Your Money Minute: Priorities Over Income

SPEAKER_1 (0:03)

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Candy Valentino (0:42)

Welcome back to your Money Minute. I'm Candy Valentino. All right, I've got an unpopular opinion for you. More money doesn't always solve money problems. I know, I know, but most Americans are feeling broke because they're spending ten times more than they save. A recent study from Bankrate found that 46% of Americans spend money on clothing, shoes and beauty treatments every single month. Yet the personal savings rate in our country, just four and a half percent. That is not a money problem. That is a priority problem. And what it means is that most of the income we make is being spent, not invested. If you immediately spend your money on lifestyle, cars, clothes, jewelry, you are trading your time for your image and not your freedom. The surefire way to build wealth, earn it, save it, fall back fund, and invest it into assets, things that grow in value and pay you back, stocks, real estate or businesses. And keep it simple with my 10, 10, 10 role. How do you earn just 10% more? How do you reduce your expenses by just 10%? And how do you take the gap and invest that 10% into building assets? Because spending money may build you a lifestyle, but investing it, that's what builds you freedom. I'm Candy Valentino, and that's your Money Minute. Start your day with America in the morning. I'm John Trout, your host.

SPEAKER_1 (2:07)

From breaking news. The US. Supreme Court with rulings. Shifting gears. Apple has released a new iPhone. Here's the Wednesday business report. It's far from a seller's market. To politics and entertainment. Moving into scary movie season. So why not another Conjuring movie? Shifting gears. Howard Ball jackpot is now the third largest ever in history. Live long and prosper. America in the morning.

Candy Valentino (2:29)

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SPEAKER_1 (2:30)

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