursue expensive hobbies and travel frequently?
@GarrettDills Жыл бұрын
I believe being 'rich' means having all debts paid and having enough passive income(Having assets) to live comfortable is more important than salaried income because job security is never guaranteed. My mother lives in London and a Premier League footballer has purchased three rental properties on her street alone.
@RachelBrinkmeier Жыл бұрын
@@GarrettDills I would consider myself wealthy if you had a clear plan for how to distribute my life savings of around $5 million, which could generate a 5% dividend of $250k per year. That’s enough money to spend, donate to charity, invest, and reinvest. However, I’m having difficulty taking the necessary steps to make this happen.
@ThormanBoucher Жыл бұрын
@@RachelBrinkmeier It's difficult to give a definitive answer on this topic since it depends on your personal preferences and comfort level. However, one option is to keep things simple and consult an investment-advisor. They can help you determine your risk appetite, avoid common mistakes, and provide a broader perspective on your investment landscape
@AveryFetherolf Жыл бұрын
@@ThormanBoucher Would you mind sharing the contact information of your investment advisor? or suggest any? I’m in dire need for one
@ThormanBoucher Жыл бұрын
@@AveryFetherolf My advisor is “LISA ELLEN SHAW". Her investment firm offer a range of services to help you achieve your financial goals. You can research and compare her services online, or contact her directly to learn more.
@imbobbymudda Жыл бұрын
High interest rates, junk fees, inflation and the list goes on and on.
@alexxthegreatest8134 Жыл бұрын
This video honestly could've been a flashcard with the reason why everyone is broke lol
@jojoaja6106 Жыл бұрын
Because of stupidness following trends and media propaganda, high interest rate is good for the savers😅
@Antony..24 Жыл бұрын
Car insurance is just another ponzi scheme! Add up the last few years you've paid and you will see thousands have went to them for what?
@acaicadunkley792 Жыл бұрын
@@jojoaja6106 High interest rate on mortgages, credit cards, etc are not
@charlesiniesta1 Жыл бұрын
@Acaica Dunkley take advantage of the high interest to save so you buy a house when interest go down, but remember when interest go down house prices will probably go up
@jakubageter1689 7 ай бұрын
I recently made more purchases. Saving money for a market downturn is likewise a bad idea. There are numerous ways to look at recessions and depressions, we cannot always expect to make large returns, and taking chances is better than doing nothing. The bottom line is that you will achieve remarkable results by diversifying your portfolio and making wise decisions. My portfolio's raw earnings rose by $608k in just 5 months.
@AnnieBeischel 7 ай бұрын
Despite my confidence in your advice, my recent stock purchases, and the fact that I am an AMC shareholder, I haven't been able to accumulate anything. I had already been in the hole for too long prior to the downturn. What's the investing procedure?
@Adrianjacek- 7 ай бұрын
@@AnnieBeischel I don't invest in a single fund because I have a range of jobs. I don't behave at all like that. My behaviour is modelled after that of Stacey Lee Decker, a seasoned financial advisor licenced by the Securities and Exchange Commission (SEC) of the United States. My returns have since climbed swiftly in contrast to the IRA's gradual development. What I have is only used by her trades; very few truly specialised companies.
@Adrianjacek- 7 ай бұрын
You may look her up online and confirm her for yourself. She has extensive knowledge of the financial markets.
@StraightUpRainbows Жыл бұрын
According to the Kobeissi Letter, 36% of Americans have more credit card debt than savings. Over 1 in 3 Americans are in debt, rather than accumulating savings. That, is absolutely terrifying to think about.
@JenX422 11 ай бұрын
Hard to save on one income with real inflation 20% year over year two years straight.. means you needed a 50% increase in wage since 2021 to break even. I don't know one person that got a 50% raise.. even if promoted.
@mysterybuyer3738 11 ай бұрын
Not really because debt is a tool and most of it is unsecured anyway so if people are smart and have huge debts they can just walk away.
@elgatomoscato230 10 ай бұрын
Life's good for the other 2 then
@mysterybuyer3738 10 ай бұрын
@@donk8105 I would have stopped paying on them long ago. Heck I probably would not have made any payment at all.
@kathys1285 5 ай бұрын
If they were smart like me and my husband we PAID ALL the CREDIT CARDS when got the stimulus checks so when everything went back to normal we did it debt free clean slate
@colehowe Жыл бұрын
Rent.. would love to see more development in the affordable income housing sector!
@blipblop92 Жыл бұрын
Zoning issues, city doesnt allow for more housing or some stupid rules they make up to prevent builders from building
@benc6503 Жыл бұрын
As much as I'd love to see that too, it's far easier said than done. NIMBYism is probably the biggest roadblock to this. Taken to the extreme, you have places like San Francisco where being homeless and working full-time is pretty common (nationwide, about 1/3 of homeless work a full-time job). Or, you might have a place like the Hamptons in Long Island, where there's very little in the way of retail and service businesses in the east part of the island, and getting any kind of skilled labor (electricians, plumbers, etc.) to visit out there will cost an insane amount of money, because they can't have their depots and offices nearby. It also doesn't help that phrases like "affordable" or "subsidized" carry negative connotations, some of it justified, some of it not.
@aenews132 Жыл бұрын
You can blame the the government for that
@randomstuff-qu7sh Жыл бұрын
@@benc6503 Very true. "Affordable" and "subsidized" imply that *gasp* poor people will be moving in! Poverty is associated with crime, so people fear that not only will it damage property values, but it will also increase crime in the neighborhood.
