The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 50s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
Carol Vivian Constable 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.
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..
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned 180k savings to turn to dust
In the world of finance, recessions are prime opportunities for wealth creation. When my portfolio suffered a significant loss in April of last year, I realized the need to enlist the expertise of a financial consultant. With her guidance, I have not only recovered from my losses but also generated a profit of 250k. The knowledge and skills I have acquired through this experience have been invaluable in my journey towards financial success.
Risk mitigation is indeed something to consider well before setting out on inveestments. Most often than not, CFAs take care of this perfectly. People downplay the role of CFAs until being burnt by their own instincts. I was in a similar situation a few years ago; Took my chances but stocks went crashing. Realizing I wasn't good at timing the market, I started working with an Adviser, which helped me build a $1.6m portfolio.
I personally work with “Annette Christine Conte ” she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.
America is presently besieged by the hydra-headed evil combo of inflation and recession. The worst aspect about this crisis is that consumers are piling up credit card debt. Credit card debt increased by 20% in April alone, while interest rates have doubled in a year. Inflation is so severe that customers are essentially going into debt to buy basic essentials. The collapse has certainly begun.
Every day, we face a new challenge. It has become the new normal. We felt it was a catastrophe at first, but now we know it's a new normal to which we must adjust. This year will be a year of great economic suffering across the country. What initiatives can we take to earn additional revenue during the period of quantitative adjustment? I can't afford for my hard-earned $200k to fall to dust.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
Thank you very much. I just checked her out and wrote her an email. I'm hoping she responds soon. I've been thinking about doing this for a long time, and I've already procrastinated enough.
That’s why YEARS ago, when I was younger, I worked 2 jobs, worked overtime and saved. I had friends laugh at me but… I have zero debt and they’ll never be able to retire. Choices. We all have choices.
I'm not trying to be a dick, but _going into debt_ "because it's convenient" is just about the stupidest thing you can do. I get it. Food prices have gone up. I'm dealing with that too. But you don't _need_ vacations. You don't _need_ a brand new cellphone every year. You don't _need_ other consumer electronics. You don't _need_ to eat out once a day. You don't _need_ a fancy car. You don't _need_ a condo downtown. Break the cycle of lifestyle addiction, and you can blow off food price increases like they're nothing.
@@simoncook7456 - Come on, now. Don't straw man me. Read it again. The message is lifestyle _obsession._ _Fancy_ car. New phones _every year._ _Downtown_ condo. Eating out _every day._ It's okay to have stuff. It isn't okay to _go into debt_ to maintain it.
Christ was poor himself. He knew the riches of this world were temporary. He said, "I counsel you to buy from me gold refined by fire, so that you may be rich..." Rich people are also enslaved...their god is money. Christ: “But woe to you who are rich, for you have already received your comfort..." Christ: How hard it is for those who have riches to get into the kingdom of heaven!”
I use credit cards for everything I can for the rewards, but I pay it off each month. The problem comes when you use them out of necessity because you can't pay your bills otherwise. That just means next month, you carry a higher balance and interest obligation and can afford it less and less with each passing month. I earn a good living, I don't have any bills after paying off my mortgage last year. Now, I'm "doom_saving" for the storm that's coming.
Ordinarily, I'd agree, but there is one scenario in which being in debt would be preferable: if you can borrow a lot of money and loan it back out at a higher interest rate, or if you can borrow a lot of money and put it into a dividend stock that pays more than the interest you're paying or into a growth stock likely to grow in price by more than 20% in the coming year. Of course, credit card interest rates are too high for both options. So, this doesn't apply to credit cards.
I actually have a few hundred k's invested safely but I actually shop only at Walmart, Costco, Sam's Club, and Aldis. I'd rather deprive myself than put my mind under immense stress.
I prefer her not to think of myself as poor (poor is a mindset), but rather, “near broke”. Financially disenfranchised? I have no debt. I have a very old (older than you!) ten speed bicycle that I’m putting back into shape. When I can’t ride the bicycle I drive a 1986 hoopdy. I turn on the hot water once every two days for a shower. Yes, it’s difficult, but I still have a roof over my head, a bed (air mattress)…. No longer driving a luxury car (oh man, I wish I had apppreciated those back then), I will soon be losing this cheap apartment and will “officially” be homeless but still, life is good. I’ve gone from eating at some of the finest restaurants in the world to eating dandelion greens in the springtime, but still, life is good and still worth living. It is no longer luxurious, but I’m warm, I have clothes, and a bed, and no debt.
@@Giang-dl2zq I'm in the same shape financially, have several thousand dollars in investments and fully own my house. I really don't mind economizing by shopping at cheap supermarkets and by not buying luxuries. Divorced, I have no interest in impressing women or friends anymore. Reading, exercising , meeting friends occasionally and enjoying TH-cam. A simple life is a fine life.
Sure. And the people who take out credit cards, student loans, and mortgages on houses they can't afford, put themselves into the situation. Unlike most slavery situations where a person doesn't cause their own slavery. But yes, they are slaves to the debt.
People don't understand silver is consumed and there is only a select small number of solely Silver mines left !! its a byproduct of other metals mining. There is less Silver above ground than Gold...it's gone and silver has more uses than Gold. I will advise y'all invest in them, imagine having back (×5) of your investment capital in just few days.
Everyone needs a different stream of income, unfortunately having a job doesn't mean security due to the high rate of tax, one needs to move ahead of their expectations.
Trading in Bitcoin now is the wisest thing to do now especially newbies ...the crypto market is really taking off and Bitcoin is in good shape to start trading now
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $250K across markets but don't know where to start
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
And that's terrifying. If you're a homeowner you can't put a new roof or HVAC on your home for 10k. As expensive as auto tech is today, 10k might not get you back on the road after an engine, transmission, or EV battery failure. If you're a renter with a car payment and you lose your job, 10k likely won't get you by much longer than 3 months. Terrifying times are coming...
@@Shadow_Banned_Conservative Actually I think terrifying times are already here, they are only going to get worse. My daughter and her husband make what once was considered a decent living wage. Young couple with kids. He now works two full time jobs plus she works. The way prices are soaring, I wonder if they will ever be able to afford their own home. Their rent costs more in their rural location than any mortgage payment I ever had, and they don't live fancy or in a high-cost area.
The only way to keep your credit rate up is to use more than one credit card and accrue debt. Those of us who only use debit cards have no credit rating with which to buy anything. I have no credit card debt, but also no credit rating. If you try to keep debt under control, you get screwed by the banks. What a scam!
I’ve only had a lowes cc because we’ve been building our own house for the last 10 years. I had a car dealership run my credit (for giggles). I have a 800 !!! 😮I have no mortgage and no car payments and only that one Lowes card which I pay off in full every month !
I have no debt, no cc card and 700 score. No mortgage, no car note. I buy everything in cash. A step card (pre-paid card) reports to the credit bureau. There are ways to build credit without creating debt.
