Baltimore, MD – Despiteโ rising incomes, manyโ americans are struggling to build lasting financial security, according to financial expert Candy Valentino. A recent analysis reveals a concerning trend: 46% of Americans dedicateโข aโข significant โฃportion โขof thier monthly budget to non-essential spending โlikeโฃ clothing, shoes, and beauty products. Concurrently,the national personal saving rateโข remains low,currently at โ4.5%.
Valentino, host ofโค “Your Money Minute” on good Morning Maryland, explains thisโฃ isn’t simply a matterโ of insufficient income, butโค a โmisaligned prioritization of funds. “Too many โขindividuals are trading long-termโข financialโ freedom for immediate gratification,” she says. “Purchasingโ items like cars,โ clothes,โค and jewelry offersโข aโ temporaryโข boost, but ultimately exchanges valuable time for a fleetingโ image.”
Valentino advocates for aโ foundational financial strategy: earn, save, and invest. โค”The path to wealth is straightforward,” โฃshe emphasizes. “Focus on directing your resourcesโค into appreciating assets – stocks,โค real estate, or even starting a business – that will generate โขincome โคandโค grow over time.”
For those seeking to improve their financialโ outlook, Valentino offers a simpleโค mantra: โearn it, โฃsave โit, and investโ it.โฃ “Spendingโข can enhance your lifestyle,” she โconcludes,โ “but investing is what truly builds lasting freedom.”
Catch “Your Money Minute โwith Candy Valentino” every Friday on Good โMorning Maryland.
