The Daily Money: Why is tipping so controversial?
Good morning and happy Friday! This is Betty Lin-Fisher with Friday's consumer-focused edition of The Daily Money.
Admit it: When you're checking out at a coffee shop or picking up some food and the cashier flips the display around to include the tip screen, do you grumble a bit inside?
Nearly 2 out of 3 people asked in a recent Bankrate survey said they have negative feelings about tipping. Another study by LendingTree examined government data to identify which states had the highest and lowest tipping rates.
How much are people tipping, and what state residents are the most generous?
Shopping habits are changing
Have you heard of valuespending? It's a term that Lightspeed Commerce, a point-of-sale commerce platform that serves a variety of retail and hospitality clients, came up with to describe shoppers who are choosing to shop brands and retailers that align with their values.
According to a survey of 2,000 shoppers aged 18 and older by Lightspeed, 92% of respondents said they are somewhat intentional in their shopping habits these days. And Gen Z shoppers are leading the charge.
Say no to an inheritance?
The so-called great wealth transfer has begun, reports my colleague Medora Lee. Nearly $124 trillion in assets will change hands through 2048, according to estimates by the consulting firm Cerulli Associates.
However, if you have a big inheritance coming, you may want to consider refusing it. Here's why.
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