01/27/2026
Economic recoveries come in different shapes (V, U, W, L, K). The U.S. economy is currently experiencing a “K” shaped recovery, where the rich are getting richer, and the poor are getting poorer.
Morgan Stanley Wealth Management’s Lisa Shalett shared in November 2025 that, “For the U.S. consumer, wealth concentration has produced a situation where the top 40% of households by income account for approximately 60% of all spending; those households, in turn, control nearly 85% of America’s wealth, two-thirds of which is directly tied to the stock market, which has climbed more than 90% in three years.”
In today’s economy, many affluent households have a good balance of low/no debt, predictable income, cash reserves, and growth investments that allow them to thrive. They may also be saving more and spending smarter.
Those with fewer resources may depend on borrowing and accumulating debt just to survive. This is further aggravated by stagnant wage growth, high interest rates, inflation, and little to no savings.
Here are ten tips for thriving or surviving virtually any economy:
1. Create and adhere to a written spending plan (budget).
2. Consistently save.
3. Consistently give.
4. Understand that just because you can afford a payment does not mean you can afford to purchase the item.
5. Find ways to increase your income (side hustle, overtime, shift-pay, request a pay increase, change jobs).
6. Request lower rates from your service providers (cell phone, internet, streaming services).
7. Shop for your insurance to see if the same or comparable coverage can be provided at a lower rate.
8. Request an interest rate reduction on your credit cards.
9. Create and adhere to a debt payoff schedule to position yourself to save and invest.
10. Learn how to have peace and contentment, regardless of your financial circumstances.
To learn more tips, biblical principles, and practical applications, visit https://compassfinancialministry.org/. Take advantage of the many free resources, including videos, blogs, devotionals, workshops, webinars, small-group studies, calculators, spending trackers, and much more.
