Market Performance: January 19, 2024.

The stock market cut its rebound in half in afternoon trading Thursday as a top Fed official doused hopes for an interest-rate cut as early as March. The Nasdaq composite, which had been up more than 1%, was up only 0.6%. Technology Select Sector SPDR (XLK) still led sectors with a 1.3% increase. The Nasdaq 100 rose 0.7% but is no longer on track for a record closing high.

Apple (AAPL) jumped 2.7% after rising from support at its 200-day moving average. BofA Securities upgraded the stock to buy from neutral and raised the price target to 225 from 208. Analyst Wamsi Mohan cited a potential sales boom from the company's upcoming Vision Pro headset.

The S&P 500 trimmed its gain to 0.2% in the stock market today. It made a stand at the 21-day exponential moving average.

How to Budget for Beginners

I started my first budget after graduating from college. I wish I could say it was because I was financially responsible and trying to be proactive with my money, but the truth was I was drowning in student loan debt. I needed a way to help me track the little income I had and the lot of expenses I saw hitting my bank account each month. Fast forward ten years, and I’m still using a budget to track my monthly income and expenses even though I’ve since paid off that debt. Why, you might ask? Because budgets work.

How To Budget for Beginners

A common misconception is that maintaining a budget equals restriction. But the truth is budgeting allows you to spend money on the things you care about (aka value-based budgeting). Tracking your income and expenses each month or pay period gives you a better understanding of where your money is going. It helps you remain focused and accountable for reaching your financial goals.

But because budgeting isn’t a skill many learn growing up, it can seem intimidating to get started. I’m here to tell you that you don’t need to be a financial planner or a money expert to create a budget that works for you. If you’re ready for Budgeting 101, let’s dive in so you can go from budget beginner to managing your money effectively and with ease.

What you need to know about financial advice as policymakers debate changes to the rules

When employees who contribute to a 401(k) plan leave a company, they have options for what to do with that money.

Depending on what the employer retirement savings plan allows, exiting employees may be able to keep the money in the current plan, roll it over into an IRA, or buy an annuity. In some cases, employers can force out small accounts.

The guidance investors receive from a financial professional or firm about handling old 401(k)s has been exempt from investment advice rules. And, there are different standards for financial advice. Being a “fiduciary” is the highest standard, meaning the advice must be in the client’s best interest.

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