consumer spending

Economists believe that inflation has peaked. Main Street braces for more pain

Economists believe that inflation has peaked. Main Street braces for more pain

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Shoppers are seen inside a Kroger supermarket on October 14, 2022 in Atlanta, Georgia. Elie Nouvelage | AFP | Getty Images More and more stock market participants and among the ranks of professional economists have rallied around the view that inflation has either peaked or is already in decline, but Main Street small business owners …

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Buyers dip into their savings and go into debt. This could cause a holiday hangover | CNN Business

Buyers dip into their savings and go into debt. This could cause a holiday hangover | CNN Business

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New York CNN — Despite high inflation and recession fears, the holiday shopping season seems to be off to a good start. Black Friday and Cyber ​​Monday sales were strong as Americans were lured by deep discounts. Although consumer spending is slowing, it remains surprisingly resilient. The problem, however, is that many Americans’ paychecks are …

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Here are 4 money moves you should make to set yourself up for financial success in 2023

Here are 4 money moves you should make to set yourself up for financial success in 2023

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As the end of the year approaches, it may be time to reassess your finances. This year has been marked by record inflation and multiple interest rate hikes. As the Fed attempts to rein in inflation by raising interest rates, there is a strong possibility that the economy will teeter into recession in the coming …

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401(k) 'hardship' withdrawals hit record high, Vanguard says — another sign households are feeling the pinch of inflation

401(k) ‘hardship’ withdrawals hit record high, Vanguard says — another sign households are feeling the pinch of inflation

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Thomas Barwick | Stone | Getty Images The share of retirement savers who withdrew money from a 401(k) plan to cover financial hardship hit a record high in October, according to data from the Vanguard Group. This dynamic – when combined with other factors such as rapidly rising credit card balances and falling personal savings …

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Consumers are starting to act as if recession is imminent

Consumers are starting to act as if recession is imminent

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Text size Consumer dissatisfaction is worse among households earning less than $50,000 a year, writes Dana M. Peterson. Frederic J. Brown/AFP/Getty Images About the Author: Dana M. Peterson is chief economist at the Conference Board. Consumers sense that a recession is imminent and are beginning to behave accordingly. They become more and more unhappy by …

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How two teachers killed a $53,000 debt monster in 3 years

How two teachers killed a $53,000 debt monster in 3 years

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This article is reproduced with permission from NerdWallet. In this series, NerdWallet sheds light on people’s debt repayment journeys. This month, Jae Bratton shares how she and her husband focused on erasing debt, fueled by the hope of starting a family. My story of letting go of over $53,046 in debt over two teachers’ salaries …

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How to know you're on the right track with your retirement savings, according to a financial expert

How to know you’re on the right track with your retirement savings, according to a financial expert

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Investing money for retirement can be daunting, especially since it’s common for future retirees to wonder if they’ll have enough money to see them through their golden years. There are a few rules of thumb to help you determine where you are at with retirement savings. An analysis found that you would need to have …

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