In the 35 years I’ve been using credit cards, I’ve never used them as an extension to my own money. Instead, I’ve treated them like debit cards. If I don’t have the cash to immediately payoff the transaction, I will not use them.
The market's rise after Trump's win is surprising given the economic uncertainty. While some stocks, like Al-focused ones, look strong long-term, the volatility makes me cautious. Even Bitcoin is seeing a boost, but it's tough to predict where things are heading with inflation and interest rates. Staying cautious but watching for opportunities.
I agree. Even with great opportunities, we should proceed cautiously. Seeking market analysis or advice from certified market strategists is important.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
"You guys are making sense, but here's my dilemma: I know I need a financial advisor to guide me, but I have no clue how to find someone legit. Too many options and way too many scams out there. Suggestions welcome!"
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Tracy Britt Cool Consulting" I've worked with her for years and highly recommend her. Check if she meets your criteria.
Thanks for the tip! I searched for Tracy by her full name and found her profile without any trouble. I've sent her an email and am looking forward to hearing back soon.
My neighbors across the street from me … they make twice as much as my husband and I BUT, they spend 5 times as much and put it on credit cards. Took 2 cruises in 1 year. Crazy. They’re now in panic mode. I tried telling them 5 years ago when they moved here. Fell on deaf ears !
The high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Working with a financial advisor has been a game-changer for me. They provide invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
I've stuck with SOPHIE LYNN CARRABUS since the pandemic, and her performance has been consistently impressive. She’s quite known in her field with over two decades of experience, simply look her up.
What a strange world this is. In our mostly-one-income household, I got rid of our one credit card twenty years ago, and we have been doing just fine without it. If we don't have the money to buy something, we don't.
Debt is being a slave to the lender…I do not like the feeling of owing someone- any bank or any entity. That feeling has helped me stay out of debt- like a burden lifted off your shoulders -a freedom you have!
Trump will have you believe that your enemy is the illegal alien who is taking away the job you refuse to do while the real enemy are the billionaires who are getting richer at your expense.
Last week I took money out of my savings to pay off my credit 💳 card.... savings interest 4.5 % cannot over come credit interest of 29%. Looking forward to no spend no debt year in 2025. We all need to strike on spending to break these high prices.
I’ll do in 2025 like I’ve always done. But what I can afford (and need) in cash, debit. I keep saving for whatever emergency may come up. Needing a new washer or dryer or dr visit
That's great advice on a personal level, but if we all did that our economy would fail. Unfortunately, we're a consumption based society, we manufacture almost nothing to sell to the rest of the world to bring the money in, instead of having it continuously going out.
@@Shadow_Banned_ConservativeWell if Trump brings manufacturing back to the US, that will help some! We have our own consumers to buy our supply! I knew NAFTA sounded bad when it came out and Perot said you will hear a big sucking sound coming!
@@ellenm2873 It's going to take YEARS to do that at any meaningful level. And we're going to have to endure a lot of pain in the meantime until it does come back home. Tariffs are the only way to do that, make it painful to buy that stuff from overseas. The real question is, "Do we have the stomach for it?"
Good for you! The feeling of debt free will last a long time as long as you don't fall for the social media trap. People bragging about stuff they don't actually own to get likes and clicks. I got off social media 3 years ago. I paid off $20,000 in debt Jan 2020 (lol before pandemic). Haven't charged more than 500-1000 since then and pay if off every month. The last 2 months I gave myself a challenge to not use the credit card at all. It's been freeing because I got every Christmas present for free-used store rewards, Kohls cash, b-day freebies. I won't have a big bill in January like some people.
I had £45,000 in Credit Card Debt which I paid off last year. It took me 8 years to repay. I moved it all about to the lowest rate, then when it got to £20,000 I took out a loan at 3.9%. This was over 4 years. Now I owe absolutely nothing, no mortgage, no car loans, no credit card debt, nothing borrowed at all. Now all the money I used to service this debt each month is available for me to spend, save, invest each month as I choose. NEVER AGAIN will I get into debt. NEVER!!!
I have $1,000 in credit card debt but my card has 0% interest for 15 months. I don’t go crazy with spending but needed a mattress hence the money on my card now. Very grateful
I've been doing that for years. Opening a zero interest card. Using it until the intro period runs out, then cancelling the card and moving onto another zero interest card.
Speaking of which, mattresses are ridiculously priced and now they want to just give you a "new and improved" one sided mattress which translates into high cost for half a mattress.
I DONT KNOW WHAT TO EVEN CALL THIS LIFE ! ITS SOMETHING STRAIGHT OUT OF THE TWILIGHT ZONE ! WHAT WE ARE LIVING IN IS NOT EVEN REAL ! I HAVE NEVER SEEN ANYTHING LIKE THIS SHYTT SHOW IN MY LIFETIME IM 55 YEARS OLD !
This phase we are living in is the last step before a full blown depression. People need to learn gardening, sewing, canning your own food you grow. Put up a clothes line and dry clothes outside to cut down the electric bill. Yes it is going to be tough. People don't have to wear designer clothes. Shop yard sales and resale stores. Learn basic skills of living.
My partner and I are a year older. He will never get to retire. Will probably work until he dies or his back finally gives out. I have about 5-6 years left on this old bad heart of mine. I'm not sad. This world sucks.
@@theprophet489 It was great in the 70’s, 80’s, 90’s. Early 2000’s? Eh. 2010 it improved and 2020’s better. We moved to a cheaper state ! Got rid of that $900 a MONTH property tax and now only pay $600 a year !
@@artawhirler :Girls were girls and men were men. Ghee we could us a man like Herbert Hoover again. Didn't need no welfare state, everybody pulled his weight. Guys like us, we had it made, Those were the days." MeatHead, Archie, Edith, and Gloria. Thanks for taking me down memory lane!
Someone stole my wife's purse along with all her credit cards. Right away she wanted to call the bank and notify them of the theft. I told her to wait a few days because hopefully who ever took the cards would not be spending as much as she normally would...
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
I've lived over 10 years without any credit cards and am completely debt free (thank God). Credit cards are an enticing entrapment bait for unsuspecting youths and meager waged individuals. The rich don't need credit...
I knew this was coming -- I've been preparing and practicing for years ... I stay away from credit and usury because that's the stressors. Excuses of building credit does not mean carrying a balance -- paying off the balance builds credit the BETTER way! These rewards/points cards are just GAMES = excuses & excuses are lies!!! I started studying 'How to be debt free' after going bankrupt in 2001 -- fresh start ... well not really
@@MarcelleBryant-c3u Keep being asleep my dude. While others whom haven't worked a day in their lives get a free ride and spend your tax money on useless things.
