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Author: Maurie Backman

  • I’m 22 and want to move out of my parents’ house, but I can’t afford rent because my car payments are too high — what can I do to lower my auto and living costs?

    I’m 22 and want to move out of my parents’ house, but I can’t afford rent because my car payments are too high — what can I do to lower my auto and living costs?

    The past few years have been wrought with rampant inflation, and many Americans are having a hard time paying their bills.

    In a February CBS News and YouGov poll, 77% of Americans said their income isn’t keeping up with inflation. And a March survey from Equitable found that 80% of Americans across all income levels are worried about rising living costs.

    Life can be especially challenging for young adults who are just starting their careers and craving independence. Suddenly, the burden is on you to pay for every little expense. And what if you realize you can’t afford everything you need?

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    Imagine you’re 22 years old and you’re ready to move out of your parents’ house, but you’ve done the math and discovered you can’t afford a place of your own. One of the reasons is your car payments eat up too much of your income — but you need wheels to get to work every day.

    So, what can you do to lower your auto costs? And can you do anything to lower your living costs as well?

    Tackling high car payments

    A number of things may be contributing to high transportation costs at that age. Let’s focus on your auto loan and car insurance.

    Insurance premiums tend to be higher for less-experienced drivers, as they’re deemed more likely to get into accidents. Companies can also assess risk based on a car’s make, model and safety features. A high-end car that’s expensive to repair or a car with a high theft rate result in higher premiums.

    If you want to try cutting down on your insurance bill, you can start by collecting quotes from multiple companies and select the best deal. Don’t be afraid to negotiate, either, especially if you have a good driving record thus far. Ask if there are any further options for lowering your monthly payments.

    As for your car loan, even as borrowing rates remain elevated, you may be able to refinance for a better deal if your credit score has improved since you bought the vehicle. What kind of car do you have? If it’s new or expensive, you may want to consider swapping it with a cheaper option.

    Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

    Rent options

    If you’re in a situation where you can take your time to find a new place to live, it can pay to be patient and wait for the right rental opportunity to come along.

    But if you’re still unable to find something in your price range, you might need to adjust your expectations. That could mean living in a different neighborhood than you wanted or a much smaller space with fewer amenities close by.

    Still can’t find what you want? It might be time to put those dreams of living by yourself on hold. Co-habitating with roommates may not be ideal for everyone, but it’s a great way to cut down on living expenses. Not only does the rent get split, but you may be able to save on general household expenses.

    Take control of your finances

    If you feel like you’re drowning and can’t keep up with your bills, there are further steps you can take to improve your situation.

    First, get yourself on a budget so you can track every dollar spent. Next, review your spending and identify ways to cut back. Chances are, there are some discretionary expenses you can reduce, whether it’s dining out or paying for subscription or streaming services. And along those lines, do a spending audit to make sure you aren’t paying for services you don’t use.

    If you want to boost your monthly income, you may also want to look at getting a side hustle. This can allow you to afford and save more for yourself.

    And if you can swing it, it’s a good idea to start an emergency fund. This may take time if you’re in a position where you can barely cover rent and car payments. But the point of an emergency fund is to provide a cushion in case of an unplanned expense so you don’t fall deep into debt.

    What to read next

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    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Utah father, son at center of $300 million oil smuggling case ‘Operation Liquid Death’ now facing terrorism charges for links to Mexican cartel currently in Trump’s crosshairs

    Utah father, son at center of $300 million oil smuggling case ‘Operation Liquid Death’ now facing terrorism charges for links to Mexican cartel currently in Trump’s crosshairs

    In April 2025, the Jensen family faced serious legal troubles when James and Kelly Jensen, together with their sons Maxwell and Zachary, were charged with money laundering. The family stands accused of orchestrating a sophisticated $300 million fraud scheme involving the illegal transportation of crude oil from Mexico.

    Jensen’s company, Arroyo Terminals, served as an ideal conduit for the operation. According to CBS 4, the crude oil was transported via barges from the company’s Rio Hondo facility to various buyers throughout Texas. Federal agents conducted a raid on Arroyo Terminals on April 23.

    However, CBS 4 now reports that charges against Kelly Anne and Zachary are being dismissed "in the interest of justice."

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    An evolving situation

    The Jensen family has been accused of masterminding a $300 million crude oil smuggling operation that prosecutors called “Operation Liquid Death,” according to MySanAntonio.com.

    In late April, U.S. Marshals apprehended James and Kelly at their sprawling 27,000-square-foot estate. The couple, along with their children Maxwell and Zachary, face indictments for money laundering and criminal charges stemming from activities beginning in May 2022.

    According to court filings, the family facilitated approximately 2,900 shipments of crude oil into the United States while directing payments to enterprises connected to Mexican criminal organizations.

    “They were entering into agreements with conspirators — unindicted conspirators — to bring mislabeled crude oil from Mexico into the United States,” Assistant U.S. Attorney Michael Hess said during an April 24 hearing.

    Paperwork described the shipments as “waste oil,” Hess said, not crude oil.

    “This is significant mainly because the government of Mexico, through its oil company, PEMEX, will not allow for crude oil to enter into the United States, except through very limited agreements with oil and gas companies,” Hess said.

