Overcoming Financial Anxiety in Uncertain Times

Summary

Summary of "Overcoming Financial Anxiety in Uncertain Times"

Podcast Information:

• Title: The Candy Valentino Show
• Host: Candy Valentino
• Network: Cumulus Podcast Network
• Episode Title: Overcoming Financial Anxiety in Uncertain Times
• Release Date: May 2, 2025

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1. Introduction

In this episode, Candy Valentino addresses the prevalent anxiety surrounding the current economic climate. She delves into issues like shrinking retirement accounts, fluctuating tariffs, and overall market uncertainty. Drawing from a recent Forbes article highlighting Americans' economic worries, Candy sets the stage for a comprehensive discussion on understanding and overcoming financial anxiety.

2. Understanding the Current Economic Climate

Candy begins by examining the decline in U.S. consumer confidence, which has fallen for four consecutive months, reaching a 12-year low. She attributes this decline to rising tariffs and inflation, questioning whether these indicators signal an impending recession.

Candy Valentino ([02:15]): "It's about the worst it's been in years. Does this signal a recession?"

She compares the current administration's first hundred days to taking over a struggling company, emphasizing the immense pressure and limited time to enact meaningful changes.

3. Consumer Confidence and Recession Fears

Candy analyzes consumer behavior trends, noting a paradox where purchases of homes and cars have declined, while spending on large appliances has increased. This unusual combination suggests that while consumers hesitate on major investments, they still engage in strategic spending to mitigate anticipated price hikes.

Candy Valentino ([06:30]): "It's always about when everyone is doing one thing, where's the opportunity in the opposite."

She highlights the importance of consumer confidence as a key economic indicator, driving both spending and investment behaviors. The fluctuating consumer confidence directly impacts the U.S. economic activity.

4. Strategies to Overcome Financial Anxiety

Candy offers actionable strategies to manage financial anxiety during uncertain times:

a. Focus on What You Can Control

She emphasizes the importance of redirecting focus from uncontrollable external factors to personal financial decisions.

Candy Valentino ([12:05]): "Focus on what you can control and don't buy anything that you don't need."

b. Manage Your Spending Wisely

Candy advises against making impulsive large purchases solely based on market fears, advocating for restrained and necessary spending to prevent over-leveraging and subsequent anxiety.

c. Identify Investment Opportunities

She encourages adopting an investor mindset by recognizing opportunities during market instability, such as buying undervalued assets when others are hesitant.

Candy Valentino ([09:50]): "Think about when you hear the word recession... where is the opportunity for you and your family?"

d. Protect Against Scams

Candy warns listeners to be vigilant against financial scams, especially during turbulent times when desperation can lead to poor decision-making.

Candy Valentino ([10:30]): "Don't do the latest crypto scam. If you can't understand an investment, you don't want to invest in it."

e. Limit Information Overload

She advises against excessive consumption of news and social media, which can exacerbate anxiety. Instead, she recommends educating oneself without allowing information intake to become overwhelming.

Candy Valentino ([11:15]): "Be careful to not overload yourself with information... lessen your anxiety."

5. Cultivating an Investment Mindset

Candy underscores the significance of maintaining a disciplined investment strategy, especially for those not nearing retirement. She advocates for automatic, consistent investments rather than micromanaging portfolios in response to market volatility.

Candy Valentino ([16:45]): "Stay invested. Stay diligent with your financial investing plan."

She reassures listeners that short-term market fluctuations have minimal impact on long-term financial goals if a steady investment approach is maintained.

6. Maintaining Financial Goals Amid Volatility

Emphasizing the compounding effect of prudent financial decisions during uncertain times, Candy encourages listeners to remain steadfast in their financial plans. By focusing on long-term objectives and avoiding reactive measures to market noise, individuals can secure their financial futures despite short-term economic challenges.

Candy Valentino ([18:10]): "What you do in uncertain times will really compound for you long term."

7. Conclusion

Candy wraps up the episode by reiterating the importance of controlling one's financial decisions, recognizing investment opportunities, and maintaining a balanced approach to information consumption. She invites listeners to engage with her by submitting questions for future episodes, fostering a community of proactive and informed individuals striving for financial freedom.

