| |  | | May 28, 2025 | | | | | | | | Do You Know What You're Spending on Subscriptions? | By Keith Wagstaff
In the digital age, convenience often comes with a price.
Like automatic recurring charges. It's great not having to keep track of monthly bills once you connect a business with your credit card or bank account, but some of us may be paying for subscriptions or memberships that we haven't used in weeks, months or even years.
It might be a meditation app, a membership for discounted car rides, or the five streaming services that offered you a free trial during the pandemic.
In fact, Americans estimate that on average, over $200 — 18% of the $1,080 that they spends on subscriptions each year — goes to ones they don't use, according to a recent CNET survey. Among younger adults belonging to Gen Z, that figure is even higher — $276. | | | | | | | | | Dear SoFi, I'm 19 [and] thinking about applying for a credit card. I've never had a credit card before and want to make sure I don't mess anything up, does anyone have any advice?
(Submitted by Cole, a member of SoFi's Ambition Club Facebook group) | | Dear Cole,
You're on the right track already. Just asking this question shows you're being thoughtful about this important stage in your financial life.
Credit cards can be a fast track to debt problems if you're not careful. Americans 18 to 29 fall behind on their payments more than any other age group, with over 10% of their collective credit card debt slipping into serious delinquency in the first quarter of this year, according to the New York Federal Reserve's Center for Microeconomic Data.
But credit cards can also act as a sail, propelling you into financial independence by helping you establish your credit history.
Building a long and strong credit track record can positively impact your credit score, which could improve your chances of being able to borrow money — and at lower interest rates — down the road. And loans can be key when it comes time to buy things like a house or car.
Here's a quick guide on how to approach your first credit card.
Read more | | | | | | | | | 80% | That's how many people chose to stay the course with their retirement investments when the stock market dropped sharply in early April, a new survey commissioned by BlackRock shows.
The survey of 1,000 registered voters with retirement savings showed 80% did nothing different with their retirement investments and 10% invested more money.
Although it can be hard to stay in the stock market during a steep sell-off, when you're investing for long-term goals like retirement, making sudden changes based on short-term movements can be perilous. A solid financial strategy is based on personal goals and time horizon — not day-to-day swings.
Here's more on playing the long game and how to gauge what's happened in the market since the sell-off. | | | | | |  | | Klarna's latest financial results show more shoppers are struggling to repay Buy Now Pay Later loans. (NBC News) | | | | | | | | | | | 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? | | | | |
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