Baltimore, MD – Despite rising incomes, many americans are struggling to build lasting financial security, according to financial expert Candy Valentino. A recent analysis reveals a concerning trend: 46% of Americans dedicate a significant portion of thier monthly budget to non-essential spending like clothing, shoes, and beauty products. Concurrently,the national personal saving rate remains low,currently at 4.5%.
Valentino, host of “Your Money Minute” on good Morning Maryland, explains this isn’t simply a matter of insufficient income, but a misaligned prioritization of funds. “Too many individuals are trading long-term financial freedom for immediate gratification,” she says. “Purchasing items like cars, clothes, and jewelry offers a temporary boost, but ultimately exchanges valuable time for a fleeting image.”
Valentino advocates for a foundational financial strategy: earn, save, and invest. ”The path to wealth is straightforward,” she emphasizes. “Focus on directing your resources into appreciating assets – stocks, real estate, or even starting a business – that will generate income and grow over time.”
For those seeking to improve their financial outlook, Valentino offers a simple mantra: earn it, save it, and invest it. “Spending can enhance your lifestyle,” she concludes, “but investing is what truly builds lasting freedom.”
Catch “Your Money Minute with Candy Valentino” every Friday on Good Morning Maryland.
