Author: Monique Danao

Allie, a Salt Lake City resident, faced a dilemma many car buyers can relate to: should she pull the trigger on purchasing a vehicle earlier than planned to avoid potential price hikes due to tariffs?

Originally, Allie and her husband had planned to buy a car in the spring of 2026. However, with concerns about tariffs driving up the cost of new vehicles, she began reconsidering that timeline.

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They were planning on spending around $35,000 on a used car, but were also considering buying a new one if they could find the right deal.

“We are wondering if we should move that purchase up and buy now because car prices might decrease because of the tariff.” Allie explained to The Ramsey Show co-hosts Jade Warshaw and Ken Coleman

Allie said with the media reporting that tariffs will potentially drive up the cost of vehicles, she wanted to know if buying now would be wiser than possibly paying more later.

The experts weigh in — patience over panic

The show’s financial experts quickly offered guidance.

Coleman’s first advice was clear: don’t act out of fear.

“We have no idea what the tariff situation is going to be,” he said.

“And by the way, it’s already too late. If you’re going to get a car, the costs will be affected by tariffs … we just don’t know what that’s going to look like.”

Coleman emphasized that while tariffs might impact the prices of new vehicles, they wouldn’t directly affect used car prices, which he says are more influenced by market demand.

On this point, Warshaw cautioned that while media headlines may push consumers toward fear-based decisions, it’s impossible to predict how the tariff situation will evolve.

"That media pressure is real,” Warshaw said. “ And then all the car commercials are going, ‘We are gonna stand by our payment. We’re not raising our payment.’ Everybody’s talking about it.”

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

Buy now or stick to the plan?

Allie and her husband also had to consider where they would borrow money for the car purchase. They had $30,000 in a high-yield savings account that was earmarked for future vacations and sinking funds, but the couple was considering repurposing those funds for the car purchase.

However, the experts suggested that Allie wait for her husband’s stock options to vest next spring as initially planned.

The co-hosts were adamant about not letting fear dictate a large purchase like a car. They encouraged Allie to stick with her plan and advised her to buy the car when it made more financial sense.

“You don’t do this out of fear. You do it out of ‘Are we ready to buy the car today?’” Warshaw said. “If you think, ‘Hey, we don’t need it yet,’ then don’t do it.”

“Let these stocks vest regardless of what you do,” she added.

Both co-hosts noted that by waiting, Allie could have an opportunity to find a great deal.

“A year from now, when they want to buy. There’s gonna be some people who overextended themselves,” Coleman said,

“ I can promise you a year from now, there’s gonna be some people driving around with a car payment of $700 or more. We know this from the data. And they gotta unload it.”

Warshaw and Coleman emphasized the importance of patience and careful planning, advising Allie to avoid making a fear-driven purchase. Instead, it’s best to align her decision with her long-term financial goals.

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

As home prices soar and dreams of ownership slip away for many Americans, one couple decided to stop chasing the market and a new life from the ground up.

In spring 2024, Sophie Hilaire Goldie, 37, and her husband Rocky Goldie, 50, purchased a 37.5-acre fixer-upper homestead in rural Kentucky for $390,000 and began transforming it into their forever home.

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They are now dedicating their energy, time, and skills to remodeling the property into a self-sustaining lifestyle. Their plans include raising chickens, starting a dairy goat farm and launching a new skincare business.

“We are not moving,” Sophie said. “It’s weird even to think that’s an option because it’s not how we think. I have no interest in leaving — ever.”

From match to mortgage

Sophie, an Army veteran, and Rocky, a former Marine, met on Match.com. They quickly bonded over their shared love of the outdoors and their desire to embrace life.

When they started dating, Sophie transformed a friend’s Home Depot shed into a tiny home after spending two years living in a Sprinter van. Their second date was spent working together to build the shed.

“It was important for me while we were dating to see if we could work together on projects,” Sophie told CNBC.

After she returned from a trip through Southeast Asia, Rocky suggested they find a place of their own. They turned to Zillow and searched for rural properties with at least 10 acres and a sense of history.

A local photographer introduced them to a real estate agent, who showed them the abandoned property. It included two log cabins from the 1840s, a 2,200-square-foot home with four bedrooms and one bathroom, a 200-square-foot separate cabin and two barns — all on 37.5 acres.