I’m glad my grand parents pushed thru during the Great Depression. They pretty much only ate the food they grew in their garden and the fish my grandpa caught. And they hunkered down around their fireplace in the living room for heat. Every generation has some thing to get thru. Not the end of the world. Need money, go to work. I’m amazed at how many people don’t show up to work or call off and then whine when they have small paychecks. Ugh
@@Shadow_Banned_Conservative Yes. A brief period of modern comfort in human history has fooled us into thinking life is easy or fair. How helpless we are when it starts to crack.
Whether you are paying by cash or card, you are paying an extra 5-12% for everything because of visa, mastercard, or amex fees being priced-in. If you are playing the credit game for rewards and points, you are already falling behind people who are. It is a very messed up system.
I have always only had one credit card. No need for more than that, and I don't put a charge on it that I know that I can't cover in a short period of time.
You are really doing great for your community. Please a question. As of last weekend I counted on 5k but don't just know what to put it into. I have failed several times while trading and investing. I'm still confused.
You just have to keep trying your best. A lot of people keep suffering on how to put food on the table because of the weakness of giving more trial, but trust me it pays the best, i was once a victim of such experience..
Jasmine Harvey has taught me how to generate profit. Now I monitor before I place and that's the best. The most amazing part is that I still go about my daily job as usual.
It's greed. Products have have gotten smaller, poorer condition and some have disappeared all together. I'm surprised society hasn't collapsed. Hundreds of countries have gone rogue for less. Id be devastated if I didn't have God 🙏 I'm lucky.
More and more tents go up around town. It's not a joke. I already have my tent and sleeping bag on hand. Don't forget your air mattress. I bought Coleman. They work great. Next is to grab a solar setup. Been trying to learn more. Seems simple with the controller.
Those kids credit won’t be ruined for life! It takes 7-years for bad credit to drop off so unless the parents continue to use them which I doubt they’ll be fine.
During the Covid, I thought everybody was going to die. I was laid off, so i was living on 10 credit cards. Each one is about $25k. So, now I'm in debts $250,000. I no longer have a credit score. I received multiple phone calls from banks daily. And i don't worry about it.
8:42 Identity fraud is a crime. Children are not taking out credit cards. 4:16 Financial institutions are not required to raise their rates when the federal government raises interest rates, but they typically do so because the Federal Reserve's actions influence the market and make it more likely for them to adjust their rates accordingly to remain competitive; essentially, when the Fed raises rates, it becomes more expensive for banks to borrow money, leading them to generally raise their own lending rates as well. 11:56 yes, inflation is a real thing, but how we as a country are taking personal accountability for our expenses is a bigger issue.
Most people know, they have reached the end of the road with their finances. With that said, they can't accept reality, that they are broke.. This is a big problem for most.
If you're only making $14K a year you pay no income taxes, you're eligible for SNAP, Medicaid and housing assistance. The majority of cities and states have additional aid available for low income seniors and people with disabilities.
That was my goal was to save more this year instead of spending on eating out all the time. I actually ended up saving my last check at the end of the year which never happens.
I'm sure it varies, but for my wife and me it's more than that. Our rent's gone up an extra $800 per month alone. Some of the grocery items have doubled in price. Gas is more. Utilities are more. Insurance is more. Streaming services more. And it feels like I can't cut expenses fast enough.
The reason the cost of living is through the roof is due to greed. Greed is the love of money. The love of money is root of all evil. Anyone see the problem.
First of all live within your means just because you're American doesn't mean you need to gorge on as much food as possible and buy all the extravagant crap that's available that's available... This is why the entertainment exists to dangle things in front of your face and make you concentrate on things that are not important in life such as wealth.
I "un-retired" since I missed the fun aspects of the job, and I was being actively "head-hunted" to return to work (after accepting voluntary redundancy). Working part time, so I get all the Patient interaction benefits without the bureaucratic burden of a full-time position.
No credit card here living surviving on Ssdi 15 years paying house 4 vehicles at my driveway replaced my furn AC this last spring Understand groceries ridiculous new cars too high and most non serviceable by common combustion mechanic Only plastic I have is the FORCED DEBIT card at bank either take it or lose bank access 10 years ago and even my SSDI won't " cut" a check anymore
It's such a weird world we live in to see consumer expenditures in government data continue to rise and keeping the economy afloat, yet then also reports like this where it paints such a negative light on the consumer situation
My inflation rate is 40%+. Actually, my 8 credit cards are saving me from getting homeless. Plus I'm getting more offers for more cards everyday in the mail. 37% interest. Yikes!
I cringe and worry about if I can afford something before I actually buy it rather than worry about how I'm going to pay for it after selfishly buying it without thinking
Having the least $4,000 without investing it is just useless and a waste, how do banks grow? They continually invest with our money we saved with them to grow more than we all.
As an American citizen I feel this administration is treating us like a mushroom I'll advice you invest your money it works for you and help you earn more money.
It’s to the point I don’t even care anymore about credit. I’m just saving and investing while a pay off the card. Americans shouldn’t be living like this l, hell no person should be living like this.
The Bible speaks about this. I am not surprised 😮. I have Faith in King Jesus Christ our Lord and Savior 🙏 The New World 🌎 Order has implemented this Year's ago. Just be grateful and thankful for what you have. Eat Rice and beans, Oatmeal and potato soup. And more vegetables
I'm not saying things aren't more expensive, but people spend a lot on frivolous stuff as well. I'm pretty sure most people have streaming services they can do without. Maybe don't buy ultra processed foods. Seen people complain about geocery prices, but their carts are full of snacks, cereal, sodas, etc. Groceries are more expensive today, no question, but it's the ultra processed stuff that had the highest increase in cost. Door dashing, eating out multiple times a week or even per day. It's not the big purchases that are killing us. It's the micro purchases that add up unknowingly.
Sixteen Tons 🎶🇺🇲 I was born one mornin' when the sun didn't shine I picked up my shovel and I walked to the mine I loaded Sixteen Tons of number nine coal And the straw boss said, "Well, a-bless my soul" You load Sixteen Tons; what do you get? Another day older and deeper in debt. St. Peter, don't you call me 'cause I can't go... I owe my soul to the company store 🎶🎶🎶🥺 Sixteen Tons Tennessee Ernie Ford
Nevermind the credit thing , we're broke without it , it's hard enough without it , this is why years back i gave up on those , it cut maybe a good 30% of stress from my life ...👍👍👍✔️
Ha… I was born just so my parents could name me after my stepdad and so they can steal my identity. I found out at 18 and they said, ‘we thought you’d never find out’. WTF? They had defaulted on cars, homes, furniture, tractors, semis, and the IRS. I had to eventually change my full name because they couldn’t stop themselves, I mean just wouldn’t.. My credit file was a sheat hole for years until I did that, then they threw my pictures in their trash can because they couldn’t do it anymore.. ha..! I just disavow knowing them and that works for me..
I'm so sad for your experience. Sounds like your birthers were simply breeders not parents and narcissists into the bargain. Rise up! The best revenge is living well.
