enRICHed: Volume 40
Warning
Scams don’t just affect our grandparents. When I was selling on Facebook marketplace a few weeks ago, I was almost victim to a Zelle scam. Even though Zelle is super legit, the way this guy was trying to use it made my stomach feel weird, and when I googled it, the scam itself came up!!! Our Rich BFF’s podcast this week goes into all things scams - how to recognize them and how to avoid them. She also goes into Ponzi Schemes and MLMs and if you’re like me, you find these fascinating and will consume all content in relation to the topic.
Special shoutout to @toad.and.cake who left a 5 star review last week saying, “I’ve listened to a lot of other financial podcasts and thought ‘what could this one possibly add?’ And the answer is SO MUCH. There is so much in this podcast that I haven’t heard before. I learn something new in every episode.” We love you <3
SAG-AFTRA Joins the Picket Line
The SAG-AFTRA union, which represents TV and movie actors, joined the writers strike this week. Screenwriters have been on strike since May, let’s recap why:
Every 3 years, the East and West branches of the Writers Guild of America negotiate a new contract with the major Hollywood studios. This year, the writers said that their compensation has stagnated in the era of streaming services. The studios disagree. Hence the strike.
Hollywood is now facing its first industry wide shutdown in more than 60 years. All of the Late Night Shows have gone dark, but SAG joining the strike will significantly affect TV and movie pipeline.
In accordance with the strike, SAG members cannot do much of anything. No premieres, interviews, award shows, film festivals or social media promotion until an agreement is reached. This means less money for the studios, for the movies, for the advertisers and more.
HYCU; to any of our BFFs on strike, we are with you! This unfortunate situation is an example of what happens when business changes but contracts don’t. Hopefully the breadth of the strike will encourage Hollywood executives to meet the workers where they’re at, recognizing their value to all things entertainment.
WTF is Barbenheimer?
This Friday is a huge deal for the movie theaters. Barbie and Oppenheimer are both being released, and the Internet has decided that you must go to see both as a double feature. When was the last time you saw 1 movie in a theater let alone 2, that’s why it’s a big deal.
Barbie has been drip-feeding us content for weeks, in anticipation of one of the summer’s biggest blockbusters. After the premiere last week, critics were raving, which grew the hype even more. Then Ryan Gosling released a SONG - it became a must see. The movie is expected to bring in $100 million in the first weekend.
Oppenheimer, a more niche movie that is darker and longer, is anticipated in make about half as much as Barbie. However, AMC said that 20,000 members are planning to see both - so is Barbie helping Oppenheimer succeed? Or vice verse?
HYCU; I personally feel compelled to see Barbie in theaters which is a feeling I do not often have. The hype is real and the promotion has been strong, which isn’t going to happen again while the strike (see above) is in progress. Many super expensive movies have flopped recently, so this Friday is one to watch.
HBD!
Happy birthday from your favorite brands is getting a little less straight forward. Where it used to be free items on the table, brands are pivoting to “loyalty perks.”
Nowadays, you often need to be a part of a brand’s loyalty program to get a birthday reward. Even then, it will be a discount code if you spend X amount, or redeeming points you have previously earned in exchange for a birthday gift.
Wednesday, the Associated Press published 3 significant changes in this realm: Dunkin, Sephora and Red Robin.
Dunkin’s rewards program just got a refresh this fall and now you don’t get a free drink but you do get 3x loyalty points. Sephora now required a $25 minimum purchase to redeem your gift online. And Red Robin’s free burger now must come with a $4.99 minimum purchase, and must be eaten in store.
HYCU; while these adjustments to rewards programs often benefit the company financially, it is off putting to loyal customers who anticipate a free birthday service. Have you noticed any changes in rewards programs that you are a part of? This is why!
BONUS: here are some companies that have great birthday gifts! Starbucks birthday drink, Ulta, Publix (free quart of ice cream), Kohl’s $10 off, J.Crew $10 half birthday gift, Krispy Kreme dozen, 5% discount at Target.
OTC BC
The FDA announced this week that the US is getting its first-ever over-the-counter birth control pill!
The FDA approved Opill, an over 90% effective progestin-only birth control pill, to be sold without prescription. The pill has be available with prescription for 50 years, but is just now being recommended for OTC use.
The pill would be available in store and online starting early 2024. The one thing that remains unclear is the cost: even though the maker of the pill has said they would like to keep it affordable, we don’t necessarily know what affordable means.
HYCU; this is a huge decision from the FDA that will give women and girls in the US access to contraceptive during a time when reproductive healthcare is increasingly difficult to access. Having access up front to birth control can also save women from the costs that come with doctors visits, unwanted pregnancies, and more.
Another Student Loan Update
Last week, we lamented the news that student loan payments would officially begin this fall. However, because the news cycle is unrelenting, we are back with another update!
The Biden administration found a way to relieve 804,000 borrowers of $39 billion in student loan debt. Administrative fixes to existing income-driven repayment plans was their loophole.
Usually, Americans on income-drive repayment plans can receive loan forgiveness if they have been making payments for a certain number of years (20 or 25). Biden’s administration will counted partial and late payments in order to bring more people under the threshold for forgiveness.
HYCU; borrowers who qualify will apparently be notified in the coming days by the Department of Education. The NYTimes did a round up of who is expected to qualify here.
Rich Tip of the Week: Protect Your Finances from Divorce (video link w/ sound)
The Atlantic’s article re: Mattel, the rise of toy inspired plots, and the decrease in creativity is so interesting (you can also listen to it like a podcast episode, which was my preferred option)
Haley Nahman recorded a podcast episode called “the morality of the influencer” about sponcon, etc. Pretty interesting behind the scenes look!
The Tour de France is in full swing. The Hustle covered the history of how it makes money! It’s another one of those sports that is way more nuanced than you think.
