Credit Karma

Doomspending, a term for frivolous spending without concern for future financial consequences, is rising among young westerners. A 2024 Credit Karma survey found 27% of Americans, 37% of Gen Z, and 39% of millennials engage in it to cope with economic and global anxiety.

Intuit laid off 3,000 employees (17% of workforce) and is considering closing some offices to streamline operations and reduce management layers. CEO Sasan Goodarzi stated the cuts were not AI-related but aimed at eliminating inefficiencies and accelerating decision-making. The company expects $340 million in restructuring charges and plans to use savings for margin expansion and shareholder buybacks.

Credit Karma has launched a new site for Americans with no credit history, providing them with access to financial services. The move aims to expand financial inclusion and help individuals establish their credit profiles. This initiative is expected to benefit millions of Americans who lack a credit history.