The Money Section | How to get the best deal on used cars

Also, mortgage rates drop to lowest level in 16 months. ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     [The Charlotte Observer](~/AAQRxQA~/RgRosvfYP0QiaHR0cHM6Ly93d3cuY2hhcmxvdHRlb2JzZXJ2ZXIuY29tL1cDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~) ͏ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ August 29, 2024 • Issue #100 [The Money Section] Welcome to the 100th issue of The Money Section! In a way, August 2024 is the inverse of September 2022 – the month we started this newsletter. Back then, the Fed continued raising interest rates to combat rampant inflation. Now, as inflation has cooled, a rate cut in September looks all but inevitable. Thanks for trusting us as your financial resource; we don’t take you for granted. We hope to provide you with helpful news and insights for years to come. This week: We’re looking at how to get the best deal on used cars, an investing strategy that can help close the gender gap (and make you money), and what parents think an ‘affordable’ college degree means. As used car prices fall, here’s how to get the best deal [Car illustration with price tag on rear bumper](~/AAQRxQA~/RgRosvfYP0SNaHR0cHM6Ly93d3cuc2FjYmVlLmNvbS9tb25leS91c2VkLWNhci1wcmljZXMtZmFsbC1iZXN0LWRlYWxzLz94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlMTAwVwNzcGNCCmbP2XLQZnAkfIpSG3RyaXN0cmFtYmFsZHdpbjg5QGdtYWlsLmNvbVgEAAADTg~~) Money; Getty Images The Federal Reserve is expected to lower interest rates in September, but the magnitude of the cut is uncertain. While a quarter-point decrease is widely predicted, some experts anticipate a larger, potentially emergency cut of 50 or even 75 basis points due to economic concerns. Read more. Used car prices have dropped 5% over the last year, reaching their lowest levels in three years. While prices are still higher than pre-pandemic levels, you can still find some great deals out there. [Here's how.](~/AAQRxQA~/RgRosvfYP0SNaHR0cHM6Ly93d3cuc2FjYmVlLmNvbS9tb25leS91c2VkLWNhci1wcmljZXMtZmFsbC1iZXN0LWRlYWxzLz94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlMTAwVwNzcGNCCmbP2XLQZnAkfIpSG3RyaXN0cmFtYmFsZHdpbjg5QGdtYWlsLmNvbVgEAAADTg~~) ⬇️ [Cryptocurrencies fall as investors brace for Nvidia earnings.](~/AAQRxQA~/RgRosvfYP0Q4aHR0cHM6Ly93d3cuY25iYy5jb20vMjAyNC8wOC8yNy9jcnlwdG8tbWFya2V0LXRvZGF5Lmh0bWxXA3NwY0IKZs_ZctBmcCR8ilIbdHJpc3RyYW1iYWxkd2luODlAZ21haWwuY29tWAQAAANO) Cryptocurrencies dropped on Wednesday, with Bitcoin falling 5% to $58,537 and Ether down over 4% to $2,470. The decline is linked to investor caution ahead of Nvidia's earnings, liquidations in the futures market, and selling pressure from Mt. Gox distributions and U.S. government holdings. 