Your Money: Taxes, dating and money, Social Security and more
The sprawling budget and tax law, the perils of discussing money while dating, Social Security and more
Your Money
July 7, 2025

Hello, and welcome back from the holiday weekend.

The wide-ranging domestic policy package that President Trump signed into law on Friday will touch the financial lives of Americans up and down the income ladder, but those at the bottom will feel the profound shifts most acutely. As my colleague Tony Romm reported, the law creates one of the largest retrenchments in the federal safety net in a generation.

And as my other colleagues note, it provides the most generous tax breaks more immediately, while reserving its most painful cuts for after the midterm elections.

We created a quiz that tries to help taxpayers understand how the new law will affect them directly, or even indirectly. The legislative language wasn’t entirely clear in some areas, and we’re still trying to gain more clarity on some of the provisions.

You may have some questions as well. Are you confused by any specific pieces of the new law? Send us your questions and thoughts here: yourmoney_newsletter@nytimes.com.

Kooshan Dunn and Aaron Dunn, each wearing a blue, button-down shirt, standing for a portrait.

How Many Dates Should You Go On Before You Start Talking About Money?

Couples tend to dance around discussing how much they earn or owe early in a relationship. But experts agree that talking about money sooner is better than later.

By Kailyn Rhone

A tan brick building with the words Social Security Administration on the front.

Social Security Sends Misleading Email Claiming to Eliminate Taxes

The Social Security Administration circulated an imprecise email about the provisions in the new law. Here’s what it actually does.

By Tara Siegel Bernard

An illustration of a small man looking at large charts.

Strategies

A Solid Report Card for the Markets, Despite Shock and Worry

While the Trump administration has engaged in continual disruptions, most investors have prospered.

By Jeff Sommer

An illustration with a grid showing a woman in the center fanning dollar bills in her hand and squares around her showing various things like credit cards, a bottle and glass of wine, a piggy bank and a car fueling at a gas station.

Shop Talk

Videos Make #Paydayroutines Everybody’s Business

The tag is being used by TikTok and Instagram users, mostly members of Gen Z, who open up about how they spend their paychecks, down to the dollar.

By Kristen Bayrakdarian

9 Questions About the Republican Megabill, Answered

Who benefits, and who gets hurt? How much does it really add to the debt? And what’s the deal with Alaska?

By Alicia Parlapiano and Margot Sanger-Katz

A map of the United States showing the top industries in terms of employment in 2024. In 2024, 38 states had health care as the top industry.

How Health Care Remade the U.S. Economy

Medicine is now the nation’s largest employer, but its growth may be slowing.

By Lydia DePillis and Christine Zhang

A silhouetted hand holds a bottle of medications.

Drugmakers Notch a $5 Billion Win in Republicans’ Policy Bill

More medicines will be spared from Medicare price negotiations, a change that is projected to wipe out billions in savings for the federal government.

By Rebecca Robbins

A red sign on a store shelf reads “We accept SNAP” with the SNAP logo, indicating acceptance of EBT.

What Are SNAP Benefits, and How Will They Change?

President Trump’s policy bill makes significant cuts to the food aid program, once known as food stamps, used by about 42 million people.

By Julia Moskin

A hilly green area, with cattle grazing in the foreground.

Why Beef Prices Have Hit a Record

Smaller cattle herds and a decade of headwinds for the industry are expected to push up the cost of burgers and steaks for several years.

By Kevin Draper

Scott Bessent, wearing a dark suit, white shirt and blue striped tie, stands in a yellow hallway.

Bessent Says He Expects Trade Deals by This Week’s Deadline

But the Treasury secretary also said that some countries working toward agreements with the United States could have until Aug. 1.

By Steven Moity

Chart showing job gains over the last 13 months. In June, the economy gained 147,000 jobs.

Hiring Held Steady in June as Employers Added 147,000 Jobs

The strength of the labor market suggests that the economy remains robust despite uncertainty caused by President Trump’s tariffs and geopolitical turmoil.

By Sydney Ember

A colorful illustration of a glass office, with one person hiding under a desk and another looking up from her computer as a giant robot looks in from the outside.

Which Workers Will A.I. Hurt Most: The Young or the Experienced?

Amid layoffs at Microsoft and other large tech companies, experts are debating whose jobs are most likely to be spared.

By Noam Scheiber

Jennifer Dunn, in a white shirt with blue stripes and jeans, stands in the doorway of a stone building.

Welcome to Your Job Interview. Your Interviewer Is A.I.

You thought artificial intelligence was coming for your job? First, it’s coming for your job interviewer.

By Natallie Rocha

Bob Jordan, wearing a blue jacket over a white shirt, with a heart-shaped Southwest logo pin on his lapel, sits at a wooden desk with papers on it. Shelves full of books, model planes and other company memorabilia are on the wall behind him.

Corner Office

Southwest’s C.E.O. on Why Now Is the Time for Bag Fees and Assigned Seats

Bob Jordan recently introduced major changes to the way the low-cost airline works, which caused a stir among loyal fliers and left them wondering what sets it apart from competitors.

By Jordyn Holman

An illustration of a small orange car resembling a Volkswagen Beetle that has baggage tied to the roof and is squeezed between a giant green dollar sign and a giant yellow euro symbol. The car’s bumper is slightly askew, resembling an unhappy face.

Tripped Up

Help! I Dinged a Rental Car in Europe, and My Credit Card Won’t Cover It.

A traveler who used his American Express card’s collision damage waiver got stuck paying nearly $1,300 because of a missing document. Whose fault was it?

By Seth Kugel

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