There’s a 15-digit number attached to your specific phone. Here’s why it matters and how to find it.
December 28, 2023 | Read Online | | | | Advertisement | | | Americans are hooked on “buy now, pay later” this holiday season. Find out how many of us are turning to BNPL, and what Clark thinks about it, later in this email. | | 💵 Today’s Top Stories | | | There’s a 15-digit number attached to your specific phone. Here’s why it matters and how to find it. Read more. |
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| | | Since Google shuttered its unlimited photo storage program, people have scrambled to find free or cheap ways to store their images. The best option may not be what you’d anticipate. Read more. |
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| | | Employers will send out W-2s soon. It’s the perfect time to get a head start on tax prep. Here’s what you can do right now. Read more. |
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| | | LifeLock is a household name with consistent advertising built around protecting you from identity theft. But it’s a waste of money, Clark declares. Here’s what you should do instead. Read more. |
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| | 💵 Clark: Just Say “No” To ‘Buy Now, Pay Later’ | “Buy now, pay later” (BNPL) is a catchy marketing concept. It’s especially tempting during the holiday season. | You could pay $500 for this new flat-screen TV. Or you could pay $125 today – and three more times in the coming months. Pay it all on time and you’re getting an interest-free loan. | The BNPL market exploded in the U.S. in the early 2020s. | “Because of human behavior and psychology, this is going to continue to grow like wildfire,” Clark said at the time. | “And people are going to use this by the many hundreds of billions of dollars. But it doesn’t mean they should be doing it and that it’s a good idea. Because it’s not.” | A surge in savings rates during the onset of COVID-19 led to an eventual shrinking of the BNPL market as Americans temporarily acted more conservatively with their discretionary income. | That’s out the window right now. An estimated 1 in 5 Americans were expected to use BNPL to buy holiday gifts. | Walmart just started offering BNPL at self-checkout kiosks. Americans spent nearly $1 billion via BNPL on Cyber Monday alone this year, a major record. | With credit card debt topping $1 trillion, loan payments demanding much higher interest across the board and years of inflation exceeding the Fed’s typical 2% target, the ratio of cash on hand to expenses isn’t great for many of us. | Before you become part of the statistics, learn more about why Clark doesn’t like buy now, pay later. | | 📊 Stat of the Day | 🏠️ 58: The median age for repeat home buyers in 2023. That’s up from 36 years old in 1981. There’s a growing gap between first-time buyers (35) and repeat buyers (58). Older buyers may be able to sell their existing homes to afford new purchases while avoiding higher mortgage interest rates. |
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| | 💰️ Deal Alert: Today’s Top Deals | | | | | 🎙️ Podcast | | Prevent Hotel Room Break-Ins |
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| It’s become easy for burglary rings to break into hotel rooms, but there’s also an easy way to protect yourself. | | | ☎️ 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. | | Advertisement | | | | | |
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