Latest news with #Couponsnake
Yahoo
06-07-2025
- Business
- Yahoo
7 Kid Items To Stock Up on Before Tariff-Induced Shortages
If you've been following the news in recent months, you've probably heard a lot about higher tariffs being imposed on imported goods — especially those from Mexico, China and Canada. As a parent, you may also be wondering which kids items to stock up on before the stores run out. We're a Family of 5 Living on One Salary: Check Out: While you should only ever buy what you need, some experts believe it might be wise to make some purchases now — just in case those items disappear or skyrocket in price. Many kids toys (approximately 85% of those sold in the U.S., according to the Toy Association) are manufactured in China — one of the countries that'd be hit hardest by rising tariffs. Aaron Razon, personal finance expert at Couponsnake, said toys made in China are most likely to be in short supply due to proposed tariffs. This includes things like action figures, LEGO sets and Barbie dolls. These toys could also become more expensive — if you're even likely to find them on the shelves. Explore More: There could be a scarcity in kids' clothes, too, especially with back-to-school shopping. Razon said that coats, boots and other seasonal accessories could be harder to find. The same could be said for accessories like socks and underwear. But don't stock up out of fear. Only buy the things you already need for your kids. If consumers start to panic buy, retailers could potentially increase their prices accordingly. Some, especially online retailers, might also place limits on how much shoppers can purchase. Along those same lines, consider buying footwear — like athletic shoes or sandals — for your kids. Just don't go overboard with it. 'I think stocking up on these items could backfire on parents if everyone starts buying in bulk in anticipation of a shortage,' said Razon. 'I mean, apart from the fact that this could lead to a surge in demand, and potentially exacerbate the very shortage they are trying to prepare for, there is also the fact that it could lead to wasted resources.' Are you in the market for a new gaming console for your kids? You might only need the one console, but now could be a good time to buy. 'Tariffs affect kids and youth particularly hard since most toys, electronics and clothing are manufactured overseas, including gaming consoles,' said Liam Hunt, Director of Research at That's because many of these items are made in China and Southeast Asia. Gaming consoles aren't the only thing to consider buying. A lot of tech and accessories imported from abroad could become more expensive or see limited stock. Hunt suggested shopping early if you're looking for holiday gifts since prices will likely increase. Supply also tends to drop around these busier times. Tariffs have a trickle-down effect on both prices and availability. Things like bikes, scooters and backyard playground equipment could be in short supply due to tariffs. So, if you're in the market for any of these things, now might be the time to buy. 'It would be wise for parents to stock up on big-ticket items,' said Hunt. 'But avoid hoarding everyday items.' Do you have a little one on the way? Or are you already a proud parent (or grandparent, or aunt or uncle)? If so, you might want to grab essential baby gear like strollers or high chairs now. Razon said the availability of these items could also be impacted by tariffs. More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on 7 Kid Items To Stock Up on Before Tariff-Induced Shortages
Yahoo
27-06-2025
- Business
- Yahoo
5 Reasons Retirees Should Consider Taking Out a Personal Loan
Retirement often comes with a fixed income, but that doesn't mean unexpected expenses disappear. From rising healthcare costs to home repairs and lingering debt, retirees may face financial gaps that savings alone can't cover. Read Next: Check Out: In the right circumstances, a personal loan can be a smart, strategic tool to manage those challenges. While borrowing in retirement requires careful consideration, here are five reasons retirees could consider taking out a personal loan. Withdrawing from retirement accounts prematurely can trigger taxes or penalties. A short-term personal loan may offer a buffer, giving investments more time to grow or delaying taxable withdrawals. 'Retirees and those nearing retirement tend to be super cautious about loans, and part of the reason for this is that they believe that by the time they are retired, they should have completely fulfilled their debt obligations,' said Aaron Razon, a personal finance expert at Couponsnake. 'They, however, forget to factor that in a significant way, loans are leverages, opportunities to tap into financial resources that can enhance retirement security.' Be Aware: Some retirees carry credit cards or other high-interest debt into retirement. A LendingTree analysis found that over 97% of U.S. retirees have non-mortgage debt. Among retirees in the country's largest cities, the median non-mortgage debt is $11,349. Using a personal loan to consolidate balances can lower interest rates, reduce monthly payments and simplify finances. 'A 67-year-old retiree needs $20,000 to pay off an existing high-interest debt that has been a major strain on her monthly budget causing her to fall behind on other bills and accumulate late fees as a result,' Razon said. 