It's A Full Blown MELTDOWN........ (It’s Bad)

everything is changing student loan repayment to resume later retailers will be rocked by this so what are you most proud of now don't be shy you can use the comment section down below for that it could be something as simple as completing a 1 000 piece puzzle set to maybe purchasing your first home to seeing your kid first walk or maybe even watch them get married I mean you could be as varied as you wanted to be but you might be wondering why is Ron even asking me this well Pride can be very tricky especially here in our country where some may try and hide the fact that they need help and with what we're talking about today you're going to see a lot of that as a lot of us do need help now on the topic of help it looks like millions and millions of Americans who were waiting for their student loans to be paid for they're out of luck as repayments are about to start again real soon which by the way some experts are saying that some big name retailers are going to be suffering for sure because instead of buying discretionary items more and more people are going to be focused on paying down their student loan debt is it such a bad idea to pay off our debt the number of Americans in our country that continue to suffer mentally it keeps going up and it's not hard to see why our lives are upside down and we don't see Solutions being provided what are your thoughts on your financial situation today is it better compared to say I don't know a month ago or a year ago and businesses have been failing left and right ever since the Health crisis but have you ever heard of One hiring a fake priest to extract sins from their employees I'm not kidding you guys someone actually did this to find out if their workers were coming in late or doing anything unnecessary at work now I heard of some crazy stories but this one's way up there anyway guys let's get right into the updates so depression is not a joke and I understand that people who go through it you know they're under immense and constant stress now what alarms me is that almost one in five adults in our country are being diagnosed with it one in Five Guys that's like 20 this is a huge huge number and if we're going by State the numbers also change so Hawaii would be chill at 12.7 percent of them reporting to have depression meanwhile West Virginia is way up there with 27.5 of them being diagnosed with it now I don't know if it has anything to do with the fact that Senator Joe manchin happens to live in that state but I digress now the research also shows that the Health crisis had a huge hand in changing how many of us are actually dealing with it in our lives Dr Rebecca brendel president of the American Psychiatric association said this quote the fact that Americans are more depressed and struggling after this time of incredible stress and isolation is perhaps not surprising there are lingering effects on our health especially our mental health from the past three years that disrupted everything we knew end quote well most of our Lives went downhill during his time in heck many more suffered as we got past it because the economy got screwed over now the same can be said for about 64 percent of gen xers who have now stopped saving for their retirement in a recent survey it showed that 56 percent of gen xers born between 1965 and 1980 have less than a hundred grand saved up for retirement in their Investment Bank account their brokerage accounts their Savings bank accounts and Collective accounts and a staggering 22 percent admitted that they haven't even begun to save any money I mean just thinking of having to work well after your 60s is tiring enough but not having anything at all to fall back on this is only going to add to the anxiety now they're also reporting that the inflation that we're feeling now has had the most impact in our financial situation making it even worse in the Health crisis and even during the 2008 recession now just think about that for a second and then realize the amount of information that they're trying to push on to us that we're in much better shape today compared to years ago do any of you guys feel the same way as they do now I guess the hard times have Force many to build on debt and it may also have forced some business owners to go to Great Lengths to make sure that their workers are in line with the rules and are making money kind of like this next story we're a restaurant owner in California hired a fake priest to hear confessions during work hours to try and get the sins out now this actually happened guys what sins was the owner talking about well the fake priest asked them if they were late for work if they've ever stolen any money from the restaurant or if you know they had any bad intentions toward their owner unbelievable the owner handled more than one restaurant so yeah you guessed it it happened in more than one location meaning that multiple restaurant owners and operators are now on the hook to pay for a hundred and forty thousand dollars in back wages and damages to 35 employees not to mention the five thousand dollars in civil penalties now it looks like they're gonna have to find some ways to save some money now I guess maybe they can check out their local dollar store in the area which brings us to our next topic is thrifting really that bad so here's what I think there are so many people who continue to worry about looking like a success instead of being a success I mean I'm pretty sure you guys understand what I'm talking about right they drive fancy cars they have huge homes where they're not using all the rooms but if you only knew the story behind it you would probably find out that through months behind on mortgage payments the Repo Man is waiting to pick up their car and well we live in this reality where the opinion of other people matters to us more than what's happening in our lives for real like think of it this way would you ever shop at a discount store granted that some products may not have had the same quality but if it functions well enough why not right well check this out there's this woman who makes around 200 Grand a year working for McDonald's corporate office and she says that she shops at Aldi and the dollar stores like it's normal she also asks that for her last birthday she served food off of dollar plates and the idea of shopping in this kind of a store is no longer stigmatized so listen to this quote not everything on the shelves is well made but there are things that are and I'm not ashamed to go into these places and get them and I'm not afraid to tell people about it end quote so don't feel bad if you're having to adjust to your budget you're just being responsible with your finances there's no shame in the game now with more consumers hanging on to their dollars it's very apparent that retailers are going to see even more losses and with this announcement that student loans need to be repaid after being paused for three years well analysts are saying that retailers are now bound to sink even lower so here's what UBS analyst Jay Soul had to say about it quote inflation and the overall macro environment has caused U.S consumers to defer many discretionary purchases over the past 18 months apparel has proven to be the category that consumers defer most often interestingly market research of 1 392 U.S consumers with student loans shows this trend is even more pronounced among this group we believe that this indicates student loan consumers will reduce spending on Apparel in a big way when they have to start paying off their student loan debt end quote now this is not good news for places like American Eagle Outfitters Carters Crocs Foot Locker Canada Goose The Gap Nordstrom Nike Steve Madden Under Armor and Victoria Secrets this will only lead to even more problems with our economy and who's more likely to keep suffering during this time that's right guys people like you and me but what are your thoughts on today's updates make sure to let me know down in the comments down below now that is a really huge anchor and it can stunt our financial growth and that is why it is best to clean it up as soon as we can get out of debt become debt free but how do we do that under these circumstances I mean it could work if your cash flow outweighed your debt so basically have multiple streams of income well that's one way but how does one achieve that well there's different ways but the simplest way would be through side hustles small businesses creating home-based businesses or finding alternative ways of increase your income now you can also make your money work for you by investing in the stock market through stocks itself ETFs index funds you can invest in real estate or you could try to keep it safe with gold and silver now I know it's kind of intimidating to do something new but if you guys weren't interested in more topics like that definitely hit me up in the comment section down below it's not going to be easy but I'm sure it's going to be worth it now at this point guys you should see two videos above my head both here and here go ahead and click on those videos now and check those out and before I go don't forget to drop a huge thumbs up for the video it really helps a lot share this video with everyone you know and subscribe to your daily dose of the truth appreciate you guys imma catch you on the next one