Trends That Are Influencing Your Financial Future

money trends

By Carla Blair-Gamblian

Every decision we make in life has both short term and long term rewards and consequences. Many Americans still have the desire to achieve the “American Dream” but reality often times ends up getting in the way, ultimately leading us down a different path. Debt can quickly mount up, health issues can arise and other complications are bound to happen. Our lives are constantly changing and that means our finances are going to be impacted. Ideally, we’d all like to save more, spend less and pay off debt but sometimes that just isn’t possible. So what can you, the consumer, do to help understand and prepare yourself for financial change? The answe

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11 Responses to Trends That Are Influencing Your Financial Future

  1. Josh says:

    “Many Americans are realizing city life offers advantages such as a shorter commuter, easier access to facilities and an overall simpler life.”

    Good article. But… “simpler life.” ??? really ? I’ve lived from very rural to very urban. I now live very urban and – this is not a “simpler life.”

    I can’t wait for the housing market to rebound (more – 5 years’ish) so that I can sell this ‘simpler life’ to to someone else and go lead a ‘complicated life’ by a lake somewhere. :)

  2. getforfree says:

    I have a question about Health coverage.

    Our income is low enough to get Medicaid. Our kids get free medical from state of CA. The problem is that we might have too much assets to qualify for Medicaid now. They don’t ask about your assets when you get the healthcare just for the kids, but they do, if you want to get it for adults. Will that change? If not, I would rather pay a penalty, because I never use doctors anyways. The other thing is, when you are over 55, the State will take all your property after you die, if you get Medicaid. It seems like they want you to pay for the care you don’t use, or loose all your property if they pay it.

    The other trend is. They want you to SAVE FOR RETIREMENT, but I feel that with all that extra expenses for healthcare, most people might use it all up for healthcare premiums before they can even retire.

  3. getforfree says:

    When you live in the city, you are very dependent on the economy. When you live in rural area and can grow your own food, you can feel more secure that whatever happens, you can have eggs, meat, milk, and some animal skin clothes. I would also love to go off grid and not have any utility bills. I don’t mind chopping wood all summer.

  4. Noel says:

    Lets face it, no matter how much the pundits beat the drum that American dream is still alive, it is not. Going into that discussion is out of scope of this post.

    Sticking to healthcare only, Obamacare, although the idea seems pretty good, needs more explanation. I pay a fortune for my health insurance (About $20000 for a family of 3) and still have to pay $4000 out of pocket. Plus son is disabled. It is not fun. Obamacare gives a lot on the paper to the middle class and lower income families, who IMO are disenfranchised in many ways. The system needs be open more in what will be finally on the table. I was talking to my eye doctor and he was pretty upset. He does not think Obamacare brings anything for the population it is actually targeted to, nothing to the practitioners like him. All money will go to rich people one or the other way. So I am not too sure how it will be useful (unless implemented well).

    And there is another party that is voting ~40 times to get rid of Obamacare that is law of the land. Formerly republican, now independent.

  5. JayS says:

    Totally agree with the article! The one trend not mentioned, and granted I don’t know how well it’s documented, is the whole 1% issue, where wealth is being more and more hoarded by the elite, 1% of our population. Ever since Reaganomics there’s been this ridiculous “trickle down” theory of the economy, which I *hope* soon will be permanently debunked. However, it seems to be getting worse.
    Nick Hanauer has spoken articulately about this, and what he calls the “death spiral of consumer demand” if things don’t change.

  6. Rebecca says:

    I agree that college costs are too expensive, and it leaves students with huge loans to pay back before they have even started their first full-time jobs. This tends to put a lot of unnecessary mental pressure on these graduates. Education is important for our future and we need to address the issue that a large portion of people cannot afford this education.

  7. Ravi kumar says:

    Good article, thumps up, it is too expensive for students to bare the costings. They have to pay loan amount. In future, education will be more costly.

  8. Michele says:

    That medical insurance fee is ABSOLUTE CRAP. I regret voting Obama into office more and more every day. Not that the republican alternative was even an option. There had better be an exemption for veterans because I don’t need medical insurance. I have the VA.

  9. Karla Twomey says:

    Hi Carla,

    Great Post! You are right about how these changes are impacting our financial future. While we all may not be affecting by all of these points, chances are most of them are going to be a constant drain on our finances. My son is going to college this year and it is costing so much more than when I was his age. I was able to go to school, work part time, and afford an apartment with a roommate. Now in our current economy, that isn’t doable for him. Hopefully there will be shifts that will end up being a relief on our wallet instead of a burden. Thanks for the post!!

    Karla Twomey

  10. Gailete says:

    Every year at this time of year our local TV news and paper feature kids going off to college armed with TV’s, microwave ovens, coffee makers, all sorts of electronic gizmos, new bed linens, boxes of prepackaged food, etc. These kids & parents have probably spent $1000+ before even leaving the house. This is on top of the multiple trips around the country to decide on the best college, then the trip to take the kids to college. Money seems to be flowing out of peoples pockets. Then in college the kids seem to think they need to continue living a lifestyle like the ones supported by parents paychecks back home. Whatever happened to the poor starving college kid? I know it wasn’t a fantasy as I was one. I just see that many of those college loans went into the kids lifestyle and not necessarily anything college related. There could be much savings (as less loans) if college students lived a more frugal lifestyle but with easy credit and loans, they start living the lifestyle for the job they hope to find upon graduation.

    Don’t even get me started on Obamacare. I find it interesting that businesses have received a year reprieve to be compliant but not people who still don’t know where the ‘insurance’ payment each month will come from. Lets see, do we decrease the grocery budget, the utilities budget or not pay full rent or mortgage (I’m sure the landlord and banks will understand!).

  11. Jo says:

    Then you have nothing to worry about. You are automatically covered. As for myself, I am glad I voted for the President. Having gone a very long time w/o insurance and with a pre-existing issue (chronic pain)I’ve always been turned away or paid 100% out of pocket.

    I’m a vet myself from when I served back in the late 70s. So, from one vet to another, I thank YOU for your service. :-)

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