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  • Is a rate cut coming in 2025? Here’s what to watch in the next few weeks and months

    Is a rate cut coming in 2025? Here’s what to watch in the next few weeks and months

    As inflation slows and consumer spending stalls, many Canadians are wondering when — or if — the Bank of Canada (BoC) will finally cut interest rates.

    While a rate cut at the next policy announcement on July 30, 2025, seems unlikely, experts are watching several key indicators to assess whether a move is coming before the end of the year.

    Here’s what to track — and what it means for your money.

    1. Inflation trends

    The Bank of Canada’s primary job is to keep inflation within a target range of 1% to 3% (with 2% often cited as the ideal target). In June 2025, inflation rose by 1.9%, comfortably within that band. But rate decisions aren’t just about hitting the target, they’re about maintaining momentum. For that reason, the BoC will be watching:

    • Core inflation (excluding food and energy): If it stays soft, the BoC may lean toward easing
    • Month-over-month changes: Flat or negative readings could build the case for a rate cut (even a small quarter percent may be enough to prompt an economic uptick)

    2. Labour market strength

    A strong job market usually makes the Bank less inclined to cut rates. In June, employment rose and the jobless rate dipped — signs that Canadians can handle current borrowing costs. But the BoC is also aware that many of these jobs were part-time — meaning full-time, secure employment is still eluding many capable working-age Canadians. In the weeks and months to come, watch for:

    • Unemployment rate spikes, especially among youth or part-time workers
    • Wage growth trends (if paycheques flatten or shrink, pressure builds to ease rates)

    3. Consumer spending and debt strain

    The BoC’s own surveys show Canadians are delaying big purchases and saving more. Mortgage renewals at higher rates are squeezing household budgets, and consumer debt delinquencies are climbing. In a recent Money.ca survey, approximately two-thirds (64%) of respondents identified "cost of living" as their primary economic concern — surging ahead of other concerns including debt, higher interest rates and even job security.

    In the weeks and months to come, watch for:

    • Retail sales and consumer confidence reports
    • Credit card and personal loan default data, especially from banks and Equifax
    • Mortgage renewal statistics, particularly among variable-rate borrowers

    4. Business sentiment and investment

    According to the Bank of Canada’s latest Business Outlook Survey, confidence remains “subdued.” Many firms are absorbing rising costs instead of raising prices, but margins are tight. They’re also holding off on expansion due to trade tensions with the U.S.

    As a result, Bank analysts and economic experts will be watching:

    • Capital expenditure data — if businesses freeze spending, it signals weakness
    • Export figures — impacted by tariffs and U.S. trade uncertainty

    5. International developments

    Global factors, especially U.S. monetary policy and ongoing trade negotiations, heavily influence the BoC’s direction. A stable trade deal with the U.S. — or an aggressive rate cut by the Federal Reserve — could nudge Canada toward its own move.

    Watch for:

    • Federal Reserve decisions (especially if they cut before fall)
    • Canada–U.S. trade updates — clarity on tariffs and regulations could boost confidence

    What it means for you

    If the Bank of Canada cuts rates later this year, Canadians could see:

    • Lower mortgage rates, especially variable-rate products.
    • Cheaper loans, including car loans and lines of credit.
    • Reduced savings account returns, which could impact retirees or those living off interest.
    • A weaker Canadian dollar, possibly increasing the cost of imports and travel.

    Bottom line

    The July 30, 2025, Bank of Canada rate announcement is likely to result in a rate hold, but that doesn’t mean the Bank if finished with rate cuts in 2025. If inflation stays tame and economic growth continues to soften, a rate cut could arrive as early as fall. Until then, Canadians should brace for a cautious wait-and-see approach from central bankers.

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

  • ‘It might not be ideal’: This 60-year-old Arizona woman still dreams of owning her own home one day — but she only makes $2,800/month. Here’s what The Ramsey Show hosts told her to do ASAP

    ‘It might not be ideal’: This 60-year-old Arizona woman still dreams of owning her own home one day — but she only makes $2,800/month. Here’s what The Ramsey Show hosts told her to do ASAP

    She’s debt-free, has some savings and no major expenses. But at 60, Andrea still isn’t sure she can buy a home or retire — and she called into The Ramsey Show to ask if it’s even possible.

