Tesla Layoffs, 5 Money Rules, and Supercharge Your Savings

Why more money isn't the key to more happiness...                                                                                                                                                                                                                                                                                                                                                                                                                 May 03, 2024 | [Read Online]( Good afternoon. It's Friday, May. 3 and we're covering frugal habits that people say really help them spend less money, why more money isn't the key to more happiness, why public advocacy could be key to commercial real estate success, and much more. First time reading? [Sign up here](. Stock Market Update Market Performance: May 2, 2024. Stocks jumped sharply Friday after a softer-than-expected April jobs report boosted hopes that the Federal Reserve could start cutting interest rates soon. The Dow Jones Industrial Average gained 450.02 points, or 1.18%, to settle at 38,675.68. The S&P 500 surged 1.26% to finish at 5,127.79 and notch its best day since February, while the Nasdaq Composite rallied 1.99% to close at 16,156.33. All the averages capped off a winning week. The Dow and Nasdaq rose 1.14% and 1.43%, respectively, while the S&P 500 added 0.55%. Friday’s nonfarm payrolls report showed 175,000 jobs gained in April, below the 240,000 jobs expected by economists surveyed by Dow Jones. [The unemployment rate edged up to 3.9%,]( versus 3.8% in the prior month, according to the Bureau of Labor Statistics. Wage figures also came in less than expected, an encouraging sign for inflation. Financial Maverick Insights "It Supercharged My Savings": Frugal Habits That People Say Really Help Them Spend Less Money With the cost of everything being so high these days, I'm absolutely obsessed with finding ways to save money. So when u/cucumberappleblizz asked people on Reddit to share their more unique and unexpected tips for saving money, I had to round up some of the top responses to share them with you. [Here's what people had to say:]( "If you see something you like but don't know the cost of it — in your head, assign a price you'd be happy to pay for. When you find out the price, see how much you still want it if it varies greatly from the price in your head." "I keep three or four frozen meals from Trader Joe’s in my freezer for when the urge for takeout hits." "Community events, for sure. My city library offers fun adult craft nights for free once a month. It's fun to meet new people and just relax. So far, I've taken a canvas painting class, a clay project class, and also a free sound bath/yoga class. Also, if you have a city library card, there's an app called Cloud Library to rent audiobooks and ebooks for FREE." "A tip I always tell people is to think about how much time that money took to earn. Say, if you're paid $15 an hour, and that video game costs five hours to earn, after taxes, then you worked five hours for that video game. It's a good way to teach someone to be frugal early, especially if they hate their job." "Increasing the time between recurring expenses like haircuts adds up to savings over time. I have long hair, which makes it more doable, but for example, six haircuts a year vs. four saves a lot while not actually denying you the pleasure of said haircut." "Rounding up. When tracking my spending, not only was it easier to tally, making me more likely to do it, but by rounding numbers up, it was also better because I tended to underestimate things and overspend." Why more money isn't the key to more happiness Whether you're at the top or bottom of the income ladder, people say more money makes you happier; however, there might be a catch. Money can buy happiness, but research shows it doesn't last. Let's connect the dots. Over the last few years, workers have been making more money. According to the Federal Reserve, wage growth hit a peak of 6.7% in the summer of 2022. [But moving up may not come with happiness.]( Some studies have shown that those who make more are indeed happier, but financial experts say that happiness is short-lived. The expiration date on the thrill of a raise only lasts about three months. So it may not be the money making you happy. The switch from negative financial thoughts to positive ones have a bigger impact, research shows. Experts say you can prolong that happiness by trying to save that extra income instead of spending it upfront. Real Estate News From broke to a Bravo TV star: Luxury real estate mogul Ryan Serhant’s 3 secrets for success Having empathy and the guts to bet on yourself are part of what distinguishes a good realtor from a great one, Serhant explains. Florida real estate struggles as ‘motivated’ sellers flood market Florida is seeing its inventory of homes for sale skyrocket and price growth stagnate, largely due to homebuilders rushing to accommodate a flood of newcomers. How savvy home buyers can take advantage of the revolution in real estate The National Association of Realtors' huge settlement will upend the housing market. It will also help homebuyers save thousands of dollars. Personal Finance Tips 5 Money Rules for Better Personal Finance Management in 2024 Feeling financially overwhelmed? You're not alone. In today's fast-paced world, managing money can feel like a juggling act... Financial Planning: A Step-by-Step Guide - NerdWallet Financial planning involves making an assessment of your current financial situation, and creating a plan for how to reach long- and short-term goals. You can put a price tag on the value of a personal finance education: $100,000 Many studies show that there is a strong connection between financial literacy and financial well-being. Alternative Investing Three things we learned about Apple’s AI plans from its earnings Apple CEO Tim Cook didn’t give much away about the company’s AI plans on Thursday’s Q2 earnings call with investors, but he did confirm a few tidbits about how the tech giant plans to move forward with artificial intelligence. Bitcoin, Ethereum, and Dogecoin Make a Massive Recovery on Friday After a week of lower trends, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) jumped in trading on Friday morning. Elon Musk Planning Additional Tesla Layoffs While the automaker’s previous layoffs impacted more than 10 percent of its employees, the extent of the latest cuts is unclear. Do you believe more money is the key to more happiness? [Yes]( [No]( 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. [Get In Touch]( 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! [Share the newsletter]( 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. [fb]( [tw]( [ig]( Update your email preferences or unsubscribe [here]( © 2024 Financial Maverick 19354 Watermark Drive, Suite 202 Cornelius, North Carolina 28031, United States [[beehiiv logo]Powered by beehiiv](