Candy Valentino ([19:00]): "Listen to this show because it's information that you can use, it's digestible, that you can understand it, and it's going to help you stay on track for whatever financial plans and goals that you have."

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Key Takeaways:

• Control What You Can: Focus on personal financial decisions rather than external economic factors.
• Strategic Spending: Make necessary purchases without succumbing to market-induced fear.
• Investment Opportunities: Utilize market downturns to invest wisely.
• Vigilance Against Scams: Protect your finances by avoiding dubious investments.
• Balanced Information Intake: Stay informed without overwhelming yourself with news.

Notable Quotes:

• "It's about the worst it's been in years. Does this signal a recession?" — Candy Valentino ([02:15])
• "Focus on what you can control and don't buy anything that you don't need." — Candy Valentino ([12:05])
• "Stay invested. Stay diligent with your financial investing plan." — Candy Valentino ([16:45])
• "What you do in uncertain times will really compound for you long term." — Candy Valentino ([18:10])
• "Listen to this show because it's information that you can use, it's digestible, that you can understand it, and it's going to help you stay on track for whatever financial plans and goals that you have." — Candy Valentino ([19:00])

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Final Thoughts: Candy Valentino effectively navigates the complexities of financial anxiety in her latest episode, providing listeners with practical strategies to maintain financial stability and pursue wealth-building opportunities amidst economic uncertainty. Her blend of expert insights and actionable advice serves as a valuable resource for founders, investors, and entrepreneurs seeking to secure their financial futures.

Transcript

[Candy Valentino]

Foreign.

[Unknown Host]

Welcome to the Candy Valentino show, the podcast for founders, investors and entrepreneurs where we have honest conversations about what it takes to grow your business, build more wealth and create financial freedom.

[Candy Valentino]

