Hot Buzzwords, The Pain of Paying, and Managing Your Money

8 Key Questions Every Entrepreneur Should Ask                                                                                                                                                                                                                                                                                                                                                                                                                 February 20, 2024 | [Read Online]( Good morning. It's Tuesday, Feb. 20, and we're covering when goals fit personality traits, the pain of paying, how real estate listings are shifting to AI, and much more. First time reading? [Sign up here](. Stock Market Update Market Performance: February 19, 2024. S&P 500 futures inched lower early Tuesday as the market comes off its first losing week in more than a month. Futures tied to the S&P 500 slid 0.33%, while Nasdaq 100 futures dipped 0.41. Futures tied to the Dow Jones Industrial Average lost 121 points, or 0.32%. The moves follow a losing week on Wall Street after economic data raised concerns that the Federal Reserve may not begin cutting interest rates as soon, or by as much, as market participants expected this year. [The moves follow a losing week on Wall Street after economic data](raised concerns that the Federal Reserve may not begin cutting interest rates as soon, or by as much, as market participants expected this year. Financial Maverick Insights People save more money when their goals fit their personality traits People whose savings goals align well with their dominant personality traits are more likely to save money, according to research published by the American Psychological Association. In the U.S. and around the world, savings rates are critically low. In October 2022, the Bureau of Economic Analysis reported Americans save just 2.3% of their income, the lowest in nearly two decades. Although people report wanting to save more money, saving is difficult—in part because it requires people to overcome the psychological hurdle of making a sacrifice in the present to benefit themselves in the future. Researcher Sandra Matz, PhD, of Columbia University, and her colleagues Joe Gladstone, PhD, of the University of Colorado at Boulder, and Robert Farrokhnia, PhD, of Columbia University, wanted to see if aligning people’s savings goals to their personality traits might make it easier for them to save. The research was published in the journal American Psychologist. [Previous research by Matz and Gladstone found that people high in agreeableness are less likely to save]( than others, possibly because they’ve been taught that valuing people and valuing money are at odds with one another, and that “nice people” don’t value money. Research suggests that the "pain of paying" affects spending and happiness Aren’t we all feeling the pinch of rising energy bills? That "oh-no" moment when receiving a heating bill makes us question our house's optimal temperature. Maybe you have even considered joining the recent trend of "thermal tourism," which involves taking winter holidays in warmer climates to avoid the cost-of-living crisis. It is hardly a coincidence that smart meters have reached unprecedented popularity. By showing consumers how much energy they use at any given moment (and just how much they’re paying for it), smart meters have been advertised as an obvious solution to help people understand their energy bills, adjust their behaviour and take control of their spending. For example, smart meters could help you get your money’s worth by highlighting appliances that use particularly large amounts of electricity. Reducing the use of those appliances and switching to alternative options could help you save significantly! The Psychology of Paying Tracking your spending habits—be it through smart meters or detailed bookkeeping—seems like an obvious solution to tackle overspending and make you feel better about your finances. But is that really the case? [One commonly overlooked factor is the psychological complexity of any payment we make.]( When we part with our hard-earned money, the actual financial cost isn’t the only thing that matters. Indeed, psychologist Dan Ariely argues that consumer experiences are shaped by additional factors, including the hassle of making a payment and the subjective pain of paying. Real Estate News House prices are falling House prices have fallen in many major markets between December 2023 and January 2024—but this isn't necessarily good news for homebuyers. How real estate listings and potentially jobs are shifting to AI While your next real estate agent probably won’t be a robot, smart machines “will likely revolutionize the back-end operations of the real estate market,” one observer said. Real Estate's Lead as Best Investment Shrinks; Gold Rises Americans pick real estate over stocks and gold as the best investment, but by a smaller margin than last year. Gold has overtaken stocks for second place. Personal Finance Tips For a Good Time Managing Your Money, Call on These Apps Budgeting, saving and getting out of debt aren’t normally associated with fun, but these eight apps aim to make personal finance less of a grind for you. Local entrepreneur helping businesses give back to workers, clients If you're looking for a way to celebrate your employees for their hard work or searching for a way to thank a client, but don't have the gift of gifting, there's a Valley-based service for that. 8 Key Questions Every Entrepreneur Should Ask Their Business Coach With increasing competition in the business landscape, entrepreneurs are constantly faced with challenges and decisions that can make or break their success. Alternative Investing AI Investing 2024: Key Trends and Critical Factors To Maximize Returns Artificial intelligence, or AI, has become a hot buzzword over the past year or so. Which U.S. presidents would have bought Bitcoin? These 3, says a presidential historian. Tesla able to produce real-world video similar to OpenAI's for over a year: Elon Musk Elon Musk reveals the potential synergies between OpenAI's Sora and Tesla's autonomous driving ambitions. Do you believe 'AI' has become a hot buzzword over the past year? [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. The Mavericks are high-income and highly knowledge people who are always looking for an interesting product or tool. [Get In Touch]( 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! [Share the newsletter]( 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. 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