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Financial advisor Cassandra Cummings has taught more than 100,000 Black women start investing in the stock market. Here are four investments she recommends for beginners, including REITs and dividend stocks. Real estate investment trustsInvesting in real estate can require large sums of cash on hand to close sales, make renovations, and maintain properties. On the other hand, real estate investment trusts (REIT) are companies that own, operate or finance income-producing real estate ventures. It's an easy way to start investing in real estate if you don't have the capital to invest in your own rental property.

Workers who get paid in cash, especially sex workers, face extra challenges during tax season. But people who work in cash economies — like sex workers, bartenders, servers, and side-hustlers who get paid in cash — face additional challenges during tax season. "I just remember feeling so paralyzed any time I thought about finance," sex worker and tax preparer Daisy Douglas tells Insider. Insider's Featured Tax Software Tax SlayerLiberty TaxH&R Block Tax Software Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. "Assert your rights and let them know that this is the way tip income is supposed to be reported."

Financial planner Cindy Scott recommends taking three steps to save your marriage from money troubles. The impact of a job loss can go beyond just derailing financial plans. If you've been laid off from your job and it's causing problems in your marriage, Scott recommends taking these three steps:1. Seek professional helpIt may seem counterintuitive to seek professional help for marital money problems when you're making less money. Scott recommends seeing a budget counselor, a therapist, or couples' counselor to help you sort through issues in your marriage.

If you're dating someone new, here are five red flags around money you should be looking out for:1. Pros Check mark icon A check mark. Low annual fee for investment accounts; crypto trust investments available Check mark icon A check mark. Tax-loss harvesting Check mark icon A check mark. Mobile app and investing and retirement tools Check mark icon A check mark.

If usual recommendations like driving for Uber or pet-sitting haven't worked for you, consider these 5 side hustle ideas for extra cash. Here are some of the most common side hustles that people try, and how much they pay on average, according to the employment website Indeed. If you've already exhausted these common side hustle ideas, here are five others that can help you earn an extra $500 per month. If you have extra time on nights or weekends, you can use apps like Handy or Maids App to find extra work. Since most Americans do their shopping online, warehouse jobs are here to stay, plus they offer flexible hours.

The survey also shows that most credit card users are charging everyday expenses to pay for things they can no longer afford due to inflation. Instead, put yourself in the good graces of your credit card, utility, or mortgage company by reaching out proactively, she says. Consolidate your credit cards into one personal loanCollado also recommends taking out a personal loan to consolidate your credit card bills. When you carry a balance from month-to-month, it can be difficult to get out of credit card debt. A credit card that offers a 0% introductory APR can help you pay off your debt faster if you're carrying a credit card balance.

If you're worried about market volatility, financial planner Alex Alba recommends moving your money out of the stock market. Put one to five years worth of expenses in a CD or high-yield savings account instead. The remaining amount can be split up in these three places, if you're worried about a recession that could cause big swings in the stock market. High-yield savings accountAlba's next recommendation is to move some of your retirement nest egg into a high-yield savings account. However, money kept in high-yield savings accounts isn't going to decrease in value the same way that money in the stock market might during volatile periods.

Under a Biden administration plan, married couples filing taxes separately could get student-loan payments eliminated altogether. When filing separately, you can use your lower AGI to get lower monthly payments. Married couples could lower their monthly payments even more by filing their taxes separately, Hornsby says. Use this equation to calculate your new monthly student-loan paymentsHere's an equation you can use to estimate your new monthly student-loan payments, factoring in the new proposed IDR regulations. When filing separately, married people are no longer eligible to claim the $2,500 student-loan interest tax deduction.

The Biden administration has proposed changes that could dramatically lower monthly student loan payments. The plan calculates monthly payments based on a borrower's discretionary income. Insider's Featured Student Loan Refinance Companies SoFi Student Loan RefinancingSplash Financial Student Loan RefinancingEarnest Student Loan Refinancing Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. APR Variable: 4.49% - 8.99%, Fixed: 4.49% - 8.99% Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Variable: 3.99% - 8.99% with AutoPay, Fixed: 4.39% - 8.99% with AutoPay Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Actual rate and available repayment terms will vary based on your income. According to the Education Data Initiative, half of student loan borrowers still owe $20,000 each on outstanding loan balances after 20 years of entering school.

During the pandemic, 300,000 public school teachers and staff left the profession, The Wall Street Journal reports. Pros Check mark icon A check mark. Low annual fee for investment accounts; crypto trust investments available Check mark icon A check mark. Tax-loss harvesting Check mark icon A check mark. Mobile app and investing and retirement tools Check mark icon A check mark.

2022 is the second year of a long journey to pay off my student loans and credit card debt. I also made a payment plan with credit card companies to stop my debt from accruing compound interest. I racked up over $20,000 of credit card debt, then rage-quit my job without a backup plan. Before the refinance, from January 2022 to July 2022, the minimum payment on my private student loans was $670. Here are the three crucial steps I took to pay down nearly $11,000 worth of debt in one year.

I used to set unrealistic New Year's resolutions, like swearing I won't eat out all year to save more money. This year, I'm setting five microsavings goals to help me save $2,750 and invest $1,050 by the end of the year. That surprise money made such an impact on me that I decided to apply it to my 2023 savings goals. To meet that savings goal, I'm saving 10% of my paycheck, roughly $200, until April 2023. After buying my laptop in April 2023, I plan on saving 5% of my paycheck, roughly $100, toward my Oaxaca trip.

Both siblings used sinking funds to save for their trip slowly. To pay for the trip, each used a savings approach known as a sinking fund. Israel used part of the savings to fund his share of the Mexico City trip. The siblings used sinking funds to save small amounts over timeEach sibling went about using sinking funds differently to save for their trip. Israel used money from that sinking fund to pay for meals on their family's Mexico City Trip.

