🚨Vital emergency savings tips inside

Recent News & Links 📰

📈TSMC beat revenue and profit expectations, with net revenue increasing by 40% compared to last year and their stock up 66% year-to-date.

🥳New research suggests that money actually can buy happiness, showing the ultra-wealthy are more content than six-figure salary earners.

💰 Here’s what net worth is, why it matters, and how you can calculate it.

⛽️ Current gas prices around the world – if you thought USA gas was expensive, try Hong Kong’s $12.36 a gallon.

🏠 Can lowering your thermostat save money? This article dives deep, plus some other ways to save money on your energy bill.

💸Emergency Savings 101 →

Do you have money saved specifically for emergencies?

Anything can happen, from an unexpected job layoff to a surprise hospital bill.

Without funds in reserve that can carry you through hard times, life can get incredibly stressful.

Your emergency savings should be held in a separate account – I keep mine in a high-yield savings account so it generates interest.

Wherever you keep the money, it should be easy to access without taxes or penalties.

I use PayPal Savings, which currently gives a 4.3% interest and is extremely easy to transfer if I need it.

How much should you save for an emergency?

A good rule of thumb is to save 3-6 months’ worth of your monthly expenses.

However, you might want to save more than this if you’re more prone to unexpected costs.

For example, maybe your job is more likely to have layoffs than others, or you have aging parents, pets, or even an old home.

What expenses to consider in an emergency fund?

Consider all of your essential monthly expenses when figuring out how much you’ll need for your emergency fund. Here are some examples:

• rent or mortgage

• utilities

• groceries

• health care

• car payment, insurance, gas

• child care costs

• minimum debt payments (loans, student debt, etc.)

• pet care costs

Don’t include anything unnecessary, such as vacation costs or your monthly clothing budget. These are things you could cut out of your life in case of emergency.

Stock Market Update 📊

As of the market open today, here are some hot stock movements:

Yesterday’s downward turn in tech stocks has leaked into today, with Apple down another 2.5%, Microsoft down over 1%, Amazon down over 2%, TSM down over 1%, ARM down over 3%, and so on.

The PHLX Semiconductor Index SOX (an index that consists of semiconductor companies) had the worst performance in years yesterday.

However, Intel is up over 3% today.

After Nasdaq’s worst day since December 2022 yesterday, it’s down another almost 1% today.

The Dow dropped 300 points (0.7%), while the S&P 500 is down about 0.5%.

Also, Netflix will be reporting earnings after market close today. With their stocks up over 30% this year, expectations are high.

Fear & Greed Index

*Although the Fear & Greed index can be a useful metric to help determine where the market is, don’t rely on it alone. Make sure to do further research using analytical tools before making investment decisions.

Today’s Investment Term

✨Bull market & Bear market✨

You might hear the terms “bull market” and “bear market” used regularly by investors.

Bull market: When stock prices are generally rising.

Bear market: When stock prices decline over time – this often happens with a weakening economy.

QUICK POLL

💖 Thanks for reading the Finance Queens newsletter! We are a new publication and we’d LOVE to hear your feedback below if you have a second to spare ⤵️

✨ Do you know someone who could benefit from this newsletter? Forward them this email now ✨