ilmscore | Are Americans ACTUALLY Running Out Of Money?

Are Americans ACTUALLY Running Out Of Money?

Predictions from this Video

Total: 10
Correct: 0
Incorrect: 0
Pending: 10
Unrated: 0
Prediction
Topic
Status
US consumers are saving less money in 2024 than in the previous decade.
"Americans are saving the least amount of money that we have seen in the last decade."
US Consumer Savings
Pending
US consumer spending grew at a 2.9% annual rate last quarter, revised up from an initial estimate of 2.3%.
"Consumer spending Rose at a 2.9% annual rate last quarter that's up from the 2.3% in the government's initial estimate"
US Consumer Spending
Pending
A growing number of people are maxing out their credit cards, raising questions about how they are continuing to afford their spending.
"we're seeing a growing number of people also max out their credit cards which might have you wondering how do people keep affording all their spending"
Consumer Spending on Credit
Pending
In the last 6-9 months, with falling mortgage rates and rising home values, many homeowners have refinanced to tap into their home equity and gain cash.
"over the last 6 to 9 months have mortgage rates have begun to fall many people have used this as an opportunity to pull out some cash out of their homes through a refinance because mortgage rates have fallen and home values have gone up so it's a way for people to tap into this equity and have some more cash in their pockets today"
Home Equity Tapping
Pending
Consumer spending increased at a 2.9% annual rate last quarter, which is an upward revision from the initial estimate of 2.3%.
"Consumer spending Rose at a 2.9% annual rate last quarter that's up from the 2.3% in the government's initial estimate"
Consumer Spending Growth
Pending
The U.S. government spent $5.6 trillion in fiscal year 2024.
"the United States government has spent $5.6 trillion in the fiscal year 2024 to ensure the well-being of the people inside the United States"
Government Spending
Pending
The job market is currently cooling, with a steady decrease in wage growth observed.
"we're seeing a cooling happen in the job market right now and along with that we've also been seeing wage growth steadily start to decrease"
Job Market Cooling
Pending
It's important to have a system where a portion of all income earned is consistently invested and saved.
"you want to have some sort of system that would no matter how much money you make you're always investing some money you're always saving some money"
Cash Savings for Investment
Pending
For every dollar earned, a maximum of 75% can be spent, with a minimum of 15% invested and 10% saved.
"for every dollar that you earn from here on out the most that you can spend is 75 the minimum that you invest is 15 cents and the minimum that you save is 10 cents"
The 75/15/10 Spending Rule
Pending
When investing, identify industries that are attracting capital and pay close attention to those financial trends.
"find the industries where the money is moving into pay attention to those financial Trends"
Financial Trends in Investment
Pending