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“We have a big family, I have five kids, so we pay a lot of attention to the economy,” said mom Robynn Garfield.Garfield and her family have been working hard to line up their finances and investments. “It’s hard as a big family to try to make gains when either the stock market is crashing or taxes are going up,” Garfield said. “Every day it feels harder and harder.”“We were looking at it last night kind of gritting our teeth,” Garfield said. “Because we’ve lost about 10% in our crypto account in the last two weeks.”This most recent change in the stock market has come from three main things: big tech pullback, interest rate increases in Japan and weakness in the jobs report.
“For someone who is in the equity market, you know retirement 401k will see a drawdown in that,” said Robert Spendlove, Senior Economist for Zions Bank .Back-to-school shopping: calculators are cheaper, school fees remain high “It’s really important to not focus on one day of the stock market, or one economical report as a gauge of the economy,” Spendlove said.“My recommendation to people is, don’t make changes in times like this,” Spendlove said. “You don’t want to sell, probably don’t want to buy because there is this high level of uncertainty.”“We're trying to be a little more thoughtful about where we spend our money in general,” she said.