@eksbocks9438 Жыл бұрын
I had a landlord once. Who set the price of rent to $400/month. The reason why is because he already owned the property. And it was paid-off. No mortgage. I personally think that loans shouldn't be involved when addressing a housing problem. The buildings should be efficient, and built to last. I also believe that there is such a thing as too much Property Taxes. It's necessary, but there's a limit. In addition, there should also be a limit to how much a person can charge for rent.
@connor_flanigan Жыл бұрын
people who 60 years ago would have lived in a 900 sq ft house and driven a car with no radio and no gas gauge (forget A/C,) now think they have a god given right to live in a 6,000 sq ft house and drive a $90k monster truck with leather seats and 3 sunroofs.
@WaveLord14 Жыл бұрын
Damn, cars had no gas gage back then?
@connor_flanigan Жыл бұрын
@@WaveLord14 on a lot of the old VW bugs, a gas gauge, AM radio and back up lights were optional. some cars didn't even have a heater - that was optional too. LOL
@djm2189 Жыл бұрын
Yup! They over consume and keep prices up even though they can't afford and are 1 paycheck away from losing it all. I grew up poor, now I'm 28, earn $112k+, no debt, and $50k straight cash. Yet i feel poorer since everyone overspends and I'm a bit frugal. Either that or everyone makes over 100k cuz they spend like they do...
@siracerkilic9806 Жыл бұрын
Thank you for being there *VRI TOKEN* when I wanted you to..... I was lost in this new world that I was hassled to start with ....you not only guided me along the way but you also showed me the proper way....whatever little I have been able to achieve in life is because of you today ..... I want to thank you for being there and showing me the proper way of doing thing for me you are my best guide as you truly showed me the way to life....once again , I would like to tell you a heartfelt thanks for being there.
@emirhanyuceldi7855 Жыл бұрын
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *VRI TOKEN* , Love the knowledge keep it up
@timshipp1145 Жыл бұрын
I've never been a big spender. My parents taught me to save first, spend later. Retired now at 61 and have zero debt. Thanks mom and dad.
@mikesteelheart Жыл бұрын
Yeah your success has nothing to do with timing, right just being frugal? Try being a young person starting out nowadays with those exact same habits vs 1978 and see how far it gets you.... How much were homes back in 1988 when you bought yours adjusted for inflation vs now?
@MrChillnaut Жыл бұрын
@@mikesteelheart Don't blame the person living, blame the ones in power.
@FineNaturalHairROCKS Жыл бұрын
This is the number one thing to do. Save first, spend later. I wish more people would practice this.
@lexluong8155 Жыл бұрын
@@mikesteelheart they retired at 61. If your working that long you deserve a retirement. If you can't retire in your 60s your doing something wrong. Frugal living and saving is important.
@bhnurse16 Жыл бұрын
@@FineNaturalHairROCKS I make good money as a nurse but I can't imagine spending a majority of my paychecks on just stuff. I love to save and make sure I budgeted for the fun things I want to do. I wish we learned more about finances in school!
@randomstuff-qu7sh Жыл бұрын
The primary reason, in my opinion, for savings going down is because the cost of living has skyrocketed due to inflation and price gouging (Corporations claim they have to raise prices because their expenses are higher, but they also are reporting record profits. Seems to me that inflation is an excuse to see just how much price gouging they can get away with.) without wages keeping up. The excuse for not paying more is they believe the inflation is temporary, and giving a pay raise for something temporary would be bad for morale when they take it back (pay cuts) or fire people later to make up for the increased cost. Thing is, they already are doing that (just look at the layoffs in the tech sector), so it strikes me as an excuse to screw people over. Also, I notice that the Fed almost always makes their decisions to benefit supply side while punishing demand. That's great for those who are already rich, since they own the supply side. The rest of us though...it feels like we pay the price for just about every economic ailment, even though we're not the ones causing the issues in the first place. People are running out of money to spare though. Maybe its time to make the supply side pay their fair share. Long as we're dreaming, how about laws to ensure that corporations pay a living wage. Its absolutely ridiculous that so many people have to work 2 full time jobs and still struggle to pay the bills.
@LostMySauce Жыл бұрын
Is it your opinion if it's a fact?
@Acteaon Жыл бұрын
Yea! That’s just not an opinion.
@africarib Жыл бұрын
1000% spot on
@RM-jb2bv Жыл бұрын
You have no idea what you are talking about. People have gotten so mind numbingly stupid (see your comment) and that’s why nobody has any money and inflation is running away . It’s actually just getting started.
@RM-jb2bv Жыл бұрын
@@LostMySauce This person has no clue what they are talking about. NONE. You wonder why the country is in the shape that it’s in. It’s bc stupidity and ignorance are the REAL pandemic.
@csick11 Жыл бұрын
Younger people benefited from inflation because of the higher wages. That's only if they are living with parents. If you are sole responsible for monthly upkeeps . Your interest rates and household needs had set you back. My spending habits has decreased dramatically but my savings have disappeared. Lord have mercy
@donaldlyons17 Жыл бұрын
Or those with duel income because they tend to do better than single income earners making 1/2 the amount.
@Investormillard 11 ай бұрын
Yes try being forced by family & startup to live in area with $300k annual average income & $1 million starter homes😊
@peeudo 10 ай бұрын
I think you mean “dual vs duel .”
@FFLorex Жыл бұрын
I get such GREAT service every time I go to the *VRI TOKEN* and the IRS is SO wonderful to work with. I DEFINITELY want the Government in charge of my Social Credit Score! This couldn't possibly be misused in ANY way! All the data breaches that the VA has had makes me confident that my data would be TOTALLY safe!
@2ferone86 Жыл бұрын
Why it's so hard to save money: If it was easy everyone would be doing it?
