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Author: Victoria Vesovski

  • ‘Something didn’t seem right to me’: Job scams are surging as federal layoffs rise — here’s how to avoid getting duped when you’re desperate for work

    ‘Something didn’t seem right to me’: Job scams are surging as federal layoffs rise — here’s how to avoid getting duped when you’re desperate for work

    Employment scams are nothing new — but they’re becoming more common, especially in the wake of mass layoffs from the Department of Government Efficiency.

    With thousands of federal workers suddenly out of a job, scammers are seizing the opportunity. They often create fake job listings by mimicking legitimate employer websites, hoping to trick desperate job seekers into handing over sensitive personal and financial information.

    According to the Federal Trade Commission, job and fake employment agency scams have nearly tripled since 2020. Americans lost $501 million to these schemes in 2024 — up from $90 million four years ago. The FBI’s Internet Crime Complaint Center reports that victims of job scams lose nearly $3,000 on average.

    If you’re currently job hunting, there are a few red flags worth knowing about — and avoiding them could save you serious money and a major headache.

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    Keeping a look out

    Job hunting has never been easy — between constantly updating your resume and rewriting cover letters, the process can already feel like a full-time job. But now, employment scams are adding another stressful layer to the search.

    Even if you’re not actively hunting for a new job, sometimes a too-good-to-be-true offer lands right in your inbox. On the Job Scam Report podcast, Ashley Price-Horton, founder of CyberCareer Advancement, explained just how easy it is for scammers to zero in on vulnerable targets.

    “It’s really easy to identify who was a federal employee who got laid off because they’ll usually put their end date and it’s very easy to target them for scams,” she said.

    That’s exactly what happened to a Washington state woman, whose identity was kept anonymous by The Washington Post. While browsing LinkedIn, she was approached by someone claiming to be “Edward Mueller” from a nonprofit offering her a remote transcriptionist job.

    “Your skills and experience align perfectly with the requirements of this role,” the email read. It even included the promise of a $250 training bonus.

    But the woman was quick to feel suspicious when — before she could start — she’d need to purchase expensive equipment and provide her banking information for payroll.

    “Something didn’t seem right to me with the correspondence and hiring process,” she told The Washington Post.

    The offer seemed rushed. She couldn’t find Mueller’s profile online. That was the red flag.

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    Spot the scam

    Scammers have gotten alarmingly good at making fake job offers look legit — but there are still ways to outsmart them before you accidentally hand over your personal details.

    Start by verifying the job listing. Search for the company on your own and contact them directly using information from their official website — not the phone number or email the supposed recruiter sends you. If something feels off, it probably is.

    Another golden rule is you should never have to pay to get a job. If you’re asked to buy equipment or deposit a check upfront, that’s a major red flag. A common scam involves sending you a check for more than the equipment costs, then asking you to return the difference — either via gift card or bank transfer. The check might clear at first, but once it bounces, you’re on the hook for the full amount.

    The FBI’s Internet Crime Complaint Center told The Washington Post that legitimate employers only ask for payroll information after you’re officially hired — never during the initial hiring process. If someone’s pushing for it early, it’s time to walk away.

    What to read next

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

  • Raising Cane’s CEO Todd Graves turned a rejected chicken finger idea into a billion-dollar empire. Here’s the 1 key value he harnessed for success and how you can ‘live it every day’ too

    Raising Cane’s CEO Todd Graves turned a rejected chicken finger idea into a billion-dollar empire. Here’s the 1 key value he harnessed for success and how you can ‘live it every day’ too

    Sometimes, making billions is just a matter of doing one thing — and doing it really well. That’s the playbook Todd Graves, founder and CEO of Raising Cane’s, has followed. With a menu that barely breaks five items — chicken fingers, fries, coleslaw, Texas toast and a cult-favorite sauce — the chain still managed to pull in $5.1 billion in revenue in 2024, according to financial records reported by Forbes.

    With 900 locations across 42 states, Cane’s has become more than a fast food joint — it’s a brand movement. Graves credits the company’s success to a focused menu, a loyal fanbase and a marketing strategy that leans hard on celebrity shoutouts and viral social media moments.

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    His business savviness even landed him in the Shark Tank — literally. Graves guest-starred on two episodes last fall.

    “I’m a social media machine,” he said during a pitch. “I’ve got a whole team behind me that helps me with these things and I live it every day. I’ll get your product out there and I’ll help you expand it for low acquisition costs.”

