On today’s episode of Wealth!, Alexandra Canal breaks down key stories impacting your personal finances, from student loan forgiveness to inflation’s impact on pet insurance.
US Vice President Kamala Harris has begun her campaign to be the Democratic nominee for the 2024 presidential election after President Biden exited the race. Many questions surround her policies and how she may frame her campaign, but one of the biggest is who she will choose as a running mate,. Yahoo Finance Senior Columnist Rick Newman breaks it down. Many voters are also questioning the future of student loan forgiveness Jennifer Finetti, ScholarshipOwl’s Director of Student Advocacy, is cautious about assuming Harris will adopt the exact same approach to relief as the Biden Administration.
Over $38 trillion will be transferred from older generations to millennials and Gen Z, according to data from NOYACK and Cerulli Associates. NOYACK Wealth Club founder CJ Follini discusses what to focus on when receiving an inheritance, explaining, “So first thing is, what is your why? Why are you doing these things? Do you have life goals, do you have goals of planning for a retirement? Do you have a family that you want to provide for their future wealth and their future generally? Are you just thinking about the numbers of portfolio wealth building? Well, that’s diversification, which for me is the beginning of every single discussion when it comes to personal wealth management.”
Multiple fast-food chains have rolled out value meals and value items to their menus as incentives to get customers back into their restaurants, including McDonald’s (MCD), which is extending the stay of its $5 meal deal. Yahoo Finance senior reporter Brooke DiPalma joins Wealth! to discuss how fast-food companies are utilizing value meal strategies and whether or not they are truly helping, or possibly hurting, their bottom lines.
As of 2024, 66% of US households, or 86.9 million homes, own a pet, with almost 45% of those pets being dogs, according to data from American Veterinary Medical Association. Yet, according to the North American Pet Insurance Association, only 2.8% of them have health insurance. Spot Pet Insurance CEO Trey Ferro explains why inflation hasn’t hurt the business of pet insurance: “People are understanding that pets are expensive. Vet health care has increased in price higher than the national inflation rate. There’s not that many vets coming out of veterinary school anymore. People are very cautious of these vet care needs and they’re expecting more from their vets. People are now expecting child-like care for their family members.”
Welcome to Wealth and Alexander Canal in Fort Smith and this is Yahoo Finances guide to building your financial footprint.
Our community of experts will give you the resources, tools, tips and tricks you need to know to grow your money.
On today’s show, President Biden is endorsing Vice President Kamala Harris as the democratic nominee for president.
We’ll talk about a possible Trump Paris face off and how each candidate will try to garner the support of young voters who are increasingly concerned with the state of the economy and the cost of housing plus trillions of dollars are set to change hands between baby boomers and the younger generations.
Over the next 20 years, we talk to an expert about the best strategies to manage and grow your money if you’re set to inherit plus paying for college.
A recent survey shows 90% of the students don’t yet have the funds to pay for college in the coming school year will take into the results and tell you how you can successfully secure funding for your education.
Our top story today, President Biden endorsing Vice President Harris after stepping out of the 2024 race on Sunday, a Harvard study shows more than half of young Americans plan to vote in November.
So with the new potential Democratic candidate, how does that change the calculus?
How young adults might vote here with more is Le M Mini off director of the Marist College Institute for public opinion, Lee, thank you so much for being here.
So to start here, what are some of the top issues for young voters and how important will that group be when it comes to the outcome of this election?
Sure, look, the young voters are concerned about not all dissimilar from older but a big strong emphasis on uh the economy and inflation.
Uh you know, the ability to get their own lives started uh both in terms of career and therefore, in terms of economics.
Um so it’s not totally distinct from the rest of the population, but the emphasis is certainly on, you know, economic futures where the economy is going and inflation and other issues and unemployment interest rates, those obviously are front and center for a lot of young people.
And Lee, how do you think voters will respond to a potential Kamala Harris run considering Biden really struggled with that cohort of voters leading up to his withdrawal.
Look, there’s no doubt that uh the Harris run is an opportunity for the Democratic Party to reset.
And part of that means a new look at the party uh by younger voters.
Uh And uh the the Democrats are having a lot of problems.
This is a group that has traditionally been a low turnout, but a high democratic group.
Uh and now it was going to be a much more mixed voting choice between the Democrats and Republicans.
