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This week’s money news

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This week’s top story: Lousy customer service ‘designed for you to give up.’ In other news: What home shoppers need to know about the new buyer’s contracts, weekly mortgage rates tumble, and how to get your finances back on track for fall.

Biden Official: Lousy Customer Service ‘Designed For You to Give Up’
New government actions target “doom loop” customer service calls, fake reviews and subscription cancellations.

What Home Shoppers Need to Know About the New Buyer’s Contracts
Starting Aug. 17, home buyers will set their agents’ commissions and negotiate who will pay.

Weekly Mortgage Rates Tumble; Should You Refinance?
The rapid decrease is likely to set off a wave of refinancing.

How to Get Your Finances Back on Track for Fall
Reviewing spending and preparing for big expenses can help your budget recover from summertime.

Sneaky ways inflation affects your money in 2023

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By now, you’re probably familiar with the more obvious ways inflation affects your finances. Your money doesn’t go as far at the grocery store, for example. Credit card and other variable-rate debt is getting more expensive as the Federal Reserve raises short-term interest rates to combat inflation. Rates are also rising, albeit more slowly, on savings accounts.

But other ways inflation helps or hurts have gotten less attention. In my latest for the Associated Press, learn some of the major changes to watch for in 2023.

Thursday’s need-to-know money news

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Today’s top story: How much it costs to adopt a child. Also in the news: Why money is so confusing, and the true history of credit scores.

How Much Does It Cost to Adopt a Child?
The adoption process can be long and cost anywhere from less than $1,000 to more than $50,000.

Why Is Money So Confusing?
Understanding some of the common barriers, along with strategies to cope, could help you finally get a handle on your finances.

The True History of Credit Scores
Critics contend that the system still has discriminatory effects.

Why is money so confusing?

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Managing money is an essential life skill, yet most U.S. adults would fail a financial literacy test. Consider the results of a survey meant to measure financial literacy, called the TIAA Institute-GFLEC Personal Finance Index. On average, U.S. adults correctly answered only 50% of its financial literacy questions in 2022.

In other words: If you find money confusing, you’re far from alone. But the reasons you’re baffled may have more to do with how our brains work than how money does. In my latest for the Associated Press, understand what could help you to get a handle on your finances.

Wednesday’s need-to-know money news

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Today’s top story: Here’s which airline rewards program gives the most value. Also in the news: The most valuable hotel rewards program in 2022, 5 steps to strengthen your finances, and despite higher wages, inflation gave the average worker a 2.4% pay cut last year.

Here’s Which Airline Rewards Program Gives the Most Value
Alaska, Frontier and Southwest lead the way on cash value per mile.

The Most Valuable Hotel Rewards Programs in 2022
Radisson Rewards America and World of Hyatt lead the way on key measures of value.

5 Steps to Strengthen Your Finances in 2022
In 2022, setting grand financial goals may not be realistic for every budget, but there are still smart steps you can take to shore up your finances.

Despite higher wages, inflation gave the average worker a 2.4% pay cut last year
Inflation grew 7% in December from a year earlier, the U.S. Department of Labor said Wednesday.

Thursday’s need-to-know money news

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Today’s top story: 4 ways to fortify your finances against natural disasters. Also in the news: What ‘Medicare For All’ could mean for your healthcare, 8 times to rethink asking for a credit card product change, and the risks of crypto loans.

4 Ways to Fortify Your Finances Against Natural Disaster
A “go bag” for your money.

What ‘Medicare for All’ Could Mean for Your Health Care
The much-discussed proposal calls for universal single-payer health care. If enacted, what would it mean for you?

8 Times to Rethink Asking for a Credit Card Product Change
Switching to a different credit card can make sense in many circumstances. But here are times when it’s not the best option.

Crypto Loans Unlock Cash, but They Carry Risks
Borrowing against your crypto is possible, but its unstable value makes it a risky option.