💰Wanna work for NASA?Jan 24, 2024
Overdraft fees may be going down and your chances to add some pizzazz to your CV are going all the way up. In this issue of Hack Your Money, we’re giving you golden nuggets of information that can help your financial health in a variety of ways.
From my best car-buying hack that can help you save thousands of dollars to a way to get paid for taking care of your parents, we’re breaking it all down as we supercharge your money, one step at a time!
IN THE KNOW
Combating Overdraft Fees
After tackling the looming issue of “junk fees”, President Biden is now turning his attention to other matters that unnecessarily burden American consumers. Overdraft fees disrupt many Americans’ lives and can cost up to $30 or more, adding to the financial burden of already vulnerable individuals.
A new proposal from the White House recently announced that the Biden administration is working on lowering overdraft fees to as little as $3, saving scores of citizens the misfortune of falling into a debt trap.
Some of the nation's biggest banks are opposing the proposal, seeing as a move like this could cost them billions of dollars in revenue. But President Biden, calling inflated overdraft fees “exploitative”, may save us all a significant amount of money in the coming months.
For updates, be sure to stay tuned to our biweekly newsletter and let us know your thoughts by replying to this email!
Want To Work For NASA?
If you’ve ever wanted to say “worked for NASA” on your CV, here’s your chance! The agency is looking for volunteers to study gamma-ray bursts, and there’s no prior experience or knowledge needed.
The Burst Chaser Program seeks volunteers who can identify patterns in gamma-ray bursts, a very energetic form of light, coming from billions of light years away. The bursts, regularly detected by NASA’s Neil Gehrels SWIFT observatory, hold information about stars and black holes. If deciphered, they can mean big leaps for mankind.
The program gives volunteers a tutorial on how to identify different pulses of gamma-ray bursts and sets them to work! NASA is asking the public for help, relying on trusty human eyes to do what AI still hasn’t grasped yet. Is it just us or have side hustles gotten pretty sci-fi lately?
MONEY MYTH OF THE DAY
“More Income Means More Wealth”
While a higher income undeniably opens doors, the correlation between income and lasting wealth is more nuanced. It's not just about what you earn; it's about how you manage and grow those earnings. The myth assumes that a bigger paycheck automatically translates to wealth, but without mindful financial habits like saving, investing, and budgeting, your financial journey could quickly go south. True wealth lies not just in earning more but in strategically utilizing and preserving those earnings for the long journey ahead.
While a higher income provides a robust starting point, the key is to harness that income effectively. Focus on building a solid financial foundation through smart saving and investing. Wealth isn't just about the size of your paycheck; it's about the financial choices you make along the way.
For all the best ways to manage your money, check out my Top 15 pieces of advice at milansingh.co/hacks
VIDEOS YOU MAY HAVE MISSED THIS WEEK
Here are the top videos you loved the most this week. Which one was your favorite?