Good morning. It's Monday, March. 11 and we're covering interior designers who embrace loud budgeting, increasing cash flow, millennials talking about their money, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: March 8, 2024. | U.S. stock futures fell on Monday after the Dow Jones Industrial Average closed out its worst week since October. Investors are also looking ahead to inflation data due out later this week.
Dow Jones Industrial Average futures dipped 74 points, or 0.19%. S&P 500 futures and Nasdaq 100 futures declined 0.21% and 0.34%, respectively.
Wall Street is coming off a losing week for the major averages. The 30-stock Dow slid 0.93% last week, marking its worst performance since October. The S&P 500 dipped 0.26%, while the Nasdaq Composite dropped 1.17%. |
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| | Financial Maverick Insights | | | | | Interior Designers Want You to Embrace Loud Budgeting | What Is Loud Budgeting?
Think of loud budgeting as the antithesis of quiet luxury: While quiet luxury is all about eschewing designer labels and not broadcasting what you spend (albeit while cultivating a fancy, schmancy lifestyle worthy of celebrities and influencers), loud budgeting encourages you to be vocal about what you do and don't want to spend money on—plus, whether or not you think something is worth your hard-earned money.
How to Bring Loud Budgeting Into Your Home Decor
While loud budgeting often goes hand-in-hand with social obligations (and finding excuses to get out of them), some pros say the concept carries over surprisingly neatly into how you think about your home.
"It's about embracing an open conversation on finances, directly impacting our living spaces in a positively audacious way," says Stoy Hall, a certified financial planner and the CEO and founder of the investment advisor firm Black Mammoth. "This openness encourages us to express our individuality in our homes affordably and sustainably, debunking the myth that elegance must come with a hefty price tag. It empowers us to celebrate our financial journeys and decor choices, no matter how modest they may be."
And it's not a new idea. San Francisco designer Emilie Munroe believes loud budgeting in the home is a tale as old as time. (Or, you know, that side table you snagged for a steal at your local antique store.) "High-low design has been a cornerstone of design aesthetics for years," Munroe says, noting that she has noticed her clients being "more vocal about their economically motivated retail choices." |
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| | | | | | Increasing Cash Flow: Practical Tips for Family Law Firms in 2024 | Generating cash flow is paramount to the success and growth of your family law firm. This is especially the case during times of economic uncertainty and following periods of lower activity, such as during holiday periods.
Family lawyers are all-too-familiar with the frustration of chasing late payments, negotiating payment plans and managing deferred fee arrangements. This is time that could be better spent on providing great client service and growing your firm.
To help you enhance your firm's financial health in 2024 and give you back meaningful time, we've compiled a list of practical steps you can take to increase your cash flow and see your firm prosper.
Communicate clearly and upfront
Communication is often the cause and solution to most problems. Avoiding late payments starts with clear communication about your family law firm's expectations. Be upfront and transparent about your firm's payment terms, billing frequency, and the consequences for non-payment. If you need to revise your cost estimate, do so as early as possible.
Request funds in trust
Requesting funds in trust at the outset of the matter establishes early on that the law firm expects payment, and that the client is committed to their matter and paying their fees. You may surface concerns or payment challenges which are more helpfully dealt with sooner rather than later.
Experiment with new communication channels
Consider experimenting with a variety of communication channels to reach out to clients about their outstanding invoices. If clients aren't replying to email, try giving them a call or send them a text.
Automate your payment reminders
If you haven't done so already, set up automated payment reminders so clients receive notifications as their payment due dates approach. Try incorporating text messages as discussed above. This can help clients to promptly settle their bills on time without the need for manual follow-up from your team. You can also set up reminders after payment is overdue. |
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| Real Estate News |  | Interest deductibility is back: What will it mean for the housing market? | A fiscal flip is taking place with the Government phasing back in the interest deductibility rules the previous Labour government had been phasing out. |
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|  | Property Management Success: Trends, Strategies, Innovations | Check out our monthly series that covers anything and everything related to commercial property management. |
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|  | Top Stock Picks: 3 Real Estate Stocks Building Success in 2024 | With potential Fed rate cuts comes a build in bullish momentum for the real estate stocks of 2024, with these winners in front. |
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| | Personal Finance Tips |  | Loud Budgeting Is Shifting How We Think About Spending -- and Experts Love It | The TikTok trend makes it OK to say "no" to FOMO. |
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|  | Suze Orman Says This 'Foolproof' Strategy Will Help You Pay Off Credit Card Debt Fast | Money expert Suze Orman shares her best debt payoff strategy. |
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|  | Millennials Are Talking About Their Money — Here's Why That's Good | Compared to older generations, millennials are more likely to be open about their finances. This fiscal transparency is an extension of the way younger adults live their lives, according to David... |
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| | Alternative Investing |  | Bitcoin is about to undergo another 'halving' event — here's what that means | Previous halvings have powered the cryptocurrency higher by reducing the number of new tokens in circulation. |
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|  | Elon Musk sues Open AI and co-founder over alleged switch to for-profit | Elon Musk has sued the non-profit Open AI and it's co-founder Sam Altman over the company allegedly moving to a for-profit company. Open AI responded to the claims by releasing e-mails between the company and Musk. |
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|  | 11 Best Artificial Intelligence Stocks Under $20 According To Hedge Funds | Artificial intelligence stocks are all the rage. Investors are constantly searching for the next big winner in artificial intelligence. |
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