Author: Money Mechanics

Key Takeaways Generation X carries the largest amount of credit card debt in the U.S., followed by millennials and then baby boomers.Credit card balances have spiked across most age groups since 2021, presumably because of higher borrowing costs and higher costs of living.The best way to use credit cards is to pay off balances before interest is applied. Average Credit Card Debt by Generation Credit card debt in the U.S. varies by age group. According to research from Experian, the average 2025 balance is as follows for each generation: As you can see, credit card debt is lowest among the…

Stocks were choppy Thursday as the government shutdown continued for a second straight day, with no sign of resolution in sight. Still, the three main indexes managed new record closing highs thanks to strength in the technology sector.At the close, the tech-heavy Nasdaq Composite was up 0.4% to 22,844, the broader S&P 500 had gained 0.06% to 6,715, and the blue-chip Dow Jones Industrial Average was 0.2% higher at 46,519.Technology was one of just three S&P 500 sectors that advanced Thursday, with its gains supported by several mega-cap semiconductor stocks. On Wednesday, OpenAI said it inked deals with South Korea’s…

The customs duties data for the United States was recently updated, and we can assess the “success” of Trump 2.0’s tariff policies so far. On an annualised run rate, customs duties were 0.88% of GDP in the second quarter (the latest monthly figure Treasury I saw was around $350 billion annualised versus the $267 billion BEA second quarter figure).The rise of tariff revenue is rapid, but the magnitude is relatively small so far. As such, it is not entirely surprising that there has not been a massive jump in the CPI — the various climbdowns and exceptions means that the…

YouTube has become the biggest platform out there, offering tons of opportunities for creators to earn a living. Back in June, the company reported that its creative ecosystem added over $55 billion to the U.S. GDP and created more than 490,000 full-time jobs. However, many YouTubers have reduced their reliance on ad revenue and brand deals. There are several reasons for this shift. First, ad revenue can be quite unpredictable. With YouTube continually updating its policies, some creators may find it challenging to secure ads for their videos, which can negatively impact their earnings. Additionally, they’ve realized that income from…

Key Takeaways Shares of Tesla retreated Thursday even after the company turned in third-quarter deliveries that came in stronger than Wall Street anticipated. But looking back, investors have been baking all kinds of optimism into Tesla’s valuation lately; the EV maker’s shares outperformed the rest of the Magnificent Seven in the third quarter. Tesla’s stock isn’t having a big day today. Given its recent performance, it can probably be excused. Shares of the Magnificent Seven stock and electric vehicle maker were down about 3% in recent trading as the broader tech sector rose, and after reporting third-quarter deliveries that, at…

KEY TAKEAWAYS Berkshire Hathaway has struck a $9.7 billion all-cash deal to buy OxyChem, the petrochemical division of Occidental Petroleum, in the largest acquisition by Warren Buffett’s conglomerate since 2022.Berkshire Hathaway has been focused on selling stakes and growing its cash pile rather than big-ticket purchases in recent years. Berkshire Hathaway (BRK.A, BRK.B) has struck a $9.7 billion all-cash deal to buy the petrochemical division of Occidental Petroleum (OXY), in the largest acquisition by Warren Buffett’s conglomerate since 2022. The two companies announced the transaction by Berkshire Hathaway for OxyChem early Thursday. Berkshire is already the largest shareholder in Occidental,…

ETF Market Expansion in North AmericaU.S.-listed Exchange Traded Funds (ETFs) account for 35% of total U.S. fund Assets Under Management (AUM) as of August 2025, illustrating a steady increase from 15% in 2014 and highlighting a broader shift toward ETFs for both tactical and strategic asset allocation. The AUM in both U.S. and Canadian markets has expanded rapidly, with a Compound Annual Growth Rate (CAGR) of approximately 24% over the past three years. Despite a brief decline in 2022, the overall trajectory remains upward, culminating in record highs by 2025 — $12.2 trillion USD in the U.S. and $0.5 trillion…

Key Takeaways Tesla CEO Elon Musk, the richest person in the world, saw his net worth surpass $500 billion in October 2025. He is the first person to hit that milestone.Musk is Tesla’s largest shareholder, with 19.7% of the company’s equity as of August, 2025. Rising Tesla share prices fueled Musk’s record net worth.A new proposed pay package, that could grant Musk additional Tesla shares, could push his net worth over $1 trillion. The world’s richest man just got richer. Elon Musk became the first person with a net worth of $500 billion in October 2025, according to Forbes. Rising…

Key Takeaways There are about 20 million bitcoins in circulation, with more being mined every day.Blockchain data shows that there are just under 1 million wallet addresses that hold one full bitcoin.Many large holders, such as cryptocurrency exchanges, hold their bitcoin across multiple wallets, which puts the estimate for individual owners of at least one bitcoin closer to 800,000. The price of bitcoin has stayed largely above the $100,000 mark for more than four months after a dip earlier this year, boosting the value of the almost 1 million blockchain wallet addresses that hold at least one whole bitcoin. How…

The market for initial public offerings (IPOs) has been red-hot in recent months, bouncing back after a spring freeze sparked by uncertainty over President Donald Trump’s tariff policies.In the third quarter, there were 64 IPOs that raised a combined $15.3 billion. According to Renaissance Capital, this marked the biggest quarter for new offerings since 2021.”IPOs delayed by earlier macro headwinds were revived or even accelerated to take advantage of surging demand for new issues, resulting in a steady pickup through July, a more-active-than-usual August, and more robust deal flow in September,” wrote Renaissance Capital in its Q3 review (PDF). From…