Giving thanks for inflation, Paul Mescal and more

November 27, 2024 • Issue #263

Hi y’all —

Happy almost Thanksgiving! I'm writing this from an exit-row seat on a JetBlue flight from New York City to Orlando, where I'll be spending this week's holiday with my family. I'm 36,000 feet in the air, and I gotta say, things don't look quite so bad from up here.

I'm looking forward to Thursday not only because of the food — I swear I could eat an entire apple pie on my own — but also because I like pausing from my busy life to reflect. I'm so grateful for so many things, including Dollar Scholar; it's such a privilege for me to be able to write this newsletter every week.

So before I tuck into my turkey, here's a quick rundown of what I'm thankful for this year…

abating inflation

Although it might not feel like it, inflation is on a pretty steady decline. Thanks in no small part to the Federal Reserve, which has started cutting interest rates in an attempt to make borrowing money cheaper, the consumer price index reached 2.6% last month. That's down from 3.2% in October 2023 and 7.7% in October 2022.

IRS Direct File

The government soft-launched its own free tax-filing service earlier this year, creatively called IRS Direct File. Although residents of only 12 states were able to participate in the pilot, the IRS is now dramatically expanding access.

So far, Alaska, Arizona, California, Connecticut, Florida, Idaho, Kansas, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Washington, Wisconsin and Wyoming have signed on for next year. (That's 24 states!) About 30 million people are expected to be eligible to submit their taxes for free through the IRS Direct File in 2025.

Given the often-predatory industry of tax software — if you haven't read ProPublica's excellent reporting on the issue, go do so immediately — this warms my heart.

Paul Mescal's thighs in Gladiator II

'nuff said.

Be sure to bring up politics at Thanksgiving dinner. It’s going to save you money on Christmas gifts

Goldilocks Windows

As someone who travels a lot, I'm thankful for “Goldilocks Windows,” which are booking periods that tend to come with major flight discounts. (They're named Goldilocks Windows because they're neither too early nor too late — they're juuust right.) If I'm planning a domestic trip, the prime window to book is about one to three months ahead of time; for international trips, it's two to eight months ahead of time. Read more in Issue #201.

wage growth

Wage growth is at 4.6%, according to the Federal Reserve Bank of Atlanta, which means it's outpacing inflation. And additional raises could be on the way: Employers say they intend to increase salary budgets by 3.9% on average next year. That's great, because I need more disposable income so I can buy…

Cretors caramel corn

I think I've eaten three bags of this stuff in the past six weeks. Sweet, crunchy, a little salty: It's the perfect dessert. NOBODY TELL ME THE NUTRITION FACTS.

my metal credit card

As we learned in Issue #225, most credit cards these days are made from PVC because plastic is resistant to water and wear. However, the Chase Sapphire Preferred that I got last year is made of metal. It weighs about 13 grams.

On one hand, I know the metal card is a marketing ploy — Chase wants me to reach for it before other cards so it can maximize the profits it makes off my transactions. (Those interchange fees seriously add up.) But on the other, I feel really cool when I slap my card down on the table at brunch and it makes a metallic clang.

the New York Mets

This year, I threw myself into Mets fandom, and it has been incredibly fun! I love Grimace, "OMG" and Citi Field hotdogs. I ride or die for Francisco Lindor. We might not have won the playoffs, but we sure tried. Catch me in the stands again come 2025.

savings buckets

I absolutely adore my Ally savings buckets, which I've come to see as a crucial tool for achieving my financial goals. On paper, buckets work because of mental accounting, or the behavioral theory that people make decisions about money based on its source or intent. In practice, I like them because they keep me organized and provide peace of mind. When I can assign my dollars purpose, then I can spend them without guilt.

you!

I'm grateful you — yes, you — support my exploits and follow along as I ask experts off-the-wall questions about personal finance. I appreciate your readership, your replies, your questions and your pet photos more than you could ever know.

The bottom line

(but please don't tell me you scrolled past all of my hard work)

I've got a lot to be thankful for.

via Giphy

Smart MONEY MOVE

snag a sweet CD

If you want to grow your money with higher interest rates than traditional savings accounts, and you’re OK with locking up those dollars for a while, a CD (aka certificate of deposit) may be right for you. Economists expect the Fed to cut rates once more this year, so now might be an ideal time to open a CD and boost your savings. With some financial institutions offering up to a 4.3% APY, clicking below to explore your options should be a no-brainer. Go ahead.

Check out Money’s list of the best CDs for 2024.

Receipt of the week

check out this wild celebrity purchase

via Instagram

Actor Cillian Murphy and his wife, artist Yvonne McGuinness, just made an appropriate investment: They bought a 105-year-old movie theater in Ireland. The couple intends to refurbish The Phoenix, which is the only theater on the Dingle peninsula and holds particular significance for Murphy. "My dad saw movies there when he was a young man before me, and we’ve watched many films at The Phoenix with our own kids," he said in a statement. Did someone say Barbenheimer part two?

Internet gold

five things I'm loving online right now

1

Single shoes started going missing recently from a kindergarten class in Japan. After 15 sneakers from 10 different kids were stolen, the police got involved and apprehended the thief: a weasel. “It’s great it turned out not to be a human being,” a local officer told the Associated Press. Although the weasel has not appeared since being caught on camera, the school has installed weasel-thwarting nets across its shoe cubbies.

2

Now I'm thinking about weasels. This was a great breakdown of The Lady With the Ermine, a 15th-century painting by Leonardo da Vinci.

3

OK, onto bats! Did you know humans can learn echolocation? (Me either.) Here's an Atlas Obscura guide to teaching yourself, courtesy of a man who did it himself.

4

I love these "un-useless" inventions that solve everyday problems by Kenji Kawakami, creator of the Chindogu movement.

5

Paris Paloma's new album is very good, in my not-so-humble opinion.

401(k)9 CONTRIBUTION

send me cute pictures of your pets, please

via Brooke Lacey

This is Umma. Umma is resting up to beg for scraps at the table, dreaming of all the financial pawducts that have made her life better this year.

See you next week.

P.S. What are YOU thankful for this year? If you bought a movie theater, what's the first film you would show there? Do you have any good Christmas cookie recipes? Send feedback to julia@money.com, and your reply may appear in a future issue!

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