    Here’s how Graves made one key value — simplicity — scalable, and what you can learn from the sauce-fueled success of Raising Cane’s.

    Invest in yourself

    Before Raising Cane’s became a billion-dollar brand, Graves was just another scrappy dreamer with a chicken-finger vision and no one willing to fund it. Banks said no. Investors passed. A college professor gave his business plan the lowest grade in class. But Graves didn’t let a few Fs and financial gatekeepers deep-fry his dream.

    To fund his vision, he rolled up his sleeves and got to work. He worked as a boilermaker in a Los Angeles oil refinery and spent 20-hour days fishing sockeye salmon in Alaska, socking away every paycheck. It wasn’t glamorous, but it was enough. He scraped together savings and secured a Small Business Administration (SBA) loan to open the first Raising Cane’s near Louisiana State University in 1996.

    Graves’ path proves that discipline and determination can do what investors won’t — turn a back-of-the-napkin idea into a billion-dollar brand. Nearly 70% of small business owners rely on personal savings to get started, according to the U.S. Chamber of Commerce. It’s not always glamorous but building a financial cushion can be the first step to building something much bigger.

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    The recipe for success lies in simplicity

    Graves didn’t reinvent the drive-thru — he just made chicken fingers. That no-frills approach turned Raising Cane’s into one of the most profitable fast-food chains in the country.

    According to the 2024 QSR 50 report, the company brought in an average unit volume of $5.69 million per location by August — which Forbes says was more than double competitors like Zaxby’s and Bojangles. By the end of 2024, that number jumped to $6.6 million, with EBITDA nearing $1 billion.

    For entrepreneurs and side hustlers, Graves’ strategy is a valuable reminder: you don’t need complexity to stand out — just consistency and quality. Sticking to one core offering can keep overhead low, branding strong and execution tight. Instead of trying to be everything to everyone, focus on being the best at one thing.

    Graves has turned a five-item menu into a national obsession — and he’s not done.

    “Our next aspiration is to be a top 10 restaurant brand in the U.S.,” Graves said at a conference in Cancun last year, according to Nation’s Restaurant News. “Think of the big boys — McDonald’s, Wendy’s, Starbucks, Subway — companies that have been open a lot longer than we have.”

    He also plans to reinvest $100 million into local communities and continue promoting team members from within.

    What to read next

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

  • Fraudsters are using a $20 ‘distraction’ scam to steal thousands of dollars from victims — nearly $5,000 drained from 1 LA teacher’s bank account. Here’s how the ‘huge violation’ went down

    Fraudsters are using a $20 ‘distraction’ scam to steal thousands of dollars from victims — nearly $5,000 drained from 1 LA teacher’s bank account. Here’s how the ‘huge violation’ went down

    It’s not every day a stranger insists on handing you a $20 bill you didn’t drop. But for Sarah — whose last name has been withheld, as reported by Fox LA — that’s exactly what happened on an ordinary Wednesday afternoon at a Ralphs grocery store in Van Nuys.

    "He came much closer to me and was kind of pushing the $20 into my wallet," Sarah recalled. "I said, ‘No, I don’t think I did.’"

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    At first, it could have been a strange but harmless mix-up. That is, until Sarah noticed the man was suddenly joined by a woman — both of them following her to her car, pressing the cash on her with unsettling persistence. What felt like an awkward moment quickly turned into a coordinated scam. When Sarah checked her wallet, her cash was intact, but her debit card was gone.

    Within 30 minutes, the thieves had made multiple withdrawals from Sarah and her daughter, Jennifer’s bank account from a Chase branch.

    Unfortunately, Sarah and Jennifer aren’t alone. Distraction scams have been popping up across the country. Here’s how to spot the red flags.

    Be on the lookout

    Distraction scams don’t come with flashing red lights, they come with kindness and confusion. These types of scams are built on flustering you just enough to make you vulnerable. This involves a stranger creating a diversion — like insisting you dropped a $20 bill — while an accomplice steals something like your wallet or debit card.

    According to the Federal Trade Commission, Americans lost over $12.5 billion to fraud in 2024, a 25% increase from the year before. While that includes a mix of schemes, distraction scams are rising, especially in places we least expect it like grocery store lines.

