Latest news with #IntuitCreditKarma
Yahoo
2 days ago
- Business
- Yahoo
'Vibe-Based Budgeting' And 'Revenge Saving': How Emotion-Based Habits Could Actually Boost Your Net Worth
For years, financial experts have warned against letting emotions dictate our financial habits. Decisions about spending, saving, and investing should all come from a logical, fact-based place, they say. It's solid advice, but the type of guidance that is increasingly being ignored as economic uncertainty lingers. And experts say that may be okay, too. A new survey from Intuit Credit Karma found that 44% of Americans are now engaging in "vibe-based budgeting." This means that they're choosing to adjust their financial habits based on how the economy feels, even if their money situation hasn't changed. Don't Miss:$100k+ in investable assets? – no cost, no obligation. According to the survey, 61% of people feel more anxious about the economy than they did a year ago. This is often not driven by their own financial situations— 72% of respondents told Intuit Credit Karma that their cash flow had either improved or stayed the same over the past year— but by outside factors like the economic news they consume or rising prices. Intuit Credit Karma's findings mirror those from a recent Vanguard survey. That report found that 71% of Americans plan to shift their savings approach over the summer to prioritize emergency funds and flexibility. This belt-tightening is what experts are calling revenge saving, the antithesis to the revenge spending that followed the pandemic, according to CNBC. "If you're concerned about the future, if you have some uncertainty, consumers may be looking to create that emergency fund or create that savings, because uncertainty means you want to be able to put your hands on cash if you need it quickly." TransUnion Senior Vice President of Global Research and Consulting Charlie Wise told CNBC. Trending: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — Saving money is always a good move, regardless of whether that decision is made logically or emotionally. So while experts aren't shooting down "vibe-based budgeting" or "revenge saving," they're still urging consumers to be intentional with their habits. Strategies like reverse budgeting, creating separate accounts for different financial goals, and periodically increasing your savings rates are still the preferred ways to stack your money. For those who find that anxieties around money are driving a lot of their financial habits, experts suggest taking a "money temperature." A fairly simple concept, this involves looking closely at what you're spending and saving, and ensuring that you're comfortable with that balance. "There are people that are way off track that are spending everything. And there are people that are the best savers in the world, and they're sometimes the most miserable," certified financial planner and Equilibrium Wealth Advisors founder Matthew Blocki told CNBC. "By taking "a 'money temperature' — if you utilize it correctly as a tool — you can reach the balance between living a good life today, securing the future and not having decision fatigue and not having regrets when you look back," he said. Read Next: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — Can you guess how many retire with a $5,000,000 nest egg? . Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Vibe-Based Budgeting' And 'Revenge Saving': How Emotion-Based Habits Could Actually Boost Your Net Worth originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
09-07-2025
- Entertainment
- Yahoo
Here's How Much Gen Z Is Spending on Their Weddings—And the 7 Factors Influencing That Number
Every 20 years or so, there's a shift: Suddenly, a new generation is getting married. And right now, Gen Z couples are starting to tie the knot. 'Gen Z are the ones bringing bold ideas and zero patience for doing things 'just because that's how it's always been done,'' says wedding planner José Rolón. 'They care about meaning, vibes, and aesthetics. They're super collaborative, very online, and not afraid to throw tradition out the window if it doesn't fit who they are.' Compared to millennials, this generation is also more likely to pay for their own weddings, and therefore, they're less concerned with what others want their big day to look like. 'Working with Gen Z couples offers a fresh perspective,' says wedding photographer Alicia Rinka. 'They prioritize authenticity, personalization, and meaningful experiences over traditional ones. Their planning often involves unconventional venues and a strong emphasis on sustainability and inclusivity.'José Rolón is the founder of José Rolón Events and the content creator behind NYC Gay Dad. Alica Rinka is a wedding photographer based in Colorado. Melissa Sullivan is the owner and lead designer at Le Bloomerie, a wedding floral artistry firm in the Bay Area. Courtney Alev is a consumer financial advocate at Intuit Credit Karma, which recently conducted a study on Gen Z wedding Zers are going abroad for their weddings, bringing in THC-infused drinks rather than cocktails, wearing whatever they want, and putting sections of their budget toward new vendors, such as content creators. Many are having smaller weddings in order to have bigger honeymoons, or cutting back in some areas in an effort to save for a down payment on a house. 'We're seeing the early wave of Gen Z couples starting to plan and book, and it's already influencing the industry in subtle but significant ways,' says Melissa Sullivan, a floral designer. While factors like inflation and tariffs are driving costs up for couples of all ages, Gen Z is spending differently. Even though the average cost of a wedding is hovering close to where it's been in previous generations–around $40,000 to $60,000—the cost breakdown has changed dramatically. 