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The Week in Review
• The combined headwinds of inflation, war in Ukraine, and fresh COVID-19 lockdowns in China are weighing on sentiment. Per Bloomberg, US stocks have seen twice as many down weeks as up weeks so far in 2022.
• Economists say the supply chain could be further disrupted by new lockdowns, as Beijing continues to pursue its “zero-COVID” strategy. This has also led to fears of a global slowdown. Oil prices fell, potentially on the prospect of lower demand.
• Consumer confidence fell slightly this month, according to the Conference Board. March’s reading came in at a 10-month low. Generally speaking, rising prices have caused consumer sentiment to decline for close to a year.
For more economic news and how it affects your money, visit the SoFi app.
The Cost Of Waiting To Refi Your Student Loans
If rates rise 1% in the next year, with an average balance of $75,000, waiting to refinance could cost you $2,000-$6,000 over the life of your student loan.* That could be the beginning of an investment portfolio, the start to a down payment, your early retirement fund — or a whole bunch of crypto.
Our calculator shows how much you can save on your student loans by refinancing with SoFi. Just add in your current student loan information, and we’ll calculate your estimated savings — both monthly and over the lifetime of your loan. If you have multiple student loans, simply combine the loans and average their principal.
This Week’s Top Stories
It’s official, Elon Musk has reached a deal to buy out the rest of Twitter (TWTR) that he doesn’t already own. So, what’s next?
Musk has criticized Twitter’s advertising model, but that accounts for 90% of the social media giant’s revenue. One thing’s almost certain: tweets will soon get an “edit” button.
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The S&P has lost 9% since Mar 29, and we are only a whisker away from that Mar 8 low. This is one of the few applications where all of the life coach advice to “focus on the present” and “live in the now” will actually work against you.
In this week’s column, SoFi’s Head of Investment Strategy shows how to chase yourself as an investor five years from now.
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Lululemon (LULU) expects new initiatives to pay off and eventually help double the company’s revenue by 2026. Product line and geographic expansion are expected to fuel its growth, as well as a newly announced membership program.
The upscale athleticwear company will make clothes for a more diverse range of activities, such as golf and tennis as it expands its reach to China and Europe. It also plans to launch a membership program with both free and paid options,to increase product sales, brand loyalty, and customer outreach.
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Deep Dives from SoFi Learn
It is possible to earn passive income with crypto, but returns will depend on the method chosen and the amount of crypto you have to start. Given its volatility, there’s no guarantee that any crypto strategies will deliver any returns.
Still, those holding large amounts of crypto have several avenues to potentially generate yield with crypto. It’s up to you to weigh the risks of trying to earn a yield on their crypto and its potential rewards vs. the risk/reward ratio of simply holding for potential long-term gains, or cashing out some or all of your holdings.
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With a little planning and just a few habit shifts, you may be able to slash your food bills without sacrificing quality, taste, or nutrition.
Here are 15 simple strategies to try.
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While you probably can’t avoid inflation completely, with proactive planning, you may be able to blunt its impact on your day-to-day and long-term finances.
If you haven’t already, you may want to review your savings, spending, and investing strategies to be sure you’re getting the most you can for your money.
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