good morning! It’s Daniel de Vis with your daily money.
Americans are more concerned about social security, and the Trump administration may be partially responsible.
Two new research shows that Americans are losing faith in the future of the Retirement Trust Fund. Young people have long feared that Social Security would not be there when the time came. But for now, older people have their own concerns.
Tax reductions for that new car loan are not that simple
The new tax cuts on car loan interest are equipped with trunks full of warnings.
How much you make, or how much you make, depends on how much you borrow, the interest rate on the loan, and how much you make now and in the next few years.
Oh, and you need to buy a new car at the final meeting in the US.
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Finally, there is a popular story from 2024. Read it! share!
Large-scale research on financial literacy shows that many American consumers are unable to grasp the basic mathematics of inflation.
The FINRA Investor Education Foundation, a nonprofit in financial education, managed seven question quizzes for 25,500 adults and tested their knowledge about consumer finance. Results: Three in ten test takers missed a simple question about interest rates. Two out of five asked about inflation. Compound interest items have baffled 71% of consumers.
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About daily money
Every day, Daily Money will provide you with the best consumer and financial news from USA Today, breaking complex events, providing you with the TLDR version, and explaining how everything from the Fed rate to bankruptcy will affect you.
Daniel de Vice covers USA Today’s personal finances.
