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💵 Today’s Top Stories
It’s the ultimate warehouse club showdown. Two enter the Thunderdome. Will Costco or Sam’s Club emerge victorious as we scrutinize both memberships? Read more.
The idea of umbrella insurance is nice, especially if you have assets to protect. But what do you actually get? And does Clark like these? Read more.
One of Team Clark’s favorite cash back credit cards is no longer taking new applications. What’s going to happen to existing card holders? And what are some good Citi alternatives? Read more.
Smart shoppers can score great deals on TVs if they know when and where to look. Read more.
🌴 Many Americans Are Curtailing Summer Travel Due to Costs
Americans are reshaping their summer travel plans – or scrapping them altogether – in an effort to save their wallets.
About two-thirds of Americans say they’ve altered their summer travel plans because of increasing prices according to a U.S. News survey in April.
Almost four in 10 Americans won’t be traveling anywhere at all this summer (with cost as the biggest reason why), according to another survey. About half of those people say they are unable to afford the cost of a trip.
“Staycations” are one of the top predicted summer travel trends, followed by “quietcations” and “micro-breaks.” (“Micro-break” just doesn’t have the same ring to it as “vacation,” does it?)
Said Erin Bruehl, VP of Communications at financial services company Current: “The travel trends we’re seeing for summer reflect just how practical and realistic Americans are being with their finances. Instead of giving up on travel, they are being smarter about it.”
Fortunately, of those taking summer trips: 46.8% plan to pay with “savings/cash,” while another 19.7% plan to pay with a credit card and pay it off right away and still another 11.1% plan to pay with credit card rewards/points.
Unfortunately, others plan to pay with a credit card and carry a balance (11.8%), with a buy now, pay later plan (4.3%) or with a personal loan (2.5%).
Clark is a huge fan of travel, but also on spending only what you can afford. Practicing good financial habits over the long-term increases your chances of having the freedom to spend on travel without borrowing money.
📊 Stat of the Day
💵 33.4%: Share of 16- to 19-year-olds with summer jobs in 2025. The number hit an all-time low during the back end of the Great Recession. But it hovered near 50% for most of the 20th century. It’s also the second-smallest gap ever between summer and “rest of year” employment for that age group (3.2%). In a recent podcast, Clark shares why he required all three of his children to start working at age 15.
💰 Deal Alert: Today’s Top Deals
🎙 Podcast
Is helping your adult children buy a home a smart investment, or a threat to your retirement? In this episode, Wes Moss breaks down the harsh realities of today's housing market. With the median age of first-time homebuyers skyrocketing past 40 due to high prices and interest rates, more parents than ever are wondering if they should step in with down payment assistance. Wes shares the specific dollar amounts where helping your kids starts to negatively impact your happiness and retirement security, and why shifting your mindset from "spending" to "investing" changes the game.
☎ 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.
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