Economics Archives - Page 2 of 21

5 Common Things Middle-Class People Shouldn’t Buy Right Now Due to Inflation

In today’s economic climate, inflation continues to impact middle-class households across America. While some expenses are unavoidable, certain purchases deserve careful consideration before committing your hard-earned dollars. Let’s explore five significant purchases you might want to postpone or approach differently in the current economic environment due to the elevated prices over the past four years. […]

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10 Reasons the Middle-Class Stay Broke and the Rich Get Richer

10 Reasons the Middle-Class Stays Broke and the Rich Get Richer

Economics, Personal Finance, Wealth / Steve Burns

Recent data from the Federal Reserve shows the wealth gap between America’s middle class and the top 1% has reached historic levels. The distribution of wealth is heavily skewed towards the wealthiest Americans. As of the second quarter of 2024: The top 10% of households by wealth had an average of $6.9 million and held

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The Middle-Class Guide: 7 Ways to Beat Inflation Today

Economics, Inflation / Steve Burns

As living costs soar and traditional savings methods falter, middle-class families need innovative strategies to protect their financial future. This guide explores practical, actionable ways to survive inflation and thrive despite it. Leveraging modern technology and embracing community economics are approaches that can help preserve and grow wealth in today’s challenging economic landscape. 1. Beyond

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5 Things the Middle Class Must Stop Buying in 2024

Economics, Personal Finance / Steve Burns

As inflation continues to impact household budgets, making strategic spending decisions has become crucial for middle-class families. Here’s a detailed look at five key areas where adjusting purchasing habits can lead to significant savings in 2024. 1. The Hidden Cost of Restaurant Convenience: Why Home Cooking is Your 2024 Superpower According to a Bloomberg report,

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5 Ways People in the Middle Class Could Become Poor in the Next 5 Years

Economics / Steve Burns

The American middle class faces unprecedented challenges in maintaining its economic status. Recent economic shifts, technological advancements, and global uncertainties have created a perfect storm that threatens the financial stability of millions. A combination of stagnant wages, rising costs, and structural changes in the job market have made the traditional path to middle-class security increasingly

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12 Reasons Why Rich People Get Richer and Poor People Stay Poor

Economics, Wealth / Steve Burns

The wealth gap between the rich and poor widens, creating an economic divide that grows more pronounced each year. This phenomenon isn’t merely about initial wealth differences—it’s driven by a complex web of interconnected factors that systematically advantage those with means while creating obstacles for those without. In this analysis, we explore twelve fundamental reasons

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5 Signs You’re On the Path to Wealth, According to Economics

Economics / Steve Burns

Wealth accumulation is not merely a product of luck or inheritance; it’s a systematic process rooted in sound economic principles. While personal finance advice often focuses on budgeting and saving, economics provides a broader framework for understanding how wealth is built over time. This article explores five key indicators that suggest you’re on the path

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5 Ways the Middle Class Can Become Happier, According to Psychology

Economics, Psychology / Steve Burns

In today’s fast-paced world, finding happiness can feel like an uphill battle, especially for the middle class, balancing work, family, and financial responsibilities. The good news is that psychological research offers evidence-based strategies to enhance well-being regardless of circumstances. This article explores five scientifically supported methods that can help you boost your happiness and lead

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10 Signs You’re Living in the Middle Class, According to Economics

Economics / Steve Burns

The middle class has long been a cornerstone of American society, representing financial stability, upward mobility, and the achievement of the “American Dream.” However, defining the middle class can be challenging, as it varies based on location, family size, and individual perceptions. This article explores ten key indicators economists and financial experts use to identify

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5 Things the Middle Class Will Never Be Able to Afford Again Due to Inflation

Economics, Personal Finance / Steve Burns

Inflation has become a relentless force in the global economy, eroding the purchasing power of middle-class families and reshaping their financial lives. As prices continue to rise faster than wages, many items once considered staples of middle-class life have slipped out of reach. This article explores five key areas where inflation has hit the middle

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