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. |
Owning a car isn't cheap. |
Auto insurance costs are up more than 50% over the past four years, Bailey Schulz reports. New vehicles jumped 20% in price during that time. Driving is getting costlier, too, with gas prices averaging more than $3.50 and maintenance costs rising because of labor shortages and the shift to more computerized vehicles. |
Inflation pushes teens into the workforce |
At 18, Michelle Chen covers her cell phone bills as well as school expenses. She squirrels away money for college. And, with her earnings from a summer job, she helps her parents by stocking the fridge with groceries and makes sure her two younger brothers have pocket money. |
With consumer prices up more than 20% over the last three years, more teens are getting jobs to help out parents feeling the financial pinch, Bailey Schulz and Jessica Guynn report. |
📰 More stories you shouldn't miss 📰 |
We're going to wrap up with a recap of Friday's massive tech outage, which even briefly affected operations here at The Daily Money. (Our system locked up right as Betty Lin-Fisher and I were finishing a report on said outage. A reboot set things right.) |
It all started with a software update. |
Microsoft's "blue screen of death" upended government services and businesses across the country Friday, disrupting emergency call centers, banks, airlines and hospitals. |
While Microsoft said a faulty software update from U.S. cybersecurity firm CrowdStrike was responsible for the major IT outage, the incident brought attention to just how big of a market share both companies have in their respective sectors. |
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. | | | | While cars are essential for most U.S. households, there's a small group of Americans who are ditching their automobiles to save money. | | | |  | For Gen Z, summer can be a time to take a break. But in families feeling the financial heat, more teens are working to help pay for rent and groceries | | | | Microsoft's "blue screen of death" hit businesses and governments around the world Friday. How one software update led to so much chaos. | | | | A broad array of consumer services went awry in Friday's tech outage, from healthcare appointments to coffee orders to 911 calls. | | | | Some analysts said markets could benefit from an increased chance of divided government under the next administration. | | | | President Biden ended his reelection campaign on Sunday Here are comments from investors. | | | | A new study by NerdWallet says 22 percent of Americans would boycott a business that uses dynamic pricing. But they could be missing out on deals. | | | | Maxing out your 401(k) can increase your retirement savings but there may be better ways to do it. | | | | Several U.S. carriers issued ground stops for all their flights early on Friday following a global tech outage, which caused a domino effect for some. | | | | Netflix is canceling its $11.99 monthly basic subscription for streaming without ads. Subscribers will need to opt for another option. | | | | |  | 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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