Your Money Crasher Minute: That’s a lot of Pancakes

Welcome to this week's edition of your Money Crasher Minute Having trouble viewing this email? [Click here]( # In this week’s newsletter: - Why you shouldn’t get a store credit card - TransUnion data breach - A year of free breakfasts - And more [Kelly Ernst headshot] Kelly Ernst Managing Editor Quick Market Price Check Last updated: November 22, 2:30pm EST 34,003.58 S&P 500 (-16.53% YTD) $16,165.40 Bitcoin Price (-66.13% YTD) 7.36% 30-Yr Fixed Mortgage 30-Somethings The average credit card APR topped 19.04% this month, the highest it’s been in about 30 years. But that’s not the only 3-0 hitting consumers hard. Many retail credit cards [have an APR of over 30%](. With the holiday shopping season officially kicking off this Friday, you might be tempted to open a store card for a sign-up promotion (or to help stretch that holiday budget). But unless you can pay off the balance in full, don’t do it. If you’re having trouble affording a gift right now, adding an extra 30% in interest to the cost won’t help.  In Debt? You’re Not Alone Speaking of credit cards, Americans’ total household debt has reached new heights. According to a recent [Federal Reserve Bank of New York report]( credit card balances in Q3 of 2022 were 15% higher than in Q3 of 2021. That’s the largest year-over-year increase in 20 years. To blame for the surge: skyrocketing inflation and the higher prices it’s caused across the board. Here's a closer look at [how average credit card debt breaks down](. Times are tough, so go easy on yourself if your debt has risen lately. There are [ways you can start paying it down]( and get back on track. [cutting up card.jpg]  Once More Unto the Breach Earlier this month, [TransUnion reported a data breach](. The credit reporting agency said "an unauthorized party" accessed consumers’ personal information — names, Social Security numbers, financial account numbers, and driver’s license numbers. TransUnion hasn’t disclosed how many consumers were affected. But if your information was compromised in this breach, you should be receiving a letter from TransUnion with instructions on what to do next. Data breaches are all too common in the financial sector. This year alone, Equifax, Experian, Capital One, JPMorgan Chase, and Crypto.com were among the high-profile companies hit by data breaches. To keep your information safe, [check your credit report]( and bank statements regularly, use strong passwords, and install antivirus software on your computer. [padlocked laptop.jpg] Movin’ on Up As mortgage rates have climbed, the salary you need to buy a home has climbed too. According to [Redfin]( you need to earn $107,281 a year to afford the average U.S. mortgage payment of $2,682. That’s 45.6% more than just one year ago. To put that number into perspective, the median U.S. salary in 2022 is around $55,000. Depending on where you live, houses could be more or less affordable. In the San Francisco, CA area, you need $402,821 a year to afford the average home; in Detroit, MI, you only need $48,435. Of course, there are other factors to consider when deciding where to settle down. In my hometown of Buffalo, NY, a salary of $61,217 seems relatively doable. But you must be OK with occasionally [measuring the snowfall in beer cans](. And Now for Something a Little Lighter... - Buy a Shirt, Get Free Breakfast for a Year. You heard that right. On Black Friday, [Denny’s is selling t-shirts]( with QR codes good for one free Everyday Value Slam every day for a year. There are 150 shirts available at $5.99 a pop, so set your alarm for 12am EST on Nov. 25 and get ready to eat more pancakes than you’ve ever eaten before. - It’s a Major Award! If you’ve ever wanted to own a piece of Christmas history, here’s your chance. The [house from "A Christmas Story"]( is up for sale, along with the rest of the 1.3-acre campus that houses the Christmas Story Museum, the Bumpus House, parking lots, and more. The owner is looking for the right person to sell it to – likely for a bid of $10+ million. In case you’re looking for something to put on your wish list this year… - "Brand New Tesla + Brand New Home & Granny." For those who can only afford $1.8 million, [this home in New Zealand]( could be yours — along with a new Tesla worth $60,000. Sadly, the "granny" part of the offer is a "granny flat," not an actual grandmother. So BYOG (bring your own granny). - People With Too Much Money on Their Hands. A pair of Steve Jobs’ old sandals [sold at auction for $218,000](. The Birkenstocks hail from the 1970s and very much look like used Birkenstocks from the 1970s. You couldn’t pay me to take someone’s 50-year-old footwear, but to each their own.  [Happy Thanksgiving.jpg] Sent to: {EMAIL} [Unsubscribe]( Money Crashers, LLC, 1887 Whitney Mesa Dr #3030, Henderson, NV 89014, United States