    “I want to own a home and retire one day,” the Phoenix, Arizona resident told co-hosts George Kamel and Dr. John Delony.

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    But with a modest monthly income of $2,864 and no retirement strategy in place, she’s unsure how — or if — she can make that dream a reality. Here’s the skinny on her retirement plan and how it can help you.

    Breaking down her income

    Andrea lives with her son and his family and only pays for car insurance, gas and the occasional incidental. That leaves her with approximately $2,154 each month to save.

    She has $69,000 in a 401(k) and $45,000 in a savings account. She’s also considering relocating to Ohio, where her aging siblings live, to be closer to family and cut living costs.

    Andrea works in medical records and hopes to move to a remote role at her company that pays about $40,000 annually. She’s also certified in medical coding but hasn’t worked in that role.

    The hosts quickly identified her biggest hurdle: boosting her income.

    “What you’re facing here, Andrea, is an income problem,” Kamel said. “We’ve gotta get your income up because that’s going to create more margin for you to save for that home.”

    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

    Saving for retirement at 60

    Starting late doesn’t mean it’s too late. At 60, Andrea still has solid options to grow her retirement savings.

    1. Put money away for a down payment

    The hosts recommended using her $45,000 as both an emergency fund and a down payment reserve. They advised setting aside three to six months’ worth of living expenses as a safety net, with the rest going toward a future home purchase.

    2. Invest 15% of her income into retirement

    Andrea said she’s currently investing only about 1%. The hosts stressed that saving alone isn’t enough. They encouraged her to invest in mutual funds through her retirement account. If done consistently, she could see 10-12% average returns over time.

    3. Pursue higher-paying roles

    With her experience and certification in medical coding, Andrea could land a better-paying remote job. While her starting salary is $40,000, the field offers room to grow.

    “ Even if it’s not the exact role you want, I would just try to get on a ladder,” Kamel said.

    4. Continue living with family or find a roommate

    To keep saving aggressively, the hosts suggested Andrea stay with her son or consider moving in with her siblings once she’s in Ohio.

    “It might not be ideal,” Delony said, “ but I love the idea of you saving money over the next five or 10 or 15 years until somebody can help you.

    5. Adjust expectations around retirement

    Andrea may need to work into her 70s to reach her goals. That’s not uncommon — in 2022, 24% of men and about 15% of women ages 65 and older were still in the labour force, according to the Population Reference Bureau.

    “ You know you got $69,000 in that retirement account,” Kamel said. “(If) you keep investing, let’s say, a thousand bucks a month. If you can do that to 72, you’ll have over half a million in that nest egg. ”

    He added that she could also get a reasonable mortgage to avoid paying rent forever.

    Andrea’s situation underscores a growing concern for older Americans: how to make a smooth and comfortable transition to retirement. The co-hosts stressed that with focus and a solid long-term plan, Andrea still has a real shot at a meaningful future.

    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 Pennsylvania woman got a $12K utility bill — after waiting months for her statement. And lawmakers now say PECO isn’t acting fast enough for the thousands left in a similar situation

    This Pennsylvania woman got a $12K utility bill — after waiting months for her statement. And lawmakers now say PECO isn’t acting fast enough for the thousands left in a similar situation

    Posiey Brown of Norristown, Pennsylvania, was floored when she opened her PECO energy bill in April — totaling $11,723.93 in charges.

    “There’s no way,” she recalled thinking to CBS News Philadelphia in a story published May 30. It was the first utility bill she had seen in months, and the amount was much higher than anticipated.

    Don’t miss

    Brown says she called PECO after not receiving a statement in August and was told the company had trouble accessing her bill. She continued to seek answers and tried to make partial payments in the meantime, but felt her concerns weren’t being taken seriously.

    As it turns out, Brown wasn’t the only PECO customer to experience billing problems.

    Bizarre billing errors

    Ann Palladino of Whitemarsh Township also reached out to CBS News Philadelphia about her PECO billing problems, and says she’d gone nearly a year without receiving a bill.

