Morning Download 

Personal finance + economics + markets

Good morning, investors! If you are an Apple fan then we’ve got you covered with the new product announcements today, plus some great finance tips.

Fun fact: Apple originally had three co-founders, including Ronald Wayne, who left the company only 12 days after it was founded. He sold his 10% share for only $800, but if he had stayed, his shares would be worth around $60 billion today. Oops! 🍎 

Today we cover:

• Americans aren’t getting richer

• The new iPhone

• Financial tips for young adults

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📊 Economy and News 

Americans continue to get poorer

Look at your income. Has it gone up? You’re lucky if it has because the US household income fell in 2022 for the third straight year.

How much? Real median household income fell by 2.3% to $74,580 in 2022, down from $76,330 in 2021.

Are we poor now? Yes, especially because inflation in the same period rose 7.8%, which is the largest annual increase since 1981.

So Americans are down 10.1%! Even worse, some economists have estimated Americans are down 19% as incomes dropped and the cost of most goods, like food, have increase in price by 16% since last year.

But that’s not what the report says: Despite these changes, the official poverty rate did not change much and hovered around 11.5%.

Despite the fall, the US is still the country with the highest income per capita standing at $62,334.17 (disposable income).

Global hits:

• Moscow says it doesn’t care about the US as it welcomes North Korea’s Kim.

• IEA chief expects demand for coal, gas, and oil to peak by 2030.

• China rejects Western concerns, adds the economy is resilient.

📈 Stocks

S&P 500 4,461.90 (-0.57%)
DJIA 34,645.99 (-0.051%)
NASDAQ 15,289.74 (-1.111%)
VIX 14.22 (3.04%)
* Prices as of Sep 13th, 12:20 AM UTC

Apple has entered the game

Apple has announced the latest iPhones; here’s all we know about the upcoming product:

• The iPhone 15 will start as low as $799 and the iPhone 15 Plus will start from $899.

• Apple iPhone 15 can call roadside assistance via satellite.

• iPhone 15 Pro will ship with a titanium case, the ‘lightest’ and ‘thinnest borders’ on an iPhone ever.

• iPhone 15 Pro will come in three colors: silver, black, and blue.

• The new iPhone will feature USB C charging.

In addition, the company has announced several other new products, including Apple Watch Ultra 2 priced at $799. Buyers will be able to get their hands on these products from September 20th.

However, despite the announcement, Apple fell 1.71% during the day to close at $176.30.

🔐 Crypto

Bitcoin $26,070 (3.04%)
Ethereum $1,598.44 (3.14%)
Total market cap $1.04T (3.24%)
* Prices as of Sep 13th, 12:20 AM UTC

Here’s what’s happening in the crypto world:

• Standard Chartered-owned crypto firm Zodia has entered the Singaporean market.

• Bitcoin is facing stiff resistance and struggling to break the $27K mark, but had a great day yesterday.

• AI is affecting the crypto market.

• Franklin Templeton is the latest brokerage to file for a spot Bitcoin ETF.

💵 Personal Finance

Remember these tips for a secure financial life

Use cash, not credit

The world is changing and we’re now more dependent than ever on plastic money but this has to change. You can control cash but you can’t always control cards, so grow the habit of using cash over cards.

Educate yourself

Make it a point to learn about personal finance and money.

• You’re reading this newsletter? Great.

• You wanna check podcasts? Even better.

• Attending a seminar? That’s awesome.

• Considering an online finance course? Fantastic!

All these are ways to expand your knowledge and learn to manage money.

There’s always something new to learn. Things are changing. We didn’t have cryptocurrencies yesterday, but now we do. We don’t have BTC ETFs today, tomorrow we may.

So stay ahead of the crowd.

Get educated but without loans

Stay away from all kinds of loans, including credit card loans, student loans, and more. A house loan, however, might be a good option but only if you plan it right.

With proper planning, a house mortgage can be very beneficial, i..e: you might end up with a house of your own without any financial burden.

But, no matter what kind of loan you apply for, only choose if you are sure you will be able to pay it back in a timely manner.

Don’t make the mistake of ruining your credit score as it can spoil your financial standing.

Budget and stick to it

Once you have gone through some personal finance guides or videos, sit down and create a budget. These days, it's easier than ever thanks to budgeting apps like Mint and YNAB.

These apps come with both paid and free features and can make your life easier. They allow users to perform a variety of tasks such as setting financial goals, managing investments, categorizing spending, and more.

Those who do not want to use an app can stick to the traditional method or use tools like Excel and Microsoft Word.

Save and make money

The only way to grow wealth is to save what you make and earn more. Here’s what you need to do

• Find a better job and don’t be afraid of asking for a raise. If you think you deserve it then you probably do.

• Look for side gigs. Freelancing can be a great way to earn money with many freelancers making over $50 per hour.

• Start an emergency fund and use it only for emergencies. Also, try to keep at least 6x of your monthly expenses in your emergency funds.

Don’t be afraid of trying new ways to earn and save money. For example, you can automative savings, invest in stocks, etc.

Understand taxes and insurance

Taxes and insurance are two very complicated areas. However, it’s important that you understand each to be able to save money and stay away from legal issues.

Pay taxes but be smart. Know how you can save tax money. There are tax incentives and rebates that can reduce your tax burden. Similarly, go for insurance as it can protect you in case of a mishap.

This is important even when insurance is not mandatory.

Now that you know what to do to manage money, we suggest you watch this video to know what not to do:

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.