ALL THE MONEY NEWS YOU NEED TO KNOW | | | |
Welcome to a new week. This is Betty Lin-Fisher with the day's top headlines. |
TikTok is known for a lot of things, but investing advice? |
TikTok has emerged as an unlikely mecca for personal finance advice. One TikToker donned pigtails to demystify investment advice. Another appraised the field of S&P 500 investment funds in 56 seconds. |
While some videos are inspirational or innocuous, others veer into potentially risky advice about investments, insurance, and taxes, topics that might better be left to the pros. |
"It's scary, because it's so unregulated," said Catherine Valega, a certified financial planner in Boston, Massachusetts. "And the people who post, you click through, and maybe they've paid off a student loan, but they have no credentials, in most cases." | Financial advice offered on TikTok, under the hashtag FinTok, ranges from benign to potentially risky. SEBASTIEN BOZON, AFP via Getty Images |
Cost of Thanksgiving continues to rise |
The cost of this year's Thanksgiving Day feast is going to be more expensive than last year's dinner. |
According to Wells Fargo Consumer Thanksgiving report , "There are record price spreads between the wholesale price supermarkets pay versus the retail prices consumers pay – and the difference is impacting some of the most popular holiday dishes, including turkey and ham." |
Although 2023 estimates are not yet available, the Consumer Price Index shows food-at-home prices up 2.4% this year. |
Even as the pace of rising grocery prices has slowed in recent months, the Bureau of Labor Statistics found that grocery prices were up nearly 17% in the past two years. |
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Cantaloupes sold in at least 10 states are being recalled due to a possible salmonella contamination. |
Sofia Produce LLC, which operates under the name Trufresh, said the cantaloupes were distributed directly to Arizona, California, Maryland, New Jersey, Tennessee, Illinois, Michigan, Wisconsin, Texas and Florida, as well as Canada. |
The FDA said the cantaloupes were sold packaged in cardboard containers labeled with the "Malichita" label between Oct. 16-23. |
The cantaloupes also have an individual PLU sticker placed upon each fruit. The top half of the sticker is white and has the word "Malichita" written in script in black letters, while the bottom of the sticker is black and has the number 4050 prominently displayed in white letters together with the words "Product of Mexico/produit du Mexique." |
No illnesses have been reported, but consumers who have purchased the recalled products are advised not to eat or serve the cantaloupes, and are encouraged to either throw them out or return them to the location where they were purchased. |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Thanksgiving side dishes are expected to be 4% more expensive in 2023 compared to last year. | | | | Take some time to check this list of things to do before Dec. 31 to save on your taxes, experts say. | | | | Since the height of the COVID pandemic, travelers' motivations have changes and they're shaping their trips differently. | | | | When someone says "Black Friday," you may think of holiday shopping chaos. But how did the day get its name? Here's the true story. | | | | If you can answer these questions, you're ready to start taking Social Security. | | | | Sofia Produce LLC, which operates under the name Trufresh, is recalling cantaloupes due to possible salmonella contamination. | | | | Looking to celebrate your birthday with free things? Check these freebies out. | | | | Aldi has loyal fans who like to share how they've saved on deals. Here's some tips before you go. | | | | Unlike a few years ago when shoppers had to leave Thanksgiving dinner early to get to the stores, more stores are opting to stay closed this year. | | | | | | | 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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