Debt-settlement companies negotiate with credit card companies on your behalf when you have multiple missed paymentsDebt-settlement companies work as go-betweens that negotiate with your creditors to reduce or eliminate the amount you owe. Mitchell's credit card debt spun out of control because of compound interestLike many Americans, the source of Mitchell's money problems was too much credit card debt. Without refinancing or outside help, it can be practically impossible to get out of credit card debt. A common strategy to get out of credit card debt faster is to refinance your debt into a personal loan with simple interest. "When you are seriously overdue on credit card debt, usually 90 days or more, you may be able to negotiate to pay off your debt for less.

Entrepreneur Ellie Diop is passing down to her kids three money lessons she wishes her parents had taught her early on. Diop also wants her kids to learn how it feels to be paid fairly for their work. Today, Diop is teaching her children three key lessons about building wealth that she wishes she learned from her parents. Diop wants her kids to learn how to properly manage their money"I grew up with a single mother," Diop says. By paying her kids for small tasks around the office, Diop wants to teach them how to have a different relationship with money than she did growing up.

Budgeting coach Clarissa Moore knows firsthand how hard it is for other single moms to manage their finances. You should also adjust your budget on a regular basis and start small with savings. Here are five key pieces of budgeting advice Moore has for other single moms seeking to better manage their finances. Start small with your savingsMoore knows firsthand how many financial hurdles get in the way of single moms building real wealth. 4. Review your budget regularlyOnce you start budgeting and tracking your expenses, Moore says you'll begin to understand your spending patterns more clearly.

30-year-old Vee Weir made an extra $16,000 this year from dog-sitting. Weir has three tips for beginner pet-sitters looking to make extra cash for holiday gifts. According to records reviewed by Insider, Weir earned an extra $16,118 from her dog-sitting side hustle so far in 2022. While she earned $5,841 from Rover, Weir says she made the bulk of her side-hustle income from word-of-mouth clients. ask clients to leave testimonials for pet-sitters and dog-walkers.

A harrowing car accident in 2009 forced single mom Clarissa Moore to overhaul her finances. Moore found short-term side hustlesAfter finding stable ground at her corporate job, Moore had time to pursue side hustles that she was passionate about. In 2019, Moore started Clarissa Explains Money, a money coaching service that helps women create budgets aligned with their goals. Her one-bedroom rental property costs $1,205 per month and she pays $566 monthly for its mortgage for a net profit of $639 a month. Of her passive income stream, Moore says, "This is what I always wanted.

"Queer Eye" host Tan France says he noticed four key money differences between Brits and Americans. France writes, "On the whole, if you have money in America, you buy stuff. Circling back to American car culture, France said he couldn't understand why Americans take out loans to buy fancy new cars, especially when their older models still work. Before joining the cast of "Queer Eye," France was a businessman looking for independent health insurance. France writes, "It's the best con, but it's perfectly legal."

Finance expert Dominique Broadway tells moms who want to start investing that it's never too late. Financial coach Dominique Broadway, the CEO of Finances Demystified, urges moms to change their mindset and start making time for investing. If you're a busy mom who wants to start investing, here are Broadway's four tips to get going. Automate your investmentsBroadway suggested a "set it and forget it" strategy for moms who wanted to start investing. "With technology, there's just no reason for anyone not to start investing," she said.

Garcia split her savings into index funds, I bonds, and a high-yield savings account. Index funds are passively-managed investment vehicles that track a particular market index. A high-yield savings account is a savings account with interest rates up to 3.8%, which is higher than a regular savings account's average interest rate of 0.16%. "I've been doing this all year, just putting some money away in the stock market. I have about $8,500 in my savings account right now, and I do plan on deploying another $5,000 of that."

Instead, she invested more than half of her $40,500 down payment savings in the stock market. She took the second failed attempt at buying as a sign to shift gears on her house hunt and make better use of her down payment savings. She transferred $10,000 of her down payment savings into an I bondGarcia now has $18,586 in her down payment savings fund. She decided to invest $10,000 of that into a type of savings bonds issued by the US Treasury known as I bonds. By transferring her down payment savings into I bonds, Garcia is letting her down payment savings grow passively until she's ready to buy her first property.

Garcia tells Insider, "I was inputting some numbers into a retirement calculator, and it let me put in my age. Pros Check mark icon A check mark. Low annual fee for investment accounts; crypto trust investments available Check mark icon A check mark. Tax-loss harvesting Check mark icon A check mark. Mobile app and investing and retirement tools Check mark icon A check mark.

They fired their financial advisor and decided to manage their investments independently. "Investing in index funds had been around for decades but had been cast as a boring, predictable, and lazy approach to investing. While Julien's financial advisor wasn't intentionally malicious, Julien was shocked to learn that his financial advisor wasn't legally obligated to make recommendations in his best interest. That's index funds — kind of boring, but a safer place for your cash over the long run. "When you're investing in index funds, you're betting on the fact that overall a given index will continue to deliver favorable results," the couple writes.

☆ An LGBTQ-owned auto shop started an online fundraiser to cover $25,000 in funeral costs for Club Q shooting victims. In 2 days, donors raised nearly $700,000.
▼ + stars: | 2022-11-23 | by ( Leo Aquino | ) www.businessinsider.com time to read: +4 min

Donors raised $25,000 in just two hours. At the time of this writing, donors raised nearly $700,000. Haug created a GoFundMe campaign, and donors raised $25,000 in two hoursHaug created a GoFundMe page for the victims of the ClubQ shooting. The campaign raised nearly $700,000 in two daysAt the time of this writing, the campaign raised $686,596 with over 17,600 donors. The funds raised are a testament to the power of the LGBTQ+ community and their allies on social media.

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