Hey guys, welcome back to another episode of the show. Thanks for tuning in with me today for this episode. And as you know, we have been making some changes to the show, changing our drop schedule a little bit, and as we work through the month of May, you're going to see some continued changes. So thanks so much. We're really excited about it and today's show is no exception. We want to talk about something that is on pretty much everyone's mind. The economy, the tariffs, the, the uncertainty that's going on. A little bit of the anxiety that a lot of people are facing as they're seeing their IRAs and their 401ks shrink. Not sure what it's going to happen with Amazon now telling us exactly how much a tariff is included in each of our purchases. So what is happening? And if you are somebody that's struggling right now with a little bit of just uncertainty or even anxiety about the market, well, we're going to talk about exactly what's going on and most importantly how you can overcome it. So we found this article in Forbes that is talking about Americans overall are just a little worried about the economy and that it's about the worst it's been in years. Does this signal a recession? So first, let's chat about what we do know. So it came out just recently that the US consumer confidence fell for the fourth consecutive month, hitting a 12 year low due to rising concerns about the tariffs and inflation. And if you're thinking about the first hundred days of this current administration, well, it's interesting to think that a lot of people feel that should see rapid change already. You know, one of the things that I kind of think people view the hundred days incorrectly is I think that it's really tough to make drastic change in three months, especially when you are turning over a completely new company, if you will. And if you're not watching me and you're listening, I'm using air quotes with my fingers because I often think about our government as I would a company. If I was taking over a company tomorrow and we were replacing its entire leadership team, if we were replacing the CEO that's at the forefront, if we were replacing every policy and position that we had for the prior four years, how difficult would that be? And if we inherited some problems or not? Again, depends on what side you fall to believe that maybe there are a Lot of issues that were going on in the country that maybe came to a surface in early 2025. But if you believe that there are even some. Right obvious, I think common sense, we would say that there were some issues with rising costs and there were some issues with immigration and the border. So regardless where you fall, I think most people just common sense approach would say that there were some issues. I can't imagine walking into a company and only having three months to make radical changes while everybody is watching, everybody in the country's watching, everybody in other countries are watching me. Like everybody is scrutinizing every single move that I make, from financial decisions to military decisions to infrastructure to, I mean, you name it, I can't imagine the pressure. And even if everyone wasn't watching and I was able to do this behind closed doors and change out the leadership team and make all new policies and procedures and systems and create change, I don't know how successful I would be in just three months. And so I often think of that anytime there's an administration change one way or the other, regardless of what side you're on, I can't imagine having tons of success right out of the gate unless it's all for show because obviously we can market a lot of things, right? If I were to take over a company, a failing company that wasn't paying their bills, that were losing jobs to other competitors, right? These are real things that the US has been dealing with literally since the 70s. If that was the company I was taking over, obviously it would take just time to assess how bad the situation is. It would take time to understand who's going to get us out of that situation. It's going to take time to think about what are the different ways we can test different marketing strategies, different financial strategies. How do we know how bad it really is or how good it really is? We really need to assess all of the information. So when we talk about what's been going on in the news right now is the first hundred days, I don't really put a lot of weight on it. I like to see what has been started, what decisions have been made. How has the current, if you will, like, has there been a lot of momentum? And. Well, one thing we do know is there's been a lot of waves. There have been a lot of changes, a lot of waves. There's been a lot of uncertainty. We've got literal overhauls of how just our economic policies are positioned on the global market. Changing tariffs, obviously trying to cut inflation as it continued to creep up. And so that's going to create a lot of uncertainty. Again, I look at it as a company, if you're coming in and you're making all of these changes, of course if you have millions of people that are your workforce, they're going to have a little question about all the things that you're doing. So I think right now, not only do we need to stay the course, but I also think we need to have a little faith. I think it's a little blind faith, to be honest, if you don't really understand what's going on behind closed doors. And so I think consumers are anticipating a recession right now because they are feeling this uncertainty in the market. They're seeing these, these changes and they're seeing things shrink. And then they see a number come out that's like 0.3%, like 0.3%, the economy shrunk. Honestly, I was shocked. I thought the number was going to be far worse because of all of the changes happening. So I was actually pleasantly surprised. Now, the media certainly didn't make it seem like that. They made it seem like it was so awful and that the inflation didn't come down as much as it did, but it still came down. So there's a lot of things that are happening. I just believe that what we're doing is we're looking in this really condensed period of time and we need more time for it to play out. And I think we are all going to see that rapid time over the next three to six months to really see how much this policy is going to change. But quite honestly, when I'm, when we are moments like this of the first hundred days and everybody wants this full report, I'm thinking, I am so glad that I never ran for office because having everybody watch, I mean, I almost did twice in my life, but I'm thinking, like to have that stage where everybody is watching as you're trying to make just real time decisions and change and adapt and pivot, like, wow, I can't imagine the stress and the pressure. So because I look at that as if I was taking over a failing company, regardless who's in the White House, I like to give them some more time to see how is this going to play out. Now we're seeing that plans to purchase homes, cars have all declined. Those are all stats that came out. Although intentions to buy things like large appliances have increased, possibly because people are worried about price hikes like we talked about on the show last week. So a lot of times people, when they're worried about it increases. They buy now in order to save. It's also a great marketing strategy for.

[Unknown Guest]

All of those, all of you with.

[Candy Valentino]

