enRICHed: volume 186
bury me in a knicks jersey because it means i’ll probably come back
Sunday June 14, 2026
Volume 186
Hey besties!
I love weddings and I love love…You know what I don’t love? The fact that somewhere along the way, weddings became so expensive that couples are feeling pressured to go into debt just to throw a party.
This week on Networth & Chill, I sat down with Raina Moskowitz, CEO of The Knot Worldwide, to talk about what weddings actually cost in 2026 and how to plan a celebration you love without putting your financial future on the line. We’re getting into why wedding budgets have ballooned over the years, how social media has completely changed expectations, and the biggest financial mistakes couples make when planning their big day. We also talk about vendor negotiations, wedding budget red flags, and what’s actually worth splurging on versus saving your money for.
If you’ve ever looked at a wedding venue quote and briefly considered eloping... 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.
Sun’s Out, Inflation Report’s Out ☀️
Elon Musk just became the world’s first trillionaire, but for the rest of the world, life is only getting more unaffordable. According to new data from the Labor Department, inflation has been on the rise for three months in a row, hitting a three-year high of 4.2% in May.
Energy prices are largely to blame for most of the increase (which is because of, not to sound like a broken record, the war on Iran and the whole Strait of Hormuz thing). But it’s not just from the war — the AI race and Trump-era tariffs have also put strain on prices. What does this mean for us? Well, the summer vacations are definitely going to cost more this year. Flight prices are up nearly 27% and hotel rates up 5%, according to the data, and everything from the outfits to the travel products and tech we want to pack are only getting more expensive, as China’s wholesale prices rose at the fastest pace in almost four years last month because of the war-fueled spike on raw material costs.
On the other hand, it’s probably not going to stop consumers from swiping their card, anyway. The economy is still showing signs of resilience, with gross domestic product growing at an annual rate of 2% in the first quarter of the year. Government spending has also rebounded, which means possibly more services and resources for us coming down the line. Experts think that the tax refunds have something to do with this, since people are getting that sudden direct deposit (but keep in mind, that’s not free money, that’s money you loaned to the government).
HYCU; Elon Musk is about to have more money than the entirety of Taiwan, Singapore, or the next four richest people in the world, but the average person can’t afford their utility bill. Make it make sense! Is anyone going to do anything about this? Well, when asked about the booming inflation, President Donald Trump said “I love the inflation” (bar-for-bar, I’m not being funny) when he was asked if he was worried about the new data. So, I wouldn’t bank on a federal solution coming down the pipeline anytime soon. That means it’s in our hands now. Weird times require weird solutions, and the good news is that there are still plenty of ways you can save on your daily costs. Save on gas with wholesale club memberships, ask for itemized receipts at the hospital to negotiate your medical bills, slash your grocery bill by shopping with services like Misfits Market and Too Good to Go, and make summer travel more affordable by going to places with strong exchange rates and using a VPN when booking.
Cracking Open The (Check)Books 🎓
Regular life isn’t the only thing getting more expensive. The traditional paths to climb the socioeconomic ladder and earn more are also getting pricier. Specifically, The Princeton Review released new data that revealed 16 colleges and universities now have a sticker price of over $100,000 per year, including New York University, Duke University, and my alma mater, the University of Chicago.
This number includes everything — tuition, fees, housing, et cetera, but $100,000 is as much as the yearly US median family income. At least ten other schools are in the $95,000 to $99,000 range, and with plenty of college graduates struggling to find a job right out of school again, it’s no wonder that the magical sparkle of university is drying up in the sun. Almost two-thirds of voters say that college isn’t worth the cost, according to a 2025 NBC News poll, which is a huge shift from previous generations’ sentiment.
Make no mistake, though: even if it’s expensive, college is still one of the clearest and most reliable paths to higher incomes and better job opportunities. Among full-time working adults, four-year college graduates earn about 60% more than high school graduates — and that wage premium has held steady for decades. College graduates are also living in poverty less and working in jobs that offer benefits more often, which makes a huge difference on quality of life.
