In today’s American middle-class households, the income earned from employment is no longer sufficient to cover rising expenses due to inflationary pressures. Deferred credit payments and the inability to cut family expenses significantly contribute to this financial predicament. Embedded within the culture of standard consumption, debts tied to monthly payments progressively limit the budget for daily life after covering these obligations. Moreover, the diminishing safety net funds during periods of unemployment add to the strain. This situation, coupled with the necessity for increased borrowing, is perceived as a mental impasse, pushing individuals into a state of depression.
The desire for entrepreneurial pursuits, often fueled by the dream of starting one’s own business, becomes a psychological burden due to the need for a modest yet elusive capital to sustain or initiate such endeavors. For many, the aspiration of establishing a life with minimal expenses without financial constraints leads to a psychological deadlock. Consequently, the lack of capital becomes a barrier for those aspiring to start their own business and an added financial burden for those who have already taken the plunge.
In reality, the current situation breeds disappointment in relationships due to unmet expectations caused by postponed expenditures. The intensified sense of responsibility, stemming from deferred spending, contributes to a pervasive feeling of dissatisfaction in society. Various financial studies have identified the “why” behind these adverse outcomes statistically. However, conflicting interests among stakeholders persist, necessitating intervention from governmental bodies to address the root causes.
As Owntic.com, we recognize the urgency of these issues and provide solutions anchored in financial literacy. Unfortunately, the core of these financial problems remains the main source of our value proposition. We believe that creating awareness and offering practical solutions can contribute to alleviating the financial burdens faced by the American middle class.