    "It’s a huge violation," Sarah said. "I feel like I’m looking over my shoulder everywhere I go. It’s just horrible."

    Jennifer, Sarah’s daughter, filed a police report and shared the story online — and the responses came flooding in. Dozens of people chimed in with eerily similar experiences, revealing just how widespread the scam really is.

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    What you can do to protect yourself

    For Jennifer, a teacher with a limited income, falling victim to a scam wasn’t just an inconvenience, it had immediate financial consequences. "My money is gone, and I had just gotten paid," she told Fox LA. As living expenses continue to rise, incidents like this can disrupt far more than a day’s routine.

    And yet, that’s why scams like these are so effective, often appearing as benign interactions. “You need to understand the hallmarks of most scams: They contact you first, dangle some sort of bait in front of you and create a sense of urgency,” Jason Zirkle, training director at the Association of Certified Fraud Examiners, told Nerd Wallet.

    Remaining aware of your surroundings is key. Trusting your instincts, keeping personal belongings securely fastened and not hesitating to report suspicious behavior — whether to a store manager or law enforcement — can serve as your first line of defense.

    And if you do find yourself in Sarah and Jennifer’s position, it’s important to take action. The first step is to contact your bank or card issuer immediately to freeze the account to prevent further transactions. Most banks offer 24/7 fraud hotlines and mobile app features to lock your card with just a tap. Next, file a fraud report with your financial institution so they can begin investigating the unauthorized charges. This also increases your chances of recovering any lost funds.

    Be sure to file a police report as well, which not only helps authorities track patterns of criminal activity but may also be required by your bank for reimbursement.

    What to read next

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

  • ‘A warning to Americans’: This Yale professor is moving to Canada over ‘political pressure’ put on US schools by Trump. But getting into Canada isn’t easy. Here’s the 1 thing Americans forget

    ‘A warning to Americans’: This Yale professor is moving to Canada over ‘political pressure’ put on US schools by Trump. But getting into Canada isn’t easy. Here’s the 1 thing Americans forget

    Jason Stanley, a Yale philosophy professor and author of How Fascism Works: The Politics of Us and Them, is leaving the United States to take up a teaching position at the University of Toronto — a decision he said is driven entirely by the political climate under the Trump administration.

    The federal government is in a funding fight with elite institutions like Yale, Harvard and Columbia as part of its so-called security reforms.

    While Stanley was critical of Yale’s handling of his academic freedom, he claims Columbia has gone a step further — capitulating to political pressure from the White House by forcing out faculty, tightening protest rules, increasing campus policing and reorganizing departments such as Middle East studies.

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    “It has nothing to do with me.” Stanley told MSNBC. “It has everything to do with my children, and my desire to send a warning to Americans.”

    Stanley may be uprooting his life with a new job waiting across the border — but for many Americans, the move is far more complicated than booking a one-way ticket.

    Moving up north

    Back in 2016, when Donald Trump was first elected, countless Americans — celebrities Amy Schumer and Snoop Dogg included — threatened to head north. But few actually did. Despite the shared border, Canadian immigration lawyer Ryan Rosenberg says the move isn’t nearly as simple as it sounds.

    “‘What do you mean I can’t move to Canada next week?’” is the reaction clients typically have about Canadian immigration requirements, he told CBC News.

    Rosenberg, managing partner at Larlee Rosenberg in Vancouver, launched a cheeky website last year called Trumpugees.ca, with the slogan: "Tired of Trump? Thinking about Canada? We can help."

    But according to him, fewer than 5% of inquiries ever turn into a formal application — mostly because one key requirement stops Americans in their tracks: without a job offer, they can’t just pack up and go.

    And now, Americans looking to flee a volatile political climate are facing another hurdle: a federal government in Ottawa that’s actively trying to curb immigration. Ottawa-based immigration lawyer Betsy Kane says that unless applicants speak French or have in-demand skills, their options are slim.

    “For somebody living in the States who wants to look at opportunities in Canada, it’s pretty difficult right now and you really need to have a job offer in a specific field," Kane told CBC News.

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    Friendly neighbors

    Even if you manage to cross the border, settling into life in Canada isn’t all smooth sailing — especially when it comes to retirement planning.

    According to a BMO survey, Canadians believe they’ll need around $1.7 million to retire comfortably. That figure is similar to American expectations — but the weaker Canadian dollar complicates things.

