Once your debt is paid off and you have that 6-month emergency fund, you may want to start investing some of your money. Your Cheddar hosts Kristen Scholer and Tim Stenovec walk through a beginners guide to the stock market.
The first thing you need to do is build your financial library. Start learning the basics of the market by reading through finance blogs or listening to podcasts. Second, don't forget that investing is all about long-term goals. And third, understand the value of dollar cost averaging. The basic idea here is investing the same amount of money each month, regardless of what the market is doing.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
