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Americans are dealing with rising prices as they begin their back-to-school shopping, and more are turning to credit cards to make ends meet, a recent survey said. 

Almost three-quarters of Americans expect the costs of sending kids back to school this year to be challenging, with most expecting to pay an extra $100 to $200 for supplies, a U.S. News & World Report survey said. 

While most consumers plan to pay cash or use a debit card to cover expenses, many also plan to use a type of credit, including 17.3% who will carry a credit card balance.

“It’s good news that more than 69% plan to use a debit card or cash as part of their payment plan, but it’s concerning that so many also say they plan to use a form of credit that could lead to debt if not managed carefully,” the report said.

If you are struggling to pay off debt, you could consider using a personal loan to consolidate your payments at a lower interest rate, saving you money each month. Visit Credible to find your personalized interest rate without affecting your credit score.

COST IS THE BIGGEST FACTOR BEHIND WHY A MAJORITY OF AMERICANS DELAY MEDICAL CARE: SURVEY

So-called swipe fees, which companies such as Visa or Mastercard charge businesses every time a credit card is used to purchase, may add $3 billion to the price of school and college supplies this year, the Merchants Payments Coalition (MPC) said Thursday.

Swipe fees, which are also known as interchange fees, average 2.24% but can be as high as 4% of the purchase amount, the MPC said in a statement. Swipe fees more than doubled over the past decade, increasing to $22 billion last year. 

A bill proposed last year and reintroduced in June by Sens. Roger Marshall, R-Kan., Richard Durbin, D-Ill. and J.D. Vance, R-Ohio, aims to reduce swipe fees for credit cards by increasing competition within the industry. The bill would require that two competing networks be enabled on a credit card. It would no longer just be Visa or Mastercard – a smaller, competing network would have to be enabled on the card. Independent networks usually charge a lower fee, according to the National Retail Federation (NRF).

“Spending on school supplies helps children get an education, but the biggest lesson parents will learn is that swipe fees are astronomically high and make everything more expensive,” MPC Executive Committee member and National Association of Convenience Stores General Counsel Doug Kantor said. “Swipe fees add to the cost of school, whether it’s a lunchbox in first grade or a laptop in college. Congress needs to bring competition to the broken swipe fee market.”

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Back-to-school shopping can be expensive for families, but these tips can help families that plan to use credit cards, save money:

Families could look into using a credit card that offers cash back or other rewards. Some store cards, for example, offer cash back for purchases made at the store. 

“Furthermore, card issuers typically partner with retailers to offer even more cashback that can really help you maximize your savings,” CardRates.com senior editor Ashley Fricker said in a statement. “For instance, American Express has an offer to get $30 back when you spend $150 or more at Levi’s (online or in-store) and $120 back when you spend $599 or more at Dell.com with your Amex card.”

A 0% APR credit card means you won’t get charged any interest on your balance for a limited time. That can be useful if you make a big ticket purchase like electronics and need time to finance the purchase. You can put money toward your purchase each month just like you would if you were saving up for it without worrying about interest.

“If you do have a balance at the end of the introductory period, you pay the rest off at your regular purchase APR,” U.S. News said. “Credit card rates are fairly high right now, but at least you don’t pay deferred interest on these deals.”

If you’re working on paying down your credit cards, a personal loan could help you consolidate your debt at a lower interest rate and reduce your monthly payments. Visit Credible to find your personalized interest rate without affecting your credit score.

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Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.

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Nike shares are running toward the longest losing streak in company history. 

The retail giant’s stock has fallen for 10 consecutive days, losing over 11%. A close of $92.10 would be the lowest since November 2022, as tracked by Dow Jones Market Data Group. 

Annual losses are now at 16%, while the S&P 500 has advanced by the same amount. Nearly $17 billion in Nike’s market cap has been erased. 

Wednesday’s selling accelerated after Foot Locker, which counts on Nike for about 50% of its products, slashed its forecast, with Foot Locker CEO Mary Dillon noting “price-sensitive” consumers. It also suspended its dividend. Foot Locker shares fell over 30% in intraday trading. 

