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People Less Worried About Inflation

Things will be okay.

The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the July 2022 Survey of Consumer Expectations, which shows substantial declines in short-, medium- and longer-term inflation expectations. Expectations about year-ahead price increases for gas and food fell sharply. Home price growth expectations and year-ahead spending growth expectations continued to pull back from …

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Wave Goodbye to the Middle Class

Wave Goodbye to the Middle Class

In recent years, the Brooking Institution published a series of papers as part of its Future of the Middle Class Initiative. In a 2020 paper, Brookings defined the Middle Class as the middle 60 percent of the household income distribution–“not poor, but not prosperous either.” How much income must a family have to be considered middle …

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Majority of People You Know Are Living Paycheck-to-Paycheck

Budgets Sucks

New findings from LendingClub paint a picture of people sliding back into just getting by financially. 61% or 203 Million Americans are Living Paycheck To Paycheck, Up from 55% a Year Ago. At the same time, the average savings amount dropped to $10,757 in June 2022. People are wandering more towards the financial edge despite …

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Dark Clouds Forming in Debt Crystal Ball – Practice Safe Debt

It is not looking good for people and their personal finances. But, from the data released by the Federal Reserve, it certainly appears the pent-up demand for saving and spending has exploded following the perceived end of the coronavirus pandemic. Saving rates went way up during the pandemic. Between increased benefits and reduced expenses, people …

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Interest Rates and Credit Card Debt is Rising. Here is What You Need to Watch Out For

Get Out of Debt Guy Podcast

Today, my concern for your finances is over credit card balances and interest rates rising. People are not prepared for what is coming, and I want you to be ready. You can subscribe to my podcast on any of these sites below.                    The latest figures are out from the Federal Reserve report on consumer …

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Who Actually Got Covid Forbearance Relief

By Rajashri Chakrabarti, Jessica Lu, Joelle Scally, and Wilbert van der Klaauw Forbearance on debt repayment was a key provision of the CARES Act, legislation intended to combat the widespread economic losses stemming from the COVID-19 pandemic. This pause on required payments for federally guaranteed mortgages and student loans has provided temporary relief to those …

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