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IN THIS ISSUE: Cheaper gas, a goal-reaching tip, and plugging money leaks |
THE HEADLINES
Search engineWhat’s happening: Nearly 30% of US workers searched for a new job in July—the highest in over a decade, according to the Federal Reserve Bank of New York’s July Survey of Consumer Expectations.2
Here’s why: The NY Fed says workers are chasing better pay, perks, and promotions. These are factors employees are less happy with now than they were during peak Great Resignation, when waves of workers hit the reset button on their careers.
What it means for you: Participants in the NY Fed survey believe their chances of getting hired will rise over the next 4 months, beating already-solid prospects. Around 19% of workers said they received at least 1 offer in the past 4 months, a similar rate to July 2023.3 Help set yourself up for success with 11 tips for writing a resume (and
15 for writing a cover letter), plus how to negotiate a higher salary after you get that offer. |
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Higher medWhat’s happening: Employer-sponsored health care coverage costs are projected to surge 9% in 2025 to more than $16,000 per employee, according to a new study by professional services company Aon. That’s more than the 6% price spike employers saw from 2023 to 2024.4
Here’s why: Medication costs (particularly pricey GLP-1 drugs, which more employer-based insurance plans are covering for both diabetes and weight loss this year), new gene and cell therapies, and more workers with chronic conditions are driving this increase in coverage cost, according to the Aon report. Medical claims are up too—possibly because more people are returning to hospitals and doctors’ offices after a pandemic lull, according to Peterson-KFF data.5 |
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What it means for you: You might need to cough up more for health insurance next year. While some employers may cover the increases, nearly half say they're likely or very likely to pass costs to employees.6 Open enrollment typically starts in October or November, but you can start preparing now. Here are
4 steps to help you choose health insurance that makes sense for you and your budget. |
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Fuel’s paradiseWhat’s happening: Gas prices are down nearly 50 cents per gallon for regular gas from a year ago, according to AAA.7
Here’s why: Many factors, including softening demand for oil abroad and a quiet hurricane season in the US.
What it means for you: You might see a little savings next time you fill up. And prices could keep dropping if conditions stay the same. Another way to save on gas: Stay under the speed limit. Every 5 mph over 50 mph is like paying an extra 24 cents per gallon.8
Psst … In the market for a car? Prices have been dipping on both used and new, and incentives like cash rebates and lower loan rates were up nearly 60% in July from last summer, according to estimates from Kelley Blue Book.9 Before you hit the car lot, figure out how much you can afford. |
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LOOKING TO SAVE ON BIG-TICKET ITEMS LIKE … |
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EASY WIN
Set a dateWant to build up emergency savings, put money aside for a vacation, or make another big money move? Breaking up lofty goals into small pieces (say, adding $50 a month to a dedicated account) could make them easier to achieve. One way to help you stay on track: Consider adding a monthly money check-in date to your calendar, like you would for dinner with friends or a doctor’s appointment. When the time comes, use it to review your progress, celebrate your wins, and make adjustments (like if you can up your contributions to $75 a month—or you need to take it down to $30). Regular check-ins could help keep you motivated and your goals top of mind. |
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Wondering whether to save, pay debts, or invest first? This step-by-step guide could help you decide.
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HOW TO
Plug money leaksSneaky fees and financial waste could be draining your budget. These 23 ideas could seal things up and leave you with more cash. |
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MONEY TREND
Returnless refundsWhat it is: Some retailers are refunding customers without requiring them to return unwanted products.
Why it’s trending: An online behemoth launched a program that allows its sellers to save on the costs of handling returned merch (think: shipping, storage, labor)—and allows its customers to cut the hassle. Another big business is doing the same for certain purchases. Their possible motivation: Some retailers’ earnings reports showed spending pullback. Returns leniency could lure customers. |
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Good to know: Not all retailers are playing for keeps. Some are making returns tougher by enforcing stricter policies or charging fees for sending stuff back. So check specific return policies before you buy. It might also pay to shop in person—seeing things IRL could cut down on returns.
Prefer to shop from your couch? Another service just launched that provides instant refunds for online purchases from certain retailers, but you still have to return the item within a week.
Try these 10 tips to spend less on online shopping. |
