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Friday, April 4, 2014

Is being broke your new normal?

Are you settling for less money in your account and less freedom? Be honest with yourself, earning less and having less than you deserve is a form of being broke.

The reality is too many people are making sense of not having enough. Most people are better at getting rid of money than getting money. I don’t want this to happen to you.
Living paycheck-to-paycheck has become even more common in this economy because most people are operating with bad information. Too many people earn too little and spend too much.
It is no wonder to me that people are having such a hard time. The media twists the public so hard that most people don’t know what to do, so they do nothing. Check this recent data out from The Wall Street Journal.
Consumer confidence jumped this March as people become more upbeat about future job prospects. The Conference Board Consumer Confidence Index rose to 82.3, up from 78.3 in February. More recently the index had dropped moderately in February after increases in January and December. This is the highest reading since January 2008.
The world was about to come to an end in 2008! This is supposed to suggest certainty but it’s a weak comparison, giving you a false sense of security and a green light to spend.
Kit Yarrow, a professor of marketing at Golden Gate University in San Francisco and author of a new book, Decoding the New Consumer Mind interviewed thousands of consumers about their retail habits and says, “Consumers are indicating that uncertainty is the new normal, and they’re demonstrating resilience.” She goes on to suggest that despite uncertainty people are willing to spend money.
This is a good sign for sellers, entrepreneurs and hustlers but very bad news for consumers. This will prove to be a terrible time for those that lack discipline with spending money and come up short on producing it.

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