A lot of that having to do about the perceived old age of uh of Joe Biden.
And obviously that issue is no longer on the table.
So I think it is, as I say, a reset for the Democrats uh in terms of, of this group of voters, you know, in a close election, the answer to the question, what group matters as they all matter and clearly uh the turnout and the selection by younger people is front and center to one of the key key elements as to who’s ultimately going to be successful.
Democrats sitting in a lot better position today than they were yesterday morning, but we’re still only three months until the election.
So at this point, how can Kamala better position herself compared to Biden when it comes to attracting those younger voters?
Are there certain issues or policies that she should potentially press on more?
And I think, you know, I think the economy obviously as we’ve talked about, but I think it’s also the enthusiasm, the energy, the uh younger generation appeal uh is a lot different than someone who’s in their eighties.
And I think that Joe Biden uh regardless of his attempt on student loan debt and things like that just wasn’t connecting.
Uh, it was not the kind of, uh optics that was working.
Uh, and, uh, you know, right now the Democrats have a lot of new things to do.
They have a ticket, they can form and shape, which can have younger appeal.
They have a convention coming up in a sense it’s all done for the Republicans in terms of their ticket and the candidates.
And now Donald Trump is the senior statesman of the, of the uh campaign.
And what we’ve seen interestingly is when the Democrats have been successful.
If you look back at uh the Clinton years when he ran against Bush Clinton was younger.
Obama was younger than both mccain and Mitt Romney when he was running, uh Democrats tend to do better when their candidate at the top of the ticket is younger and right now that’s where they are.
Um So this is gonna be an interesting dynamic to watch uh both in terms of the turnout.
Can they generate what has been traditionally a low propensity, voter, young people?
And can the Democrats get back on top in, in, in terms of the appeal of their candidates?
And Kamala Harris certainly can provide some new enthusiasm for the Democratic ticket that was really lagging.
Uh As long as Joe Biden was at the head of the ticket.
So age issue now has been reversed to some degree and the older candidate is now Donald Trump And, and to that point, Lee, how do the youth voters view Trump at this point considering that?
Well, it was, it was a mixed bag.
I mean, there, there was more appeal and I think that was being driven by the lack of appeal that Joe Biden had.
So I think this is something to watch for in the next series of polls.
Uh Was it just Joe Biden’s age that was moving some Democrats, uh some younger voters, I should say in the direction of uh of Donald Trump.
Uh because he was more vigorous, not much younger but more vigorous in, in, in, in his campaign style.
Um Right now, I think that’s an open question and I think that’s what we’re going to have to see in the next couple of weeks.
What’s different now is the Democrats have a chance to recapture that group whereas it was drifting away in abiding candidacy, Lee Meing off director of the Marist College Institute for public opinion.
Well, if Vice President Kamala Harris does secure the democratic presidential nomination, this wouldn’t be her first campaign to discuss what a Harris campaign this time around might look like Yahoo Finance’s own.
Rick Newman joins us here and Rick, it is interesting to me because we saw her not be so successful the last time around.
So what could she take from her years at the White House to really help us to turbo to turbocharge her campaign.
So the last time around was 2020.
I’m not sure how many people remember she did run for president back then.
She didn’t get very far.
Um, she uh flamed out fairly early in the democratic primaries.
Um The main thing to know about that campaign is that she was more liberal than Biden at the time.
Just a couple of examples.
she backed Medicare for all the big Bernie Sanders health Care plan and she also backed what was known as the Green New Deal, which would have been kind of a sweeping government takeover of the energy and trans sectors.
However, she does not have a super liberal liberal reputation going back to her days as the attorney general in California and then as a senator from California, I think what she was doing in 2020 what normally happens in, in primaries in both parties is to win the primary to win the nomination.
You have to be a little more extreme to either the left or the right um than you would generally be in a general election.
So she has not run for president in a general election.
And the way you win in a general election is appealing to moderate swing state voters, that’s who, that’s who she needs to get on board in order to win.
Um So I if the logical thing is to expect her not to be a clone of herself in 2020.
In fact, to drop Medicare for all to drop the Green New Deal.
Um She has to re reassure voters that she’s gonna be tough on crime.
She goes back to her days as a uh California attorney general.
She was considered tough on crime and she’s got to fix uh the democrats problem with immigration, which is basically their worst issue.
