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The LynnLeigh JournalLife. Investing. And Everything in BetweenFinancial fitness goes beyond merely accumulating a substantial amount ofmoney in your bank account or owning an extensive collection of stocks andbonds. It's a common misconception that inheriting a significant sum orwinning the lottery equates to being financially savvy. Similarly, successfulcollege athletes transitioning to professional sports might find themselveswealthy overnight without a foundational understanding of finance. Inessence, acquiring wealth suddenly doesn't guarantee financial savvy.Lacking the essential knowledge of personal finance principles means thatswiftly gained wealth can vanish as swiftly as it came. Drawing on thewisdom of Proverbs 13, the message is clear: wealth acquired through quickschemes tends to dissipate, while wealth built through consistent hard workand careful planning tends to increase over time.Let's take a moment to clarify what we mean by financial fitness. It's theability to make informed financial decisions through acquired skills andknowledge, aiming to grow your wealth and secure your financial futureeffectively.WHAT IS FINANCIAL FITNESS?By Kelly L. Olczak, CFP® Brief Market Update - APositive Start to theNew YearWhat is FinancialFitnessNewsletterHighlights7 Steps to a BrighterFinancial FutureF E B R U A R Y 2 0 2 4V O L U M E 2Just for Fun - 10 Annoying Hotels Feesand How to Avoid Them.

Dream Big and Set Goals: Just like planning a road trip, knowing your destination is key. Without a goal, you’rejust wandering financially. Track Your Spending: Ever wonder where all your money goes? It’s time to play detective with your own finances.Keep tabs on everything for a couple of months, from the big bills to the fun stuff, and you might just find somesurprises.Save More Than You Spend: It’s not rocket science; saving is about spending less than you earn. Forget the myththat only the rich can save. It’s about living within your means. If you’re finding more month left at the end of yourmoney, it’s time to revisit your spending habits.Tackle Your Debt: Let’s strategize to knock out those high-interest debts. Yes, some debt can be smart for bigthings like homes or cars, but don’t let it derail your financial dreams. Remember, being in debt means you’reworking for your lenders. Automate Your Savings: Make saving painless. Automate deposits to your savings or retirement account. Startsmall; it’s the habit that counts. Before you know it, saving becomes second nature.Consider the start of a new year when many set resolutions, which are oftenbroad and akin to a vision statement. Goals, on the other hand, are specific,measurable, accompanied by a plan, and bounded by time.For instance, a resolution to be healthier in 2024 might be vague, like wantingto lose weight or exercise more. But setting a specific goal involves detailinghow much weight to lose, by when, and outlining a strategy to achieve it,possibly with the support of an accountability partner.Though we aren't personal trainers, the principles of setting clear goals applyto financial fitness as well. Financial fitness is about taking definitive stepstowards financial security and achieving your financial goals, be theyimmediate or distant.F E B R U A R Y 2 0 2 4 V O L U M E 27 Steps to a Brighter Financial Future

The economy seems fine. The job market seems fine. So far, there are few signs the economy is about to slip into arecession.In January, the Dow added to gains, setting new highs, and the S&P 500 Index eclipsed its prior high-water markmade two years ago (Yahoo Finance S&P 500).A loss on the final day of the month pared the market’s January advance, but the S&P 500 managed to finish themonth above its prior all-time high in early 2022.F E B R U A R Y 2 0 2 4 V O L U M E 2Invest With Purpose: Ask yourself why you’re saving. Is it for emergencies, a dream vacation, or future goals likeretirement or education? Your reasons will keep you motivated and on track, even when it gets tough. Begin with asimple, diverse investment plan and adjust as you go. The journey matters more than the occasional bumps. Don’t Hesitate to Get Help: It’s okay to not know everything about finances. Seeking advice B R I E F M A R K E T U P D A T EA Positive Start to the New Year

F E B R U A R Y 2 0 2 4 V O L U M E 2Put another way, the stock market seems fine. So, everything is fine, right?Well, we hit some turbulence on January 31. But down days are to be expected. Blame the decline on Fed ChiefJerome Powell, who made it clear at his press conference that a March rate cut probably isn’t in the pipeline.But was his remark really a surprise? It shouldn’t have been.In part, the Fed doesn’t want to be bullied into a rate cut. In part, several Fed officials had been downplaying aMarch rate cut. But, when the boss speaks, people pay attention.Besides, there aren’t yet any definitive signs that the economy is weakening. So,the Fed isn’t feeling that much pressure to hit the monetary gas pedal.However, the Federal Reserve is openly talking about rate cuts this year. A May orJune cut shouldn’t be ruled out.For now, the economy is expanding at a modest pace, inflation is coming down,and the Fed wants to see a little bit more evidence that inflation is headed back toits 2% annual target.Ultimately, we believe the economic fundamentals will clear a path for the marketthis year.Before we wrap things up, let’s define a couple of terms: soft landing andrecession. These terms pop up often in the financial press. They may be confusingfor some folks; therefore, let’s spell them out.According to Brookings, the Fed raises “interest rates just enough to slow the economy and reduce inflationwithout causing a recession. It has achieved what is known as a soft landing…. Soft landings are the equivalentof ‘Goldilocks’ porridge.’ Following a tightening, the economy is just right—neither too hot (inflationary) nor toocold (in a recession).”The National Bureau of Economic Research defines a recession (a hard landing) as a “significant decline ineconomic activity that is spread across the economy and that lasts more than a few months.” A recession isaccompanied by significant job losses.The fabled “soft landing” that allows the Fed to cut interest rates as inflation slows (and not from economicweakness) has historically provided the most support for stocks. We view this as the best-case scenario forinvestors.

