Financial Foundation Group

10/18/2026

🚨 Scammers are getting more sophisticated, and the financial toll is growing.

Americans reported a record $15.9 billion in scam losses last year, up 25% from the year before. And the real number may be much higher, since many victims never report what happened.

⚠️ The problem is also widespread: 98% of Americans surveyed said they believe scammers have targeted them, and 3 in 10 said they’ve personally lost money or information.

Recovering stolen funds can be difficult, especially when someone is tricked into authorizing a payment. Victims may also be targeted again by criminals claiming they can recover the original loss for a fee.

🔐 If someone contacts you unexpectedly about money, an investment, or recovering funds you’ve already lost, slow down before sending anything. Verify who you’re dealing with through a trusted source, and be especially cautious if there’s pressure to act quickly.


Source:

Virtually every American has been targeted by scammers in some way, exclusive new polling data shows.

10/12/2026

🛠️ The richest person in your town probably isn't a tech founder or someone in finance. It's more likely the dentist running four offices, or the owner of the HVAC company whose trucks are everywhere.

New research from economists Owen Zidar and Eric Zwick, based on IRS and Treasury data, found nearly 5 million U.S. households worth at least $5 million, holding combined wealth more than 13 times that of the Forbes 400.

A few patterns stood out:
➡️Most started their business themselves rather than inheriting it
➡️Most run ordinary, brick-and-mortar businesses rather than tech or finance
➡️Independence mattered more to them early on than getting rich ever did

🌭 Case in point: Dick Portillo started a hot dog stand in 1963 with just $1,100. Decades later, he sold the business he'd built for $1 billion.

Building wealth often looks much more ordinary and attainable than the headlines suggest. If growing or eventually stepping back from a business is part of your picture, that's worth talking through together.


Source:

Getting rich in the U.S. is still possible, but the most common path to wealth doesn't involve working for other people, according to a new book.

10/09/2026

🏦 Bond yields may sound like something only investors need to watch, but they can also show up in everyday financial decisions.

The 10-year Treasury yield recently climbed to 4.78%, its highest level since January 2025. That matters because movements in Treasury yields can influence borrowing costs across the economy.

🏠 Higher yields may contribute to higher rates on mortgages, auto loans, credit cards, and personal loans. They can also have an upside for savers, since rates on high-yield savings accounts and CDs may rise as well.

So when Treasury yields move, the effects can reach well beyond the bond market.

If you’re borrowing or keeping money in interest-bearing accounts, it may be worth paying attention to where rates are heading and how they’re affecting the options available to you.


Source:

The U.S. bond market influences how much American consumers pay for loans and the interest they can earn on their savings accounts.

10/03/2026

A carton of milk 🥛. A set of golf clubs ⛳. A bottle of perfume 🌸. All three just got pricier to send north into Canada. 🍁

Canada's new tariffs on $20 billion in American goods took effect this week, ranging from 15 to 50 percent depending on the product.

It's the latest move in a trade dispute that's dragged on for more than a year between two of the world's largest trading partners.

The ripple effects won't directly affect most household budgets. But they're a reminder that global headlines and everyday costs are more connected than they seem.

That connection, and what it might mean for your own situation, is exactly the kind of thing we're keeping an eye on for you.


Source:

Canada's steep retaliatory tariffs on $20 billion in U.S. goods took effect just after midnight ET on Tuesday, deepening the trade war between the two countries.

09/26/2026

Some hospitals and medical providers are asking patients to pay more before receiving non-emergency care.

The trend comes as deductibles, coinsurance, and other out-of-pocket costs continue to rise.

Traditionally, many patients received bills after treatment. Now, some providers are collecting preservice deposits based on their estimate of what a patient may owe.

A KFF Health News report noted that the average deductible for employer-sponsored family coverage is $3,762 per person. The average deductible for Affordable Care Act marketplace coverage rose 37% this year to $3,786.

For patients, upfront payment requests can create confusion, especially when insurance networks, deductibles, and estimated costs are unclear.

Emergency care has different rules. Hospitals that accept Medicare funding cannot demand upfront payment before stabilizing a patient who arrives at an emergency room.