    With the exchange rate sitting at 1.38 CAD to 1 USD, saving and spending in Canada could shrink the value of your nest egg over time.

    And if you decide to return to the U.S. down the line, your Canadian savings might not go as far as you’d hoped. Currency fluctuations also affect day-to-day spending. From groceries to gas, price tags can feel unexpectedly steep if you’re not accounting for the exchange rate.

    Health care is another major consideration. While Canada’s universal system is often praised, newcomers don’t get access right away. Some provinces have a waiting period of up to three months before public coverage kicks in — and during that time, you’ll need private insurance. Even with coverage, services like dental, vision and prescriptions often come with extra out-of-pocket costs.

    So, while Canada may seem like a safe haven, the reality is far more complex — and costly — than many Americans expect.

    What to read next

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

  • Elon Musk, father of 14, warns America needs more babies — and that ‘civilization will disappear’ unless birth rates improve. But DOGE just cut billions for maternal healthcare. What gives?

    Elon Musk, father of 14, warns America needs more babies — and that ‘civilization will disappear’ unless birth rates improve. But DOGE just cut billions for maternal healthcare. What gives?

    It’s the last thing maternal advocates want to hear, but Senior Advisor to the President Elon Musk — the father of 14 — has repeatedly warned that declining birth rates around the world threaten civilization.

    Yet under Musk’s Department of Government Efficiency (DOGE), billions in funding for maternal health care, research and community support programs have been cut, leaving health providers scrambling and expectant mothers without critical care.

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    Sevonna Brown, a Brooklyn-based maternal health advocate and founder of Sanctuary Medicine, had to stop her work almost overnight after DOGE froze more than $2 million in federal funding tied to her initiative.

    Echoing Brown’s sentiment is Emilie Rodriguez, co-founder of The Bridge Directory. She underscored the perceived hypocrisy.

    “We can’t claim to care about birthrates while defunding the very systems that make pregnancy, birth and parenting safe,” she told Forbes.

    While critics say Musk’s policies are removing the safety net from under the very people who are growing the next generation, it can be a more costly initiative in the long run.

    Cuts without care

    On April 1, thousands of employees at the Department of Health and Human Services (HHS) were laid off as part of a policy targeting 10,000 agency-wide jobs. The cuts hit agencies like the FDA, CDC and NIH — the same institutions responsible for overseeing everything from prenatal research to postpartum support.

    One former employee told Politico she had carpooled into the office that morning, only to find herself locked out.

    “We got completely blindsided this morning,” the staffer told Politico. “People were already on the way to the office when they found out.”

    The Trump administration defended the measures, describing them as necessary steps towards streamlining an inefficient bureaucracy. Health Secretary Robert F. Kennedy Jr. emphasized that the goal is to eliminate redundant programs, which the HHS is expected to save $1.8 billion annually.

    However, the cuts are being felt nationwide, with studies on maternal health being abandoned. Columbia University’s NY-CHAMP Center of Excellence program planned to enroll 600 participants for 2025, but was only able to fund 21. That was only after they secured private funding due to government funds being frozen. It’s too soon — and the sample size is too small — to tell how much of an impact the loss of funding will have on CHAMP’s studies.

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    The billion-dollar question

    As DOGE cuts funding for maternal care, advocates argue the case for women’s health isn’t just moral — it’s economic.

    A study by Women’s Health Access Matters found that $300 million in research across three major diseases could generate $13 billion in economic returns. Experts say government-backed research often lays the foundation for private-sector breakthroughs. Right now, that foundation is cracking.

    “Women’s health research is not being invested in at the level of the private sector, " said Lindsey Miltenberger, the chief advocacy officer at the Society for Women’s Health Research. “Making sure that is prioritized in the federal government is really important for creating that foundational research that can then be picked up by the private sector and commercialized.”

    Dr. Uma Reddy, who led the now-underfunded NY-CHAMP study, said her team’s interventions likely saved the government money by helping women avoid serious and costly health crises.

    “We can address this,” Reddy told Politico. “We can improve maternal health by preventing these mental health conditions, complications … and improve families and children’s lives, and it’s cost-effective.”

