Fourth of July plans are in full swing, with Americans leaning into travel and backyard celebrations. Empower research shows that 68% say hosting barbecues is noticeably more expensive, and 38% are going to celebrate big and spend more this year than last on the holiday.

Where the money’s going:

🌭 Food, groceries, or takeout: 62%

🎆 Entertainment or fireworks: 28%

🎉 Hosting or attending a party: 25%

✈️ Travel or gasoline: 20%

The cherry on top: No summer party is complete without a frozen treat. Spending on ice cream reached $31 in May, a 26.5% jump over April and well above the $24 average monthly spend last year.

— The Editors   

🍧 Savings delight: Mid-year is a time to revisit emergency funds, spending habits, and other financial priorities. According to the Fed, 72% of Americans say they’re doing okay or better with their finances. The personal savings rate climbed to 4.9% — up from 4.1% in January — as more people focus on building a cushion. Read more on The Currency^TM.

🙋 529 toppings: U.S. savers currently have $508 billion put away in 529s. Empower research shows that for dual-income households with children, education is the top financial priority. New legislation could add a broad range of education expenses to 529 savings plans, including homeschooling costs, test fees and preparation, and tuition for non-degree credentials and licenses.

👓 A must-see: Eyewear is about to get smarter: Warby Parker and Google are collaborating to create a series of stylish AI-powered glasses. Google first forayed into smart glasses in 2013* and is committing up to $150 million to the new project. Americans continue to warm to AI, with 47% becoming more comfortable using it in their financial lives.

🥄 Supply scoop: Home Depot’s SRS Distribution unit is buying building products distributor GMS for about $4.3 billion,* ending a bidding war between the big-box retailer and competitor QXO. Last year, Home Depot bought SRS Distribution, which specializes in roofing supplies, for over $18 billion. The swirl of M&A activity comes as home renovation spending is expected to reach $509 billion this year.

🎾 Red, white and play

Sand lots and neighborhood pick-up games have given way to a $40 billion youth sports market. Americans spend an average of $1,016 a year on their child’s primary sport and about $475 on a secondary sport. Read more on The Currency.

For those with an aspiring tennis star in their midst, Wimbledon has boosted* its total prize money by 7% to £53.5 million (about $73 million USD). This year’s tournament will run through July 13.

Salary share

Job seekers are taking note as more companies disclose salary ranges — now required in 14 states and at least six cities. The disclosures offer insights into compensation by role and location. The median weekly U.S. salary was $1,194* in Q1 this year.

Peach season is back at Chick-fil-A,* as its signature milkshake returns for a 16th summer, and now with a frosted lemonade twist—part of a broader rise in year-round cold beverage demand.

It’s sweet news as nearly 60% of Americans define financial success as being able to buy everyday items that bring joy. 

Chill out

Travelers seeking relaxation and adventure are paying* $1,000 a night per person for all-inclusive resort stays that combine heated spas and infinity pools with counseling sessions, mindfulness exercises, and amenities like family workshops.

Empower research reveals that 63% of Americans “feel wealthy” if they have time to spend with family and friends.