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How Avoid Big Holiday Spending Traps & BlackRock Files For a Spot ETF Backed by Crypto | Wealth Wednesday
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Welcome to a new weekly series we are launching on the Latin Wealth platform, Wealth Wednesday! On Wealth Wednesday, we will be discussing trending news, Latino culture and topics surrounding business, host by @chrisbelloso and @ricoramirez86.
On today's episode we discussed:
Ether spikes 10% to its highest level in 6 months as BlackRock files for a spot ETF backed by the crypto
- Etherum the world's second largest cryptocurrency by market cap, surged as much as 10% to hit a six-month high before paring some of its gains Friday.
- BlackRock, the biggest asset management company, with over $10 trillions in assets management filed for a spot ether ETF on the Nasdaq exchange.
- On Thursday, reports emerged BlackRock had registered the corporate entity "iShares Ethereum Trust."
- Owned by black rock follows the trends of other ETFs
How avoid big holiday spending traps
Plan early and often
- Consumers expect to spend an average of $1,530 this holiday season, according to PwC’s 2023 Holiday Outlook.
- Specifically, consumers have allocated $786 to spend on gifts, $510 on travel, and $234 on entertainment.
- 4,000 consumers surveyed for this study had already planned their holiday spending budget, or if responding to the survey was what prompted them to think about holiday costs.
Beware of the “what the hell effect”
- blowing your holiday budget can make you vulnerable to what psychologists call the “what-the-hell” effect.
- This effect describes how going over budget (or otherwise indulging) feels like an all-or-nothing proposition. If you go over the holiday spending plan a little, you may think it’s reasonable to keep going since you’ve already “failed.”
Leave room for holiday surprises
- Not all holiday spending goes according to plan.
- There are always things like last-minute gifts, higher utility bills, shipping costs, and extra food purchases during the holiday season that you might have forgotten to include in your holiday budget.
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