More Americans Stressed About Money and The Wealthy Are Cutting Back

In this video, I share the results of our YouTube community poll where I asked you all how you're feeling about your financial situation given the current economy. I shed light on what is going on in the US economy, as well as share my personal thoughts and mindset on how to move forward. My hope is that this message will be informative and helpful to many of you.

Disclaimer: As many of you already know, I am NOT a finance professional. Whatever I share on my channel are based on my own views and opinions, not to be taken as professional advice in any way. I have a passion for financial literacy and empowerment and create these videos in hopes that it will make you feel more confident in your own financial decisions.

Feel free to leave me a comment as I quite enjoy the dialogue with this community! As always, thanks so much for watching. xx

[hellocatwalkcity]

For those of you who watch until the very end of the video, please share your thoughts! How are you feeling overall about your finances? What’s your mindset these days? What’s your definition of financial peace of mind? I’d love to know!

[cherpeters]

Very refreshing to visit a "luxury" channel and get a thoughtful & uplifting talk on the current financial climate. It's fun to see & hear about luxury goods, but sometimes I feel like I'm watching people with a serious shopping addiction who offer nothing more than "look at the massive haul I bought today!" I appreciate how your channel has grown. Still love the luxury stuff (which you present in a very classy way!) but you offer so much more. Thanks for that.

[rosahinson]

I do believe we have been in a recession for a year, it drives me crazy the media keeps saying everything is fine. It’s always about the state of the economy. And yes, think of it rationally, I agree with you.

[Jess-buji]

This video is fabulous and highly relevant. I’d love to see more of this type of content. Xxx

[dawnhill]

Excellent video! I’m feeling grateful and watchful of my finances! I’m watching my spending and thankful to have an income. ❤

[jjfinect]

I recently heard "shop your closet" on the news. This worried me because I hadn't heard that phrase since "The Great Recession". I sold almost my entire handbag collection and some of my fine jewelry recently. I did it to fund some purchases but I also did it to put extra cash in the bank and pay down credit cards. I think we are in the beginning of what will be a very bad and long recession especially for the low to middle class. Great video. Thank you for this!

[Enchanteralle]

I don't even know how long it's been that the news keep saying we're heading into a recession. I feel like we already are. It's refreshing to hear you talk about the reality of people cutting back on spending - including the wealthy folks. I like luxury too, but I'm starting to give myself space from those youtubers who are probably shopping addicts talk about their endless massive hauls. I really wonder if they return most of the items they show us lol. Layoffs are still happening and people are more aware of the uncertainty of the future. I'm grateful I am in good control of my finance and still manage to treat myself once in a while, but it's definitely important to bring up this topic you share in this video, because there's more to life than just over-consumption. I admit that I cut back on buying clothes and unnecessary things this year even if there are great sales out there.

[JessicaIngro]

It’s so hard to know what’s going to happen or even what’s true versus embellished for the fear factor. You can’t deny though that the cost of everything has gone up quite a bit.

[shananick]

Absolutely agree with you Hannah. You sounded serious in this video but that is necessary. Yes, we hear so many noises about these bad times now and ahead. The company that i am working for is also cutting employees and fingers crossed i hope i will still have mine but no point worrying and i just leave it to God for things out of my control. I just do my best, stay on the course, take care of my health, my family and hopefully we will all ride thru this. Thanks for sharing. 😍

[juliequick]

Very thought provoking! I have cut back on spending because I simply don’t feel comfortable buying too much when others have to use food banks to feed their families. Your philosophy fits beautifully into the Simple Abundance one I mentioned recently. Have a relaxing and nurturing weekend!

[CeeinOC]

Thanks for the great content. Videos like this make me stay more aware and step back to check how I am doing with my spending, which is very important at this time.

[geslinam]

Not me. I’m spending the same way I always have. Not that I’m not saving as well, and I have always been a little thrifty, not above thrift store shopping or buying second hand, and I believe in buying quality things that will last a long time, I don’t waste money on trendy stuff - but life is short, and as a good friend used to say…”You will never see a luggage rack on a hearse.” Why save and be afraid to spend? Some nursing home will take it all in the end anyway.

[christiner]

Love this video! I hope you’re doing well! It’s important to hear all these things to help carry us through no matter what our situation is. Reality checks are healthy. 😉💕

[ThePaperExhibition]

I’m doing well financially as I haven’t been impacted by the economy so far, but my workplace is doing multiple rounds of reduction in force, so it’s harsh mentally not knowing if I’ll have a job tomorrow, or next month, or next year. So cutting back now while I’m still ok, and riding the waves that come

[susanma]

Just started watching, but I want to comment on the Home Depot topic. I am no financial expert, but weren't we told a couple years ago that sales at Home Depot and Lowe's were booming due to covid and quarantine measures? People were stuck at home and decided to do home projects. And now people are no longer stuck at home and surprise--sales at home centers have gone down! My reaction is, well duh!

[dawnlovescouture]

I am lucky to have a civil service job and a traditional pension. I can understand how people can be nervous about being laid off or to have their job disappear. Quiet cutting has existed in some industries for decades, it’s nothing new. Most companies don’t look out for their workforce, the look out for the investors.

[dt]

Unlike other social influencers who continue to flex their all things luxury lifestyle(fake or otherwise)its good to know there is still one who is in tune with reality on the ground

[urbanflight]

I appreciate this messaging so much!

I’ve been concerned about finances, particularly after losing my main income source earlier this year. Thankfully, I have 2 other sources plus savings. My hope is to land something so I can begin the replenishment. It is a scary time, indeed, but consistently wise financial decisions will always carry us - even during a recession.

[cecigmz]

My answer is I have cut back to be prepared to ride what is coming. Thanks for these types of honest conversations.

[snacknnap]

Can you make a video on references to help us understand money/banking/economy? Or some study materials you'd recommend? Thank you!