Coronavirus Changed Everything, Including Consumer Spending | Freeman Capital

An Economy Under Pressure

Last month, consumers cautiously resumed spending on long-lasting, large ticket items like vehicles, furniture, and appliances. This resulted in a record 8.2% household spending rise in May. Many economists thought that this was a sign of positive things to come. 

However, probably not. The U.S. reaches new daily coronavirus infection numbers, consumer spending may once again grind to a halt. We are cautious, especially as many run out of stimulus money and jobless benefits expire. Credit card spending is down from this time last year, and there is no stimulus bill being considered in the Senate that suggests we won’t receive additional relief anytime soon.

Be The Smart Money

There will always be down days and weeks in the stock markets, but do not let that stop you from achieving your goals. Buying strong companies with sound fundamentals that will survive for decades has never been a bad choice, despite some short-term declines. 

Be a part of the smart money that takes advantage of pullbacks, instead of running from them. The legendary investor Warren Buffett has penned in his annual letter, “Anything can happen to stock prices tomorrow” but stocks are “the much better long-term choice for the individual.” Let’s learn from this man and win long-term. 

There’s always something dangerous out there when investing, but that doesn’t mean you have to put your hard-earned savings under a mattress. You just need to be smart with your money. A great template is to invest like Warren Buffett does, check this video out on how he made $10 BILLION during the financial crisis. Let’s make sure you’re positioned right and aren’t left to be the victim. 

Working to build wealth in all economic cycles is the best way to empower our communities and have the influence to make systemic change in our world. 

You can start today. 

Click Get Started to learn more.

Freeman Capital

Freeman Capital

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