'My advice to Gen Z couples planning their weddings right now is to start with a clear understanding of how much you're willing and able to spend,' says Courtney Alev, a consumer financial advocate at Intuit Credit Karma. 'When making financial decisions for your wedding, remember that the heart of the day is celebrating your love with the people who matter to you—and the dress, flowers, tablecloths, and centerpieces won't be what you remember most.' Here, the experts weigh in on how much Gen Z is spending, where they're spending it, and who is footing the bill. Read on for more. Related: What Is the Average Cost of a U.S. Wedding in 2025? In May, BRIDES asked our Instagram followers an important question: If you're a Gen Zer and planning a wedding, what is your big-day budget? Of the more than 2,000 brides and grooms who weighed in, the majority said they're spending $50,000 or less on their big day. (Thirty-two percent are spending between $50,000 and $100,000, while 24 percent are spending more than $100,000.) Location, guest count, and design choices often play an outsized role in determining the bottom line. For example, one couple noted that they're planning a $6,000 wedding for 75 guests in Scranton, Pennsylvania, but another was planning a 150-person wedding in Lake Tahoe, California, for $150,000. One couple is eloping in Iceland with 20 loved ones for $45,000; another is doing the same in San Diego for $10,000. However, while the overall numbers are similar to those of millennials, the money is allocated quite differently. 'It's not about spending more or less—it's about spending differently,' Rolón says. 'Gen Z will go all in on a custom suit, a killer content creator, or a sustainable experience, but they'll skip favors or paper invites without blinking.' Intuit Credit Karma, a financial services company, recently polled its customers about Gen Z weddings. 'According to our recent data, Gen Z is more likely than millennials to overspend on their wedding, as almost a quarter said they spent far out of their means for their wedding, while only 15 percent of millennials could say the same,' Alev says. 'With that said, it's clear that today's couples feel increasingly empowered to break from tradition and allocate their money exactly how they want.' Gen Z couples often direct their budget toward other nuptial-related events instead of the ceremony and reception. 'I'm seeing Gen Z spend less overall on weddings compared to millennials,' Sullivan says. 'Many would rather invest in an unforgettable honeymoon or post-wedding experience than allocate the majority of their budget to the wedding day. That said, they are getting creative with DIY touches like Polaroid cameras on reception tables and custom photo booths, and over-the-top after-parties are becoming more common.' 'More and more, [the couple] is paying, or at least they're contributing a big chunk,' Rolón says. 'Gen Z likes to do things on their own terms, and that includes the checkbook.' Rinka says it's often a fifty-fifty split. 'Based on my inquiries and what I've observed on TikTok, about half of Gen Z couples are contributing to their wedding expenses, while the other half are primarily supported by their parents for the full wedding weekend,' she says. We found similar results: Couples are contributing to their own weddings—or paying for them in full—now more than ever before. Of the 2,302 Gen Zers who weighed in on our poll, about a third are paying for their wedding entirely themselves. Twenty-seven percent said their families are paying for the festivities, and 40 percent are splitting the costs with their families. And when the money is their own, it means doing things their way. 'It's definitely a new ballgame,' Sullivan says. 'Gen Z couples are prioritizing spending based on what they care about, not what's important to parents or guests. If florals are meaningful to them, that's where the budget goes. If the entertainment or guest experience is the priority, that's where they'll splurge. It's a much more intentional and value-driven approach.' In response, vendors are adjusting how they charge. 'Gen Z's preference for transparency has influenced pricing strategies,' Rinka says. 'They want clear, upfront information about costs and packages. Vendors are adapting by offering customizable options and detailed pricing to meet these expectations.' Sullivan is one of them: She's adjusted her packages to include more à la carte options for couples to customize a design based on their priorities. 'Flexibility and choice are key,' she says. 'This generation wants to feel like they're in control of where their money is going and what kind of day they're creating. Related: How Much Do Wedding Cakes Cost? There are two types of factors that affect the cost of weddings: Outside ones like inflation, and inside ones like the couple's wedding-day priorities. Some bring costs up, and others bring them down, ultimately resulting in wedding budgets not too dissimilar from those of millennials. Here, we outline a few external and internal factors—and explain how they're moving the needle with Gen Z weddings. Even if all other factors remain the same, each generation will likely see a slight increase in wedding costs simply due to inflation. 'The rising cost of living has significantly impacted Americans' monthly budgets in general, with 82 percent expressing concern about inflation and its effect on essentials like food, housing, and gasoline,' Alev says. 