| |  | | July 7, 2025 | | | | | | | | Cheaper is Cooler: Cutting Back Is Trending | By Rebecca Moretti
Saving money is a hot theme in pop culture right now. While it's not Labubu or "Squid Game" S3, the shift to thrift is trending as Americans flaunt how little they can spend. From viral challenges like "no buy/low buy" to the rise of "deinfluencing," revenge-spending is out and revenge-saving is in. Here's more on how to join the cost-cutting club.
| | | | | | | | GET FIT: A 3-PART CHALLENGE | | | | Part 1 — The Warm Up: Track Your Spending | | | Ready to buff up your finances? Today, Wednesday and Friday, On The Money will feature an "exercise" designed to kickstart your financial fitness. By the end of the week, we want you to have a fresh perspective, a rock-solid budget strategy, and the financial footing you need to achieve your goals.
Today's exercise: Get a clear picture of your spending.
- Connect your credit card and bank accounts to a free budgeting app, like SoFi Relay, or review your last statement for each account.
- Review the total you spend in each category identified in the app. If you're not using an app, identify your own categories and then do the math. (A ballpark is good enough.)
- Make two columns on a laptop or piece of paper — one for the totals you're happy with, and the other for the ones you know could be lower.
Were you surprised by what you found? Getting a reality check on your spending is a great start.
Check back Wednesday for Part 2 of the challenge!
| | | | | | | "We feel rich drinking their free coffee and enjoying this bougie furniture we can't afford."
— Himanshu Wagh, a 25-year-old psychiatry resident who frequents fancy furniture stores for a free place to hang out. | Wagh's choice of activity exemplifies a marked shift in many young people's spending habits. As Gen Z grows increasingly concerned about finding and keeping a job, restraint has become king.
Instead of buying anything, Wagh and his friends might play "guess the price" of whatever piece of furniture they are sitting on, or daydream out loud, he recently told The Wall Street Journal.
"We sit on the sofas and when the conversation gets boring, we move to a different sofa," he said. | | | | | | | | | Informed investment decisions start with informed investors. Here's what's making headlines:
| | | | | | WEEK AHEAD ON WALL STREET | | | | Trade Countdown | | | By Mario Ismailanji
An uneasy calm has settled over markets, but the quiet is unlikely to last. With the Independence Day holiday in the rearview mirror, attention now turns to potential fireworks elsewhere.
The main event is Wednesday, the date a 90-day pause on a slate of broad, reciprocal tariffs is set to expire. Back in April, the Trump administration temporarily reduced these country-specific duties to a 10% baseline to allow time for new bilateral trade agreements to be negotiated.
Since then, the president has signaled little appetite for extending the delay, suggesting the looming deadline will stick for any countries that haven't reached a deal.
Now, investors have so far been largely sanguine about all this — stocks are near record highs, after all — but a return to a high-tariff environment could have major ripple effects, even if not quite as severe as initially feared in April.
Federal Reserve officials have said they expect tariffs to raise prices this summer, though the degree to which they could reignite inflation remains to be seen. How things play out will be crucial in setting the market's tone for the rest of the summer.
| | | | | | | |  | | Do you have a big inheritance coming your way? In some cases, you may want to say thanks, but no thanks. (USA Today) | | | | | | | | | | | Between student loan payments and a challenging job market, new college graduates have a lot to deal with. (CBS News) | | | | | | | | |  | | For people living with ADHD, traditional financial advice like "just follow a budget" may not work, leaving them feeling overwhelmed and frustrated. (So Money with Farnoosh Torabi) | | | | | | | | | | | 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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