Good morning. It's Wednesday, Feb. 28 and we're covering going over your credit card limit, helping you save for your dream vacation, New York's biggest commercial property deals, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: February 27, 2024. | US stocks closed mixed on Tuesday after a pullback from all-time highs, with retail earnings on tap to occupy investors counting down to a crucial inflation report.
The Dow Jones Industrial Average (^DJI) closed down just below 0.3% while the S&P 500 (^GSPC) picked up some late trading momentum to finish the day around 0.2% higher. The Nasdaq Composite (^IXIC) led the major indexes, closing up roughly 0.4%.
Stocks have lost steam as investors regroup after the tumultuous run-up last week and as focus sharpens on the health of the US economy. Looming over investors is the PCE index report due Thursday, a key inflation input into the Federal Reserve's rate-setting decisions. |
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| | Financial Maverick Insights | | | | | What Happens If You Go Over Your Credit Card Limit? | Your credit limit is simply the amount of credit a lender extends to you for a particular credit card or line of credit. Whether you're new to carrying a credit card or you have years of credit history under your belt, there may be a point where you wonder what happens if you go over your credit card limit.
This isn't a surprising question given how credit card balances continue their rise in the U.S.. The average credit card balance in 2023 is now $6,365, according to credit reporting agency Experian, which may put more consumers at risk of going over their credit limit at some point. We explore what you can expect if you go over your credit card limit — and what to do about it if it does happen.
What to expect when you max out a credit card
If you end up making a purchase that tips you over your credit limit, then you can expect one or more scenarios to take place.
What it means to max out your credit cards — and 2 steps that can help
Maxing out your credit cards means you've made so many purchases that you no longer have any room left on your credit line. It also means you won't have the option of making new purchases until you pay down your balance and add more room to the credit line. While it's not unheard of to go over your credit limit, doing so has the potential to negatively affect your credit score.
If you have a history of on-time payments, you can ask your credit card company if it's willing to increase your credit limit. If they do offer a credit limit increase, that increase can also help to lower your credit utilization. |
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| | | | | | Cost-Cutting Tips to Help You Save for Your Dream Vacation | What comes to mind when you think about taking the trip of a lifetime? Whether it involves donning cold-weather gear and setting foot on a glacier in Antarctica, cruising past the Big Five on an African safari, or something equally grand, it's bound to be a pretty expensive feat. And aside from the usual budgeting tips you've likely come across—like traveling during shoulder seasons and opting for shared accommodations or transportation whenever possible—you're going to need to save up a significant amount of cash to make that bucket list dream vacation come true.
That's why we hashed out the best ways to organize everything from an extravagant weekend getaway to a long-haul round-the-world adventure without breaking the bank, with tips from financial experts and professional travel writers who've done it themselves.
First, figure out exactly how much money you'll need
When it comes to tallying up your budget for a trip, your first step should be researching how much things cost so you can get a better idea of how much you'll need to spend.
"Plan your trip meticulously to avoid unnecessary expenses—map out your daily activities, transportation routes, and accommodation options in advance," says Hashimoto. "This will help you identify potential cost-saving opportunities and avoid last-minute splurges."
Travel blogger Riana Ang-Canning, who celebrated her honeymoon in New Zealand in 2023, says it's all about looking ahead and tailoring your budget to your interests. By adding up all the known costs for things like flights, hotels, transportation, and pre-booked activities as well as estimating additional funds needed for gas, food, and other incidentals, the couple was able to come up with a more accurate figure to aim for.
Once in New Zealand, Ang-Canning continued to track their expenses. Researching prices before they left also allowed them to budget in a few splurges along the way, including lounge passes for the airport and an overnight cruise to beautiful Doubtful Sound on New Zealand's South Island. |
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| Real Estate News |  | NAR Outlines 2024 Advocacy Goals | Advocacy efforts will focus on keeping must-have programs going, like flood insurance, and pushing for programs that increase listings and boost fair housing efforts. |
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| :quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/LUQ4RGWN4LF5LA2HWGUA4F2LRY.jpg) | The real estate agent mapping out New York's biggest commercial property deals | 'It's not really the real estate business; it is the information business,' says Bob Knakal who has sold 2,329 properties since he first started in 1984 |
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|  | Housing market shows pent-up demand as new home sales slow | In the month of January, new home sales rose less than expected, with only 661,000 new homes sold. |
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| | Personal Finance Tips |  | You don't need everything you want | Our expectations around money are all out of whack. |
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|  | Six Steps for Personal Budgeting | Pinnacle Financial Partners | Six Steps for Personal Budgeting |
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|  | Smart Money Management: The Best Trends and Tools | Manage your money better using the best tools technology has to offer. |
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| | Alternative Investing |  | Elon Musk calls on Microsoft CEO for laptop issues | Elon Musk got a new laptop over the weekend, and X heard all about his IT problems. |
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|  | JPMorgan Changes Tune on Crypto as Bitcoin Surges | In a reverse course that no one saw coming, JPMorgan has changed its tune on crypto amid the ongoing Bitcoin surge. |
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|  | Microsoft Just Invested in This French AI Startup to Capitalize on 'Entirely New Businesses' | The partnership with Paris-based Mistral comes shortly after the FTC announced an inquiry into Microsoft's $13 billion investment in OpenAI. |
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