'So she takes out a personal loan with a 10% interest rate and a three-year repayment term to consolidate her debt into a single manageable monthly payment, which allows her to reduce her financial stress and save on interest charges.' Even with Medicare, out-of-pocket costs and uncovered procedures can quickly add up. According to the latest data from the Consumer Financial Protection Bureau (CFPB), around 4 million older adults reported having unpaid medical bills. And that's despite the fact that nearly all of them (98%) had health insurance. CFPB researchers found that much of the unpaid medical bills were due to billing inaccuracies. 'CFPB findings suggest that providers are billing older dual beneficiaries for amounts they don't owe,' CFPB researchers said. While a personal loan can't resolve billing inaccuracies, it can tide retirees over until billing disputes are resolved without draining savings or disrupting investments. Whether it's relocating to a retirement community, helping a grandchild with college or downsizing, a personal loan can offer short-term liquidity for big life changes. Razon said personal loans offer fixed interest rates and predictable payments, making them a budget-friendly option for retirees on a fixed income. 'In a personal loan, retirees should look for competitive interest rates, and flexible repayment terms, and make sure to borrow an amount that is sufficient for their needs without overburdening themselves,' Razon said. 'They should also look for a repayment schedule that fits their income and expense cycle and verify the lender's reputation.' Even in retirement, unexpected financial hiccups can occur. A delay in Social Security payments, pension distribution delays or the sale of an asset can create a short-term income gap, putting a strain on daily living expenses. Rather than turning to high-interest credit cards or withdrawing funds from retirement accounts, which could trigger taxes or penalties, a personal loan can provide quick and predictable funding. With fixed payments and a clear payoff timeline, it can provide a manageable solution that avoids long-term financial disruption. 'A personal loan is like fire,' said Stoy Hall, CFP, CEO and founder of Black Mammoth, a wealth management company. 'Used right, it can warm your house or cook your food. Used wrong, it burns your whole financial future down.' More From GOBankingRates The 5 Car Brands Named the Least Reliable of 2025 This article originally appeared on 5 Reasons Retirees Should Consider Taking Out a Personal Loan Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-06-2025
- Business
- Yahoo
3 Things DOGE Did in Trump's First 100 Days and How They Affected Your Wallet
President Trump proclaimed at the beginning of his second term through several executive orders and initiatives designed to reshape the government and economy. One of the most controversial was the Department of Government Efficiency (DOGE). In just 100 days, DOGE officials slashed federal programs, eliminated thousands of jobs and froze spending across agencies. For You: Discover Next: While officials touted billions in savings, the financial fallout for everyday Americans was more complicated. From weaker consumer protections to longer wait times and higher out-of-pocket costs, here are three things DOGE did in Trump's first 100 days and how they affected your wallet and the economy. One of DOGE's most immediate and far-reaching actions was the mass restructuring of the federal workforce. Aaron Razon, personal finance expert at Couponsnake, said for thousands of families, this meant the sudden loss of a stable income and the ability to manage day-to-day finances confidently. 'This move has had one of the most significant impacts in the financial lives of many American individuals and their households,' Razon said. 'It directly cuts off the income of federal employees putting them in an uncomfortable financial situation and because it directly cuts their regular income, it puts them in a position where managing their finances becomes even more challenging.' Check Out: The mass layoffs forced families to adjust their financial behavior, from cutting back on extras to delaying purchases and prioritizing essentials. 'The ripple effect of this reduction in consumer spending, also creates far reaching consequences for businesses, especially those in the retail and service sector because as consumers attempt to put a leash on their wallets,' Razon explained, 'these businesses expenses decreased sales, which potentially leads to reduced revenue, inventory management and staffing adjustments.' Another major decision by DOGE was to cancel or freeze thousands of government grants. 'Federal agency reforms led by DOGE have disrupted services, such as delays in Social Security or IRS processing, increasing financial strain for consumers reliant on timely government support,' said Kevin Brancato, senior vice president of product strategy at TechnoMile. Many of the grants and services supported housing, childcare, utility assistance and food access. Without this support, many households had to absorb those costs directly, tightening already fragile budgets and cutting into local business revenues. According to the Center for American Progress analysis, many of the DOGE cuts impact women and girls. The analysis explains that DOGE withdrew financial support from a housing aid initiative in Alaska, eliminating close to $500,000 in funds that had previously supported vulnerable populations in addressing housing discrimination and