Did you know that Covid has actually made us richer?!?!
Did you know that Covid has actually made us richer?!?!
According to the experts we are…and here are some stats to back that up:
Disposable income had an average rise of 10%. Total household wealth climbed to $12.8 trillion.
Even our average debt to income ratio fell. In turn our non-mortgage consumer balance declined by 2.9 per cent.
Even many young people and some in lower income brackets seem to have survived Covid with an improved financial situation which was a surprise to hear!
Check out the full article below to read all about how we have used Covid as an opportunity to make more, spend less, and begin to pay off debt we’ve been carrying around.
These statistics highlight that on average, we are poised to come out of lockdown in the next few weeks, from a financial standpoint, better than we went in! We have less debt, higher net worth, more savings…
But now we have a very serious choice to make:
Will we return to old ways of overspending and using debt to fund our lifestyles? Or will we continue to incorporate these new more sustainable habits that we adopted during Covid?
And we have many clients looking at exactly this choice right now: Is it possible to return to the things we enjoyed and live life again…without shooting ourselves in the foot financially?
Can we avoid sabotaging our future freedom for a short-term pleasure today?
The article above says: “We’ve observed depressed spending and decreased overall balances as people stay home, cut entertainment and travel costs and increase their savings rate,” Fabian said. “Fewer consumers have been seeking credit, regardless of whether they are below or above prime.”
This illustrates a fine balance between living and planning.
NOW is the time to make a choice for yourself and your family.
Before you end up back where you were before Covid CHOOSE to learn how to grow your net worth, increase sources of revenue and passive income, and take charge of your financial future!
Then no matter WHAT happens, YOU are in control of your destiny and Freedom!
Message me to find out more about how you can learn to take the positive habits you have created during Covid and let them be the start to a future of Financial Freedom and building investments that can pay for your dream lifestyle!
