Microsoft's Secrets, TikTok Bans, and Saving on Auto Payments

Warren Buffett's Tips That Will Save You From Financial Disaster                                                                                                                                                                                                                                                                                                                                                                                                                 April 30, 2024 | [Read Online]( Good morning. It's Tuesday, April. 30 and we're covering tips to save on auto payments, top tips that will save you from financial disaster, thriving in a career as a real estate leader, and much more. First time reading? [Sign up here](. Stock Market Update Market Performance: April 29, 2024. Stocks closed higher Monday, lifted by Tesla , while traders geared up for a week dominated by corporate earnings and a Federal Reserve meeting. The S&P 500 rose 0.32% to 5,116.17, while the Nasdaq Composite added 0.35% to 15,983.08. The Dow Jones Industrial Average added 146.43 points, or 0.38%, to end at 38,386.09. Tesla jumped more than 15%, providing upward momentum to the market after clearing a key hurdle for full self-driving technology in China. Apple climbed around 2.5% on the heels of a bullish upgrade from investment firm Bernstein. But those gains were somewhat mitigated as Big Tech peers Microsoft , Alphabet and Meta all finished lower. [Domino’s Pizza popped more than 5% after reporting earnings that topped analysts’ expectations]( Monday morning. Apple, McDonald’s , Coca-Cola and Amazon are also among the major companies sharing quarterly financials this week. Financial Maverick Insights I Was a Car Salesperson: Tips To Save on Auto Payments in 2024 With annual inflation rates high and only getting higher, many car buyers are feeling the pinch when it comes to their auto loan payments in 2024. You might be looking for a lower payment on an existing loan or want to get the best deal with your major new purchase. [Either way, you’ve come to the right place.]( Renegotiate Your Loan If you’re already locked into an auto loan with payments that are sky-high, you should try to renegotiate the terms of the loan. Original terms are not set in stone, and there’s a surprising amount of flexibility if you know what to do. First things first, you should start by reviewing your contract and checking your latest monthly statements. Are there fees that have been miscalculated or overstated? The more information you have, the better, when it comes to reaching out to the lender. Next, call the lender and explain that your financial circumstances have changed and you need some adjustments. The lender would much rather renegotiate with you than not be able to recoup their assets. Depending on several factors, they might even be able to extend the loan term to reduce the monthly payment amount. Or they could potentially lower the interest rate, reassess vehicle value to reduce principal or find other creative ways to rework the deal. The key is to ask! Always ask. Refinance the Loan Another option that can significantly lower your monthly payment is refinancing the existing loan. Just as you would shop mortgage lenders for the best rates and fees, the same opportunity exists for your auto financing. Avoid credit card debt Here’s a surprising thing about the Italian economy: It’s harder to accumulate consumer debt here, especially credit card debt. In Italy, credit card balances are linked to your bank account and paid off every month, with payments automatically withdrawn from your account. If you charge more than you have in your account, your bank balance will be overdrawn. That’s a sobering reason not to overuse your card! It also prevents consumers from racking up debt that might take them years to pay off, avoiding the vicious cycle of tamping down and then reaccumulating credit card debt. Cut Some Expenses If renegotiating the loan terms or refinancing isn’t an option for whatever reason, there are still things you can do. One is taking a good hard look at your other regular expenses and seeing if there are ways you could cut back. Warren Buffett's Top Tips That Will Save You From Financial Disaster Warren Buffett is one of the most widely trusted investors of the modern era. When he offers financial advice, it’s worth listening to — especially if it can help you avoid financial disaster. [Put yourself on the right track for financial success by studying Buffett’s best everyday money tips.]( Start an Emergency Fund Buffett says you should start an emergency fund before investing. Try to fund it with three to six months’ worth of expenses. That way, if you suddenly lose your job or have to allocate your paycheck elsewhere, you won’t have to sell your assets to get back on track. Avoid Debt Buffett is strongly against debt. In a 2004 Berkshire Hathaway meeting, he said, “It’s very tempting to spend more than you earn. It’s very understandable. But it’s not a good idea.” This puts him in line with other personal financial experts, like Dave Ramsey, on the subject. When you’re in debt, unexpected expenses can be devastating. They can force you to miss installment payments, which may hurt your credit score and delay you from reaching your financial goals. Pay Yourself First Next, Buffett recommends making saving your first priority. He said, “Don’t save what’s left after spending, but spend what is left after saving.” You can summarize his mindset as paying yourself before you pay others. This shift in approach can improve your spending habits and make sure you’re always primarily focused on building wealth. Think Long Term When it comes to investing, Buffett prides himself on taking the longest view in the room. In a 2022 shareholder letter, he said, “Our favorite holding period is forever,” and “having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.” For the average person, this is a reminder to only invest in companies and assets you’re comfortable holding for many years. When you adopt this strategy, you’re less likely to make financial decisions based on short-term market fluctuations. This ensures you benefit from the long-term growth of great companies instead of selling too soon and missing out on gains. Create Opportunities for Yourself Buffett was a big believer in side hustles before the term existed. In his early years, he made extra money by delivering newspapers, selling used golf balls and even buffing cars. Stories from Buffett’s early years show that he was always looking for new opportunities for himself. When they didn’t exist, he created them. Adopting a similar approach could help you bring in more income, which means more cushion for scary financial situations. Give Yourself a Margin of Safety When Investing If you’re going to invest your money in a company, Buffett advises giving yourself a margin of safety on the evaluation. He calls this one of his cornerstones of investing. Buffett starts his process by assessing the fair value of a company. Then, he discounts that fair value by as much as 50% and sets this figure as his price target for purchasing the stock. If you can do the same, you’ll rarely make a poor investment. Real Estate News Essential skills for thriving in a career as a real estate leader Soft talents are virtually equally vital as hard skills. In fact, they frequently define success more than skill does. 28 Things That’ll Basically Make Your Home Any Real Estate Agent’s Dream Alexa play Lizzie McGuire's "What Dreams Are Made Of," As home sellers, buyers wait on a Fed cut, here's how mortgage rates have impacted the spring housing market While some buyers have come to terms with 7% interest rates, the rate volatility is the factor with the biggest impact, an economist says. Personal Finance Tips What Is a Financial Coach and How to Become One - NerdWallet A financial coach is an advisor who can help you with budgeting and saving, but likely can't help you with investment decisions. Federal budget 2024: A personal finance report card Housing, taxes, open banking, education: Let’s grade the budget on how it affects you and your household A US TikTok ban could take a bite out of small businesses Without the popular social media platform, some creators and small enterprises across the globe could see their revenue plummet. Alternative Investing How to Profit From Elon Musk's $18 Billion AI Project If xAI becomes a champion of the multi-trillion-dollar AI race, one stock in particular could absolutely soar. Bitcoin and ether drop as investors question the U.S. economy's strength CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. Microsoft's Salary Secrets: Here Are the Pay Tiers for Tech Pros Thanks to leaked Microsoft pay guidelines, you can now see how much professionals make working for the tech giant. Do you think a US TikTok ban could take a bite out of small businesses? [Yes]( [No]( Reach Over 100,000 Financial Mavericks Advertise with Financial Maverick to get your brand in front of the Financial Gurus in the world. 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