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When a friend told me she's changing jobs, careers, and industries, I shared classic advice from my dad. First, he told me years ago, make sure you're financially stable. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Save as much money as you canStarting a new job, career, or business can exhaust a lot of resources.

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☆ An expert who spent 6 years studying financial behavior says retirement can sneak up on women — but there are 3 ways to get ahead of it
▼ + stars: | 2023-11-21 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +4 min

Retirement saving can be difficult for women because of lower wages and time out of the workforce. To avoid being unprepared for retirement, women should start saving for retirement as early as their 20s. Start saving early, get out of debt, and create multiple streams of income. If women can start saving as early as possible, as early as their 20s, she says, they will be better prepared for retirement. Save often and start early"It's important for women to start saving money for retirement as early as possible," Tisdale told Business Insider.

Persons: —, Stacey Tisdale, Tisdale, Robinhood, " Tisdale Organizations: Service

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). My dad taught me a credit card is not an extension of your income — it's credit the issuer expects to be repaid. Once I graduated college, started working, and bought my first house, I decided it was time to get my first credit card. Right now credit card debt is at an all-time high of over $1 trillion according to a report by the New York Federal Reserve. Find the Right Card for You Checking to see if you're pre-approved for a credit card offer can help you find the right card while safeguarding your credit score.

Persons: — Organizations: Service, New York Federal Reserve

☆ Even though turkey prices dropped, Thanksgiving dinner won't be cheaper this year. Here are 5 ways to bring costs down.
▼ + stars: | 2023-11-17 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +4 min

Turkey costs may be down, but Thanksgiving dinner will still be expensive this year. Make dinner a potluck, opt for cuts of turkey instead of the whole bird, or use a Thanksgiving meal kit to save. Inflation is finally slowing down and turkey prices have dropped, but Thanksgiving dinner will still be expensive this year. You will be surprised at what you already have on hand that you can whip up for Thanksgiving dinner. Use a Thanksgiving meal kitIn an effort to make Thanksgiving prep easier and less expensive, several retailers have put together Thanksgiving meal kits that have all you need in one place and for a budget -friendly price.

Persons: —, Wells Organizations: Service, Wells Fargo AgriFood Institute, Walmart, Aldi, Target Locations: Turkey, Wells Fargo

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Using your credit card rewards can save you money on travel, gifts, and the credit card bill. You can also earn rewards by strategically using your credit card to cover groceries, shopping, and travel. But your holidays don't have to be more expensive — if you use the right credit card rewards to make those purchases, you can save yourself some money. Here are three ways to use your credit card rewards for holiday shopping:1.

Persons: — Organizations: Service, National Retail Federation, National Retail

☆ Verizon and AT&T are now requiring debit card payments to get the full autopay discount. Here's how to decide if it's worth it.
▼ + stars: | 2023-11-11 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com time to read: +6 min

But your credit card rewards and cell phone protections may be worth more than the monthly savings. Credit card transactions cost businesses more than debit card payments. Credit card issuers use those extra fees to fund credit card perks such as rewards and discounts. The main difference between linking a debit card and a credit card is account protection. Fees no monthly service fee Annual Percentage Yield (APY) None Minimum Deposit Amount $0 Pros Check mark icon A check mark.

Persons: —, Cash Organizations: Verizon, AT, Service, Discover, Discover Bank Locations: Canada, Mexico, Caribbean

Inflation and Fed hikes have pushed mortgage rates to their highest rate in 20 years. 30-year mortgage rates are expected to fall in 2024. Before you rush to buy a house, look beyond the interest rate. Before inflation and high interest rates, mortgage rates were around 3% … now they can be as high as 8%, the highest rate in 20 years. Here are three signs you shouldn't rush to buy a home even if interest rates fall.

Persons: —, you've Organizations: Service, Quicken Locations: American

My dad let me know that I was spending my money as fast as I was earning it. He told me to handle the money I already had better by paying cash, living within my means, and ditching debt. When I first started making real money, I quickly found myself in a position where there was more money going out than coming in. My dad didn't agree. "You just started working," he said, "you don't have a financial cushion, and as soon as you get paid you are spending money."

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Thanksgiving is the peak day for home cooking fires, with more than three times the daily average of incidents. Thanksgiving is the most fire-prone day of the year and the peak day for home cooking fires, according to the National Fire Protection Association. There are more home fires on Thanksgiving than any other day of the year, with more than three times the daily average. Unattended cooking was by far the leading contributing factor in cooking fires and fire deaths. Thanksgiving fire safety tips:The NFPA shares the following tips to reduce the chances of a fire over the Thanksgiving holiday:1.