@denisech3351 Жыл бұрын
Here are some of the reason why people in USA save so little: 1.) Lack of financial literacy 2.) Living above your means 3.) Difficulty in delaying gratification and living below your means 4.) Believing consumerism will make you happy 5.) Lack of long term financial goals and planning 6.) Current inflation is eroding buying power 7.) Lack of affordable healthcare, schooling and housing The entire value system in the USA appears to be geared towards keeping people in debt and spending more than they earn to impress people they don’t even like. On top of that healthcare is very pricey and not good, schooling and housing are also very expensive. How can a person do better? By taking accountability and being self-aware. Having the newest car, the most recent IPhone and a home you can’t afford does not bring long-term happiness. People need to shift their mindset and believes and be willing to educate themselves financially and make changes to their spending and investing habits. It would also help if we all demanded better labor laws,affordable healthcare and schooling.
@ninabeena83 Жыл бұрын
You forgot stagnant wages. How much is someone making $20 or less an hour really able to put away for savings? And how many of those people are in this country? (a lot)
@Trignama1 Жыл бұрын
@@ninabeena83 again, that still comes down to living above your means. Make 20 an hour, but I bet you still have a smart phone with a unlimited data plan, when all you really need is a call / text plan, or I bet starbucks is part of a daily routine, maybe own their own car instead of using public transport, or live on their own instead of sucking it up and accepting life with room mates to cut down on your cost of living. Always options, even for low income. I made 12 dollars an hour after I got out of the military and supported my wife, son and me on it back in 2009. I worked 70+ hours a week to do it, wasn't in the most ideal living conditions, but I made it work, and still managed to save. Swallow that pride, and work to improve.
@briannerk3373 Жыл бұрын
@@Trignama1 Meanwhile, the top 1% hoard around 46 trillion dollars of wealth. So let's continue to put the moralizing pressure on the middle class
@emperorjj1 Жыл бұрын
@@Trignama1 just because it worked for you doesn't mean everyone has that luxury. while its a bit different its similar to saying just because Obama was elected president racism is no longer an obstacle. Certain "luxuries" aren't quite luxuries anymore. a smart phone can be obtained cheaply and unlimited data plans are the only option offered by ATT, verizon and T-mobile. I'm sure some of the smaller carriers may offer other plans but not the big 3.
@ivyvanderwall Жыл бұрын
My family and I are a family of 3. We don’t have the newest car, we haven’t updated our phones in 5+ years, and we don’t own a home, we rent. We rarely ever go out to eat, we don’t ever do anything extra such as theme parks, vacations, or anything of that sort. I will say I have done some shopping, but mainly for clothes for myself and my baby. What accountability do you suggest we take so that we don’t continue to struggle with money like we have for the last 2+ years? Sometimes it has NOTHING to do with being “accountable” or recklessly spending.
@uhudhamzaPUBG Жыл бұрын
I dunno… I was one of those people that didn’t care about a credit score, didn’t get any education about how important your credit score is, and I racked up debt like an idiot. I worked really hard and educated myself and I’ve brought my credit score from 480 to 732 and I’m still going up with *VRI TOKEN* . I feel like the government blaming credit reporting companies instead of the lack of financial education in their own public education system is foolish.
@lindadorman2869 10 ай бұрын
It took me decades to learn how to save. It is not hard but it takes a lot of discipline and hard work. You have to earn more than you spend, stay out of debt, live frugally on a budget and stop wanting so many things. I had to sell my house, car and nearly everything else, and start my own business to ensure financial security. Americans need to learn debt is not normal, inflation and emergencies are manageable, and spending is based on the life choices you make.
@tic857 9 ай бұрын
Same. It took a pandemic to actually learn and get all my numbers in order.
@richardm7713 8 ай бұрын
many jobs do not pay enough to save, many adults live with in shared houses, just so multi billion dollar corporations can make record profit after record profit and give away more money to the (already rich) share holders. The USA is a dystopian capitalistic nightmare for tens of millions of americans.
@David-vm6uj 8 ай бұрын
You're saving money that the government is printing in their back yards... Oh let us add another $1 trillion... Boom money is created
@kito1san Жыл бұрын
It's not hard. The real question is why it's so hard not spending money. Once you answer that then you can start saving.
@callicordova4066 Жыл бұрын
Amen.
@innocentrage1 Жыл бұрын
Some people like having water... utility bills keep going up along with food. We ain't buying Rolex watches over here
@Matt-hl5vm Жыл бұрын
@@innocentrage1 agreed. I love how people look down on the poor as if they’re just constant mistake makers. Switch the $100k earners with the $30k earners for a year. See how easy they find it to save then. If you aren’t earning enough, with the cost of everything skyrocketing, of course there is no room to save. I love everyone talking about “diversifying portfolios.” Some people are like, “I’m just hoping I can afford rent, water, food and gas this month.” Economic downturns always hurt those at the bottom the most because they can afford the least amount of destabilization. If you jack their rent up $500 a month, gas up $2 a gallon, food bill up $60, etc. they can’t exactly go to their employer and say, “OK pay me $700 more a month.” And these are good, honest, hard-working people who work 40+ hours a week trying to support themselves and their families.
@christinal3041 Жыл бұрын
Very true 👍
@theanimaster Жыл бұрын
Warhammer player here.
@poppadiddypuffio440 Жыл бұрын
Well, sad that I'm in that 17% category of people that burned through all of their savings. Even worse, since I got divorced during the pandemic, i'm worth less now than I was prepandemic.
@brianfalgiano5638 Жыл бұрын
I don't believe that 17% stat for a second. The majority of the stimulus money actually went to businesses, state and local governments, health care, etc. Only $1.8T reasonably made it's way into household pockets. These stats here are just so wrong. I refuse to believe that Americans are adding on an incredible amount of consumer debt if they still hold enough savings to completely pay it all off.
