NerdWallet

Families plan to spend $130 less on back-to-school shopping this year, averaging $611, due to rising living costs. A NerdWallet report highlights budget cuts driven by higher gas and grocery prices, with 43% of parents willing to take on debt for school fitting in and 45% for extracurriculars. Experts recommend reusing supplies, comparison shopping, and leveraging tax-free weekends.

Families plan to spend $130 less on back-to-school shopping this year due to rising living costs, according to a NerdWallet report. Parents are cutting budgets amid higher gas and grocery prices, with some reusing supplies and leveraging sales to save. A quarter of parents cite financial strain, while 43% might go into debt to help children fit in at school.

Families plan to spend $130 less on back-to-school shopping this year, with average spending expected to be $611, driven by rising living costs like gas and groceries. NerdWallet personal finance expert Sara Rathner advises reusing supplies, comparison shopping, and leveraging tax-free weekends to save, while 43% of parents might go into debt to help children fit in at school.

Parents are increasingly concerned about back-to-school costs, with 37% of shoppers worried about staying on budget, up from 29% last year. Despite planning to spend $557 per child (slightly less than $570 in 2025), families are adopting strategic shopping habits to stretch budgets, including prioritizing sales, tax-free events, and secondhand purchases. Surveys indicate 57% of parents expect worsening economic conditions in six months.

Trump Accounts, also known as 530A accounts, launch on July 4, allowing parents to contribute to children's savings. Eligible children receive a $1,000 government deposit, with contributions capped at $5,000 annually per child. Withdrawals are restricted until the child turns 18, and the program is part of the One Big Beautiful Bill.

Personal finance expert Sara Rathner from NerdWallet emphasizes that paying all bills on time, including credit cards, loans, utilities, and rent, is the most effective way to improve credit scores. Late payments over 30 days can significantly lower scores, and setting up alerts or autopay is recommended to avoid missed deadlines.

Personal finance expert Sara Rathner emphasizes that paying all bills on time, including credit cards, loans, utilities, and rent, is the most effective way to improve credit scores. She recommends setting up payment alerts or autopay to avoid late fees, which can significantly lower credit scores if payments are more than 30 days overdue.

Paying bills on time is the most effective way to improve credit scores, according to personal finance expert Sara Rathner. This includes credit cards, loans, utilities, and rent. Setting up alerts or autopay can help avoid late payments, which can significantly lower credit scores if overdue by more than 30 days.

A NerdWallet study found that 75% of people with savings goals save regularly, emphasizing that small, automated savings efforts like $10 weekly or $100 monthly can build momentum. Kate Ashford, NerdWallet's Lead Wealth Writer, highlighted that tracking savings through apps or periodic checks helps maintain progress, and even small amounts can accumulate over time.

A NerdWallet study found that 75% of people with savings goals save regularly, emphasizing that small, manageable goals like $10 weekly or $100 monthly can build momentum. The study highlights automation, rounding up purchases via apps, and tracking savings periodically as effective strategies to maintain progress and confidence in budgeting.

A NerdWallet study found that 75% of people with savings goals save regularly, emphasizing that small goals like $10 weekly or $100 monthly can build momentum. The study highlights automation, apps for rounding up purchases, and periodic tracking as effective strategies to simplify and sustain savings.

Homeowners should review their insurance policies to account for risks like grill fires, theft, pool injuries, and storm damage. Experts advise checking coverage limits against inflation and rebuilding costs, and ensuring sufficient personal liability coverage.

Homeowners should review their insurance policies to account for risks like grill fires, theft, pool injuries, and storm damage. Kaz Weida of NerdWallet emphasizes checking coverage limits, rebuilding costs, and liability to ensure adequate protection.

Homeowners should review their insurance policies to account for risks like grill fires, pool injuries, and storm damage. Kaz Weida of NerdWallet emphasizes checking coverage limits, rebuilding costs, and liability to ensure adequate protection.

In May, three sectors—information, utilities, and construction—experienced wage growth exceeding inflation, while other sectors like healthcare and education saw job growth but stagnant wages. Inflation rose to 4.2%, outpacing overall private-sector wage growth at 3.4%, with employment declines in the information sector and labor shortages in utilities and construction driving wage increases.

Americans are spending faster than their income is growing, with the personal saving rate falling to 2.6% in April, its lowest since mid-2022. Rising energy costs from the Iran war and stagnant incomes are driving households to draw down savings, raising concerns about a potential pullback in consumer spending and economic growth.

The US labor market is stabilizing after a year of whiplash, with employers adding 115,000 jobs in April and the unemployment rate holding steady between 4.3% and 4.5% for 10 straight months. The labor market is showing signs of stability despite headwinds, including an energy shock from the Iran war. However, warning signs in the underlying data suggest a more fragile environment.

The U.S. job market has shown volatile swings between job gains and losses, with March adding 178,000 jobs after a February decline. Factors like the Iran war, AI adoption, and immigration policies are influencing labor market dynamics, while the unemployment rate remains stable between 4.2% and 4.5%.