    This wasn’t James’ first encounter with legal trouble regarding petroleum products. In 2011, PEMEX filed a lawsuit against him, alleging theft of natural gas condensate. James maintained his innocence throughout the proceedings, and the case was ultimately dismissed in 2013 due to insufficient evidence.

    Maxwell, who co-owned Arroyo Terminals, was said to have had "significant ties to Mexico,” according to Assistant U.S. Attorney Laura Garcia.

    The Jensen family unanimously entered pleas of not guilty to all allegations. Subsequently, prosecutors filed an amended indictment against James and Maxwell, charging them with providing support to the Cartel de Jalisco Nueva Generacion (CJNG), which has been designated as a foreign terrorist organization. A conviction on this terrorism charge could result in a 20-year federal prison sentence for both men.

    Recently, the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has imposed sanctions on five leaders of CJNG. This cartel is known for its extreme violence and controls a substantial portion of the fentanyl and other illegal drug trade entering the United States.

    On May 27, authorities dropped all charges against Kelly and Zachary Jensen. When questioned about this development, a representative from the U.S. Attorney’s Office declined to provide further details.

    Prosecutors are pursuing a $300 million judgment against James and Maxwell Jensen. Their seizure targets include two bank accounts, three commercial trucks, four tank barges, and more than 80,000 barrels of crude oil.

    The government is also seeking to confiscate numerous Jensen family assets, including their mansion in Sandy, Utah, a home in Draper, Utah, a substantial property in Jackson, Wyoming, a luxury vehicle, and the Arroyo Terminals property.

    Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

    How oil scams affect you

    The Transnational Alliance to Combat Illicit Trade reports that illegal crude oil trading generates between $5.2 billion and $11.9 billion annually, with criminals stealing approximately 99 to 227 million barrels of oil each year.

    According to Windward AI, oil smuggling occurs in various forms: concealing oil in hidden ship compartments, conducting illegal ship-to-ship transfers, or using fraudulent documentation to transport oil—the latter method apparently employed by the Jensens.

    Beyond its illegality, oil smuggling significantly disrupts supply chains. When border authorities investigate suspected smuggling, legitimate shipments face delays, increasing suppliers’ costs that ultimately get passed on to consumers.

    The Energy Information Administration notes that crude oil constitutes over 52% of gasoline pump prices. Smuggled oil can increase crude prices, making gasoline more expensive. Additionally, smuggled crude often fails to meet quality standards, resulting in potentially unsafe fuel.

    Poor-quality gasoline can do more than just reduce your vehicle’s performance—it can cause serious damage. Your car might stall in dangerous situations, such as highway driving, or experience other issues including failure to start, delayed gear shifts, and acceleration problems.

    Extensive engine damage from contaminated fuel can lead to substantial repair costs. Consumer Affairs estimates engine replacement typically costs between $5,000 and $10,000, with final expenses varying based on whether your vehicle is new or used and your specific engine type.

    Consequently, combating illegal crude oil smuggling isn’t solely about preventing criminal profit — it’s also about ensuring vehicle safety and protecting drivers from potentially devastating repair expenses that many cannot afford.

    What to read next

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    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • Cincinnati mom tells Ramsey Show her husband of 10 years refuses to give her access to their accounts — she doesn’t even know how much money he makes. Why their issue goes beyond finances

    Cincinnati mom tells Ramsey Show her husband of 10 years refuses to give her access to their accounts — she doesn’t even know how much money he makes. Why their issue goes beyond finances

    When you get married, your hope is that you and your spouse will treat each other like equals. But that doesn’t always end up being the case.

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    Recently, Nicole from Cincinnati called into The Ramsey Show to ask for advice about her marriage. She asked co-hosts Jade Warshaw and Rachel Cruze, "How do I get my husband to honor the financial commitment that we made together as newlyweds?"

    Nicole explained that her husband does not give her access to their bank accounts. “He’s CashApping me,” she complained, as a means of giving her money on an as-needed basis.

    Not surprisingly, Warshaw and Cruze were quick to point out how troubling that is. And they also had some strong words for Nicole to take to heart.

    When you’re not treated as a financial partner

    Nicole and her husband have been married for 10 years. But after all this time, he won’t combine finances. Worse yet, he won’t even share the details of his finances.

    As a stay-at-home mom, that makes her uncomfortable. There’s also a 25-year age difference between Nicole and her husband, who works in sales at what she assumes is a $100,000 annual salary. Since she doesn’t see his pay stubs or direct deposits, she can’t know for sure.

    Nicole has offered to go back to work, which her husband doesn’t seem to want. Rather, he seems content being the one to work as long as he can control the money.

    Nicole explained that while they have a joint checking account, her husband has a savings account his checks get direct-deposited into. He then transfers money to Nicole on an as-needed basis, and she can’t access that savings account.

    "There’s just part of this that feels really controlling," said Warshaw. "He’s the one that gets the control."

    "You don’t have autonomy to make decisions," said Cruze.

    Nicole explained that her husband had two past marriages that he says didn’t end well financially. That’s what’s driving his behavior, according to him.

    Cruze, however, insisted that Nicole and her spouse should have equal say on financial matters. She also said their issue goes beyond logistics — it’s a matter of commitment.

