financial wellness
Financial Literacy 101
Financial Wellness
(Family Features) Financial anxiety is on the rise in the United States, making financial literacy – simply put, the ability to understand and effectively utilize various money management practices including budgeting, investing and saving among others – as important as ever.
In fact, 36% of the U.S. general population feel anxious about their current financial situations with 26% feeling strained, according to research from World Financial Group. Taking steps to become more financially literate and manage money more effectively can help.
While there isn’t one “right” way to gain financial literacy, these steps can help grow your understanding and confidence around your finances.
- Understand Your Finances
Understanding your finances and how your financial decisions impact your future self is essential for making appropriate choices. Without this understanding of your income and expenses, you become vulnerable to making the wrong decisions and can put yourself at greater risk in the future.
To further expand your knowledge base, consider taking a financial literacy quiz to test your understanding of concepts such as compounding interest, inflation and risk diversification. If necessary, don’t be afraid to seek the advice of a professional before making important financial decisions. - Take Control and Plan with Confidence
To take control of short- and long-term financial priorities and aspirations, individuals should plan ahead. Establishing these goals is the first step to effective planning, whether lifestyle goals, hopes for retirement or specific items you wish to acquire, such as a new vehicle or home. This approach provides a target for building your savings and protection plans. - Prepare and Plan for Life’s Unexpected Events
If not adequately prepared, unexpected events can have catastrophic impacts on household finances. For example, having to leave the workforce early due to illness could mean years of lost earning power, which could impact your short- and long-term priorities and aspirations. Therefore, it’s essential to ensure backup plans, such as a retirement account or life insurance that includes income protection if unable to work, are in place, if the unexpected happens. This “cushion” can contribute to greater confidence in your future financial outlook and stronger feelings of security going into waves of economic uncertainty.
Test your literacy to assess your understanding and confidence around finances at WorldFinancialGroup.com.
Photo courtesy of iStock
SOURCE:
World Financial Group
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Consumer Corner
Deed fraud can cause vulnerable Detroiters to lose their homes – here’s why it’s hard to catch the thieves
Deed fraud is rising in Detroit, where forged deeds can strip vulnerable homeowners of their property. Here’s how title theft works, why it’s hard to catch, and what reforms could help.
Donovan McCarty, Michigan State University
Buying her first home on Detroit’s far east side in 2021 was the moment when a lifelong dream finally came within reach for Kim Page.
“I accomplished something that I always wanted to do,” said Page, who grew up in the city. “I always wanted to buy my own home since I was like 18. I never wanted to rent from anyone.”
Page said she had saved US$15,000 and used $3,800 in cash to buy the single-family brick house on Britain Street. The house, owned by a friend planning to move out of Detroit, was “damaged pretty bad,” Page recalls. But the house was hers to care for, and she was determined to fix what was broken.
For the next several years, Page poured her sweat and paychecks into the property. Working first as a welder at automotive supplier Fisher Dynamics, and later as a phlebotomist, she paid for a dumpster, windows, a door, ceiling repair and an awning above her front porch. Page invested $27,000 in needed repairs and, in 2022, happily moved in.
But in August 2023, a storm damaged her roof. By March 2024, mold had grown inside the property, which made Page struggle to breathe; she moved in with family. She returned to the home in April 2024 for an appointment with a representative from the Federal Emergency Management Agency. That’s when Page noticed the locks had been changed. Perplexed but undeterred, she broke down the back door to get inside and purchased new locks, which she installed.
Then on a hot, summer day in July 2024, Page came home to discover all her locks had been changed again.
Searching for answers, Page called the Wayne County Register of Deeds’ Mortgage and Deed Fraud Unit. The staff confirmed she was a victim of deed fraud – a crime where scammers forge signatures to record a phony transfer of property ownership. Once criminals hijack the title, they can sell the property, rent it out or drain its equity with mortgages, potentially leaving the rightful owner to face the legal and financial fallout.
“I just was in shock,” Page said. “I can’t believe somebody really did this to me.”
A nationwide problem that’s hard to nail down
Page reached out to me for help in March 2025. I’m a housing attorney, assistant professor at Michigan State University College of Law and director of the Housing Justice Clinic. I have represented dozens of victims of deed fraud.
