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This is an excerpt from Dollar Scholar, the Money newsletter where news editor Julia Glum teaches you the modern money lessons you NEED to know. Don't miss the next issue! Sign up at money.com/subscribe and join our community of 160,000+ Scholars.
A few weeks ago, ahead of my first Eras Tour show, my TikTok “for you” page became overrun with videos of Taylor Swift fans making jewelry. She has a lyric that references friendship bracelets, so it’s become trendy to bring kindergarten-style bangles to her concerts and trade with other fans.
That’s all it took. I headed to Amazon and entered a fugue state. When I came to, I had paid $12 for a 5-pound box of beads.
You read that right: FIVE. POUNDS.
Do you know how many beads 5 pounds of beads is? Hint: It’s a lot. According to Google, 1 pound of beads is equal to roughly 1,800 beads, so multiply that times five and you get 9,000. Yes, there are at least 9,000 beads in my tiny Brooklyn apartment.
In retrospect, 5 pounds of beads is way too many beads, but I’m a sucker for a trend. Even in the personal finance world — and right now, tons of people are investing in money market funds. They’re having a moment, and I want to know why.