Got it.
So swing states are crucial here given that there have been some whispers about a potential vice presidential pick.
What are the names that stand out to you?
They’re more like shouts at this point than rather than whispers.
Um There are a bunch of names floating around.
I think you can do process of elimination and get it down to a shortlist pretty fast.
So, um Kamala Harris is a black woman at the top of the ticket.
I think that means you’re gonna have a man as the uh as the, as the vice presidential nominee.
So that would rule out Gretchen Whitmer.
I think you want somebody who has a poten who has potential to pick up a crucial swing state.
Um And there are people associated with three swing states that fit that check that box.
It’s um, Roy Cooper, who’s the governor of North Carolina, Josh Pirro, governor of Pennsylvania, which is a must win state for Democrats and then Mark Kelly in uh Arizona, he’s a senator from Arizona.
Now, Mark Kelly has something that two governors don’t have.
He’s has a little bit more foreign policy experience.
He’s on the Senate Armed Service Committee and as somebody from a swing state, um, he might have more credibility on immigration than, um, either Shapiro from Pennsylvania or Cooper from North Carolina.
So, on paper, I think.
But Mark Kelly, I think is, is, uh, looks like the favorite.
Um, also he’s an astronaut, I mean, you know, Americans lionize astronauts.
Um So don’t rule out a surprise, but uh we have, we’re gonna have to know who this is soon and then it’s reasonable to think that whoever the vice presidential nominee is, there will be a debate with JD Vance who is Donald Trump’s pick and to your point, Rick, I mean, there already has been a lot of surprises so far this election season, more than most most people wish, but there could be more coming.
Exactly.
And you’ve been busy and I’m sure you’re gonna continue to be busy leading up to the election.
Thank you so much for joining us.
Traders are keeping an eye on the US election after President Biden announced he would not run for a second term and endorse Vice President Kamala Harris here to discuss the impact of what the election results could be for markets.
But when you look ahead, how should investors be positioning themselves ahead of November, no matter who ends up in the old office?
Yeah, I think it’s been an interesting cycle already so far.
Um with lots of twists and turns and so many are very inclined to want to trade each one of these twists and turns and position their portfolio accordingly.
Um You know, I just would add that we have to be pretty humble forecasting.
We still have 3.5 months to go um without yet solidified uh one party’s ticket in terms of president and vice president.
Although obviously, we all have heard a lot that makes it quite clear what’s likely.
Um You know, and that said clearly last week, for example, when the probability of a Republican sweep was higher, we saw um you know, not equities were rising.
Um the yield curve, uh you know, has a lot of discussion around um if uh due to immigration policy, tariff policy on the Republican side, if we could see a higher interest rate curve as well as a steeper interest rate curve.
So there’s certainly a lot of uh possibilities here.
But I think very importantly from our end, you know, at Pimco, we want to build portfolios that are robust across a variety of scenarios and not just um you know, gonna perform across a single outcome.
So we’re really trying to look across markets and make sure we’re in a good position and you were just alluding to some elements of that Trump trade, which has fueled this rotation out of Big Tech.
How do you think the Biden news will impact what we’ve seen from that trade so far?
Yeah.
So I think the Biden news really just um brings down the probability of a Republican sweep on the margin.
Um but in terms of harris’ policies versus Biden’s policies, we don’t expect a major shift um from that perspective.
So really, it’s just a question of, you know, again, with 3.5 months to go.
Um and the many twists and turns we’ve seen so far kind of how that plays out over time.
Um And um as a result, uh you know, as mentioned, you know, what we are looking for resilience in our portfolios so that downside protection from say, secured bonds, um securitized credit uh agency mortgages, but yet with the upside capture, um you know, should our base case materialize.
And I mentioned that big tech rotation and with that, we’ve seen this out performance of small caps.
Are you bullish on small caps in the long run throughout the rest of 2024?
Or are there other areas of the market that are potentially undervalued at this point?
Yeah, so, so small caps have rallied quite significantly in part due to what was looking like a potential for a Republican sweep.
And that would mean potentially less regulation that can be onerous for small caps.
Um you know, where we’re, where we’re focused in across multi sector credit, you know, we’re looking at opportunities in fixed income with high yields that can produce income in a very resilient fashion, right?
So, meaning these higher levels of yield really are um attractive in fixed income.
