4.2 • 3.5K Ratings
🗓️ 5 September 2023
⏱️ 49 minutes
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Even though the economy is doing better, few Americans say they’re better off financially this year than they were last year. So what's behind the pessimism Americans have about their own financial lives?
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0:00.0 | This is on point, I'm Magna Chakrabardi, and here's the question for today. |
0:04.7 | Do you feel financially better off this year than you did last year? |
0:09.7 | My answer is a resounding no. |
0:15.1 | I do not feel better about my financial situation than I did a year ago. |
0:19.2 | Largely due to cost of housing in my area of Madison, Wisconsin, many places |
0:24.9 | require you to have triple income compared to what the rent is. |
0:29.3 | So if rent was 1,000, you need to make $3,000 a month. |
0:32.8 | Our daycare just raised rates 15%. |
0:37.3 | That's 1.5%. |
0:39.0 | So I do not feel better off financially this year than it did last year, |
0:44.6 | even though I got to raise and, you know, the architecture firm that I work at is doing |
0:49.2 | pretty well, but that's basically a relevant to my financial feelings, |
0:54.0 | which all come down to student loan payments starting again. |
0:59.9 | Yes, I would say that I do feel better off financially more so now than a year ago. |
1:04.7 | Prices have come down particularly in areas like gasoline. |
1:09.2 | We are no longer heading into a recession. |
1:12.0 | Given the rip precautions of the pandemic, which was the huge impact on our economy |
1:16.3 | from loss of jobs to supply chain issues worldwide and compared to other |
1:21.8 | countries, I firmly believe I am better off than what we could have been. |
1:26.2 | The boots on the ground experiences is that we all watched inflation. |
1:30.1 | Sores high is 9% last year. |
1:32.2 | And then we're supposed to feel like it being only 3% is good news. |
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