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Economics and Personal Finance Lecture Notes
Jun 10, 2024
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Economics and Personal Finance Lecture Notes
Key Topics Covered
Employment and Government Reporting
Saving and Spending Habits of Americans
Buy Now, Pay Later (BNPL) Impact
Consequences of Poor Financial Management
Real Estate and Mortgage Issues
Personal Financial Responsibility
Employment and Government Reporting
Initial report: 353,000 jobs in April
Government corrections: Numbers were inflated
Phantom debt and multiple job holders becoming more common
Saving and Spending Habits of Americans
During COVID-19:
Americans had $2.1 trillion in savings
Paid off debt: Government aided savings
Since August 2021:
Savings depleted at a rate of $70 billion/month
Credit card debt rose to $1.1 trillion
Savings rates declined to 3.2%
Key Insights
High spending post-COVID due to
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