And, you know, when we look across with the equity volatility that we’ve seen so far due to um changing uh steps along the way in this election cycle.
Uh You know, think that there’s a more predictable opportunity for that uh yield and, and cash uh income stream in fixed income.
All right, some great advice there, Sonali Pierre Pimco Portfolio Manager of multi sector credit.
Coming up the great wealth transfer, we’ll talk strategy around managing and growing your money.
If you’re somebody set to inherit some cash that’s coming up next.
The latest inflation numbers from the PC price index will be released this Friday for more on what to expect is our very own.
So this week, we do get another important look at inflation with the personal consumption expenditures index or PC.
This measure is watched closely, of course, because is the Federal Reserve’s preferred inflation gauge due out on Friday.
Economists expect that closely monitored core P ce which removes volatile food and energy prices increased 2.5% in June from the previous year down from May’s 2.6% annual gain over the prior month.
Economists expect core PC he rose 0.2% slightly above May’s 0.1% increase.
Yahoo Finance spoke recently with Michael Antonelli.
He is the market strategist for baird private wealth management about his expectations for the P CE report.
Bottom line.
He would argue that the market has largely now moved past concerns about inflation.
Inflation is a story for the market I think is mostly just mostly irrelevant at this point.
II I really do.
I think some of the recent data that we’ve seen even when we see hot inflation numbers hot, right?
A little bit above three, the market has still gone higher.
Because we were worried about the kind of sp wage price spiral we saw in the seventies or inflation we saw in the seventies, the market was worried about the tails of inflation, we’ve clearly lopped those off.
Um So if it fluctuates between 2.7 and 3.1 or 2.6 the market can handle that.
Antonelli thinks the fed with evidence of a cooling labor market now has more cover to cut the federal funds rate.
He is not alone, many economists agree with that call.
In fact, traders are pricing in a nearly 94% chance that the FED will cut interest rates in September.
It’s according to the CME group’s fed watch tool.
Not everybody thinks the fed should cut rates that time.
There are some economists who argue that our central bankers should wait for more signs of economic weakness before easing policy.
But if and when the fed does cut rates that does impact consumers, of course, lower interest rates lead to lower borrowing costs.
So it does get cheaper for consumers to finance the purchase of everything from appliances to the houses.
It also potentially doesn’t mean folks pay less on their credit card debt.
Of course, there’s a flip side as well.
Lower interest rates mean lower interest payments consumers currently enjoy in saving accounts and C DS.
Thank you, Josh a lot to look out for later this week.
Thanks for staying on top of it for amazing.
Well, it’s estimated that over $38 trillion will be transferred to millennials and gen years from their parents over the next 20 years.
And what is being coined the great wealth transfer.
So what can younger Americans do to prepare for this financial windfall for more?
We welcome in CJ F no founder CJ and thank you so much and you know, when we talk about something like this, it feels very overwhelming at first, especially if you’re younger.
So when, if you do inherit this wealth, what’s first step that you should be taking?
Well, luckily I’m not that young or cohort, but it has happened to me.
Not a lot of mentors at the time when I went through it.
So really the first thing to think about is to think chronologically, for example, what am I doing with a long term plan after college?
So first, once you decide that and then you’re faced with the issue of inheritance, you’re able to work those issues in a long term personal wealth management plan.
Now, there are a lot of issues like appraisal.
If your, if your parents who are passing owned assets, if they own businesses, there’s a lot of specific issues.
But once you have the foundation of this personal wealth management plan, you can take those issues in stride.
What other strategies or tips and tricks should people utilize in order to best take advantage of this moment?
Ok.
So I think of it in terms of the I call them the four horses.
So first thing is what, what is your, what is your, why, why are you doing these things.
Do you have a family that you wanna provide for their future wealth and, and their future generally?
Um Are you just thinking about the numbers of portfolio wealth building?
Well, that’s diversification, which for me is the beginning of every single discussion when it comes to personal wealth management last, but not least there’s a little bit of a controversial one of those horses.
Uh It’s philanthropy.
Now, I know that sounds like it’s only reserved for the wealthy.
It is not because impact investing is so important to younger demographics, to millennials, which I’m not.
But, but one that it would, I I started when I had very little money is, if you can give 10% of whatever that number is, it will set you up both network wise and personal success and happiness.