    “My daughter told me to contact you because she was tired of me complaining about it,” Palladino told the local broadcaster. “For people who are used to having their bills fully paid and on time, it’s disconcerting”

    PECO confirmed to CBS News Philadelphia that up to 8,000 customers have been impacted by billing glitches since last year after the utility company transitioned to a new billing system. PECO admitted it has not been able to explain why certain accounts were affected, but says it has taken steps to fix the problem, including hiring more staff and setting up an email address dedicated to billing complaints.

    “Many of these issues have been resolved, and we continue working daily to address remaining concerns,” a company spokesperson told the broadcaster.

    Even so, frustration had reached a fever pitch. The Southeast Delegation of Pennsylvania House Democrats sent an open letter to PECO accusing the utility of not acting quickly enough to solve these problems.

    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

    CBS News Philadelphia reports, after it got involved, that PECO determined Brown’s shocking balance was caused by a meter programming error that calculated her usage incorrectly. The company corrected her bill and waived late fees, reducing the total balance to around $900. Brown is now on a payment plan. Palladino told the broadcaster she started receiving statements for previous months, but her bills were not yet current.

    Brown says PECO should have been more proactive and forthcoming about its billing problems.

    “They should’ve notified the customers they were having a billing issue,” she said.

    How to navigate billing issues

    If you’re a PECO customer — or dealing with a billing error from any utility — here are steps to protect yourself:

    Document everything: Save your bills, note when they stop arriving or if you feel there’s a major error, and keep a log of your payment history and any communication with the utility company. Write down the time and what you discussed in phone calls, and try to reach out by email so there’s a paper trail.

    Contact the utility right away: For PECO customers, use the dedicated email ([email protected]) and ask for a written explanation. Make sure to document any attempts at communication, whether you reach someone or not.

    File a complaint: If you’re not getting a resolution, file a complaint with the Pennsylvania Public Utility Commission or your state’s equivalent.

    Contact your local representative: Sometimes outside pressure makes a difference. Your county commissioner, mayor or other lawmakers may be able to help. Local media might also be interested in telling your story.

    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 New Yorker accepted a local grant to fill her yard with native plants, but officials have branded it ‘hideous’ — threatening a $2,000 fine

    This New Yorker accepted a local grant to fill her yard with native plants, but officials have branded it ‘hideous’ — threatening a $2,000 fine

    A Long Island homeowner has found herself in hot water after letting her yard go au natural.

    Xilin Zhang of New Hyde Park, New York, transformed her front yard by replacing her traditional lawn with environmentally friendly native plants, using a $350 local grant that was designed for this purpose.

    Don’t miss

    “It’s a very natural look,” Zhang shared with CBS News. “There’s tons of butterflies and bees and birds coming. It’s not just some grass doing nothing.”

    But local officials who’ve said Zhang’s landscaping looks “hideous” and violates local code have reportedly given her a summons with a fine of up to $2,000.

    “When ugly is that overwhelming, you have to call it what it is," Mayor Christopher Devane told CBS News. “That front yard looks hideous.”

    Fortunately, after four trips to the court, a compromise was reached between Zhang and local officials: the summons would be dismissed if the garden was kept below four feet. And while the mayor is happy that the situation has been resolved, he believes these kind of gardens need to look more aesthetically pleasing for this idea to catch on.

    “There should be a happy medium," said Mayor Devane. "That, in my opinion, is not it."

    Going au natural is a growing trend

    Thanks to the non-profit organization Rewild Long Island, Zhang is part of a movement that encourages homeowners to transform traditional lawns into native plant gardens that require fewer resources and provide greater ecological benefits.

    "There are lots of towns on Long Island which are encouraging people to put in wild flowers because they don’t want all that pollution going into the bay," said Raju Rajan, president of Rewild Long Island.

    Natural gardens are beneficial because they offer a deeper root system than traditional grass lawns. While turf grass has a root system that’s about two inches deep, the roots from native plants can grow up to 15 feet in depth, allowing them to absorb ten times more rainwater than a typical lawn.

    Native plants also attract birds, butterflies and bees by providing food, shelter and breeding sites that are essential for their survival.

    "Sustainable gardens are not just beautiful for the eye," said Mindy Germain, the water commissioner in Port Washington, New York. “They protect our drinking water. We’re trying to move away from these big green lawns that are sucking up too much water from our aquifer."

