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Best money-saving hacks you should use in 2024

Good morning. It's Saturday Jan. 13, and we're covering best money-saving hacks, improving your finances in 2024, the city's next boom suburbs, and much more.

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Stock Market Update

Market Performance: January 13, 2024.

Stocks finished mixed on Friday, shedding earlier gains as big bank results failed to lift hopes for a robust quarterly earnings season. But the S&P closed the week in positive territory after a rough start to 2024.

The Dow Jones Industrial Average (^DJI) lost 0.3%, or more than 100 points. The benchmark S&P 500 (^GSPC) gained 0.1%, while the tech-heavy Nasdaq Composite (^IXIC) closed just over the flatline.

Wall Street lenders kicked off fourth quarter earnings, seen as a crucial chance for stocks to recover from this year's losses so far. JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo (WFC) all posted decent results on Friday. But the latter two saw shares fall as they failed to settle nerves about potential pain ahead.

Financial Maverick Insights

Best money-saving hacks you should use in 2024


While the past 12 months may well be remembered for the cost-of-living pain dished out to Aussie households, it also spawned a raft of money-saving incentives offered up by companies in their desperate fight for your dwindling dollars.

And it seems these incentives are here to stay for 2024. Money expert Joel Gibson breaks down some of the best, as well as some other simple ways you can save.

Better offer’ on energy:

On the front page of your electricity bill, there should now be a box saying how much you could save by switching to your provider’s cheapest plan.

For decades, power companies made money out of giving ‘honeymoon deals’ to new customers and then increasing the rates each year and making their profit out of you in years two, three and four. But now, you can see if they’re having a lend of you, and you can immediately switch to their cheapest plan or simply ditch them.

‘Bribes’ for energy switchers:

Speaking of honeymoon deals and energy companies, 2023 was also the ‘year of the cash bribe’ in the energy industry, when most of the big electricity providers started offering $100-$300 upfront credits for switching.

Improving your finances in 2024 – out with the old, in with the new

How well did you do financially in 2023? Were you able to save more toward retirement? Did you set up an account for emergencies or pay off any existing debt?

With the New Year here, some Americans are anxious to restructure their financial plan to meet their money goals. Every new year brings a “new beginning,” in which we typically resolve to do better in everything from eating healthier to exercising more or quitting a nasty habit.

However, studies show that despite our commitments to make improvements, the resolutions come and go. Experts say change is a process, and processes take time. If we make the process too cumbersome, we may not stick to our plans.

Remember, there are always revisions that can be made throughout the year to become a better money manager and improve your financial wellbeing. As one source put it, “You could be skating on the edge of disaster or in tip-top shape, but the bottom line is, you need to think about where you are now, and where you need to be to take complete control.”

So, let’s put the past behind us and start fresh. Who knows, making smart financial decisions just might allow 2024 to become our best year ever. Here are some financial tips that might help as you begin your New Year plan

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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.