How to Build Financial Security During Economic Crisis

The reality is, money plays an integral part in our daily lives. You can’t ignore it, you can’t pretend it isn’t important, you can’t run from it, or tell yourself you won’t let it take precedence over this or that. If you want to take part in this society, you have to understand all things money. If you don’t, you will simply be trapped in a spiral of debt, poverty, or just making it by. You will be controlled by money. So many find themselves in this situation currently. There is no denying that wallets are stressed. Record level inflation figures have not settled, pushing Americans to the brink. We are in an economic crisis. In this article, I will detail the steps you can take to either maintain or become financially stable during times like these.

But first, I want to give you some figures. Just recently, the Federal Reserve Bank of New York released a report showing an increase in total household debt in the first quarter of 2023. American households carry a total of $17 trillion in debt- a record high. But I bet you are wondering how that breaks down per family. The average household debt is $101,915 as of the end of 2022. Mortgage, auto loan, personal loan, and credit card debt are all up from 2020 figures. So, you aren’t alone. It truly is a crisis. Do you want to know the difference between you and them? You have made the decision to educate…