enRICHed: volume 80

biiiiiig changes to your shopping habits this week

May 26, 2024

Volume 80

Hey besties!

What’s everyone up to? How was your week? This week I was back in NYC baby! Miami may be my home but NYC has my heart. I was back in the city that never sleeps to attend and speak at the Wall Street Journal: Future of Everything Festival and the US Book show as their keynote speaker. I had quite the literary focused week. The WSJ: Future of Everything Festival was such an amazing experience. I got to speak, do a book signing and connect IRL with some of my amazing besties. Everytime I do a book signing, I am so blown away by all of the love and support. It’s been amazing to see the impact that something I made with my own two hands (not literally - I did not glue them together) has been able to make in my besties' lives. I also spoke at the US Bookshow which feels pretty crazy to say! From content creator to NYT bestselling author giving keynote addresses at publishing conferences. I’m just full of gratitude this week! None of this would have been possible without my amazing besties <3

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.

More Protections For Buy Now, Pay Later 😗

If you use buy now, pay later (BNPL) programs like Klarna, Afterpay and Affirm, you will now have the same protections as credit card users, according to new regulations from the Consumer Financial Protection Bureau.
Yes, you heard it here first —BNPL users will have the right to prompt refunds for returned items, receive regular billing statements and pause payments during investigations into disputed charges.
The regulation will come into effect in 60 days. BNPL is becoming an increasingly common payment option for many, especially millennial and Gen Zers. Half of shoppers 25 to 44 years of age use BNPL, CBS reported.
HYCU; If you’re a BNPL stan, these changes will mean far less headaches when returning items or dealing with transaction disputes. That being said, your purchases on these platforms do not factor into your credit scores, which can impact you if you’re trying to buy a house later or build up a strong financial history. Personally, I would opt for a great credit card instead and make sure to pay your balance in full on time each month. Check out some of my favorites HERE!

Another Streaming Bundle Has Entered The Chat 🛋

Comcast is now offering its customers a bundled streaming service called StreamSaver that includes Peacock Premium, Netflix Basic, and Apple TV+ for a discount price.
Peacock and Netflix will both have ads, and will be available to both TV and broadband Comcast customers. If you’re already an XFinity TV customer, StreamSaver can be purchased as an add-on for $15. The standalone bundle will usually run you $23 to $25 dollars, meaning you get a discount of $10 off.
This comes shortly after Disney and Warner Bros. Discovery announced a triple-play bundle of Max, Disney+ and Hulu, rolling out this summer in the US—though they haven’t announced pricing yet. Venu Sports—a joint venture of Disney, WBD and Fox—also announced plans for a sports-centered live-streaming bundle this autumn. Disney already offers discounted bundles with Disney+, Hulu and ESPN+.
It’s also important to note that TV writers and actors striking last summer warned us about these bundling packages, which might indicate potential industry struggles.
HYCU; A bundle of streaming services with ads? What if they all made one mega-bundle and called it something super overarching, like “cable”? That being said, if you are interested in any of these combos, you can take a look and see if they’ll save you any money. And if you’re investing in any of these companies, keep an eye on the ticker in the next few weeks to see how it may impact stock price.

Release The Gas 😱

The Department of Energy announced on Tuesday that it is releasing 42 million gallons of gas from the Northeast Gasoline Supply Reserve.
The gallons will be released between Memorial Day and the Fourth of July, aiming for the end of June, which is intentionally timed to when pump prices typically rise ahead of summer driving season.
To be so clear, Biden was required to make these gas sales from the federal budget, but it seems his administration will be focusing on gas prices as a political talking point during his reelection bid. Just something to note as we head into election season!
HYCU; While 42 million gallons seems like a lot of gas, Axios reported that it’s a pretty small amount relative to demand—supposedly, worth less than a day of consumption in targeted markets. Still, the White House said that they’re aiming to give a healthy chunk of it to the tri-state area and northeast, so if you live in this area of the US, you might just get a little reduction on your gas prices for your drive to the Fourth of July cookout.

Tar-Jay Misses You 😚💗

Target is cutting prices on 5,000 items in order to attract people who are fed up with these prices (read: me). The reductions will affect everything from food items to household products and more, starting this summer.
The appeal of Target, once a place where you could wander into the store and end up walking out with twenty items, has since become less enticing as more households focus on spending less amidst shrinkflation. The store has also long been a benchmark for consumer spending habits in the retail sector at large, and its suffering sales indicate what we already know—nobody wants to ball out these days, because we know the minute you step outside, $50 disappears from your pocket.
They’re not the only ones who are trying to court price-weary customers. Walmart, Aldi, and Ikea have also announced reductions this year, too, and more fast-food chains like McDonald’s and Sonic are rolling out new value deals on their menus.
HYCU; For all the baddies on a budget, this announcement means that your overall grocery and home essentials spending at Target will get a pretty decent trim. This is their confession to you in the rain, begging you to come back and roam their aggressively red aisles. Take a look at your budget and see if the reductions are enough for you to take them back. If you want to be the savviest shopper possible, make a list, check it twice, and don’t peruse for hours buying stuff you don’t need!

Commonly asked question: Elizabeth asks, “Is debt consolidation a good thing? I’m considering doing it.”

YES! If you have high interest rate debt (typically credit card debt) and you want to consolidate to pay less interest, you 1000% should. Consolidating your debt into a personal loan allows you to pay off high interest rate debt faster because you will most likely get a lower rate (think 1/3 to half of standard CC rates). For context, most credit cards have anywhere from 20-30% interest, while a personal loan will likely be around 7 - 10% (~15% if your credit score is less than ideal, but even 15% is better than the average credit card). You can slash your scariest and growiest debt faster with debt consolidation into a personal loan. Check out my favorite personal loan HERE!

Want to be featured in our Question Bank section?

Drop a Question Here!

EMBED: ProsperiTEA

Rich Tip of the Week: Rich people use DEATH as a tax hack!
Calling all Midwest hotties—there’s a new Amtrak connecting Chicago and the Twin Cities. The one-way tickets are $40, for all your hot girl summer activities.
OpenAI used a ChatGPT voice of Scarlett Johansson against her wishes and she’s demanding the company provide her with some answers. I mean, yeah, if someone tried to steal my recipes, I’d be mad, too.
Here’s everything you need to know about the new COVID variant, FLiRT.

SEE YOU IN THE COMMENTS BESTIES