Good morning. It's Friday, March. 08 and we're covering ways I save more on bills than my neighbors do, Americans think this much money will make them happy, tips on how to become a real estate agent in 2023, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: March 07, 2024. | S&P 500 futures turned higher Friday as traders anticipated the release of February's jobs report.
Futures linked to the broad market index rose 1%, while Dow Jones Industrial Average futures were higher by 130 points, or 0.34%. Nasdaq 100 futures slid by about 0.17%.
In after-hours trading, semiconductor manufacturer Broadcom slipped 3% after issuing full-year revenue guidance that was in line with analysts' expectations. Costco shares dropped 4% after the retailer posted quarterly revenue that missed the Street's estimates.
Stocks climbed during Thursday's regular session, with tech lifting the S&P 500 and the Nasdaq Composite to all-time highs. The broad market index gained 1% and closed at a new record, while the tech-heavy Nasdaq added 1.5%. The 30-stock Dow ticked higher by 0.3%. |
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| | Financial Maverick Insights | | | | | Ways I Save More on Bills Than My Neighbors Do | The average American household spends $5,577 a month on everyday expenses like housing, utilities, food, transportation and entertainment, according to Zippia. But expenses depend heavily on things like household size, neighborhood and individual needs. Many people end up spending more than the average because of this.
With the cost of living so high throughout the country, and wages not quite keeping up, finding ways to cut down on household expenses is not just sensible — it's also necessary.
Cutting Energy Bill Costs
The average monthly energy bill in the United States is $146, according to SaveOnEnergy. However, certain states — like Hawaii, Connecticut and Texas — have notoriously higher energy costs.
Lower the Water Bill
According to the most recent WaterSense data, the average American household spends over $1,000 on the water bill in a year. But there are some simple ways to cut costs here, too. This includes fixing leaks, using water-efficient appliances and avoiding long showers.
Switching Phone Bill Providers
The average monthly phone bill is $144, according to JD Power, though some phone plans cost significantly less. Certain providers also charge additional fees, such as for data usage or late fees.
Shopping Generic Brands and Dining in
The average person spends between $250 and $550 on food each month, depending on their dietary needs, location and other personal factors. This is anywhere from $3,000 to $6,600 per year. |
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| | | | | | Americans Think This Much Money Will Make Them Happy, But Will It Really? | By many accounts, the American economy is doing pretty well. The stock market is at an all-time high and unemployment sits at just 3.9%, both numbers that are especially impressive given that we are approaching the third year of the COVID-19 pandemic which has caused massive interruptions to normal life, including financially.
Still, a recent survey from retirement services provider Empower Retirement and financial services company Personal Capital finds that only 34% of Americans consider themselves "very financially healthy," a 14% drop from March 2021.
What You Need to Feel Financially Secure
At the end of the day, only one thing really makes people feel financially secure -- having enough cold, hard cash on hand to guarantee you can weather most storms that life may throw at you or at society as a whole. This begs the question, then -- how much money does it take to feel financially secure?
The survey found that a person needs to earn $128,000 a year in order to feel financially secure. Of course, this number may be impacted by any number of other factors including the cost of living where you reside, potential family money and previous savings. Still, that is a fairly high number -- the Census Bureau found that the median household income for 2020 was just $67,521.
What Are Americans Doing for Financial Health in 2022?
Even though many Americans don't feel financially secure, that doesn't mean families aren't taking steps to get more financially healthy in the coming year.
According to this study, the following are the top five financial goals Americans have for the coming year:
1. Paying off debts
2. Saving for retirement
3. Building an emergency fund
4. Getting a new job
5. Paying for college |
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| Real Estate News |  | Business Success: About the Property Investment Applicants | Success Stories and the Impact of Success |
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|  | The housing market may finally be thawing as mortgage rates and housing inventory improve | Mortgage rates and housing inventory are moving in opposite directions as March kicks off, suggesting the market may be loosening. |
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|  | Tips on how to become a real estate agent in 2023 | Do you enjoy working with the public and building relationships? Are you interested in the real estate market and seeking a career change? |
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| | Personal Finance Tips |  | 10 savings accounts with buckets that make it easy to save for goals, like an emergency fund or travel | Ally, Betterment, and Capital One 360 are just a few banks that have savings accounts with buckets so you can save for individual goals. Start saving today. |
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|  | 'Blood Money': Inside the global business of selling plasma | Rebroadcast: Millions of Americans sell their blood plasma every year. It's part of a global, multibillion dollar business. But what is plasma really used for? |
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|  | Here's How Setting a Weekly Savings Goal Could Help You Fulfill Your New Year's Resolutions | Have a big financial goal to meet this year? Read on for a great strategy to help you achieve it. |
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| | Alternative Investing |  | Jeff Bezos is once again the world's richest person thanks to the Big Tech rally | It's been more than two years since Amazon founder Jeff Bezos was the world's richest person, but he's now back in the lead again. |
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|  | Jim Cramer Picks These 4 Stocks As Better AI Investments Alongside Nvidia, Skips Super Micro Computer | CNBC's "Mad Money" host Jim Cramer has suggested that there are better investment options in the artificial intelligence (AI) sector than Super Micro Computer Inc. |
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|  | Bitcoin hits record high. Here's what's driving up the price. | The price of bitcoin has reached a record high, continuing its rapid resurgence that began in late 2023. |
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