Plus: Should you pay down debt or save?
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| May 13, 2026 |
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| Which Comes First: Saving or Paying Down Credit Card Debt? |
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By Kelly Meehan Brown
You barely have any money saved for emergencies, but watching the interest compound on your credit card balance feels like throwing money into a fire. So which is the better way to use your extra cash? Here’s what SoFi’s head of financial planning recommends. |
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| Your SoFi Toolkit |
| Should you consider consolidating your high-interest credit card debt? Plug your numbers into this SoFi calculator. |
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| The Sleeping Giant of Retirement Savings |
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By Lora Shinn
Most people know what a 401(k) is. It’s a symbol of good workplace benefits and one of the few things that makes a paycheck deduction feel worth it.
An individual retirement account (IRA,) on the other hand, is less visible. It’s not linked to your job, you have to set it up on your own, and there’s no chance for an employer to match your contributions.
So how is it that IRAs hold the single largest pile of retirement savings in the U.S.?
Because people change jobs. And when people leave a job where they have a 401(k), they often roll their funds into an IRA to either consolidate their assets or expand their investment options. |
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| Your SoFi Toolkit |
| If you’re considering an IRA but aren’t sure which type would work best for you, take our quiz. |
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| It Only Takes 10 Seconds to Waste Money |
Did you know that letting your car idle for any more than 10 seconds uses more fuel than stopping and restarting your engine?
With gas prices higher than they’ve been since 2022, many of us are looking to stretch every gallon. For more surprising fuel efficiency facts, read Gas Prices Are Surging Again. Here’s How to Fight Back. |
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Informed investment decisions start with informed investors. Here's what's making headlines:
📦 Escalating a speed delivery race with Walmart (WMT), Target (TGT), and popular delivery apps like Instacart (CART), Amazon (AMZN) said it will expand its new 30-minute delivery service across dozens of U.S. cities. The commerce giant already has one-hour and three-hour delivery options. (Axios)
🗠 Demand for shares of AI chipmaker Cerebras Systems have surged in what’s shaping up to be the biggest U.S. IPO so far this year. The company’s listing, which drew orders for more than 20 times the number of shares available, is expected to price today. (Bloomberg via Yahoo Finance)
🏦 A group of banks led by JPMorgan Chase (JPM) cut their credit line and raised interest rates on FS KKR Capital (FSK), one of the most visible fault lines in the private credit market. Shortly after, the fund’s co-manager, KKR (KKR), said it would inject $300 million to prop up the fund. (CNBC) |
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| The only thing harder than getting into college is getting off the wait list. (The Wall Street Journal) |
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| 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. |
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| Did you find today’s newsletter valuable? |
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| INVESTMENTS AND DIGITAL ASSETS ARE NOT FDIC INSURED ‑ ARE NOT BANK GUARANTEED ‑ MAY LOSE VALUE |
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