'As many struggle to keep up with basic expenses, Gen Z couples planning weddings right now may feel an added financial strain and be forced to make sacrifices in their celebration plans.' Inflation has ultimately pushed this generation to be pickier. 'External factors like inflation have raised the overall cost of weddings, including florals,' Sullivan says. 'As a result, Gen Z couples are being more selective. They're asking themselves, 'What's truly important to us?' and allocating their budget accordingly, rather than feeling pressured to do it all.' 'Gen Z is definitely drinking less,' Rolón says. '[We've seen] lots of mocktail menus, some dry weddings, and fun swaps like coffee carts or even cannabis lounges in legal states.' An alcohol-free bar package comes at a lower cost than one stocked with top-shelf liquor and signature drinks. Plus, with the rise in intimate and micro weddings, many Gen Z couples may be providing their own alcohol, rather than adding an expensive package to their catering tab. One thing Gen Z is spending more on? Photography and content. 'Photography has gained even more significance,' Rinka says. 'Gen Z's emphasis on authentic, candid moments aligns with their social media habits. They often seek photographers who can deliver both high-quality images and content to share on social media.' Sometimes, they'll bring on a second vendor, a wedding content creator, to capture content exclusively for social. 'These creators capture behind-the-scenes moments tailored for platforms like TikTok and Instagram, for immediate and shareable content,' Rinka adds. And it's not just their own posting: Social media affects couples' inspiration and what they spend right out of the gate. 'Inflation [affects costs], sure. Tariffs, no surprise! But also social media,' Rolón says. 'They're inspired by what they see online, but they're smart about prioritizing what actually matters to them.' 'Designing for Gen Z couples often means starting with a clean slate,' Sullivan says. 'They are redefining what a wedding 'should' look like, moving away from long-standing traditions. Think: no corsages, no boutonnieres, and in some cases, no bridal bouquets. I've had brides opt for bridal purses instead! Their focus is on what feels fun, personal, and memorable, not necessarily what's expected. I truly believe this generation is setting the tone for new traditions to come.' In addition to honoring their love for each other, younger couples are often focused more on celebrating the communities and experiences that shaped them. Often, that means booking unique or new-to-the-scene vendors. 'Gen Z is splurging on fashion, content, and guest experiences,' Rolón says. 'They're saving on formal dinners, favors, and anything that feels wasteful or too traditional. They're hiring content creators for next-day reels, or bringing in tattoo artists or astrologers. [They're sourcing] curated Etsy finds or commissioning cool, meaningful stuff.' 'One trend we've observed among Gen Z couples is a preference for scaling down their weddings in order to splurge on a memorable honeymoon,' Alev says. 'Among Gen Z and millennials who chose to do a small, intimate micro wedding, Gen Z was nearly 10 percent more likely than millennials to do so with the intention of affording a more luxurious honeymoon instead.' Others are going all-out on destination weddings, which have seen an upward trend since the end of the pandemic. 'Smaller ceremonies with around 50 guests or less seem to be all the rage across both generations, as 67 percent of Gen Z and millennials say they have noticed a rise in micro weddings and have either attended one in the past year or plan to in the next,' Alev says. 'Additionally, an almost equal amount of Gen Z (22 percent) and millennials (20 percent) are currently planning a micro wedding of their own.' It's another way couples are doing things their own way: cutting down their parents' must-invite list to prioritize only those closest to them. 'This trend reflects a shift away from traditional wedding norms,' Alev says. 'As we've seen in many areas, including the workplace, Gen Z continues to challenge long-standing conventions and carve out their own path.' Up Next: How Much Does a Destination Wedding Really Cost? Read the original article on Brides
CNBC
08-07-2025
- Business
- CNBC
'Revenge savings' can boost your bottom line, experts say — here's how to get started
Americans are saving more money — and for some, the change in habit comes down to how they feel about the economy. More than 4 out of 10 Americans, or 44%, say they've engaged in so-called vibe-based budgeting, according to a new survey by Intuit Credit Karma. In other words, they have adjusted their financial habits based on their feelings about the economy, regardless of whether their financial situation has changed. Younger generations are more likely to say they've tried vibe-based budgeting, with 56% of Gen Z and 57% of millennials surveyed. Intuit Credit Karma polled 1,058 adults online from June 13 to 17, 2025. Some of those surveyed point to rising prices and worries about a looming recession as contributing to their vibes. Shaped by headlines, market swings and social media chatter, 61% of people surveyed reported feeling more anxious about the economy than they did a year ago. Their feelings may also be fueling a surge in saving money, as "revenge spending" — the tendency to splurge after the pandemic — shifts to "revenge saving." "If you're concerned about the future, if you have some uncertainty, consumers may be looking to create that emergency fund or create that savings, because uncertainty means you want to be able to put your hands on