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The NextGen Wealth Weekly Roundup August 2, 2019

Welcome to the weekly roundup where I share with you interesting articles from across the web. I hope you enjoy and absolutely feel free to share and pass along.

Our Kansas City Financial Planner Weekly Roundup

Hello everyone and welcome to another edition of the NextGen Wealth Weekly Roundup. Hope you’re having a great week!THE NEXTGEN WEALTH WEEKLY ROUNDUP 8 2 2019

The trade war with China continues to have an effect on stock indexes, as they fell this morning due to traders stepping back due to Trump’s 10% tariff on remaining Chinese imports. The S&P 500 dropped .9%, which was minor compared to some of the losses in Asia and European stocks. 

Many fear that this ongoing trade war seems to be getting worse and may just bring our economy back into a recession. Department stores may be the ones to be hit the hardest with these new tariffs, such as Nordstrom, Macy’s and Kohl’s, because these tariffs directly impact apparel, footwear and electronics. 

The U.S. economy added 164,000 jobs in July, which is just shy of the Dow Jones estimate of 165,000. Wages far exceeded the estimate at .1%, with a 3.2% increase over the last year. This large increase in the job market has pushed the U.S. labor force to a record high. 

The Dow Jones traded 160 points lower this week, heading for it’s second worst week of 2019. The Nasdaq and the S&P 500 also were expected to reach their worst week of the year. 

So enough of my commentary, let’s jump in and check out some of the best articles I ran across from the past week. Enjoy the weekend and find some time to relax.

Looking For Free Stuff? Be Careful -- Sometimes Free Isn’t Really Free

First up, we turn to Robin from Mastering the Side Jam with a fun look at her experience with learning that free doesn’t always mean free. Oftentimes, we see the word “FREE” and instantly think we are getting a great deal. But, we usually don’t think of the costs that may be involved with this supposedly “free” item. 

Looking for Free Stuff? When You Might Not Want to Accept Gift Horses

I was scrolling through Facebook the other morning, when something caught my eye. It was brown and furry, with big feet, a pink button nose, and long floppy ears. OMG someone was giving away bunnies!!! Immediately, I was in love. And I started going over all these plans in my mind.

How to Keep Your Identity From Being Stolen Online

Next up, we turn to The Public Slate with some very practical ways to be sure to keep our personal information safe and avoid our identity being stolen. For most of us, a majority of our time is spent at our computer on the internet, which means you are constantly in danger of cyber thieves. This article gives you the information you need to protect youridentity. 

How to Keep Your Identity from Being Stolen Online ⋆ The Public Slate

If you're like most of us, you spend a lot of time at your computer. For many, it's our full-time job. You probably spend much of that time on the Internet and protecting your identity from being stolen is a primary...

Be Selfish: Step 8 to Empowering Yourself

Next up, we turn to BeThree on why simply being selfish can help empower yourself by putting your own priorities above the opinions of others. Too often we worry about what others are telling us we should be doing and how we can achieve perfection. BeThree offers some ways to work on yourself and drown out the outside noise. 

Be selfish: Step 8 to Empowering Yourself | BeThree

Now before you go all crazy and say that I'm crazy for telling you to be selfish, please let me explain what I mean. I mean that we all need to be selfish with how we spend our time, our energy, and what we pay attention to/focus on.

14 Bad Money Habits That Will Keep You Broke Forever

In our final read of the week, we turn to Todd from Invested Wallet with some common financial mistakes and reasons why some may feel they are always “broke”. Most of us are guilty of at least one of these habits, if not more, and if we don’t come to terms with these habits and identify them, they will continue to affect our financial situation. Todd points out a lot of these common mistakes and offers up how we can change these bad habits. 

14 Bad Money Habits That Will Keep You Broke Forever

Being broke sucks. Worrying about bills and living paycheck to paycheck also sucks. And the thought of that being for a lifetime is demoralizing. While all our financial situations are different, we all have the ability to change our broke status. Will it be easy?

Things We Were Up To This Week

Is Passive Income Right for You?

If you're like most people, you work a lot. These days, a growing number of Americans are working multiple jobs. Either the gigs are all part-time, or people are working on side hustles to earn extra income. One of the issues with the standard model of earning money is that you have to work for it.

Wrap Up

Enjoy the weekend and spend time with family and friends. Take a break from work and give your mind some well-deserved rest from the long week. Cherish the time you have with your family and I guarantee it will make your life much happier!

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