    "My red flags go up for you," said Cruze. “What if something does go south, you’re the one that gets screwed Nicole.”

    Warshaw suggested that Nicole and her spouse go to counseling to try to work through their issues. But she also said that Nicole needs to demand to have their banking passwords at the very least so she can pay bills on her own and not have to be reliant on her husband for every little thing.

    Given their age gap, it’s not inconceivable that Nicole might outlive her husband. If he doesn’t share financial information with her, she won’t be equipped to pay bills when he’s gone, or to know what her financial reality will be during her own later years.

    Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

    The hidden costs of being financially locked out by a spouse

    Having your spouse control all of your finances isn’t just demeaning. It could also put you in a seriously unfavorable situation, especially if you’re a stay-at-home parent who doesn’t earn an income and spends many years outside of the labor force.

    First, if something happens to your spouse and you can’t access your accounts, you won’t be able to pay your bills. That could mean losing your home, car, or other assets with a secured loan attached to them.

    Second, if you have joint bills but you can’t get access to your money to pay them, your credit score could take a serious dive. From there, you might struggle to borrow money when you need to.

    Even if all of your bills are in your spouse’s name, that’s not great, either. Not having bills in your name could make it difficult to build a credit history, which could also hurt your chances of being able to borrow money when the need arises.

    In 2022, Experian reported that 28 million Americans are credit invisible, meaning they don’t have a credit history. You don’t want to be part of that statistic.

    Also, if you don’t have access to your financial accounts like Nicole, you risk being left in the lurch in the event of a divorce. If you aren’t aware of the assets you have, you can’t claim a legal right to them if you and your spouse split and they try to hide them. Plus, if you don’t have access to money in your name, you’re going to have a difficult time paying for a divorce lawyer.

    When you turn 62, you may be able to claim spousal benefits from Social Security if you were married for 10 years or longer. With spousal benefits, you could get a monthly check from Social Security worth up to 50% of your ex-spouse’s benefit.

    However, that probably won’t be enough to pay your expenses. And if you don’t have a work history, it means you’re unlikely to have much in the way of personal retirement savings.

    Nicole is unfortunately not alone. A Northwestern Mutual study found that only 43% of American women feel financially secure, compared to 59% of men. Just 44% believe they’ll be ready for retirement, compared to 61% of men.

    If you’re married and stay home with your kids, it’s important to have control over your household finances in the same way that your spouse does. Not only should you know what your bills and income look like, but you should have access to bank accounts and investment accounts, too.

    Plus, if you own a home, your name should be on the deed and title. Similarly, the car you drive should be in your name, too.

    Allowing yourself to be kept in the dark only puts you at risk. It’s important to have those conversations with your spouse so you’re not left scrambling if something happens to them, or if your marriage goes awry.

    WomensLaw.org also warns women in long term relationships about financial abuse. They have a list of signs to look out for.

    They count a partner who makes you feel as though you don’t have a right to know any details about money or household resources, puts you on an allowance even if you object, makes you account for all your spending, and prevents you from working as potentially abusive.

    What to read next

    Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • I’m 34 with $80,000 in savings and I want to buy a $400,000 house to rent out. But as a first-time investor, would it be too risky to carry a mortgage on a property I won’t occupy?

    I’m 34 with $80,000 in savings and I want to buy a $400,000 house to rent out. But as a first-time investor, would it be too risky to carry a mortgage on a property I won’t occupy?

    Buying a home is a pricey prospect, even if prices are trending downward. According to the Canadian Real Estate Association, the national average home price sat at $668,097 in February 2025, a 3.3% decrease from the year prior.

    If you’re 34 with $80,000 saved, you may be thinking of using that money to buy a home. That amount would allow you to put up to 20% down on a $400,000 home.

    Now, it’s one thing to use all of your money to buy a home you’ll be living in. But if you’re thinking of buying an investment property, it can be risky — even if you’re confident you can charge enough rent to cover your mortgage costs. So, it’s important to weigh your options carefully.

    The pros and cons of rental properties

    There are a number of benefits to owning a home you rent out. First, the amount you charge can be put toward the home’s mortgage, all while you get to be the one who builds equity in the home.

    Eventually, you might walk away with a large profit or end up with a home that is fully paid-off in time for retirement.

    As the landlord, you’ll have the right to not renew tenant leases and occupy the home if you so choose. You may not need to live in the home you’re buying now because you have a cheap rental elsewhere, or you live with a romantic partner. But if your situation changes, your home is something you can fall back on.

    Furthermore, if you’re renting out your home, you can deduct certain costs on your taxes — these include maintenance expenses and repairs.

    On the other hand, buying a rental property potentially means taking a big risk — especially in the situation described above. If you use all of your savings to purchase a home, you risk landing in debt the next time an emergency or unplanned expense arises.

    Speaking of expenses, there are numerous costs associated with owning a home, and there are many you can’t plan for. Property taxes can rise, your insurance costs might increase or an expensive repair might become necessary. Plus, the possibility of a non-property emergency still exists. So, it’s not a good idea to leave yourself without a financial cushion.

    Another thing to consider is that when you own a rental property, you’re not guaranteed steady income. You could wind up with a tenant who doesn’t pay, or you could end up going months in between tenants if one leaves.

