World News: The Daily Money: Jif peanut butter recalled. Plus, crypto in your college fund?

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Monday, May 23

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Happy Monday, Daily Money readers. Jayme Deerwester back with you as we inch toward the holiday weekend.

Smuckers recalls Jif peanut butter

J.M. Smuckers Co. is recalling many Jif peanut butter products produced at a plant in Lexington, Kentucky, for possible salmonella contamination in response to a multi-state outbreak, according to the Food and Drug Administration and Centers for Disease Control and Prevention.

So far, 14 people in 12 states have reported illnesses connected to the outbreak, the CDC said. Two were hospitalized. All five people who contacted the CDC had reported eating peanut butter, with four of them specifically eating Jif peanut butter before getting ill, the CDC said.

"Epidemiologic evidence indicates that Jif brand peanut butter produced in the J.M. Smucker Company facility located in Lexington, KY, is the likely cause of illnesses in this outbreak," the FDA and CDC said.

The recall impacts Jif's creamy, crunchy and natural peanut butters, both in jar and to-go form, along with other products.

I see a lot of food recalls in this line of work but this one hits close to home – and not just because the products are made about 45 minutes away from me. Creamy Jif is my go-to peanut butter. I love it so much I took the biggest jar they make with me to Europe for my study-abroad in the '90s. When I eventually ran out, I took the train to my brother's army base, hit the PX and restocked.

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Does crypto belong in your college fund?

Every parent knows it's expensive to raise kids. While there's little anyone can do to lower those costs, a couple of fintech companies are offering parents new options to cope with them.

One will offer parents cryptocurrency, with its high risk and potentially high rewards, as an investment for their children's future while another company is launching a cash-back rewards credit card to boost college funds.

UNest focuses on helping parents invest and save for their kids using custodial accounts, which are owned by minors but managed by an adult until the child reaches a certain age. Greenlight's roots are in helping families manage money and teaching kids about finance with educational materials, debit cards and investing apps.

"Last year, we did a survey and asked customers of our app what additional products they wanted to see," said Ksenia Yudina, UNest founder and chief executive. "We asked parents what stocks they wanted to buy right now for the next 10 to 18 years. Most of them said, 'We don't want to buy stocks. We want crypto because we see the asset class has the greatest potential for appreciation over a long-term horizon.'"