- Financial Fluency
- Posts
- Financial Reflections from New York: Tick-Tock
Financial Reflections from New York: Tick-Tock
Unlocking Financial Knowledge for English Learners
Welcome to Financial Fluency - a newsletter designed to boost your understanding of financial terms and provide you with investment ideas for long-term financial success.
A slightly shorter newsletter today as I have just returned from holiday:
A look at the markets - Bitcoin
Financial Reflections from New York: Tick-Tock
Word of the Day - Tick Tock (not TikTok - an app)
A Look at the Markets - Bitcoin

Bitcoin-USD - December 2023 - August 2024
I have been on holiday this week, so I have not been watching the financial markets. Sometimes, this is the most beneficial approach. I have not worried about whether the markets are up or down. Now that I am back, I will assess if there are any buying opportunities.
The chart above shows that Bitcoin price continues to fluctuate between the support and resistance zones that it has been in since March 2024.
Is this a buying opportunity? It’s not a bad time to buy especially for those investors that are dollar-cost averaging (buying on a regular basis). However, there is no guarantee that support will hold. Time will tell.

Financial Reflections from New York: Tick-Tock
Charging Bull - August 2024
I’ve just returned from a week in Manhattan, New York, and wanted to share some financial reflections from the trip in this newsletter. You will find my social reflections in our sister newsletter, Business Fluency.
New York feels incredibly vibrant compared to another city I know well, Rome. The city buzzes with activity, not just in the famous financial district but everywhere you turn. Shops have plenty of staff - some of them seem just to be there to greet you on every floor - but they are usually very helpful. Contrast this with Italy where shopworkers often appear uninterested. New York has a sense of energy and possibility that is hard to miss.
However, all this comes at a cost. The cost of living is significantly higher in New York than in Rome. For example, a small cappuccino might set you back $5.50 (around €4.95) in New York, while in Rome, the same drink costs only €1.50. Even a simple ice cream from a street vendor can cost $12 in New York (about €10.80), compared to just €3 in Rome. While these are just personal observations, data from sources like Numbeo suggests that living in New York can be almost twice as expensive as living in Rome. Rents in New York are often two and a half to three times higher than those in Rome.
This leads to an important question: does earning more in New York actually translate into being better off? Not necessarily. It’s not just about how much you make but how much you’re left with at the end of the month. Some people, even with high salaries, struggle to keep up with the cost of living. As the saying goes, "How much month is left at the end of the money?" This rings especially true in expensive cities like New York. Additionally, the lack of a social safety net leads to the social problems discussed in the Business Fluency newsletter.
Then, there’s the ever-present reminder of the country’s financial challenges: the U.S. National Debt Clock near Times Square. It tracks the growing national debt, which currently stands at around $35 trillion. It was $34 trillion when I took the photo below a few days ago. It’s a stark reminder of the financial issues facing the U.S. as a whole, even in such a prosperous-looking city. No matter who wins the upcoming elections, dealing with this massive debt will be a crucial issue.
How will the U.S. resolve its debt problem? Perhaps through debasement of currency or increased money printing. Time will tell. But for now, as the debt clock ticks away, it’s hard to escape the feeling that the financial pressure is building. Tick-tock (see below).

US National Debt Clock

Word of the Day: Tick-Tock (not TikTok - an app)
Tick-Tock - noun - used to represent the sound a clock makes.
We use "tick-tock" to denote the countdown to a significant problem or event. For example, in the previous section, I used it to emphasize that national debt cannot rise indefinitely without some form of action.
The only sound was the tick-tock of the clock.
The tick-tock of the clock reminded us that the deadline was approaching.

What did you think of this newsletter?Your chance to tell us what you want to see. |
Do you have any Financial Questions?
Please email me and I will do my best to answer them in future newsletters.
Until next Friday - have a great weekend!
Iain.
p.s. Do you know anyone who might like to join this mailing list? Please forward them this newsletter and they can join here:
And why not consider joining our sister Business English newsletter:
Disclaimer:
This newsletter is for informational and educational purposes only and should not be construed as financial advice. The information contained herein is generic and does not take into account your individual financial circumstances. You should always consult with a qualified financial professional before making any investment or financial decisions.
Additionally, the authors and/or publishers of this newsletter may hold investments in securities or other financial instruments mentioned herein. These are included for illustrative purposes only and should not be taken as a recommendation to buy or sell such securities or financial instruments.