cash if you need it quickly," said Charlie Wise, senior vice president of global research and consulting at TransUnion. Saving more money is a perennial resolution, but emotions shouldn't drive that habit, financial experts say. Instead, be intentional. Follow these steps to turbocharge your savings: Start by taking a look at how you're spending and saving, and how comfortable you are with the balance of those habits. To get a good read on your situation, you should know how much money you have coming in and what's going out. Gather your pay stubs and your bills to dig into the details. "There are people that are way off track that are spending everything. And there are people that are the best savers in the world, and they're sometimes the most miserable," said certified financial planner Matthew Blocki, founder of Equilibrium Wealth Advisors in Pittsburgh. By taking "a 'money temperature' — if you utilize it correctly as a tool — you can reach the balance between living a good life today, securing the future and not having decision fatigue and not having regrets when you look back," he said. Review your expenses, but don't account for every dime yet. Instead, experts say, ask yourself: What needs to be done to achieve your short-term goals, as well as long-term financial security? Earmark money for your savings goals first, then figure out how much you can afford to spend on necessary expenses and, last, how much you may have left over for "fun money." By getting into the habit of paying yourself first — what's known as "reverse budgeting" — you build a budget based on your savings goals rather than your spending and expenses. Choose the appropriate account for each savings goal. Aim for an emergency fund that can cover at least three to six months of household expenses, financial advisors say. A high-yield savings account can be a smart place for those funds. For your retirement savings, fund your employer-sponsored 401(k) plan and/or an individual retirement account. Open a 529 college savings account to save for education expenses. Blocki advises clients to maintain two checking accounts: one for fixed expenses and long-term savings, and the other to cover variable costs. "From that fixed account, we set up autopay for the mortgage and the car payments. We set up auto pulls into the 529 plans for the kids' college, and the auto pulls into their investment accounts for longer-term goals," he said. "Then it's just, it's on autopilot." Starting to save and invest as early as you can — even if you don't have much to put aside — helps you harness the power of compounding. That means you're earning a return on your contributions as well as on interest or gains you've already earned. Planning for a recurring increase in your savings rate can be helpful. Fidelity recommends raising your savings rate in 401(k) and workplace retirement accounts each year, even if by just 1 percentage point. Do that with college and investment accounts as well, financial advisors say. Small increases can make a boost in savings more attainable and help you feel the pinch far less, so you stay on track.
Yahoo
02-07-2025
- Business
- Yahoo
Gen Z is ditching college for ‘more secure' trade jobs—but building inspectors, electricians and plumbers actually have the worst unemployment
With AI coming for white collar work, Gen Z have been ditching college and corner office ambitions, in favor of taking up traditional trades like welding, plumbing, and carpentry. But they're in for a rude awakening: high unemployment rates, unhappiness and automation risks. Trade jobs are having a moment. Touted as the smarter, safer alternative to 'irrelevant' overpriced degrees and entry level white-collar jobs (which tech CEOs warn could soon to be swallowed by AI), traditional manual work is experiencing a resurgence among Gen Z. Around 78% of Americans say they've noticed a spike in young people turning to jobs like carpentry, electrical work and welding, according to a 2024 Harris Poll for Intuit Credit Karma. They're not wrong. Trade school enrollment really has been surging post-pandemic, even outpacing university enrollment. And it makes sense: six-figure salaries without student loans, the freedom to work for yourself, and hands-on, real-world skills that can't be outsourced to a chatbot. But new research suggests that the reality isn't as stable—or as future-proof—as it's being pitched. According to a new WalletHub study ranking the best and worst entry-level U.S. jobs in 2025, trade roles dominate the bottom of the list. Welders, automotive mechanics, boilermakers, and drafters all rank among the least promising career starters. Worse still, jobs like building inspectors, electricians, and plumbers are tied to the highest unemployment rate in the entire study at 7.2%—more than three times that of entry-level office jobs like budget analysts or financial analysts, which sit closer to 2.0%. Welder Computer Numeric Control Machine Programmer Mechanical Drafter Automotive Mechanic Boilermaker Emergency Dispatcher Architectural Drafter Telecommunications Technician Benefits Administrator Tool and Die Maker According to the researchers, these roles scored poorly due to limited job availability and weak growth potential, as well as their potentially hazardous nature. Plus, while you'd assume the physical nature of trade work makes them immune to automation, WalletHub's analyst Chip Lupo tells Fortune that the data shows they're also vulnerable. 'New technologies like prefabrication and robotics are starting to take over parts of the workload, which can reduce demand,' Lupo explained. Just like office workers who are experiencing mass layoffs and are at the mercy of recessions, rate hikes, and demand, so too are tradies. 