Be The Rich Shirt
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Official Be The Rich Shirt meaning:
households are largely driving the Official Be The Rich Shirt What’s more,I will buy this expected jump in back-to-school outlays this year. Families with budgets unaffected by inflation are forecast to spend about 32% more on school-related purchases than in 2021, according to a report last week from commercial real-estate services firm JLL. Among mid-to-low-income households, the outlook is murkier. Families whose budgets are significantly affected by inflation plan to spend 15% less than last year on back-to-school shopping while those somewhat affected by inflation will spend roughly 6% less, according to JLL. The NRF still sees less affluent households boosting rather than trimming their spending to start the school year — but with more belt-tightening elsewhere to do so. “Lower- and middle-income consumers are sticking to the necessities, and they’re starting to trade down,” said Katie Thomas, lead at the Kearney Consumer Institute, a research arm of global consulting firm Kearney. “Then there are individuals who are aware of inflation and say, ‘Yeah, I noticed my latte was $7, but I still bought it.’” The back-to-school season comes as middle-income shoppers experience the steepest rise in their cost of living over the last year and low-income consumers face fewer options to manage high prices, according to Wells Fargo research. Federal stimulus payments and the expanded child tax credit — which Congress allowed to lapse at the end of 2021 — helped low-income people save, pay down debt and raise their net worth to record levels last fall, said Sarah House, a senior economist with Wells Fargo. But that growth is beginning to be erased by inflation, which has outpaced wage gains. “I don’t think it’s all doom and gloom for the consumer,” House said. “But I think
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