July 01, 2025
Greetings!
The term the "rich get richer while the poor get poorer" has never been more truer.
We call it the wealth gap and it is getting wider, but did you know that it wasn't always like that? In fact, as recently as the 1980s the bottom 90 percent saw its wealth grow at a real annual rate of 3 percent, compared with 0.3 percent for the top percentile.
That's almost the complete opposite of what's happened since the 1990s. So, what shifted?
Let's dive into some sobering truths below, but more importantly, let's look at what we can do about it.
Be Well,
Anisa
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Debt. And A Lot Of It
The Wall Street Journal recently announced U.S. household debt has reached a new record. And what is driving all of this new debt? Mostly credit card spending and auto loans.
You can blame the politicians and the economy, and justifiably so, but judging by these results some of the blame has to lie with the consumer as well.
Consider this: if the bottom 90 percent had continued to save just 3 percent of its income over the 1986-2012 period, its share of U.S. wealth would be a third higher than it is today. That's a huge difference!
What Can You Do?
The good news is, we have power in our own financial decisions. Saving is absolutely essential. Even simple habits can create big changes.
Automate Your Savings: Try setting up a direct deposit of a portion of your paycheck into a separate savings account. Once that money is automatically saved, you'll quickly stop thinking of it as "spendable income." Out of sight, out of mind, and into your future!
Smart Credit Card Management: Some credit card companies offer tools to help customers automatically pay off their cards, utilities, and other bills. Look into these features; they can help keep you on track and avoid missed payments and accumulating interest.
Leverage Long-Term Savings Tools: Don't forget powerful tools designed for long-term wealth building like 401(k)s, IRAs, and Certificates of Deposit (CDs). Even small, consistent contributions to these accounts can grow significantly over time thanks to compounding interest.
In Closing...
Understanding the wealth gap is important, but taking action is even more so. By focusing on smart saving habits and utilizing available tools, we can begin to build our own financial stability and contribute to a healthier financial future.
What's one small step you can take this week to boost your savings?
Featured Freebie: How to Get a Free Scoop of Ben & Jerry's Ice Cream
Since 1979, Ben & Jerry’s has made it simple: Every person who comes to their shop on Free Cone Day can walk out with a free cup or cone of their ice cream. And it’s any of their ice cream flavors and varieties, including favorites like Cherry Garcia and Chunky Monkey, as well as non-dairy varieties.
When is the next free scoop day? Mark your calendars it isn't until Tuesday, April 14, 2026. Get more details
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