I have also studied how property recording systems respond – or, more accurately, fail to respond – to fraud. My work examines how procedural gaps in title systems disproportionately harm elderly, low-income and minority homeowners.
Nationwide, deed fraud – also called quit claim deed fraud or home title theft – is a growing problem, including in New York, Boston, Miami and Philadelphia.
Exactly how big a problem it is, is hard to know. The FBI does not track deed fraud specifically, instead grouping it into a larger category of real estate crimes.
From 2019 through 2023, 58,141 victims in the U.S. reported $1.3 billion in losses relating to real estate crime, the FBI says. However, that number is likely undercounted because many people don’t know where to report it, are embarrassed they were victims or don’t know yet they have been targeted.
In Detroit, deed fraud may be particularly prevalent because so many housing deals are made in cash and many properties owe back taxes. The Wayne County Mortgage and Deed Fraud Unit has tracked more than 13,000 inquiries regarding deed fraud and has opened over 2,300 cases throughout Wayne County since 2005.
Without oversight, the crime often goes undetected
Committing deed fraud is remarkably simple.
A deed is the legal document that transfers ownership of a home or other real property from one person to another. When a home is bought or sold, a deed is legally drawn up to reflect the transfer of ownership. That deed is then recorded with a county register of deeds, providing public notice of who legally owns the property.
A fraudster can forge the signature of the real owner – sometimes someone who is deceased. They can file a deed that appears valid on its face but isn’t.
They then record that false deed with a county register of deeds, the local government office that keeps public land records and other documents showing ownership, claiming title to property they do not actually own.
Fraudsters often target vulnerable people and properties, including elderly owners, families dealing with inherited homes, and houses that appear vacant or neglected, such as those behind on property taxes.
The incentive is clear: Once a fraudster appears to hold title, they can try to sell the property to an investor or an unsuspecting buyer looking for stable housing. I have seen fraudsters secure as much as $50,000 from one deal when they obtained a mortgage based on a fraudulent deed. One notable case of fraud targeted Elvis Presley’s former estate, Graceland.
In Michigan and most other states, recording offices do not have authority to substantively review a deed to determine whether it is fraudulent. If the document complies with technical formatting requirements, such as margin and font size, it must be recorded. Once stamped and indexed, the deed appears legitimate and can easily trick desperate buyers, investors, financial institutions and even police officers, lawyers and judges.
In other words, the recording process is largely administrative, not investigative. The government office accepts and files the document without first verifying that the person signing it actually had the legal right to transfer the property.
That means a fraudulent deed can enter the public record, look valid to the outside world and remain undiscovered for months or even years.
Detroit is vulnerable
The housing market helps explain why Detroiters are more vulnerable to deed fraud.
Homes in Black neighborhoods nationwide are systematically undervalued compared with similar homes in white neighborhoods. Black borrowers are also more likely to be denied conventional mortgage loans. Detroit is about 73% Black, with a median household income of roughly $39,000 and a poverty rate exceeding 30%.
In a market where access to traditional financing is uneven and home prices are relatively low, cash sales accounted for 4 in 10 sales in February 2024.
Lenders, brokers and title companies act as informal gatekeepers when people purchase a home using a mortgage. In cash sales, those actors are absent, and there are fewer opportunities to detect irregularities in the documented history showing how title passed from one owner to the next over time.
Illegal tax practices led to thousands of foreclosed homes
Property tax distress attracts fraudsters. Fraudsters seem to rely on publicly available tax foreclosure lists to identify properties that appear abandoned. They then pay the past-due taxes to remove the property from foreclosure and attempt to sell or mortgage the property using their fraudulent deed.
The fraudsters may also assume that the owner lacks the resources to wage a prolonged legal fight to recover title if they do uncover their scheme. In many cases, that assumption proves correct.
Michigan’s Constitution caps assessments at 50% of market value, but researchers have found that from 2009 to 2015, a majority of Detroit homes were assessed above that limit. Once those inflated bills went unpaid, interest, penalties and fees accumulated, often ending in tax foreclosure.
More than 100,000 Detroit residents lost homes in that crisis, and homeowners were overtaxed by at least $600 million between 2010 and 2016.