So those are the four horses, retirement, family planning, diversification, and philanthropy, whatever level you can got you.
And now from the perspective of those that are preparing to transfer their wealth, what sort of conversations need to be had prior to first and foremost education.
I mean, it’s amazing to me and in such an amazing country that we live in a and one of the and the greatest economy and developed nation in the world that our personal financial literacy is unfortunately really poor.
In fact, we’re starting a nonprofit called Noye Wealth Club just about education.
So that beginning is, and every time I give a talk, by the way, I, I am speaking at conferences around the country, no matter what I talk about, everyone comes up and says, I’d love to learn more about that next generation, financial education.
And that’s from an older generation preparing their, whether it’s their Children, their nieces, nephews or maybe they’re not even related.
They just wanna have an impact by providing financial literacy to that next generation.
That’s the foundation and, and, and then again, once that transfer, those transfer issues happen with the financial education that they receive, they’ll handle them.
So we’ve talked about the conversations that people should be having, what people should do.
What about the opposite of that?
What, what are the biggest mistakes that you see people make when they inherit wealth or when they’re preparing to transfer that wealth?
Um You know, I think the biggest mistake is rushing meaning that I gotta make this decision.
Now, there is no, now when you’re dealing with a long term financial plan, you know, time has a different meaning when you’re dealing with things like transfer for me at the time that it happened to me, my personal story, I was pretty educated.
I’ve been AAA chief Investment Officer of a very large multifamily office for many years.
Uh I started at 17 even and, and then even for me with the education, I had had as a professional, it took me 3 to 4 years to actually affect the transfer.
Frankly, there is a huge push in A I to prepare for this education in personal wealth management.
There’s going to be so many tools coming down the pipe now that are going to launch in the next year that is going to accelerate and help specifically about transfer issues.
All right.
So time is on your side here, time is on your side, take your time, learn and then take, then do it step by step in a coherent fashion, right?
We have some tips on this right after the break, taking a look at the top training, take on Yahoo Finance right now and that is Verizon shares of the telecom giant are falling today after miss revenue expectations with second quarter operating revenue coming in at 32.8 billion.
Just shy of the 33 billion Wall Street had expected.
The miss overshadowed gains in wireless phone customers.
Ryzen gained 148,000 postpaid phone subscribers after reporting a loss of 68,000 customers last quarter.
Now telecom companies have been hurt recently with more price conscious consumers holding on to their phones for longer.
That’s led to fewer upgrades.
But Verizon was able to stem some of that bleeding with total wireless service revenue increasing 3.5% from the prior year period.
Meanwhile, adjusted earnings of $1.15 a share came in line with analysts expectations.
The company did say it remains on track to meet its full year.
2024 financial guidance and Americans continue to be disenchanted with inflation and the hits that their wallet is taking every day with those expenses.
One big savings tip from a number of experts is to switch phone providers to take advantage of lower rates and introductory deals here with me.
Now in studio to help you shop for a new phone is Eli Blumenthal, senior editor at C that.
So Eli, let’s first start pretty broad here.
What should people consider when choosing a new phone or new phone plan?
So the first thing we should consider is where are they going to be using their phone if they’re gonna be out and about what’s the coverage like there coverage is the most important thing because if you don’t have service, well, your phone’s not really that great.
So what about your picks for a single family line or even a fam uh or, or even a multi family line?
So for a single family line, you should look at something like T Mobile’s essential saver.
It’s about 50 bucks a month for a single line.
It includes 50 gigabytes of high speed premium data.
It has hotspots at three G speeds, but still in the pinch, it could get the job done if you’re looking at families, look at things like perks.
Do you want Disney?
Do you want to be able to have a discount on Apple or Netflix?
Depending on which services you use, you could save some money there.
So we’ve seen this increased bundling with a lot of these phone providers with the streaming services.
Do you think that’s something we’re going to see more of?
And is that helping get new customers in the door?
So it’s interesting and some providers were seeing a lot more of Verizon a couple of weeks ago introduced uh my home, an expansion of what they’re doing for wireless onto their home Fios five G home internet provider, uh services rather.
And they’re allowing you for 10 bucks a month to get a discount on Disney on Netflix and Max, all while as long as you’re basically a subscriber to their home broadband.