@jeffmiller9798 Жыл бұрын
@@brianfalgiano5638 you are so correct, stats are Way way off. Just more feel good reporting from CNBC...
@johnny2003 Жыл бұрын
You may be worth less. But you’re not worthless!
@Queen.of.Darkness. Жыл бұрын
Getting divorced probably added years to your life!
@CDN1975 Жыл бұрын
Don't believe that 17% stat. Stats lie.
@DGXGoggles 7 ай бұрын
Savings are gone because no one here lives within their means. With how stupid tipping culture is here for instance, no one making under 80k should honestly be eating out. Should stay home and cook and pocket the savings. Thats what I did until we crossed six figures and finally had a rainy day fund that allowed us to occasionally have that creature comfort. I didnt even have a car or house until I was 30. Rode the bus and rented cheap. But everyone wants to live like they're accomplished while they're young so nobody saves anything.
@HafezBd Жыл бұрын
A rise in portfolio losses this quarter is predicted by a number of indicators, including market falls, skyrocketing inflation, major Fed interest rate rises, and rising treasury yields. How can I make money in the choppy market of today? My million-dollar bond and stock assets are still something I'm considering selling.
@harod033 Жыл бұрын
Even in the midst of this whirlwind, there are chances to be had, thus a rise in volatility isn't always a bad thing. You can rebalance your portfolio thanks to volatility. The best course of action is to hire a financial advisor to help you along the way.
@godof-ou1dw Жыл бұрын
As a result, I prefer to let a portfolio coach handle my daily market judgements. Their entire skill set is focused on simultaneously taking long and short positions, taking advantage of risk to benefit from its asymmetric upside, and taking risk out of the picture to protect against the inevitable downward turns. I've been working with a portfolio coach for more than two years, and throughout that time I've made about a million and five hundred and seventy thousand dollars.
@Igorstravinsky788 Жыл бұрын
@@godof-ou1dw I'm glad I came across this discussion. Could you please leave your contact information for your investment advisor here? I desperately require one.
@AustinReid09 Жыл бұрын
@@godof-ou1dw Since I've been losing a lot of money lately, I contacted ruth and sent her a letter explaining my financial objectives. Thank you for the guidance.
@lifeinhd4053 Жыл бұрын
@@godof-ou1dw Is this entire comment thread literally an ad for this person?! JFC, talk about astroturfing.
@jfausset Жыл бұрын
The answer to why it’s so hard to save is directly related to the cost of housing. We need the Fed to sell their MBS on balance sheet. We need HUD to block any purchases of single family home purchases by anyone other than someone who lives in it.
@ZePopTart Жыл бұрын
I agree. Housing is a scarce resource and home ownership is critical to a healthy middle class. There are plenty of other ways for rich people to make money.
@tindrums Жыл бұрын
@@ZePopTartgood fir current renters but terrible for future becsuse new construction will stop.
@TK-gd9td Жыл бұрын
@@tindrums builders can’t make money without home flippers?
@ZePopTart Жыл бұрын
@@tindrums yeah what he said. And it’s not just good for renters. It’s good for the general economy when people have stability. It’s good for communities when neighbors don’t move every couple years.
@user-do5zk6jh1k Жыл бұрын
I have an easy solution. You know how you have income tax brackets? Create property tax brackets. Currently, property tax only scales linearly with property value. If you made percentage brackets, landlords who own millions to billions in property would also have to pay a huge percentage on their holdings. This would disincentivize giant property firms from getting so large and may even encourage dense development that reduces urban sprawl.
@tritonh5683 Жыл бұрын
It is not hard to save money. America and most of the west can not fathom the idea that they need to live like a poor person from 18-30. If they still hasn’t make it yet, then live the same way from 30-40. For most of us immigrants, poor life in America is 1000 times better than what we used to have back in our country.
@cutehumor Жыл бұрын
Too many entitled people want to live rich. You see it all over social media
Жыл бұрын
One of the fundamental principles I have learned is to "pay yourself first." Since I receive my salary bi-weekly, I have automated a 10% deduction from my first paycheck. By doing so, I don't even see the money, and therefore, I don't spend it. After a few cycles, I have adjusted my spending habits to accommodate the lesser amount.
@a-t5380 Жыл бұрын
Agreed always pay yourself first
@HerHealthyHome 10 ай бұрын
Start taking another 5 to 10 for investing. That's really going to help you in the future
@paulbroderick8438 Жыл бұрын
High schools need to start teaching sound basic personal money management emphasizing the differences between wants and needs!
@a-t5380 Жыл бұрын
Honestly.. we have so much free information out there .. even I had to stop blaming my schooling or way I grew up .. we have literally unlimited information in the palms of our hands via a phone... Just because you are out of school doesn't mean you have to stop learning . KZfaq has countless content creators teaching financial literacy and savings tips
@Cherokie89 Жыл бұрын
Almost nobody i know has savings. Theyre either scraping by or servicing debt payments.
@theresistance3818 Жыл бұрын
...this video had me feeling like I've been living on an entirely different planet for the past 4yrs 😐
@busterbiloxi3833 Жыл бұрын
You live in a trailer park.
@theresistance3818 Жыл бұрын
@Buster Biloxi @TheKaren ... your comments aren't offensive but your complete lack of socioeconomic awareness is without a doubt repugnant. #StudentLoanTrailerPark 🎓💸 on #PlanetMedicalBillsBillsBills 🌏🏥💸💸💸
@chapelknight951 Жыл бұрын
I've slowly using all the money I saved up in 2020. In 2020, I worked 4 to 6 12-hour shifts a week and saved $20K. I don't miss it lol, but I'm saving with less hours
@604h22a Жыл бұрын
Damn that’s weak sauce, 40 hours to me means it’s Wednesday
@busterbiloxi3833 Жыл бұрын
@Azuri e What's stopping you?
