ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money, Friday consumer edition. |
Americans are socking away less of their paychecks each month so they have more cash to spend, Paul Davidson reports. |
The strategy has supported their purchases, and the economy, in recent months, but it's bound to run out of steam. And weaker consumer spending could lead to bad things. | Sophia Castiblanco, a social media influencer from Bloomington, IL, shares investing tips for teens. Sophia Castiblanco |
Teen says shrewd investments got her a Tesla |
A teen from Illinois is speaking out on the importance of early investing after she said smart financial choices allowed her to purchase her first car, a Tesla, at just 17 years old, Emilee Coblentz reports. |
Sophia Castiblanco, now a junior in high school, started making money as a social media influencer at age 14, mostly producing lifestyle content like self-care tutorials showcasing her favorite products and purchases. |
Upon witnessing her success, Castiblanco's parents encouraged her to invest in Vanguard and Berkshire Hathaway index funds to start building long-term wealth. The teen also chose a couple of her favorite companies to purchase stock in, starting with Tesla and Apple. Long story short: It paid off. |
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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. |
Daniel de Visé covers personal finance for USA Today. | | | | Americans are spending more and saving less. Forecasters worry that could tip the economy into recession. | | | |  | A teen from Illinois is speaking out on the importance of early investing after she said smart investments helped her buy a Tesla. | | | | More than 100,000 bottles of Heritage Store Hydrogen Peroxide Mouthwash in the flavors Wintermint and Eucalyptus Mint were recalled over poison risks. | | | | The U.S. Postal Service's newest stamp design features a manatee. The "Save Manatees" stamp will be available for purchase on Manatee Appreciation Day. | | | | With spending limits, parents sharing an account with their child can set a monthly budget for their teens for both food and rides. | | | | Some will claim a $145m settlement | | | | Hagen Berman announced that eligible Kia and Hyundai owners will be able to submit a claim next week to receive a piece of a $145 million settlement. | | | | Hoping to capitalize on backlash dealt to rival food chain Wendy's, Burger King is offering customers a free Whopper with a purchase of $3 or more. | | | | Panera Bread has agreed to pay $2 million to settle a class action lawsuit accusing it of charging hidden fees for delivery orders. | | | | Sen. Bob Casey, D-Pa., introduced a bill to fight shrinkflation of household consumer goods that American families routinely purchase. | | | | |  | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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