🏠[Mortgage rates drop to lowest level since April 2023.](~/AAQRxQA~/RgRosvfYP0RbaHR0cHM6Ly93d3cuY2JzbmV3cy5jb20vbmV3cy9tb3J0Z2FnZS1yYXRlcy0yMDI0LWxvd2VzdC1zaW5jZS1hcHJpbC0yMDIzLXJhdGUtY3V0LWZvcmVjYXN0L1cDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~) The average rate for a 30-year fixed mortgage has dropped to 6.44%, the lowest since April 2023, spurring more mortgage applications as borrowing costs ease. Despite this decline, homebuyers remain cautious, partly due to higher home prices and concerns over economic weakness. An investing strategy that can help close the gender wealth gap? [Collage of woman and finance instruments in background](~/AAQRxQA~/RgRosvfYP0SQaHR0cHM6Ly93d3cua2Fuc2FzY2l0eS5jb20vbW9uZXkvZ2VuZGVyLWxlbnMtaW52ZXN0aW5nLXN0cmF0ZWd5Lz94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlMTAwVwNzcGNCCmbP2XLQZnAkfIpSG3RyaXN0cmFtYmFsZHdpbjg5QGdtYWlsLmNvbVgEAAADTg~~) Money; Getty Images Despite efforts to close the income gap, women still earn only 82 cents for every dollar men make – regardless of education level. However, there's a growing movement towards gender lens investing, which focuses on supporting businesses and causes that promote gender equality. [Here's how it works.](~/AAQRxQA~/RgRosvfYP0SQaHR0cHM6Ly93d3cua2Fuc2FzY2l0eS5jb20vbW9uZXkvZ2VuZGVyLWxlbnMtaW52ZXN0aW5nLXN0cmF0ZWd5Lz94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlMTAwVwNzcGNCCmbP2XLQZnAkfIpSG3RyaXN0cmFtYmFsZHdpbjg5QGdtYWlsLmNvbVgEAAADTg~~) 💰 [Crypto millionaire population jumps 95% in one year.](~/AAQRxQA~/RgRosvfYP0RKaHR0cHM6Ly9iaXRjb2luaXN0LmNvbS9jcnlwdG8tbWlsbGlvbmFpcmUtcG9wdWxhdGlvbi1qdW1wcy05NS1pbi1vbmUteWVhci9XA3NwY0IKZs_ZctBmcCR8ilIbdHJpc3RyYW1iYWxkd2luODlAZ21haWwuY29tWAQAAANO) The number of crypto millionaires has surged by 95% over the past year, driven by the rise of Bitcoin ETFs and significant increases in cryptocurrency values. The Crypto Wealth Report 2024 reveals there are now about 172,300 crypto millionaires, with Bitcoin millionaires doubling to 85,400. 🤑 [Berkshire Hathaway just hit $1 trillion market value.](~/AAQRxQA~/RgRosvfYP0RwaHR0cHM6Ly9lZGl0aW9uLmNubi5jb20vMjAyNC8wOC8yOC9tYXJrZXRzL2JlcmtzaGlyZS1oYXRoYXdheS1vbmUtdHJpbGxpb24vaW5kZXguaHRtbD91dG1fc291cmNlPWJ1c2luZXNzX3JpYmJvblcDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~) Berkshire Hathaway just became the first non-technology company in the U.S. to reach this milestone. While tech giants like Apple, Nvidia, and Microsoft lead with valuations over $3 trillion, Berkshire Hathaway, founded in 1839 and led by Warren Buffett since 1965, briefly hit the $1 trillion mark on Tuesday. Here’s what parents think an ‘affordable’ college degree means [College](~/AAQRxQA~/RgRosvfYP0SaaHR0cHM6Ly93d3cuY2hhcmxvdHRlb2JzZXJ2ZXIuY29tL21vbmV5L2FmZm9yZGFibGUtY29sbGVnZS1kZWdyZWUtbm8tZGVidC8_eGlkPW1jY2xhdGNoeSZ1dG1fc291cmNlPW1jY2xhdGNoeSZ1dG1fbWVkaXVtPXJzc19zeW5kJnV0bV9jb250ZW50PXRtc19pc3N1ZTEwMFcDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~) Getty