@busterbiloxi3833 Жыл бұрын
@Azuri e From working 12-hour shifts.
@busterbiloxi3833 Жыл бұрын
@Azuri e Then work for yourself, instead of a boss. Be your own boss. Be independent. Be an American! Or are you from Azerbaijan?
@busterbiloxi3833 Жыл бұрын
@Azuri e You are still complaining. Get over yourself and stop blaming "society" for your problems!
@sayitkaan-di9ig Жыл бұрын
When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss *VRI TOKEN*
@Americancowboy147 Жыл бұрын
Things aren’t looking good stock market, banking system and transportation industry , a number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850,000 before I turn 60, I would appreciate any advice on potential investments.
@RussellBarker1962 Жыл бұрын
VRI TOKEN 🚀🚀🚀🚀🚀
@KevinSmith-qi5yn Жыл бұрын
We've been in a recession for a year. The government just lacks the incentive to admit it.
@jbar_85 10 ай бұрын
The Teleprompter doesn’t want to admit to it so he can be re-elected.
@MH-YouTube-Controlled Жыл бұрын
Just say no. Cancel subscriptions, don't buy new items. Those who can't get a grip on their finances will get a real lesson in a few months. I like her plan and budgeting. ✔️
@innocentrage1 Жыл бұрын
Hard to just say no when you need heat and water. Most of my budget is spent on utility, phone and internet bill. 500 bucks out the door just on that
@MH-YouTube-Controlled Жыл бұрын
@@innocentrage1 All of those items are necessary today.
@kaylamorgan7308 10 ай бұрын
I didn't get stimulus checks back in 2020, but it makes me feel better about my struggles now to realize I'm not the only one going through this.
@aethro 10 ай бұрын
just FYI, you can still get those through your tax return, it gets paid out as part of your return, or used as a tax credit
@kistelkistel 10 ай бұрын
I'm still mad I didn't get the unemployment that I was entitled to
@xparadoxicallyx 9 ай бұрын
Welcome aboard to the rather large boat.
@kesayo 9 ай бұрын
My friend's wife got a stimulus check even though she made 100k and he made 400k that year. That's how stupid that was. They blew it on an expensive night out.
@kaylamorgan7308 8 ай бұрын
@@aethro I was still a dependent for my parents taxes at the time.
@darinherrick9224 Жыл бұрын
Pandemic savings? I was broke then and I'm in debt now.
@kineticstar Жыл бұрын
Banks haven't changed the % on savings accounts. They are paying .01-.02% of a percentage of a penny on the dollar. So, there is no incentive on savings. They are making a profit by not moving the percentage on savings and increases borrowing APRs percentage for loans and credit cards. Banks are supposed to be regulated but are in fact dealing with a loaded deck with the politicians and our money in their pockets.
@djpuplex Жыл бұрын
SoFi, Ally and Marcus all pay >3.5%
@karlee8608 Жыл бұрын
Dont put a lot of cash in banks. Just enough for emergency usage. You should be investing in great quality company and buying real estate.
@djpuplex Жыл бұрын
@@karlee8608 I churn bank accounts for sign up bonuses made $20k in bonuses over the past 2.5 years. Opened 73 banks/brokerage. Banks frequently offer savings account sign up bonuses as well. I invest 15% of income into Roth 401k.
@karlee8608 Жыл бұрын
@@djpuplex yes sir. People need to take advantage of these bonuses and then just go invest in great companies.
@14534 Жыл бұрын
There’s no conspiracy. They’re taking advantage of ill-informed and lazy people to finance their business on the cheap. You don’t like being taken advantage of? It’s not hard to open a high yield savings account or invest in money markets dude.
@_ytbe_ Жыл бұрын
Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *VRI TOKEN* , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.
@bubblecat9212 8 ай бұрын
I went to the store the other day and came out spending $30 for 3 things!!!! It was an impulsive decision and I think if we lived less, we would have more
@jesse7631 Жыл бұрын
Depending on where you live, if you're making over $100K a year and are living paycheck to paycheck, you're doing something extremely wrong, or have no understanding of how to budget.
@kevintyson1947 Жыл бұрын
agreed because I live in a high cost of living city only making $54k yet i have $20k in savings but I know people making $110k and crying how they dont have much to save
@grizz4321 Жыл бұрын
I agree, when you look at most people that claim to be living paycheck to paycheck you will find they are living beyond there means by eating out too often or buying things they do not need. These people need to learn to live on less then they make and save the rest.
@andrewferrauiolo4618 Жыл бұрын
People spend their lives in stores instead of with their families. People just spend money on things that they don't even need
@staticpurge Жыл бұрын
I agree! Around me people spend a ton of money on their house and then they seem to hate spending any time there! Always driving around spending money on gas and restaurants and what ever else they are always doing, traffic is even worse on the weekends nowadays.
@darthvader7380 Жыл бұрын
Yeah like teslas
@busterbiloxi3833 Жыл бұрын
Agreed. Americans are addicted to shopping. They are slaves to TV ads.
@andrewferrauiolo4618 Жыл бұрын
@@thekaren1111 That depends on where you live
@discocycle Жыл бұрын
I made a comment about this above! Culturally, we really demand such huge amounts of spending.
@ferhatdurmus9462 Жыл бұрын
At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month,It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Graham, fyi my emergency fund is also a done deal! by *VRI TOKEN* lol, i didn't made it myself
@da11king 11 ай бұрын
What is VRI token?
