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Monday 10 June 2024

Are you guilty of financial infidelity?

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Plus: What does it really take to retire? ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Jun 10 2024

 

Betty Lin-Fisher Consumer reporter

@blinfisher

Good morning and welcome to a new week! This is Betty Lin-Fisher with The Daily Money.

When Ed Coambs was starting his financial therapy practice several years ago, he and his wife agreed to use credit cards to help him get started. But things were tougher than Coambs thought, and soon he was $30,000 in credit card debt instead of their agreed-upon amount of $10,000.

Coambs had committed what is called financial infidelity.

Find out what financial infidelity is and how you can tackle the problem in the latest installment of our Uncomfortable Conversations About Money series.

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If you're spending money and keeping it a secret from your partner, you could be committing financial infidelity.

Ingram Publishing, Getty Images/Ingram Publishing

How much do you really need to retire?

Do you really need a nest egg of $1 million before you can retire?

One prominent economist is debunking the theory of financial experts and saying retirees are doing just fine on way less than a cool million.

Read more about these retirees and how they're managing.

📰 Consumer stories you shouldn't miss 📰

Is there a break in the housing market?
See how the economy is going leading into this week's Fed decision.
Somebody's watching you. Connected cars are collecting data.
Inflation is causing people to scrimp – and splurge.
The hidden costs of homeownership are skyrocketing.

🍔 Today's Menu 🍔

Most domestic flights no longer offer free meals, but it's not accurate to say meals aren't served on flights. My colleague Zach Wichter breaks down what is offered on the four major U.S. airlines.

About The Daily Money

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.

Are you keeping secrets about finances? That's financial infidelity.

This month's Uncomfortable Conversations about Money tackles financial infidelity -- and how to come clean.

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Canadian man who is a casual lottery player becomes father of two and millionaire in same day
 

Good news for non-millionaires: You might not have to be one to retire

A prominent economist argues that you can retire on savings much less than $1 million.

SAN ANSELMO, CALIFORNIA - FEBRUARY 05: A sign is posted in front of a home for sale on February 05, 2024 in San Anselmo, California. According to a report by Mortgage News Daily, the average rate for a 30-year fixed mortgage inched over 7 percent to 7.04 percent today for the first time since December.
 

Finally, good news for homebuyers

There's little to like about the housing market, except for one small positive: more affordable homes are coming onto the market. Here's where.

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Where the economy stands as the Fed readies interest rate decision

Monthly job growth surprised economists who expected thousands fewer jobs. Here's how that could impact the Fed's interest rate decision this week.

06 Driver Data Privacy
 

Watching you: Connected cars can tell when you're having sex

Car companies collect a wide range of driver and passenger data—and now are under scrutiny by privacy advocates, the media, and the feds.

A shopper holding bags on an escalator in a mall.
 

As inflation persists, Americans are scrimping. And splurging.

Three years after pandemic-driven shortages pushed inflation to a 40-year high, the American consumer has become a study in contradictions.

Roof repairs and replacement are among the more costly home maintenance expenses.
 

Hidden homeownership costs are rising. Here's how they stack up.

The costs to maintain a home varies widely by state -- and have increased in the last four years, according to a new Bankrate study.

Customers line up to enter GameStop in Turkey Creek on Black Friday, Nov. 27, 2020.
 

GameStop tanks almost 40% as 'Roaring Kitty' fails to spark enthusiasm

Volatile trading in GameStop and other stocks since Gill's social media return shows some still have appetite for risky trades on struggling companies.

A Costco customer browses the book section during the store's grand opening day, Friday morning, June 28, 2019.
 

Costco keeping the $1.50 hot dog but cutting back on book sales

Costco is planning to cut back on how often it sells books, starting in January.

Delta's domestic first class lunch and dinner options include short ribs, feta and pecan salad and cheese pie.
 

On some flights you still get a meal, even in economy

Here are the food service plans of four major U.S. airlines.

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