    And the movement is growing. Many communities outside of New York state — including Green Bay, WI, Cincinnati, OH, and Bellevue, WA — have recognized the benefits of natural lawns by adopting ordinances that promote native plant landscaping.

    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 to plant a native garden without the backlash

    If you’re thinking about converting your grass lawn into a native garden but want to avoid the headaches that Zhang experienced, the best way to do so is to be proactive:

    • Consult with local officials and neighbors to understand potential concerns
    • Focus on aesthetics that match community standards
    • Create clear borders to show intentional design rather than neglect

    Natural lawns offer significant environmental benefits, but local regulations vary by location. Because of this, it’s critical to communicate with neighbors and authorities to understand not only legal concerns but also the aesthetic concerns that neighbors might have.

    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.

  • ‘Why us?’: This NYC homeowner found a phone wrapped in duct tape buried in her lawn — and police say it’s part of a new tactic burglars are using to spy on potential victims

    ‘Why us?’: This NYC homeowner found a phone wrapped in duct tape buried in her lawn — and police say it’s part of a new tactic burglars are using to spy on potential victims

    A Queens woman found what looked like a phone buried in her front lawn — but it wasn’t just lost property.

    Mary Kehoe, who’s lived in her Forest Hills home for 35 years, spotted the strange device outside. It looked like an Android phone wrapped in black tape, with only the camera exposed — like it was made to watch, not call.

    Don’t miss

    “Why us? I had lots of things going through my head as to why they chose our lawn but realized we are in the middle of the block,” Kehoe told KTVZ 21.

    Experts warn that these kinds of planted devices may be part of a growing tactic used by burglars to spy on homeowners, tracking their daily routines or scouting for valuables. And it’s not just an isolated case — similar incidents have popped up across the Tri-State Area.

    Here’s how to identify these devices and what to do if one shows up in your yard.

    Not just paranoia

    Discovering a hidden device on your lawn isn’t just unsettling — it’s a serious breach of privacy. And unfortunately, it’s happening more often.

    Police say covert surveillance cases like this are turning up across the country, including in California, Massachusetts, New Jersey and even quiet neighborhoods like Scarsdale. And the tools being used aren’t high-tech spy gadgets.

    “It could be any type of camera that is digital and wireless. It could be cheap; it could be expensive,” Sergeant Vahe Abramyan of the Glendale Police Department told the Los Angeles Times. “You can go on Amazon or go to Best Buy to get one.”

    That’s exactly what happened in Garden Grove, where a resident discovered a camera hidden in a neighbor’s bush — aimed directly at her home. According to KTLA, the neighbor initially thought it was trash, but inside the bag was a camera and battery pack.

    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

    Staying safe

    With these surveillance tactics on the rise, there are steps you can take to protect yourself and your neighborhood.

    “Put your alarms on, put lights on, and be aware. And we’re a nice little block here that we look out for one another, so when people do go away, they let us know so we can take a walk down their driveway and make sure everything is safe,” Kehoe said.“We are now watching.”

    In Kehoe’s Forest Hills community, neighbors are banding together — keeping a closer eye on their lawns, shrubs and anything that seems out of place.

    Police recommend trimming hedges to eliminate hiding spots, installing motion-detecting lights and staying alert for camouflaged devices that could be stashed in your yard. Burglars may also drive through a neighborhood or pose as salespeople to scout homes and monitor routines.

    If something seems off — even a strange light or an out-of-place item in your yard — don’t ignore it. Report it to your local authorities right away.

    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 San Diego married couple lives paycheck to paycheck on $500K-$600K a year — admits to $30K in monthly expenses including car lease payments. Here’s Dave Ramsey’s advice

    This San Diego married couple lives paycheck to paycheck on $500K-$600K a year — admits to $30K in monthly expenses including car lease payments. Here’s Dave Ramsey’s advice

    We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

    Despite earning an estimated combined income of $500,000 to $600,000 a year, Bill from San Diego admits he and his wife struggle to save any money — and it’s easy to see why.

    “Our monthly expenses are about $30,000, and then add taxes to that, so we pretty much even out every year,” Bill told Dave Ramsey on an episode of “The Ramsey Show” in a clip posted Jan. 13.

    Don’t miss

    An exploration of the San Diego, California, couple’s finances and spending habits reveals how even high-earning households can struggle and end up living paycheck to paycheck.

