enRICHed: volume 184
how are we halfway through the year already
Sunday May 31, 2026
Volume 184
Hey besties!
Has anyone else noticed that literally every checkout page now wants you to split your purchase into “four easy payments”? Buy Now, Pay Later services make spending feel way less painful in the moment… but that’s kind of the problem.
This week on Networth & Chill, we’re diving into the truth about Buy Now, Pay Later and why these payment plans can quietly spiral into a financial mess if you’re not careful. I’m breaking down how BNPL exploded in popularity, why it changes the way people psychologically approach spending, and how multiple tiny payments can trick you into thinking you’re spending less money than you actually are. If you’ve ever felt tempted to check out with Klarna because “it’s only $27 today”… this episode is for you.
New episodes of the podcast drop every single Wednesday so be sure to subscribe to my YouTube channel HERE or follow Networth and Chill wherever you get your podcasts!
As a reminder:
HYCU, pronounced haiku: how the news impacts you and your wallet, aka How You Can Use
The Prosperitea: think discount codes, non-boring finance articles, sales, and personal links from the week. The fun stuff 😉
We love your comments, but please remember to keep it positive! And don’t take investing advice from anyone who isn’t your registered financial advisor!
Now that you’re up to speed, let’s get you enRICHed.
Wall Street’s Booming 🤔💸
If you’ve taken a look at your stock portfolio recently, you’ll probably see a really surprising image: you’re making money. Like, a ton of money. The S&P 500 has been on a red-hot streak this month, notching nine record highs in May alone. Yet gas prices are still criminally high, it costs $25 to buy a drink at a bar now, and everyone’s losing their jobs to AI. So what gives? Why is this happening?
You may feel like a gloomy goose about the economy, but that’s because this current system isn’t set up to help you — it’s here to prop up businesses, which is why we’re seeing a huge boom in the stock market while individual people are feeling down. Tech companies saw earnings growth of an average of 50% in three months this year — five times the normal growth they see. Meanwhile, corporations across other sectors boosted their earnings growth by 20% in the first quarter, or double the typical rate.
Why? Under the Trump administration’s Big Beautiful Bill, businesses are having a great time in this economy. They got lower tax rates, plus other deductions and breaks enacted last year, which means that their earnings are up, even if they’re telling you that they can’t afford to give you a raise this year.
This shockingly good profit jump means that when it comes time for investors to analyze the S&P 500’s price-to-earnings ratio, they said that the index’s ratio has actually fallen, because these big companies’ earnings have increased faster than the market trend. And this situation is basically going to make stocks look more affordable and attractive to investors.
HYCU; You may wonder, is this a good time to invest? It’s possible that between AI optimism and the fact that we’ll have this president for the rest of the year, the market could just keep on climbing to the moon. But just like anything, there are definitely still scenarios that could end this streak, whether it could be cracks in the AI bubble, the Fed’s decision to hold off on lowering rates, or any changes to the war on Iran. And bottom line, all of this basically means that rich people are getting richer via their investments in the stock market, and people who are already tight on money are being forced to stretch their budgets even thinner.
Best If Used For A While… 🥬🥕
We’ve all had the experience of trying to finish the giant bag of spinach before it completely wilts, but a new report from loan platform NetCredit shows that many, many Americans are throwing away food too early for one reason: they don’t understand the food date labels.
Perishables are the most common offender for hitting the trash can too soon — we’re talking bananas, potatoes, milk, and chicken. The study, which was reported in Food & Wine, found that Americans normally toss 22.7% of all bread and 22.6% of all lettuce purchased. That’s about $728 of edible food thrown out, per person, per year.
You might not have known that the food labels aren’t actually safety indications. According to the US Department of Agriculture’s (USDA) Food Safety and Inspection Service guidelines, they’re more recommendations of when the food is going to be the freshest to consume. They also don’t mean the same things — “Best if Used By/Before” is an indication of when the USDA thinks the flavor will be best, and “Sell-By” is just telling the store how long to display the product for sale while at peak quality. The only exception is baby formula, which does have a safety date labeled on it.
HYCU; It totally makes sense to be afraid to eat food that could get you sick! But if you want to potentially save thousands of dollars and avoid contributing to food waste, there are ways you can make sure you’re not always fighting time to finish your avocados. Learn how to properly package and store your produce so it lasts for weeks, make sure to freeze what you can to make sure you’re getting the most bang for your buck. NetCredit said learning these things could save you up to $2,000 annually. And if you’ve ever been clowned for eating something past its “Best By” date, take this as a major win for your camp — it actually was completely fine to eat all along.
