Financial News You Need to Hear This Week

🔍 Deep Dive: Financial News and Stories This Week

1️⃣ Apple Launches New iPhone 17 and iPhone Air

Apple just unveiled their new iPhone 17 and iPhone Air. Both offer extended battery life, new designs, and upgraded cameras.

But do you actually need it?

This isn’t an excuse to trade in a functioning iPhone simply to have the latest model. Especially if you weren’t considering it until this announcement.

Before you drop $799 on the 17 or $999 on the Air, ask yourself: Did I need a new iPhone before this launched?

If your answer is “no,” don’t buy the new iPhone.

2️⃣ FOMO-Buying a Home

FOMO (fear of missing out) should never drive your real estate decisions.

Unfortunately, it did for Gio Navarro. He went under contract on an Atlanta home in 2022 within 48 hours of seeing it. Now he’s struggling to sell it.

The market was extremely competitive at the time. This made many buyers feel like they had to act fast. Gio purchased quickly, landing a $399,000 home.

He now pays around $2,950 per month between:

• Mortgage

• Home maintenance

• Home insurance

• Utilities

• Lawn care

Tack on $13,000 to repair a sewage issue and Gio admits homeownership isn’t all it’s cracked up to be.

He’s had the home on the market for the last year but hasn’t received a single offer.

What’s the lesson here? Never rush into buying a home. It’s both a financial and lifestyle decision. Make sure it makes sense from both angles before signing on the dotted line.

3️⃣ Refinancing a Car Loan

Experian just released their State of the Automotive Finance Market Report: Q2 2025.

One interesting quote: Borrowers who refinanced [their car loans] through credit unions saw their monthly payment decrease by $87 on average.

That’s $1,044 in savings per year.

If you think you’re overpaying for your car loan and have access to a credit union, it might be worthwhile to explore refinancing.

4️⃣ No Spend September

No-Spend September is picking up on social media. It’s a month-long challenge to spend on only essentials.

Thousands of people have joined in, sharing what they’ve saved so far and how it’s changing their spending habits.

This creator has a free download of a No-Spend Tracker you can fill out as you complete the challenge.

I know we’re already halfway through September, but you can replicate this in October too.

5️⃣ Future of the SAVE Plan for Student Loans

The SAVE Plan is an income-driven repayment plan for federal student loan borrowers. It uses a borrower’s income and family size to determine a monthly payment instead of the interest rate and balance amount.

In August 2024, around 8 million federal student loan borrowers enrolled in the SAVE Plan were put into forbearance. This paused interest and the requirement to make payments on the loan.

Earlier this year, the Trump Administration resumed interest for borrowers on SAVE Plans. However, the loans are still in forbearance, meaning payments still aren’t due.

President Trump wants to repeal the SAVE plan by July 1, 2028. This doesn’t guarantee that the forbearance will last until then.

What should you do if you’re on a SAVE Plan right now?

• Continue making payments on the loan.

• Make extra payments on the loan if you can.

• Check your email for updates from StudentAid.gov.

Put It Into Practice

The fear of missing out is a trend here. We see it in purchasing the new iPhone, a home you’re not ready for, and in discretionary spends.

This week, look at your transactions over the last month. Ask yourself:

• Did I purchase this because I wanted to?

• Did I purchase this because I felt pressured to?

💵 Budget Breakdown: TikTok Shop Creators

Danny Fisher is a TikTok creator who’s posted TikTok Shop content since January. The videos consist of him promoting a specific product and linking to it in the video. He earns a commission when a viewer makes a purchase.

He recently shared how long it took him to hit a $10k month in commissions.

Here’s the breakdown:

He had earned around $2,000 in commissions just 8 days into September. (His earnings are sent directly to his agency, hence why it says $0 commission in this screenshot.)

Is this something you would try as a side hustle?

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