Finance
How to overcome financial stress in 2024
Frugal influencers go viral for their financial tips
Frugal living has gone viral on TikTok. USA TODAY’s Betty Lin-Fisher spoke with a financial planner who provided practical tips about saving money.
The week at a glance
If you’re tired of hearing about inflation, interest rates and the economy without understanding anyone explaining what it actually means for your bills, this week’s lineup is worth a quick look. New data coming this week brings three big questions into focus over the next few days:
- How long will interest rates stay this high?
- Are prices heating up again behind the scenes?
- How are regular people feeling about their finances and the economy?
Those answers will could help decide whether you need to tighten your budget, speed up debt payoff, or simply stay the course for the foreseeable future.
Key economic reports to watch — and why they matter
Think of this week’s data as a checkup on both prices and mood. Here’s what you need to know.
Consumer Price Index
The first report to be aware of this week looks at what you pay: how prices are changing on things like groceries, gas, rent and other everyday costs. If it shows prices still rising faster than expected, it means your paycheck may not stretch as far. The CPI for May 2026 is scheduled to be released on Wednesday, June 10.
Producer Price Index
The second looks at what companies pay. If their costs rise, they often pass that along to you in the form of higher prices at the store, the pump, or on your monthly bills. The PPI for May 2026 is scheduled to be released on Thursday, June 11.
Consumer sentiment survey
The third asks people how they feel about their finances and the economy. When the mood is gloomy, people tend to cut back on travel, dining out and big purchases. Expect that to surface on Friday, June 12.
Big picture, these numbers all feed into the same question you probably care about most: How long until borrowing money gets cheaper again?
What’s important to remember is that the Federal Reserve is watching all of this to decide when to finally start cutting interest rates. That decision hits you through:
- Credit‑card rates
- Car and personal loans
- Mortgage rates
- What you earn on savings
What this means for your money right now
Here’s a straightforward way to break it all down.
The Consumer Price Index and your everyday costs
If the CPI report shows that prices rose more than expected, it’s a sign that:
- Everyday costs are still climbing.
- It’s less likely that borrowing costs (like credit‑card, car loan or mortgage rates) will come down soon.
- You may keep feeling that “everything is still expensive,” even if inflation isn’t as high as a couple of years ago.
If the CPI reflects that prices are rising more slowly, that’s a win, even if it doesn’t feel dramatic. It makes it more likely that:
- Price hikes start to slow, especially on big categories like food, energy and shelter.
- The Fed feels more comfortable cutting interest rates later this year or next.
- Over time, some relief shows up on mortgage, auto loan and card rates.
What you can do now
Review your top five monthly expenses and see where you can trim them.
If inflation looks sticky, focus on essentials: Plan meals, compare prices, and look for cheaper swaps on groceries, gas and insurance. If inflation cools, resist the urge to celebrate by overspending. Instead, use any breathing room to pay down debt or rebuild savings.
The Producer Price Index and your monthly bills
If the PPI comes in hot — meaning companies are paying more again — it’s a sign that:
If the report comes in cooler — meaning costs are stabilizing or falling — that’s a small victory for your budget. It doesn’t mean prices suddenly fall, but it makes it more likely that:
- Price hikes slow down.
- The Fed feels more comfortable cutting rates later this year or next.
- Some relief eventually shows up on loan and card rates.
What you can do now
Pick one bill to actively push back on this week: insurance, phone plan, internet or streaming. Call, negotiate or cancel.
Watch for creative price changes — smaller packages, higher fees — and swap to store brands or alternatives when it makes sense.
Americans’ feelings affect the economy
The consumer sentiment survey is about job security, big purchases and vibes — and those vibes matter. When people feel down about the economy:
- They delay big purchases like cars and homes.
- They cut back on trips, concerts and dining out.
- They may build up savings out of fear, if they can.
When people feel better:
- They’re more willing to spend and take on big commitments.
- Companies see that and may hire more or feel safer giving raises.
What you can do now
If this week’s consumer sentiment survey shows people feel even worse than they did recently, it won’t change your paycheck overnight. But it’s a reminder to be ready. Have a small emergency fund if you can, and know which expenses you’d cut first if money got tight. Stay realistic about big purchases; you might want a bigger cushion than usual.
