Guest
Visit and use promo code HMW to save 20% off as many orders as you want. You can also share with friends and family to share savings. We are happy to be partnering with ., The ultimate underwear company. Not only do they offer superfast shipping, and excellent quality product with a one year warranty, they also have white glove customer service. Just contact@ for superfast, super excellent service. Sign up for my FREE newsletter! - Support me on Patreon - ----- My Other Channel: @HowHistoryWorks Edited By: Andrew Gonzales Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images For sponsorship inquiries, please contact sponsors@ Sign up for my newsletter 👈 All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. #business #finance #realestate ------ More people than ever are afraid they are going to lose their job at some point this year, and that’s only for the people who are lucky enough to already have a job! New entrants into the job market are struggling to get into roles that were desperate for workers just three years ago. If people DO lose their jobs, they have record low savings to support themselves. So then, why are people spending more than ever? The financial situation of the average American HAS gotten worse in the past twelve months. According to data from Equifax and the New York Fed money that peoples saved during the pandemic is gone and, in its place, people are using credit cards and short term loans to cover expenses. Buying or renting a house is more unaffordable than every due to a trio of low availability, high mortgage rates, and high prices AND with an election on the horizon people are worried that things will only get worse when appeasing voters is no longer top priority. But when everything is a crisis, nothing is… People have seen the headlines, and they just don’t care anymore. Crisis fatigue is a real problem and it’s costing you thousands of dollars every year (whether you realize it or not) for three different reasons. A survey of two thousand [2,000] young Americans conducted by Harris Poll for USA today found that sixty five percent [65%] of Gen Zers and SEVENTY FOUR PERCENT [74%] of millennials believe that they are starting further behind financially than earlier generations… AND according to a poll run by the New York Post one in five [1/5] Americans now believe they will never be able to afford a home. More Americans over the age of seventy five [75] are working than ever according to data from the Labor Department these were the people that had an opportunity to buy homes before they were several multiples of the average income, so if they couldn’t escape the rat race, what hope do you have? When people resign themselves to never achieving their financial goals then there is less pressure to avoid taking on bad debt, spending recklessly or putting off enjoyment. According to the same New York Post Survey FORTY PERCENT [40%] of young Americans surveyed said they think that hitting the jackpot was the best chance they had of ever being able to afford a home. Lottery companies, online casinos, and get rich quick gurus have tapped into this desperation as an effective marketing strategy to put those that fall behind… even further behind… Giving up and being financially irresponsible has in a way become something that is highly fashionable. Trends follow young people and since young people are giving up on long term financial goals in favor of short-term experiences, that has become the new normal. Luxury fashion is marketed as a way for affluent people to show off their means, but according to a survey by Bain Consulting the largest group of customers shopping at luxury clothing stores are millennials followed by GenZ’s. The people who have the LEAST financial security are spending the MOST to try and fake the appearance of doing well that they will never be able to really achieve. Young people with basic jobs and no assets wearing LV and Supreme are cosplaying as people with financial security when all they are really doing is hurting their financial situation even more. The terrible reality is that your life probably won’t be as comfortable as the lives of older generations and if that makes you want to stop playing a rigged game that’s fair, but it’s only going to make your financial situation worse… So it’s time to learn How Money Works to find out how financial crisis fatigue is costing you what’s left of your financial future…