In a city already destabilized by unlawful tax foreclosure, fraudsters found opportunity in homes burdened by vacancy and broken chains of ownership.
The burdens that deed fraud victims face
My first encounter with deed fraud came in July 2023. I received a request for legal assistance from a man who said he had been evicted from a home he claimed to own. Honestly, I didn’t believe him.
But when I pulled the court records and deeds, I learned he was right.
A fraudulent deed had been filed on his property, stripping him of title. The fraudsters then filed an eviction case against him.
The owner had no phone and no internet access to attend the virtual hearings. The court entered a judgment to evict him. A bailiff came, broke down his door and threw his belongings into a dumpster.
It took six months and two separate court cases before he was finally able to return to his home. He never recovered his belongings – and we never found the fraudster.
There are many other hardships for a legitimate owner. A fraudulent deed can prevent homeowners from selling their property, refinancing or accessing financial assistance programs.
To clear title, owners must file a quiet title lawsuit – a court action used to resolve disputes over who legally owns a property.
But quiet title cases are complex legal proceedings.
They require multiple filings, hearings and strict compliance with procedural rules. Even when fraud is obvious – for example, when a deed was signed by someone who was already deceased – courts generally require formal litigation to remove the cloud from the title.
Likewise, the legal process of notifying the defendant can be especially burdensome. Fraudsters often use fictitious names and addresses, making them difficult or impossible to locate. Even uncontested cases typically take months. If a defendant appears and disputes ownership, litigation can stretch for years.
Filing fees, service costs and other litigation expenses accumulate quickly. Hiring an attorney can cost several thousand dollars, and some victims have reported spending tens of thousands clearing title to their homes.
As for Kim Page, her case is still ongoing. After being locked out of her home, she had to move in with relatives for over a year, putting a strain on their relationship. She was eventually able to return to her home, but the legal dispute over ownership has not been resolved.
On top of that, she is facing a counter-lawsuit from the company that filed the fraudulent deed, requesting $50,000 for repairs the company made to the home while Page was locked out, along with property taxes and utility bills that the company says it paid to the county and utility companies on her behalf. The county opened an investigation, but it remains unresolved. As a result, she still has no idea who orchestrated the scheme.
While there are free legal services organizations to help, they have limited capacity, and income thresholds exclude some homeowners who still cannot afford private counsel.
Legal reforms likely won’t resolve systemic issues
Across the country, state legislatures have begun responding. Twenty-one have enacted deed fraud legislation, and 15 more have proposed it.
Another common intervention is fraud alert systems, which notify owners when any documents that impact the title of their property are recorded.
Other reforms increase notarial requirements or enhance criminal penalties.
These measures may deter some misconduct, but they do little to reduce the burden on victims once a fraudulent deed has been recorded.
In my assessment, meaningful reforms focus on empowering registers of deeds to substantively review suspicious documents before recording them; simplifying and expediting quiet title proceedings; and expanding civil remedies so victims can recover the costs associated with clearing their title.
Some jurisdictions like Texas and Florida have adopted streamlined procedures that allow victims to initiate quiet title actions using standardized forms with reduced fees. Others permit recorders, prosecutors or judges to act when fraud has already been established.
In Michigan, I am working with lawmakers and stakeholders to develop comprehensive legislation addressing these issues. Bills are expected to be introduced later this year.
At the same time, my clinic has begun exploring how technology can help identify fraudulent deeds already in the record. We are working with computer scientists to evaluate whether artificial intelligence tools could flag suspicious filings and potentially prevent fraudulent documents from being accepted in the future.
No property system can eliminate fraud entirely. Preventive and punitive measures may limit fraud, but they cannot eliminate the incentive to commit it. For fraudsters, the payoff can be substantial.
Conversations about the issue often begin and end with the mechanics of the crime or the procedural burdens victims face afterward. Far less attention is paid to the housing market conditions that make some communities especially vulnerable in the first place.
Page, now 42 and working as a transporter for Sinai-Grace Hospital, has been coping with the stress of legal proceedings for the past two years and living with a heart condition so serious that she got a defibrillator.