But on the other side, you see carriers like AT&T for years when they had Warner Media as part of their subsidiary, they would offer a discount on Max that is only on some grandfather plans.
They’re not really offering it to new subscribers.
So is it drawing a lot of people in depending on who you ask so important to do your research ahead of time to make sure that you’re getting the bundles that you actually want at the end of the day?
What about any negotiating power that the buyer has?
Is there a way to sort of get yourself a better deal with what you currently have or even when you’re looking to switch for sure, the tired and two track tactics of calling up your provider and saying, hey, T Mobile has a really good offer.
That always can get you a few bucks in savings depending on what your profession is.
If you’re a first responder, if someone in your family is a teacher or a doctor or a nurse, you might also be able to save a little bit there.
So is now the time to look for a new phone plan or, or a new phone?
Yes.
We’re actually right now in the refresh for phones.
So Samsung, the other week just introduced a whole bunch of new foldable phones.
Google in a couple of weeks is expected to introduce a whole series of new phones from their pixel line.
And then of course, come September Apple has traditionally introduced new iphone, assuming they follow that this year, I’m sure we’ll see plenty of deals from a variety of providers to try to get you to switch.
You’re watching Yahoo Finance in a historic move, President Joe Biden decided to withdraw from the presidential race this weekend and endorse Vice President Kamala Harris as his replacement.
This comes just days after the Biden administration has forgiven another $1.2 billion in student loans.
The administration’s latest round of relief brings the total student debt waived to $168.5 billion for nearly 5 million Americans.
So Biden dropping out of the race.
What can we expect for the future of loan forgiveness?
Joining me now is Jennifer Fant, Director of student advocacy at Scholarship, Jennifer.
Thank you so much for joining us as we know when we were just talking about Biden was a champion of eliminating student loans.
Are you expecting Harris, if she is a Democratic nominee to maintain that same stance and move forward with Biden’s current relief plans.
I don’t know if she’ll move forward with the exact same relief plans, but I certainly think that student loan forgiveness will be something that is part of her platform.
Uh We’ll see exactly what the specifics are going forward with her.
Um You know, she certainly is aware of recent court decisions that have not been in favor of student loan forgiveness.
So I expect that she may moderate the plans somewhat to hopefully uh come up with a platform that is more likely to be acceptable.
And if Harris is not elected, what happens to those plans and how could a potential Trump presidency impact where things currently stand?
You know, from what I understand um the Trump position is that he is not for student loan forgiveness.
I’m not sure if that’s going to change at all going forward.
But from everything I’ve seen, he has been against uh student loan forgiveness.
Also, his vice president is against loan forgiveness.
And in fact, Trump wants to get rid of the US Education Department.
So um I expect that probably uh student loan forgiveness will not be part of his platform in any way.
And, and notably, we have seen regulatory challenges already, right with Biden’s relief plan.
So how have you been preparing borrowers uh when it comes to this touch and go nature, especially those that are really banking on this relief.
You know, ever since that first became part of the presidential platform back in the 2020 campaign, I have always told students that they should focus not so much on whether or not they’re going to get student loan forgiveness, but instead to focus on an affordable path to college and to obviously try not to get into debt in the first place.
And that’s what I plan to do going forward.
You know, I always say that uh you know, a dream school is not an elite school that’s highly selective.
So an affordable path to college, one way to get there is through scholarships.
So what’s your advice to students who wanna best position themselves to win these scholarships?
Um You know, the most important thing to do is to, first of all apply for scholarships, far too many students don’t apply for any scholarships at all.
And among those who do, it’s usually a very small number of scholarships.
So what I tell students is, it’s really important to apply for scholarships year round and to aim for applying for at least three scholarships per week and to focus on scholarships where they’re really well matched and where the theme of the scholarship is something they’re more excited about because they’re more likely to do well on their application.
Uh you know, with the scholarship all platform.
We do take away a lot of the mysteries of scholarships for students.
Uh you know, students can find out how many other members of our platform have applied to each scholarship so that they can focus on low competition scholarships.
Uh We also have artificial intelligence built into our platform that makes it easier for students to find scholarships that are more credible.
Um you know, and also that they’ll be better matched for.
So, you know, there are a lot of tools out there available now that were not available in the past to really make the scholarship application process, not quite as daunting as it once was.
So we have scholarships and what are some other things that students can do to help make college more affordable?
