I know I’m not the only one feeling a little wrung out, because my colleague Kristin Schwab has been traveling around the country, talking with real people like you and me about their personal economies, and struggles to make purchases big and small. Kristin’s taking over the newsletter today to bring you in on this project, and some of her other recent reporting on issues plaguing me and probably you too. —  Tony Wagner, newsletter editor

Last year, I set off on a reporting project, traveling from New Hampshire to Minnesota to Texas. The idea was to get a better understanding of how people view the economy and how they navigate it as it changes. I went matteress shopping with a 17-year-old single mom moving out on her own for the first time and hiking with a husband and wife preparing for retirement in an uncertain economy. The group included people with different jobs, incomes and political views.

One theme no matter the walk of life: It’s getting harder to attain the “American dream,” especially when everything is so expensive.

Take Julie Yang and Daniel Thao in Minnesota, who have six kids and spend $25 a week — about an hour’s worth of work — at Costco on milk alone. They knew having a big family would be expensive. But between child number one and six, prices have gone up nearly 30%. “I feel like the more I think about it, the more depressing it gets,” said Yang. “I’m just going day by day right now.”

Even people who are doing well by most financial measurements are making sacrifices. Ashley Ayala, an insurance appraiser whose salary is about $75,000, spent much of the last year working toward her goal of owning a home . Between elevated mortgage rates and layoffs in her industry, buying alone in Austin, Texas, didn’t seem doable. “Financially, on paper, I am doing better than I have ever done,” said Ayala, who describes herself as stuck between having enough money to treat herself to a Le Creuset pot, but not enough for a downpayment on a home. “It feels a lot harder because everything still seems out of reach.”

Ayala recently found a compromise. She bought a home with her friend. It seems the pillars of American life are still there. But the math has changed. — Kristin Schwab, correspondent

There are few people more sensitive to gas prices in New York City than taxi drivers. Rouf Kadr is parked at a BP gas station near La Guardia Airport, filling up his yellow cab before his shift.

“I fill the gas every day, almost,” he said. “The full [tank] was like $35. Now, it’s $51.”

A gallon of unleaded here today is $3.30. Kadr said this station usually has the best deal. He opened Google Maps on his phone to compare prices at stations nearby. 

“You want to see the disaster?” he said, pointing at the screen. “Look now: $3.40, $3.36, $3.60, $3.50, $3.80.”

As the war with Iran continues and gas prices rise, Americans are feeling the pain at the pump . Though oil prices are mostly influenced by OPEC, inventory and geopolitics, research shows people’s economic sentiment greatly hinges on the price of gas. According to the National Association of Convenience Stores, 70% of consumers say gas prices affect their view of the economy.

One reason is the way gas prices are displayed, on huge, neon signs by the side of the road. There’s also the screen on the actual pump. 

“You have to stand there and watch these numbers inflate and magnify in front of you and really feel it, you know, the money flying out of your possession,” said Scott Rick, a marketing professor at the University of Michigan. “It’s very visceral.”

E&B Pawn is a clean, bright blue building in Moorestown, New Jersey, just about 15 miles outside of Philly.

“We have some standard comic books to super rare coins for sale. Cards, newer tools, laptops, electronics, of course. Gold, silver, watches…” said Ted Brigante, giving a tour of what was in stock. “Basically, we try to be like a traditional pawn shop.”

Like many pawn shops, there are two parts of the business. First, sales: People sell items to the shop, and the shop sells them to other customers. The store also offers loans for people who need quick cash but don’t want to permanently part with something valuable to them.

Loan customers get their collateral back once they pay back the principal, with interest. If customers can’t pay, the loan is extended (again, with interest). Eventually, E&B has the right to sell the items, though Brigante said at his store, they really try to avoid this.

“We’re not the first place they want to be, and they need help,” Brigante said. “We try to help them while at the same time trying to do our business.”

Most pawnshops are small and independently owned, according to the National Pawnbrokers Association. The two publicly traded pawn shop companies, FirstCash and EZCORP, reported record revenues in their last financial results, and said the balances customers are borrowing are up, too.

Take the average EZCORP loan in the U.S. At the end of last year, CFO Tim Jugmans said it had gone up to $231.

“In 2022, it was around $160, and in ‘25, the average was close to $210,” Jugmans said. “It gives you an indication — over time, this is slowly increasing, because the need for cash is increasing for customers.”

It’s payday for us, maybe for you too. Let’s enjoy this NSYNC cover, or the original by Johnny Kemp, and try not to think about how the median home price has grown, and real wages have stagnated for many, since “No Strings Attached” dropped.

By the way, have you done your taxes yet? We’ll be bringing you a bunch of great tips and coverage in next week’s newsletter. Tell a friend, or forward this one so they can sign up!