Sorry for you your advantage...you have your hole life to live without being dishonest like them and getting CCR depts. Wish you luck you will succeed😊
Finally for the first time since 1987 I don’t have a credit card. Inflation and health, car, home insurances are raising their costs dramatically. Medical costs through the roof! But a credit card at 29.9 that’s plain greed! Every time I think I am ahead; think again.
So - even though my basic food and living costs have increased by $300/month over last year - Social Security is increasing my monthly check by $60/mo. Seniors will all be relocating to SIDEWALKS soon. SHAME! FDR is spinning in his grave.
Now people understand why some of us go through therapy and leak our own information. I refused to take advantage of my children. But I got punished for doing that when I was targeted and harassed so much I did it myself. You don’t think your mindset affects the economy you’re wrong. This is a HUGE problem these days. I’ll have to probably figure out what my kids did after people are done playing house with them. I can’t even work because of this. They have jobs though thanks to me. I haven’t had an income for over 2 years because of this. It’s going to be a big deal.
Not me. I live on SS after divorce, housing collapse, disability, medical debt. So I moved to Thailand in 2020 and now I have so much disposable income I paid off all my $20,000 debt. Now I have that much more disposable income.
Not only are we spending more due to inflation, but many of us are LOSING income. My small business is losing roughly 25% in sales each month compared to the same time last year. It is getting rough out there! We keep cutting out any and all extras.
Use credit card ONLY when you can pay off the whole owed amount each time when the bill comes. Don't ever pay any interest to the credit card operator, ever !!
I made it in good time I am living at the bare minimum. Making 172K a year, and saving anything between 4-7K a month.Paid everything cash, no credit cards.
$300+ rent increases... apt. rent rising across the USA for 2025 If you are renting an apartment and your lease is up soon; expect to see a big increase in your rental bill... WATE6/Tennessee December 2024 🇺🇲🤦
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 50s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
Carol Vivian Constable 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.
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..
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned 180k savings to turn to dust
In the world of finance, recessions are prime opportunities for wealth creation. When my portfolio suffered a significant loss in April of last year, I realized the need to enlist the expertise of a financial consultant. With her guidance, I have not only recovered from my losses but also generated a profit of 250k. The knowledge and skills I have acquired through this experience have been invaluable in my journey towards financial success.
Risk mitigation is indeed something to consider well before setting out on inveestments. Most often than not, CFAs take care of this perfectly. People downplay the role of CFAs until being burnt by their own instincts. I was in a similar situation a few years ago; Took my chances but stocks went crashing. Realizing I wasn't good at timing the market, I started working with an Adviser, which helped me build a $1.6m portfolio.
Please can you leave the info of your invstment analyst here? I need such luck
I personally work with “Annette Christine Conte ” she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.
America is presently besieged by the hydra-headed evil combo of inflation and recession. The worst aspect about this crisis is that consumers are piling up credit card debt. Credit card debt increased by 20% in April alone, while interest rates have doubled in a year. Inflation is so severe that customers are essentially going into debt to buy basic essentials. The collapse has certainly begun.
Every day, we face a new challenge. It has become the new normal. We felt it was a catastrophe at first, but now we know it's a new normal to which we must adjust. This year will be a year of great economic suffering across the country. What initiatives can we take to earn additional revenue during the period of quantitative adjustment? I can't afford for my hard-earned $200k to fall to dust.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
Can you provide me the name of this coach? I've been researching advisers because I really need some guidance.
Her name is Melissa Terri Swayne can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you very much. I just checked her out and wrote her an email. I'm hoping she responds soon. I've been thinking about doing this for a long time, and I've already procrastinated enough.
We are not living life anymore, we are surviving this ridiculous life.
Life is great.. so is not we, it's you... lol!
That’s why YEARS ago, when I was younger, I worked 2 jobs, worked overtime and saved. I had friends laugh at me but… I have zero debt and they’ll never be able to retire.
Choices. We all have choices.
Debtors in houses making money destroying the value of savings for 50 years...
Do I exist or Do I Just exist?
That's the idea. So that people wouldn't notice the screwing that the government and the 1% is doing on the citizens.
I'm not trying to be a dick, but _going into debt_ "because it's convenient" is just about the stupidest thing you can do. I get it. Food prices have gone up. I'm dealing with that too. But you don't _need_ vacations. You don't _need_ a brand new cellphone every year. You don't _need_ other consumer electronics. You don't _need_ to eat out once a day. You don't _need_ a fancy car. You don't _need_ a condo downtown. Break the cycle of lifestyle addiction, and you can blow off food price increases like they're nothing.
Totally agree
I like the way you think
We were raised that way and don't stress now.
Have nothing so you can eat 😂
@@simoncook7456 - Come on, now. Don't straw man me. Read it again. The message is lifestyle _obsession._ _Fancy_ car. New phones _every year._ _Downtown_ condo. Eating out _every day._ It's okay to have stuff. It isn't okay to _go into debt_ to maintain it.
Proverbs 22:7 says, "The rich rule over the poor, and the borrower is slave to the lender".
So,some things didn't change since times of jesus,eh.
@@Jasmin.M-hz5ty Even earlier as Soloman wrote that about 1000 years before Jesus.
Exactly why the rich always try to run us down as much as possible.
Christ was poor himself. He knew the riches of this world were temporary. He said, "I counsel you to buy from me gold refined by fire, so that you may be rich..." Rich people are also enslaved...their god is money. Christ: “But woe to you who are rich, for you have already received your comfort..." Christ: How hard it is for those who have riches to get into the kingdom of heaven!”
Who could ever believe that there was credit during King Solomon.
Thats the problem with credit cards. It solves short term problems so conveniently, while creating long term problems.
Print print print
1 step forward…
2 steps back !
I use credit cards for everything I can for the rewards, but I pay it off each month. The problem comes when you use them out of necessity because you can't pay your bills otherwise. That just means next month, you carry a higher balance and interest obligation and can afford it less and less with each passing month.
I earn a good living, I don't have any bills after paying off my mortgage last year. Now, I'm "doom_saving" for the storm that's coming.
I have credit cards. I pay them off in full every month. I have no debt
@@shadowbanned4daysyep it works. Try explaining that to these tin foil hat type weirdos😱
I rather be poor than be in debt.......
Amen!!
Not me. You could die tomorrow and what good did your good credit do you?
@@bblount9352if your not in debt your doing better than most,your rich...lol
Ordinarily, I'd agree, but there is one scenario in which being in debt would be preferable: if you can borrow a lot of money and loan it back out at a higher interest rate, or if you can borrow a lot of money and put it into a dividend stock that pays more than the interest you're paying or into a growth stock likely to grow in price by more than 20% in the coming year. Of course, credit card interest rates are too high for both options. So, this doesn't apply to credit cards.
@@keithbellair9508that's the kind of thinking that gets you in debt.
I'm poor, but I'm not in debt. And the reason I'm not in debt, is because I'm willing to be poor.
