editor's note
Happy Monday. As if I needed another reason to head to Costco.com, gold prices recently hit record highs. Some analysts say investing in precious metals is all the rage this year. See: Rising copper prices and increasing interest in silver coins. Hey, every bit of portfolio diversity counts when inflation is so high. Also, PSA for all the non-Costco members out there: Hit up the food court and enjoy their famous $1.50 hotdog and soda combo while you still can.
— Dae Cason/ Money Writer/ Columbia, SC
follow the money
How the news affects your finances.
Supercharge Your Savings
An American Express survey found that the most popular money goal among Gen Zers and millennials is to grow their savings. But inflation, job instability, and the high cost of living have made saving $$$ tough. Unfortunately, prices are probably going to stay high for a while, so you’ve got to work with what you’ve got. On the plus side, even small steps can lead to more cash in the bank.
Your move:
Open an HYSA. With some interest rates topping 5%, an HYSA is a great place to stash your cash. Even if rates fall in the next few months, your money will go farther here than in a traditional savings account. Hint: Shop around to get the best APY. Bonus points if you deposit your tax refund into your new HYSA.
Set specific goals. “Save more” is too broad. Do you want to save $500 a month? That’s a little over $100 a week, or $17-ish a day. To get there, you have to cut expenses or make more money (or a combo). For inspiration, hop on TikTok’s payday routine trend and talk $ strategy with friends.
Automate your savings. Split your direct deposit so some of your paycheck goes directly into your savings account. Or set up an automatic monthly transfer to take some money out of your checking account and move it into your savings account. Set, forget it, and make your money work for you.
for the group chat
The money stories everyone’s talking about.
Should you buy that fixer-upper?
Here’s how to decide if a home is worth renovating.
If your grocery trips are getting too pricey…
Don’t add these items to your cart.
Struggling to stack up your savings?
Some Boomer strategies still work.
For Gen Z bosses, it’s not business as usual...
Enter: “Slump hour.”
market update
The Wall Street trends to know this week.
Boeing might be making a comeback. ICYMI, the aircraft manufacturer’s stock has tumbled amid ongoing safety issues. But this morning, shares rose after a few major changes were announced. Most notably, the CEO will leave his position by the end of the year. Fingers crossed regulators will give the okay on 737s before the summer travel season.
5-minute money tip
One act of financial self-care you can do in five minutes.
Manifest your dream job.
Feeling stuck at work? Many TikTokers say manifesting, aka imagining what you want your life to look like, can help. So if you want to make moves in your career, take a few minutes to try using the now-famous 369 method, whisper method, or scripting method to start making your dream job a reality. Remember: It’s less about which method you use and more about dialing into what you really want in your career.
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