If the mood improves, that’s a good sign for job security and pay. But it doesn’t mean you should throw the budget out the window.
3 smart money moves to make this week
No matter what the numbers say, you can use this week’s reports as a reminder to tune up your finances. Here are three practical moves you can knock out in a day or two, according to experts.
1. Give your highest‑interest debt a little extra love
If you carry a credit‑card balance, this is probably where high interest rates hurt most. Log into your accounts and sort by interest rate. Pick the one with the highest rate and send one extra payment, even if it’s small. If you’ve been coasting on minimums, bump one payment by even $20 or $30 this month. You can’t control when the Fed finally cuts rates, but you can control how long you carry expensive debt.
2. Make your savings actually earn something
If you’ve got cash sitting in a checking account or an old, low‑rate savings account, now’s the time to fix that.
Check the interest rate on your current savings. If it’s close to zero, consider opening a high‑yield savings account with a better rate. Move the cash you don’t need for bills into that higher‑rate account. Higher interest rates are painful on debt, but they’re finally paying savers more. Make sure you’re getting your share.
3. Pressure‑test your budget
Use this week’s headlines as a nudge to stress‑test your budget. Ask yourself:
- If my rent or mortgage went up a bit, where would the money come from?
- If interest rates stay high for another year, can I still hit my goals?
- If my job got shakier, what’s the first expense I’d cut?
You don’t need a 20‑tab spreadsheet. Even a quick list of “must keep” and “easy to cut” expenses can make you feel more in control.
Bottom line: High rates may stick around
While you can’t control the numbers, you can still chip away at high‑interest debt, make your savings work harder, and make a simple plan for your biggest bills. If you treat each report as a reminder to do one small money task — not an excuse to panic — you’ll come out of this high‑rate stretch in better shape than most.
This story was created with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. Learn more.
Nvidia (NVDA) stock has clearly been on every investor’s radar over the past three years.
However, the market’s now moved beyond the usual demand discussions and is now fixated on its tremendous runway.
That changes the dynamic in a big way and will shape the stock’s long-term trajectory, especially since it leaves little room for disappointment.
For context, if you’d invested $10,000 in Nvidia stock and left it for three years, you’d be sitting at a jaw-dropping $52,300.
Nevertheless, a ton of future growth is already priced into the stock, and investors buying Nvidia today are paying roughly 35 times forward non-GAAP earnings, according to Seeking Alpha.
Bank of America analysts just had a fresh read on that opportunity after hosting Nvidia CFO Colette Kress at its Global Technology Conference.
Moreover, Nvidia investor-relations executive Stewart Stecker gave analysts a look at how the tech giant is thinking about demand, supply, and the next product cycle.
For perspective, in one of his recent posts, TheStreet’s resident tech expert and reporter Vuk Zdinjak broke down the AI giant’s biggest announcements from the GTC Taipei event.
During the event, Nvidia confirmed that its new Vera Rubin AI platform has entered full production, backed by hundreds of partners helping ramp up manufacturing across the globe.
Additionally, the RTX Spark was introduced, a new superchip built for Windows PCs, that can efficiently run AI agents and the latest AI models locally.
BofA analysts now view Nvidia as more than just a leader in GPUs.
They paint a picture of a uniquely diversified company, powered by a full-stack approach that continues to widen its competitive edge as AI use cases evolve
Moreover, after sitting down with management, BofA analysts believe the growth runway is expanding.
That compelled the firm to effectively reset its expectations on the stock.
Wall Street price targets for Nvidia stock
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Morgan Stanley set a $288 price target on Nvidia stock. .
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Bank of America set a $350 price target on Nvidia stock. .
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UBS set a $280 price target on Nvidia stock. .
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JPMorgan set a $280 price target on Nvidia stock. .
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Goldman Sachs set a $285 price target on Nvidia stock. .
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Cantor Fitzgerald set a $350 price target on Nvidia stock.
Source: MarketBeat.
Bank of America sees Nvidia’s AI runway getting even wider
As mentioned earlier, BofA analysts feel Nvidia is far from being just a GPU story.
More Nvidia:
Finance
Billionaires Elon Musk and Mark Zuckerberg used mortgages to buy multimillion-dollar mansions. Here’s why that’s a savvy financial decision | Fortune
Even the world’s most affluent people sometimes need a mortgage.
