From the course: Recovering from a Financial Setback
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How much is enough?
From the course: Recovering from a Financial Setback
How much is enough?
- Moments of crisis can also be moments of opportunity, so when the world around you's changed, it can be a great time for you to reevaluate your financial habits and expectations and specifically, your buying behavior. The big question is when it comes to consumption, is it it possible to override the hardwiring that more is better and become a more rational spender. In the U.S., 70% of the economy is made up by consumer spending. It's our everyday purchases, big and small, that drive value for the economy and the markets, and this is true for most modern economies, but in a world shaken by a pandemic or an economic downturn, whether you've been impacted by job loss or have had to change your behavior because of social distancing and closures, your life as a consumer will probably change. Some changes are obvious. You may drive less, eat out less and cook at home more, spend less on non-essential items, and live…
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