    In addition, if you rent out your home, you’re obligated to address tenant concerns as they arise. That could mean interrupting your plans to address any issues. And while you could hire a property manager to do those things for you, that’s yet another cost you’d bear — one that will eat into your profits.

    Being a successful property investor

    While owning a rental property can be risky, there are steps you can take to set yourself up for success.

    Be sure to leave yourself with a solid emergency fund when buying a home. Or, to put it another way, don’t empty your savings completely for a down payment. This can be a life-saver if things go sideways.

    Research the market you’re buying in to see what homes typically rent for and what local vacancy rates are. Talk to a real estate agent if you can’t find the data you need yourself. The more information you have, the better you can price and market your rental units.

    Look for certain neighborhood features, like good schools and access to amenities. If you buy a home in a desirable location, you may be more likely to have it continuously occupied.

    Talk to people who own rental properties and find out what their experience is like. You might think that being a landlord is a role you can handle only to learn that it’s more than what you’ve bargained for. And if so, you’re better off knowing that from the start so you can factor the cost of a property manager into your budget.

    Finally, if you want to take maximum advantage of the tax perks of owning a rental property, you may want to consult with a financial adviser or accountant to ensure you’re getting the most out of your investment.

    Sources

    1. Canadian Real Estate Association: National Price Map

    This article I’m 34 with $80,000 in savings and I want to buy a $400,000 house to rent out. But as a first-time investor, would it be too risky to carry a mortgage on a property I won’t occupy?originally appeared on Money.ca

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • I’m 53 and currently have a lot more saved for retirement than my wife does. How should we strategically save to maximize our gains and meet both our needs?

    I’m 53 and currently have a lot more saved for retirement than my wife does. How should we strategically save to maximize our gains and meet both our needs?

    It’s always a good idea for married couples to be financially aligned when it comes to saving for retirement — even if there’s an age gap in the relationship and one spouse has a higher income or more savings.

    Let’s say you’re 53 — five years older than your spouse — you may have more savings because you’ve been in the workforce longer and have extra years of investment gains. And you may have higher earnings at this point in your career.

    But you also plan on retiring sooner than your spouse. How do you ensure everyone’s financial needs are met? What happens if the marriage crumbles? It’s important to take a fair and strategic approach to saving for retirement in the coming years.

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    Prioritize the right accounts

    Since the goal is likely to maximize your retirement dollars, figuring out which accounts to prioritize is an important part of a smart savings strategy. The first question to ask yourselves is whether each of you is eligible for a workplace retirement plan like a 401(k) that comes with an employer match.

    Employer matching is essentially free money, so it’s important to maximize them when you can. Your first goal should be for each of you to contribute enough to your workplace plan to snag your employer’s match in full.

    From there, you should aim to contribute the maximum each year to any tax-advantaged accounts, including 401(k)s and IRAs. You can prioritize which accounts to fill up first based on past returns, portfolio fees or investment flexibility. That said, IRAs have much lower annual contribution limits than 401(k)s. They currently max out at $7,000 for savers under 50 and $8,000 for those 50 and over, while 401(k)s max out at $23,500 and $31,000, respectively.

    Either way, if your income or personal retirement savings are far ahead of your spouse’s, then you may want to cover more of your joint household expenses out of your paycheck to allow her to pump extra money into her retirement accounts. This assumes that you’re on track to have plenty of money to retire a few years ahead of her.

    Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

    In case things go awry

    You might feel good about your marriage now, but it’s important to keep in mind that things change, and divorces can happen at any age.

    Gray divorce — sometimes called silver divorce — refers to couples over the age of 50 deciding to end a marriage, and it’s on the rise in America.

    Laws vary by state, but absent a prenuptial agreement, assets acquired during marriage are typically considered marital property. That means each spouse could have rights to a portion of contributions or gains to retirement accounts made during the marriage.

    So, even if you end up getting divorced where one spouse has a much larger retirement savings balance than the other, the assets could end up being split — whether equally or equitably. Couples may be able to decide how to divide their assets within a divorce settlement agreement, but it must be agreed to by a judge.

    Even if you plan to spend the rest of your lives together, it’s never a bad idea to cooperate now and create a plan that’s fair to both of your futures.

    What to read next

    Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • This Miami senior, 76, can’t prove she was ever born in America — and her segregation-era birth has trapped her in driver’s license limbo. What to do if you miss the Real ID deadline

    This Miami senior, 76, can’t prove she was ever born in America — and her segregation-era birth has trapped her in driver’s license limbo. What to do if you miss the Real ID deadline

    Janette Gantt Palmer was born at home in 1949, during segregation in Aiken County, South Carolina. Because of this, she was never issued a birth certificate.

    Now, at 76 years old, Gantt Palmer is trying to renew her driver’s license, and she’s hitting a roadblock.

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    The reason? To comply with the new Real ID program, which takes effect on May 7, she needs a birth certificate or passport to prove her identity. But Gantt Palmer doesn’t have either document.

    "After waiting two hours in the line, I said, ‘I’d like to renew my driver’s license.’ ‘Oh no, you need this and you need that,’" Gantt Palmer told CBS News Miami. "For what, what reason? I never had it before."

    An ongoing issue

    This isn’t the first time Gantt Palmer has tried to get a birth certificate. She told CBS she’s been trying to get her hands on one her entire life.