Damned right! Credit cards and debt are for fools. After buying essentials like food, if I don't have enough money to buy something, I DON'T BUY IT!
I actually have a few hundred k's invested safely but I actually shop only at Walmart, Costco, Sam's Club, and Aldis. I'd rather deprive myself than put my mind under immense stress.
I prefer her not to think of myself as poor (poor is a mindset), but rather, “near broke”. Financially disenfranchised? I have no debt. I have a very old (older than you!) ten speed bicycle that I’m putting back into shape. When I can’t ride the bicycle I drive a 1986 hoopdy. I turn on the hot water once every two days for a shower. Yes, it’s difficult, but I still have a roof over my head, a bed (air mattress)….
No longer driving a luxury car (oh man, I wish I had apppreciated those back then), I will soon be losing this cheap apartment and will “officially” be homeless but still, life is good. I’ve gone from eating at some of the finest restaurants in the world to eating dandelion greens in the springtime, but still, life is good and still worth living. It is no longer luxurious, but I’m warm, I have clothes, and a bed, and no debt.
@@Giang-dl2zq I'm in the same shape financially, have several thousand dollars in investments and fully own my house. I really don't mind economizing by shopping at cheap supermarkets and by not buying luxuries. Divorced, I have no interest in impressing women or friends anymore. Reading, exercising , meeting friends occasionally and enjoying TH-cam. A simple life is a fine life.
@@maxwellspeedwell2585 Bravo! You've got good values.
I'm favoured, $22K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
May God bless Mrs Anna
services, he have changed thousands of
lives globally.
Yeah, 253k from Harrick maureen, looking
up to acquire a new House, blessings.
I'm glad to write her tay I do hope she
will help handle my paycheck properly😊😊😊
.Can l start with as low as $1,000?
Please who is this Mrs Anna
Debt is modern-day slavery.
Servitude
@@Kevin-mk6jo the best way to avoid debt is to not get in it ,it will trap you financially.... with a very slim chance of getting out of it.....
Sure. And the people who take out credit cards, student loans, and mortgages on houses they can't afford, put themselves into the situation. Unlike most slavery situations where a person doesn't cause their own slavery. But yes, they are slaves to the debt.
@@sheabilladeau1392 facts.
Only for student loans. You can sell your mortgage or file for bankruptcy, but student loans can be a financial death sentence.
People don't understand silver is consumed and there is only a select small number of solely Silver mines left !! its a byproduct of other metals mining. There is less Silver above ground than Gold...it's gone and silver has more uses than Gold. I will advise y'all invest in them, imagine having back (×5) of your investment capital in just few days.
Everyone needs a different stream of income, unfortunately having a job doesn't mean security due to the high rate of tax, one needs to move ahead of their expectations.
Trading in Bitcoin now is the wisest thing to do now especially newbies ...the crypto market is really taking off and Bitcoin is in good shape to start trading now
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $250K across markets but don't know where to start
That's awesome!!! I know nothing about investment and I'm keen on getting started. What are the strategies?
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
65% of Americans don’t have 10k in savings. Thats over 200 million Americans
And that's terrifying. If you're a homeowner you can't put a new roof or HVAC on your home for 10k. As expensive as auto tech is today, 10k might not get you back on the road after an engine, transmission, or EV battery failure. If you're a renter with a car payment and you lose your job, 10k likely won't get you by much longer than 3 months.
Terrifying times are coming...
@@Shadow_Banned_Conservative Actually I think terrifying times are already here, they are only going to get worse. My daughter and her husband make what once was considered a decent living wage. Young couple with kids. He now works two full time jobs plus she works. The way prices are soaring, I wonder if they will ever be able to afford their own home. Their rent costs more in their rural location than any mortgage payment I ever had, and they don't live fancy or in a high-cost area.
I don't even have $10 in savings ! Not being able to get a job sucks !
Same in Britain. Join the club.
wat u sayin they dont have 1000
The only way to keep your credit rate up is to use more than one credit card and accrue debt. Those of us who only use debit cards have no credit rating with which to buy anything. I have no credit card debt, but also no credit rating. If you try to keep debt under control, you get screwed by the banks. What a scam!
I’ve only had a lowes cc because we’ve been building our own house for the last 10 years. I had a car dealership run my credit (for giggles). I have a 800 !!! 😮I have no mortgage and no car payments and only that one Lowes card which I pay off in full every month !
I have no debt, no cc card and 700 score. No mortgage, no car note. I buy everything in cash. A step card (pre-paid card) reports to the credit bureau. There are ways to build credit without creating debt.
@@cjhoward409YES.. I have owned my home for 14 years bought it in cash. Never paid rent.
You could just get a card and purchase something for $10 and pay it off every month that’ll increase the rating.
I have several cards and never carry a balance. Have a small mortgage by today's standard. CS=817. How long you've had the cards matters.
In the 35 years I’ve been using credit cards, I’ve never used them as an extension to my own money. Instead, I’ve treated them like debit cards. If I don’t have the cash to immediately payoff the transaction, I will not use them.
This is how they should be used. To build a good credit score, not to finance your lifestyle.
The market's rise after Trump's win is surprising given the economic uncertainty. While some stocks, like Al-focused ones, look strong long-term, the volatility makes me cautious. Even Bitcoin is seeing a boost, but it's tough to predict where things are heading with inflation and interest rates. Staying cautious but watching for opportunities.
I agree. Even with great opportunities, we should proceed cautiously. Seeking market analysis or advice from certified market strategists is important.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
"You guys are making sense, but here's my dilemma: I know I need a financial advisor to guide me, but I have no clue how to find someone legit. Too many options and way too many scams out there. Suggestions welcome!"
I'm very cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "Tracy Britt Cool Consulting" I've worked with her for years and highly recommend her. Check if she meets your criteria.
Thanks for the tip! I searched for Tracy by her full name and found her profile without any trouble. I've sent her an email and am looking forward to hearing back soon.
My neighbors across the street from me … they make twice as much as my husband and I BUT, they spend 5 times as much and put it on credit cards. Took 2 cruises in 1 year. Crazy. They’re now in panic mode. I tried telling them 5 years ago when they moved here. Fell on deaf ears !
It's a debt based system. That's how it works folks.
The problem is its a debt expansion based system.. That system works, until it doesn't.
People living like money is not a problem.
@@CorollaProsperity the guilt shows in the spending behavior...
Tired, but Exactly‼️
Only if you borrow money. I always pay my bills with cash.
The high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Working with a financial advisor has been a game-changer for me. They provide invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
@@RobbieNixon-d1w Could you kindly elaborate on the advisor's background and qualifications?
I've stuck with SOPHIE LYNN CARRABUS since the pandemic, and her performance has been consistently impressive. She’s quite known in her field with over two decades of experience, simply look her up.
What a strange world this is. In our mostly-one-income household, I got rid of our one credit card twenty years ago, and we have been doing just fine without it. If we don't have the money to buy something, we don't.
