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The week in review
• Last week’s continuing jobless claims ticked higher. While the job market remains tight, this latest development is considered a positive sign for the stock market. It may convince the Federal Reserve to take a more dovish turn in 2023.
• Still, recessionary fears continue on Wall Street. The yield curve has been inverted for months, but the spread is widening. That means the rate on the US 2-Year Treasury is higher than the US 10-Year Treasury, which sometimes indicates a broad economic slowdown is approaching.
For more economic news, visit On the Money — SoFi’s one-stop-shop for news, trends, and tips!
Cybercrime costs will reach $10.5T by 2025…ouch!
Scammers have been around forever, and the only thing that changes from year to year, it seems, is the technology they use to pull off their scams. While many of these con artists still use the phone, the mail or even in-person tactics to try to part you from your hard-earned money, most scams these days are pulled off digitally — reaching you through your email, text messages, and fake websites.
To help folks battle these scammers, we’ve rounded up some of the biggest, most common scams hitting American consumers this year with tips to help you avoid them and a guide on how to report scams if you do become a victim.
This week’s top stories
Will housing become more affordable in 2023? Plus, how are homebuyers getting creative?
These are the types of questions that Zillow’s (
Z) 2023 Housing Prediction Report attempts to answer. Here’s the concise breakdown of what they foresee for the housing market.
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Are you aware of the $600 rule? If you have a side hustle or do freelance work, you’ll want to pay close attention before filing your 2022 income taxes.
Prior to 2022, users being paid on apps like PayPal, Venmo, or Square would only be sent a 1099-K if the payments received on any of these networks exceeded $20,000. Now, the threshold is $600.
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Studies suggest that couples who open a joint bank account are happier than couples who keep finances separate.
From a greater sense of financial security to a greater risk in the case of separation, let’s examine the pros and cons of joint bank accounts.
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Deep dives from SoFi Learn
We surveyed parents and grandparents to find out what they really want this holiday season.
Their top gift choices may surprise you and take a bit of stress off your holiday shopping.
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Running Christmas lights all the time can take a toll on your utility bill. How much of an increase you see in your electric bill can depend on a number of factors.
Learn exactly how much holiday lights can cost and how to lower the price.
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Don't let another year go by with unmet New Year’s resolutions. Here are 10 financial resolutions you can actually stick to!
If you’re focused on saving more money in 2023 and beyond, here are some resolutions you can consider adding to your list.
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