roughly 331 million Americans are about to enter into a financial crisis here in the near future experts are saying that this crisis can actually come up at any time and many people are not prepared now I’m going to break down what is happening we’re going to talk about some
reports some surveys that have just come out and why millions and millions of Americans are ill prepared for the upcoming economy so I’ll break all this down in just a moment but all I ask is one thing takes two seconds go ahead hit that like button if you enjoy these daily updates and now
let’s begin so first I want to give you some stats did you know that a little bit over 75% of Americans cannot afford to pay their monthly bills this includes things like a car payment utility payments your rent your mortgage Right medical bills college Debt and so on
can’t afford it it’s too expensive but shouldn’t they have known that yeah they people should have known that your Debts will continue to increase the more you use a Credit card the more you decide I need to go out and eat but don’t have any
money so I’m going to put it on my Credit card I’m going to go to college I’m going to get a car Loan I’m going to buy a house all these things they continue to add up but look at this 63% of employees are unable to cover a $500 emergency
expense it says down here in the key points a majority of American workers can’t afford a $500 emergency expense 76% of employees don’t have enough Savings to cover one month of their expenses and over onethird of employees earning over $100,000 per year live paycheck
to paycheck how concerning is that I’ve talked to many people and of everybody that I’ve talked to the majority say the same thing that if I made over $100,000 per year I wouldn’t live paycheck to paycheck I would have so much in Savings what’s the
difference here’s the difference and this is something that we’ve experienced many times over the past you know several decades but as people and employees make more money they decide they can own a nicer car a bigger home they can take more vacations as you buy a nicer car it increases
your expenses your Debt goes up your monthly payments increase as you get a bigger home it usually costs more money meaning your monthly payment goes up what about planning and taking more vacations yeah that means your expenses throughout the year go up so $100,000 may seem like a
lot of money but it you will blow through it very quickly if you are not prepared for it I want to show you something also because again 63% of employees are unable to cover a $500 emergency expense well it doesn’t stop there it gets worse look at this number it says 44% of Americans
can’t pay an unexpected $11,000 expense from Savings says we’re just not wired to save the American people are wired to spend money this is what the bid Administration has been wanting us to do continue to spend money fuel the economy continue to buy furniture and
electronics and cars and homes continue to pay for college if we do all these things the economy will be booming but the American people will struggle now here’s where things are starting to take a turn and I really want to be clear on this the American people cannot afford a $1,000 expense
can’t afford you know 63% can’t afford a uh a $500 uh emergency expense okay that was just from this month from a week ago this number right here 44% of Americans can’t pay an unexpected $11,000 expense this was from January okay things are getting worse so less people can afford
a higher uh expense obviously that makes sense but now we’re starting to see more and more people can’t afford a $500 payment keep in mind that 63% that was closer to 50% about 6 months ago yeah it’s getting worse but here’s what’s happening and this is why so many
people are going to struggle what’s happening right now is US households are now starting to cut back on luxuries luxuries in the beginning of 2024 were considered vacations were considered uh you know luxury vehicles that was a luxury now luxuries are kind of changing we’re changing
the definition of a luxury before a luxury was something that you almost dreamed of right something that you had to have money or else you couldn’t get it luxuries were things like you know fancy cars SUVs right sports cars a second car a second home right additional vacation days those are
luxuries we’re changing the definition of luxuries luxuries now according to reports eating out out is a luxury okay eating out saving money is a luxury a ride share service no matter where you’re at is a luxury because when you don’t have money you don’t call on Uber and
lift no you hike from one spot to the next you walk that’s what you do another luxury gym memberships people say you don’t need a gym membership if you want to stay healthy eat healthy walk around the block you’ll be good what about this streaming services you know your Netflix
your Hulu your Amazon Prime your Paramount plus all those those are luxury services that experts say you don’t need those so think about this for a second the American people can not afford to pay for a $500 emergency expense 63% can’t afford it but here’s what’s so
troubling right now they say that if you are not in the top 1% of Americans which means you make over $75,000 per year if you’re not in the top 1% you are headed towards a financial crisis a catastrophe this is about to happen and experts say we don’t know when we have no clue when all
these uh lenders are going to come calling and want you to make payments we don’t know when all these you know businesses are going to go under and so your Income will be gone we have no clue many people are saying that they are strategically missing payments on their car on
Credit cards okay now you got to make it on your education if you have any student Debt you got to start paying that so people are strategically missing payments on one thing every single month it’s just not the same thing if you miss your car payment
multiple multiple months in a row they’re going to come and repossess it but if you miss it one month and then the next month you make it up and then you miss another payment on a Credit card or on your uh you don’t miss your mortgage payment don’t I don’t
recommend you miss any payment but you go and miss a payment on your rent or your mortgage well that will put you in Jeopardy of potentially losing your home losing your place to live so people are doing this and they they strategic planning but it it is what it is we are entering this financial
crisis and experts say it’s going to pop up on us at any time we just don’t know when so we’ll see what happens moving forward the one thing I can tell you is I will be here every step of the way and I’ll fill you in on all the latest news and updates but as of today that is
what we know so again thank you guys for watching consider subscribing and I’ll see you guys on the next one
CashNews, your go-to portal for financial news and insights.
People better start buying precious metals instead of buying stuff.
This is all the Democrat's fault.
Good,! im not on my own, God Bless all,, How could we know our own government would screw us?
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring…managed to grow a nest egg of around 2.1BTC to a decent 15B TC in the space of a few weeks… I'm especially grateful to Seren Wintersun, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..