The longtime Detroiter is fed up – with the lack of police help to find the fraudster, as well as the court system. All she wants is to be the rightful owner of the home.
“Give me my house back,” Page said.
Detroit editor Eleanore Catolico contributed reporting.
Donovan McCarty, Director, Housing Justice Clinic at Michigan State University College of Law, Michigan State University
This article is republished from The Conversation under a Creative Commons license. Read the original article.
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(Feature Impact) Weekend getaways and cross-country trips are supposed to offer a break from daily routines and financial stress. Yet for many travelers, the return home comes with an uncomfortable reality: the trip cost far more than expected. From luxurious dinners and spontaneous excursions to airport snacks and daily coffees, vacation spending is becoming increasingly difficult to control in an era of rising prices and experience-driven travel.
According to a survey conducted by TopCashback, a cash back site serving more than 20 million members worldwide to help people save as much money as possible on everyday spending, overspending while traveling is now the norm rather than the exception. Nearly 94% of respondents said they have spent more on vacation than originally planned, with more than 65% reporting they typically overspend by at least $250.
“Vacations should create memories, not money stress,” said Elisabella Ricca, personal finance and consumer analyst at TopCashback. “Giving yourself a spending plan before you travel can make it easier to enjoy the experience in the moment and avoid feeling guilty about the cost afterward.”
These findings reflect a growing disconnect between travel budgets and actual spending as vacationers navigate higher costs and pressure to make their trips feel worthwhile.
Inflation’s Impact On Travel Behaviors
Airfare, hotel rates, dining and entertainment costs are all climbing, forcing many households to rethink how often they take trips and what those trips look like. In fact, nearly 78% of respondents said rising travel costs have changed the way they vacation. Meanwhile, nearly 83% said they’re traveling less often altogether due to rising costs.
Travelers are Turning to Financing
These changing behaviors may also explain why financing vacations is becoming more common. The survey found 67% of respondents have used credit cards, financing plans or “buy now, pay later” services to pay for a vacation. While these tools can help make trips more accessible in the short term, they may also extend the financial impact of a vacation long after travelers return home.
Financial Stress After the Fun
For some travelers, that long-term effect is already being felt. More than 58% of survey respondents said they feel guilty at least sometimes about how much they spend on vacation, a feeling that often emerges after returning home and assessing purchases that seemed easier to justify while away from normal routines.
Small Purchases are Adding Up to Big Overspending
Vacation overspending rarely happens through one large purchase alone. Instead, smaller expenses accumulate steadily throughout the trip. For example, 53% of respondents said they’re most likely to spend more on coffee or drinks while traveling than they would at home, and another 53% said snacks are the common overspending culprit. These purchases may seem insignificant individually, but multiple small transactions each day can quickly add up.
Experiences Outweigh Luxury When Justifying Expenses
Even as travelers look for ways to cut costs, most remain willing to spend on experiences they view as meaningful. The survey found the top vacation splurges respondents are most likely to justify are fancy dinners (56%) and excursions or tours (48%). This suggests travelers are placing greater value on memorable moments rather than luxury, such as high-end accommodations.
Careful planning isn’t enough for most travelers to stay within a budget, as 59% of respondents said they set a vacation budget beforehand, signaling that overspending is often less about a lack of preparation and more about the realities of modern travel costs.
Nearly 90% of survey respondents said earning cash back or rewards on travel purchases would influence their spending decisions at least slightly. As people look for a better way to manage expenses and offset costs, many are turning to programs such as TopCashback, which offers travel-related cash back on airfare and last-minute flights, vacation packages, hotels and lodging, transportation and parking, car rentals, travel insurance, cruises, resorts and more.
To learn how cash back programs could help you stay within your next vacation budget, visit topcashback.com.
Photos courtesy of Shutterstock
SOURCE:
TopCashback
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Summer is supposed to be the season of yes: yes to rooftop drinks, weekend flights, beach clubs, festivals, and finally trying that hobby you’ve been bookmarking since January. But according to a new Dating.com analysis, the “main character summer” lifestyle can come with a very real price tag—especially if you’re paying for everything on your own.
