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Credello: Consumers always have bills to pay. What some individuals and families are focused on now is wage growth not keeping up with the pace of inflation. Some have taken on more debt in recent years. Others have dipped into savings to keep up with their most crucial bill payments.
Some consumers have taken on loans with collateral, also known as secured loans. Some with better credit have opted for unsecured personal loans, while still others are using credit cards to pay for many of their monthly expenses.
Whichever way you’re paying your bills, it might interest you to know which payments American consumers are most concerned about as we progress further into 2023.
1. Food
In a recent Fannie Mae National Housing Survey, American consumers mentioned that they were more concerned about paying their food bills than anything else. Many cited the prices of specific food items that have increased recently.
The grocery store is usually where Americans notice sharp price increases. Because of that, it’s not surprising that many expressed frustration over having to pay more for the same food staples that cost less not that long ago.
2. Medical Care
Some individuals have healthcare plans through their work. Those that do often still have to pay hefty copays when they seek medical care, though. Those who are self-employed must pay for healthcare plans on their own, and that’s expensive.
The cost of virtually all medical procedures and many medications seem to keep going up. It’s unlikely that will change anytime soon, since America appears in no hurry to implement a universal healthcare system.
3. Gas
Paying more when gassing up the car was another concern for many American consumers. Higher gas prices mean it costs more to drive to and from work. Taking care of various errands costs more as well.
This concern is at least starting to be mitigated by one change in automotive technology. In recent years, more individuals than ever have been driving hybrid cars and electric vehicles. Those that do are finding some relief because they’re paying less for gas, or they’re no longer paying for gas at all in the case of EVs. It seems likely this trend will continue.
4. Rent and Mortgage Payments
Rent and mortgage payments are additional expenses on American consumers’ minds. Last year, more of them expressed concerns about their possible inability to keep up with the monthly rent on their apartments or mortgage payments for homeowners.
Renters seem disproportionately more worried about payments than homeowners were about mortgage payments. The number of individuals belonging to both groups who feel nervous about future payments is going up, though.
How Can You Pay These Bills?
There are no simple answers to these concerns, but certain actions are possible. Consumers can ask for raises at work. If those are not forthcoming, they can update their resumes and look for better-paying jobs within their fields. They can take on second jobs in some instances.
They can purchase generic food products at the grocery store, should that be necessary. They can also buy bulk food items, saving themselves money that way.
The next vehicle they get can be either a hybrid or an electric car. Since more companies keep coming out with hybrid models and EVs, used ones are also becoming available. These are more affordable and attractive options for consumers who can’t afford brand-new vehicles.
There are also unsecured personal loans available from lending entities and secured loans where you put up something valuable as collateral. Credit cards are another way to pay monthly bills. You should avoid that unless it’s necessary, though, due to the high interest rates these cards usually charge.
While rising costs can be frustrating, consumers have options that can help alleviate some of the stress they might be experiencing.
Contact Information:
Keyonda Goosby
Public Relations Specialist
(201) 633-2125
Carolina d’Arbelles-Valle
+1 305 849 8443
Original Source:
Consumers Are Most Worried About Making These Types of Payments in 2023
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Washington Speakers Bureau is pleased to announce the addition of Rebecca Patterson, economic & financial markets expert and former Chief Investment Strategist of Bridgewater Associates, to their roster of exclusive speakers.
WASHINGTON, March 2, 2023 (Newswire.com)
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“We are proud to represent one of the most powerful women in finance,” said Ryan Heil, President of the Washington Speakers Bureau. “Rebecca’s expertise and insights in economic and financial markets will be invaluable to companies and organizations as they navigate the challenges and opportunities presented by today’s complex economy.”
Patterson is a globally recognized investor and macroeconomic researcher with over 25 years of experience studying how politics and policy intersect with economic trends to drive financial markets. As a speaker, she uses her research and working knowledge to offer audiences a unique view of domestic and global economic trends and implications for financial markets – from stocks and bonds to commodities and currencies (and cryptocurrencies). Coming from a male-dominated industry, Rebecca also passionately shares lessons learned from her efforts to increase diversity and inclusion to help other women succeed in finance.
As the former Chief Investment Strategist for Bridgewater Associates, the world’s largest hedge fund, Rebecca shaped the firm’s research agenda across geographies and asset classes, and helped oversee the development of new strategies to help large institutional clients solve their most pressing challenges.
Before Bridgewater, Rebecca was Chief Investment Officer of Bessemer Trust, overseeing $85 billion in client assets. While at Bessemer, Rebecca was a member of the firm’s Management Committee and helped launch their Diversity & Inclusion Committee. Prior to Bessemer, Rebecca spent 15 years at JPMorgan as a researcher in the firm’s investment bank in Europe, Singapore, and the US. She also served as Chief Investment Strategist in the firm’s asset management arm.
Today, Rebecca is a member of the Council on Foreign Relations and the Economic Club of New York and has served on the New York Federal Reserve’s Investor Advisory and Foreign Exchange committees. She also chairs the Council for Economic Education, a non-profit focused on K-12 financial literacy. She was recognized for her achievements by American Banker’s Most Powerful Women in Finance list for six consecutive years and, in 2022, was featured in Forbes’ 50 over 50.
For an insightful and thought-provoking experience, book Rebecca Patterson for your next conference, meeting, or corporate engagement. Visit https://www.wsb.com/speakers/rebecca-patterson to learn more.
Contact Information:
Washington Speakers Bureau
TAMPA, Fla., March 2, 2023 (Newswire.com)
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As a resource for all single parents, Shepherd’s Village, the Indian Rocks Baptist Church, and their non-profit partner, The JoyFM, are partnering to sponsor and host “What’s Next?” – A Conference for Solo Parents, on Saturday, March 18, from 8:30 a.m.-2 p.m. at Indian Rocks Baptist Church.
Shepherd’s Village understands that flying solo as a single parent is hard, especially when forced into this unexpected season of life. The Solo Parent Conference opens the door for single parents to have a conversation with those who have walked this road before, gaining insight on their journey to find hope and healing.
The “What’s Next” Conference will cover topics by subject matter experts in the fields of:
Registration is required and closes on March 15.
For more information and to register for this event, please visit our website at https://shepherdsvillage.com/whatsnextsolos23. We look forward to helping Tampa Bay single parents discover “What’s Next?” so they can face their future with confidence.
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Based in Tampa Bay, FL, Shepherd’s Village stands in the gap for single mothers and their children. While we are the only faith-based single-mother housing program in Pinellas County, Florida, we have expanded our free, online offerings so more women across the country can experience healing, safety, and restoration. With the help of our partners, we are able to reach two generations at one time and make an impact that will long outlive us.
There is hope beyond the brokenness and confusion caused by divorce, separation, death, or never having been married. If you know a single mother in need, please direct them to our website for life-changing resources: https://shepherdsvillage.com/.
Contact Information:
Briana Yates
Project Manager- Marketing
7277442447
Original Source:
Shepherd’s Village Invites Single Parents to a Solo Parent Conference
