🌮 Finance News: March 18, 2024

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Happy Monday!🖐🏽

Don’t you love Mondays? Ugh! Someone please tell me this is all a very elaborate social experiment and we're all about to go back to bed. But seriously, coffee, where's the coffee? Well, whatever state you're all in. Let's conquer this Monday!

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🗞️ Hot off the Press

These 5 things happened while you were busy…

🌮 Can Money Buy Happiness? My Bank Account Says Maybe

The author challenges the idea that money can't buy happiness. Recent research shows a connection between income and happiness, with people reporting greater happiness as their earnings increase. There's a caveat though: for those already wealthy and unhappy, more money won't solve their problems. Read more here.

🌮 3 Investment Strategies Used by Billionaires (That You Can Too!)

The article discusses how the ultra-wealthy invest their money differently than most people. While stocks are still a favorite, a higher percentage of their portfolio goes into alternative investments like private equity. According to a survey, 27% of a high-net-worth family's portfolio is invested in private equity, compared to 31% in stocks. Read more here.

🌮 2-Minute Trick: See If Your Employer Owes You Cash

The article talks about unclaimed money that you might be owed by your previous employers. This money could be from various sources like unpaid wages, pension benefits, or even stock shares. It explains that there isn't a single source to find all unclaimed money, but there are different resources depending on the type of money you're looking for. Read more here.

🌮 Thinking of Going All-In on a Business Idea? Dave Ramsey's Warning Could Save You

Financial guru Dave Ramsey warns against risking everything on a business venture in an article on TheStreet. He compares it to "going all in" in a card game, something that can lead to disaster. He advises using spare cash, not emergency funds or retirement savings, to pursue business dreams. He also emphasizes never going into debt to start a business. Read more here.

🌮 Making More Money Than Ever, But Still Broke? You're Not Alone (This Homeowner's Story)

The article discusses the financial strain on US families due to rising debt costs. After enduring high inflation, families are now facing increasing interest rates on credit cards and auto loans. These high borrowing costs are causing delinquency rates to surge, making it harder for families to manage their finances. For the first time ever, interest payments on non-mortgage debts are as high as mortgage interest payments, highlighting the growing burden of debt. Read more here.

👀 Level Up

Read: The power of compound interest grows the more time your money is invested. Even small contributions early on can snowball into a significant amount over decades.

Watch: Graham Stephan breaks down the timeframe to save $10,000 FAST.

Take Action: Whether it's a dream retirement, a down payment on a house, or that fancy vacation, investing can help you get there. The sooner you start, the more time you have to accumulate funds and achieve your financial goals.

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