ALL THE MONEY NEWS YOU NEED TO KNOW | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
Americans are worrying more about Social Security, and the Trump administration may be partly to blame. |
Two new surveys show Americans losing confidence in the future of the retirement trust fund. Young people have long feared Social Security won't be there when the time comes. Right now, however, older people have concerns of their own. |
That new car-loan tax break is not so simple |
That new tax break on car loan interest comes equipped with a trunk full of caveats. |
How much you might, or might not, benefit depends on how much money you borrow, your interest rate on the loan, and how much money you're making now and in the next few years. |
📰 More stories you shouldn't miss 📰 |
Finally, here's a popular story from 2024 that you may have missed. Read it! Share it! |
Many American consumers fail to grasp the basic math of inflation, according to a large-scale study of financial literacy. |
The FINRA Investor Education Foundation, a financial education nonprofit, administered a seven-question quiz to 25,500 adults, testing their knowledge of consumer finance. The results: Three in ten test-takers missed a simple question about interest rates. Two in five flubbed a question about inflation. An item on compound interest stumped 71% of consumers. |
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | Americans are worrying more about Social Security, and the Trump administration may be partly to blame. | | President Donald Trump rolled out the idea for a new tax break on car loans during a 2024 campaign stop in Detroit. Here's how the new law works. | | | | Most of the questions on a seven-item financial literacy quiz involve elementary math. Only 4% of Americans got all seven right. | | | | Shoppers are getting an early start on back-to-school shopping and also pulling back on some items. | | | | Lawsuit claims Costco is infringing on its trademarks, trade dress and design patents from Lulelemon's Define jacket, Scuba hoodie and ABC pants. | | | | Miller Lite is celebrating its 50th anniversary by offering 50,000 free beers at 450 bars across the United Stated on August 1. | | | | Singapore's once again ranks as the strongest passport in the world, according to the Henley Passport Index. Here's where the US falls. | | | | The Coast FIRE strategy isn't a bad approach to retirement savings at all. But it's also important to know when you've saved enough. | | | | One of Costco's most popular perks is its "risk-free 100% satisfaction guarantee" return policy. It's also one of its most controversial. | | | | Our app gives you award-winning coverage, crosswords, audio storytelling, eNewspaper and more. | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | |
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