Personal income drops in May but consumer spending is on the rebound, Moneywise explains

Sunrise Interviews

BAKERSFIELD, Calif. (KGET) – Sherod Waite, Managing Partner and Financial Advisor at Moneywise, joined 17 News at Sunrise to explain how personal income dropped in the month of May but consumer spending continued.

Although consumer spending increased, Waite says “we are on a roller coaster, the economy is going to have a lot of challenges ahead. “

Waite’s advice to all is that “people should be very careful about spending money that they do not need to be spending. Do not go out and buy things that are unnecessary.”

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