F E B R U A R Y 2 0 2 4 V O L U M E 2Recessions in 1974, 1990, 2001 and 2008 led the Fed to cut rates, but recessions squashed corporate profits, andinvestors took their cues from weak corporate earnings, not falling interest rates.However, equities benefited from rate cuts in 1984-85, 1995 and 2019. The monetary easing was not in responseto a recession but from a recognition that rates had risen enough to slow economic growth and prevent anunwanted rise in inflation.A slight tap on the monetary pedal was in order, and investors responded enthusiastically.10 Annoying Hotel Fees and How to Avoid ThemPlanning your summer getaway? Chances are, you’ve been scouring the internet for the perfect place to stay, tryingto balance top-notch amenities with affordability. But if you've ever found hotel pricing confusing and full ofsurprises, you're not alone. Those sneaky extra charges, known as hidden hotel fees, have been making budgetingfor vacations harder since they became a thing back in 1997. These fees can take a big bite out of your travel fund, often popping up only after you've booked or as you'rechecking out, leaving many travelers like you stunned, according to Anne Banas, the expert fromSmarterTravel.com

F E B R U A R Y 2 0 2 4 V O L U M E 2The good news? Change might be on the horizon. Senators Jerry Moran and Amy Klobuchar have introduced theHotel Fees Transparency Act, aiming to make sure that any advertised price for hotels and short-term rentalsincludes all the costs you'll actually pay. Plus, the FTC is stepping up, proposing a rule to eliminate those frustratingjunk fees, ensuring prices are fair and transparent, helping protect consumers and support honest businesses.Sen. Klobuchar puts it simply: “It’s too common for people booking online to be hit with hidden fees, making ittough to figure out the real cost of a hotel stay. Our bipartisan effort aims to clear things up so travelers can bookwith confidence, knowing exactly what they’re paying for.”When booking your next hotel stay, keep aneye out for these sneaky fees. Anne Banasfrom SmarterTravel.com shares her top tipsfor keeping these extra charges off your bill:1. Resort Fees: These fees cover the myriadactivities and services at resorts, chargedwhether you use them or not. Tip: Ask aboutthese fees when booking and check your billto ensure you're not charged for unusedservices.2. Early Check-In Fee: Arriving before yourcheck-in time might cost extra. Tip: If you'reearly, see if the hotel can hold your bags forfree so you can explore hands-free untilcheck-in.3. Extra Person Fee: Extra charges for additional adults in a room are common. Tip: Know about this fee upfront tofind hotels that don’t charge it, especially if traveling with more adults.4. Wi-Fi Fee: Yes, some places still charge for internet access. Tip: Joining the hotel’s loyalty program often nets youfree Wi-Fi, and budget hotels are more likely to offer it at no charge.5. Mini-Bar and Snack Fee: Beware of costly mini-bar items and seemingly complimentary snacks. Tip: Avoidunexpected charges by not moving mini-bar items and clarifying if snacks and water are free.6. Parking Fee: Parking in city hotels can add a significant amount to your bill. Tip: Research nearby parkingoptions or look for hotels offering free parking promotions.7. Gym Fee: If you didn't use the hotel gym, make sure you're not being charged for it. Tip: Always check your bill forfees like these and request their removal if you didn’t use the service.

F E B R U A R Y 2 0 2 4 V O L U M E 28. Housekeeping Gratuity: Some hotels automatically add a gratuity for housekeeping. Tip: Check your bill toavoid double-tipping.9. Spa Gratuity: Ask if a gratuity is included when booking spa services to avoid over-tipping. Tip: Clarify chargesbeforehand to ensure you only pay what's expected.10. Telephone Surcharge: Using the hotel room phone can be costly. Tip: Use your own mobile phone for calls toavoid these fees.Banas reminds us that while dodging these fees requires a bit more effort, the savings can make it worthwhile. Andeven if you can't avoid a fee, don't sweat the small stuff if you've secured a great rate at a nice hotel.Final thoughts...We‘re just kicking off February! Let's keep in mind that getting financially fit is more like a long hike than aquick dash. Use the tips and insights from this newsletter to help you make smarter money moves. Every step you take, from setting solid goals to keeping an eye on where your money goes (watch out for thosesneaky fees!), moves you closer to your financial dreams. Let’s lean on each other in our community,celebrating our wins and learning from the bumps along the way. Here's to a month filled with positive steps,empowerment, and sticking to our financial fitness plan. Stay inspired, stay informed, and keep pushingtowards your money goals. Cheers to making this February a key part of our financial fitness journey!Have a wonderful month, and we will reconnect in March!Go Bills! (I know, I know)LynnLeigh & Company - A Registered Investment AdvisorThis information is provided by LynnLeigh & Co. for general information and educational purposes based upon publicly available information from sources believedto be reliable – LynnLeigh & Co. advisors cannot assure the accuracy or completeness of these materials. The information presented here is not specific to anyindividual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayerfor the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or herindividual circumstances. The information in these materials may change at any time and without notice. Past performance is not a guarantee of future returns.