The couple secured a 30-year mortgage with minimum monthly payments of $1,790, but they plan to pay off their home within five years. Sophie recently launched her own skincare company, Seoul + Soil, inspired by their natural lifestyle on the homestead. The business is part of a larger goal to become 85% to 90% self-sufficient.

“I think it’s the most excited I’ve ever been about anything,” Sophie said. “There’s nothing more entrepreneurial than just making up your life.”

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Why homesteading may be a smart financial strategy

For the Goldies, homesteading is more than a lifestyle — it’s a financial strategy grounded in long-term resilience and freedom.

According to a 2022 survey by Homesteaders of America, nearly 40% of respondents said they had adopted homesteading within the past three years. Here’s how the Goldies are making it work:

• Reduced Housing Costs: It’s rare to find a 37.5-acre property with existing infrastructure for less than $400,000. By purchasing this land, the couple is eliminating decades of future housing expenses and aiming to be mortgage-free within five years.
• Income Diversification: Sophie’s skincare company is one source of income. Additional revenue may come from selling farm produce, hosting workshops or providing agritourism experiences such as farm stays.
• Asset Appreciation: Historic properties on large rural land are increasingly seen as wise investments. Renovations and the addition of sustainable infrastructure can significantly increase long-term value.
• Financial Resilience: A self-sufficient lifestyle that includes livestock, gardens and renewable energy systems can provide protection against inflation, food shortages and job loss.

For the Goldies, this bold experiment in modern homesteading is driven by passion and purpose.

“We only have a few more decades left, but we want to do 200 years’ worth of stuff,” Sophie says. “Everything we did brought us to where we are now, but it would be nice to be 20 and starting this.”

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Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

The streets of Oak Park, Illinois, erupted in chaos when $300,000 in cash spilled from a Brinks armoured truck into the street.

“People were running down the streets with money bags,” Nicole Phillips-Edwards, an Oak Park resident, told CBS News Chicago.

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Although she did not witness the unfolding event, Phillips-Edwards says police arrived at her home to provide details of the incident.

Bystanders scramble for found money

In a scene reminiscent of a Hollywood heist, Oak Park turned into a frenzied free-for-all when the back door of a Brinks armoured truck suddenly swung open and three bags of cash, worth $300,000, tumbled out.

The Brinks driver reported to police that a swarm of people — estimated between 50 and 100 — rushed to collect the loose bills scattered across the street. Bystanders stuffed their pockets with cash and fled the scene.

With the police involved in the investigation, authorities are scrambling to track down those who took part in this unusual incident. If caught, individuals involved may experience serious legal consequences.

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The legal line between found and stolen

According to Illinois law, the rules regarding found property are clear: If a person comes across lost items, including money, they are legally obligated to return them to the rightful owner — in this case, Brinks — without expecting any form of compensation.

Former FBI agent Mike Driscoll shared insights on the challenges of apprehending suspects in this scenario.

“In an instance like this where you’re talking about loose cash, that’s very, very difficult,” he told CBS News.

“Law enforcement will have to rely on old-fashioned investigative techniques.”

Investigators will likely comb through surveillance footage and interview witnesses to identify potential offenders.

Anyone who keeps lost money can face severe penalties. If someone commits property theft of between $500 and $10,000, they may be charged with a Class 3 felony. Individuals caught may face a prison sentence of 2 to 5 years, alongside fines reaching up to $25,000.

Depending on the amount, passersby who believe they found an extraordinary stroke of luck may instead face court appearances and lasting criminal records.

Returning found money

As the investigation continues, the incident serves as a cautionary tale: When you come across lost cash, report it immediately to local authorities.

If you find cash or property valued at $100 or more in Illinois, you must file an affidavit within five days.

This document should detail what you found, where and when you discovered it, and affirm that you have no knowledge of the rightful owner — and have not kept any portion of the money or property.

In the meantime, Village of Oak Park spokesperson Dan Yopchick told USA Today that the Oak Park Police Department is continuing to investigate the incident. Any witness who can share valuable information can contact the department by calling 708-464-1636 or visiting www.oak-park.us/crimetip.

