Clark Biweekly 6 27 24

Author

Anthony Hazzard
June 27, 2024

Love a good steak? Find out later in this email which two restaurant chains are trying to raise their prices below inflation.

đŸ’” Today’s Top Stories
Gold Bad

Gold is not a get-rich-quick plan. It’s not a great place to turn if you’re panicking. And Clark doesn’t even consider it an investment. Here are the right and wrong reasons to buy gold. Read more.

Passport

Did you know that non-expired passports can still be invalid when you travel to other countries? Here’s what you need to do before you book travel. Read more.

Credit card companies

You might know Clark’s minimum credit card rule, but can you have too many credit cards? We asked a credit card expert to weigh in so you know the magic number. Read more.

Tires

A set of new tires can wreak havoc on your monthly budget. When is the best time to buy them? And how can you ensure that you get the best possible deal? Read more.

Patient Portal

Patient portals are becoming more common. They offer convenient access to test results and other medical information. But should you allow permissions if your medical information is sensitive?

📣 Today’s Top News
đŸ„© Americans Loving Inexpensive Steak Right Now

Love a decent steak at an affordable price? You’re not alone.

According to a recent Cheesecake Factory presentation, the average check at Texas Roadhouse is just $22. LongHorn Steakhouse wasn’t much more expensive at $26 a person.

“Affordable luxury,” as CNN calls it, is a hit at the moment. In the first quarter, Texas Roadhouse locations did 8.4% more sales year-over-year. Longhorn Steakhouse locations notched a +4% mark.

That’s during a period when, as CNN reports, “Americans curtail retail spending and plan to shell out less for vacations this summer. Most restaurant chains are feeling the heat, with even McDonald’s reporting that lower-income customers are pulling back.”

As other restaurants and fast food chains have raised prices over and over during this period of prolonged higher-than-normal inflation, the two affordable meat-and-potatoes chains “have been trying to raise prices below inflation” and “consistently earn top marks on the American Customer Satisfaction Index.”

According to the Bureau of Labor Statistics, as CNN pointed out, beef steaks have gone up 5.7% in price year-over-year through the end of May. Perhaps propping up the value of Texas Roadhouse and Longhorn Steakhouse even more.

If you’d rather have your steak at home, but want to keep your expenses down, Team Clark gives you 22 clever ways to save on your groceries.

📊 Stat of the Day

đŸ«€98: Age of the oldest American to ever donate an organ. Orville Allen, a World War II veteran, died May 29 when he fell and hit his head. As his family contended with what became a fatal head injury, they were surprised when hospital staff asked whether he’d donate his liver. It got successfully transplanted to a 72-year-old woman.

đŸ’°ïž Deal Alert: Today’s Top Deals
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đŸŽ™ïž Podcast

There has been a lot of talk about smaller businesses being beaten by the big mega behemoth stores. One exception to that trend: Ace Hardware. Why? Clark explains why Ace Hardware is still around despite competition from big companies like Lowe’s and The Home Dept. Also, if you are someone who has bought Amazon’s electronics brands over the years, Clark has a tip that can help you save on your next purchase.

☎ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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