Your electric bill is going up. Blame ChatGPT.

Your electric bill is going up, and you can thank AI for that. Those ChatGPT queries and AI-generated images? They're powered by massive data centers that consume as much electricity as entire cities. And guess who's footing the bill for that energy surge? You are.

Here’s what’s inside:

• How common is being a millionaire (really)?

• Good news for student loan borrowers (finally)

• AI is making your electric bill more expensive

• Why money anxiety isn't really about the money

P.S. If you want to talk through your own finances, you can book a free 1-hour coaching call here ☎️

Are millionaires actually that rare?

Turns out, not as much as you'd think.

There are now 23.8 million millionaires in the U.S., accounting for nearly 40% of all millionaires worldwide. That's over 1,000 new millionaires every single day. But before you feel left behind, here's the reality check: having a million-dollar net worth might not even be enough to retire comfortably, depending on your spending.

Here's the flip side: if over 1,000 people are hitting millionaire status every single day, that means it's actually achievable. These aren't all trust fund kids or lottery winners.

A lot of millionaires are regular people who started with nothing and just kept going. The difference? They treated wealth-building like a marathon, not a sprint. Small, consistent moves compounded over time.

What millionaires actually do differently:

💰 They automate everything - Set it and forget it. Auto-transfers to savings and investments mean you never have to rely on motivation or "remember" to invest.

💰 They increase contributions annually - Even bumping your 401(k) by 1% each year adds up to hundreds of thousands over time, and you barely notice the difference in your paycheck.

💰 They let compound interest do the work - Someone who invests $500/month starting at 25 could have $1.4M by 65. Start at 35? You'd need to invest $1,200/month to hit the same number.

💰 They avoid lifestyle creep - Got a raise? They invest the difference instead of upgrading their life immediately.

The path to wealth isn't some secret formula. It's boring consistency over decades. But hey, at least boring works.

If becoming a millionaire is one of your money goals, we can help you create a plan.

Student loan bills could finally drop

Good news: The Department of Education is removing the requirement to prove financial hardship for the Income-Based Repayment plan, with changes expected to be finished in December.

This means higher earners can now qualify for IBR, which caps monthly payments at a portion of your discretionary income and forgives remaining debt after 20-25 years. Around 2.5 million borrowers currently enrolled in the phased-out ICR and PAYE plans could see lower monthly bills once they switch to IBR.

Here's what changed:

📊 No more hardship proof - Previously, you had to show your income was below a certain level to qualify. That's gone.

📊 Payments stay the same - Still 10-15% of discretionary income, depending on when you borrowed

📊 New plan coming - Starting July 2026, borrowers will also have access to the Repayment Assistance Plan (RAP), which offers lower monthly bills but forgiveness after 30 years instead of 20-25

The catch? Monthly bills under IBR will be higher than those under the now-defunct SAVE plan, but it's better than nothing for those who need relief.

Trying to manage student loans on top of everything else? We can help you see the full financial picture.

AI is making your electric bill more expensive

If your power bill has been creeping up, you're not imagining it. Residential electricity prices rose 7.4% to about 18 cents per kilowatt hour in September, and they're expected to keep outpacing inflation through at least 2026.

The culprit? AI data centers.

The International Energy Agency expects worldwide electricity demand from AI data centers to more than quadruple by 2030. These massive facilities consume gigawatts of power (enough to rival entire cities) and that demand is pushing up prices for everyone.

What this means for your wallet:

💡 Winter heating costs rising - Households using electricity for heat could see winter bills jump to $1,205 this season, up about 10% from last year's $1,093.

💡 Location matters - States like Virginia, Illinois, and Ohio have seen electricity prices surge 12-16% in areas with heavy data center concentrations.

💡 No quick fix - Even with rate cuts, experts say prices won't drop this decade due to tight supply and high demand.

The tough reality: there's not much you can do about it right now except adjust your budget and look for ways to reduce usage where possible.

Money anxiety isn’t really about the money

You know that pit in your stomach when you check your bank balance? That's not actually about the number on the screen. It's about what you think that number says about you.

If the story you tell yourself are these…

👉 "I'm so bad with money" (every time you overspend)

👉 "Everyone else has it figured out except me" (when you see friends buying houses or taking vacations)

👉 "I'll never get ahead no matter what I do" (when unexpected expenses hit)

Then you might want to watch this video:

 Worth the Click This Week

💬 Personal finance advice is broken: Two economists argue that the current system is too complex for most Americans to navigate, even with financial literacy classes. Their solution? Simpler, standardized "starter kit" products and stronger regulations. Read why »

🏠 Mortgage rates inch down (barely): The 30-year fixed rate dropped to 6.23%, down just three basis points from last week. Experts say waiting for rates to hit 6% probably isn't worth it—home prices are the bigger factor. Explore your options »

👵 Wealth = longer life?: Research shows that wealthier Americans live longer than poorer Americans, with those in the top wealth quartile having death rates 40% lower than the poorest quartile. But even wealthy Americans don't live as long as their European counterparts. See what matters most »

🤑 Year-end money moves: With just weeks left in 2025, there are tax-advantaged moves you can make now: max out retirement contributions, harvest tax losses, make charitable donations, and check your FSA balance. Your checklist »