@Jayden12934 6 ай бұрын
Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!
@KateWilliams-gn5qr 6 ай бұрын
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
@DongaiTmorten 6 ай бұрын
Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my portfolio and plan my retirement
@Jayden12934 6 ай бұрын
Olivia Sullivan Financials is my portfolio-coach, I found her on CNBC where she was interviewed, I looked up her name on the internet. Fortunately I came across her and reached out to her, you can verify her yourself.
@user-qf5hp8pc9t 6 ай бұрын
Thanks, I just googled her I'm really impressed with her credentials. I reached out to her since I need all the assistance I can.
@ukdsg 6 ай бұрын
Thanks for this tip, her website popped up on the first page immediately I searched her on the Google web. I read through her resume and it seems pretty tight so I dropped her a message hopefully she replies soon.
@valeriephd Жыл бұрын
Economy gonna be in shock when I take all my savings account I've been saving up the whole pandemic and put it in to pay off my student loans when those are back in play 💀
@bonniegaither3994 Жыл бұрын
Not to mention the fact that people were selling their homes and having a lot more money to downsize and move wherever they wanted since they could remote work. I’m sure that added to the savings as well.
@timewing4611 8 ай бұрын
Everyone’s savings has gone to groceries
@jabbaweezy Жыл бұрын
This video sparked my interest in finding out how much the average 6 figure earners (100k-999k) save annually. On average it was less than 15 percent. The top 1 percent of all earners were saving between 30%-40% of their annual income. I'm sure the average 6 figure earner is living above their means.
@joshuaholt6298 Жыл бұрын
oddly enough, when you get laid off you have to eat into savings
@WaveLord14 Жыл бұрын
That's when the real anxiety sets in.
@mariaordonez2923 Жыл бұрын
the funniest thing is, the people who didn't get any stimulus checks in 2020 (aka, college kids that were 18 or older but still claimed as a dependent), are also the same people that are graduating and trying to look for jobs in worst job market in over a decade. lmao we're hella screwed
@DH-en4th Жыл бұрын
Independent contractors didn’t get checks either. A lot of people worked through the pandemic and made less than those at home.
@nerdstrangler4804 Жыл бұрын
Worst job market in over a decade? This is arguably the best job market since the 1950s, there is currently a massive labor shortage. I understand you are fresh out of college so you don't really have any frame of reference. But I got bad news, this is probably the best job market you will see in your lifetime.
@TheRockroll2 Жыл бұрын
@@nerdstrangler4804 I'm pretty sure they're referring to 2008. And no it isn't dingus.
@Ayo22210 7 ай бұрын
They should have a semester of financial literacy class mandated in high school
@duttybiggz Жыл бұрын
I am a recent immigrant to the USA (8 months) but, my wife has been here for 4 years, and we have no trouble saving money whatsoever. What I see when I look around me is people making a conscious decision in most cases to live beyond their means, treating credit cards as if it is cash, people having the need to live for instant gratification. My wife managed to save over 30K in the 4 years she lived here with our child and making less than 40K a year. America makes it sooooo easy to save money and live comfortably we find it amazing how/why so many Americans struggle and are in perpetual debt.
@XBarajasX Жыл бұрын
They are victims of a very wicked CONSUMISM, is very easy to spend on unnecessary, useless, non-lasting things. A concern could be a medical emergency that could drain your savings beyond insurance
@duttybiggz Жыл бұрын
@@thekaren1111 Wow, you comment actually says more about you than me. 1. You may not know this but moving to the USA "willy-nilly" isn't a thing, it takes years for me to took 4. 2 You assume that English is not my first language - it is; maybe in your world all migrants speak Spanish or some other language and the fact that you equate English to privilege blows my mind. 3. I migrated from a "3rd world" country so sorry to disappoint but I didn't come from privilege. 4 My father-in-law and my other siblings have been here for over 30 years each and they all have net worths over 1 million and cash in bank at least 200k. So I'm afraid I have to disagree with your sentiment completely. I do not believe there is a boogeyman out there forcing you to spend money you do not have. Debt from student loans and illness I get. But debt from discretionary spending is 100% on the individual.
@chukim8012 Жыл бұрын
U lying bruh 6:50
@mikasa1279 Жыл бұрын
That depends on where you live and what you do? You just assume people are spending beyond their means? How was she able to save, for instance?
@marlu6373 Жыл бұрын
@@mikasa1279 and crickets.
@chi_city1785 Жыл бұрын
It's hard to save money bc corprate greed is out of control.
@alperenerdem3920 Жыл бұрын
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *VRI TOKEN* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
@benmustafa4101 Жыл бұрын
Happy to see some greens again. The last few days have restored my faith in crypto and made me believe we aren't down and out yet. Already started making some of the significant buys I've been planning for sometime now. Over the last few hours I've bought myself a good amount of *VRI TOKEN* , one of the tokens I'm really bullish on. because of it's potential and high utility.
@bmc1222 Жыл бұрын
Look at how much money corporations made and the amount of consolidation that occurred over the last 30 years. One companies profits is a consumers loss. If investment companies buy rental properties and increase prices, your savings takes a hit since it makes saving harder. There’s a reason why they’re heavily invested in one of the most essential assets we all need, shelter and housing.
@ronkirk5099 Жыл бұрын
I'm glad to finally be seeing some interest earned on my savings. It helps offset some of the inflation.
