Are We There Yet? vol. 265
In late January, The Wall Street Journal ran an article about the “no buy 2025” trend. This trend encouraged people to buy less in 2025. In prior years, bragging about your purchases was in vogue. In 2025, people are boasting about their decisions to spend less.
After two years of high inflation and the stress of higher and higher costs, some consumers have decided that enough is enough. One person interviewed said, “It’s been empowering to live within our means.” While another said that “If I can’t control what the stores do, I can control how I spend my money.”
Even just acknowledging that one has control over their spending is a big step to better managing finances. We often talk to clients about focusing their discretionary spending on the things that bring them joy. Trying to be better informed about why one is spending can lead to better decisions. It all comes back to recognizing you have control, coming up with a spending plan that is realistic, and then executing on that plan.
If the price increases over the past couple of years created stress for many, the current uncertainty about policies, especially tariffs, is creating even more anxiety over the impact on our personal finances. But I would apply the same principles: recognize you have control, develop a plan, and execute the plan.
Take care and stay safe.
BOOK:
Novel by Emma Pattee
Annie is nine months pregnant and shopping for a crib at IKEA when a massive earthquake hits Portland, Oregon. With no way to reach her husband, no phone or money, and a city left in chaos, there’s nothing to do but walk.
Making her way across the wreckage of Portland, Annie experiences human desperation and kindness: strangers offering help, a riot at a grocery store, and an unlikely friendship with a young mother. As she walks, Annie reflects on her struggling marriage, her disappointing career, and her anxiety about having a baby. If she can just make it home, she’s determined to change her life.
Learn more about Bob Len here.
About Wolf Group Capital Advisors
At Wolf Group Capital Advisors, a comprehensive wealth management firm and Registered Investment Advisor (RIA) based in the Washington, D.C. metropolitan area, nothing is more important than the fiduciary responsibility we have in managing your wealth. Taking the utmost care, we focus on providing advice tailored to your specific circumstances. With more than two decades advising U.S. expatriates and non-US citizens employed by international organizations, we are qualified in investment strategies addressing global issues. Empathy and curiosity—combined with our experience in life planning and investment management—enable you to explore a wider set of possibilities that can lead to a fulfilling life you’ve worked hard to attain.