ALL THE MONEY NEWS YOU NEED TO KNOW | |
Good morning and welcome to a new week. This is Betty Lin-Fisher . I'll be bringing you The Daily Money all this week as my colleague Daniel de Visé gets some well-deserved time off. |
But Daniel has plenty of great stories to share. Here's one: |
In 1 of every 4 large American cities, a family can earn six figures and still feel broke. That's the takeaway from an analysis by LendingTree, the personal finance site, which measured monthly expenses in the 100 largest metropolitan areas. |
In 25 of those 100 cities, average monthly spending on basic expenses exceeds monthly income for a family of three that is earning $100,000, the report found. | Apr 28, 2021; Cleveland, Ohio, USA; A general aerial view of the downtown skyline and Cuyahoga River. Kirby Lee, Kirby Lee-USA TODAY Sports |
Here's deals to celebrate Cinco de Mayo |
Happy Cinco de Mayo. Many think of it as Mexico's equivalent to the fourth of July in the United States, but it's not, reports my colleague Mike Snider. Today, May 5, marks an important battle in Mexico's battle against the French and helped prevent the French from settling in and helping the American Confederacy in the Civil War, according to History.com. |
Of course, Americans like to celebrate Cinco de Mayo with food and drink. |
How much will tariffs add to new auto costs? |
A Michigan economics group, calculating tariff impact after President Donald Trump's latest executive orders, has estimated that the least-impacted vehicles will still face a $2,000 tariff and the most impacted will see a tariff of $15,000. |
That includes changes Trump made on April 29 intended to provide some relief to automakers who assemble vehicles in the United States but use foreign parts in them. |
📰 Consumer stories you shouldn't miss 📰 |
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. | | A $100,000 income is well above average for an American family. In 25 large cities, it doesn't go far enough. | | Cinco de Mayo food specials near you include Taco Bell, Chipotle, Moe's Southwest Grill and other restaurants and food stops. | | | | Anderson Economic Group has done the math based on the amended tariff policy from the White House and here is how it will impact each car. | | | | Canadians are foregoing their favorite American products in anger at President Donald Trump. The boycott could impact the U.S. economy. | | | | Seriously delinquent student loans are at a record high just as involuntary collections resume. Many borrowers are at risk of a dropping credit score. | | | | Americans who don't have a REAL ID yet can still use these acceptable alternatives of identification at U.S. airports. | | | | Retirement advisors have the training required to help you remain financially comfortable. | | | | United's CEO blamed the Newark flight cancellations on government equipment failures coupled with air traffic controllers walking off the job. | | | | Warren Buffett criticized tariffs and trade wars during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, on May 4. | | | | 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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