    Without a birth certificate, she can’t get a passport or new license, meaning she doesn’t have the necessary documents for Real ID compliance.

    "Back in those days, we were born at home," she said. "The lady came to your house and helped your mom have the baby."

    Still, the absence of a birth certificate didn’t stop Gantt Palmer from building a career. She worked as a postal worker for 42 years and drove school buses. Her postal worker ID helped her obtain a driver’s license in the past.

    She’s since returned to the DMV multiple times, bringing various documents to prove her identity, including her Social Security card. She also has a letter from the State of South Carolina confirming it found no record of her birth after searching decades of archives.

    The Aiken County Office of Vital Statistics told CBS News Miami it can provide a delayed birth certificate, but it’s a lengthy process. Gantt Palmer would need to gather her school records from the 1950s. She also has the option to go to court and get a judge’s order.

    Florida State Rep. Ashley Gantt — Gantt Palmer’s niece — has been trying to help. She secured a 90-day extension and plans to reach out to a colleague in the South Carolina legislature to see if the process can be expedited..

    Gantt Palmer is also working with U.S. Congressman Mario Diaz-Balart’s office to try to obtain a passport. Regardless of the outcome, she needs to be able to drive.

    For now, she remains hopeful.

    "God’s gonna work it out though," Gantt Palmer told CBS News Miami. "I don’t know how, but I need my driver’s license, I know that much."

    Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

    How the Real ID program works

    Beginning May 7, the REAL ID Act — passed by Congress in 2005 — will finally be enforced. Its goal is to establish minimum security standards for driver’s licenses and other forms of identification.

    A big part is to improve national security and prevent acts of terrorism. But why the nearly 20-year delay? Several factors have contributed, including states arguing they lacked the funding to implement the changes. As a result, extensions were granted over the years.

    In recent years, it seemed the enforcement of REAL ID was ready to move forward. However, in late 2022, the Department of Homeland Security postponed the deadline again, citing significant delays caused by state licensing agencies dealing with backlogs from the COVID-19 pandemic.

    Starting May 7, Americans will need a REAL ID-compliant license to access certain federal facilities, board commercial airplanes and enter nuclear power plants. All states are now issuing REAL ID-compliant driver’s licenses.

    To get one, visit your state’s licensing agency website to check if you need an appointment and what documents are required.

    At a minimum, you’ll need:

    • Proof of your full legal name and date
    • Your Social Security number
    • Two documents showing your current address
    • Proof of lawful status (e.g. immigration documents if you were born outside the U.S.)

    Some states may have additional requirements.

    Without a REAL ID, you won’t be able to board a domestic flight unless you have a passport, passport card or another TSA-accepted form of identification. (This rule doesn’t apply to children under 18.)

    A standard, non-REAL ID driver’s license won’t suffice. You may also be denied access to certain federal buildings or nuclear facilities.

    The TSA said it will use a "phased enforcement" approach starting May 7, though what that looks like remains unclear. To avoid issues, it’s best to have a compliant ID before the deadline.

    What to read next

    Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • This single mom says she was left on the hook for $50,000 on 2 auto loans after she thought she’d refinanced with a New Jersey dealership — and now the dealership is being investigated

    This single mom says she was left on the hook for $50,000 on 2 auto loans after she thought she’d refinanced with a New Jersey dealership — and now the dealership is being investigated

    On June 18, NBC 10 reported that prosecutors are investigating a Burlington County, New Jersey car dealership.

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    Autosmart on Route 73 in Palmyra was served a search warrant and investigators took license plates from the company’s garage and boxes and computers from the office.

    Prosecutors could only confirm that the dealership is under investigation and did not speak to specific charges. They did, however, tell the news station that they’d received several complaints that customers were scammed at the dealership.

    What’s interesting, though, is that NBC 10 was already looking into Autosmart after a viewer reached out with a problem she is facing. And the recent investigation could be related to it.

    What happened?

    Susan Noble asked NBC 10 to investigate an issue related to a car she bought and financed last September through Autosmart.

    "I bought a used car from Autosmart in Palmyra," Noble told NBC 10. "They said they would work with me to get the monthly payment that I wanted at the price I wanted … they said, ‘You can buy the car and in a couple of months you can refinance with us.’"

    Noble said she financed the purchase with American Credit Acceptance (ACA) and went back a few months later as planned to refinance.

    “They said they sent the payoff check to the first company that I financed with,” said Noble. Payoff amount is the total needed to satisfy a debt, including interest and fees.

    But then ACA started texting Noble saying her monthly payment was due or late. She also couldn’t get the title to her car.

    Noble said ACA told her they never received the payoff payment for her loan from Autosmart.

    “They didn’t actually do it, but they continued to make monthly payments on my behalf,” she explained.

    That left Noble with two car loans in her name totaling over $50,000.

    This, she said, is hurting her ability to buy a home.

    "They know how hard I work. They know that I’m a nurse, they know I’m a single mom … for them to do this to me is just unconscionable," she told NBC 10, getting emotional.

    NBC 10 reached out to Autosmart to find out why Noble’s original loan wasn’t paid off when she refinanced through them. A representative from SmartSource, who said they were a consultant for Autosmart, responded and blamed the financial institutions involved.

