Babies, houses, retirement and commercial enterprises – all the main American movements told BI that they suspended American coils of economic uncertainty.
The prices should increase prices on everything, from grocery products to cars, and scanning reductions to federal expenses have a lot concerned with their livelihoods. The federal student loan limbo also leave millions of people wondering how they will repay their debt.
“I have the impression of having finished building a life here,” said a 28 -year -old Washington DC woman who has resigned from her government job and may have to move due to finances. “I was actually trying to own a house.”
Some are even worried about a recession. Although the United States is not yet in one, a major indicator of consumers’ feeling reached a three-year hollow in March, and consumer spending was lower than expected last month. Meanwhile, a closely watched inflation metric saw its highest jump in one year. Economists have said that these conditions make people less likely to make major purchases and take financial risks.
Although some Americans have also told Bi that they support the recent Trump cost reduction measures and do not plan to adjust their work or savings, six stories have shared on the maintenance of major maloms.
Florence Thompson feels stuck. The 39 -year -old man wants to buy a house and have a baby, but she doesn’t know what his future monthly payments for student housing will look like. She said she hoped they will stay in the hundreds of bass.
Thompson is registered in the public service loan delivery program, which forgives students’ debt to government workers and non -profit after 10 years of eligible payments. Trump takes measures to limit the eligibility for the program, which could prohibit certain borrowers of future relief.
Thompson is also on the safeguard plan, created by President Joe Biden to give more affordable borrowers of monthly payments. Since July, she and 8 million registered borrowers have been blocked after being blocked in court. Thompson could not make payments or earn PSLF credit while the trial takes place. Now Thompson does not know when she will have to add loan payments in her budget – and how these payments will be. The recent decision of the Trump administration to dismantle the Ministry of Education increased this uncertainty, she said. This complicates his plans to buy a house and start a family.
“I have the money to continue IVF, I have the money to buy a house,” said Thompson. “But it is as if the sword hanging over your head where you do not know when your monthly costs were going to increase and by how much. It is just a real uncertainty, and I know that people are in positions much more difficult than me. It’s just not fair, not fair.”
Until she knows what will happen with her student debt, Thompson is in conflict. “It really makes me have to save money rather than spending it on the things that I would like to spend on,” she said.
Ashley Shannon, 28, has left her job in the federal government due to Trump’s cups. Ashley Shannon graceful photo
Ashley Shannon submitted his resignation letter last month. The 28 -year -old woman was a lawyer during her second year at the Federal Prisons Office of the Ministry of Justice. She said that her work was significant – her work has helped to combat mass incarceration on black and brown people in a disproportionate manner.
But, while the news flooded the layoffs of federal probation workers, Shannon made the decision difficult to leave his role.
“Above the agency, they have told us about it, you are likely to be dismissed and withdrawn,” she said.
The career paths for black women in private sector law are more limited than on federal workforce, and Shannon had been delighted to build a career in the public interest. She earned $ 100,000 a year and built her life in Washington DC – Hope to buy her first house soon. Now Shannon has been unemployed since March 5. If she cannot find a job by the end of April, she will have to return to Chicago to live with her parents.
“It is a very defective feeling as any new lawyer,” she said. “I should go back with my family, find another job and restart all my life.”
Last fall, BRI O. returned with his parents. The 23 -year -old is employed in finance in Charlotte, in North Carolina. She did not imagine spending her young adult years in her childhood house, but said that it was her best option to save money.
BRI knew that she wanted to live abroad at some point in her life – this is an opportunity to discover new cultures and she has her eyes cut over Spain. However, she said that Trump’s return to the Oval Office has accelerated her calendar: she is now trying to save $ 50,000 by 2026 so that she can leave the United States, perhaps permanently.
As a young queer woman, BRI said that she did not feel safe to live under the Trump administration, especially if she one day chose to get married or to start a family. The government “adopting policies against us in the queer community has an effect on our lives,” she said.
She said that she sacrifices part of her independence by living with her family right now, but it is worth it for her finances. Being at home allows her to put the money she would spend in rent and other expenses in savings for her possible move.
“I would love to stay in the country where all my friends and family are,” she said, adding, “it’s discouraging that I start because of fear.”
Margarita Sdoukos, 49, planned to retire early but lost money on the stock market. Photo gracked by Margarita Sdoukos
Margarita Sdoukos, 49, thought that she was going to retire early. She was convinced that she and her husband would have a nest strong enough to stop working in six years. Due to life below their means, their informed investments and their meticulous savings habits, the couple felt financially at ease.
Now Sdoukos is not sure that she will retire. The Illinois resident told Bi that she and her husband had lost “tens of thousands” of dollars on the stock market since Trump took office in January, and they move to safer investments for their 401 (K), even if they are less lucrative. She cashed her teacher’s pension and placed it in an IRA because of “uncertainty within the government”. She is concerned about potential social security changes and now plans to continue working for as long as possible.
“We don’t even think of retirement right now,” she said.
Jessica Deeo, 40, does not know if she should keep her job stable or become independent. Issue of Jessica Deeo
Jessica Deeo, 40, has been in the design industry for almost two decades. She is a first generation immigrant and mother based in California who balances her own LLC with her role as an employee of 1099 for another creative.
With economic policy quickly changing under Trump, Deeo is at the crossroads with his career: go solo with his business or balance his work and freelance.
“I am in the middle of understanding this, and it is really, really difficult,” she said.
Deseo said that she wanted to put energy and money in the growth of her own business, but that she is accompanied by sacrifices. She fears that potential customers do not have the additional budget to hire him as a freelancer and said that going out completely alone would be an even greater financial risk. Currently, it is careful to spend and save as much as it can.
“You see the economy around you and you are just like” Jesus, everyone is dismissed, “she said.
Kathy Heller, 67, relies more on social security and less expenses. Kathy Heller graceful photo
Kathy Heller, 67, hoped to leave her studio in Pennsylvania and buy a new house. However, due to recent stock market changes and its fears for the future of Social Security, she said that this could no longer be possible.
“I wanted to move for a few years, and I can’t now,” said Heller. “Everything has changed.”
Heller, who worked as a legal secretary, ate part of her retirement savings while taking care of her husband, who was sick for two decades. She works almost full time as a real estate agent to complete her benefits on Social Security survivors of $ 3,000. She said that she had to wait four hours on the phone to contact a social security representative, and she said that she was worried about what her finances can look like in a few months, especially if Social Security is disrupted in any way.
“My plan is to save $ 1,000 per month from my social security check, but I live alone,” said Heller. “If you don’t have a savings or monthly income, you are screwed now.”
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