Wake up for your Wallet: What happened in July??

Welcome back to another edition of "Rolling in Dough" Newsletter, where we serve up the simplest ways to save more, spend less, and build wealth with weekly insights, consumer psychology hacks, and tiny tips to do today. I hope to make your financial journey a little fun, simple, and totally doable, where ever you are on your wealth journey.

☑️ Checking in with You & Food for Thought 🧑‍🍳 

Before we jump in, just want to check in with you. How was July?

• What was your “treat yourself” moment last month, and did it fit into your budget?

• What was your most exciting financial win, and how did you celebrate?

• What’s the most fun thing you did for free?

• If you found a surprise $400 in your pocket, what’s the first thing you would spend it on?

• What did you invest in?

• If every month were like July, would you be on track for your goals?

• What’s one of your tiny money goals for August?

  • One of mine? – buy 4 things I really love in the grocery store that do NOT require turning on the oven, so I can actually eat out less in the heatwaves lol.

🙏 : On the journey to be able to live the life of your wildest dreams, the day to day stuff matters so much. It’s super important to just check in, celebrate your financial wins, and adjust where you may have gone too far off.

Thinking about questions like these can also help visualize the ways conscious saving and spending are so important to what you want now and later in life.

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Interest Rates Holding Steady

📰 What You Need to Know: The Federal Reserve kept interest rates at 5.25% for the third month in a row. This marks the longest period of stable rates in the past two years.

🤔 And?: Steady rates boost confidence, encouraging spending and investing, which keeps the economy moving.

💰️ For Your Wallet: Steady interest rates can mean things like your savings account stays more predictable, making budgeting a bit easier.

Inflation Cool Down

📰 What You Need to Know: Inflation slowed to 3.2% annually, down from 3.5% in June. This is a significant drop from the 5.0% at the beginning of the year, showing substantial progress in controlling rising prices.

🤔 And?: Stable prices can make people feel secure about their finances, leading to more spending and investing, boosting the economy.

💰️ For Your Wallet: Lower inflation means your money goes further, making it easier to manage your budget and save more. Prices for essentials like groceries and gas are leveling out. Auto insurance though, is a whole other story, and continues to rise.

Tech Giant Earnings Reports

📰 What You Need to Know: Major tech companies like Apple, Amazon, and Google released their quarterly earnings reports, showing strong performance with year-over-year growth.

🤔 And?: Positive earnings reports can boost stock prices and investor confidence. They can also influence overall market trends and even global economic outlooks. When tech giants perform well, it can drive innovation and growth in many areas.

💰️ For Your Wallet: Strong earnings reports from tech giants can increase stock prices, individually and some times having influence across the markets, potentially boosting investment returns and overall sentiment in certain industries and parts of the stock market.

Cryptocurrency Market Movements

📰 What You Need to Know: Bitcoin and Ethereum saw significant price fluctuations, with Bitcoin reaching a new all-time high around $70,000.

🤔 And?: Big swings in cryptocurrency prices can make your investment portfolio more volatile, meaning the value can change rapidly and unpredictably.

💰️ For Your Wallet: If you're into crypto, brace yourself for a wild ride. These swings can create opportunities for big gains or losses. Diversifying your investments can help manage this risk and keep your financial journey steady.

Biden Bows Out

📰 What You Need to Know: President Biden announced he won't run for re-election in 2024, making him the first sitting president in 28 years to decide against seeking a second term.

🤔 And?: Political changes and election years can shake up the markets and make people cautious with their money.

💰️ For Your Wallet: Staying informed helps you navigate these changes without stress. It might be smart to spread out your investments to handle any ups and downs.

CrowdStrike’s Big Oops

📰 What You Need to Know: A bad software update from CrowdStrike caused widespread disruptions, affecting flights, payment systems, banks, hospitals, and more.

🤔 And?: Large tech glitches and events can mess with everyday life, and also impact the economy and affect the stock market.

💰️ For Your Wallet: Everything seems to be run on technology now, and this is a great reminder that keeping some cash handy can be a lifesaver through any disruptions. With things so digitized, it’s always good to have enough cash on hand for emergencies or a 'go' bag ready.

Heatwave Sparks Climate Action

📰 What You Need to Know: A record-breaking heatwave hit the U.S., leading to new climate change laws aimed at cutting carbon emissions, gases that trap heat in the atmosphere, by 20% over the next decade.

🤔 And?: Energy costs might go up due to higher demand for cooling, impacting your monthly budget. On the flip side, investing in green energy stocks could be a hot opportunity.

💰️ For Your Wallet: The average U.S. electric bill is expected to hit a 10-year record high, making conscious budgeting helpful. Also, people are more eco-conscious than ever, and investing in 'green' or sustainable companies like Tesla, NextEra Energy, and Enphase Energy can be both profitable and good for the planet.*

*not stock recommendations, just examples

Olympics Fever

📰 What You Need to Know: The Summer Olympics in Paris, running from July 26 to August 11, are heating up with over 300 events, including the newly added sport of breakdancing.

🤔 And?: Major events like the Olympics can boost local economies and create investment opportunities in travel, sportswear, and media companies.

💰️ For Your Wallet: The excitement and national pride can boost consumer spending, giving the economy a fun little nudge. Increased viewership also means higher advertising revenues, benefiting companies that invest in Olympic advertising.

🥇 Who’s Counting: As of 11:59 pm ET on July 31, 2024, Team USA has won 30 medals so far: 5 gold, 13 silver, and 12 bronze.

Inside Out 2 Breaks Records

📰 What You Need to Know: "Inside Out 2" became the highest-grossing animated movie of all time, surpassing $1 billion in box office revenue.

🤔 And?: Blockbuster hits drive profits for studios, theaters, and merchandise. Investing in entertainment companies can be a thrilling ride.

💰️ For Your Wallet: The buzz around big movies can drive consumer spending on related products, creating a positive ripple effect in the economy.

🥇 Who’s Counting: An estimated 40 million adults in the U.S., or approximately 18.1% of the population, experience anxiety disorders each year. (A new character, “Anxiety”, was introduced in this sequel).

WNBA All-Star Game Wows

📰 What You Need to Know: The WNBA All-Star Game set a record with 1.5 million viewers, up 25% from last year.

🤔 And?: Increased attention on women’s sports boosts the value of related brands and media. The average WNBA salary is around $130,000, compared to the NBA's $8 million, highlighting growth potential and the need for more support.

💰️ For Your Wallet: More fans attending WNBA games means more money flowing into local economies. When people buy tickets, merchandise, or spend on travel and dining around game events, they’re helping boost local businesses. This increased economic activity can lead to more jobs and opportunities in your community.