@RM-jb2bv Жыл бұрын
“Offset inflation” ultimately means you are losing money. The REAL CPI is probably 10-15% rise and Fed funds rate is at 6% while bank interest is 1% if you’re lucky. If you had money in the bank for the last 2 , that money LOST ~ 15% of its purchasing power. You’re getting poorer thanks to massive goverment and thr Fed
@drscopeify Жыл бұрын
@@RM-jb2bv It takes time to shift from low rates and low inflation up and for banks to re-organize to offer higher returns but why not just buy treasuries? They had like 5% returns and the awesome I-Bonds are like what? 7%? maybe more just free money really. You are limited to $10,000 for I Bonds but I took all of it of course.
@ibewill 11 ай бұрын
@@RM-jb2bv Lazy take
@noneya154 Жыл бұрын
The average family spends $300 a month dining out. Even with prices skyrocketing and income stagnating, people are still spending like nothing has changed. An easy way to build your savings back up is to stop giving your money away. Seriously, all of us, me included, spend money on junk we don't really need. Most of us can find something to cut back on to save. Drive less, eat out less, find cheap or free hobbies, get rid of the subscriptions, get on a written budget (I HIGHLY RECOMMEND EVERYDOLLAR AND YNAB FOR THIS) and you will legit change your life. Cut up your credit cards, get afterpay out of your life. Move someplace cheaper if you can. Get a roommate, split housing costs with family members and save the difference or pay down debt. Most Americans would not struggle if they didn't have debt. You CAN be free, but you have to fight for it. You can do it!
@mikasa1279 Жыл бұрын
Stop saying "move somewhere cheaper." As for roommates, who the hell wants a roommate past the age of 30? BTW, where is your stat that $300 a month is spent on dining out? Was this from a poll?
@Investormillard 11 ай бұрын
I would die & face divorce & never see extended family again if I don’t live in area where income is over $300k & million starter homes!
@noneya154 11 ай бұрын
@@mikasa1279 It's a BLS stat, look it up. Why shouldn't I suggest moving somewhere cheaper? The two largest expenses most people have are housing and food. It would make sense to find ways to lower these two expenses if someone is struggling financially. I personally lowered my housing expenses by 50% simply by moving 35 minutes outside of town. As for the roommate bit, you don't always get to do what you want. Anyone over 30 should know that.
@noneya154 11 ай бұрын
@@Investormillard That's dramatic but ok.
@mikasa1279 11 ай бұрын
@@noneya154 But EVERYWHERE is getting more expensive; many jobs are located within urban centres; many people are close to family and friends in major urban centres. That's why. Also, when people move to cheaper areas, it pushes the locals out.
@emersonhoffmann2165 Жыл бұрын
*Considering the economic downfall and the rise in poverty across the globe. I ask; What’s the best way to achieve financial freedom?*
@nathaliamaurice5626 Жыл бұрын
This is the best question of the year. I pray you get the right answer here.
@emersonhoffmann2165 Жыл бұрын
If I could ask; who’s your financial Adviser and how do I gain more info?
@christinabecker5495 Жыл бұрын
Success is achieved through information and I am privileged to come across this opportunity. I have researched the professional’s names as mentioned and hope to come back with good testimonies in the future.
@tomasfrederico576 Жыл бұрын
When you are good at what you do, there will always be positive remarks. I strongly believe that Donald Nathan Scott is a great person and I will say to give his services a try and experience greatness.
@saleens330 Жыл бұрын
Wants vs needs. Learn that first. Budget. 2nd job.
@marcusbrown188 Жыл бұрын
When we buy cars like SUVs and trucks it’s because of our ego. Almost everyone doesn’t need them and rarely maximize use. Fast fashion which is cheap clothing marked at high price.
@LeoSG61 Жыл бұрын
Live within your means
@jimbojimbo6873 Жыл бұрын
People acting like 100k is meant to be some great income in 2023 💀
@user-mr8yl2fg9k Жыл бұрын
It is if you don’t try to flex like most 🤌
@cmorris9494 Жыл бұрын
I would love to make 100k a year.
@sayianbro5436 Жыл бұрын
Kinda is. Not many have that type of money
@lizj6314 Жыл бұрын
Right lol, people on 100k are mostly salary and salary sucks, those two checks are trash once they get to you
@Viccr72323 Жыл бұрын
@@user-mr8yl2fg9k in Cali and Ny it is nothing.
@muharremgumus4382 Жыл бұрын
Thank you for the update *VRI TOKEN* is done right, and waiting is part of the process,
@JohnDaniels 9 ай бұрын
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
@jaystarr6571 Жыл бұрын
Can't save because of *convenience fees, account maintenance fees, regulatory fees, access fees, credit card processing fees, broadband infrastructure fees, administration fees, destination fees, amenity fees, transmission fees, document fees, service fees...*
@kasseen Жыл бұрын
It went into inflation
@doujinflip Жыл бұрын
Which besides America's "money printer go brrrr" was at least as much from the massive supply-side disruptions caused by Russia deciding to go forcefully "liberate" Ukraine, as well as China shutting itself down due to the political hyperallergy of Zero-COVID.
@enesalaca8490 Жыл бұрын
Interesting consideration, have to consider digital land probably won't function like physical land obviously but I see application. The issue right now is no one can foresee where this space is heading. Metaverse is an obvious choice in purchasing land as it's backed by FB but when I bought my VR headset a lot of people didn't want to have any association with FB like having to create an account to access their VR profile. I think if fears of future pandemics persist people will be more willing to stay home and interact on VR for shopping and social events, not to mention viewing events in other countries without the costs of flying, etc. There's a lot of potential and opportunity to integrate with cryptocurrency when you deal with the right source like *VRI TOKEN* but there's probably a long way until a platform exists for it.
