Skimm Money: Gas Prices, Inflation, and Holiday Money Boundaries

How the news affects your finances.

Cooling Prices

The latest consumer price index (CPI) report showed that inflation cooled off a little bit last month. While the CPI didn’t change too much month to month, it rose at its slowest pace since July (mainly thanks to lower gas prices). That said, inflation still rose 3.2% from the same time last year. But the good news: Bigger costs (think: housing, cars, and airfare), while still $$$, are easing. Plus, the better-than-expected report has economists saying the Fed may be done raising interest rates this year.

Your move:

• Bargain shop. Prices at the grocery store are still high. Download your go-to store’s app and use coupons to score the best deals. PS: Here are more tips for how to save at the supermarket.

• Plan for large purchases. With home and car prices still high but coming down, it’s a good time to start saving for a down payment. More prep you can do: Make sure your credit score is in tip-top shape and start comparison shopping for the lowest interest rates.

• Save, save, save. High interest rates = your savings BFF. Many high-yield savings accounts are offering over 5% right now. Consider opening one to put your money to work for you while you stash cash away for your larger purchase goals (hi, home or car).

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As you know, Card Verification Value is just one number that can appear on a credit card. What you may not know: The titanium Apple Card doesn’t have any numbers on it. And the digital version has all the advanced security of Apple Pay, including Face ID and Touch ID. Apple Card is designed to be secure in your wallet and your Wallet app. Apply now to see your credit limit offer with no impact to your credit score.†

The Wall Street trends to know this week.

Microsoft shares hit an all-time high this morning after the announcement that Sam Altman, a co-founder of OpenAI, is joining the company to lead an advanced AI research team. ICYMI, Altman was ousted from OpenAI on Friday due to tensions with the company’s board. Experts expect continued market movement this week as the dust settles.

One act of financial self-care you can do in five minutes.

Set your financial boundaries for the holiday season.

Are you giving gifts? How much do you want to spend? Are you traveling to celebrate with loved ones? Set your holiday budget, and discuss expectations with your family and friends. Ex: Can you set a dollar limit on gifts with your family, or arrange a white elephant gift exchange with your friends? Setting your boundaries now will help you get a handle on your finances before the stress of the holidays sets in.

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