As the dust settles on this freak event, those who seized the moment may find that the real cost of their actions is only beginning to emerge.

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

Medical emergencies can derail even the most carefully planned budgets. That’s exactly what happened to Alex, 34, who lost his job last month and was soon blindsided by an unexpected $8,500 medical bill. The debt has already been sent to collections, and his credit score has taken a hit.

Unfortunately, Alex is far from alone. According to the Peterson-KFF Health System Tracker, about 14 million Americans owe more than $1,000 in health-care debt, and 3 million people owe more than $10,000.

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While recent reforms offer some protections, medical debt remains one of the leading causes of financial hardship in the United States.

Know your rights: The No Surprises Act

If you’ve been hit with a surprise bill, it’s worth checking whether it violates the No Surprises Act, which took effect January 1, 2022.

This federal law protects patients from unexpected charges that result from receiving out-of-network care at in-network facilities.

For example, if you were unknowingly treated by an out-of-network doctor in an in-network hospital, the No Surprises Act prevents you from being billed beyond your deductible, coinsurance or copayments.

You also have the right to receive a “good faith estimate” for non-emergency care if you’re uninsured or self-paying. This estimate should outline the expected charges before treatment. If the final bill exceeds the estimate by more than $400, you can dispute the charges through a formal patient-provider resolution process.

How medical debt impacts your credit

The good news is that recent changes to credit reporting have softened the blow of medical debt. The three major credit bureaus — Experian, Equifax and TransUnion — no longer report unpaid medical collections under $500. Paid medical collection debt is also no longer included on credit reports.

That said, larger unpaid debts — like Alex’s $8,500 bill — can still appear and remain on your credit report for up to seven years, hurting your score and future borrowing ability.

However, you typically have a 365-day grace period after the bill is sent to collections before it appears on your credit report. This gives you time to fix billing errors, work out a payment plan or negotiate a reduced amount.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

What to do if you can’t afford to pay

If you’re facing a large medical bill with no way to pay it off, consider these steps:

• Check for errors: Medical bills are often inaccurate. Request an itemized invoice and verify each charge with your insurer.
• Negotiate: Many providers will accept less than the full amount if you can pay a portion upfront. Ask if they offer discounts if you pay a certain amount in full.
• Set up a payment plan: Hospitals and clinics may allow monthly payments. However, take note of the interest or fees charged by the provider.
• Apply for financial assistance: Nonprofit hospitals offer charity care. You may also qualify for Medicaid, local government aid or help from religious or nonprofit groups.
• Hire a medical billing advocate: These professionals can dispute errors and negotiate on your behalf. They typically charge a fee or a percentage of what they save you.
• Avoid high-interest debt: Using credit cards or personal loans should be a last resort. If you must, look for a 0% APR offer and pay it off before interest kicks in.

Rebuilding your credit

If your score has already taken a hit, it’s not the end of the road. Focus on paying your other debts on time, keeping credit card balances low and checking your credit reports for mistakes. Once your medical collection is paid, it will be removed from your report.

Medical debt can feel overwhelming, but it doesn’t have to define your financial future. By knowing your rights and acting quickly, you can take back control and protect your credit moving forward.

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Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

A Rosemead, California, woman says she’s had strangers arrive at her front door after a scammer falsely listed her home as a short-term rental online.

“We found out our house was listed on Booking.com,” Alexis Cavish told KTLA 5 News in a story published May 16. “We are not renting out our house.”

Cavish says she doesn’t even have an account with the website. The address on the listing was hers, however, it included photos of another property, and was priced at nearly $400 per night. She’s had to turn away visitors looking to check in with booking confirmation emails in hand.

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“Luckily, so far, the people have been really nice,” Cavish said. “But they’re strangers coming to the house where I have kids.”

She criticized Booking.com for publishing listings without any verification.

“I’m frustrated because the company is not doing its due diligence,” she said. “Why doesn’t the owner have to prove some ownership before charging people money to stay?”

A growing trend in online rental scams

According to KTLA 5 News consumer reporter David Lazarus, this type of fraud is becoming more frequent.