    Spending problem

    A 2023 Empower survey found that 71% of U.S. adults believe earning more money would solve most of their problems, a mindset Ramsey once shared. However, he learned that higher earnings can’t fix poor organization and lack of detail.

    Bill’s case shows that increasing income isn’t enough. He and his wife spend $12,000 a month on mortgages, $8,000 to $10,000 on charity, and $750 on a leased vehicle.

    Ramsey considered their spending excessive, comparing it to “throwing a bale of dollars over the fence and coming back to see what’s left.” He advised them to create a detailed budget that tracks every dollar in and out.

    Budgeting and tracking can help you understand where your money is going, so you can make every dollar work for you.

    You can keep a close eye on your finances with a money management platform such as Monarch Money, which can give you a clear view of where you’re overspending. It also helps you monitor your expenses and payments in real time.

    For a limited time get 50% off your first year with the code MONARCHVIP.

    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

    Easy targets

    Data from Bank of America shows that 20% of households earning over $150,000 lived paycheck to paycheck in 2024, often due to expensive homes and high mortgage payments.

    However, Bill and his wife seem to be spending just as much on their mortgages as they are on easily avoidable expenses. For example, they lease a vehicle, which Ramsey believes is unnecessary given their income. He suggested buying the car outright instead.

    Additionally, nearly a third of their monthly expenses go to charity. While Ramsey supports generosity, he advised the couple to adjust their donations temporarily, especially since they aren’t investing.

    Even high-income earners can struggle to save and invest, often facing lifestyle inflation and increased spending.

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    Open your account today and receive a $50 bonus to jumpstart your investment journey. Whether you’re saving for retirement, a home, or building generational wealth, Wealthfront’s low-cost, automated investment strategy can help you achieve your financial goals.

    Get help from a professional advisor

    Seeking professional help from a financial advisor can be a game-changer when it comes to managing your money. According to Vanguard’s research, people who work with financial advisors see a 3% increase in net returns. This difference can be substantial over time. For example, if you’re starting with a $50,000 portfolio, you could potentially retire with an extra $1.3 million after 30 years of professional guidance.

    If you’re unsure which path to take amid today’s market uncertainty, it might be a good time to connect with a financial advisor through Advisor.com.

    This online platform connects you with vetted financial advisors best suited to help you develop a plan for your new wealth.

    Just answer a few quick questions about yourself and your finances and the platform will match you with an experienced financial professional. You can view their profile, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

    You can view advisor profiles, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

    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.

  • Are US taxpayers getting ‘DOGE dividend’ checks? What we know about the idea floated by Trump and Musk — and if we do get them, why they might only cover a fraction of the cost of tariffs

    Are US taxpayers getting ‘DOGE dividend’ checks? What we know about the idea floated by Trump and Musk — and if we do get them, why they might only cover a fraction of the cost of tariffs

    Back in February, James Fishback, founder and CEO of investment firm Azoria, proposed the idea of a “DOGE dividend” on social media. It was an idea that caught the attention of Elon Musk.

    “American taxpayers deserve a ‘DOGE Dividend’: 20% the money that DOGE saves should be sent back to hard-working Americans as a tax refund check,” Fishback posted on X. “It was their money in the first place!”

    He went on to say that — with $2 trillion in savings from the Department of Government Efficiency (DOGE) and 79 million tax-paying households — this payment would work out to about $5,000 per household, “with the remaining used to pay down the national debt.”

    Don’t miss

    DOGE chief Musk — who has since stepped back from the role — responded by saying he’d share the idea with President Donald Trump. The president then promoted the idea onstage at a summit on Feb. 19.

    So, can you expect a DOGE dividend check any time soon?

    Who would be eligible?

    Fishback’s proposal assumed that DOGE would achieve up to $2 trillion in cuts — but that doesn’t appear likely. Indeed, Musk revised the savings goal a few times from $2 trillion to $1 trillion and now $150 billion for fiscal year 2026.

    If, however, DOGE was able to achieve $2 trillion in cuts, Fishback says 20% — or $400 billion — could then be divided among 79 million taxpaying households. That works out to $5,000 per household.