securing solutions to help them recover and move forward. In February, DOGE effectively cut nearly 90% of the Consumer Financial Protection Bureau's (CFPB) staff, eliminating about 1,500 jobs and crippling enforcement capacity. Established in the aftermath of the 2008 financial crisis, the CFPB was created to stop abusive debt collection, crack down on predatory lending, hold banks accountable for hidden fees and serve as a financial watchdog. According to the latest CFPB data, the agency's investigations and enforcement resulted in over $21 billion in monetary compensation, principal reductions, canceled debts and other consumer relief. In addition, the Associated Press reported that a federal judge halted the move in April, citing significant concerns because the cuts would severely weaken the agency and make it impossible for it to fulfill its legal responsibilities. Although the CFPB remains officially open, the agency's dramatic downsizing and operational freeze have forced it to abandon or withdraw major enforcement actions, according to Reuters. Notably, it canceled a $60 million settlement with Toyota's financing arm. It dropped a lawsuit against Walmart related to junk fees for delivery drivers, effectively closing the book on high-impact consumer protection cases. Toyota was accused of steering customers into buying expensive and unwanted product bundles. In a statement, Eric Halpern — former CFPB director who resigned in February 2025 — said the agency's decision to cut back on enforcement amounted to a corporate pardon, according to Reuters. For allegedly harmed consumers, it means Toyota doesn't have to provide refunds or restitution. Looking ahead, experts said the next phase of DOGE's agenda could bring even more direct impacts to household finances. 'In the next 100 days, consumers should watch for early efforts to reduce the deficit, likely through proposed changes to entitlement programs like Social Security and Medicare — moves that could affect household budgets,' Brancato said. 'At the same time, new tariffs may raise prices on everyday goods, putting upward pressure on consumer costs,' Brancato added. 'However, these tariffs could also encourage domestic manufacturing and reduce reliance on foreign supply chains, potentially creating new jobs and long-term economic resilience.' Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 5 Types of Cars Retirees Should Stay Away From Buying 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on 3 Things DOGE Did in Trump's First 100 Days and How They Affected Your Wallet Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-06-2025
- Business
- Yahoo
3 Things DOGE Did in Trump's First 100 Days and How They Affected Your Wallet
President Trump proclaimed at the beginning of his second term through several executive orders and initiatives designed to reshape the government and economy. One of the most controversial was the Department of Government Efficiency (DOGE). In just 100 days, DOGE officials slashed federal programs, eliminated thousands of jobs and froze spending across agencies. For You: Discover Next: While officials touted billions in savings, the financial fallout for everyday Americans was more complicated. From weaker consumer protections to longer wait times and higher out-of-pocket costs, here are three things DOGE did in Trump's first 100 days and how they affected your wallet and the economy. One of DOGE's most immediate and far-reaching actions was the mass restructuring of the federal workforce. Aaron Razon, personal finance expert at Couponsnake, said for thousands of families, this meant the sudden loss of a stable income and the ability to manage day-to-day finances confidently. 'This move has had one of the most significant impacts in the financial lives of many American individuals and their households,' Razon said. 'It directly cuts off the income of federal employees putting them in an uncomfortable financial situation and because it directly cuts their regular income, it puts them in a position where managing their finances becomes even more challenging.' Check Out: The mass layoffs forced families to adjust their financial behavior, from cutting back on extras to delaying purchases and prioritizing essentials. 'The ripple effect of this reduction in consumer spending, also creates far reaching consequences for businesses, especially those in the retail and service sector because as consumers attempt to put a leash on their wallets,' Razon explained, 'these businesses expenses decreased sales, which potentially leads to reduced revenue, inventory management and staffing adjustments.' Another major decision by DOGE was to cancel or freeze thousands of government grants. 