[Post 245] Who Actually Pays For Credit Card Rewards?

Summary

About 90% of all credit card spending is on rewards cards like Delta SkyMiles, Chase Sapphire Preferred or American Express Platinum. And these cards are hugely popular for a reason: you can earn cash back, upgrades on flights and many other perks. In 2019, about $35 billion in rewards was handed out to customers around the country. But how are banks paying for it all? A majority comes from interest earned from low-income consumers who revolve balances on a monthly basis. The rest is from merchant fees and things like annual, over-the-limit or foreign transaction fees. Some economists claim there's an annual redistribution of more than $15 billion from less to more educated, poorer to richer and high to low minority areas - widening existing disparities.

[Post 244] Chinese snap up homes in post-Covid Thailand

Summary

Many Chinese, eager to offset risks after the pandemic, are snapping up second homes overseas and Thailand, with its good international schools and quality medical facilities, is proving an attractive investment. READ MORE: https://str.sg/ioR8

[Post 243] Living On $230K A Year Selling Ice Cream With My Mom | Millennial Money

Summary

Annie Park, 32, makes $230,000 running Sarah's Handmade Ice Cream, an ice cream shop franchise, with her mom in the Washington, D.C. area. The ice cream business brought in $1.86 million in revenue in 2022.

This is an episode of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.

[Post 242] Should Food Delivery Riders Just Get A ‘Real Job’? We React To Viewers’ Comments

Summary

Do delivery riders have it rough trying to earn enough? The two-part #TalkingPoint special on food delivery riders got tonnes of buzz. In this video, host Steven Chia and producer Sara Grosse respond to comments on social media.

[Post 241] Why Inflation Is So Sticky

Summary 

Everything is more expensive. Overall consumer prices are about 13% higher than they were in April 2021 and Americans are feeling the pain. Inflation, or the rate prices are increasing in the general economy, has been a persistent problem the past two years. The Federal Reserve had hoped inflation would normalize as the pandemic’s volatility subsided, but prices have stubbornly stayed well above its 2% goal. Watch the video above to learn why inflation sticks around and what we can do about it. 

[Post 240] What Makes Used Rolex Watches Worth More Than New Ones? | The Economics Of | WSJ

Summary

Rolex is the world’s most popular luxury watch brand, yet it’s not involved in many of its own watch sales. Surprisingly, some used Rolex models cost more than the new ones.

WSJ’s fashion columnist Jacob Gallagher explains how factors like long waitlists and supply chain issues have caused the used watch market to explode in recent years, and how Rolex is trying to get in on the action with its own certified pre-owned watch program.

Is the clock ticking on the used watch market’s popularity?

[Post 239] Living & Dying Alone: The Rise Of Single-Person Households Is Changing Societies | CNA Correspondent

Summary

In Japan, the average household had four members in the 1980s. As of 2020, 38% are single-member households. But the pace of households shrinking to just one person is rising fast. It’s likely to exceed 40% of all households very soon. Michiyo Ishida checks out a new solo dining trend amid the shifting social structure.

In South Korea, the rise of single-person households is also bringing sweeping changes to many sectors, including the funeral industry. Lim Yun Suk finds out why more young Koreans are choosing to stay single, with some even wanting to plan ahead for their funerals.

 

In the United States, Sally Patterson examines the price that solo living carries. Research shows singles in the nation fork out thousands of extra dollars on rent in what’s being called a ‘single’s tax’, as more Americans are unpartnered - meaning neither married nor living with a partner - than ever before.