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Stock futures fall after Trump team says tariffs will go into effect on Aug. 1: Live updates CNBCAsia stocks slip amid US tariff confusion, oil skids ReutersDow Jones Futures Fall: New Trump Tariffs Coming, But Here's The Real Deadline; Tesla's Musk Forms Political Party Investor's Business DailyWeek Ahead for FX, Bonds: Tariff Deadline, Asia Rate Decisions in Focus WSJ
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Will "strength beget strength" as stock-market investors await a key tariff deadline?
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Pressure from Trump for trade deals before Wednesday deadline, but hints of more time for talks AP NewsBessent Says He Expects Trade Deals by This Week's Deadline The New York TimesStock Futures Are Falling As Trump Resets Tariffs to Aug. 1 Barron'sTrump says tariff letters to 12 countries signed, going out Monday CNBC
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Musk should stay out of politics, treasury secretary says after ‘America' party news The GuardianStock futures fall after Trump says tariffs to go into effect Aug. 1, not July 9: Live updates CNBCTrump slams Musk's third party as ‘ridiculous' The HillMusk says he is forming new political party after fallout with Trump CNN
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Oil prices fall as OPEC ramps up production; U.S. stock futures decline as tariffs to go into effect Aug. 1 MarketWatchOPEC members agree to larger-than-expected oil production hike in August CNBCOPEC's New Supply Shock Locks In Oil Market's Return to Surplus BloombergOPEC Plus Agrees to Pump More Oil in August The New York Times
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Is it true that many young professionals don't know how to save money?
I recently had dinner with an old college friend. I was expecting to catch up on friends, family and our careers, but it was clear he wanted some basic financial information.
Knowing I advise young professionals on their finances, he zeroed in on the following questions: "How much should I save, and how do I know if my savings plan is on track?"
SEE MORE Millennials Want a Different Kind of Retirement
Many highly talented and bright young individuals - often earning six figures, receiving an annual bonus and holding stock options - often struggle with how to spend and save their money. My advice is to develop a process that focuses on three fundamental ideas that anyone can use.
Control Savings and Spending by Paying Yourself First
Putting together a budget and tracking spending are useful tools - but they can be tedious and hard to sustain. Instead of starting with expenses, I begin by allocating the desired amounts of money to various savings and investment accounts.
I set up automated contributions to my 401(k) retirement account, Roth Individual Retirement Account (IRA) and after-tax brokerage accounts. Once that money is set aside, I have total peace of mind knowing I can afford to spend what's left and still be on track to hit my financial goals.
If, like me, you make the majority of day-to-day purchases on your credit card, another easy way to spot-check spending is making sure you can pay your credit card bill in full each month without tapping your savings.
Don't get me wrong - developing a detailed budget is a valuable exercise when done periodically. And it's parti
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