That's what my Parents always said!
Bravo😊
And you didn’t have credit scores before the boomers sold us all into slavery over instant gratification. Just an fyi.
I'm still holding my head up no debt
Same here debt will destroy you miserably, have no debt to survive....
Anecdotal claim
Until such time that rent is further increased.
Debt is being a slave to the lender…I do not like the feeling of owing someone- any bank or any entity. That feeling has helped me stay out of debt- like a burden lifted off your shoulders -a freedom you have!
Same here. Used my credit cards to pay my way thru grad school. Tight budget but it worked. Graduating next spring debt free. Student loans my a$$.
It’s no life, we live in a dystopia of slavery and decay.
Trump will have you believe that your enemy is the illegal alien who is taking away the job you refuse to do while the real enemy are the billionaires who are getting richer at your expense.
Last week I took money out of my savings to pay off my credit 💳 card.... savings interest 4.5 % cannot over come credit interest of 29%. Looking forward to no spend no debt year in 2025. We all need to strike on spending to break these high prices.
I’ll do in 2025 like I’ve always done. But what I can afford (and need) in cash, debit. I keep saving for whatever emergency may come up. Needing a new washer or dryer or dr visit
That's great advice on a personal level, but if we all did that our economy would fail. Unfortunately, we're a consumption based society, we manufacture almost nothing to sell to the rest of the world to bring the money in, instead of having it continuously going out.
@@Shadow_Banned_ConservativeWell if Trump brings manufacturing back to the US, that will help some! We have our own consumers to buy our supply! I knew NAFTA sounded bad when it came out and Perot said you will hear a big sucking sound coming!
@@ellenm2873 It's going to take YEARS to do that at any meaningful level. And we're going to have to endure a lot of pain in the meantime until it does come back home.
Tariffs are the only way to do that, make it painful to buy that stuff from overseas. The real question is, "Do we have the stomach for it?"
Good for you! The feeling of debt free will last a long time as long as you don't fall for the social media trap. People bragging about stuff they don't actually own to get likes and clicks. I got off social media 3 years ago. I paid off $20,000 in debt Jan 2020 (lol before pandemic). Haven't charged more than 500-1000 since then and pay if off every month. The last 2 months I gave myself a challenge to not use the credit card at all. It's been freeing because I got every Christmas present for free-used store rewards, Kohls cash, b-day freebies. I won't have a big bill in January like some people.
I had £45,000 in Credit Card Debt which I paid off last year. It took me 8 years to repay. I moved it all about to the lowest rate, then when it got to £20,000 I took out a loan at 3.9%. This was over 4 years. Now I owe absolutely nothing, no mortgage, no car loans, no credit card debt, nothing borrowed at all. Now all the money I used to service this debt each month is available for me to spend, save, invest each month as I choose. NEVER AGAIN will I get into debt. NEVER!!!
"Anxious", but never "Worried"! What's wrong with people these days, is everyone living in denial?
I have $1,000 in credit card debt but my card has 0% interest for 15 months. I don’t go crazy with spending but needed a mattress hence the money on my card now. Very grateful
I've been doing that for years. Opening a zero interest card. Using it until the intro period runs out, then cancelling the card and moving onto another zero interest card.
@ me too. I always find cards that give me 0% and a $200 welcome bonus for spending a $1,000
Having good credit is importing
I only use credit for business
Speaking of which, mattresses are ridiculously priced and now they want to just give you a "new and improved" one sided mattress which translates into high cost for half a mattress.
A grand for a mattress?
I DONT KNOW WHAT TO EVEN CALL THIS LIFE ! ITS SOMETHING STRAIGHT OUT OF THE TWILIGHT ZONE ! WHAT WE ARE LIVING IN IS NOT EVEN REAL ! I HAVE NEVER SEEN ANYTHING LIKE THIS SHYTT SHOW IN MY LIFETIME IM 55 YEARS OLD !
This phase we are living in is the last step before a full blown depression. People need to learn gardening, sewing, canning your own food you grow. Put up a clothes line and dry clothes outside to cut down the electric bill. Yes it is going to be tough. People don't have to wear designer clothes. Shop yard sales and resale stores. Learn basic skills of living.
My partner and I are a year older. He will never get to retire. Will probably work until he dies or his back finally gives out. I have about 5-6 years left on this old bad heart of mine. I'm not sad. This world sucks.
Mywife and i were watching some old 80's sitcom and it hit us that that life doesn't exist anymore.
Neither do the 60's😢
When did it ever was great 😂😂😂😂
@@theprophet489
It was great in the 70’s, 80’s, 90’s. Early 2000’s? Eh. 2010 it improved and 2020’s better.
We moved to a cheaper state ! Got rid of that $900 a MONTH property tax and now only pay $600 a year !
"My, the way Glenn Miller played/ Songs that made the Hit Parade/ Guys like us, we had it made/ Those were the days!" 😂
@@artawhirler :Girls were girls and men were men. Ghee we could us a man like Herbert Hoover again. Didn't need no welfare state, everybody pulled his weight. Guys like us, we had it made, Those were the days." MeatHead, Archie, Edith, and Gloria. Thanks for taking me down memory lane!
If u cant keep ur credit card monthly payment at zero.
U shouldn't have a credit card.
They are there for convenience.
Not necessity
Someone stole my wife's purse along with all her credit cards. Right away she wanted to call the bank and notify them of the theft. I told her to wait a few days because hopefully who ever took the cards would not be spending as much as she normally would...
Best laugh of the year. Thanks.
I only owe $550! 2 cards ! I haven't had high debt in over 25yrs. Im 52 in excellent health condition! Lived and learned hard lessons
Good going.. I'm older and also great health and going to buy a Sailboat.
@RedNeck-x6d This an invitation?😊
@@RedNeck-x6d bad idea
My Social Security COLA was a whole $35 for 2025. How the hell am I supposed to survive ?😮
And most likely Medicare will increase taking most of that col adjustment!!!
You don’t! Lol
go on wellfare
Just focus on surviving. Trump will fix everything and we will all be rich. 😂😂😂😂Lol 😂😂😂
Get a job
Retirement Ready? Balance Risk and Reward with Bitcoin Investments Today🇺🇲🇺🇲
Many new tra-ders face challenges without proper guidance. I found success by learning from James Clark's expertise.
@@gmachlinexactly that's why I always seek Mr J Clark's guidance in all I do 😊
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
I've lived over 10 years without any credit cards and am completely debt free (thank God). Credit cards are an enticing entrapment bait for unsuspecting youths and meager waged individuals. The rich don't need credit...
I knew this was coming -- I've been preparing and practicing for years ... I stay away from credit and usury because that's the stressors. Excuses of building credit does not mean carrying a balance -- paying off the balance builds credit the BETTER way! These rewards/points cards are just GAMES = excuses & excuses are lies!!!
