Good morning. It's Thursday, April. 4 and we're covering the 100 envelope savings challenge, best travel deals on a budget, the mindset of focusing on the broker's success, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: April 3, 2024. | US stocks were little changed Wednesday as Federal Reserve Chair Jerome Powell reiterated the Fed will likely cut interest rates this year amid inflation's "bumpy" path downward.
The S&P 500 (^GSPC) rose about 0.1%, while the Dow Jones Industrial Average (^DJI) fell around the same amount. The tech-heavy Nasdaq Composite (^IXIC) rose more than 0.2%, as the major gauges stemmed early-week performances that left stocks in a sea of red.
Stocks had drifted away from their strong start to the year as robust economic data undermined hopes for three Fed rate cuts. Investors have scaled back their bets to the point where they expect a smaller, later easing than policymakers have projected. |
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| | Financial Maverick Insights | | | | | How the 100 Envelope Savings Challenge Can Help You Meet Your Savings Goals | A survey by The Motley Fool Ascent from July 2023 found that the typical American has $1,200 in their savings account. While having any money saved is a good thing, there's no denying that it can be hard, especially when there are so many other financial obligations to consider. If you haven't heard of it, the 100 Envelope Savings Challenge is one way to slip into the habit of saving one dollar at a time.
How it works
The 100 Envelope Savings Challenge can be adjusted to work for you. My niece purchased an inexpensive notebook designed specifically for the challenge. The notebook has 25 plastic pages, each with four small pockets (or envelopes). Each pocket is numbered from 1 to 100. On the first day, you slide $1 in pocket No. 1. On the second day, you place $2 in pocket No. 2, and so on, until all the pockets are filled. By the time you've filled them all, you have saved a total of $5,050.
This challenge could be great for kids
On Monday, as I sat on the family room floor, neatly folding small bills and sliding them into pockets, I thought about how much fun my kids would have had with this when they were young. We could decide together what we should save for and keep careful track of our progress.
It wouldn't teach them anything about the importance of compound interest, but it would have helped get them into the habit of tucking extra money away. If you're looking for a way to meet a savings goal, doing it $1 at a time really can work. |
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| | | | | | Best Travel Deals to Help You Get Away on a Budget | Travel deals and promos are making that vacation getaway to far-off places or cozy staycations more obtainable. Rather than put that beachside getaway off for another month, you can take advantage of savings up to 50% and paired with luggage deals, you can travel the world more affordably.
Jet off at a fraction of the price as airlines slash prices for throughout the year to help you fly, for less. No matter where you want to go, don't drop hundreds of dollars on a round-trip ticket. Check below to see the current best flight deals are. Southwest Airlines is hosting a low-fare sale with one-way flights as low as $39. From now until April. 11, you can take advantage of these major savings.
The discount is valid on select continental U.S. flights from April 23-June 5 and Aug. 6-Nov. 20, 2024. Hawaii, international, San Juan and Puerto Rico trips are valid from Aug. 20-Nov. 20 and blacked out on Sept. 3.
What Are the Best Hotel Deals?
Flights aren't the only thing to think about. Booking a hotel room can be just as pricey, leaving you with little to spend on food and activities. Don't worry, though, these deals are here to swaddle you in savings.
Hilton's Resorts World Las Vegas wants to get you in the traveling spirit with up to 20% off the best available rate during their Endless Summer promo. As an added bonus, you can check out the current Las Vegas residencies here to add to your growing itinerary.
Hotwire aims to find some of the deepest discounted hotels — like up to 60% off. Some stays are as low as $81/night, which means you can book your stay for less than $100/night.
What Are the Best Rental Car Deals?
Not every destination will have the luxury of public transportation at your fingertips and if you want to do some road exploring of your own, then you'll need a car. Thankfully, we've rounded up the best deals available below. Kayak isn't afraid to floor it when it comes to offering great deals on cars. The rental service compares the price of competitor and aims to offer at least 32% off the full price.
What Are the Best Cruise Deals?
Sail around the islands and escape the city with a cruise that'll bring photo-worthy moments and memories to last a lifetime. Travel Tuesday deals are also making sure you don't have to break the bank either, so you can enjoy your vacation without avoiding your wallet's gaze.
Hurtigruten Expeditions is slashing prices on expeditions by up to 45% off. Plus, if you become an ambassador with the cruise brand, you can receive an additional 5% off on bookings and experiences. |
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| Real Estate News |  | First-time homebuyers are struggling to get their first place due to difficult housing market conditions | The difficult housing market conditions include low inventory and the highest home prices ever. |
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|  | The Mindset of Focusing on the Broker's Success | Jabin Norris Founder/Owner PROACTIVE Real Estate, a member of Leading Real Estate Companies of the World® Holden Beach, North Carolina |
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|  | Should you sell your home now or wait for the Realtor settlement this summer? | Listing your home in the spring used to be a no-brainer. But a major real estate shakeup is complicating the equation. |
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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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|  | Money on Autopilot: The Future of AI x Personal Finance | Andreessen Horowitz | Thanks to generative AI, the much-discussed topic of "self-driving money" finally has a chance to achieve its potential. |
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|  | Here's How Much Debt the Average American Has | Excluding mortgages, the most common source of debt comes from credit cards. |
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| | Alternative Investing |  | Bitcoin, Ethereum racing to 'a billion at 2x speed of Internet' on this front | Raulo Pal expects a 50% rise in global crypto users, from 500M in 2023 to 1 billion by 2025. |
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|  | Stock market crashes are rare, equity bubbles even rarer | If you're sure we're in a mass-market equity bubble, you probably have to rely on instinct as to what happens next as there are precious few historical examples to guide you as to when, where or even if it will implode. |
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|  | 'Big Short' money manager puts money behind China big tech | Michael Burry, the money manager made famous in the Big Short, added to wagers on Chinese tech giants Alibaba Group Holding Ltd. and JD.com Inc. in recent months even as a rout in Chinese shares deepened. |
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| | Should you sell your home now or wait for the Realtor settlement this summer? | | | Reach Over 100,000 Financial Mavericks | Advertise with Financial Maverick to get your brand in front of the Financial Gurus in the world. The Mavericks are high-income and highly knowledge people who are always looking for an interesting product or tool. | | | Share Financial Maverick | Calling all Financial Mavericks! To help out a family and friend in need by sharing this newsletter. Tell you what if you ever wanted to be a Hero, Financial Guru, or a Nice Person this is your time! | | | DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. | |
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