    But his DOGE dividend would only go to households above a certain income threshold (those who don’t get a tax refund). In other words, lower-income Americans may not qualify.

    Many Americans who have an adjusted gross income of under $40,000 owe little or no federal income tax, “especially after factoring in the effects of refundable tax credits, such as the child and earned-income credits,” according to the Pew Research Center.

    Fishback says this makes the DOGE dividend different from the stimulus checks sent out as part of the 2021 American Rescue Plan during the COVID-19 pandemic — in which, he says, checks were sent out “indiscriminately,” according to NBC News.

    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

    It’s worth noting that a dividend isn’t the same thing as a subsidy. A dividend is a distribution of profits by a corporation to its shareholders, while a stimulus check is a payment made by a government to its citizens in order to stimulate spending and boost consumer confidence during times of economic hardship.

    Coming up short

    As of June 29, the DOGE website indicated that it has saved $190 billion through a “combination of asset sales, contract/lease cancellations and renegotiations, fraud and improper payment deletion, grant cancellations, interest savings, programmatic changes, regulatory savings and workforce reductions.” The amount saved per taxpayer is $1,180.12.

    While this falls far short of the $2 trillion goal, several news organizations have also reported that DOGE previously overstated some of its savings and published errors and misleading information.

    At the same time, DOGE could actually cost taxpayers $135 billion this fiscal year, according to an estimate from the Partnership for Public Service, a nonpartisan research and advocacy group for the federal workforce, per CBS News. This includes the costs associated with re-hiring mistakenly fired workers, lost productivity and paid leave for thousands of federal workers.

    “The $135 billion cost to taxpayers doesn’t include the expense of defending multiple lawsuits challenging DOGE’s actions, nor the impact of estimated lost tax collections due to staff cuts at the IRS,” reports CBS News.

    Either way, not much has happened lately to carry the idea forward. A formal proposal for a dividend has yet to be made in Congress. Even if Americans were to get a check, at this point, it seems unlikely to amount to much. Since DOGE has revised its savings from $2 trillion to $150 billion, 20% (or $30 billion) would mean a one-time DOGE dividend of around $380.

    At the same time, as of July 15, estimates by the nonpartisan Tax Foundation show Trump’s tariffs could cost American households an average of $1,296 in 2025.

    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.

  • 400 tons of apricots could go to waste after a buyer bailed on these California farmers — here’s their desperate plan to race against rot

    The orchard branches are weighed down with apricots, but what looks like a bountiful harvest is causing massive strain for Fantozzi Farms.

    The farm based in Patterson, California was on track to sell its apricot harvest to its usual buyer. But days before harvest, the deal unexpectedly collapsed.

    Don’t miss

    “They buy our crop each year, and this year things were progressing along as normal,” co-owner Denise Fantozzi told KCRA 3 News. “We were fully intending to sell our entire crop to this company.”

    The deal was based on a long-standing verbal agreement, but the family soon discovered part of the buyer’s company had been sold off and they no longer wanted the crop.

    Now, the farm is sitting on 400 tons of fresh apricots, roughly 32,000 boxes, with no major buyer in sight.

    Long-term consequences

    If a buyer doesn’t step in fast, hundreds of thousands of dollars could be lost — not just in this season’s revenue but in long-term damage to the trees.

    “It’s pretty devastating actually,” said Fantozzi.

    The weight of unpicked fruit is already straining the orchard. In some sections, apricots that should’ve been harvested weeks ago are causing limbs to break.

    “It’s also going to take several years for the orchard, the trees themselves, to recover,” Fantozzi added. “We don’t have a whole lot of time left. Apricots are very perishable.”

    Broken branches aren’t just a sad sight. They’re a financial red flag for farmers and their lenders. It’s a long-term productivity hit.

    Broken limbs mean fewer fruit-bearing branches next year — potentially for multiple seasons. Damage can also invite pests and diseases like bacterial canker.

    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

    Broken branches, broken budgets

    Tree damage isn’t just about next year’s harvest. Productive orchards are used as collateral in agricultural loans. If the orchard’s earnings take a hit, so does its value, which could lead to tighter lending conditions or even demands for more collateral.

    A recent decline in the income of America’s farms is increasing risks to lenders, according to the Federal Reserve Bank of Minneapolis. With high interest rates and slim margins, distressed agricultural borrowers are becoming more common.