The solution give more money to foreign nations ! 🥸👍
YES I KNOW THIS!!! BUT THANKS!!!!😊
Call on the Lord Jesus Christ to save your soul. He did pay for your sins on the cross. Then after He bled and died on that cross, He was buried three days and then rose again from the dead. If you believe this simple truth, then call on Him and your soul will be saved from the wages of sin, which is to burn in hell for eternity, and you will live with Jesus for eternity instead. (KJB) Romans 3:23 For all have sinned, and come short of the glory of God; ****************
The insurance companies keep raising their rates too. Florida for example, property insurance will triple thanks to the hurricanes. Inflation is outpacing savings interest, so it's slowly draining. Is it better to be broke when the dollar collapses or have all of your savings disappear?
We're already there!!! Truckers are losing there trucks.
Had my bicycle stolen.
The Gospel of Salvation
Romans 1:16: "For I am not ashamed of the gospel, for it is the power of God for salvation to everyone who believes, to the Jew first and also to the Greek."
1 Corinthians 1:18: "For the preaching of the cross is to them that perish foolishness; but unto us which are saved it is the power of God."
The only Gospel that can save your soul today is the one Paul preached:
1 Corinthians 15:1-4: "Moreover, brethren, I declare unto you the gospel which I preached unto you, which also you have received, and wherein you stand, by which also you are saved if ye keep in memory what I preached unto you, unless ye have believed in vain. For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures, and that He was buried, and that He rose again the third day according to the scriptures."
Ephesians 2:8-9: "For by grace, you have been saved through faith. And this is not your own doing; it is the gift of God, not a result of works, so that no one may boast."
Salvation is not based on human traditions, rituals, or works, but on the finished work of Christ on the cross. He died for our sins, was buried, and rose again on the third day (1 Corinthians 15:1-4).
Ephesians 1:13-14: "In him you also, when you heard the word of truth, the gospel of your salvation, and believed in him, were sealed with the promised Holy Spirit, who is the guarantee of our inheritance until we acquire possession of it, to the praise of his glory."
Salvation is by believing the Gospel of Jesus Christ's death, burial, and resurrection. Any addition to this gospel, such as requiring works, rituals, or following the law, is not the true gospel and should be rejected (Galatians 1:1-12).
Stand firm in the true gospel and rejoice in the salvation given by grace through faith in Jesus Christ.
Fn dems
Wow that many people brought the Clinton,Obama,Biden fake out 😮
Now the big companies are trying to shore up their profits on the backs of their employees by firing half of them and doubling up on the work burden on those who are left. And they are not even ashamed to admit it.
top 1% is 75k/yr? Where did you even get that stat? 75k/yr is barely middle class right now. You're literally saying almost the entirety of the middle class is the upper 1% which is complete nonsense.
I live within my means and when that goes down so does my standard of living. I miss the old days when I did have lots of disposable income. I would love to have a new truck but they cost far too much for me to even consider such a thing.
Yeah, I was thinking about money again and financing. It's starting to get intrusive. I mean, not for the wealthy of course. If I did this, if I did that, the economy would be booming, but Americans will struggle to take the risk. They'll fail won't they? They can't do it anymore.
Over 100k living paycheck to paycheck? Sounds like bad spending habits.
This much i know that if mass repossessions begin including everything from cars to homes these lenders will have no mercy!
Good!
Wow. No. Let. Up. In. Sight. I. Just. Want. A. Simple. Life
Me and my husband are minimalist,
But your right we can't save.
We don't eat out, don't go to the movies, don't drink and we're still poor😅. My husband has gone 18yrs old all the way to 40 without health insurance.
Only ones we have is vision and dentist and we still can't save. 😮
Would be nice to enjoy a vacation.
But. It's. There. Vote at. Work
So, 99.10% of USA population… That is super concerning!
The country must be in horrendous shape if $75K is in the one percentile. I thought $75 would most likely be scraping at the bottom of the middle class now.
The American people have been living high on the hogg for decades and this great reset is gonna decimate anyone without assets that create wealth😂
lol.. nothing is happening the economy is fine . The dollar is not going anywhere . 3/4 of the world would be fucked if the dollar or America had some big crash . so there is nothing to worry about
Fantastic video🔥🔥! I have incurred so much losses trading on my own….I trade well on demo but I think the real market is manipulated…. Can anyone help me out or at least tell me what I'm doing wrong??
Yeah because the whole financial system is changing. Gold backed currency. Iraq dinar, Indonesia rupiah. Vietnamese Dong.
That’s more than the adult population 🤨
Mr. Obvious
Americans are toast because they are too busy loving yellow school buses. Canadians love yellow school buses too. ❤
Math might be a little off. 2022 population of the USA is 333.3Million
BUT GOD
😊😊😊😊😊😊
“The just shall live by faith”
When the SHTF God will provide supernaturally from sources
America people awake America is in crisis!!!!! Democrats don’t care about America people!!!! Everything is so high!!!! Trump and Vance 2024 !!!!Let’s get Trump and Vance in White House !!!!! Go red Go red go red!!!!!
People don't know the difference between wants and needs 😊
PROVE YOUR COMMENT WHICH YOU HAVE NOT. This is very old news. There are 340+ million people in the US and you are saying 331??? You counting babies? Children? DO…. YOUR…. RESEARCH…
Grateful I have just enough to make mortgage payment, utilities and food. Vacation outings and extras are no more.
experts say you don't need streaming services like netflix!😮Netflix! could we get by without experts? we are way too stupid.