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Friday 15 March 2024

Do you hoard credit-card perks?

07:37

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Why that may not be a good idea. ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Fri Mar 15 2024

 

Betty Lin-Fisher Consumer reporter

@blinfisher

Good morning and welcome to Friday's The Daily Money. This is Betty Lin-Fisher. Each Friday, I will bring you a consumer-focused edition of this newsletter.

If you have a credit card that earns rewards, are you a spender or a hoarder?

According to a new study, two-thirds of Americans are hoarding rewards. But if you're doing that while still carrying debt, that's a losing strategy, my colleague Medora Lee explains in a story published this morning.

Learn more here.

Syndication USA Today

If you're hoarding your credit card rewards, especially if you carry debt, that's a losing strategy, according to an expert.

Andy Manis/ USA TODAY

Uber, Lyft to leave Minneapolis on May 1

After May 1, if you're in Minneapolis you're going to have to find a different way to get around if you rely on ride-sharing services.

Uber and Lyft both announced they'd be leaving one of the Twin Cities after the Minneapolis City Council voted to override a mayoral veto and require the ride-sharing services to enact a pay raise for its drivers.

Find out more in this story.

📰 Consumer stories you shouldn't miss 📰

Carmakers are tracking and sharing drivers' behavior and reporting to insurance companies – sometimes without consent, the New York Times reports.
Did you have insurance through the Affordable Care Act marketplace in 2023? What you need to know about taxes.
Want to learn how to do the cash-envelope system for budgeting?
McDonalds restaurants around the world are experiencing an outage this morning.
How green is your next vacation?

🍔 Today's Menu 🍔

With so many alternatives to cow's milk, is milk bad for you? Check out this story, in which a dietician talks about the nutritional value of cow's milk and reasons why you may want to look at alternatives.

About The Daily Money

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.

Credit card debt is soaring in the face of rising inflation. Interest rates for credit card debt are at an all-time high.

Two out of three Americans with credit card debt chase rewards in hopes of earning a freebie. Here's why financial experts say it's "a big mistake."

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Rideshare companies Uber and Lyft have both said they would be ceasing operations in Minneapolis on May 1 due to a dispute over driver wages.
 

Uber, Lyft say they will leave Minneapolis over driver wages dispute

Rideshare companies Uber and Lyft have both said they would be ceasing operations in Minneapolis on May 1 due to a dispute over driver wages.

Tax time is upon us, eliciting exasperation and anxiety among taxpayers. As much as people detest paying taxes, they are needed so that governments can fund necessary services. Among the many services and public projects, taxes are used to build roads, pay for schools and educators' salaries, and defend our nation. ( These are the most common tax mistakes people make. ) Whether it is property taxes, sales taxes, income taxes, or other   levies, just about everyone pays at least one form of taxes. Local tax decisions are determined by the needs, policies, and priorities of each locality. Because of this, the tax burden can vary from state to state and county to county.  To determine the county with the highest tax bill in every state, 24/7 Wall St. reviewed data on annual expenses from the Economic Policy Institute's  Family Budget Calculator . Counties were ranked based on the estimated annual tax costs for a two-parent, two-child family in 2020. EPI's tax estimates are based on the National Bureau of Economic Research's TAXSIM microsimulation model.  We added data on total annual expenses for a family of four, also from   the EPI, which include the estimated cost of housing, food, transportation, health care, child care, and other expenses necessary to attain a modest yet adequate standard of living. Median household income figures are five-year estimates from the Census Bureau's 2020 American Community Survey.  In four of the counties on the list, annual tax expenses for a family of four exceed $20,000. San Mateo County in the San Francisco Bay area of California levies the highest tax amount of any county in the country -- a whopping $33,864 in annual tax expenses for a family of four. Residents are able to absorb the high tax amount because the county's median household income is $128,091, the highest of   any county on the list.  While in San Mateo County residents pay 26% of their income in taxes, in New York County, home to New York City, the tax burden is even higher. In New York County, annual tax expenses total $28,584, or 32% of median household income. ( These are states with the highest and lowest property taxes. )  The tax load is significantly lighter in other counties. In Delaware County, Ohio; Williamson County, Tennessee; and Rockwall County, Texas, about 8% of residents' income goes to taxes.
 

A Marketplace health plan may influence your tax refund or amount owed

If you had a Marketplace health plan and received an advance premium tax credit, file your taxes to see if you're due a refund or owe money from it.

A sign on the door of a McDonald's as a person enters after earlier problems in the fast food restaurant, in Bangkok, Friday, March 15, 2024. System failures at McDonald's have been reported worldwide, shuttering some restaurants for hours and leading to social media complaints. The fast food chain called the problems Friday a
 

McDonald's 'aware' of outages impacting some restaurants globally

McDonald's Corporation has been experiencing global tech problems Friday. The company says the issue is being resolved, but customers are hungry.

Minimalist cartoon of a surprised man standing in front of a green hotel.
 

What is travel greenwashing? Here's how to spot it.

Greenwashing, or making exaggerated claims about your sustainability to attract visitors, is everywhere in the travel industry.

jug of milk with an old country table, a white drink is poured into a glass
 

Is milk bad for you? What a nutrition expert wants you to know

There are slews of milk alternatives in the dairy aisle. Does that mean regular ol' cow's milk is bad for you?

Then-Knox County Mayor Tim Burchett watches for the total solar eclipse in 2017 during a watch party in Tennessee.
 

Total solar eclipse public events across the US

From Texas to Maine, towns and cities across the nation are gearing up for the total solar eclipse with numerous events and viewing parties.

A sample of Singapore Airlines' new premium economy menu items for the Americas on display in Singapore.
 

This airline is updating its premium economy menus and amenities

Singapore Airlines will overhaul its premium economy menus and amenity kits later this month.

 

Which AI is best? Our tech expert put three free versions to the test

Kim Komando puts three free versions of artificial intelligence – ChatGPT, Gemini and Perplexity – to the test to see which is best.

Christina Cobb was shopping at the Patagonia store in New York city which uses recycled materials in its clothing. She bought at a Guppyfriend Washing Bag.
 

Patagonia employees in Nevada vote to form a union, a first for the company

Employees at a Patagonia store in Reno, Nevada have voted to unionize, making it the first location to seek labor union representation.

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