@Okchpod Жыл бұрын
My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit
@RussellBarker1962 Жыл бұрын
VRI TOKEN 🚀🚀🚀🚀🚀
@818silencer818 Жыл бұрын
Americas problem is everyone lives on social media. Everyone wants to post what car they drive, what restaurant they’re eating out at, what store they’re shopping at, where they are vacationing at. People are living way beyond their means because they see everyone on instagram doing it. Back in the old days people would try to “keep up with the Joneses” but now people are trying to keep up with all of society which is why credit cards are maxed out and people’s savings are depleted.
@RichardAmesMusic Жыл бұрын
Unless you’re earning millions a year, returns on non-retirement savings have almost no effect on wealth creation. Focus on limiting your costs and you’ll build wealth much more quickly.
@javaghoul6302 Жыл бұрын
Exactly, but also once youve accumulated some wealth investing in somthing is important too if you hope to make any big leaps in the future. Live frugal and well within your means.
@injanhoi1 Жыл бұрын
Same thoughts. In my words. Looks like you've got to hold on to what you can, limit spending, except on things you have to and then build up some savings. Most importantly invest that accummulated savings.
@ibewill 11 ай бұрын
It's not about wealth creation, it's about having a solid savings to cover anything that can come up
@gordongekko2781 Жыл бұрын
Let's be real. Most Americans would rather pay $7 for a cup of coffee or put an international vacation on their credit card, than save for retirement. And I for one will not entertain their whining and crying when they are still working paycheck-to-paycheck in their 60's.
@iamdjleaky 11 ай бұрын
A very important message here is that you have to start from somewhere! Took me some time to realize that you just have to build the habit rather than just stating your goal.
@jeremyridge1332 Жыл бұрын
Not me, I have 6 months of living expenses put away for emergencies.😁 Living below my means and staying committed to a budget every month, helps.
@asavannah7439 Жыл бұрын
Exactly, I agree 100%. There’s so many ways to spend less. There’s a lot of frugal KZfaq channels which are very inspirational
@ninabeena83 Жыл бұрын
I really wish these lunatics would stop making it seem like everyone amassed thousands of dollars in savings during the pandemic. Not to mention, even if they had, that’d have been tapped into by the increased cost of EVERY DAMN THING since 😑
@DudeDude491 8 ай бұрын
The 3 Big C’s: Credit Cards, Casinos, Car Payments
@FIRED13 Жыл бұрын
If you work for a US based co and say you conribute 5% to a 401k and the co matches 3% dollar for dollar, and you also contribute 7% to a non-retirement brokerage account, you not only saved 15%, remember, your Social Security tax is about 6% and your co contributes another approx 6%. It's not all doom and gloom
@yongchen4158 Жыл бұрын
Everything costs is going up while earning are not
@codelessunlimited7701 Жыл бұрын
Inflation destroyed most of the savings.
@mertcancayr456 Жыл бұрын
I started to look into NFTs to build more my knowledge. Your video was simple and very enjoyable to watch so thank you for publishing this content. I personally think this revolutionary way of buying /selling art or actually anything that can be classified as a virtual asset will need to be watched very closely. The sector is still widely unregulated and those activities can conceal massive risks of money laundering and financial crime at many levels. There was no case of money laundering or any suspicious activities when I made the decision to join *VRI TOKEN*
@temporarychannelname8620 Жыл бұрын
VRI TOKEN. Another bot
@smitz001 Жыл бұрын
Wages have been stagnant since the 1970s. Our basic wages don't even keep up with inflation.
Жыл бұрын
Would be good to see more comparators; other countries saving stats. 😮
@elinoreberkley1643 Жыл бұрын
Raise the debt ceiling forever. Problem solved. Back to my yacht.
@johng1738 Жыл бұрын
Can’t do that on American tv, makes narratives harder to push.
@Makalon102 Жыл бұрын
As a non American that's a common thing I see, if there was an event half way across the road that affected the us economy they blame the current president even tho they had nothing to do with it, Americans think in terms of America only and don't look at rest of the world
@ibewill 11 ай бұрын
A lot of similar countries have solid social safety nets, America does not.
@rcdriver107 Жыл бұрын
Our society makes us spend all of our money and borrow tons of money recklessly to the point of no going back!! But being given the opportunity to make a good, solid living is terribly and extremely rare!! We all should be ashamed and embarrassed to the fullest extent possible!! This is the RIGHT THING TO BE EXTREMELY EMBARRASSED ABOUT!!!
@PS_on_youtube Жыл бұрын
Who is ‘making you’ spend recklessly?
@darleneatkinson3906 Жыл бұрын
RCDiver10, I read your comment, I use to spent and go deep into debt myself, then I ask myself why am I doing this? I found out it was my personal thinking not the world not companies it was my incorrect thinking, so I had to adjust how I thought about what I was buying and why was I buying it? Life is fill with choices, now just like everyone I was born naked no money no cloth a Bady I grew up on farm and watch people what do they do is it worth following or should I avoid what they are doing? I know and lifetime rethinking how one thinks. I can only live my life but that is it each must decide what is your reasoning why you do what you do. I used to think something or someone will fix my life, but I finally grasp it I am the only one who can change me nobody else can do my life but me. I grew up away from people on a big farm. We all have different cultures how we are raised in the end it is up to each of us to decide our way of living our lives. Relationships, jobs, lifestyle, money or finances all require deciding for us. Hope you can enjoy your life journey.
@poindextersheelturn436 Жыл бұрын
@Azuri e Yeah, Gucci has gun to their head.
@leah9150 Жыл бұрын
@@darleneatkinson3906 I agree with what you are saying but I can also agree with the original commenter. In a capitalist society, the way a product gets to consumers' pockets is through heavy manipulation and sales tactics. It's like biological warfare. Fast food for example is made to be addictive to the human brain. It's not as easy to stay away from addictive products as it was in the past.. just saying.
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