As the overall economic outlook is affected by the conflict in the Middle East, consumers are looking for new ways to economize. One way to cut discretionary spending is to consider a joy-based budget that makes it possible to enjoy favorite activities. Reviewing different family insurance premiums may provide savings. Homebuyers in the Midwest and Sun Belt may have more buying opportunities than they realize.
Home financing
The Midwest and Sun Belt are the best home buyer markets for 2026
Although recent years have been challenging for homebuyers and sellers alike, new opportunities have emerged here. Recently, real estate market Zillow released a report listing the most buyer-friendly housing markets for the year.
These cities and metro areas:
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They may offer affordable options as home values are currently declining but are expected to see increasing values in the coming years.
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Share Affordable, based on the share of income the median earner would pay to purchase a typical home in the area (assuming a 20% down payment).
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HeyProvide more negotiating leverage for buyers. Zillow determined this by reviewing inventory numbers for each city, including days on market and the number of price reductions.
Here are the top ten, in order:
1. Indianapolis, Indiana.
2. Atlanta, Georgia.
3. Charlotte, North Carolina
4. Jacksonville, Florida
5. Oklahoma City, Oklahoma.
6. Memphis, Tenn.
7. Detroit, Michigan.
8. Miami, Florida.
9. Tampa, Florida.
10. Pittsburgh, Pennsylvania
Indianapolis came in first with a median home value of $283,040. The share of median household income needed to pay the average mortgage is 26.9%.
Source: Essence.com
insurance
It’s time to clean your mulch in the spring
You may be busy preparing your taxes or spring cleaning your house for the coming months. However, it is also a good time to review your insurance coverage.
If you were happy with your coverage when you first purchased your policies, you may have thought it was a case of “set it and forget it.” But insurance should always protect you and your family against the worst-case scenarios, which often change.
As you begin to evaluate your coverage levels, it is important to take into account any changes that may have occurred in the past year. Below are some key examples that may affect each of your policies.
Your auto insurance will need a review if you make any major improvements to the vehicle, or if you replace a used car or truck with a new vehicle. You may also have some opportunities to reduce your insurance premiums. For example, your age or the age of your car may now qualify you for a lower rate. If you have teen drivers, their insurance costs will start to decrease when they are in their early to mid-20s. Taking a defensive driving course may also save you money.
Your homeowners insurance coverage can always benefit from an annual review, so you may want to do this before your annual mortgage “anniversary.” If you’ve made any upgrades within the past few months, such as replacing a roof or remodeling a kitchen, this could affect your coverage. Additionally, requesting a quote from other insurance companies may result in better coverage or a lower premium.
Life and health insurance requirements can change for several reasons. For example, if you change jobs or get married, your coverage needs may change — but you may also have new opportunities to save. Welcoming a new baby also means you’ll need to review your coverage.
After completing your annual insurance review, you can look forward to the rest of the year knowing that your family and property are properly protected.
Source: northeast.aaa.com magazine
In the news
Save more, live better with Joy-Based Budgeting
Since about 90% of Americans are cutting back on discretionary spending, this is likely one of your financial strategies. However, you don’t have to give up what you really love to do in your free time. Instead, consider budgeting based on joy.
Here’s how it works: Instead of eliminating all discretionary spending, focus on the experiences that make you happiest. Then, adjust your budget so you can keep track of these things. Or you can reduce expenses in one area of your budget, so that you can still afford your favorite activity.
Another benefit of a hedonic budget is that it can help stop impulse purchases, which can be hugely budget-destroying.
A consumer banking analyst explained how joy-based budgeting works.
“It’s about being intentional with your money, so that you support what truly makes your life better. Instead of cutting out everything, first identify the spending that brings you true happiness — whether that’s experiences, time with loved ones, or meaningful hobbies — and then build your budget around those priorities while continuing to save consistently.”
Joy-based budgeting works in many ways. For example, if having dinner with friends is something you particularly enjoy, you can save by doing more cooking at home. This can increase your joy budget, so you can handle the restaurant tab on occasion.
You can also create a joy budget by identifying what makes you the happiest. Maybe it’s going to the movies, a favorite hobby, or music lessons. Then, after subtracting your monthly living costs, put at least 20% into savings and the rest into your joy budget.
Source: Essence.com
Credit and consumer finance
Debt management: a two-part process
A February forecast from TransUnion, one of the three major credit reporting agencies, predicts that unsecured personal loans will be the main driver of new borrowing this year.
While this type of loan can help pay off existing debt, adjusting current and future spending to avoid new debt can be difficult. One reason for this is that the prices of necessities like groceries continue to rise. the Consumer Price Index for February 2026 It found that food prices rose 3.1% year-over-year, leading to more consumers paying for everyday expenses with credit cards.
This has led to more shoppers turning to balance transfers and personal loans to consolidate and manage their high-interest debt. While this can help eliminate debt faster, it’s only half of the equation. Unless the current debt is due to a temporary situation, such as unemployment, changing spending habits is mandatory.
Credit counselors have found that stress has contributed to overspending over the past years. Other consumers find it difficult to say “no” to ads that encourage them to buy now and pay later. Once people understand the emotions surrounding their spending, they can set realistic expectations to permanently pay off their debt.
Source: cnbc.com
Did you know?
Three expensive myths about downsizing in retirement
Whether you’re just a year or two away from retirement or sooner, you’re probably planning to do some downsizing. For example, you may be planning to sell a four-bedroom family home for something smaller and easier to manage. However, before you start packing your bags, it is wise to look at your future plans first. For example, if you plan to leave the suburbs behind for a popular resort or retirement area, this may affect your costs of living more than you realize.
There are many myths about downsizing and retirement, including these three.
Myth 1. Relocation is mandatory. Although the number of millions of people age 62 and older is expected to shrink over the next decade, about 54% of those who own their homes are staying put. Reasons for this include their fondness for their community, their family ties, and their awareness that moving may mean higher costs of living and taxes.
Myth 2: Downsizing always improves your finances. A paid-off mortgage may lead you to expect a big profit when you sell your home, but that’s not always the case, especially if it hasn’t been updated recently. Another potential problem: affordability of your next home. Housing prices have risen dramatically in the past five years. Recently, Federal Reserve Bank of St. Louis The average home sale price during the fourth quarter of 2025 was estimated at $534,000.
Myth 3. Tiny homes reduce your living expenses. Your destination is just as important as the size of your next home, if not more so. A 600-square-foot apartment in an expensive neighborhood may exceed the price of a 2,000-square-foot home in a less expensive area. Smaller spaces may also make activities such as entertaining difficult. If you already have a retirement destination in mind, you may want to start looking sooner rather than later.
Sources: kiplinger.com
