⛽ Pain at the pump! Iran war hits your wallet

As the Iran war continues, energy prices are soaring. Despite concerns of inflation and economic uncertainty, the Federal Reserve held interest rates steady this week.

So far, global investors are reluctant to throw in the towel on stocks and bonds, though.

How is global chaos impacting you? Have you made any money moves – big or small – in recent weeks? Are you rethinking travel plans? If so, I want to hear about it.

Email me at [email protected].

Experts say Americans face long-term pain when it comes to energy prices.

"It's the most in-your-face reminder of affordability concerns, and it's almost impossible to convince voters of some kind of contextual case that outweighs their emotional reaction," says Chris Borick, a pollster and political science professor at Muhlenberg College in Pennsylvania.

Oil prices have surged as the Iran conflict disrupted global supply. U.S. crude topped $100 a barrel for the first time since the 2022 Russia-Ukraine shock. U.S. diesel climbed above $5 a gallon, its highest level since late 2022. And the average price of gas at the pump is $3.79 per gallon in the U.S., up from $2.92 a month ago.

If you drive your car a lot, it's not easy to cut fuel costs. Experts recommend keeping your tires inflated, using cruise control (which is my favorite car feature!) and removing excess weight. 

Are you making any lifestyle changes to cut down on the price of fuel? Let me know at [email protected].

Is cautious investing the new edge? With Middle East tensions shaking global markets, dividend ETFs are back in the spotlight. Mike Khouw from YieldMax ETFs highlights their appeal – stable, cash-rich companies that deliver consistent payouts and offer a rare steady hand when volatility takes over.

Watch the interview here.

Boston-based financial analyst Ryan Lowe in Rome. Courtesy Ryan Lowe/Handout via REUTERS

This makes me happy!

Gen Z and millennial savers have started contributing to their workplace retirement plans at ages 23 and 28, respectively — nearly a decade earlier than Gen Xers and boomers, according to a 2025 Nationwide report. That preparation is paying off: About half of Gen Z are on track to maintain their standard of living in retirement, according to Vanguard's 2025 Retirement Outlook report.

Shai Gothreau, the founder and financial planner at Infinity Financial Services, says the key for young people is to build a strong financial foundation with assets that compound over time. That starts with the basics: understanding your cash flow, building an emergency fund, keeping debt low and managing lifestyle expenses.

Here is how one 26-year-old is prepping for an early retirement.

Are you a younger reader of this newsletter? Are you saving for retirement? Why or why not? Write to me at [email protected]. 

And for subscribers of all ages: I love retirement questions! So send them my way.

Gabriella Levinson, a 25-year-old social media specialist. Courtesy Gabriella Levinson/Handout via REUTERS

To cope with the high cost of living in big cities, young people are turning to their wardrobes to make extra money.

Approximately 34% of Gen Z shoppers used an online rental service in the past year, according to an Industry Research Online Clothing Rental Market report. Indeed, Brian McMahon, the CEO and co-founder of the New York-based reselling app Pickle, tells Reuters that Gen Z and millennials make up 60% and 40% of its hundreds of thousands of users to date, respectively, with top lenders earning roughly $5,700 per month.

Hanna Horvath, a New York-based certified financial planner, says renting can be a financially smart move. "Maybe you're going to a wedding and you need to rent a dress and you're going to spend $500 on the dress and you can rent it for $100," she says. 

Have you rented out your clothes or tried a clothing subscription?  (I've used Rent the Runway for black-tie events a few times.)

Let me know about your experience: [email protected].

I have lots of personal finance ideas, but the very best stories come from readers!

What personal finance questions do you have about saving, spending, healthcare, credit and more? Write to me at [email protected].

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