2018's financial outlook

Consumer finance expert Vera Gibbons tells you what to focus on this year to improve your personal finances.
4:20 | 01/17/18

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Transcript for 2018's financial outlook
Oh. Pulling back to the start market as you know has just hit a new milestone unemployment is low and consumers are spending. Money so what does all that mean for your money in 2018. There are givens the founder of non political news.com this here which some answers good morning game. And RNA as you mentioned let's bring it on to where already now in wreck territory territory right now with the stock market. What's a thinking can. And it keep don't we keep hitting new records and Lawrence as we can have another little room. So there's two sides have yet to one side that says the markets there were and I ended its got nowhere to go but down that the good news is starting price stand. The other side is saying look there's still a lot to like about the US right now consumers are spending you mentioned that we've been resilient whether spending we continue to spend a lot I cannot say if I'm the economy is growing at a nice clip and that's all bad and the global economies on the upswing so I think 2018. Is going to be very good year for stocks and for your portfolio and their for for your for went back to focus of bottom line very good that the job market outlook. For 2018 what's it looking like now we had a very strong twining seventeen and if you look at the unemployment rate a seventeen year low at four point 1%. That's you know near full employment so people who have wanted Johnson actually found jobs and that's a good thing and I think the strength this very much protected 42018. Especially if you're in those high demand fields like tact like e-commerce like health care for example. And I a lot of states mandated that they were B minimum wage increases at the start of this year. Will rages wages rise overall expected to some of the economy. Yes I actually spoke to are telling me that yes because of labor market is super tight as I mentioned it's now the tightest it's been an about a decade. Big employers are going to have to actually raise wages to attract and retain to retain workers so that's good news for people who are looking. Or for some more money all right let's move on to the next topic right now talk about homeownership and realist a rate now time to buy herself well. Here's the thing OK so we're probably gonna see a little bit of the same scenario we signed when he seventeen in 2018 witness now Lott's amendment Lorraine has a lot of demand that if they brought on by the strong economy. And prices are definitely up there are so. They're telling me that it's pretty much gonna be the same type this area Reese we've seen where it is a seller's market if you are looking to buy though I would start getting your tax and or Ralph. Boost your credit score their lots of tips and ways to get a credit sesame Thackeray can download the app is. This is a really important part of the process the mortgage rates are expected to remain low in 2018 and 4% range for but to get those low rates you have to have good credit to I would focus on boosting your credit. In 2018 so you can take advantage of lower rates would he skip that and to society should you be renting burn out. The rental market. It's it's still tough but we're not seeing the kind of gains that we've seen in previous years a little bit more stability there which is actually goods a better year for renters because. There's more constructs construction coming online so. That's good again if you are in a situation where you think you might want to move I think it would be good time to do your research having zillow has some. And you can look at the constancy and other places are actually going for if you find a place similar to yours. You should get a landlord and say look I found this place at a better price the city can you better why not RX. Car sales were up in 2017. That said let's move on to gas prices what's it felt look we've had some pretty good the last the yes a look at rock here into honey eighteen according to the gas analysts I've actually spoken to so last year to averages about 240 A gallon for 2017. Costing the typical family a couple hundred dollars a month. For 2018 are saying it's going to be about two dollars and 45 cents up a little bit higher at. Still well below the over three. Could potentially kind of play like mother nature. Mr. hardy Cain storm sings about is your heart to forecaster predict what that's gonna do but for now they're saying about 245 a gallon the average for twenty TF one of this powerful storms hit the goal right and we're in trouble and it's problematic aren't recovered a lot proof. We were set for two and eighteen aside from nineteen. Give thanks and dads are you watching reviews.

This transcript has been automatically generated and may not be 100% accurate.

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