HYCU; Just because the sticker tag for UChicago is $100,00, it doesn’t mean you have to pay the full price. Plenty of Ivy League and other elite schools offer free tuition (and sometimes free housing and additional stipends) if your family earns under a certain threshold — Duke’s is under $150,000 for in-state residents, NYU’s is under $100,000, and UChicago’s is below $250,000. Private companies also often do merit-based scholarships, like Coca-Cola and Taco Bell, and the funds are pretty significant. If you’re going to need loans, always go federal before you even look at private ones, because they often have lower rates, more forgiveness initiatives, and better protections for borrowers.
European Central Bank Summer 🌍
America may be prepping for the UFC fight at the White House for Trump’s 80th birthday, but across the pond, they’re prepping for something else: the European Central Bank has raised interest rates for the first time since 2023, in response to higher inflation caused by the war on Iran.
The ECB raised its main deposit rate from 2% to 2.25% in a move that financial markets expect to be the first of three rises by next spring. They were holding interest rates level until now, in the hopes that the US and Iran would sign a peace deal and therefore limit the need for a hike against inflationary pressure. But that hasn’t happened.
This is the first hike made by one of the world’s major central banks in response to the energy shock, and it’s coming one week before the Federal Reserve, Bank of Japan, Bank of England and several other leading institutions make their policy decisions. Right now, Trump’s new appointee Kevin Warsh is expected to hold steady, but Europe’s decision may mean that rate hikes are also on the table for us — which would raise borrowing costs for all of us, on everything from credit card loans to mortgages.
HYCU; We’ll find out next week if our rates will continue on as usual or if we’re going to get a hike, but Europe’s decision will have other impacts on us Americans. For one, if you’re planning on having a Euro summer, visiting European businesses that are getting hit with higher borrowing rates may mean that some try to pass off the cost onto the consumer. As gas prices continue to be a huge issue in Europe, which imports a lot of oil, it could also affect trade with the US, so all those sweet, sweet European products could become a little harder to find if things keep going the way they are.
Megan asks “Hi there! Could you talk about budgeting for something like a home remodel?”
Start with the big picture first… home remodeling costs have been climbing steadily, with the residential remodeling market continuing to grow. That means you’re definitely not alone in thinking about this, but it also means costs aren’t getting any cheaper!
The 20% rule is your friend when budgeting for renovations. Most financial experts suggest having at least 20% more than your estimated project cost as a buffer. So if you’re thinking a kitchen remodel might run $75,000, you’d want to budget around $90,000 total. Trust me, there’s always something unexpected behind those walls!
Financing options depend on your equity and timeline. If you’ve built up decent home equity, a HELOC (home equity line of credit) or home equity loan typically offers the lowest rates since your house secures the loan. Personal loans work too, especially for smaller projects, though rates will be higher. Cash-out refinancing is another route, but only makes sense if you can snag a better rate than your current mortgage.
Don’t forget the hidden costs that can sneak up on you: permits, temporary housing if needed, storage for your stuff, and the reality that most projects take longer than expected. I always tell people to add 10-20% to their timeline estimates too, because living in construction chaos gets expensive fast.
Pro tip: If you’re doing eco-friendly upgrades like electrical work, look into rebate programs. Some homeowners can save up to $14,000 through programs targeting energy efficiency improvements, especially if you’re in a lower-to-moderate income bracket.
Good luck with your remodel!
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SEE YOU IN THE COMMENTS BESTIES
Ms. Tu, I loved your books and enjoy your YouTube videos and the newsletter in my inbox. I want to ask you to address the risks which nobodies, like me, are forced to weather in our pensions, target date and index funds now that Elon Musk has rigged things to his advantage with the IPO rocketing him to Trillionaire land. I fear the insiders will bail and leave the rest of us holding the empty bag with no recourse. Please be thorough in your response. Helen
Regarding your comment about not taking advice from anyone other than your financial advisor - I really wish you would give recommendations again. I bought Google when you recommended we buy when rhe stock split many years ago, and the small amount I put in is now up 257%.