🎢 It’s now easier to get cheaper Disney tickets

Saturday,
January 14, 2023

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The week in review

• 2023 has opened on a more optimistic note in comparison to the end of December, but uncertainty abounds. Fed Chair Jerome Powell said earlier in the week that the central bank is committed to enacting more rate hikes, even if they prove politically unpopular.

• The December CPI showed prices fell 0.1% from November. While prices are still up 6.5% on an annual basis, this encouraging data point suggests inflation is cooling. It follows November’s inflation print, which showed prices rising just 0.1% month-over-month.

• With this CPI update, investors expressed confidence the worst of inflation is in the rearview. Despite Powell’s comments earlier in the week, traders are now betting that the Federal Reserve will adopt a less aggressive mindset regarding its rate hikes in 2023, given inflation appears to have slowed.

For more economic news, visit On the Money — SoFi’s one-stop-shop for news, trends, and tips!

3 Financial Resolutions Most People Break—and How to Reframe Them to Keep Them

Resolution #1: Saving Money

Suggested Reframe: Save money for something specific—and make it a priority.

Specificity helps. Decide what you want to save money for most, then write it into your monthly money plan.

Resolution #2: Spending Less

Suggested Reframe: Spend less in specific categories or create a shopping ban.

Instead of resolving to spend less in general (too vague!), choose one or two categories to focus on. Maybe you can officially break up with grocery delivery or ban sneaker shopping for 90 days. Manage your budget and categorize your spending using SoFi’s Insights tool in the SoFi app—starting right now.

Resolution #3: Paying Off Your Credit Cards

Suggested Reframe: Consolidate your credit card debt.

Credit card consolidation is a form of refinancing that involves paying off your existing credit accounts with a new loan or line of credit. It can be smart because you no longer need to keep up with different bills at different times of the month and you can unify all debt to the account with the lowest possible interest rate. Learn more about the first step in this process—balance transferring—here. This first step toward credit card debt freedom is a more manageable bite than paying off the debt in total, which will take time and perseverance!

This week’s top stories

Planning a Disney (DIS) vacation? Recent changes at Disney parks could make your trip a little more magical – or at least cost a little less money.
After a difficult year, Disney is offering perks like cheaper tickets, free photos, and free parking to lure jaded fans back to its parks. Read on to learn the full extent of these benefits.
Read more >>

Amid marketing campaigns and the growing sale of non-alcoholic beer, booze companies are embracing the Dry January trend.
You would think the concept of Dry January would clash with the alcohol business. But alcohol sales have declined since reaching their height during COVID lockdowns, and brands are adapting. According to Tito’s and Martha Stewart, vodka mixes well with flower gardens.
Read more >>

After being taken private three years ago, Barnes & Noble is starting a new chapter.
Despite the global pandemic and recession, the major bookstore has plans to open 30 new locations in 2023 — including in storefronts formerly owned by Amazon (AMZN).
Read more >>

Deep dives from SoFi Learn

Your 401(k) is getting an upgrade.
Thanks to President Biden and the Secure 2.0 Act of 2022, retirement savings accounts will experience some major changes in the coming years, improving retirement security for all.
Read more >>

For all you extroverts out there, we’ve rounded up dozens of well-paying jobs that would be lucky to have you on board.
The best jobs for extroverts range from business leaders to sales to performers. Find out more about median salary, education requirements, and job growth.
Read more >>

The check engine light came on in a big part of the US economy last Friday. In this week’s column, SoFi’s Head of Investment Strategy discusses the pros and cons of where we’re at.
Services inflation coming down may benefit consumers in certain areas, but hurt the business providing said services as revenue falls.
Read more >>

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Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

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