    What to read next

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

  • ‘$1M? That’s it?! No, thank you’: Ramit Sethi calls out the worst financial tip he’s ever received, challenging the retirement advice most North Americans still follow

    ‘$1M? That’s it?! No, thank you’: Ramit Sethi calls out the worst financial tip he’s ever received, challenging the retirement advice most North Americans still follow

    It’s the advice you hear passed around like a family recipe: Work hard, save consistently and one day you’ll retire comfortably. But what if this so-called tried-and-true advice is far from a recipe for success and more like a blueprint for disappointment?

    Ramit Sethi, podcast host and bestselling author of I Will Teach You to be Rich and Money For Couples, didn’t hold back as he reflected on what he considers the worst financial advice he’s ever received.

    “Get a job at an industrial company and work there for 40 years so that I can retire with $1 million in the bank,” he told Money.ca. “I was like $1 million? That’s it?! No, thank you!”

    The old axiom about saving $1 million for retirement hasn’t changed much. Today, many Canadians think they’ll need $1.54 million to retire comfortably, according to a BMO study. But Sethi rejects any such advice.

    Why Sethi rejects the $1M retirement goal

    He says the issue isn’t just oversimplified math but the mindset it fosters: Grinding away for decades only to scrape by on a fixed budget in retirement.

    For one thing, he argues that by focusing solely on saving and not spending money meaningfully, people miss out on living a rich life. He thinks it’s too long to wait till retirement, especially when the average age of retirement is creeping up, standing at 65 in 2024, up from about 61 in the 1990s, according to Statistics Canada.

    When many Canadians finally do retire, their visions of their golden years — leisure, frequent travel and freedom from the constraints of a 9-to-5 — clash with financial reality. In a study conducted by Money.ca, households headed by those aged 45-54 have an average retirement account balance of $1,077,160. And while that’s close to what Canadians think they need in order to enjoy their golden years, the podcast host thinks there’s still room for growth.

    This disconnect is why Sethi encourages people to rethink their financial approach, shifting the focus from reaching milestones to developing a strategy that builds wealth over time.

    Building your retirement savings

    While a $1-million retirement goal might seem out of reach, there are steps you can take to build a stronger financial future. One approach Sethi encourages is harnessing the power of compound interest.

    “The power of compounding is something that is truly hard to understand until you see it over and over again,” Sethi explains.

    Compound interest works by allowing your money to grow not just on your initial contribution, but on the accumulated interest as well , creating a snowball effect over time. For example: A 35-year old investing $300 per month with a 6% annual return would have $301,355 by the age of 65. But if that same person started earlier, at age 25, investing the same amount every month, they’d end up with hundreds of thousands more: $597,337, nearly double.

    Even though the late investor only contributed $36,000 less in total, they lost out on the exponential growth that comes with compounding over decades.

    However, it’s not just about starting early. Maximizing contributions to tax-advantaged accounts like an RRSP, taking full advantage of employer matching programs and diversifying your investments can boost your retirement savings. Taking full advantage of employer matching programs is practically “free money” that can supercharge your savings.

    Don’t minimize the value of budgeting, which can free up more cash to invest.

    With consistent effort, thoughtful planning, and focus on long-term growth, building the retirement of your dreams is well within reach.

    Sources

    1. BMO: BMO Retirement Survey: Over Three Quarters of Canadians Worry They Will Not Have Enough Retirement Savings Amid Inflation (Feb 12, 2025)

    2. Statistics Canada: Retirement age by class of worker, annual (Jan 27, 2025)

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

  • This New Hampshire coffee shop embraces a ‘disgustingly pro-women’ stance — and business is booming. How this 1 bad review boosted the shop’s revenue and what it’s doing with the extra cash

    This New Hampshire coffee shop embraces a ‘disgustingly pro-women’ stance — and business is booming. How this 1 bad review boosted the shop’s revenue and what it’s doing with the extra cash

    There’s no shortage of coffee shops offering espresso shots and matcha lattes, but Flamingos Coffee Bar in New Hampshire has carved out a niche beyond expensive drinks.

    Known for its vibrant decor, playful branding and community-focused atmosphere, the café has built a loyal customer base at both its locations.

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    With bright flamingo wallpaper and a neon sign that reads “Zero Flocks Given,” the shop positions itself as a welcoming space for all — from remote workers to first dates.

    But one online review — describing the café as “disgustingly pro-women” — sparked an unexpected branding opportunity.

    "Place was disgustingly pro women and just walking inside I immediately felt unwelcome as a male … probably wouldn’t return," it read, according to WMUR 9 ABC News.