A business, but making sure that we understand the only reason that is happening. Nothing actually changed in the economy or the labor. Labor market, like really nothing's kind of changed in the last three months. What happens is when there is instability and uncertainty, people freeze. Although what we're seeing is people are spending more. It's a very odd mix. Typically we don't see the two. We typically see people not buying housing and car and then not spending as much. But the two things together where they're spending more and they're not spending on the houses and they're not doing, you know, cars and things is a very strange mix that we don't typically see. But after a strong 2024, during the holidays, we saw retailers shoot up. There was more purchasing in the end of 2024. There was more consumer debt in the end of 2024. Retail sales dropped a little bit in January, which is typical, and then really rebounded again in February. And we're starting to see spe. So consumer confidence is always a key economic indicator since consumer spending is really what's driving the US Economic activity. So when you don't have consumer confidence, people are not going to spend as much. When you don't have consumer confidence, people aren't going to invest as much. When you see red consistently in your portfolio, people are not jumping to invest. So all of this is perfectly normal. What are some of the things that you can do? It's managing your psychology. I always say an investor mindset is really about managing your psychology. Understanding that when things are uncertain and people freeze, that's your opportunity to double down. And it takes risk, it takes guts, it takes bravery, courage in order to do that. I know I'm. I'm doing it right now, like continuing to buy down, where it's like, oh, my gosh, where is the bottom? Is this the bottom? And then every time you see a little pop, you see money surge in. So what most people do is when their investments start to go down, they start to pull money out of the market. And then once they see it go back up, they push it back in. But then they just miss the gap of that increase. So it's always about when everyone is doing one thing, where's the opportunity in the opposite. That's what I'm always trying to look at. And that's when I identify patterns. I always say, if I'm. If I'm good at anything. It's really just identifying patterns and understanding the patterns and then making sure that I make the tough decision based on that pattern. Even if my own, like, gut is like, oh my gosh, this is so painful, or this could be painful, or this is really risky. If there is an informational pattern that says when everybody is not investing and not spending and not doubling down on their marketing, is there an opportunity for you? The answer is typically yes. So I want you to think about these uncertain times as opportunity. I want you to think about when you hear the word recession. I want you or, or depression or reset or all of these terms that the media is going to throw out because it's great. Clickbait. Where is the opportunity for you and your family if this housing market continues to be on a freeze? You know what that means for you? It means that if you are looking to buy a home, and like I always say, it doesn't matter what the rates are, if it's a good time for you to buy a home, if it's a good time for your family to buy a home, if you have enough saved in order to make your down payment, and then that's when you know it's a good time to buy. So don't ever worry what the rates are because you can always refinance. But when the real estate market starts to freeze like this, you always want to look at the opportunity because there's a lot of houses that will sit. And what's that mean? That means that there's opportunity for you to take a look at the listings to see what's been sitting on the market for. For 120 days or more, what's had a bunch of price reductions to that. Maybe there's an opportunity for you to get a house for less other than when you wait and there's bidding wars and low rates and you have more buyers to compete with. So in every one of these challenges, there is an opportunity making sure that you're looking for it and most importantly, that you're taking action.

[Unknown Guest]

Do you know what's sitting in my garage right now?

[Candy Valentino]

A Range Rover.

[Unknown Guest]

It is the only vehicle that I have had over and over again throughout my lifetime. And that's because the Range Rover Sport blends power, poise and performance. And it's free from unnecessary details. It has this raw power and agility that can take on roads anywhere. And when you drive one, you won't.

[Candy Valentino]

Want to drive anything else.

[Unknown Guest]

Just like you, it was designed to make impact. The Range Rover Sport combines dynamic Sporting personality, elegance and agility to deliver a truly instinctive drive. It has defined true modern luxury. And it's a force inside and out. The Range Rover Sport was built with you and I in mind. Build your Range Rover sport@range Rover.com US Sport.

[Paula Pant]

Hey there. I'm Paula Pant, host of the Afford Anything podcast. I help people make the smartest money decisions possible.

[Unknown Guest]

You should not do the 401k loan.

[Paula Pant]

Reason number 4872. Are we heading for a recession? You'd be shocked. Dumping it into the house.

[Unknown Guest]

Invest in flipping houses.

[Paula Pant]

Mathematically the better option.

[Unknown Guest]

Paula pants really keeping us in business.

[Paula Pant]

Because, face it, money's too important to wing it. Review your budget, take the reins, Sharpen your skills.

[Unknown Guest]

Do the thing.

[Paula Pant]

Start a side hustle that will affect your life. Afford Anything. Follow and listen on your favorite platform.

[Candy Valentino]

