The Weekly Wealth of Knowledge is your download of this week's most important topics related to our community, financial planning, and the markets. December kicks off "small business" month at MONECO. All month long we will be highlighting ways we can all support small businesses within our local communities this holiday season and beyond.
In this issue:
• Breakfast Time (2 min read)
• Tips To Control Holiday Spending (2 min read)
• Retail Sales Drop (4 min read)
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Breakfast Time
At MONECO, we pride ourselves in striving to always be giving back to the communities which we are so fortunate to serve in. Last week we highlighted Derrek Metz on the team and this week it is Scott Flynn's turn. Scott is a member of the Ancient Order of Hibernians, which is a Catholic, Irish American Fraternal Organization founded in New York City on May 4, 1836. The purpose of his local division is to advance and to promote helping others in need throughout the Greater Bridgeport, CT area. One of the quarterly events that the organization supports is to cook and serve up breakfast for those that are less fortunate at the Merton House. So the day after Thanksgiving this year, Scott (pictured center left) and the AOH team stepped in to do just that. Scott stated, " Volunteering and giving back through working with the AOH, really helps to put things into perspective for me and at the same time a very rewarding experience to be helping those folks locally that need it." Way to go Scott!
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Tips To Control Holiday Spending
As financial planners we see many clients who make spending mistakes at this time of year that will have long term impacts later down the road. Although we are not playing Grinch, it is important to review your holiday spending plans to ensure they will not adversely effect your financial plan. Here are 8 tips to help you keep your holiday expenditures in check.
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Retail Sales Drop
Despite the historical busy holiday shopping season that traditionally occurs this time of year, retail sales actually dropped in November to an 11 month low. This could be yet another sign that the economy is slowing and although the labor market still remains tight, another indicator of what the Federal Reserve wants to see. As always, if you have any questions, do not hesitate to reach out to the office.
Your entire team at MONECO would like to take this time to wish you and your families a happy & healthy holiday season!
The opinions voiced in this material are for general information only and are not intended to provide specific financial or tax advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.