Good morning. It's Saturday, Jan. 6, and we're covering envelope budgeting, money psychology, housing market crashes, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: January 6, 2024. | Wall Street closed its worst week since Halloween with a listless Friday after reports showed workers are getting bigger raises, but key parts of the economy still don't look like they're overheating.
The S&P 500 rose 8.56 points, or 0.2%, to 4,697.24 after drifting between small gains and losses through the day. It capped the first down week for the index in the last 10, after it roared into 2024 on hopes that inflation and the overall economy are cooling enough for the Federal Reserve to cut interest rates sharply through the year.
The Dow Jones Industrial Average rose 25.77, or 0.1%, to 37.466.11 and inched closer to its record set earlier in the week. The Nasdaq composite added 13.77, or 0.1%, to 14,524.07. |
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| | Financial Maverick Insights | | | | | The Best Envelope-Budgeting Apps You Should Use to Better Manage Your Cashflow |
The envelope budgeting system has been around for a long time, and for good reason. It is a simple and easy way to control personal finances. However, since most people use cards and virtual payments, cash envelopes are no longer practical.
Goodbudget:
Goodbudget uses the principles of the envelope method but eliminates the physical envelopes. Instead of using cash, Goodbudget allows users to link their bank accounts to the app. They can then create digital envelopes and allocate money from their bank account into these "envelopes" to categorize their expenses. It makes it easier to track spending and keep tabs on available funds.
RealBudget:
If the idea of linking a bank account to a third-party app turns you off, RealBudget is for you. RealBudget is a simple and easy-to-use envelope-budgeting app. The app allows users to create an unlimited number of envelopes for various expenses. Users can allocate certain dollar amounts to each envelope. There is no need to link your bank or any other financial accounts. Best of all, the app is completely free to use, and there are zero ads!
These envelope budgeting apps can help you achieve the same results without forcing you to carry dollar bills around.
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| | | | | | 'Money psychology' is the key to unlocking financial opportunities | I managed money professionally for 15 years, and over that time I learned that being a good investor wasn't correlated with how much research I did (assuming I'd covered the basics), or even how well I understood my own approach to risk and return – although that was important.
No; the biggest impact on my funds' performance came from making accurate judgements about other investors' psychology. My first boss gave me an early valuable lesson in this.
I started my career in October 1987, and on the exact day that Wall Street crashed – "Black Monday" – I went to a pre-arranged interview for an opportunity to spend two years in New York.
I recently read The Psychology of Money by Morgan Housel, a brilliant and easily digestible book. I highly recommend it – especially if you are intending to make a New Year's financial resolution. If you're going to make a change that sticks, you'll first need to understand your own money psychology. |
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| Real Estate News |  | New Outlook on the Real Estate Market in 2024: A Roadmap for Success | New Outlook on the Real Estate Market in 2024: A Roadmap for Success - Off Plan Property Exchange |
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|  | What to expect in Fresno housing market to start 2024 | The start of the new year is a time for reassessment for many people, including those looking to make a move. |
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|  | Will the Housing Market Crash in 2024? | With mortgage rates expected to finally ease this year, some economists are split over what that means for a potential housing market crash. |
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| | Personal Finance Tips |  | Navigating Financial Assistance Can Be Tough. Not All Schools Offer Help | Outside resources are helping to fill in the gaps. |
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|  | The Only Business Idea You Need to Start Making Money | Entrepreneur | Start a business with the skills you already have without a fancy website or complicated marketing tactics. |
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|  | Budgeting When You're Broke: 10 Ways It Can Help | When you're broke, you may be feeling totally drained and overwhelmed. |
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| | Alternative Investing |  | VCs are optimistic that AI investing will move beyond the hype in 2024 | Artificial intelligence startups had a wild ride in 2023. Everyone and their grandmother tried out some sort of AI tool, startups in the space raised rounds at 2021 valuations, there were high-profile shutdowns, and then to close out the year, we had all the drama surrounding Sam Altman and OpenAI — plus New York Times' lawsuit against the company. |
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|  | Investors hedge bets on Bitcoin with $50K call options before ETF decision | Medium-term call options surge in anticipation of the upcoming Bitcoin ETF decision. |
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|  | Tesla Payment Setup Shows Serious DOGE Intent | Maverick billionaire Elon Musk has been teasing the integration of Dogecoin payments into his companies for years, but new clues suggest he is dead serious about letting customers buy Tesla vehicles with the meme coin. |
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