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💵 Today’s Top Stories
One bank account isn’t enough, according to Clark Howard. If you’re a couple, two isn’t enough either. Here’s why — and how many accounts you should have. Read more.
This phone provider runs on Verizon’s network and offers cell phones and software tailored for seniors for as little as $15 a month. Read more.
Credit cards can work for you or against you in a major way. Here’s how to turn credit cards into a tool for good while avoiding the pitfalls, Clark says. Read more.
Historically, Wealthfront is famous for its outstanding free financial planning tools. But there’s a major update about how easy it is to access them. And is it still one of the best robo-advisors? Read more.
💸 Inflation Uncertainty Persists for the Rest of 2026
June’s U.S. inflation number came in yesterday at 3.5%, lower than the 3.8% expectation. It also represented a healthy drop from the 4.2% registered in May.
But if you’re trying to plan out your personal finances or your business, know that predicting what’s ahead is even trickier right now than normal.
Here are a few of the major reasons why:
The conflict in Iran. Though things seem to be calming down, it hasn’t happened in a linear fashion. There’s a two-step-forward, one-step-back pattern. The harder the conflict trends toward ending for good, the better the outlook – especially for oil and gas prices. But if something happens to reignite the conflict in a more substantial way, expect oil and gas prices — and perhaps inflation and the broader economy — to go the other way.
The impact of AI. Financial newsletter Opening Bell Daily sent out this headline yesterday morning: “The AI boom could push the Fed to raise rates even if the Iran conflict closes out.” Computer software inflation hit 14.5% year-over-year, the Producer Price Index (PPI) for electronic components is up 26.9% year-over-year and data projects have pushed electricity inflation to 5.9%. Skyrocketing AI memory costs have “led companies like Apple and Microsoft to raise prices on laptops and gaming consoles.”
New Federal Reserve chair. Kevin Warsh took the oath of office on May 22, succeeding Jerome Powell. He’s held the role for a single Fed meeting (June 16-17). His second meeting is coming up (July 28-29). There’s some level of uncertainty about how Warsh and the Fed will act. The Wall Street Journal just reported, “Warsh Tells Congress the Fed Has ‘No Tolerance’ for High Inflation.” Yesterday morning, prediction market Kalshi listed the chances that the Fed will maintain the current rate at 92%. But it also listed the odds of a Fed rate hike before the end of 2026 at 54% (it was just 20% on May 8, barely two months ago).
It’s typically a fool’s errand to try to predict where the economy is headed in the short term.
It’s a great time to get back to the basics Clark talks about: spending less, saving more and investing broadly and cheaply for the long term.
📊 Stat of the Day
🚗 150,000: Vehicles auctioned in the U.S. for less than $10,000 every month. So four-figure vehicles are gettable, even though they’re relatively rare. What to look for: vehicles between 7 and 15 years old that are often from Ford, Chevrolet, Toyota and Honda.
💰 Deal Alert: Today’s Top Deals
🎙 Podcast
Making friends as an adult is harder than ever — but just how much time does it actually take to build a close friendship? In this episode, Wes Moss discusses the growing friendship gap in America and the surprising research behind forming meaningful connections. A study from the University of Kansas found that becoming a close friend takes far more intentional time than most people realize. Wes explains why friendships become more difficult to maintain as we age and what you can do to build and preserve strong relationships throughout life. Plus, are financial advisors really worth the cost? With about half of pre-retirees working with an advisor and half managing on their own, Wes breaks down who can benefit from professional financial guidance — and who may not need it. From investing and tax planning to estate and family considerations, learn when financial advice can add real value.
☎ 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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