Forget about the blistering pace of economic growth in the United States this past quarter: Americans are hurting, and one market strategist believes life might be about to get a whole lot worse. Speaking to CNBC’s Squawk Box Europe, Longview Economics founder Chris Watling argues U.S. households are “walking towards a cliff, basically” and warned the excitement around strong retail sales is not justified. That poses a problem for U.S. growth as spending by consumers accounts for over two-thirds of the economy.
“They’re running out of cash. If you look at excess savings, they’ve been run down quite hard,” said Watling, who serves as Longview’s CEO and chief market strategist. “If you look across the income quartiles, the bottom… quartiles are under pressure, [and] probably [have] spent all that excess savings.”
In this challenging economic landscape, finding the right financial products is crucial to secure your financial future and weather the storm. Whether you are facing low credit scores, searching for ways to boost your credit, or simply looking for the best financial products tailored to your needs, we’ve got you covered. Let’s explore the options available to you.
1. Best Personal Loans for All Credit Types
One of the most versatile financial products available is the personal loan. Whether you have an excellent credit score, a poor one, or no credit history at all, there’s a personal loan for you. If you’re in need of some extra cash, personal loans offer competitive interest rates and flexible repayment terms. Even if you have bad credit, there are options available to you. Explore the best personal loans for bad credit, debt consolidation, and those designed for individuals with no credit history.
2. Finding the Perfect Savings Account
Savings accounts are the cornerstone of personal finance. They provide a safe and accessible way to save money and earn interest. But not all savings accounts are created equal. To maximize your savings, it’s crucial to find an account that offers competitive interest rates and low fees. Online banks often provide higher interest rates and user-friendly digital interfaces, making it easier to manage your savings.
3. The Path to Affordable Mortgages
For those aspiring to become homeowners, finding the best mortgage is essential. Whether you’re searching for a no-down-payment mortgage or a mortgage with no origination fees, you can find options that suit your needs. It’s crucial to compare offers from various lenders to secure a mortgage that aligns with your financial goals.
4. Boosting Your Credit Score
Your credit score plays a significant role in your financial life, impacting your ability to access loans, credit cards, and favorable interest rates. If you’re looking to boost your credit score, various strategies can help. Paying bills on time, reducing credit card balances, and checking your credit report for errors are just a few steps you can take to improve your creditworthiness.
5. The Right Tax Software for Small Businesses
If you own a small business, selecting the right tax software can save you time and money. The best tax software for small businesses streamlines the tax-filing process, helps you maximize deductions, and ensures compliance with tax regulations. By simplifying your tax-related tasks, you can focus on growing your business.
In conclusion, the economic challenges facing the United States highlight the importance of making informed financial decisions. Whether you’re looking for personal loans, a savings account, a mortgage, ways to boost your credit score, or the right tax software for your small business, the right financial products can help you navigate through these challenging times. By carefully selecting the options that suit your financial situation, you can better secure your financial future and weather the economic storm.
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