What does a strong economy mean? 

Possible new words to use:

• Perceptions: The way in which something is regarded, understood, or interpreted by individuals.

Example: People's perceptions of income inequality can vary widely depending on their personal experiences and beliefs.

• Disparities: Differences or inequalities, especially in terms of income, wealth, or opportunities.

Example: There are significant disparities in income levels between the wealthiest and poorest members of society.

• Alleviate: To make (suffering, deficiency, or a problem) less severe or easier to endure.

Example: Measures need to be taken to alleviate the financial burdens faced by low-income families.

• Benchmark: A standard or point of reference against which things may be compared or assessed.

Example: The government uses certain economic benchmarks to gauge the health of the economy.

• Well-being: The state of being comfortable, healthy, or happy.

Example: Financial well-being is not just about having a high income but also about managing money wisely and feeling secure about one's financial future.

• Prosperity: The state of being successful or thriving, often associated with economic wealth and well-being.

Example: The country experienced a period of prosperity following significant economic reforms.

• Endure: To suffer (something painful or difficult) patiently or without giving up.

Example: Despite facing financial hardships, she endured with resilience and determination.

• Gauge: To estimate or determine the magnitude, amount, or extent of something.

Example: It can be challenging to gauge the true extent of income inequality without comprehensive data and analysis.

Questions:

Discussing Income Inequality:

1. 1. What are your thoughts on income inequality in our society, especially during times of economic growth?

   2. Have you noticed any disparities in income levels among people you know or in your community?

   3. How do you think income inequality affects people's perceptions of their financial well-being?

Exploring the Impact of Rising Costs:

1. 4. How do you feel about the rising cost of living, such as housing, healthcare, and education expenses?

   5. Have you experienced any challenges in managing your finances due to increasing living expenses?

   6. What do you think can be done to address the issue of rising costs in relation to income growth?

Addressing Job Insecurity:

1. 7. Have you ever experienced job insecurity or know someone who has during times of economic prosperity?

   8. How does job insecurity affect individuals and families, both financially and emotionally?

   9. What steps do you think can be taken to alleviate job insecurity in a strong economy?

Reflecting on Personal Financial Circumstances:

1. 10. How do your personal financial circumstances influence your overall sense of financial well-being?

   11. Have you ever felt financially strained despite the economy performing well? What factors contributed to that feeling?

   12. What strategies do you employ to manage your finances during times of economic growth?

Discussing Psychological Impact:

1. 13. How do societal expectations and comparisons with others affect your perception of financial success and happiness?

   14. Have you ever felt pressure to meet certain financial standards or benchmarks set by society?

   15. What do you think can be done to promote a healthier mindset around finances and wealth in our society?