    Instead of allowing the comment to damage the shop’s reputation, owner MacKenzie Logan turned it into a new business idea that ultimately led to a broader customer base.

    Zero flocks

    While no business owner enjoys reading negative reviews, Logan saw an opportunity where others might have taken offense.

    "It’s actually a really great motto," she told WMUR 9 News. "It’s a great slogan."

    Rather than ignoring the comment, Logan tested the waters online, asking her community whether they’d be interested in merchandise bearing the phrase “Disgustingly Pro-Women.” The response was very positive — so much so that she moved quickly to turn the idea into a new revenue stream.

    With her garage doubling as a shipping center, orders began pouring in from across the country.

    Logan’s entrepreneurial pivot reflects a growing trend. According to a Quicken survey, 43% of Americans with side hustles report earning more and working fewer hours than they would with a single job.

    In Logan’s case, the merchandise — and the message — resonated far beyond New Hampshire.

    "I’ve had people tell me they’ve driven from New Jersey," said Colleen Jenkins, who works at Flamingos. "I had a lady from Virginia, specifically just to get our coffee, and they planned their vacation around Flamingos."

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    Larger purpose

    This isn’t just a feel-good fashion statement — it’s a movement stitched together with purpose. With 20% of all proceeds going directly to Exeter Area Womenade, a local nonprofit that provides immediate financial assistance to those who need it, these T-shirts represent more than just a trendy slogan.

    "They will help people if they need new tires or if their car is broken down and it needs a fix for them to get to work," Logan said. "You won’t find pretty much any other nonprofit in the area that can help in that way."

    In a country where women in 2024 still earn just 85 cents for every dollar a man makes — according to Pew Research Center — being a strong woman isn’t just empowering, it’s essential.

    As one customer, Zan Lewis put it, "I think being pro-women does not mean not pro-anybody else."

    As inflation and the cost of living continue to climb, the need for financial aid is real. And so is the impact.

    “Giving back has been shown to boost happiness, reduce stress, enhance self-esteem and strengthen social connections,” Megan Hays, Ph.D., a clinical psychologist at the University of Alabama at Birmingham, shared with UAB News.

    While a negative review called the coffee shop “disgustingly pro-women,” the business remains unapologetically aligned with its values — and that’s the point.

    Whether customers wear the shirt or simply support from a far while sipping on a latte, backing a company that champions equity and refuses to dilute its message isn’t just admirable — it allows for a larger cultural shift.

    What to read next

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

  • This CEO went from $300,000 in debt to a self-made millionaire. She says these 3 common money mistakes could be costing you thousands — here’s how to fix them

    Bernadette Joy, CEO of Crush Your Money Goals, went from $300,000 in debt to earning her first million in just eight years — and it all started with one simple but powerful step: taking ownership of her finances.

    But before her fortunes began to turn, Joy often felt like she was broke and that her finances were off track. As it turns out, many Americans can relate to this feeling — a recent survey from Empower found that 41% of Americans don’t consider themselves to be financially “well-off.”

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    By holding herself accountable and confronting the money mistakes that were quietly draining her wealth, Joy flipped the script on her financial future. And as a self-proclaimed “debt-free millionaire money coach,” her goal is to help others to do the same.

    Here’s what Joy recommends you can do to stop overspending on common missteps and get your finances on the right track.

    Hidden credit cards fees

    That shiny new credit card promising free flights, cash back galore and VIP lounge access might seem like a fast track to living your best life, but Joy warns her clients not to be fooled. Many of these credit cards come with hefty annual fees that can quietly chip away at your budget. On top of that, they often carry steeper penalties if you miss a payment, making them even more expensive over time.

    While the perks may sound glamorous, they can quickly lose their luster if you’re not earning enough rewards to outweigh the cost — or worse, if the card nudges you into spending more just to "get your money’s worth."

    With U.S. credit card balances reaching $1.21 trillion by the end of 2024 — according to the Federal Reserve Bank of New York — it’s clear that debt is already a major financial hurdle for millions of Americans. Add on unnecessary fees, and you could be walking further away from your financial goals.

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    Skipping retirement contributions hurts twice

    When it comes to investing, a lot of people jump straight into brokerage accounts without taking full advantage of tax-advantaged options like a 401(k), HSA or IRA.

    “Unless you have put the maximum allowed by the IRS each year in these, you likely don’t need a brokerage account at all,” Joy wrote in her CNBC article.

