💰A bewitching new side hustle

We’re diving into quite a few interesting stories today and opening up the debate about a four-day workweek, #tipflation, and de-dollarization. Not to mention the internet’s latest side hustle - witchcraft? Yeah, it gets a little spookier as we break down ‘Zombie Firms’. Maybe this should have been our Halloween edition. Oh well.

We’re still bringing you invaluable hacks, money tips, and busting myths as we supercharge your money one step at a time!

- Milan

IN THE STOCKS

• S&P 500 4,415.24 (1.56%)
• NASDAQ 13,798.11 (2.05%)
• Dow Jones 34,283.10 (1.15%)

*Stock data as of closing on 10th November.

MILAN’S HACK OF THE DAY

Improve Your Credit And Save Thousands

If you’re looking to make a big investment soon, like buying a house or a car, it’s important that you have a good credit score. If you have a bad credit score, banks and dealerships will give you a terrible interest rate, which will increase the cost of your investment by thousands.

So, to pay the least amount of money on your purchase, you can improve your credit by responsibly using credit cards and paying back loans on time. You can also use dedicated apps like Smart Credit to boost your credit score fast. This app tells you how much you need to pay and by when to get a big score boost. Smart Credit also mails and faxes your creditors to get negative accounts removed on your behalf. 

You can check out Smart Credit for just $1 for 7 days by visiting this link: milansingh.co/smartcredit

THE MONEY BREAKDOWN

“Zombie Firms”

No, they’re not Halloween costume stores. Zombie firms are businesses that earn just enough to keep borrowing money. They get stuck in a cycle of loan churning until eventually, they go bankrupt. 

Lately, higher interest rates have caused more and more zombie firms to declare bankruptcy. And with a looming recession and skyrocketing overheads, Venture Capitalists expect hundreds more businesses to become zombie firms in the coming years. Maybe it’s time we all started mitigating risks and hedging against inflation. You know, just in case the zombie virus catches on.

IN THE KNOW

Who’s Up For A Four-Day Workweek? 

As the four-day workweek becomes increasingly popular across the world, many companies are seeing positive results from their pilot tests. 

In 2022, Belgium became the first country to legislate a four-day workweek for their workforce, and the concept has quickly gained popularity in countries like the UAE, France, and Iceland. The outcome? Higher productivity, morale, and team culture. Now, more Americans want in on the four-day life. A recent study by Fiverr found that over 75% of Americans think they can complete their entire weekly workload in just four days. 

As Gen Z and Millennials make up more and more of the workforce, we’re seeing a shift in workplace values. More employees are opting for flexible work hours, remote or hybrid work, and the need to be evaluated on their output rather than the number of hours they work. 

With our changing values backed by overwhelmingly positive results from pilot studies around the world, is it finally time to rethink the way we work? Reply to this email and let us know what you think!

Dashing Through The Tips 

If you’ve tried to order DoorDash this month and felt blackmailed into tipping your delivery provider, you’re not alone. 

DoorDash, the largest food delivery company in the United States, has started testing out a new feature to “help create the best possible experience for all members of their community”. The feature comes into effect when users order from a restaurant and don’t leave a tip. A pop-up swiftly informs them that orders with no tip take longer to be delivered and asks them if they would like to continue anyway.

With #tipflation on the rise and more and more Americans questioning when it is okay not to leave a tip, DoorDash is definitely adding to the conversation. The company’s argument is that DoorDash delivery providers, or Dashers, are independent contractors who can choose the deliveries they make based on what they think is most rewarding. So most Dashers pick deliveries with a higher tip, leaving other orders to grow colder until someone eventually caves in. The situation draws a logical conclusion but is it too much to ask that workers be paid a livable wage instead of having to depend on tips? We guess so. 

Are We Ready For De-Dollarization? 

The U.S. Dollar has long been the global currency that everyone turns to when traveling, trading, and making international purchases. But this could change sooner than we thought. 

Because of geopolitical shifts and the constantly fluctuating dollar, a number of African nations recently began considering ditching the USD for local currencies. This comes hot on the heels of emerging-markets group BRICS debating switching from the dollar to a common currency. Made up of Brazil, Russia, India, China, and South Africa, BRICS has the numbers and the power to accelerate de-dollarization meaning that fewer dollars will be used globally, reducing the dominance of the USD. 

Thankfully, while we are bound to see minor de-dollarization across the globe, the U.S.’s strategic long-term partnerships and alliances will maintain the USD at a healthy status. Still, it might be time for us to explore international investment options. Global real estate? International stock markets? Where will you start looking?

An Unusual Side Hustle 🔮

If you’ve been in the market for a good side hustle, you may have found that witches actually make mad bank. And yes, you read that right.

Though witches were always portrayed as the villains in movies we watched growing up, concepts like manifestation making their way into mainstream media mean that witchcraft is now more accepted and celebrated worldwide. In fact, psychic services, small businesses selling potions, and others offering spell courses have driven witchcraft to become a billion-dollar industry.

Gone are the days when witches were shunned for their hidden powers. Now they sell trinkets on Etsy and have millions of followers on TikTok, leaning into their historic knack for doing business well. 

But if you’re looking for a more conventional side hustle, check out our Top 15 Hacks Guidebook which gives you a step-by-step guide on how to get ahead of your money. Download it for free at milansingh.co/hacks

MONEY MYTH OF THE DAY

All Debt is Bad

Debt isn't universally bad; it depends on the type and how it's managed. Good debt is linked with investments that can increase in value, like a mortgage for a home or student loans for education. These debts contribute to building wealth over time. On the other hand, bad debt usually involves high-interest loans, such as credit card balances or payday loans, which can quickly become financially burdensome.

The difference between good and bad debt often depends on factors like interest rates and whether the debt is backed by an appreciating asset. Managing debt wisely, understanding its terms, and having a clear repayment plan are extremely important when it comes to achieving financial growth.

VIDEOS YOU MAY HAVE MISSED THIS WEEK

Here are the top videos you loved the most this week. Which one was your favorite?