THE DOWNLOAD MONEY MATTERS
FALLING RATES With the Federal Reserve cutting
interest rates, keep an eye on any adjustable-rate debt and assess whether it makes sense to transfer high-interest credit card balances to those with lower rates. It may also be time to refinance your mortgage and car loans. When shopping for loans, compare off ers from multiple lenders. If you’re in the market for a home, lower rates could make now a good time to buy as well as a good time to sell.
SUBDUE THE SURGE To tackle surge pricing eff ectively, Peters suggests employing some practical strategies beyond the obvious tactic of skipping eating out on New Year’s Eve or on Super Bowl Sunday. He says there are also a couple of
ways consumers can use surge pricing to their advantage. For example: Flip the pricing shift. Restaurants
that raise prices during peak hours also often reduce prices of meals or drinks during slower times, like weekday afternoons versus Friday or Saturday evenings, to balance the fl ow of business. “If you’re able to be fl exible,
dining during a restaurant’s slow period can yield the same quality food and experience at a more aff ordable price, making it an attractive option for your taste buds and budget,” says Peters.
Watch for the deals. Dynamic
pricing is creating special drink and appetizer deals at many restaurants during lower-demand times, especially when ordering online or via an establishment’s app. For example, McDonald’s
regularly off ers off -peak promotions on its app, like discounts on weekday breakfast items (not available on busier weekend mornings) and others. Off ers change weekly. “On a typically quiet Tuesday
evening, you might see a bar lower the price of certain cocktails or beers,” Peters says, “not only to encourage more customers to stop in during these times, but to provide those consumers with a chance to sample premium drinks at a lower cost, which the restaurant hopes they’ll reorder when visiting on a subsequent visit when surge pricing is in eff ect.”
SAVINGS BOOST According to Fidelity, Americans’ 401(k)s did well this year, increasing by 13% on average in the first three quarters. The S&P 500 is up about 18%. If you want to boost your balance: 1. Max out your contributions. In 2024, the max for 401(k) contributions is $23,000 for those under 50 and $30,500 for those over 50. 2. Increase the percentage of income you contribute annually or whenever you get a raise. 3. Contribute to the full extent of your employer match and resist the urge to tap into your 401(k) unless absolutely necessary.
WHAT’S IN YOUR 401(K)? Baby Boomers average $242,200 Gen Xers $182,100 Millennials $62,000 Gen Zers $12,000
STREAMING DEALS If you’re being nickeled and dimed
paying for seven diff erent streaming apps, you need a bundle. For example, Disney+ will run you $13.99 monthly; Hulu, $18.99; and Max, $16.99 individually without ads. When you bundle, you get multiple streaming platforms at a lower rate. For instance: Disney+ and Hulu: $10.99 with ads,
$19.99 without Disney+, Hulu, and ESPN+: $14.99 with ads, $24.99 without Disney+, Hulu, and Max: $16.99 with
ads, $29.99 without Peacock, Netflix with ads, and Apple
TV+: $15. DECEMBER 2024 | NEWSMAX MAXLIFE 81
FILADENDRON/GETTY IMAGES
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