I started studying 'How to be debt free' after going bankrupt in 2001 -- fresh start ... well not really
If you're on Reddit, I think r/debtfree would be the sub for you.
Yes i realized that cash back is just a game. They were going to give me $20 for spending $2,000-no thanks.
If everything is so expensive what is the point to be alive for people who is suffering financially
That's life. Ups and downs. Good days, bad days.
@@MarcelleBryant-c3u Keep being asleep my dude. While others whom haven't worked a day in their lives get a free ride and spend your tax money on useless things.
I’m glad my grand parents pushed thru during the Great Depression. They pretty much only ate the food they grew in their garden and the fish my grandpa caught. And they hunkered down around their fireplace in the living room for heat. Every generation has some thing to get thru. Not the end of the world. Need money, go to work. I’m amazed at how many people don’t show up to work or call off and then whine when they have small paychecks. Ugh
@@cjhoward409 We've become soft with technology and convenience. We couldn't survive today what our grandparents did long ago.
@@Shadow_Banned_Conservative Yes. A brief period of modern comfort in human history has fooled us into thinking life is easy or fair. How helpless we are when it starts to crack.
Whether you are paying by cash or card, you are paying an extra 5-12% for everything because of visa, mastercard, or amex fees being priced-in.
If you are playing the credit game for rewards and points, you are already falling behind people who are. It is a very messed up system.
I have always only had one credit card. No need for more than that, and I don't put a charge on it that I know that I can't cover in a short period of time.
Back to cash and carry economics
@@horationoseblower6336 absolutely....
Real talk
I remember the egg boy who use to sell $10.00 trays of 36😂 brown eggs from his father's farm.
Gotta find that guy again.😂
been that way for yrs i ask how much 4 cash then opn up and pay less
@@horationoseblower6336 the barter system,trade....
Yes been doing that for 2 months. It's great. Don't spend as much when you have to hand over the green.
Jesus paid it all,
All to Him I owe;
Sin had left a crimson stain,
He washed it white as snow.
You are really doing great for your community. Please a question. As of last weekend I counted on 5k but don't just know what to put it into. I have failed several times while trading and investing. I'm still confused.
You just have to keep trying your best. A lot of people keep suffering on how to put food on the table because of the weakness of giving more trial, but trust me it pays the best, i was once a victim of such experience..
That is absolutely true, I got into different skills of investing after facing the last recession. Folks need to know the importance of investing.
It's clear there are numerous types of investments but one should be exposed to it before venturing!
Jasmine Harvey has taught me how to generate profit. Now I monitor before I place and that's the best. The most amazing part is that I still go about my daily job as usual.
Am surprised you made mention of Jasmine Harvey, she's the best at the moment and her professional strategies are everywhere...
I've never had a credit card. This is all very extreme to me. So much doom and gloom.
My advice: Don't ever get a credit card.
It's greed. Products have have gotten smaller, poorer condition and some have disappeared all together. I'm surprised society hasn't collapsed. Hundreds of countries have gone rogue for less. Id be devastated if I didn't have God 🙏 I'm lucky.
Not too long ago I was able to save 1/2 of my income. Today I save 25%
Recently married? 😂
Tomorrow it will be 10%
It’s frustrating and so predatory
Look at the bright side though, at last you're still in the black. So many people are already in the red and the worst hasn't even begun yet.
What's the point of saving your money is worthless 😮
I've been paying down cc's. Already paid off 1, now paying down the 1 with the most debt on it.
Good job. I know it's hard. I paid off 20 grand in 3 years. I sold literally everything I owned.
@@Ioncandi Yep, I'm also overpaying the principal on the mortgage, knocked years off it in less than 4 years.
More and more tents go up around town. It's not a joke. I already have my tent and sleeping bag on hand. Don't forget your air mattress. I bought Coleman. They work great. Next is to grab a solar setup. Been trying to learn more. Seems simple with the controller.
Those kids credit won’t be ruined for life! It takes 7-years for bad credit to drop off so unless the parents continue to use them which I doubt they’ll be fine.
During the Covid, I thought everybody was going to die. I was laid off, so i was living on 10 credit cards. Each one is about $25k. So, now I'm in debts $250,000. I no longer have a credit score. I received multiple phone calls from banks daily.
And i don't worry about it.
8:42 Identity fraud is a crime. Children are not taking out credit cards. 4:16 Financial institutions are not required to raise their rates when the federal government raises interest rates, but they typically do so because the Federal Reserve's actions influence the market and make it more likely for them to adjust their rates accordingly to remain competitive; essentially, when the Fed raises rates, it becomes more expensive for banks to borrow money, leading them to generally raise their own lending rates as well. 11:56 yes, inflation is a real thing, but how we as a country are taking personal accountability for our expenses is a bigger issue.
The world needs more Luigi's to fix this.
Most people know,
they have reached the end of the road with their finances. With that said, they can't accept reality,
that they are broke..
This is a big problem for most.
If you're only making $14K a year you pay no income taxes, you're eligible for SNAP, Medicaid and housing assistance. The majority of cities and states have additional aid available for low income seniors and people with disabilities.
yup thats y ppl r quitin gettin rid all and on wellfare all frree
18 percent of people don't have a hundred dollars saved up for an emergency!
Sarcasm is good for the soul
Is any of them single hot woman?
Much higher tha that
That was my goal was to save more this year instead of spending on eating out all the time. I actually ended up saving my last check at the end of the year which never happens.
I'm sure it varies, but for my wife and me it's more than that. Our rent's gone up an extra $800 per month alone. Some of the grocery items have doubled in price. Gas is more. Utilities are more. Insurance is more. Streaming services more. And it feels like I can't cut expenses fast enough.
This is being done all by design.
Dave Ramsey said don't go into debt...period!!!
Were it not for Credit Cards the US Economy would be in a Depression .
Wrong. Credit cards don't cause a depression.
And it is gonna get worst!😮
It will get worse.
Seek cover in Jesus Christ ✝️🕊🙏
when biden and dems r out 4 good then ok
The reason the cost of living is through the roof is due to greed. Greed is the love of money. The love of money is root of all evil. Anyone see the problem.
My mom stole my money to pay her department store credit card bill. Narcissist!
That was a shocking bit of news. I never thought that adults would consider stealing their child's identity for credit.
When reagan de-regulated the shark loan inds. (payday loans ...) is when that hamster wheel started this is nothing new!
I would buy a shed and convert it to a place to live in before I went to credit.
First of all live within your means just because you're American doesn't mean you need to gorge on as much food as possible and buy all the extravagant crap that's available that's available... This is why the entertainment exists to dangle things in front of your face and make you concentrate on things that are not important in life such as wealth.
I "un-retired" since I missed the fun aspects of the job, and I was being actively "head-hunted" to return to work (after accepting voluntary redundancy). Working part time, so I get all the Patient interaction benefits without the bureaucratic burden of a full-time position.
Thanks for sharing
Our government did this don’t forget.