    Many farmers are relying on government support, with over $2.5 billion in aid issued to distressed farm loan holders under the Inflation Reduction Act.

    For now, Fantozzi Farms is running a last-ditch “u-pick” program, hoping to get locals to pay a few bucks to pick their own fruit.

    “They need 30,000 people to buy boxes of apricots,” Christine Eleria-Fairfax, a customer at the farm, told KCRA 3 News.

    It’s making a dent. The farm originally had 500 tons of apricots to sell, and customers eager to help have taken 100 tons off their hands.

    “We have seen customers coming to us from all over Northern California and even as far away as Los Angeles and San Diego,” Fantozzi said.

    But the clock is ticking, and a major buyer still hasn’t appeared to take care of the lion’s share of the harvest. Fantozzi Farms is also donating some of the fruit to food banks.

    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.

  • ‘It felt like I was in a movie’: North Korean agents infiltrated this Atlanta man’s business, gaining his trust as ‘super-duper talented’ remote workers — then stole $1M in crypto

    ‘It felt like I was in a movie’: North Korean agents infiltrated this Atlanta man’s business, gaining his trust as ‘super-duper talented’ remote workers — then stole $1M in crypto

    It sounds like the plot of an action-thriller, but for one Atlanta tech entrepreneur, an elaborate cryptocurrency theft involving North Korean assets became his reality.

    “It felt like I was in a movie,” Marlon Williams told Channel 2 News (WSB-TV). “That’s where we see these things, right?”

    Rather than a phishing scam with criminals pretending to be a bank or government agency and requiring payment in cryptocurrency to ‘solve’ an ‘urgent’ issue, this was a long con orchestrated over two years.

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    Williams thought he had hired remote IT workers for his Atlanta-based blockchain research and development company, Starter Labs. Instead, the ‘workers’ were North Korean nationals using stolen identities, according to the FBI.

    After gaining his trust, they were able to infiltrate the business, eventually making off with just over $1 million in cryptocurrency.

    The unfolding of a long con

    Four men — Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju and Chang Nam Il — have been indicted on charges of wire fraud and money laundering, according to a now unsealed federal criminal indictment.

    This is part of a larger investigation by the FBI and U.S. Department of Justice (DOJ) into North Korea’s so-called remote IT worker program in which skilled North Korean agents infiltrate American companies using a mix of stolen and fake identities.

    Using the stolen identities of at least 80 Americans, North Korean agents have been able to find remote work at more than 100 American companies and then steal and launder virtual currency, according to the DOJ.

    This money is used to generate revenue for the Democratic People’s Republic of Korea (DPRK), including its weapons program.

    Williams was one of those targets. He hired one of the men — who reached out through the Telegram app via a fake identity — to work on a project. Williams was impressed with his work, telling Channel 2 News he was “super-duper talented.”

    So Williams hired him for more projects, eventually promoting him to the role of chief technology officer and allowing him to hire additional staff.

    The con took place over about two years during which time he gained Williams’ trust.

    “He had the power to create malicious code that he installed and that allowed him to withdraw the funds completely,” Williams said.

    “The threat posed by DPRK operatives is both real and immediate. Thousands of North Korean cyber operatives have been trained and deployed by the regime to blend into the global digital workforce and systematically target U.S. companies,” U.S. Attorney for the District of Massachusetts Leah B. Foley said in a statement.

    The investigation into North Korean criminal activity has so far resulted in an arrest, two indictments, searches of 29 “laptop farms” across 16 states and “the seizure of 29 financial accounts used to launder illicit funds and 21 fraudulent websites,” according to the DOJ.

    The four North Koreans are now wanted by the FBI, but they’re not in the U.S. They were allegedly working out of the United Arab Emirates with North Korean travel documents. As for their victims? It’s incredibly difficult to recover virtual currency and there’s usually no insurance for lost or stolen cryptocurrencies.

    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 to protect yourself from crypto risks

    When it comes to cryptocurrency such as Bitcoin and Ethereum, industry regulations are still being developed. Since crypto doesn’t require an intermediary (like a bank), it can also be used by criminals to hide their activities.