“Nike is an ‘unaffordable luxury’ with 61% of consumers living paycheck-to-paycheck,” Burt Flickinger III, managing director at Strategic Resource Group, told FOX Business. 

While inflation eased to 3.2% in July, down from more than 9% last summer, it remains elevated and consumers are facing rising borrowing costs for credit cards, auto loans and mortgages, which topped 7%. 

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But even before the bombshell, Nike’s selloff was on its ninth day. Dick’s Sporting Goods, another partner seller, reported a 23% drop in profit, slashed its profit forecast and CEO Lauren Hobart warned about rising theft. 

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Nike’s China business grew 25% in its fourth quarter, which was reported in June. Since then, the economic data coming out of the most populous nation has weakened. Economic growth in the region is expected to miss its 5% growth target this year, as firms including JPMorgan lower expectations. Additionally, the youth unemployment rate soared to 21% and the People’s Bank of China recently cut interest rates. 

Nike, which reported fourth-quarter and full-year results in June, earned $0.66 cents per share, below analysts’ $0.67 estimate. Full-year profits fell 14% to $3.23 per share. Additionally, inventory levels – while improving – remain a work in progress.

“We expect first-quarter revenue growth to be flat to up low single digits, reflecting our decision to tighten first-half buys and restrain marketplace inventory,” said Nike Chief Financial Officer Matt Fried. 

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A major grocery store in Baltimore, Maryland, has been temporarily shuttered for days over an ongoing mouse infestation, reports show. 

“We’re sorry for the inconvenience. Our store is temporarily closed until further notice,” a sign outside a Harris Teeter in Baltimore’s Locust Point neighborhood reads, according to the Baltimore Banner. 

A Harris Teeter spokesperson confirmed to local media last Thursday that the location was closed to “correct a pest issue,” and did not reveal when the location would reopen. The grocery chain did not identify what pest had infiltrated the store in its written statement, but the Baltimore Banner reported that the spokesperson said mice are the source of the closure. 

The store was still closed as of Tuesday, according to the Baltimore Banner. 

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“Harris Teeter takes the health and safety of our valued customers and associates very seriously and has voluntarily chosen to temporarily close the McHenry Row location while we work to correct a pest issue,” Harris Teeter spokesperson Danna Robinson told WBAL-TV. 

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“Out of an abundance of caution and to maintain the high standards Harris Teeter is known for, we have contacted both our professional pest control company and the Baltimore City Health Department to partner with us on sanitation and control measures. Additionally, we have implemented strict sanitation protocols, initiated a thorough cleaning and will maintain ongoing inspections. With this expansive mitigation programming, we anticipate reopening the store soon,” she added. 

Harris Teeter, a subsidiary of The Kroger Company, operates more than 250 locations in southeastern states, and has been ranked as one of the most luxurious grocery stores in the U.S., Yahoo Finance reported earlier this year. 

Employees of the store told the Baltimore Banner this week that the location was undergoing a deep clean. 

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The temporary closure comes after a restaurant in downtown Baltimore temporarily closed over a mice infestation. Charm City ranked 7th for rat infestations in 2022, according to a study published by pest control company Orkin. 

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Harris Teeter did not immediately respond to Fox News Digital’s request for comment. 

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After reigning more than two decades as the top-selling beer in the U.S. on an annual basis, Bud Light has officially been knocked off its pedestal.

Modelo Especial surpassed the beleaguered Anheuser-Busch InBev brand in year-to-date sales for 2023, according to the latest NielsenIQ data, which was first reported by CNN.

NIQ’s data shows that as of Aug. 12, Modelo reached an 8.34% share of dollars spent on beer at stores in America year-to-date, passing Bud Light, which sat at 8.28%, on an annual basis for the first time.

Modelo, owned by Constellation Brands, has been gaining on Bud Light in annual sales for months. The Mexican lager has been the top-selling beer monthly since May, shortly after Bud Light’s sales were hit following a controversial partnership with transgender activist Dylan Mulvaney.

