Top Story
Why million dollar starter homes are becoming the norm
As America grapples with a structural undersupply of for-sale homes, the price of starter homes is going through the roof in some cities.
US stocks finished sharply lower on Friday after an underwhelming jobs report
• The U.S. economy added just 114,000 new jobs in July, down from 179,000 in June, further stoking concerns that the economy has cooled. The unemployment rate rose from 4.1% to 4.3%.
• The Nasdaq Composite entered correction territory, defined as a 10% drop from its most recent high.
• All three indexes finished lower for the week.
What to be on the lookout for today
• A gauge of business activity in the services sector.
• In earnings, Peter Thielâs Palantir Technologies, shopping mall company Simon Property Group, and meat processing giant Tyson Foods will report.
Planning a birthday without ruining your budget
Everyone deserves to be celebrated on their birthday. But planning a birthday party, especially if itâs a milestone, can quickly turn into an expensive affair.
The key to avoiding a money hangover is to start planning early and create a budget. Create expense estimates for things like a venue, food and drink, decorations and entertainment.
Donât forget to track your expenses as you plan to make sure youâre staying on budget.
Cut costs, not fun
Time it right. If youâre offering food, timing makes a difference, as lunch tends to be less expensive than dinner.
Keep the guest list tight. Limiting the number of guests can help keep a lid on spending. Having a joint party with someone else can also allow you to split costs.
Flex your DIY muscles. Baking a cake or putting together your own decorations can help you save money and give your party a more personal touch.
Happy celebrating!
Todayâs top stories
What do the economy and beef Wellington have in common?In this restaurant metaphor, we explore why itâs so hard to tell whether the high interest rate Fed policies of the past years have done what they were designed for. Plus, what else is ahead on Wall Street.
Read more >> Has climate change permanently changed coffee prices?Habitual coffee drinkers may need to make more room in their budgets, as global weather events hinder coffee bean production.
Read more >> How to maximize your time and moneyYouâve heard the phrase âtime is money,â but what does it actually mean, and how does it fit into your life?
Read more >>Other news that caught our eye
-
Amazon noted that consumers are becoming increasingly cost-conscious and pausing spending in line with major news events.
-
At the same time, Amazonâs pharmacy business is benefiting from a slowdown in spending at drug store chains like CVS and Walgreens.
-
Google-parent Alphabet roughly halved its stake in CrowdStrike ahead of the cybersecurity firmâs mass outage last month, per a regulatory filing.
-
Chevron will move its headquarters from California to Texas in response to regulatory changes.
-
The nationâs largest union â the National Education Association â has locked its staff out of work for nearly a month amid ongoing contract negotiations.
Financial planner tip of the day
âReaching your savings goals might happen faster by setting up automatic transfers from checking account to savings account each time youâre paid. If your paycheck is direct-deposited, you may also be able to split the deposit into more than one account, on a percentage or dollar-amount basis.â
Brian Walsh, CFPÂŽ at SoFi