For non-emergency care, it may be worth asking for an itemized estimate, confirming network status, and checking with the insurance company before making a large payment.


Source:

Hospitals and other medical providers are increasingly asking for payment before providing care, collecting more of what patients might owe.

09/20/2026

U.S. credit card debt is approaching a record high.

Americans’ credit card balances reached $1.26 trillion in the second quarter, rising by $21 billion, according to new data from the Federal Reserve Bank of New York.

That puts credit card debt just below the all-time high of $1.28 trillion set late last year.

Strong consumer spending is one factor behind higher balances. Rising prices for essentials like groceries and gas may also be contributing.

Delinquencies remain a concern. The share of credit card balances more than 90 days delinquent rose from 7.6% to 12.8% from mid-2022 through early 2026.

Total U.S. household debt now stands at $18.8 trillion. Auto loan debt also reached a new high of $1.71 trillion.

For households, rising debt is a reminder that everyday expenses, interest rates, minimum payments, and emergency costs can all affect financial flexibility.


Source:

Americans' credit card debt reached $1.26 trillion, increasing by $21 billion in the second quarter of this year, according to new data.

09/14/2026

Trending Higher

09/11/2026

The Treasury Department is increasing the size of its government debt buybacks amid ongoing pressures in the longer-term bond market.

The department said it will at least double the maximum size of certain buyback operations, from $2 billion to at least $4 billion, targeting the 10- to 20-year and 20- to 30-year portions of the Treasury market.

Following the announcement, the 10-year Treasury yield fell 6 basis points to 4.647%, while the 30-year bond yield fell 9 basis points to 5.196%. Bond prices and yields move in opposite directions.

The move is designed to support liquidity in longer-dated Treasury securities, though economists noted that it does not change the broader fiscal backdrop or the government’s ongoing financing needs.


Source:

The announcement targets the sensitive longer-duration part of the Treasury market.

09/08/2026

Some younger consumers are spending on luxury items even as major milestones feel harder to reach.

An article from The Economic Times explores whether Gen Z spending on items like expensive smartphones, sneakers, and travel may reflect a broader version of the “Lipstick Effect.” 📱👟✈️

The Lipstick Effect describes a pattern where consumers buy smaller luxuries during periods of financial uncertainty, especially when larger purchases feel out of reach.

In this case, the larger purchase is often homeownership.

As housing costs rise, some younger adults may feel that saving for property is increasingly unrealistic. Instead, they may choose purchases that offer more immediate enjoyment, identity, or a sense of progress.

That does not mean every purchase is financially harmful. But it does show how affordability pressures can shape behavior, priorities, and trade-offs.

The broader takeaway: spending decisions often reflect more than impulse. They can also reflect economic realities, delayed milestones, and the ways people look for meaning when traditional markers of success feel further away.


Source:

Financial advisor Prem Soni says Gen Zs spending on Rs 15,000 sneakers, expensive iPhones and foreign holidays may reflect the “Lipstick Effect.” He argues that with homes costing around Rs 3 crore and long-term EMIs, traditional milestones feel increasingly unreachable for young earners. Instea...

09/05/2026

The U.S. economy grew more slowly in the second quarter, while inflation remained above the Federal Reserve’s target.

Gross domestic product increased at a 1.5% annualized rate from April through June, below expectations for 1.8% growth.

The headline number was weaker, but some underlying economic drivers were stronger. Personal spending rose 2.1%, and a key measure of underlying demand increased 3.9%.

At the same time, the Fed’s preferred inflation gauge remained elevated. The personal consumption expenditures price index showed annual inflation at 3.7% in June.

Core PCE, which excludes food and energy, rose 3.3% from a year earlier.

Consumers continued spending, but the personal savings rate fell to 2.7%, its lowest level in four years.

For households and businesses, the broader takeaway is that slower growth, persistent inflation, consumer spending, savings, and interest rate policy are all connected parts of the economic picture.


Source:

While the GDP number was below expectations, the miss appeared to come from a decline in federal government spending and inventories.