The Gov let it happen, they not the root cause.
@ oh they didn’t spend us in to a unrecoverable debt?seriously?
Covid vaxxxxxx poison and fascist pushers...?....near neighbor looters..dod?
@@daleolson3506 They spent the country into unrecoverable debt, our personal debt is our own doing on top of that.
No people allowed it to happen. Civil War is on its way 😮
No credit card here living surviving on Ssdi 15 years paying house 4 vehicles at my driveway replaced my furn AC this last spring
Understand groceries ridiculous new cars too high and most non serviceable by common combustion mechanic
Only plastic I have is the FORCED DEBIT card at bank either take it or lose bank access 10 years ago and even my SSDI won't " cut" a check anymore
It's such a weird world we live in to see consumer expenditures in government data continue to rise and keeping the economy afloat, yet then also reports like this where it paints such a negative light on the consumer situation
My inflation rate is
40%+. Actually, my 8 credit cards are saving me from getting homeless. Plus I'm getting more offers for more cards everyday in the mail. 37% interest.
Yikes!
I cringe and worry about if I can afford something before I actually buy it rather than worry about how I'm going to pay for it after selfishly buying it without thinking
Almost half their check going towards credit card? The more that I listen, the more that I appreciate being single and no children.
So what is your purpose in life 😂😂😂
@@theprophet489 - your purpose in life is to laugh at serious situations. ehhh?
Right. That was the life I wanted but I made a lot of bad decisions in my 20's. Being paying for it literally for 30 years.
It’s things like this make me glad I don’t have good credit
Having the least $4,000 without investing it is just useless and a waste, how do banks grow? They continually invest with our money we saved with them to grow more than we all.
Truly if you don't multiply your income, you might end up regretting everything sincerely.
As an American citizen I feel this administration is treating us like a mushroom I'll advice you invest your money it works for you and help you earn more money.
It’s to the point I don’t even care anymore about credit. I’m just saving and investing while a pay off the card. Americans shouldn’t be living like this l, hell no person should be living like this.
Inflation went up almost 3% in November. 🤷♂️🤦♂️
Thank you to “The Voice” for another informative video. 👈😀👍
When Our cards hit 30%? My Wife & I Stopped paying. Default is 28% W-T-F!!!
The Bible speaks about this. I am not surprised 😮. I have Faith in King Jesus Christ our Lord and Savior 🙏
The New World 🌎 Order has implemented this Year's ago. Just be grateful and thankful for what you have.
Eat Rice and beans, Oatmeal and potato soup. And more vegetables
god botherer
Jesus and potato soup ❤❤❤❤
I'm not saying things aren't more expensive, but people spend a lot on frivolous stuff as well. I'm pretty sure most people have streaming services they can do without. Maybe don't buy ultra processed foods. Seen people complain about geocery prices, but their carts are full of snacks, cereal, sodas, etc. Groceries are more expensive today, no question, but it's the ultra processed stuff that had the highest increase in cost. Door dashing, eating out multiple times a week or even per day. It's not the big purchases that are killing us. It's the micro purchases that add up unknowingly.
Love this. Thankyou.
Credit scoring is bullshit. Needs a reset of some kind
Sixteen Tons 🎶🇺🇲
I was born one mornin' when the sun didn't shine
I picked up my shovel and I walked to the mine
I loaded Sixteen Tons of number nine coal
And the straw boss said, "Well, a-bless my soul"
You load Sixteen Tons; what do you get?
Another day older and deeper in debt.
St. Peter, don't you call me 'cause I can't go...
I owe my soul to the company store
🎶🎶🎶🥺
Sixteen Tons
Tennessee Ernie Ford
To keep my car I had to charge over $5000 for repairs...
cheeper to walk
Nevermind the credit thing , we're broke without it , it's hard enough without it , this is why years back i gave up on those , it cut maybe a good 30% of stress from my life ...👍👍👍✔️
Ha… I was born just so my parents could name me after my stepdad and so they can steal my identity.
I found out at 18 and they said, ‘we thought you’d never find out’. WTF?
They had defaulted on cars, homes, furniture, tractors, semis, and the IRS.
I had to eventually change my full name because they couldn’t stop themselves, I mean just wouldn’t..
My credit file was a sheat hole for years until I did that, then they threw my pictures in their trash can because they couldn’t do it anymore.. ha..!
I just disavow knowing them and that works for me..
I'm so sad for your experience. Sounds like your birthers were simply breeders not parents and narcissists into the bargain. Rise up! The best revenge is living well.
Sorry for you your advantage...you have your hole life to live without being dishonest like them and getting CCR depts. Wish you luck you will succeed😊
Finally for the first time since 1987 I don’t have a credit card. Inflation and health, car, home insurances are raising their costs dramatically. Medical costs through the roof! But a credit card at 29.9 that’s plain greed! Every time I think I am ahead; think again.
29? One of ours is at 34 percent now. It started out as 12 percent a decade ago.
So - even though my basic food and living costs have increased by $300/month over last year - Social Security is increasing my monthly check by $60/mo. Seniors will all be relocating to SIDEWALKS soon. SHAME! FDR is spinning in his grave.
Now people understand why some of us go through therapy and leak our own information. I refused to take advantage of my children. But I got punished for doing that when I was targeted and harassed so much I did it myself. You don’t think your mindset affects the economy you’re wrong. This is a HUGE problem these days. I’ll have to probably figure out what my kids did after people are done playing house with them. I can’t even work because of this. They have jobs though thanks to me. I haven’t had an income for over 2 years because of this. It’s going to be a big deal.
My hamster wheel broke off. Can't afford to fix it so I sit my broken recliner listening to my neighbors hamster wheel thru the walls
Not me. I live on SS after divorce, housing collapse, disability, medical debt. So I moved to Thailand in 2020 and now I have so much disposable income I paid off all my $20,000 debt. Now I have that much more disposable income.
Credit card debt is insane
The American Dream is to be in ever ending debt😅😅😅
Thank your elected officials and big companies!
Should have listened to the preppers. 😢
Not only are we spending more due to inflation, but many of us are LOSING income. My small business is losing roughly 25% in sales each month compared to the same time last year. It is getting rough out there! We keep cutting out any and all extras.
Even wealthy people are just getting by, goodbye middle class 😢
Middle class is cooked man. America future looking bleak.
Use credit card ONLY when you can pay off the whole owed amount each time when the bill comes. Don't ever pay any interest to the credit card operator, ever !!
CC companies are predators!
How can they charge such high interest rates? Because the financial regulators are on the take!
I made it in good time
I am living at the bare minimum. Making 172K a year, and saving anything between 4-7K a month.Paid everything cash, no credit cards.
$300+ rent increases... apt. rent rising across the USA for 2025
If you are renting an apartment and your lease is up soon; expect to see a big increase in your rental bill...
WATE6/Tennessee December 2024
🇺🇲🤦