You know, all students should be working.
If you are a high school, junior or older, you should be working part time during the school year, full time during the summer and try to save as much of that money as you can for your college education.
Also make sure you submit the FSA every single year and uh apply for scholarships from all levels uh that are available.
So that would be uh scholarships from the colleges you’re applying for or the one you’re attending as well as local scholarships in your community and then private external scholarships, like what we have on our platform uh for students who are looking to make a little bit of extra money.
I really recommend that they take on a side hustle.
You know, there are so many options today for students to do things like do meal delivery, uh grocery delivery, dog walking.
Um There’s just so many different opportunities that students can use to get a little bit of money every week if they need to.
And those options are very flexible, uh, freelancing, uh doing handy person work is another option.
So many ways that students can make money in addition to scholarships, all some great advice there, Jennifer Finetti, director of student advocacy at scholarship Al, thank you so much for joining us.
Can I keep your furry friend and your wallet healthy?
We’ll discuss right after this calling.
All sports fans, you will soon have a new place to get game highlights behind the scenes content and even interact with players.
Red.
It struck deals with five major us sports leagues including the NBA NFL and MLB to license video content and show ads on the video posted by the leagues.
The stock is up over 4% on the news as investors get excited about the potential of social media and how that could have a boost through revenue amid increased a dollars.
Thanks to this new deal, reddit went public back in March and the stock has jumped almost 50% as investors have been excited about its potential growth with artificial intelligence and it looks like the value meal is here to stay mcdonald’s one of many chains out there with the deal bundle this summer confirming an extension of its $5 meal deal through August Yahoo.
Finance senior reporter Brooke de Palma joins us now with more and Brook, I love a good deal.
But what does this mean when it comes to foot traffic?
Yeah.
What we’ve seen so far from place dot A I is that this is working here.
What’s working is the fact that there’s more customers coming in and also is helping mcdonald’s change the perception and that it is not affordable to work there.
Something that it has been scrutinized for in recent months saying that it’s just as expensive as fast casual or eating at home.
And in addition to that mcdonald’s likes the fact that when customers are coming in to try this meal deal, they’re also adding on those full margin items, those items at full price such as a smoky limited time offering quarter pounder there.
And when we spoke to Placer dot A I, it is seeing an incremental lift in foot traffic following the limitation on June 25th of this menu.
The roll out of this $5 meal deal.
Mcdonald’s on roughly 2% lift in foot traffic and keep in mind that we’re lapsing some competitive comparisons year over year, last Q two of last year, we saw mcdonald’s introduce that Grimace shake that did extremely well, for mcdonald’s.
So the fact that they’re seeing a 2.4 to 2.8% increase in foot traffic the weeks following the introduction is pretty meaningful there.
And then one other analyst told me here that this extension to August of mcdonald’s $5 meal deal is likely bridging the gap before they introduce a full national value menu item.
And this could be big news for the overall food, fast food industry.
Given that mcdonald’s is such a dominant player here.
It is interesting though Brooke, because some Franchi franchisees actually think it’s working against them.
So why would that be the case?
Yeah, in the short term franchisees are certainly taking a bit of a hit here.
And why that exactly is happening is because of the fact that 20 to 25% of transactions included the deal according to one Wall Street analyst that we spoke to and that’s way higher than historical norms.
Another expert that I spoke to said, typically 10 to 15% of total transactions end up using a value meal when they’re introduced.
Now again, once again, it’s much uh you know, lower in comparison to what we’re seeing here in addition to that customers are also really utilizing those digital coupons that mcdonald’s has doubled down on recently.
Many customers, roughly 20% of transactions are adding uh a or rather uh customers are adding a 20% off coupon.
So now franchisees are saying, hey, we can’t do 20% off $5.
We have to lift that to $10 even $12 because if people use 2 $5 meals, 20% off, that’s certainly taking a hit on margins.
So franchisees aware that this deal could take a hit on margins.
But also overall know that this will help change the perception and get more customers back in the door, giving us all things value meal just ahead of lunch time and thank you so much.
I appreciate it.
Well, paying for human health insurance is expensive.
But should you also be insuring your furry friend?
Nearly three out of every 100 us dogs have health insurance according to the North American Pet Health Insurance Association to break down everything you need to know.