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The backlash against Bud Light and Anheuser-Busch InBev started in early April, not long after the company created and sent custom beer cans to Mulvaney to mark “365 days of girlhood.” That move and the company’s response to it sparked calls to boycott the brand, and sales have taken a clear hit.

NIQ data provided to FOX Business by Bump Williams consulting showed that as of July 29, Bud Light sales were down 14.5% on a dollar basis for the year and down 18.8% in volume, while Modelo Especial was up 9.6% in terms of dollar sales and 5.4% in volume.

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Other top brands are capitalizing on Bud Light’s downward spiral, too. In the last week of July, dollar sales for Miller Lite were up 19.2%, Coors Light rose 20.7%, Yuengling Traditional Lager jumped by 22.5% and Corona Extra sales increased by 4.8%.

Conversely, Bud Light’s contagion has also hit other Anheuser-Busch brands. Busch Light’s volume sales were dinged 6.4% and Budweiser’s fell 13% in the week ending July 29.

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Anheuser-Busch InBev reported earlier this month a steep drop in profits as a result of the boycott. The company announced that its U.S. revenue dropped 10.5% in the second quarter, while its earnings before taxes, interest and depreciation fell 28.2%. 

FOX Business’ Madeline Coggins contributed to this report.

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If your home has a garage, there’s much more you can do with that extra space than just park a car. 

Garages can be useful for storing tools, lawn care and gardening equipment, bicycles, toys — and a myriad of other supplies and belongings. 

If your weekend project to-do list includes upgrading your garage, yet you’ve been putting it off due to high costs, read on.

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FOX Business spoke to design pros for their best tips on how to upgrade a garage for less than $250. 

Metal shelving units, such as those from Costco or Home Depot, can be purchased for around $100-150.

These can be used to store and organize all your garage items from sports equipment to tools and more, said Bob Thomas, lead design expert with Hearth and Petals in New York City. 

“Not only does this get things up off the floor, but it also maximizes your space and makes it easier to find what you need,” said Thomas. 

If you have a workbench, consider adding a pegboard above it to store tools and supplies, suggested Austin Fain, CEO of Perfect Steel Solutions in Fort Wayne, Indiana.

7 IDEAS TO UPGRADE YOUR HOME OFFICE FOR $250 OR LESS, ACCORDING TO EXPERTS

“You can also add a clamp-on light to improve visibility while working,” he said. 

Another idea for tool organization, said Fain, is to use magnetic strips or hooks to organize and display your hand tools — keeping them easily accessible.

Painting or sealing the floor can give your garage a fresh look, Fain said. 

“By applying garage floor paint or epoxy coating, this can help hide stains and protect the floor from future damage,” Fain told FOX Business.

Take the opportunity to do safety enhancements in your garage. 

“Install smoke detectors, buy a fire extinguisher and install carbon monoxide detectors if they’re not already present,” suggested Fain. 

Most garages come with one or two fluorescent lights.

6 WAYS TO UPGRADE YOUR FINISHED BASEMENT FOR $250 OR LESS, ACCORDING TO EXPERTS

Yet replacing them with energy efficient LED fixtures is an affordable way to upgrade your space and make it brighter and more inviting, said Patrick Grayson, a general contractor and CEO of Paramount Property buyers in the Indianapolis, Indiana, metro area. 

“Look for fixtures that can be easily mounted on the ceiling or walls of your garage,” he suggested.

Don’t fret if the children make a mess since they’re in the garage, noted Alanna Murray, an in-house designer with Murray Craft Builders, a residential contractor in New York City and Westchester, New York. 

5 WAYS TO UPGRADE YOUR FAMILY ROOM FOR $250 OR LESS, ACCORDING TO DESIGNERS

“Find an inexpensive kid table and chairs from Ikea or secondhand,” Murray said. 

Get creative and informal, she added.

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“We put a plastic shower liner under the craft area to contain the mess and allow for easy wipe downs,” she said. 

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“I set this up for my almost two-year-old so I can get some work done in the workshop and keep an eye on her while she uses Play-Doh in her little craft nook,” Murray said.

Want more ideas for home upgrades? Check out: 5 ways to upgrade your kitchen for $250 or less, according to professional designers.

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