Monday, August 23, 2021

The Daily Money: Are Dave Ramsey's tips legit?

In today's Daily Money newsletter, we have insights on Target's Disney Store plans, Fannie Mae and rent payments, and the legitimacy of Dave Ramsey. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Monday, August 23

Good morning, it's Nathan helping you ease into Monday!

🧸 As a kid, I distinctly remember the giant piles of stuffed animals at the Disney Store.

Maybe they'll make a comeback. Target is expanding its Disney Store at Target concept to more than 100 additional locations, making for about 160 in total.

The Disney Store at Target is a dedicated space averaging about 750 square feet and typically located near the chain's kids' clothing and toys. They have music, interactive displays and seating areas to watch Disney movie clips and play games, our Kelly Tyko reports.

💰 The Daily Money is USA TODAY's Monday-through-Friday-morning roundup of all things personal finance, business and tech. If this email was forwarded to you or if you found it online, you can subscribe for free here!

On to our ... 

💡 INSIGHT OF THE DAY: Just 13% of Americans own cryptocurrencies, but among millennials, it's 25%, according to Harris Poll data provided exclusively to USA TODAY. Urbanites are more interested in them than others. About 20% of urbanites own cryptocurrencies, compared with only 8% of rural Americans. This story is the latest in our series on young investors.

⌚ WHAT TO WATCH FOR: Fannie Mae will begin to consider rent payment history in mortgage approval. That's expected to open the door for more people with little credit history to buy homes. Why? Because historically rent payments are usually not included in credit reports. But consumer advocates say a record of making rent payments on time should give lenders faith in people's ability to pay their mortgage on time, as well.

📰 And here are more stories you won't want to miss:

1. So, you got a pay raise? Inflation might've wiped it out, I'm afraid to say.

2. Should you take a pay cut for a better job? Ask yourself these key questions.

3. Auto critic Mark Phelan of the USA TODAY Network's Detroit Free Press had a hard time finding a usable gas can. Here are his tips if you're in need of one.

4. Are Dave Ramsey's personal finance tips sound advice? This columnist argues some of his retirement savings tips should be ignored.

5. Your Apple Watch could save your life. But only if you turn on these features now.

🍏 Does this mean I have to get one now?

--@NathanBomey

Instead of following Dave Ramsey's retirement planning advice blindly, make retirement investing a priority, set realistic expectations for your ROI, and focus on both historic returns and fees when choosing investments.
3 things Dave Ramsey gets wrong about saving for retirement
Financial guru Dave Ramsey's got some great advice about paying back debt. But his advice about retirement planning leaves a lot to be desired.
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