The Big "Why"
Today, we want to ask you… “Why?”
That is, we want you to ask yourself.
Why do I spend what I spend?
Why do I save as much (or as little) as I do?The reason we want you to ask yourself these questions is because “Why?” is a question we tend to avoid.
That may be because “Why” is scary. It may be scary because we don’t know the answer. And honestly, we may not know the answer because we don’t want to know the answer. After all, the moment we start questioning our true motivations, we’re likely to discover that some of what we do doesn’t line up with what we say we believe.
For example, if someone says that time with their family is the most important thing in their life, but they work long hours to manage a big car payment, then they’ll be forced to deal with that conflict.
Questioning your motivations will also lead you to discover things about your decisions simply because you’ve never thought about them before. Like the fact that it’s not just your kids who are subject to peer pressure.
This type of introspection isn’t easy. We suspect it’s one of the key reasons humans do questionable things with money. We’re afraid to know why we do what we do, so we don’t take the time to question our behavior.
But here’s the thing: Asking ourselves why we make a certain money decision is integral to our financial success, even if it takes a bit of time and effort to reach an answer.
Having a solid financial foundation and a plan is crucial. But understanding why we behave the way we do will build the financial confidence we need to succeed.
So go ahead… ask yourself, "Why?" If you discover some new insights, please reach out. We’d love to hear from you.
Until next week,
Your Eagle Wealth Team
Gratitude is the Attitude
It’s hard to be anything else when you are in an attitude of gratitude. A grateful mindset is an instant way to get positive and feel better. But just how do you do that? Here are some great tips to start now:
The Week on Wall Street
An improving inflation outlook buoyed investors’ spirits last week, helping lift stocks to solid gains.
Lower Inflation Spurs Buying
Stock prices surged mid-week when the U.S. Bureau of Labor Statistics released a better-than-expected Consumer Price Index (CPI) number, with buying momentum building throughout the trading session.
Gains were significant across the board, with technology and small-cap companies leading the market higher. The mid-week rally sent the S&P 500 to its highest level since May and the Nasdaq to its highest level since April. Bond yields fell on expectations that the Fed's pressure to hike rates further might ease. After pausing on Thursday, stocks again ripped higher on Friday, aided, in part, by a report indicating improving consumer sentiment.4
The Consumer Price Index in July was softer than expected, with prices unchanged from the previous month thanks to a 4.6% decline in energy prices and a 7.7% drop in gasoline.4
Despite the encouraging results, the CPI report still evidenced upward price pressure. The year-over-year inflation rate remained at 8.5%, while the core CPI (excluding food and energy) came in at 5.9%. Among the index components seeing substantial price increases were food (+10.9% from 12 months ago) and shelter (+5.7%). Producer prices fell 0.5% in July, suggesting that future consumer price increases may continue to moderate.5,6