“It’s a common enough scam that there’s a name for it — short-term rental scams — and it’s most common on Airbnb and Booking.com,” Lazarus said in the report.

These scams can involve criminals creating fake listings using either stolen or generic photos and attaching them to real addresses. Some booking platforms rely on automated systems, which can allow fraudulent listings to go live without being flagged or verified.

The rise of digital platforms and third-party payment apps has made it easier for scammers to exploit homeowners and renters. In cases like Cavish’s, the fraud is a financial and safety concern.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

How to protect yourself

Lazarus warned travelers to proceed cautiously when booking short-term stays online.

“In terms of any payment, communication, don’t leave the platform,” Lazarus said. “So, if the listing says they want you to pay with Zelle or Venmo or some other digital payment plan, and especially if they ask for crypto, walk away.”

Another simple precaution is to cross-reference the property’s address with Google Maps. If there are exterior photos of the building in the listing and they look different, that’s a major red flag.

One more tip is to verify hosts and read reviews carefully. When a listing lacks reviews or seems too good to be true, it just might be.

For homeowners, checking periodically to ensure their property isn’t being misused online and setting up Google alerts for their home’s address may help catch scams early.

Meanwhile, if you find a suspicious listing, consider reporting it to the platform. Some platforms have dedicated channels for reporting fraud, and flagging a suspicious listing can prevent others from falling victim.

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Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

Christy spent the last 14 years as a stay-at-home mom in Sioux Falls, South Dakota, raising six children, ages four to 18.

Her husband of nearly 20 years recently dropped a bombshell that he plans to file for a divorce this summer, and she’s worried she’s unprepared for the financial fallout.

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“I’ve had a little bit of part-time income, which works with our kids’ schedules, but essentially everything’s valued under him so to speak,” she told personal finance expert Dave Ramsey when she called into his show recently and explained her situation.

“Holy moly,” responded Ramsey.

Hidden debts and a looming legal battle

The couple once tackled debt together — in 2010 they paid off every loan.

However, in 2020, when the couple refinanced their house, Christy’s husband confessed that he had been using credit cards and was carrying debt. They rolled those balances into their mortgage, and he promised he would get rid of the credit cards.

Earlier this year, she discovered he had driven up nearly $60,000 in credit card debt. Again, they tapped home equity, taking a second mortgage to cover sky-high interest charges.

“Things went downhill really quickly after that,” she said. “I’m a preschool teacher to try to make money because I can have my son with me … I just found out that he hasn’t been paying my life insurance.”

She said her husband, who earns about $117,000 a year, is still living in the family home but avoids her and doesn’t communicate with her about the kids. He remains under their roof even as he pulls back from every other obligation.

Ramsey’s response was blunt but reassuring: the law would make sure her family is secure.

“ Your legal rights in most states with six children and a 20-year marriage are, he’s not gonna have much of that one $117,000 left by the time he finishes with alimony and child support. It is almost all gonna go to you and the kids,” he said. “So you’re not going to have to take care of the kids and feed them and pay the house payment on a part-time daycare salary.”

He urged Christy to meet with an attorney — and to insist her husband move out immediately. She said she has scheduled that meeting to clarify her legal rights under South Dakota law.

“You need to start taking a position of strength on this,” said Ramsey.

As for her husband’s credit card debt, the good news is most states, including South Dakota, follow common-law property rules. According to Experian, this means courts in these states usually hold the spouse who incurred the debts solely responsible for repayment. You usually would only be responsible for credit card debt solely in your name, joint credit card debt in both your name and your spouse’s or credit card debt from an account that you cosigned for your spouse, even if not owned jointly.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Preparing financially for a divorce

Even stay-at-home parents can shore up their finances at the first hint of divorce. Here are some ways to prepare yourself for this shift:

• Document every dollar: Gather tax returns, bank statements, investment account statements, pay stubs, mortgage statements, insurance policies, credit card bills and all other financial documents. Keep copies in a secure physical or cloud-based location to build a clear record of income, assets and liabilities.

• Separate your accounts: Open a personal checking and savings account, plus at least one low-limit credit card in your name. Even small balances build a credit history, which may be critical if you need to rent or buy independently.