    While there’s nothing wrong with investing in a regular brokerage account, you’re likely paying more in taxes than you need to. That’s because contributions to a traditional 401(k) are made with pre-tax dollars — meaning the money you contribute gets deducted from your taxable income for the year.

    For example, if you earn $70,000 per year and put $10,000 into your 401(k), you’ll only pay income tax on $60,000. That’s an instant tax break that could give you more money to save for your nest egg. On the flip side, investments in a brokerage account are made with after-tax dollars, and any gains could be taxed as well.

    Investment fees that eat at your wealth

    Even if you’re diligently contributing to your 401(k) or investing in mutual funds, hidden fees could be quietly draining your returns. One of the biggest culprits is the expense ratio, a fee charged annually to cover operating costs like management and administrative services.

    “While paying an extra 1% in fees might not sound like a big deal, over 30 years, it could mean losing out on six figures in potential growth,” Joy mentions in her CNBC article..

    Instead, Joy recommends opting for low-cost index funds over actively-managed funds. Low-cost index funds tend to have significantly lower fees and, over time, those savings add up.

    Even small adjustments to your investment strategy today can make a big difference to your future finances.

    What to read next

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

  • ‘Spend Z’: A staggering 40% of Gen Zers plan to splurge more on non-essentials this year compared to last — despite mounting credit card and student loan debt. Is it time for a reality check?

    ‘Spend Z’: A staggering 40% of Gen Zers plan to splurge more on non-essentials this year compared to last — despite mounting credit card and student loan debt. Is it time for a reality check?

    As Trump’s trade policies continue to send shockwaves through the economy — creating fears of rising prices, layoffs and a potential recession — investors are bracing for impact. With markets in flux and uncertainty in the air, financial anxiety is mounting.

    While no one can control the stock market, The Washington Post’s personal finance columnist Michelle Singletary says there’s one thing people can take charge of: their spending. But according to new data, Generation Z isn’t exactly slamming the brakes.

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    In fact, 40% of Gen Zers plan to spend more on non-essential purchases in 2025 compared to last year, according to Northwestern Mutual’s latest Planning & Progress Study — earning the title “Spend Z.” Their intention to spend outpaces every other generation and persists despite credit card bills (22%) and personal education loans (16%) being their main sources of outstanding debt.

    While many in this position might choose to cut back on non-essential spending, Gen Z as a whole doesn’t seem to want to make any sacrifices. On a recent episode of the Post Reports podcast, Singletary didn’t mince words when offering advice to young adults navigating these choppy waters: “You have to put your adult hat on and say, ‘You know what? I wish I could eat out, but I can’t.’”

    That may be easier said than done in an age where Uber Eats orders and late-night Shein scrolls feel like self-care rituals. But experts warn that trading savings for short-term splurges could leave young consumers vulnerable — especially with the economy on shaky ground.

    Time to take a second look

    There’s a good chance you may have found yourself uttering the phrase, “I really shouldn’t be spending this much” — mid trip to the mall with an oat milk latte in hand. But despite headlines warning of an economic slowdown and the not-so-soft whisper of a recession, a growing number of young adults are choosing indulgences over budgets.

    According to a 2023 Morning Consult report, Gen Zers and millennials are spending more than $400 a month on non-essential purchases like travel, recreation and dining out. That’s significantly higher than the $250 Gen Xers spend and double the nearly $200 boomer benchmark.

    The economy as a whole is still banking on consumer resilience. The National Retail Federation projects 2025 retail sales will hit $5.42 trillion, perhaps driven in part by younger generations keeping their wallets open, even as their savings shrink.

    While the impact of economic uncertainty may not yet be visible in your day-to-day life, it’s likely on the horizon. And when it arrives, you’ll want more than just a closet full of trending accessories. A well-padded emergency fund will offer the kind of value fast fashion can’t.

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    Finding the balance

    Prioritizing wants over needs during economic uncertainty can leave young consumers vulnerable to debt, with little to fall back on when the unexpected hits. “Now that you’re a young adult, you’ve got bills to pay. You have to save for retirement. You have to save for an emergency fund. Maybe you’ve got young children yourselves,” Singletary said on the podcast.

