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💵 Today’s Top Stories
If your computer is doing any of these things, it could mean you’ve been hacked. Here’s what you can do to protect yourself against identity theft and more. Read more.
Homeowners insurance exists to protect against a catastrophic event. Your top priority is to get coverage that will actually protect you rather than the cheapest premiums, Clark says. Read more.
Your streaming bill is about to change again. As these two giants join forces, we’re breaking down the timeline, the potential for price hikes, and what this massive deal actually means for your current subscriptions. Read more.
The consequences can wreak havoc on your finances. Clark calls it a “hideous virus” and “an ugly trap.” So arm yourself with this information before you make an online purchase this way. Read more.
💵 Calculator of the Week: Pay Off Mortgage or Invest Calculator
This calculator helps you answer a common financial question: If you have extra money, should you put it toward paying off or paying down your mortgage or invest it instead?
💰 Average Net Worth By State
A new study revealed the median household net worth by state.
If you choose to make the Hawaiian Islands your permanent home, chances are your family has a pretty good net worth.
Here are the five states with the highest median household net worth, according to the study:
1. Hawaii: $692,700
2. Washington: $456,500
3. New Hampshire: $412,600
4. Massachusetts: $394,900
5. Colorado: $370,000
And here are the five lowest states:
43. Arkansas: $62,600
42. New Mexico: $77,600
41. Oklahoma: $78,510
40. Kentucky: $81,900
39. Louisiana: $85,230
You can view detailed stats on every state in the survey inside the article.
Data for Alaska, Delaware, North Dakota, South Dakota, Rhode Island, Vermont and Wyoming wasn’t available.
Smart Asset also handed out a few superlatives:
Massachusetts claims “highest retirement savings.” The median retirement savings is $150,000 and about 75% of households maintain retirement savings.
California’s median household home equity is $550,000, roughly double the median household net worth ($273,800).
Mississippi ($87,280) is the sixth state that features a median net worth below $100,000.
📊 Stat of the Day
🚘 $4,565: The gap between the perceived and actual cost of maintaining a used vehicle each year. Drivers are spending 167% more than they expected. Fuel (almost $2,000), insurance (more than $1,700) and maintenance and repairs (more than $1,200) were the largest expenses.
💰 Deal Alert: Today’s Top Deals
🎙 Podcast
Clark tackles the "Buy Now, Pay Later" phenomenon that has spread across the U.S. like a financial virus. He dives into why these schemes are a recipe for disaster and how failing to keep up with payments can quickly ruin your credit score. Also, Clark addresses the worsening doctor shortage. Because the medical field financially penalizes primary care doctors in favor of specialists, the economics of healthcare are becoming increasingly imbalanced. This has led to a surprising new front line in medicine.
☎ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
