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%.

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.

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

Alternative Investing