Women own less, save less, carry more debt, and are less financially literate than men. That changes now.
follow the money
How the news affects your finances.
The Cost of Car Ownership
You’re not imagining it, owning a car has gotten a lot more expensive. The average cost is now over $12,000 a year, up more than 13% from 2022. Why? Partly because disruptions to supply chains have made parts scarce, driving up prices not only for new car purchases but also for repairs to older vehicles. See also: Rising car insurance premiums and $$$ auto loans. On the bright side, the tentative deal struck between UAW and the Big Three carmakers could settle some of the recent disruptions to supply and demand and keep prices stable.
Your move:
Maintain it. Because some car parts are in short supply, it can pay to be proactive about maintenance. Experts recommend setting aside at least $50 a month to save for routine tune-ups and following your car manufacturer’s recommended maintenance schedule.
Save on insurance. Car insurance premiums are high right now. If you've got a great credit score (think: 740 or above) or a clean driving record, shop around to get the best rate. PS: Take advantage of discounts (ex: bundling your home and auto insurance) if you can.
Sell it. Depending on where you live, it might make more sense to hop on the rideshare bandwagon, order those groceries, and rent a car for those weekend getaways. Crunch the numbers, and you might just find that it's time to sell your car. Maybe even for top dollar.
for the group chat
The money stories everyone’s talking about.
Lots of workers dream of a four-day workweek…
The price of turkey is down this year…
But if you’re hosting Thanksgiving, it will still cost you $$$.
Interest rates are keeping homeownership out of reach…
So what do you do when you have a pile of money saved for a down payment?
Female founders of color…
Are picking up where corporate America left off.
market update
The Wall Street trends to know this week.
Major stock indexes fell this morning after Moody’s Investor Service lowered the US’s credit rating from “stable” to “negative” on Friday. The reasons for the downgrade: High interest rates, the national deficit, and political gridlock. Seem familiar? Back in August, ratings firm Fitch knocked the US’s credit rating from AAA to AA+. Next up: Tomorrow’s release of CPI data could shake up the market even more.
5-minute money tip
Up your credit card game before the holidays.*
Between gifts, travel, outfits, food, and decorations, you might have some extra expenses in the coming weeks. Which makes now a great time to sign up for a credit card that’ll reward you for spending. We’ve got our eye on Apple Card. You can get up to 3% unlimited Daily Cash back on every purchase, every day. That’s real cash (not points), which can grow at 4.15% APY when you open a high-yield Savings account with Apple Card. Did we mention there’s no fees? Plus you can apply to Apple Card and use it right away with Apple Pay.†
†Terms apply. Savings provided by Goldman Sachs Bank USA. Member FDIC.
*PS: This is a sponsored post.
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