Dating.com’s latest report, Dating.com Reveals the Most Expensive Cities to Be Single in Summer 2026, looked at 50 popular destinations worldwide and ranked them by what it calls a Single Tax Score—a composite measure of the costs singles are likely to face during peak summer months.
Why being single can cost more than you think
The study builds on Dating.com’s earlier findings that 43% of singles focus on self-care—from gym memberships and skincare to solo dates and travel. At the same time, 41% of singles say they’d feel less lonely if they had more money, underscoring how financial flexibility can influence how often people can say yes to experiences that build connection.
Dating.com’s resident therapist, Jaime Bronstein, LCSW, notes that the assumption “single = cheaper” often doesn’t hold up. Couples can split rent, transportation, meals, and entertainment, while singles absorb the full cost alone—plus summer’s calendar tends to be packed with higher-priced social events and trips.
The 10 most expensive cities to be single in Summer 2026
Here are the top destinations where the summer “single tax” hits hardest, based on Dating.com’s ranking.
1) Miami (Single Tax Score: 75)
Miami takes the top spot thanks to steep nightlife and entertainment costs. Dating.com estimates:
- $110 for a solo date night
- $200/night for beach clubs and nightlife venues
- $280/night average summer hotel rates
2) New York (74)
New York lands at #2 with high costs across nearly every category:
- $115 average solo date night
- $380/night average summer hotel rates
Even without flight costs for locals, accommodation and social spending push NYC near the top.
3) Mykonos (72)
Europe’s most expensive destination for singles on the list, Mykonos is priced like a fantasy:
- $1,900 average summer flights from New York
- $280/night beach club and nightlife costs (highest in the study)
- $300/night average hotels
4) Las Vegas (70)
Vegas is built for entertainment—and the bill reflects it:
- $250 average festival/concert tickets (highest among the top ten)
- $180/night nightlife costs
- $145/night average hotels (relatively affordable, but spending adds up fast)
5) Boston (67)
Boston’s biggest driver is lodging:
- $390/night average summer hotel stays (highest of any city in the top ten)
- $108 average solo date night
6) Maldives (64)
A classic “romantic” destination that gets especially expensive solo:
- $480/night average hotels (highest in the top ten)
- $1,300 average summer flights from New York
- $124 average solo date night
7) San Francisco (62)
San Francisco remains costly for both travel and everyday experiences:
- $820 average flights from London
- $100 typical solo date
- $245/night average hotels
8) Los Angeles (61)
LA’s premium social scene pushes it into the top ten:
- $100 average solo date night
- $820 average flights from London
- $22 average rooftop cocktail
9) London (61)
London’s costs are driven by international travel and peak-season lodging:
- $1,900 average flights from New York
- $295/night average hotels
- $108 average solo date
10) Santorini (61)
Like Mykonos, Santorini’s popularity inflates nearly every summer expense:
- $1,900 average flights from New York
- $160/night beach club and nightlife costs
- $310/night average hotels
What to watch for (and how to plan smarter)
The takeaway isn’t “don’t travel” or “don’t go out.” It’s that destination choice can dramatically change the cost of a solo summer, and singles may want to budget differently than couples.
If you’re planning a solo trip (or just trying to make the most of where you live), consider:
- Swapping one premium hotspot for a value city (the ranking includes lower-cost options like Bangkok, Medellín, Mexico City, and Kuala Lumpur)
- Prioritizing experiences that don’t scale with group size (museums, walking tours, day trips, free festivals)
- Booking lodging early in high-demand cities where hotels are doing the most damage
As Bronstein emphasizes, being single isn’t a problem to solve—and solo experiences can be just as meaningful as romantic ones. The goal is to make sure your summer plans support your life, not stress your wallet.
Methodology (in plain English)
Dating.com reviewed 50 popular destinations and analyzed costs associated with being single in summer, including:
- Date night costs for one person
- Summer hotel rates
- Summer flight costs
- Rooftop cocktail prices
- Festival and concert ticket prices
- Beach club costs
- Pet-related surcharges
- Other seasonal leisure expenses
Each factor was normalized on a 0–1 scale (with 1 representing the highest cost), then combined into a final score to rank cities from most to least expensive for singles.
Source: Dating.com, via PRNewswire (June 25, 2026)
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