I do not have a dog but or a pet, but my brother does have a puppy.
Uh simply put pet insurance is health insurance for your cat or dog.
Uh Pet owners are spending on average $1500 a year on their vet bills.
Uh every six seconds, a pet in America has an emergency vet visit.
Uh So pet insurance is there to help with the financial implications of owning new furry family members and making sure they have the care that they need.
We’ve also seen high inflation across the board.
We’ve seen Americans really pull back some of their spending.
How is that impacted your company?
Are you seeing less consumers purchase pet insurance?
On the contrary, we’re seeing a lot more, uh people are understanding that pets are expensive.
You know, vet health care has increased in price, uh higher than the national inflation rate.
You know, there’s not that many vets coming out of veterinary school anymore.
Uh People are very, you know, cautious of these vet care needs and they’re expecting more from their vets.
People are now expecting childlike care for their family members and these pets are family members.
Let’s get that straight.
You know, we love and care for them like they’re our own Children and we want the best care for them.
And I think that, you know, that 3% number could really grow in these coming years.
There’s also different types of pet insurance.
So can you break down what those two or three or four different types are?
So think dental cleanings, vaccines, uh anything like that.
And then there’s accident and illness which is broken bones, you know, ingesting a sandwich with a toothpick in it, emergency surgeries, uh getting allergies, all of that stuff would be covered by the general accident and illness and you can bundle them to have both so that you have preventive care coverage and the larger insurance coverage.
So like you were just mentioning, is it is expensive to take care of any pet outside of pet insurance.
What are some other ways that folks can really manage their expenses when it comes to their furry friend?
I think it’s important to get, you know, your pets trained these days, making sure that your dogs don’t eat random objects on walks, making sure that you invest in the best type of food for your cat or dog, making sure that you know, you’re providing them with a healthy and safe environment, both at home and outside of the home.
You know, we never want there to be any accidents or illnesses, but we understand that mistakes happen and we just want to make sure that, you know, as a pet insurance company, we’re there to help you focus on the care that your pet needs and deserves and not the financial costs that come along with it.
Now spot also has various pricing tiers that are customizable.
Yeah, so the tiers are dependent on the pets age, the pet’s breed and location.
Uh So larger breeds, more luxury breeds like a keen corso or a French bulldog might be a little bit on more expensive side, but those dogs need regular routine checkups.
Uh and it’s a great investment to get pet health insurance for them, some of the more affordable breeds might be, you know, a mixed breed or a smaller, you know, uh, less injury prone breed.
Uh, the different tiers that we offer is we offer up to 90% reimbursement on all vet bills.
Uh, you can change your annual deductible anywhere from $100 to $1000.
Uh, and then we also have that add on preventive care, which is optional, but highly recommended to keep your pets safe.
I think I know the answer here and I’m gonna guess dogs, but I is there a type of pet that, that you see is more popular when it comes to uh getting that insurance and all there some pets that maybe you wouldn’t think of that, that their owners really want that insurance and that help and that lifeline there.
Yes.
So our most popular breed uh actually is French bulldogs.
Uh So I’m glad that people understand that, you know, those are expensive pets.
Uh So it’s French bulldogs, Chihuahuas and Golden Retrievers are our top three.
Uh The healthiest breeds like I said are usually the next breeds.
Uh So those adopted shelter dogs, you know, we love finding homes for them and they usually have really healthy lives.
So adopt, don’t shop highly recommend.
Uh but it really differs just where you are how you take care of your animal uh and just giving them the best care.
All right, Trey Farrow spot, pet insurance CEO and thank you so much for joining us.
You’re seeing green across the screen here as investors continue to assess any potential fallout from Biden’s exit from November’s presidential race.
We’re seeing the dow hover right around the flat line there just dipped into negative territory following its sharp drop on Friday.
We’re seeing the tech heavy NASDAQ though, that’s leading the way higher up about 8/10 of a percent.
That’s followed by the benchmark S and P 500 which is up about 5/10 of percent right now.
And it’s worth noting that both of those indexes are coming off of their worst weekly losses since April.
And we’re going to continue to see how big tech and hold up with both alphabet and Tesla set to report quarterly earnings after the bell tomorrow.
But for now, that’s it for wealth and Alexander can now thank you so much for watching and joining us today and stay tuned for market domination which Julie high and Josh left in.