💰Travel tips for the szn

Happy Monday, folks, I hope everyone had a restful Thanksgiving break! Belated or not, we just want to say how thankful we are for each and every one of you who makes this newsletter all that it is. Thank you for reading, responding, and for all the encouragement that floods our inbox every week, we’re grateful for you!

Today’s newsletter dishes out some stellar tips that are bound to take your travel plans, corporate vocabulary, and new car purchases one step higher. All this and more while we supercharge your money!

- Milan

IN THE STOCKS

• S&P 500 4,559.34 (0.060%)
• NASDAQ 14,250.85 (-0.11%)
• Dow Jones 35,390.15 (0.33%)

*Stock data as of closing on November 24th.

MILAN’S HACK OF THE DAY

Travel Smart This Holiday Season ✈️

Almost half of America is set to travel sometime between Thanksgiving and the New Year, and with millions of people trying to get to a thousand different destinations, there’s bound to be mishaps, miscommunication, and delays. In fact, experts predict that every 1 in 5 flights will not leave on time this season.

While setbacks are bound to happen, there are a few things you can do to protect yourself from common travel tragedies. Here are our top hacks for happy travels this season:

• Be prepared for delays: With this many people on the road, traffic is bound to pile up. Use platforms like Uber and Lyft to pre-book your airport ride and account for enough buffer time between leaving home and your boarding time. 
• Avoid busy airports: Data shows that Las Vegas (LAS), Orlando (MCO ), and Denver (DEN) are the busiest airports prone to the most disruptions. Do everything you can to avoid them.
• Avoid busy travel days: Yesterday was estimated to be the busiest travel day in the U.S. this year with almost 22,000 trips taking flight. The next busiest days are predicted to be Dec. 21, 22, 28, and 29, and Jan. 2 and 7. If you can’t avoid flying on these days, at least keep a buffer day between important dates and traveling so you have some leeway in case things go south.

With seasonal storms brewing this year, it may also be a good idea to nab yourself some travel insurance. Don’t wait until it’s too late though - if bad weather is announced right before you fly and you don’t have an insurance cover yet, they could refuse service.

THE MONEY BREAKDOWN

 ‘Choiceful’

As Q4 comes to a close, it’s time we updated our corporate dictionaries. The word ‘Choiceful’ seems to be this year’s favorite word for CEOs across the board. 

Best defined as “to pick from many options”, it’s been used to describe the economy, investor updates, company strategy, and consumer behavior far more than last year. The word isn’t a particularly common one and certainly makes an impression when brought up, which is why a CNBC analysis of FactSet corporate meeting transcripts detected its increased use. 

So there’s a new word you can dish out at your company year-end party and don’t forget to let us know how it goes!

IN THE KNOW

Online Shopping For Cars? 🚗

Remember the times when we’d think there’s no way some products can be sold online? Turns out 2024 is the year we cross that line. Next year, Amazon will begin selling new cars on their website via auto dealers, starting with South Korean manufacturer, Hyundai.

The move is meant to create new ways in which consumers can find cars available for purchase in their areas. All you have to do is browse through Amazon, select your vehicle, check out using Amazon’s payment and financing methods, and have the car delivered or picked up. 

Because of complex laws in many states, Amazon has to make these sales through auto dealers and can’t sell directly to consumers, but this won’t affect your experience as a customer. In fact, by 2025, Hyundai anticipates to have Amazon’s Alexa as its in-car voice assistant!

If you’re looking to buy a car soon, read up on all the ways you can bring down the price in my Top 15 Hacks Guidebook at milansingh.co/hacks

Would You Stay Or Pay? 😳

More and more employers are now including “stay or pay” clauses in contracts, making job leavers pay compensation for “hiring and training costs” after they leave. The clause comes into effect if an employee quits before a certain time period is up, which could stretch from months to years.

On one hand, employers are legally allowed to include this clause to make sure employees stay with the company long enough to make up for the cost of their training. But with labor strikes disrupting industries across the board, employers are now manipulating these clauses to stop people from leaving their jobs altogether. Workers’ rights groups have reported that these payments "appear to be inflated financial penalties" meant to discourage job switching.

In a market where workers are already underpaid, struggling with costs of living, and finding it hard to grow within their careers, these “stay or pay” clauses are making Americans everywhere feel stuck in their jobs. 

What’s your take on it? Would you or have you signed a contract with a “stay or pay” clause?

Tipping Takes A Hit 📉

Americans are experiencing “tip fatigue” as tipping culture gets more and more complicated to keep up with. Though industry etiquette is to tip 15% - 20% at a sit-down restaurant, a recent study by Pew Research Center found that 18% of Americans tip less than 15% after a meal.

This comes hot on the heels of “tipflation”, or the expectancy to tip higher or for basic services like your to-go coffee. I mean, If you don’t get more than 30 seconds of face-to-face time to evaluate a service, is it fair to ask for a tip?

With more services demanding a tip, and the percentage of the tip rising higher and higher, most Americans are opting to not tip servers altogether. After all, if you’re going to be frowned on for a small tip, you might as well be frowned on for no tip at all, right?

MONEY MYTH OF THE DAY

"I'll Start Saving When I Make More Money"

Waiting until you make more money to start saving is like thinking you need a big allowance before you can put some money in your piggy bank. But here's the thing: starting to save a little bit, even if it's just a small amount, is more important than waiting for a big increase in your income.

Even with a modest income, developing a habit of saving a portion regularly can lead to financial security and growth over time. Waiting for a more substantial income may mean missing out on the benefits of compounding and the potential for long-term financial success. 

Building wealth is not solely about the amount of income but rather about how one manages and allocates those funds. Start tracking your funds with my free Budget Planner at milansingh.co/ budget-planner

VIDEOS YOU MAY HAVE MISSED THIS WEEK

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