Broker Check

Monday Money Report

| November 29, 2021

The latest Covid variant threw the market into a tailspin on Friday, with the drop almost wiping out the gains for the month of November. We still see strong economic fundamentals, but the fear of another wave and possible lockdowns spooked the market.

If you didn’t finish your Christmas shopping over the weekend, take the time now to make a list. Identify who you are buying for and set a price range for each person.  Plan what you’d like to give each person within that budget.

We know that buying experiences is on of the ways that money makes you happy, so consider an event with your friend, relative, or significant other.  Instead of trading more things you may not really need, go somewhere or do something together.

If you do go to the store, bring cash.  That budget we just talked about? Go to the bank and take out that much money.  If you can get new bills, that’s even better.  Your brain doesn’t register spending with a credit card as spending money. It’s easier to spend more than you planned when you shop with a card. Bills, especially new ones, are harder to part with than tapping a card.

Bring your list and stick to it.  You can also use your smart phone to comparison shop. Many stores have apps or frequent buyer programs that will offer discounts.  But be thoughtful about store credit cards.  Adding multiple cards can reduce your credit score. And both store cards and some discount programs will encourage you to buy more than you had planned.  If you spend more than planned, you’re not saving anything.

For children, especially with family, consider experiences: zoo or museum memberships or classes. You can also give contributions to the Maryland 529 College Savings Plan.

Your action to take this week is to develop your holiday budget.  Be sure to check out our website at, as well as our Facebook page for more information.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Great Valley Advisor Group, a Registered Investment Advisor. CovingtonAlsina and Great Valley Advisor Group are separate entities from LPL Financial.

All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. 

The opinions voiced in this show are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investment(s) may be appropriate for you, contact the appropriate qualified professional prior to making a decision.