Top Story
Inflation eased in June. So now what?
Consumer prices fell between May and June. Does that mean the deflation era has arrived after years of high prices? It might not be quite so simple.
US stocks took a breather from their record highs Thursday
• Big tech names led the declines.
• The U.S. 10-year yield tumbled below 4.2% following the June inflation report, and expectations for an interest rate cut rose.
What to be on the lookout for today
• Wholesale inflation for June, along with the University of Michigan’s consumer sentiment survey.
• In earnings, the second quarter earnings season will kick off in earnest with Citigroup, JPMorgan, and Wells Fargo.
How to split the dinner bill without drama
It’s the end of a big group dinner and the bill makes an awkward entrance. The whole group looks at each other? Do you split it evenly? Should each person cover what they ordered? It doesn’t have to be uncomfortable.
Here are some suggestions on how to handle the dinner tab.
Math for dessert
There’s an app for that. Certain apps can help you track who owes what to whom, which can be particularly useful if your group is very large and has multiple shared expenses.
One person covers it. One person may pay the whole bill, and everyone else reimburses them. The potential upside for the person paying upfront could be credit card benefits like rewards points or cash back from their credit card. Etiquette also suggests splitting the tax and gratuity evenly among the group.
Each on their own. You may opt to split the bill between different credit cards. Each person determines what they owe and requests the restaurant charge that amount to their card. Everyone decides their own tip in this scenario.
Today’s top stories
Are you FOMO spending?A whopping 40% of Millennials and Gen Z feel financially squeezed because of excessive spending on things they don’t need. Here’s what we know.
Read more >> Fewer Americans are earning low wagesThis is undoubtedly a win for workers. But the details continue to show an unequal pay landscape.
Read more >> How to avoid buyer’s remorseEver bought anything that brought you regret instead of joy? That’s buyer’s remorse. And in a world where everything seems to be getting more expensive, it’s the last thing you want.
Read more >>Other news that caught our eye
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Amazon announced dozens of discounts ahead of its Prime Day event next week.
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Costco will increase its membership fee for the first time since 2017, with its basic plans set to increase by $5 to $65 per year, while premium plans will increase by $10 to $130 per year.
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The IRS has collected $1 billion in back taxes from millionaires with more than $250,000 in recognized tax debt.
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Elon Musk won his lawsuit against thousands of former Twitter employees who claimed Musk refused to pay at least $500 million in severance.
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Pfizer is working on a once-daily weight-loss pill. The medication will progress to a mid-stage study later this year.
Financial planner tip of the day
“A diverse mix of credit products can have a positive impact on a person’s credit. Opening at least one credit card is a good step for most borrowers. There are a wide variety of cards aimed at people with different interests, spending habits, and credit history. Although a mix of credit helps a person’s standing as a borrower, it’s not a good idea to open a line of credit that’s not needed just to have a mix of credit types.”
Brian Walsh, CFP® at SoFi