9 ways to pay down credit card debt

The Vibes They Are Bad.

In my nearly 20-year career, I’ve been laid off three times. The first one blindsided me. I was in my 20s, at a job I loved, and overnight, I went from “part of the team” to locked out of my email. The group chats kept going — just without me. The last time was a few years ago. Still unsettling, but I had a different perspective and knew that my career wasn’t over.

These days, it feels like employers just can’t get enough of laying people off. DOGE, overseen by Elon Musk, is taking a weedwacker to the federal workforce, and the private sector seems to be eyeing this with interest. 

Meta is laying off "low performers" a designation that should be super-helpful when those people apply for new jobs. JPMorgan Chase, Chevron, Estée Lauder, Workday, Southwest, Starbucks, and others have all recently announced that significant layoffs are either here or on the way. 

People aren’t going quietly. Federal workers are speaking up on social media. Meta’s so-called “low performers” are pushing back on LinkedIn. These viral posts are a reminder that layoffs have nothing to do with a person's talent or worth. They’re business decisions –– often made by people with far more job security. 

Feeling nervous? That's normal. The vibes are bad out there, but new data from a firm that helps laid-off employees find jobs shows that last month was “the lowest January job cut total since 2022.” All to say, keep perspective and be prepared for anything. 

That means: Get serious about your emergency fund. Keep your LinkedIn fresh. Stay connected to your network. And if you’re in a position to help someone who’s been let go, do it.

— Open to Talk With Anyone Who’s Open to Work, Anna Davies / Writer / New York City

Read More

• The Company That Accidentally Sent a Duck Cartoon to Laid-Off Workers

• My Company Broke My Heart When I Got Laid Off. Then I Got on Glassdoor

• How Many Federal Employees Have Been Fired?

• Will IRS Layoffs Affect Your 2024 Tax Return?

Americans now hold a record $ 1.2 trillion in credit card debt. If you've been eyeing your balance with increasing anxiety, here are nine ways to pay down your debts quickly.

Possible auto tariffs could make a new car more expensive (we’ll get to that in a bit). If you already own, you’ll want to keep it in good condition. Here are five ways to get free maintenance. 

“LinkedIn envy” is sweeping Gen Z … but millennials will recognize it as good old-fashioned Instagram envy with a resume.

It’s not super clear these days which 20-something DOGE engineers do or don’t have access to our taxpayer data. This is your cue to back up your financial records.

Should you quit your job? Should you get bangs? Should you outsource your decisions for $247?

Inflation could make international travel cheaper. Related: If you’re wondering whether to chase airline status or be a free agent, The Points Guy has a take.

The Tariffs are Coming. Maybe.

President Trump ran his campaign promising tariffs, and he seems excited to deliver. The “what” and “when” are a moving target, but here’s what might be coming soon:

🥑 March 4: 25% on most imports from Canada and Mexico (such as car parts, home construction materials, avocados, and much more)

🍳 March 12: 25% on steel and aluminum (again with the car parts, and also construction materials, cookware, etc)

🚗 April 2: About 25% on (you guessed it) cars

While prices may not rise immediately, experts anticipate that if tariffs hold for more than a few months, we'll all see a hit to our wallets. 

Here are some things you can do to prep:

• Buy goods now. If you’re in the market for a larger purchase, such as electronics or a car, it may be a good idea to kick off your search sooner rather than later.

• Make sure your emergency fund is healthy. This can give you some flexibility for unexpected price increases if, say, you spill coffee on your keyboard sometime this fall. 

• Anticipate paying more for holiday 2025. If prices do increase in summer and fall, you could end up paying more for holiday gifts than you did last year. It can’t hurt to bucket some of your savings for that possibility.

I’m ready to buy a house on my own. The plan is for my longtime boyfriend to live with me, and split the costs 50/50 (the mortgage will be in only my name, and the down payment is all me). We already live together, and he’s reliable about paying rent. But overall, he's pretty terrible with money.

I was told to have a tenant contract with him, but I don’t know how to approach that logistically … or how to explain it to him tactfully. How can I protect myself AND handle this dynamic? —  Just a Girl, Standing in Front of a Boy, Asking Him to Sign a Tenant Agreement

FEATURED EXPERT:

Heather Boneparth

Lawyer and cocreator of The Joint Account, a newsletter helping couples communicate better about money

When you bring an asset into the equation of a long-term relationship without the legal protections of being married, you’re right to recognize the rules are a bit different. You will own the home as an individual, so you need to be able to afford the home on your own. That means being able to handle the down payment, monthly mortgage payments, closing costs, and monthly service and maintenance costs, while still having a cash reserve for incidentals. No matter how rock solid your relationship feels, this is a huge step for you in your financial life, and you don’t want the outcome tethered to your boyfriend when you’re the one making big moves.

You’re also right to think you should have some sort of rental agreement in place. Tenancy laws vary by state, but I’d want to see it laid out that: you own the property; he is living there at your discretion in exchange for a monthly payment; when those payments are due; how (and from where) they should be paid; and assurances he will maintain the property in good condition. Most importantly, you need to include a framework for what happens if things don’t work out.

I wouldn’t go much further than that. You want to protect yourself, but you don’t want to turn this into a transactional experience that erodes the mutual trust you’ve built over time. Practically speaking, you’re probably not going to enforce the agreement if you’re still together. Would you really take your boyfriend to small claims court or evict him for violating the terms? I doubt it. The purpose would be for you to have the awkward conversations up front — “set and forget” your expectations around how he contributes — so that they don’t bleed into your daily lives together. Approach the subject with that as the explanation. Of course, the agreement would serve the purpose of protecting you, but it can help protect your relationship, too.

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What agreement would you have in place if you invited a partner to live with you?

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Clue: A government agency founded in the wake of the 2008 financial crisis that helps regulate and enforce consumer protection laws. This agency has made headlines recently due to a stop-work order and layoffs directed by the Trump administration.

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