One nation under stress
Americans don't seem too happy.
Hello Financial Healers,
According to a recent poll, Americans aren’t happy. Issues like the economy, immigration, and inflation are causing lots of stress. Here’s a breakdown of the core problems:
I’m sure each of you have felt the economic pressure. Several friends in Southern California, who were long hold outs, are finally moving because the cost of living is so high.
The US debt ceiling
As anticipated, the White House and Speaker reached a debt ceiling agreement. It passed the House with bipartisan support, and is expected to get through the Senate as early as Thursday evening.
Credit cards for all
In other news, more and more US households are turning to credit cards to survive. Bloomberg claims, “[In 2023]… more than 25 million households… used credit cards or obtained a loan to meet spending needs.”
Typically, consumers pay off their credit cards in the first 3 months of the year, but not in 2023. Credit card debt has flatlined, which means US households are resorting to credit cards for needs like gas and groceries.
What to do?
If you’ve followed me for some time, you already know:
1. Control your spending.
2. Pay off debt.
3. Build savings.
God is bigger than any poor economic policy. Stay close to His voice. Simplify your life. Manage your appetite for consumption. If the economy gets worse, you’ll be making decisions from a place of strength.
P.S: If you need to make a plan to save money and kill debt, schedule a Financial Healing Breakthrough Session with me. I look forward to helping you.
God bless your Prosperous Soul,
Stephen K. De Silva
About the Author: Stephen K. De Silva is an author, speaker, and financial coach. From 1995 until 2017, he served as the CFO of Bethel Church, and a member of the senior leadership team. Stephen’s blend of experience, training, and gifting make him a pioneer in the subject of money. You can reach Stephen at hello@stephenkdesilva.com