Elon Musk is the world’s richest man, on track to become the first-ever trillionaire (or may already be one), but he’s done one thing most average Americans have to do: take out a mortgage.
The Tesla CEO has taken out several mega mortgages, including $61 million from Morgan Stanley, on five properties in California, according to the Los Angeles Times. That’s barely a drop in the bucket of his now-$703 billion net worth, so it could be difficult to understand why he’d borrow tens of millions of dollars to buy real estate.
But financial experts say taking out a mortgage—even when you could easily pay cash—can actually be a smart wealth strategy.
Why wealthy buyers still take out mortgages
One of the main reasons is that most of the wealth held by UHNW people is tied up in investments, stocks, and bonds, and they don’t keep as much liquid cash on hand.
“Ultrahigh-net-worth individuals think differently about liquidity and leverage,” Miltiadis Kastanis, executive director of sales at Compass, told Fortune. “They’d rather keep their money working for them in investments, businesses—or even art—rather than tying it all up in one property.”
Meta CEO Mark Zuckerberg, the world’s seventh-richest man, has also used mortgages to his advantage. In 2012, Zuckerberg refinanced his Palo Alto home with a 30-year, 1.05% adjustable-rate mortgage, according to CNBC. With such a low rate, the mortgage cost him practically nothing, so it didn’t make sense to have nearly $6 million tied up in a home. Plus, borrowing during the era of ultralow interest rates in the 2010s was especially attractive. Many wealthy buyers locked in mortgages at a much lower rate than today’s.
“If they believe their investments will yield a greater return than the interest they’re paying on a mortgage, it makes more sense to finance the property,” Kastanis added. “It’s less about the cost of the loan itself and more about optimizing where their money is placed.”
Mortgage interest can also be tax deductible on loans up to $750,000 for those who itemize when filing their taxes. While Zuckerberg’s mortgage was more than that, he can likely deduct at least part of his mortgage interest, which further reduces borrowing costs.
“Mortgages also allow for tax optimization in some jurisdictions, as interest payments may be deductible,” Islay Robinson, founder and CEO of mortgage brokerage Enness Global, told Fortune. “And in high-inflation environments, the value of money erodes over time, making it advantageous to borrow now and repay later.”
Celebrities use the same strategy
Many celebrities and wealthy buyers take the same approach.
Take Paris Hilton, who took out a mortgage on the $63 million mansion she bought from Mark Wahlberg in Beverly Hills. Hilton is estimated to be worth between $300 million and $400 million.
What’s even more interesting is that she and her husband, Carter Reum, reportedly took out the loan after they had already bought the 12-bed, 20-bath home, which shows a $43.75 million mortgage with JPMorgan Chase at an interest rate of 5.25%.
“It surprises many people, but it’s actually quite common for the mega-wealthy to take out mortgages—even when they could write a check for the full purchase price,” Evan Harlow, real estate agent at Maui Elite Property, previously told Fortune.
Tax and inflation advantages of taking out a mortgage
Another reason ultrawealthy buyers borrow rather than pay cash is that they often take out loans backed by their investment portfolios. Known as securities-based lending, these loans allow clients to borrow against stocks or other assets without selling them and triggering capital gains taxes. Large banks often promote these types of loans to wealthy clients.
“Rather than selling your public market investments to raise money, borrowing against your assets can allow you to stay the course on your investments, defer taxes, and free up money for other opportunities,” according to J.P. Morgan. “It’s a way to tap into the value of what you own while keeping your financial plans intact.”
Because borrowed money is not treated as taxable income under U.S. law, wealthy individuals can finance spending by taking loans against their assets without triggering income taxes. Analysts often describe the practice as “buy, borrow, die”: accumulate appreciating investments, borrow against them to fund consumption, and ultimately pass those assets to heirs with a stepped-up basis that largely eliminates the accumulated capital gains tax.
What everyday buyers can learn
For billionaires and everyday buyers alike, the decision ultimately comes down to how they want their money working. Is it better to lock it into a house—or invest elsewhere?
“The takeaway for the average buyer isn’t to mimic their precise approach, but to understand the principle,” Harlow said. “Sometimes the smartest financial move isn’t paying everything off, but keeping your money flexible and working for you.”
A version of this story was originally published on Fortune.com on March 9, 2026.
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