    On June 3, that representative said the payoff payment would be processed and take 10 days to be paid in full. But Noble said that didn’t happen.

    "I would like to see them, you know, held accountable," she told NBC 10.

    The news station was not able to get an answer about that or the investigation into Autosmart. ACA and Autosmart also did not respond.

    The Burlington County Prosecutor’s Office issued a statement on the Autosmart investigation saying, "No charges have been filed. Members of the public who wish to speak with an investigator concerning their experience with this dealership should contact us at [email protected]."

    It’s worth noting that Autosmart also has an “F” rating on Better Business Bureau with 30 complaints filed against the business.

    One complaint from April 2025 says, "I traded in my 2021 Kia Seltos in December of 2023 and that car loan has not been settled. We signed a contract stating the they would pay the loan off. The company has been paying monthly until January 2025. I have been calling and seeing why that loan hasn’t been paid. The loan has defaulted which has severely damaged my credit score along with the loan company seeking the vehicle and or payoff."

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    Auto loan refinancing scams

    What Noble says happened to her may be an honest mix-up or a sign of a serious mismanagement of funds and fraud. Auto loan refinancing scams are common enough for the Federal Trade Commission to have a page dedicated to them.

    Scam refinancers either promise they’ll get you lower payments on your auto loan, but ask for an advance payment, or they tell you to make your loan payments directly to them and say they’ll pay your lender for you while they negotiate a deal.

    “In reality, scam refinancers aren’t negotiating with your lender or anyone else,” says the FTC. “If you make your monthly car payments to the refinancer instead of your lender, those payments will likely go straight into the scammer’s pockets — not to repay your loan. You may only find out about the fraud when your lender contacts you about missed payments, or your car is repossessed.”

    These scams hurt borrowers and can make their financial situations even worse. For one thing, falling behind on an auto loan could put you at risk of having your car repossessed. It could also damage your credit score, making it harder to borrow money the next time you need to.

    For this reason, it’s important to be careful when dealing with refinancing companies.

    Dealer tactics to look out for

    Auto dealerships have different ways of luring in credit-challenged buyers. They can promise low vehicle prices and low financing rates only to hit you with surprise costs.

    One good way to avoid getting taken for a ride is to read the fine print on your loan documentation. Sometimes, auto dealerships will offer a seemingly attractive interest rate on an auto loan but hit you with hidden fees that drive your costs up.

    Another popular tactic is the yo-yo scam, where you’re told your auto loan is final and you’re allowed to drive the car away. Then, days or weeks later, you’re told that your financing didn’t come through, and that your only option is to sign a new loan with less favorable terms or give back the car.

    You should know that any time you’re pressured to sign a car loan quickly, it should be considered a red flag. Another thing you should know when you’re shopping for a car is that you do not have to finance it through or from the dealership.

    It pays to shop around for your own auto loan to compare rates and there may be advantages to dealing with a lender directly.

    It’s also a good idea to research dealerships before moving forward with a car purchase. Look at the Better Business Bureau, as well as sites like Yelp, to check for complaints and reviews.

    However, if you do get scammed, file a report with the FTC as well as your state attorney general’s office.

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    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • ‘It does kind of make me the breadwinner’: Stay-at-home mom charges husband $2,700 a week for household labor — sparking a debate on TikTok

    ‘It does kind of make me the breadwinner’: Stay-at-home mom charges husband $2,700 a week for household labor — sparking a debate on TikTok

    Being a stay-at-home parent can often be a thankless job.

    From the moment you get up in the morning to the moment you go to bed, you’re either chasing after a child, preparing meals or doing some sort of household task — many of which involve scrubbing food particles off of a surface or item of clothing.

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    And the worst part? At the end of the week, there’s no paycheck to look forward to.

    That’s what inspired Amber Aubrey, a mom of two, to start charging her husband for the unpaid labor she performs around the house. She documented her decision in a hotly debated TikTok video that has since racked up over 4.2 million views.

    "Ultimately, it does kind of make me the breadwinner in my household," Aubrey said in the video.

    Why this stay-at-home mom wants a paycheck

    The work stay-at-home parents do has real value — and researchers have actually put a price tag on it.

    Beike Biotechnology found that stay-at-home parents of two children do about 200 combined hours of unpaid labor each month. The estimated cost? Between $4,000 and $5,200.

    For Aubrey, charging her spouse for her stay-at-home duties boils down to feeling like she deserves financial recognition for the work she contributes. That’s why she bills her husband $2,700 a week for the work she does.

    "If he wants to save money, he can help me do any of these tasks," she said.

    Here’s a breakdown of Aubrey’s workload and the amount she charges:

    • $20 per load of dishes (two to three times daily, five days a week)
    • $140 for weekly laundry
    • $120 for weekly bathroom cleaning
    • $100 per floor cleaning (two to three times daily, five days a week)
    • $800 weekly homeschool instruction for two kids
    • $150 for weekly pickups and drop-offs
    • $75 per weekly grocery run
    • $50 for five weekly lunches and dinners
    • $200 for weekly breastfeeding
    • $50 weekly for sweeping

    Many TikTok viewers were quick to applaud Aubrey for her bold stance.

