Head economic uncertainty off at the pass
| |  | | May 21, 2025 | | | | | | | | Create an Emergency Financial Plan To Ease Recession Stress | By Lindsay VanSomeren
What's your runway?
That is, how long could you cover your expenses if you lost your job or faced some other hardship?
Sobering questions like these are on all of our minds as uncertainty about the economy consumes much of the country. Last month concerns about tariff policies and a potential recession turned Americans' expectations about future income prospects negative for the first time in five years, according to The Conference Board's Consumer Confidence survey.
If you have enough saved to cover three to six months worth of living expenses — as experts recommend — you're already ahead of the game, since many people don't.
But figuring out how to stretch those limited dollars over an unemployment gap of unknown length can still be stressful. You can take control of your finances — and be better prepared — by planning out exactly what steps you would take if you're laid off. Here's how to start. | | | | | | | | | | How to Navigate Financial Advice in the Digital Age | | | By Lynnley Browning
Before the Internet, recommendations for investing and managing your money were the exclusive purview of bow-tied stockbrokers, high-brow wealth managers and credentialed financial planners. The only free advice came from family members or friends who might occasionally share a hot (and potentially dubious) stock tip.
Now, there are so many options — many of which are free or low-cost — that it's hard to know how to choose or which ones to trust. | | | | | | | | | "The toughest part may be getting started and staying motivated. Just remember, you walk 10 miles by walking 10 feet at a time."
— Brian Walsh, SoFi's Head of Advice & Planning
| Setting aside money can be challenging when you have competing financial priorities, but the right mindset can give you the momentum you need to save for unexpected expenses, said Walsh, a Certified Financial Planner®.
Two other tips to help you grow your financial cushion: Set a spending limit with a free budget app like SoFi's Relay (your money doesn't have to be with SoFi to use it) and leverage a high-yield savings account to give your money a boost. (Earn up to 3.8% APY with SoFi.) | | | | | |  | | Looking for ways to stay ahead of tariffs? Here are 50 ways to save. (Money As If) | | | | | | | | | | | Intel, insights, and inspo for your money. | | On the Money cuts through the noise of day‑to‑day financial news to bring you a more thoughtful point of view on what's important in this moment — and how it impacts your bottom line. We value your trust above all. | | | | | | | | | | Did you find today's newsletter valuable? | | | | |
| | | | INVESTMENTS ARE NOT FDIC INSURED ‑ ARE NOT BANK GUARANTEED ‑ MAY LOSE VALUE | | SoFi Checking and Savings accounts are offered by SoFi Bank, N.A., Member FDIC. SoFi Credit Cards are issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated.
Loans originated by SoFi Bank, N.A., NMLS #696891 (www.nmlsconsumeraccess.org). Equal Housing Lender.
Brokerage products offered through SoFi Securities LLC, member FINRA/SIPC.
Advisory services are offered through SoFi Wealth LLC, an SEC-registered investment adviser. Information as of May 2025 and is subject to change. Screen images simulated.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more.
Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn't be construed as an endorsement.
The information provided is general in nature and shouldn't be construed as a recommendation or solicitation of any products offered by SoFi's afliates and subsidiaries. Addtionally, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset.
SoFi Technologies, Inc. values your privacy and the security of your personal information so please do not include sensitive personal information, such as your Social Security number, in any email or letter that you send to us.
SoFi Technologies, Inc. 234 1st St., San Francisco, CA 94105
Unsubscribe | Privacy Policy | Licenses
© 2025 SoFi Technologies, Inc. All rights reserved.
w: 20250521 | | | |
No comments: