How Government Actions Could Affect Your Future Savings

When the News Isn’t About Money, But It Still Matters

Imagine your family has a set amount of money each month for groceries. Let’s say your parents decide to spend a bit more on electricity this month because it’s really cold. What does that mean for the grocery budget? It probably means they have to be a little more careful with how they buy food, maybe picking up fewer treats or looking for sales.

The news you might have seen lately talks about something similar, but instead of your family and groceries, it’s about the country and the money flowing through it. Sometimes, government actions, even if they don’t directly mention your bank account, can change the “grocery budget” for everyone.

Think about it like this: The government is like the main manager of a really big lemonade stand. This lemonade stand has a lot of customers, and it needs to make sure everyone is happy and that the stand can keep running smoothly. When the manager makes a decision, it’s usually to help the stand.

Recently, there’s been a lot of talk about actions taken by a government agency called ICE. While the news focuses on very serious and upsetting events, like the tragic death of Renee Good, it’s important to understand that these kinds of actions, even when they seem far away from our daily lives, can have ripple effects.

What’s Happening with ICE and Why It’s a Big Deal

The news tells us about a very unfortunate event where an ICE agent, Jonathan Ross, shot and killed Renee Good, a 37-year-old mother and US citizen. This is a deeply sad and concerning event. The article mentions that some leaders are trying to explain this incident in certain ways, but it also points out that video evidence shows what happened.

ICE stands for Immigration and Customs Enforcement. Their job is to enforce immigration laws. However, the article describes how, in places like Minneapolis, the presence of ICE has caused a lot of fear and disruption. People are worried about being taken away, even US citizens. Businesses are struggling because people are afraid to go to work. Schools are even put on lockdown because ICE agents are showing up.

This situation creates a feeling of being under occupation, like people are constantly worried about their safety and their families. The article draws a comparison to another tragic event, the killing of George Floyd, highlighting that people are not willing to accept this kind of violence from those who are supposed to be protecting them.

So, How Does This Connect to Your Money?

You might be thinking, “Okay, this is really serious, but how does it affect me if I don’t have any money or I’m not directly involved with immigration?”

Here’s where it gets interesting. When things like this happen, it creates a climate of fear and uncertainty. Think back to the lemonade stand. If customers are scared to come to the stand because they don’t feel safe, they won’t buy lemonade. If they don’t buy lemonade, the stand doesn’t make money. If the stand doesn’t make money, it can’t pay its workers, buy more lemons, or even stay open.

In a larger sense, when people are afraid to go to work or when businesses are struggling because of fear, the whole economy can slow down. This means:

• Less Money for Everyone: If businesses aren’t doing well, they might have less money to pay their employees. This can lead to fewer jobs or lower wages for many people.
• Government Spending Changes: When there are major events or problems that require government attention, the government might have to spend a lot of money dealing with them. This money has to come from somewhere, often from taxes. If the government spends more on dealing with crises, they might have less money to spend on other things that could benefit people, like education or infrastructure.
• Uncertainty Makes People Cautious: When things feel unstable, people tend to be more careful with their money. They might save more and spend less. This can also slow down the economy.

Even though you might not have a lot of money right now, you will in the future. And the overall health of the economy affects how much you can earn, how much things will cost, and how easily you can save and invest when you’re ready. If the economy is struggling because of widespread fear or disruption, it makes it harder for everyone, including you, to get ahead financially.

The article also mentions that people are organizing protests and boycotts, like the “ICE Out of Minnesota Economic Blackout.” These actions are designed to disrupt the economy to force a change. When the economy is disrupted, it can have a direct impact on how businesses operate and how much money they make. This can indirectly affect the job market and opportunities for people in the future.

Your Future Financial Well-being

The decisions made by government agencies and the reactions of communities can create an environment that either helps or hinders financial growth. A stable and safe society generally leads to a stronger economy, which in turn creates more opportunities for individuals to build wealth.

Conversely, a society marked by fear, instability, and disruption can stifle economic activity. This means fewer job opportunities, lower potential earnings, and a more challenging environment for saving and investing.

When you’re 17, you might not be thinking about retirement or long-term investments. But the foundations for your future financial success are being laid now. Understanding how these larger societal events can impact the economy is the first step in being prepared.

What Can You Do?

It’s easy to feel like these big issues are too overwhelming, especially when you’re just starting to learn about money. But even small steps can make a difference in your understanding and preparedness.

One simple thing you can do is to stay informed about how different events affect the economy. You don’t need to become an expert overnight. Start by reading news from reliable sources (like this portal!) that explain things in a clear way. Pay attention to how news about government actions, protests, or major societal changes is linked to economic news, like job reports or stock market movements.

As you learn more, you’ll start to see patterns. You’ll understand how decisions made far away can eventually touch your own financial future. This knowledge is incredibly powerful and will help you make smarter decisions when you do start earning and saving your own money.

Disclaimer: This is for educational purposes only and not financial advice.