    "Know your worth, then add tax," wrote user K Briggs.

    "I 100% support this," added another user named Niklovin. User Sharna Louise chimed in: "This is the best video I’ve seen on the internet; ever!"

    Aubrey’s video even resonated with some male viewers. A TikTok user named gesseppiimuhseppe said, "Listen, as a guy, I’m here for this. I think most [of] these men need to be aware [of] how much their wives do."

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    How couples can address “invisible labor”

    Invisible labor is something stay-at-home parents take on regularly — and issues can arise when that work goes unacknowledged.

    It’s not just the physical tasks that matter. There’s also the mental load — the planning, scheduling and decision-making that comes with managing a household and raising children.

    Of course, not every household follows the traditional gender roles. But data from the University of Wisconsin-Madison finds that women still spend twice as many hours doing physical housework as their male partners.

    Weight of the world

    It doesn’t stop there. Allison Daminger, an assistant professor of sociology, found in her research that in 80% of opposite-sex couples, women shoulder most of the cognitive labor — things like managing family calendars, planning meals and checking on homework.

    According to Bloomberg, economists at the Levy Economics Institute examined data in 2021 and found that for every $100 households spend on commodities, there’s about $65 worth of unpaid work involved — often done by the stay-at-home parent.

    That same data set found that nearly 80% of all unpaid household work is done by women, with a total estimated value of $3.6 trillion annually.

    That’s why couples need to have open discussions about how to financially support and recognize the stay-at-home role. That doesn’t have to mean every household needs to itemize tasks like Aubrey does.

    But working partners should start by acknowledging the value their stay-at-home counterparts bring to the table. There are practical ways to make things more equitable.

    For example, the working partner could contribute part to a spousal IRA to help the non-working partner save for retirement.

    They should also consider the opportunity cost of a partner stepping away from their career. Resume gaps can add challenges when trying to re-enter the workforce and often lead to lower pay.

    For couples with one stay-at-home parent, open communication is key — and so is gratitude. Even if a weekly paycheck isn’t in the cards, a regular and sincere thank you can really go a long way.

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  • ‘Chaotic and confusing’: How the latest ‘emergency message’ from Social Security will impact beneficiaries who were overpaid — plus what you can do to protect yourself from future shocks

    ‘Chaotic and confusing’: How the latest ‘emergency message’ from Social Security will impact beneficiaries who were overpaid — plus what you can do to protect yourself from future shocks

    Think Social Security is a sure thing? Between 2015 and 2022, the government mistakenly shelled out nearly $72 billion, and now it wants that money back, even if the error wasn’t your fault.

    To that end, the Social Security Administration (SSA) is going after overpayments more aggressively. In March, it announced plans to withhold 100% of benefits, if needed, to recoup overpaid funds. Previously, that withholding rate had been capped at 10%.

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    The SSA later issued an emergency message in late April to give interim guidance on the new rule. In that message, it said the withholding rate should be limited to 50%.

    The higher rate applies to old age, survivors and disability insurance benefits. For Supplemental Security Income overpayments, the withholding rate remains 10%. Still, this change could throw many Social Security recipients for a major loop.

    How the new rules hurt the most vulnerable

    The SSA won’t withhold benefits without warning. In its emergency message, it explained that recipients are sent a notice requesting repayment of the overpaid benefits. That notice also explains the right to appeal.

    Beneficiaries have 90 days to request a lower withholding rate or ask the agency to reconsider. After that window closes, the SSA can withhold 50% of benefits until the overpayment is recovered. These notices began going out on April 25.

    Kate Lang, director of federal income security at the advocacy group Justice in Aging, welcomed the shift from 100% withholding, but said she was disappointed the agency didn’t revert to 10%. Lang called the agency’s conduct “chaotic and confusing.”

    “It creates more work for SSA — more people calling with questions, more errors being made that need to be corrected, more confusion and uncertainty about what is going on,” Lang said.

    According to KFF Health News, the SSA has been actively trying to claw back overpayments from disability benefit recipients for years.

    In fiscal year 2022 alone, the SSA recovered $4.7 billion in overpayments. It’s estimated that many of those affected were people on disability benefits who couldn’t afford to pay.

    KFF Health News and Cox Media Group reported on individuals harmed by the SSA’s aggressive tactics. One 64-year-old Florida resident was forced to live in a tent after his Social Security benefits were garnished and he could no longer afford rent.

    “Social Security overpayments are wreaking havoc in people’s lives,” Jen Burdick, an attorney with Community Legal Services of Philadelphia, told KFF Health News. "They are asking the poorest among us to account for every dollar they get.”

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    The impact of withheld Social Security checks

    In April, the average monthly benefit was about $2,000 for a retired worker and $1,582 for a disabled worker.

    Many people who receive Social Security rely on those benefits for nearly all their income. Among recipients age 65 and older, 12% of men and 15% of women get 90% or more of their income from Social Security, according to the SSA.

    When those benefits are suddenly reduced due to overpayment recovery, it can lead to extreme financial hardship.

    Some may have to rely on credit cards to cover essentials. But with interest rates still elevated, that could lead to a vicious cycle of debt. Even when rates aren’t high, relying on credit is risky.

