Welcome to our Weekly Wealth of Knowledge! We invite you to explore the latest regarding financial planning topics, our Moneco community, market trends, and more. This August, our focus is on “Money”, offering you insights and resources to help sustain a path towards effectively balancing and achieving your financial goals and milestones.
In this issue:
- Moneco Insights – Budgeting Basics (2 min read)
- Swim Across The Sound (1 min read)
- Unemployment Claims Increase (4 min read)
If you enjoy our Weekly Wealth of Knowledge, don’t forget to visit us on Facebook, Linkedin, and X for more resources and updates.
————————————————————-
Moneco Insights – Budgeting Basics
Budgeting is a crucial strategy for mastering your finances, reaching your objectives, and easing financial anxiety. By gaining insight into your income and expenses, establishing clear financial goals, crafting a feasible budget, and consistently tracking your progress, you can help gain control over your financial destiny. Keep in mind that budgeting is an ongoing process, and it’s perfectly fine to make adjustments as needed. With dedication and perseverance, you can lay solid financial groundwork and begin to realize your long-term financial aspirations.
————————————————————-
Swim Across The Sound
This past weekend, a member of our Moneco team admirably pledged to swim across the Long Island Sound as part of the 37th Annual Swim Across the Sound, organized by Hartford HealthCare St. Vincent’s Medical Center, which raises critical funds for cancer patients and their families to help support their health and healing.
A commendable fundraising goal was reached and rigorous training paid off for the event because this cause matters deeply; Cancer has directly impacted so many families throughout our community.
This endeavor and the sponsorship dollars earned are designed to have a tangible impact on cancer patients and their families in Connecticut, and beyond. Congratulations to all the swimmers and volunteers who committed their time and energy to this important cause!
————————————————————-
Unemployment Claims Increase
Last week saw a rise in new unemployment benefit claims in the U.S., reaching an 11-month peak and indicating potential softness in the labor market. Mid-July data revealed a surge in the number of people receiving unemployment benefits, hitting levels not seen since late 2021. This trend may heighten concerns about a swift decline in the labor market, particularly given that the unemployment rate had already climbed to a 2.5-year high of 4.1% in June.
______________
Important Information
This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change.
Moneco Advisors, LLC and LPL Financial are not affiliated with any other referenced entity.
This commentary reflects the personal opinions, viewpoints and analyses of the Moneco Advisors employees providing such comments, and should not be regarded as a description of advisory services by Moneco Advisors or performance returns of any Moneco Advisors client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Moneco Advisors manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.