'Federal agency reforms led by DOGE have disrupted services, such as delays in Social Security or IRS processing, increasing financial strain for consumers reliant on timely government support,' said Kevin Brancato, senior vice president of product strategy at TechnoMile. Many of the grants and services supported housing, childcare, utility assistance and food access. Without this support, many households had to absorb those costs directly, tightening already fragile budgets and cutting into local business revenues. According to the Center for American Progress analysis, many of the DOGE cuts impact women and girls. The analysis explains that DOGE withdrew financial support from a housing aid initiative in Alaska, eliminating close to $500,000 in funds that had previously supported vulnerable populations in addressing housing discrimination and securing solutions to help them recover and move forward. In February, DOGE effectively cut nearly 90% of the Consumer Financial Protection Bureau's (CFPB) staff, eliminating about 1,500 jobs and crippling enforcement capacity. Established in the aftermath of the 2008 financial crisis, the CFPB was created to stop abusive debt collection, crack down on predatory lending, hold banks accountable for hidden fees and serve as a financial watchdog. According to the latest CFPB data, the agency's investigations and enforcement resulted in over $21 billion in monetary compensation, principal reductions, canceled debts and other consumer relief. In addition, the Associated Press reported that a federal judge halted the move in April, citing significant concerns because the cuts would severely weaken the agency and make it impossible for it to fulfill its legal responsibilities. Although the CFPB remains officially open, the agency's dramatic downsizing and operational freeze have forced it to abandon or withdraw major enforcement actions, according to Reuters. Notably, it canceled a $60 million settlement with Toyota's financing arm. It dropped a lawsuit against Walmart related to junk fees for delivery drivers, effectively closing the book on high-impact consumer protection cases. Toyota was accused of steering customers into buying expensive and unwanted product bundles. In a statement, Eric Halpern — former CFPB director who resigned in February 2025 — said the agency's decision to cut back on enforcement amounted to a corporate pardon, according to Reuters. For allegedly harmed consumers, it means Toyota doesn't have to provide refunds or restitution. Looking ahead, experts said the next phase of DOGE's agenda could bring even more direct impacts to household finances. 'In the next 100 days, consumers should watch for early efforts to reduce the deficit, likely through proposed changes to entitlement programs like Social Security and Medicare — moves that could affect household budgets,' Brancato said. 'At the same time, new tariffs may raise prices on everyday goods, putting upward pressure on consumer costs,' Brancato added. 'However, these tariffs could also encourage domestic manufacturing and reduce reliance on foreign supply chains, potentially creating new jobs and long-term economic resilience.' Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on 3 Things DOGE Did in Trump's First 100 Days and How They Affected Your Wallet Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
3 Ways Trump's Tariffs Affect Prices Even After Rollbacks
President Donald Trump recently reduced tariffs on 'de minimis' packages, shipments worth less than $800 from China, from 120% to 54%, giving American shoppers a little relief. Despite these rollbacks, consumers shouldn't expect immediate relief at the checkout counter. Read More: Find Out: According to experts, here are the different ways Trump's tariffs will affect product prices even after rollbacks. One of the reasons prices may remain high even after rollbacks lies in retailers' existing inventory. The products sitting on store shelves were likely imported under older, higher rates. That means retailers are still passing this cost to consumers. 'Trump rolling back tariffs at this time doesn't guarantee that things would no longer be expensive for millions of Americans,' said Aaron Razon, personal finance expert at Couponsnake. 'Retailers would continue to pass on the tariff cost from their previous inventory down to consumers in order to stay profitable, and this will keep prices up for consumers.' Retail companies, including Walmart, Best Buy, Adidas, and Stanley Black & Decker, among others, have issued warnings of raising prices due to Trump tariffs, according to a CNN report. The impact on pricing adjustments extends beyond retailers' existing inventory until negotiations with China reach a conclusive agreement. Try This: Not all products will face the same tariff pressure. The complexity of manufacturing and global supply chains means certain products face persistent price pressures even after tariff reductions. 'The more complex a product is and the more it depends on components from different countries, the more it is subject to price increases due to tariffs,' said Julia Khandoshko, CEO of Mind Money. 'For example, microelectronics, which is assembled from many parts imported from all over the world, will be at the greatest risk of rising prices.' This complexity will likely be an ongoing challenge for manufacturers who rely on multiple imported parts from different countries, which could lead to delays in deliveries and higher costs for consumers. The 120% to 54% tariff drop might seem like a huge relief for shoppers, but in reality, it's still extremely high for millions of Americans. For this reason, consumers may not notice much relief at the checkout line. 'The truth is that a 54% tariff is still a significant burden,' added Razon. 'This exposes them to the danger of a false sense of security that the rollback on tariffs is a significant relief when, in reality, it's not. Consumers would continue to feel the strain of higher prices.' More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 6 Big Shakeups Coming to Social Security in 2025 10 Cars That Outlast the Average Vehicle This article originally appeared on 3 Ways Trump's Tariffs Affect Prices Even After Rollbacks