    For others, a loss of even part of their Social Security check could mean missing rent and facing eviction. Homeowners could risk foreclosure. And some might not be able to afford basics like utilities, food or medication.

    How to avoid future financial shocks

    Having your Social Security benefits reduced because of an overpayment on the program’s part can be a devastating financial blow. Even if you haven’t received an overpayment notice yet, that doesn’t mean one isn’t coming.

    Right now, the SSA is limiting its withholding rate to 50%, but that could change. If you depend heavily on Social Security, it’s wise to take steps to protect yourself.

    One option is to try building an emergency fund. That’s not easy if you’re already retired, but if you’re physically able, consider a part-time job to boost your income.

    According to Pew Research, 19% of Americans ages 65 and over are working. If a set schedule doesn’t appeal to you, the gig economy may offer more flexible options. You can also look for ways to cut back on spending and save more. If you already live on a tight budget, this won’t be easy, but temporary sacrifices — like moving in with a grown child to avoid rent — could help.

    It’s also important to maintain good records of everything Social Security pays you. Keep all SSA documents in a safe place, and consider scanning them for digital backups.

    If you get an overpayment notice you believe is incorrect, don’t hesitate to appeal it. The SSA could have made a mistake.

    Before you panic, try calling the agency to speak with someone, or make an appointment at your local office to sort things out in person.

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    This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

  • I just inherited $10,000 — but all I’m hearing these days is the US is headed for a recession. Should I use the cash to pay off my $9,000 credit card debt or keep it for my emergency fund?

    I just inherited $10,000 — but all I’m hearing these days is the US is headed for a recession. Should I use the cash to pay off my $9,000 credit card debt or keep it for my emergency fund?

    If you’re worried about a near-term recession, you’re certainly not alone. According to an April survey conducted by business outlet Chief Executive, American CEOs revealed their take on the current economy, and it found that 62% now anticipate a slowdown or recession in the next six months — up from 48% in March.

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    If you’re worried about a recession and recently came into, say, a $10,000 inheritance, you may be wondering whether you should use that money to pay off a $9,000 credit card balance or put the money into an emergency fund.

    The truth is that paying off debt and boosting savings are both smart moves at a time like this. Let’s dig into the pros and cons of paying off debt versus increasing savings so you can decide what to do.

    Paying off debt

    The longer you carry debt, the more it can cost you. So, if you use your $10,000 inheritance to pay off your credit card balance, you’ll potentially save yourself a boatload of money on credit card interest.

    Plus, if a recession hits, it could result in more widespread layoffs. And if you end up losing your job, not having credit card minimums to meet could make that situation a lot less stressful.

    On the other hand, if you use your $10,000 inheritance to pay off $9,000 in credit card debt, you’ll only be leaving yourself with $1,000 for savings purposes.

    The fact that you owe $9,000 on credit cards means you may not have much in the way of savings to begin with. But a mere $1,000 cushion isn’t likely to get you very far if you lose your job and are unemployed for months. So, while paying off your credit cards solves one problem, it could open the door to another.

    Keeping the cash as an emergency fund

    A $10,000 emergency fund could be extremely handy if you were to lose your job in a recession.

    Generally speaking, it’s a good idea to have at least a three-month emergency fund to get through a layoff without having to resort to more debt. If you keep that $10,000 in your savings account, it could spare you from having to add to your credit card balances and rack up even more interest charges.

    Also, it happens to be that savings accounts are paying generously right now because interest rates are up.

    If your $9,000 credit card balance happens to be on a 0% interest credit card with a good number of months until that 0% rate goes away, you could keep the money in savings for a bit, earn some interest, and see how economic events shake out.

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    Of course, the downside of this approach is that if you’re not looking at a 0% APR on your credit card debt, keeping the money in savings could mean racking up extra interest needlessly.

    If your credit APR is 24% — which is roughly the average APR on new credit accounts these days — and it takes you three years to pay off your balance, it could cost you around $3,700 in interest alone.

    Plus, the reality is that even if a recession hits, you’re not guaranteed to lose your job, so you may not need the extra emergency savings immediately. On the other hand, you know for a fact that your credit card balance is there, and that the longer it takes you to repay it, the more money you stand to lose to interest.

    Taking a balanced approach

    A $10,000 windfall gives you a lot of leeway to better your financial situation ahead of a recession. One thing you could do is split that money between your credit card debt and your emergency savings.

    The upside of this approach is that you get more protection in case your job disappears, but you also whittle down your credit card balance to a point where your minimum payments should shrink and your interest charges should be reduced.

    The downside, though, is that you may feel like you haven’t fully tackled the goal of paying down your debt completely or building your emergency fund completely.

    Putting $5,000 toward your debt still leaves you with a $4,000 balance, which is not a small sum. And while $5,000 is a nice emergency fund, it’s probably not enough to float you for three months either.

    Then again, 40% of Americans can’t cover a $1,000 emergency expense from savings, according to U.S. News & World Report. With $5,000 in savings, you’re in a much better place than people in that boat, even if you don’t have a “complete” emergency fund.

    Ultimately, all of the choices above are financially responsible ones. You’ll need to think about how vulnerable your job and industry might be to layoffs in the event of a recession. You’ll also need to consider what your credit card debt is costing you before you can make a choice that’s right for you.

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