'Trade jobs are closely tied to industries like construction and manufacturing, which means they are sensitive to changes in the economy. When these industries slow down, projects often get delayed or canceled, which can lead to job losses,' Lupo added. 'On top of that, some trade jobs are seasonal, which means that bad weather or off-peak months can dry up construction and maintenance work for several weeks.' But there is one trade job that stands out for its stability amid the chaos: Geotechnical engineers, mine engineers and drilling engineers have the longest median tenure with their employers—2.1 times higher than that of industrial designers, interior designers, PR specialists, technical writers, and web writers, which rank among the shortest. Of course, not everyone is becoming a tradie for the money. Gen Zers previously told Fortune that a key element is having the freedom to be their own boss and not be chained to a desk. But in reality, it might not actually make them happier than a nine-to-five office job. That's because those freedoms come at a cost: long hours and manual work. Another study ranked electricians as the least happy workers of all. According to the research, the physically demanding nature of the job and 40-plus hour workweeks weren't made up for by the just 'decent' salary. Construction workers, warehouse managers, and construction project managers also made the list of unhappiest jobs for having 'unpredictable hours,' topped with their roles being stressful and taxing. Alarmingly, not a single trade job made the list of happiest jobs. Have you gone down the traditional trade jobs route and now regret it? Fortune wants to hear from you. Get in touch: This story was originally featured on
Yahoo
11-06-2025
- Business
- Yahoo
6 ‘Necessities' Millennials Are Spending Money on That Could Harm Their Finances
Millennials have long been known for their willingness to spend money on less traditional things compared to their older counterparts. The generation has re-envisioned what a necessity is and whether they will go into debt to afford it. Be Aware: Read Next: A new study conducted by The Harris Poll on behalf of Intuit Credit Karma indicates that 84% of millennials considered some non-essential items and services to be necessary that they are willing to spend money on regardless of their financial situation, and nearly half of millennials (46%) are willing to take on credit card debt to continue spending on those non-essentials. Nearly 60% also said they viewed spending money on hobbies and interests as a necessity and not a luxury. Unfortunately, some of this spending on these newly-classified necessities may cause problems down the road. Here are six 'necessities' millennials are spending money on that could harm their finances. When surveyed, 37% of millennials said that they considered streaming services, such as Netflix and Hulu, a necessity. Streaming services have grown exponentially over the past decade. Their growing popularity, however, has come with an increase in price. Recently, Forbes noted that 44% of consumers saw an increase in the cost of streaming services, and almost half (49%) carried at least three different subscriptions at once. With these services costing $10 or more each per month, the financial burden can add up quickly. Check Out: Another non-essential that millennials are willing to pay a premium for is grocery delivery. According to the Credit Karma survey, 28% of millennials find grocery delivery services like Instacart and Amazon a necessity. Consumers should beware that the convenience of delivery comes with a price. In addition to delivery fees and monthly membership costs, many grocery delivery providers also markup the actual items. Millennials also said that skincare and beauty are a priority, with 26% responding that they consider the products a necessity. Social media has been a significant authority in determining which non-essential items millennials are willing to pay for. When surveyed, 60% of the generation reported being influenced by social media. It's not just products, though. Twenty percent of millennials reported that skincare and beauty treatments, from manicures and facials to hair appointments, were essentials that they weren't afraid to spend money on. Older generations were less impressed with self-care experiences. Only 11% of Gen Xers and 12% of boomers said that the services were a necessity. Dining out is a luxury that 24% of millennials consider essential, and they are willing to pay to enjoy it regardless of their financial situation. In fact, over half of millennials (51%) said they would rather reduce long-term savings than give up experiences, like eating at a restaurant, that they find important. More than one-fifth of millennials (21%) deem travel a necessity, moving it from its more traditional non-essential category. The generation is much more focused on experiences than their predecessors. According to TLC Worldwide, research indicates that millennials are driving the experience economy, with 75% stating that they prioritize spending on experiences over material goods. Millennials have also prioritized convenience, with 20% responding that they consider food delivery services essential and are willing to spend money on them. However, as with grocery delivery food delivery services, such as UberEats and DoorDash, come with a price. More From GOBankingRates Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why This article originally appeared on 6 'Necessities' Millennials Are Spending Money on That Could Harm Their Finances