Hunger’s Hitting 🍜😪
Speaking of food news, a survey released this week by the Federal Reserve Bank of New York found people are experiencing higher levels of food insecurity this year than during the summer of 2020, when COVID was causing double-digit unemployment.
In the data, 10% of families reported missing meals for lack of food and nearly 16% said they were relying on food donations. Among families earning less than $50,000 a year, rates of food insecurity were about twice as high, with nearly 20% forced to skip meals or go without. More people are also relying on public food assistance programs like SNAP, even though qualifying for it has become harder — nearly 18% of families surveyed this year had received SNAP benefits, up from 10.6% in 2020.
Hunger is a problem that’s always closer than you think, and right now, it’s a really timely issue. The World Food Programme announced this week that 363 million people around the world are now at risk of acute hunger, with 45 million of them as a direct result of the war on Iran, specifically because of the oil prices causing food shortages all over the world.
HYCU; For all families who are skipping meals right now to keep the lights on or make monthly rent, there are still resources you can take advantage of to make sure you eat. Check out programs like WIC (support for mothers and children), CSFP (support for seniors), SFMNP (coupons and checks for locally grown foods), TEFAP (assistance if you got denied from SNAP), and external programs like Meals on Wheels. There’s no shame in the game — rich people are getting tax break help from the government, so you should be able to get help, too. And if you do have the means, donate food to your local food banks, drives, and community fridges. They can count as tax write-offs with eligible charities, and more importantly, we should all be doing what we can to help a neighbor out.
Carolyn asks, “My son sent a video about filing your taxes every 21 days, monthly even quarterly. Is this valid?”
Hey Bestie! This sounds like a scam, and I’m glad you’re checking before doing anything with it.
Filing tax returns every 21 days or monthly is absolutely not a legitimate tax strategy — it’s actually a red flag for tax fraud. Here’s what’s really happening: Scammers are promoting schemes where they promise people can file multiple returns throughout the year to get frequent refunds. This is completely illegal. The IRS has specifically warned about these types of fraudulent filing schemes, and they’ve been cracking down hard on people who try this.
The reality about tax filing: You file your tax return once per year for the previous year’s income. That 21-day timeframe the video mentions? That’s actually how long it takes the IRS to process a legitimate refund when you file electronically with direct deposit, not how often you can file. People who fall for these schemes can face serious consequences including hefty penalties, interest charges, and even criminal fraud charges. The IRS has been using AI and other tools to catch these fraudulent returns faster than ever. If anyone is offering to help file multiple returns or promising quick refunds through frequent filing, run the other way. For legitimate tax help, stick to licensed tax professionals or the IRS’s own free filing options if you qualify. The IRS only contacts people through official mail, never through random videos promising get-rich-quick tax schemes!
One quick side note: some people DO need to think about their taxes more than once a year, but certainly not every 21 days! Quarterly estimated taxes are real and legal, but they’re not about filing full tax returns every quarter. Here’s what actually happens:
Who: Self-employed people, freelancers, small business owners, and anyone who doesn’t have taxes automatically withheld from their paychecks. If you expect to owe $1,000 or more when you file your annual return, the IRS wants you to pay estimated taxes quarterly.
What: You’re making estimated tax payments four times a year (April 15, June 15, September 15, and January 15), not filing complete tax returns. You use Form 1040ES to calculate and send these payments. It’s basically paying your taxes in installments instead of one big chunk at tax time.
The annual return still happens: Even if you pay quarterly, you still file just one complete tax return per year by the April deadline (or request an extension). The quarterly payments get credited toward what you owe for the year.
Why the video was a scam: Promising you can file full tax returns every 21 days to get multiple refunds is completely different from legitimate quarterly estimated payments. That’s straight-up fraud.
So yes, quarterly tax obligations exist, but they’re about making payments throughout the year, not gaming the system for frequent refunds!
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SEE YOU IN THE COMMENTS BESTIES
What a kind thing to write about people not needing to feel shame about using food banks etc… I love how compassionate you are. I also loved your YouTube today about educating oneself rather than buying things-wonderful!
Worth sharing your annual income with one of your banks? One wrote saying they use it to recommend credit card limit increases… But is this the only reason why banks might want this info?