• Build a budget: Use a zero-based budgeting tool to track all expenses and identify where to stretch every dollar. Factor in immediate needs (housing, utilities, groceries) and plan for one-income realities.

• Establish an income plan: Leverage skills you can monetize quickly: childcare, tutoring, virtual assistance, freelance writing or bookkeeping. For example, Christy found work as a preschool teacher, which allows her to bring her four-year-old to class.

• Secure new insurance: Shop for individual insurance policies to protect your children and yourself. Obtain quotes now and compare costs before coverage gaps occur.

• Build an emergency fund: Even $500 set aside can cushion against immediate crises — car repairs, medical bills or gaps between paychecks.

• Seek professional guidance: A family-law attorney will explain alimony and child-support rules in your state. A financial planner or credit counsellor can help you manage debts and rebuild your credit.

Christy’s road ahead will not be easy, but a proactive approach can transform chaos into control. By documenting finances, securing her accounts and crafting a realistic budget with a path to income, she can navigate from uncertainty to stability — and ensure her six children come through this transition with their needs met.

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Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

Mike Abatecola, an exotic car owner, recently bought a Lamborghini from Vladimir “Val” Ranguelov, Dealer Principal of Bul Automotive in Albany, New York.

A short while after, Abatecola says, Ranguelov persuaded him to sell the car back to him for an upgrade — so he did. But the dealership failed to pay off the remaining loan balance.

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By the time Abatecola realized what had happened, Ranguelov had already taken the car, leaving him $200,000 in debt.

Thanks to the FBI, Abatecola was reunited with his luxury vehicle in June.

But he’s still in shock.

“I’m still numb,” he told WNYT NewsChannel 13. “I don’t make that kind of money to be robbed.”

From dream car to financial nightmare

After Abatecola approached the FBI and shared his story online, more than a dozen other buyers responded with similar complaints. Ranguelov had two dealerships, Bul Automotive in New York and Karma Automotive in Jacksonville, Florida, which abruptly ceased operations in June.

After the FBI got involved, Abatecola’s Lamborghini was recovered. However, the tangled web of unpaid loans and potential second-buyer claims remains under investigation. Affected customers are now exploring a class-action lawsuit.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

How many auto thefts occur in the U.S.?

Abatecola’s ordeal comes amid a nationwide slowdown in vehicle theft and related fraud. The National Insurance Crime Bureau (NICB) found U.S. auto thefts totalled 850,708 in 2024 — down 17% from 2023.

The District of Columbia led with the highest rate of 842.40 reported thefts per 100,000 residents, followed by California, with 463.21 thefts per 100,000 residents.

Though theft rates have decreased recently, auto criminals have grown more sophisticated in recent years. From title washing, which involves wiping anything perceived as negative — like salvage status or flood damage — from a used vehicle’s record to VIN cloning, which masks stolen or damaged vehicles with legitimate identification numbers, it’s difficult to know what you’re really buying.

“Criminals are employing increasingly sophisticated methods to steal vehicles, including advanced technology to bypass security systems,” warned NICB CEO David J. Glawe in a 2023 report. “From keyless entry hacks to relay attacks on key fobs, perpetrators exploit vulnerabilities in modern vehicle security measures with alarming success rates.”

How to avoid an auto scam

To protect yourself from fraudulent schemes, prospective buyers and sellers should follow these essential precautions:

• Obtain lender payoff statements: Before handing over your vehicle, try to secure a bank-issued document confirming that any previous loans are fully satisfied.

• Ensure an immediate title transfer: Make sure the seller initiates a legal title transfer in your name at closing; unexplained delays are a major red flag.

• Run a comprehensive history check: A good tip is to use the National Motor Vehicle Title Information System before buying a vehicle you’re interested in.

• Scrutinize online offers: Be wary of below-market prices, vague listings or sellers who resist in-person inspections.

Abatecola’s saga underscores the fact that anyone can fall victim to an auto scam — despite the decline in reported thefts. How you buy a vehicle — and who you buy it from — deserves just as much thought as how you protect and insure your vehicle after you buy it.

By demanding complete documentation and staying vigilant against fraudulent deals, car buyers can keep their dream machines — and their savings — out of the hands of fraudsters.

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