And that's going to bring us into segment two, how to deal with the anxiety during economic uncertainty. Because we can talk about it and I can tell you what to do, but there is this thing in your mind sometimes that says, candy, I don't know that I can control it. So what do we know? Number one, you gotta focus on what you can control. We can't control every time Trump opens his mouth and something crazy happens with tariffs in the market, we can't control what's going on in trade policy. We can't really even control what's happening next. The only thing that we can focus on is what we can control. And when we shift that mindset, it is amazing how our. Our anxiety can decrease. Because if we're constantly focused on what we can't control, imagine how frustrating that is. The economy is not predictable and then it's not even tried. And true, you can listen to great financial advice and it'll typically get you in the right direction, but I can tell you nobody saw what was going to happen these last couple months. We had no idea that the tariff talk was going to come first because Trump's last term. Taxes came first, tariffs came second. So it kind of like just quietly went on as the tariff war, but it was nowhere near as volatile as this. We had no idea that the tariff talk was going to come first and that this much uncertainty was going to happen in the market. But here's the thing to remember. Regardless of any tariff, stick to buying what you need. Some people will tell you to make big purchases now or stockpile so that in case the tariffs change. But sometimes you want to exercise restraint. We don't know that they're coming we don't know if they're going to be temporary, we don't know if they're going to be long term and we don't know how the economy will adjust. So purchase what you need and if you have disposable income to stock up, then by all means go ahead and do so. But don't buy big, large purchases just because there's a sell or you think think that something is going to be changing. Because anytime you over leverage yourself, anytime you spend more than necessary, that also creates anxiety. So making sure that you reduce your spending in economic times, only buy what you need, that will calm your nerves as well. So focus on what you can control and don't buy anything that you don't need. The third one is make sure that you watch out for scams. Again, anytime that you can really understand the financial situation better, it's also going to decrease your anxiety. Don't ever listen to people who are going to pressure you to take quick action. Make sure that you are slowing your decision making. Don't ever send money to somebody that you don't fully know who they are or what they're doing. Don't do the latest crypto scam. If you can't, you know, understand an investment, you don't want to invest in it. Make sure that you are watching out because it's not just how much money you make, it's also how much you keep, it's how much you protect, it's how much that you preserve during difficult times. So make sure that you're cautious of that. And last but not least, be careful to not overload yourself with information. So often the anxiety that people face in uncertain times are because they are binging the news, they are watching their social media feed, they are in group chats about the economy, which is inciting fear and it's making you second guess the financial plans that you committed to. So it's always good to educate yourself about what's happening. Just make sure that it is not increasing your anxiety. Make sure that you're taking the understanding it a little better and that should lessen your anxiety. Listening to this show should lessen your anxiety because it's information that you can use, it's digestible, that you can understand it, and it's going to help you stay on track for whatever financial plans and goals that you have. And last but not least, I think I already said last. But anyways, we'll call this a bonus then. So we're going to throw this on at the end because this is important too. I think this creates a lot of anxiety for people. If you are not planning on retiring soon, don't watch your investments closely. Market volatility is going to happen and most things that happen right now if you're not going to retire in two, five or seven years from now, are not going to change your retirement plan. They're really not even going to change much at all of your financial goals. So the more you are watching your stocks go down or be volatile, wondering when they're going to swing up, is creating anxiety that you don't need. Stay invested. Stay diligent with your financial investing plan. Set it and make it automatic so that no matter what, you're still investing that money every single month or quarter depending on how you're doing it. But don't keep checking that portfolio over and over again because that will increase your anxiety and it is is not going to help you at all. And anytime you are watching the news or you're seeing the headlines and you're feeling that uncertainty pop up, come back and listen to this episode because we got focus on what we control. We've got to make sure to tune out the noise so that we can stay connected to our financial plan. Because what you do in uncertain times will really compound for you long term. So make sure that you stay diligent, stay invested, stay educated, but don't over consume information. All right guys, thanks so much for tuning in today. If you have a question for me, go to candy valentino.com/ask candy. And we're going to answer your questions right here on the show. So if you have a specific question, if you're feeling unsure, if you have some anxiety, ask me. I will be happy to answer it here on the show. We're going to be doing them weekly, so look forward to me answering your question very soon. All right guys, thanks for spending this time with me today. We'll see you next time. Hey guys, thanks for tuning in to this episode. And if there was something that you loved or you had a specific takeaway, share it and tag me at Candy Valentino.

[Unknown Guest]

And if you haven't already, grab a.

[Candy Valentino]

Copy of my latest book, the 9% Edge Lifechanging Secrets to create more revenue for your business and more freedom for yourself. You can pick it up anywhere books are sold, Amazon, Barnes and Noble or.

[Unknown Guest]

Your local independent store.

[Candy Valentino]

And once you do, head over to 9% edge.com and claim $1,500 in pre order bonuses, including a chance to join.

[Unknown Guest]

Me on this very show.

[Candy Valentino]

Thanks so much for tuning in and.

[Unknown Guest]

Spending this time with me today, guys. We'll see you next time.