| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 34,337.87
(+0.16%) | | S&P 500 | 4,411.55
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(-0.22%) | | | | | | | | | | | | | These destinations are winning as Americans leave the coasts behind | | | | Here are some hints: warmer weather, lower tax rates, and lower home prices… at least for now.
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | U.S. stocks were mixed on Monday ahead of key inflation data this week | | | | - Moody's lowered its U.S. credit rating outlook to negative from stable, citing the impact of higher interest rates, as well as the threat of a government shutdown.
- Dubai-based airline Emirates announced a $52 billion order of 95 Boeing jets, sending Boeing's shares 4% higher.
- Shares of Tyson Foods fell 2.8% after missing revenue estimates.
- Monday.com shares jumped 10.5% after the cloud-based platform operator beat expectations
- U.S. consumer inflation expectations for the year ahead slipped to 3.6% in October
| | | | What to be on the lookout for today | | | | - October inflation: In September, core CPI fell to 4.1%, its lowest level since September 2021, while overall inflation remained unchanged at 3.7%.
- Plus, earnings reports from Home Depot and Chinese music streamer Tencent Music.
| | | | | | | | Here's a simple budgeting trick | | | | If you've been tracking your spending, know where your money has been going, but are wondering where your budget is lacking, this one's for you.
Enter the 50/30/20 rule.
This budgeting guideline divides your take home pay into three categories with 50% going to your essential needs, 30% for discretionary spending, and 20% into savings.
Ready, set, budget
The needs category includes your necessities like housing, food, utilities, and health care, as well as payments on things such as student loans, car loans, and your credit card.
The wants category includes expenses like gym memberships, dining out, travel, and entertainment. It's essentially the spending you could trim if you needed to free up some cash.
While the savings portion of this budget is the smallest, it's still very important. Committing 20% of your income to things like your retirement account, emergency fund, or savings for a down payment for a home can make the difference in your financial security.
Keep in mind that this isn't a hard rule, but rather a budgeting guideline. For instance, if you live in an expensive city, you might need a larger share of your income to cover your housing costs.
If you're ready to amp up your money, a SoFi Checking and Savings account can help. We make it easy to open an online bank account and — if you sign up for direct deposit — you'll earn a competitive APY on a qualifying account. | | | |  | | | | | | | | Today's top stories | | | | | | | | This $37 billion discovery could power America's future | | | | A Wyoming coal mine could hold the key to America's tech advances and green energy transition.
Read more >> | | | | The surprising threat to America's whiskey distilleries | | | | A trade dispute between the U.S. and E.U. could hit the whiskey industry hard next year.
Read more >> | | | | What new drivers should know about car insurance | | | | The world of auto insurance can be confusing, especially for new drivers, who often face higher insurance premiums. Here is all you need to know.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "One survey found that Americans underestimate their spending on subscription services by a whopping 84%. Putting all your monthly subscriptions on one card can simplify the way you keep track of your spending." | | | | – Brian Walsh, CFP® at SoFi | | | | How did you like today's newsletter? | | | | | | | | This email was sent to you at paidmellc@gmail.com by SoFi Wealth LLC. (SoFi) because you're enrolled in the SoFi Daily. If you do not want to receive SoFi Daily emails, click here to unsubscribe.
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SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder's SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder's employer, payroll or benefits provider or government agency ("Direct Deposit") via the Automated Clearing House ("ACH") Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder's SoFi Checking and Savings account ("Qualifying Deposits") during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder's Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. ("SoFi Bank") or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder's Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the "Start Date" and "End Date" set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the "30-Day Evaluation Period"). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 11/13/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
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