Images A recent survey revealed that 52% of parents consider "affordable" college costs to mean not going into debt. Concerns over the high cost of college have grown, with parents shifting their focus from career prospects to minimizing debt for their children. [Read more.](~/AAQRxQA~/RgRosvfYP0SaaHR0cHM6Ly93d3cuY2hhcmxvdHRlb2JzZXJ2ZXIuY29tL21vbmV5L2FmZm9yZGFibGUtY29sbGVnZS1kZWdyZWUtbm8tZGVidC8_eGlkPW1jY2xhdGNoeSZ1dG1fc291cmNlPW1jY2xhdGNoeSZ1dG1fbWVkaXVtPXJzc19zeW5kJnV0bV9jb250ZW50PXRtc19pc3N1ZTEwMFcDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~) 🚗 [Car insurance premiums could skyrocket 50% in some states this year.](~/AAQRxQA~/RgRosvfYP0ReaHR0cHM6Ly93d3cuZm94YnVzaW5lc3MuY29tL2Vjb25vbXkvY2FyLWluc3VyYW5jZS1wcmVtaXVtcy1jb3VsZC1za3lyb2NrZXQtNTAtc29tZS1zdGF0ZXMteWVhclcDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~) Auto insurance premiums have surged, with the average U.S. rate reaching $2,329 in early 2024—a 15% increase from 2023 and 48% higher than in 2021. Costs are expected to rise further by year-end, with some states facing increases over 50%. 🐢 [U.S. house prices fall on monthly basis in June.](~/AAQRxQA~/RgRosvfYP0RWaHR0cHM6Ly93d3cucmV1dGVycy5jb20vbWFya2V0cy91cy91cy1ob3VzZS1wcmljZXMtZmFsbC1tb250aGx5LWJhc2lzLWp1bmUtMjAyNC0wOC0yNy9XA3NwY0IKZs_ZctBmcCR8ilIbdHJpc3RyYW1iYWxkd2luODlAZ21haWwuY29tWAQAAANO) In June, U.S. single-family home prices fell slightly by 0.1%, marking the smallest annual increase in nearly a year at 5.1%. While price growth is expected to slow further, a major decline is unlikely unless the job market weakens significantly. Smart Money Move How to protect against rising car insurance prices [Colorful 3D car icon](~/AAQRxQA~/RgRosvfYP0R3aHR0cHM6Ly9zZWN1cmUubW9uZXkuY29tL3ByL2xhYjAyMmRmZTNmNT94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlOTZXA3NwY0IKZs_ZctBmcCR8ilIbdHJpc3RyYW1iYWxkd2luODlAZ21haWwuY29tWAQAAANO)Car insurance prices are set to jump 22% by the end of the year, according to a new study. However, that doesn't mean your payments have to increase as well. To mitigate costs, drivers are encouraged to regularly shop around and explore discounts. It's easy, fast, and could save you hundreds a year. [View Money’s Best Car Insurance list to shop around and see if you can save.](~/AAQRxQA~/RgRosvfYP0R4aHR0cHM6Ly9zZWN1cmUubW9uZXkuY29tL3ByL3pjOTVhODI4Y2ZkYT94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlMTAwVwNzcGNCCmbP2XLQZnAkfIpSG3RyaXN0cmFtYmFsZHdpbjg5QGdtYWlsLmNvbVgEAAADTg~~) ADVERTISEMENT ~/AAQRxQA~/RgRosvfYP4Q7AWh0dHBzOi8vd3d3LmFkdC5jb20vP2VjaWQ9Ul9ETV9QUk5fREVGX0FEVF9CUDJMLU1BSU4mdXRtX3NvdXJjZT1tb25leS5jb20mdXRtX21lZGl1bT1wYXJ0bmVyc2hpcHMmdXRtX2NhbXBhaWduPUJQTCZ1dG1fY29udGVudD1NY0NsYXRjaHlTZW5kJmNhY2xpZD0xNDM3Mzk2YjY2YTYyODhkZjhmNThlMjY4YjRjYTllNC0xNzAzMTcyNzY5MzAxMjQ4LTU0ODMxM19fMTcyMzY1MjA0NF81NTU0OCZjYW1wYWlnbl9zdWJfaWRfMT0xNDM3Mzk2YjY2YTYyODhkZjhmNThlMjY4YjRjYTllNC0xNzAzMTcyNzY5MzAxMjQ4LTU0ODMxM19fMTcyMzY1MjA0NF81NTU0OFcDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~ Stories we’re reading this week - [Here's How to Rebalance Your Investments Ahead of (and During) Retirement](~/AAQRxQA~/RgRosvfYP0SYaHR0cHM6Ly9tb25leS5jb20vaG93LXRvLXJlYmFsYW5jZS1pbnZlc3RtZW50LXBvcnRmb2xpb3MtZm9yLXJldGlyZW1lbnQvP3hpZD1tY2NsYXRjaHkmdXRtX3NvdXJjZT1tY2NsYXRjaHkmdXRtX21lZGl1bT1yc3Nfc3luZCZ1dG1fY29udGVudD10bXNfaXNzdWUxMDBXA3NwY0IKZs_ZctBmcCR8ilIbdHJpc3RyYW1iYWxkd2luODlAZ21haWwuY29tWAQAAANO) - [The Controversial California AI Bill That Has Divided The Tech World](~/AAQRxQA~/RgRosvfYP0RRaHR0cHM6Ly93d3cuYXhpb3MuY29tLzIwMjQvMDgvMjgvY2FsaWZvcm5pYS1haS1yZWd1bGF0aW9uLWJpbGwtZGl2aWRlcy10ZWNoLXdvcmxkVwNzcGNCCmbP2XLQZnAkfIpSG3RyaXN0cmFtYmFsZHdpbjg5QGdtYWlsLmNvbVgEAAADTg~~) - [Pumpkin Spice-flation? Prices for Starbucks’ Famous Latte Have Nearly Doubled](~/AAQRxQA~/RgRosvfYP0SVaHR0cHM6Ly93d3cubmV3c29ic2VydmVyLmNvbS9tb25leS9wdW1wa2luLXNwaWNlLWxhdHRlLWNvc3QtaW5jcmVhc2UvP3hpZD1tY2NsYXRjaHkmdXRtX3NvdXJjZT1tY2NsYXRjaHkmdXRtX21lZGl1bT1yc3Nfc3luZCZ1dG1fY29udGVudD10bXNfaXNzdWUxMDBXA3NwY0IKZs_ZctBmcCR8ilIbdHJpc3RyYW1iYWxkd2luODlAZ21haWwuY29tWAQAAANO) - [Circle K Offering 40 Cents Off Gas Ahead Of Labor Day Weekend In Some States](~/AAQRxQA~/RgRosvfYP0RXaHR0cHM6Ly93d3cudXNhdG9kYXkuY29tL3N0b3J5L21vbmV5LzIwMjQvMDgvMjgvY2lyY2xlLWstZ2FzLWRlYWwtNDAtY2VudHMvNzQ5NjU2NzkwMDcvVwNzcGNCCmbP2XLQZnAkfIpSG3RyaXN0cmFtYmFsZHdpbjg5QGdtYWlsLmNvbVgEAAADTg~~) - [Here’s How Much Money Americans Think They Need to Be ‘Wealthy’ Today](~/AAQRxQA~/RgRosvfYP0SKaHR0cHM6Ly93d3cuc2FjYmVlLmNvbS9tb25leS9ob3ctbXVjaC1tb25leS10by1iZS13ZWFsdGh5Lz94aWQ9bWNjbGF0Y2h5JnV0bV9zb3VyY2U9bWNjbGF0Y2h5JnV0bV9tZWRpdW09cnNzX3N5bmQmdXRtX2NvbnRlbnQ9dG1zX2lzc3VlMTAwVwNzcGNCCmbP2XLQZnAkfIpSG3RyaXN0cmFtYmFsZHdpbjg5QGdtYWlsLmNvbVgEAAADTg~~) - [Eli Lilly Lowering Weight Loss Drug Prices](~/AAQRxQA~/RgRosvfYP0RPaHR0cHM6Ly90aGVoaWxsLmNvbS9wb2xpY3kvaGVhbHRoY2FyZS80ODQ5NzYyLWVsaS1saWxseS1sb3dlcnMtemVwYm91bmQtcHJpY2VzL1cDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~) - [How to Pay Off Student Loans Fast](~/AAQRxQA~/RgRosvfYP0SUaHR0cHM6Ly93d3cubWlhbWloZXJhbGQuY29tL21vbmV5L2hvdy10by1wYXktb2ZmLXN0dWRlbnQtbG9hbnMtZmFzdC8_eGlkPW1jY2xhdGNoeSZ1dG1fc291cmNlPW1jY2xhdGNoeSZ1dG1fbWVkaXVtPXJzc19zeW5kJnV0bV9jb250ZW50PXRtc19pc3N1ZTEwMFcDc3BjQgpmz9ly0GZwJHyKUht0cmlzdHJhbWJhbGR3aW44OUBnbWFpbC5jb21YBAAAA04~) The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive The Money Section from The Charlotte Observer. 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