I own a hair salon. Typically, November is my busiest season. It has been SO quiet. A lot of my colleagues are also saying the same thing and have had to close up shop because of it - or get a second job.
People keep saying it will get better and the economy will bounce back but I don’t know. I am so close from just throwing in the towel, closing up shop and getting a corporate gig.
People are getting laid off and student loan repayment restarted, plus food prices are insane. People don’t have disposable income and it’s really showing.
I was laid off a few months ago and applied for the SAVE plan, which set my student loan payments at $0 for the next year. It’s just kicking the can down the road while interest accumulates.
Lenders love this. Loans people can’t repay are the new thing to sell to investors. They love it when things go on pause and interest still runs. It’s an evil world.
https://www.bloomberg.com/graphics/2023-wall-street-subprime-car-loans/