    You can start by building a budget. Not just a mental tally of your spending — but a written, trackable plan that accounts for fixed expenses, savings goals and the real cost of lifestyle choices. Even small changes can have a lasting impact. For example, swapping food delivery for planned grocery runs can save hundreds each month while teaching discipline in spending.

    Next, it would be a good idea to create an emergency fund. You could aim to save up three to six months’ worth of your essential expenses and make each contribution non-negotiable, like rent. This cushion can help cover job loss, medical bills or even the inevitable life hiccup — all without reaching for a credit card.

    Aside from an emergency fund, you could also start contributing to a retirement account — whether it’s a Roth IRA or 401(k). Putting even a small amount away now allows compound interest to do the heavy lifting long term.

    And if you’re still craving that big splurge, you can budget for it by setting aside a small amount regularly and make it a conscious reward — not a spontaneous swipe.

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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 will halt life-saving research’: Trump freezes $2.3B in funding to Harvard — threatens school’s tax-exempt status as the White House escalates its crackdown on elite universities

    The federal government has already frozen $400 million in funding to Columbia University as part of a campaign targeting elite academic institutions. Now, the Trump administration is setting its sights on Harvard.

    After the university recently rejected a series of demands from the Trump administration — arguing they would effectively hand control of the school over to a conservative government — federal officials announced they were freezing $2.3 billion in funding to Harvard.

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    Shortly after the frozen funds were announced, Trump doubled down on his threats, stating that he’s considering revoking Harvard’s tax-exempt status.

    The frozen funds and expanded threats come as the Trump administration continues to scrutinize Harvard’s $9 billion in federal contracts and grants, part of the administration’s broader campaign to address the antisemitism that it believes was prevalent on college campuses during pro-Palestinian protests over the past 18 months.

    In a joint statement, the Departments of Education, Health and Human Services and the U.S. General Services Administration said they are reviewing $255.6 million in contracts between the federal government, Harvard and its affiliates — along with $8.7 billion in long-term grant commitments.

    "If this funding is stopped, it will halt life-saving research and imperil important scientific research and innovation," said Alan Garber, President of Harvard University, in a written statement.

    As the federal crackdown intensifies, it could fundamentally alter the way universities function — affecting how research funding is distributed and creating new barriers for students pursuing higher education.

    What’s really going on?

    On April 3, the U.S. Department of Education placed Harvard University under administrative review, signaling heightened federal scrutiny over the institution’s core operations.

    The review includes several preconditions the Trump administration believes are “necessary for Harvard University’s continued financial relationship with the United States government.” These demands include oversight of hiring practices, admissions, student discipline, governance and academic leadership.

    In response, a number of Harvard faculty members expressed concern over the administration’s move, framing it as a challenge to institutional autonomy.

    Some argue that Harvard, with its $53.2 billion endowment — the largest of any university in the world — is financially well-positioned to withstand potential federal funding cuts. Approximately 20% of the endowment is unrestricted, giving the university discretion over nearly $10 billion in funds.

    In a recent statement, Garber emphasized the university’s commitment to its mission and academic freedom, stating, “We resolve to take the measures that will move Harvard and its vital mission forward while protecting our community and its academic freedom.”

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    What does this mean for students?

    Dr. Ezekiel Emanuel, Vice Provost for Global Initiatives at the University of Pennsylvania, emphasizes that these cuts could hinder scientific research and local economies. He notes that major advancements since 2000, such as mRNA vaccines and GLP-1 anti-obesity drugs, originated from university labs. Reduced funding may limit students’ opportunities to engage in this sort of groundbreaking research.

    The consequences are also being felt by international students. Deportation proceedings have begun for some international students who were detained after participating in pro-Palestinian demonstrations. Additionally, visas for several hundred foreign students have been canceled, a development that may affect future enrollment figures.

    In a public letter, Garber argued the Trump administration’s demands extend well beyond combating antisemitism, calling them an attempt to regulate the “intellectual conditions” of higher education.

    “No government — regardless of which party is in power — should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue,” Garber wrote.

    For students, the financial toll may prove to be the most immediate concern. With reduced federal support, students could face greater reliance on private loans to meet rising tuition costs — widening the access gap and placing higher education further out of reach for low-income students.

    Uncertainty about the future of funding has led some universities to accept fewer graduate students, narrowing many pathways to advanced degrees and research opportunities. Many graduate students depend on federal research grants for scholarships and stipends, and funding cuts can directly impact their academic and professional trajectories.

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