First Friday: The Strange Economics of Feeling Poor While Spending More Description:

Afford Anything

Paula Pant | Cumulus Podcast Network

Investing, Business, Entrepreneurship

4.6 • 3.4K Ratings

🗓️ 5 December 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

#666: In this First Friday economic update, we explore the paradox defining our current economy: record-breaking retail numbers alongside plummeting consumer confidence. In this First Friday economic update, we explore the paradox defining our current economy: we're spending more than ever, while feeling worse about money than we have in years. The Bureau of Labor Statistics hasn't released jobs data for two consecutive months. The Federal Reserve must make a critical interest rate decision flying blind. Meanwhile, private sector data reveals troubling trends. Small businesses are hemorrhaging jobs while discount chains like Dollar General see their stock prices soar 44%. Americans are spending differently this holiday season. They're shopping earlier, using AI to find deals, and turning to buy-now-pay-later options. Households are spending less than last year, yet total spending increases because more people are participating. This K-shaped recovery benefits luxury retailers and bargain stores while crushing the middle market. We also cover essential year-end financial moves. From maximizing retirement contributions to tax-loss harvesting strategies, we help you navigate your personal finances amid economic uncertainty. The disconnect between what the numbers say – and how people feel – reveals deeper truths about an economy that's technically growing while leaving many behind. Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths. (0:00) Spotify Wrapped and podcast listener data (2:05) Jobs report missing, BLS delays (5:01) ADP shows 32,000 job losses (8:00) Youth unemployment over 10% (10:32) Fed meeting without data (12:24) Mortgage rates might drop below 6% (20:06) Holiday spending hits $1 trillion (23:43) Consumers spend less individually (26:36) Discount stores outperform market (28:29) Shopping starts in October now (30:22) AI helps holiday shopping (36:09) Giving Tuesday up 11% (38:28) Year-end money moves (45:00) Charity and gift tax limits Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the last first Friday of 2025. On this show, we either interview guests or we answer
0:06.6	questions from you, but there's one exception, and that's the first Friday of every month.
0:11.1	When we pause to take a look at the economy and the world around us to understand money at the
0:15.4	macro level, welcome to the December 2025 first Friday episode of the Afford Anything podcast.
0:22.1	This is the show that knows you can afford anything, not everything, and we cover five pillars,
0:25.5	financial psychology, increasing your income, investing, real estate, and entrepreneurship.
0:29.6	I'm your host, Paula Pan.
0:31.4	Let's kick off the last first Friday of the year with the topic that's on everyone's mind, Spotify Rapt.
0:39.6	That's right, Spotify Rapt is out, and there are two shocking revelations.
0:44.5	One is that they will guess your age based on the type of music you listen to,
0:48.6	which is how I know that I have the musical tastes of a 70-year-old.
0:53.4	But more applicable to this podcast, Spotify also does
0:56.8	a wrapped for podcasters in which we can see what other podcasts our audience listens to. So if you're
1:03.8	part of the Afford Anything community, which of course you are, what other podcasts do your
1:08.4	fellow community members enjoy? And the results actually surprise me.
1:13.3	Steve, can we go, can we get a drum roll?
1:15.5	Because we're going to go from five to one in reverse order of the top five shows that people
1:21.3	who listen to afford anything also listen to.
1:24.5	Number five, the Dave Ramsey show.
1:31.7	Number four, money for couples with Ramit Seathy. Number three,
1:40.3	choose FI. Number two, Diary of the CEO with Stephen Bartlett. And the number one podcast,
1:44.6	listened to by members of the Afford Anything community. Extra drum roll, please.
	...

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