    While we could see the passage of the GENIUS Act in the second half of 2025 — designed to regulate the digital currency industry — some critics say it will make the financial system less stable.

    As an asset class, it’s considered to be volatile since its value is often based on market sentiment. For investors, that means it can offer big rewards, but it can also result in big losses. Many financial advisors consider it a ‘discretionary’ investment — meaning don’t invest what you can’t afford to lose.

    Cryptocurrencies aren’t like stocks — or even cold, hard cash, for that matter. The money in your bank account is regulated and insured, but there’s no enforceable regulations or insurance for lost or stolen cryptocurrencies.

    “Cryptocurrency held in accounts is not insured by a government like U.S. dollars deposited into an FDIC insured bank account. If something happens to your account or cryptocurrency funds — for example, the company that provides storage for your wallet goes out of business or is hacked — the government has no obligation to step in and help get your money back,” warns the Federal Trade Commission.

    For individuals, staying safe means keeping your wallet keys private. Ignore cold calls about crypto investment opportunities and any ‘too good to be true’ offers. If you’re experiencing high-pressure tactics, keep in mind that fraudsters often use a sense of urgency as part of their scam.

    For businesses, FBI Atlanta suggests using additional layers of scrutiny in the hiring process for remote IT workers.

    Specifically, the FBI recommends using identity-verification processes “during interviewing, onboarding and throughout the employment of any remote worker,” as well as cross-checking HR systems for other applicants with the same resume content. In addition, “complete as much of the hiring and onboarding process as possible in person.”

    That’s something Williams is considering.

    “Going back to the fundamentals of business, meeting you face-to-face and looking in your eye, shaking your hand, that really matters," he told Channel 2 News, "even in these new industries that are developing."

    If you suspect you’re the victim of a similar scam, report the activity to the FBI’s Internet Crime Complaint Center.

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

  • ‘The wrong Enrique Fernandez’: This Florida man faces $3.6M in fines as authorities say he used his dead father’s engineering license to perform over 700 building inspections

    ‘The wrong Enrique Fernandez’: This Florida man faces $3.6M in fines as authorities say he used his dead father’s engineering license to perform over 700 building inspections

    Building inspections must be conducted by licensed professionals.

    Unfortunately, in Miami-Dade and Broward counties, hundreds of inspections may have been performed by someone without proper credentials.

    Enrique Fernandez Jr., a South Florida man, has been accused of using his late father’s credentials to submit as many as 724 inspection reports, project affidavits and other building reports.

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    Fernandez denies the allegations that were investigated by WPLG Local10, an area TV station.

    He’s now facing $3.6 million in civil fines, but no criminal charges have yet been laid.

    An assumed identity?

    Local10 News first conducted the investigation into Fernandez Jr. in 2024, after it was discovered that several large building projects had undergone plumbing, electrical and mechanical inspections signed with the name “Enrique Fernandez” and listing license number 21218.

    The actual holder of that license was Fernandez Jr.’s deceased father, who passed away in 2018. News10 provided evidence that Fernandez Jr. renewed his dead dad’s license and changed all of the details in the system so the credentials were delivered to him.

    He then found work with private engineering firms conducting building inspections for the government, signing off on numerous reports, including for a nine-story building.

    Firms he worked for included JEM Inspections and Engineering, NV5, Winmar Construction, and E&K Engineering, although NV5 told News10 that his employment was brief.

    The Florida Board of Professional Engineers took notice of the fraud, and has now filed a 724-count administrative complaint, one for each fake report he allegedly filed. With the board seeking fines of $5,000 per violation, that could add up to a whopping $3.6 million penalty.

    Law enforcement officials are also investigating; however, the state investigator said a detective told her, “He forged a dead man’s signature and used a dead person’s seal. So it makes it more complicated criminally, because there’s no victim.”

    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 to protect yourself from unscrupulous inspectors

    "He’s done a job he wasn’t qualified for," a board inspector told News10 during the initial investigation.

    Fernandez continues to say he’s not to blame, stating, “They have the wrong Enrique Fernandez.”

    Those who are hiring these investigators will need to do their due diligence, including researching the license of the person they hire and making sure all the details match, including full names and the date the license became active.

    Those who suspect something is off should report any concerns to the Board of Professional Engineers to investigate.

    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.