AI-Generated Trickery, Last-Minute Tax Tips, and SME Success

The 'three stooges' of investing: How to avoid investing traps

Good morning. It's Tuesday, April. 2 and we're covering a blueprint for SME success, top books on investment, trading and stock market, HGTV stars share ‘hack’ on how to become homeowners, and much more.

First time reading? Sign up here.

Stock Market Update

Market Performance: April 1, 2024.

Stock futures slipped Monday night after the S&P 500 and the Dow Jones Industrial Average kicked off April with declines.

S&P 500 futures ticked lower by 0.1%, and Nasdaq 100 futures dipped roughly 0.2%. Futures tied to the 30-stock Dow fell 120 points, or 0.3%, as shares of UnitedHealth declined.

In extended trading, health insurers slid after the Centers for Medicare & Medicaid Services finalized the 2025 rate announcement for Medicare Advantage and prescription drug coverage. In 2025, payments from the government toward these plans are expected to rise 3.7% year over year, unchanged from an earlier proposed rate. Humana lost 9%, while UnitedHealth dropped 4% and CVS Health tumbled nearly 6%.

Financial Maverick Insights

Navigating 2024: A blueprint for SME success through proactive financial planning

While SMEs contribute significantly to the economy, with them accounting for more than 60% of the job force, recent reports suggest that nearly 47,000 businesses are at risk of going under due to escalating costs, production prices and inflation. In this volatile environment, effective financial planning becomes the linchpin for sustainability and growth.

The importance of detailed budgeting and cashflow understanding

Contrary to popular belief, poorly managed cash flow is often a symptom, not the cause, of small business failure. To fortify their financial foundations, SME owners must first create a clear separation between personal and business expenses. Utilising business accounts, such as those offered by traditional banks or nimble challengers, ensures not only streamlined bookkeeping but also shields personal assets from business liabilities.

A comprehensive budget, encompassing operational costs, payroll, inventory, and marketing expenses, forms the bedrock of financial planning. Regular tracking and analysis of cash flow forecasts, conducted on a rolling basis, empower businesses to optimise resources and identify areas for improvement.

Smart inventory management and invoicing strategies 

Understanding the customer base and factors that may impact on their purchase patterns could be crucial for success when it comes to unnecessary cash burners, such as staffing and excess stock and inventory costs.

Investing in technology for financial analysis

Investing in technology and utilising accounting and other cash flow management software streamlines daily tasks to manage time more cost-effectively and aids in comprehensive financial analysis. These tools empower SME owners to understand their income statements, balance sheets, and business ratios – crucial metrics that lenders evaluate during financing decisions. Seamless integration of technology allows for real-time tracking of cash flow, fostering informed decision-making.

Unlocking government grants

Government grants can serve as a crucial lifeline for SMEs, particularly in times of economic uncertainty.

Top Books on Investment, Trading and Stock Market

16 February 2024 6 min read Individuals investing in stocks and mutual funds seek to maximize their portfolio returns. Therefore, one must learn regularly and stay updated to find the most suitable market strategies and make the best possible moves.

Several books on stock market investing are suitable for individuals seeking guidance on investment. This article provides a list of some of the best finance books on trading and investment.

Rich Dad Poor Dad by Robert Kiyosaki

Rich Dad Poor Dad, one of the best books for investing, distinguishes between working for money and making money work for an individual. In addition, it offers insight into financial independence and creating wealth via numerous assets.

Think and Grow Rich by Napoleon Hill

It was published in the early period of 1937. It is recognized as an all-time bestseller that primarily throws light on personal development and self-improvement. It includes a 13-step process on how one can attain success and prosperity.

The Psychology of Money by Morgan Housel

The book deals with novice investors and includes crucial elementary business and investment concepts. In addition, it offers a close view of the thought process of renowned investors.

The Intelligent Investor by Benjamin Graham

Written by Warren Buffet’s mentor, The Intelligent Investor is considered the Bible of investing. It deals with the philosophy of value investing and explains all fundamentals of the stock market brilliantly.

The Richest Man in Babylon by George S. Clason

It is one of the most celebrated books of all time, often found in the list of best books for trading. It is excellent for understanding financial principles that can help achieve growth, gain and improve personal wealth,

Real Estate News

Personal Finance Tips

Alternative Investing

Do you invest in Bitcoin, Ethereum, or Bonk?

Login or Subscribe to participate in polls.

Reach Over 100,000 Financial Mavericks

Advertise with Financial Maverick to get your brand in front of the Financial Gurus in the world. The Mavericks are high-income and highly knowledge people who are always looking for an interesting product or tool.

Share Financial Maverick

Calling all Financial Mavericks! To help out a family and friend in need by sharing this newsletter. Tell you what if you ever wanted to be a Hero, Financial Guru, or a Nice Person this is your time!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.