Persons: —, you'll Organizations: Service, National Fire Protection, NFPA Locations: Turkey

Using a debit card instead of a credit card can also protect your credit score. Despite conventional wisdom that you should use a credit card for most charges, there are several benefits to using a debit card. Using a debit card may earn you rewards or pointsDebit card rewards may not be as numerous as their credit card counterparts, but you can still earn perks from everyday spending. Fees no monthly service fee Annual Percentage Yield (APY) None Minimum Deposit Amount $0 Pros Check mark icon A check mark. Using a debit card is also a great way to get used to handling money before you get a credit card.

Persons: —, Cash Organizations: Service, Federal Reserve, Apple, Discover, Discover Bank Locations: Canada, Mexico, Caribbean

If your package has been lost or stolen, reach out to the sender or seller about a replacement or refund. But with the joy of the holiday season comes the headache of package theft. So as we approach another season of packages and deliveries, what should you do if you have an Amazon package stolen, a USPS package missing, or a UPS package lost? Contact the retailerIf in fact your package has been lost or stolen, contact the retailer and let them know what has happened. File a claim with the shipping companyYou can file a claim for a stolen package with Fedex and UPS.

Persons: — Organizations: Service, Fedex, UPS, U.S

If you can't pay off your credit card balance, consider a debit card while you pay down that debt. If you're more prone to impulsively swiping your credit card online or in person, stick to using your debit card. If you already have credit card debt, don't add to it by continuing to use the credit card. You can also consider a prepaid debit card, which is similar to a regular debit card but isn't connected to a checking account. Fees no monthly service fee Annual Percentage Yield (APY) None Minimum Deposit Amount $0 Pros Check mark icon A check mark.

Persons: —, Cash Organizations: Service, Federal Reserve, Discover Bank Locations: Canada, Mexico, Caribbean

After my dad stressed the importance of saving, I decided to focus on different financial goals. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . If you want to know how you find yourself living paycheck to paycheck, ignoring this advice is it. A bit of truth here: The thought of living paycheck to paycheck really scares me.

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☆ Goldman Sachs asked over 2,000 Black women in the US about their money and the numbers are grim — but ripe for change
▼ + stars: | 2023-11-01 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementGoldman Sachs' Black Women Initiative released a new report that asked over 2,000 Black women about money. In an effort to shed light on critical workforce disparities affecting Black women, Goldman Sachs' Black Women Initiative released a new report: "Money Matters: One Million Black Women Economic Mobility Survey." In fact, 63% of Black women report that they are optimistic about their futures. This comprehensive investment in Black women includes direct investing, which emphasizes financial health and digital connectivity across areas that directly impact Black women and their lives. It's led by Black women, advised by a council of Black leaders from across the country in partnership with Black women-led organizations, and most importantly centers Black women with the goal of positively impacting over 215,000 Black women across the core investment pillars of healthcare, job creation and workforce development, education, affordable housing, digital connectivity, financial health, and access to capital.

Persons: Goldman Sachs, —, Asahi Pompey, It's, Black, Pompey Organizations: Service, Economic Mobility Survey, Asahi, Goldman Sachs Foundation, Goldman, Goldman Sachs Investment Locations: Black, America, United States

If you are in a car crash, document the evidence, call your insurance company, and file a police report. Working with your insurance professional will be the best way to handle the aftermath of the car crash. If you find your rates going up after an accident, remember to shop around for affordable car insurance. Be sure to get a copy of the police report, which you will also need to give to your insurance company. Inform your car insurance company that you have been in a car accident and give as many details as possible.

Persons: —, John Fitch, it's Organizations: National, Traffic Safety Administration, Service, Traffic

Here are three tips from my dad that helped me when I first bought my home:1. By not taking care of a necessary window replacement, I was paying a higher electric bill and inconveniencing myself every time I went downstairs wrapped in a blanket. Now you have a higher water bill (and maybe water damage). You will pay a higher electric bill until you get them replaced. My dad said, "There is no reason to buy the cheapest version and be right back here in two years.

Persons: —, overspend, Don't, homeownership Organizations: Service, Invest

Here are three signs you shouldn't be spending so much on your credit card. If you cannot do that, you are spending too much on your credit card. For example, when I owned my home, I chose not to have a credit card. If you find yourself missing payments or having to make payment arrangements with your credit card company, that's a major indicator that it is time to pull back from spending on your credit card. Even though bills and expenses are high right now, credit cards can take you into trouble if not handled properly.

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Gen Z wants to retire at 61 — years before other generations expect to leave the workforce. They're seeking professional financial advice from family and friends — and are even open to AI. Unlike the gloom and doom stories of Gen X, Millennials, and Boomers, Gen Z fully plans to retire … and do it earlier than everyone else, at the age of 61. Schwab surveyed 1,000 employed Americans participating in 401(k) plans in partnership with Logica Research, plus an additional 100 Gen Zers for statistical significance. The survey also found much of Gen Z is already thinking about retirement plans: 73% of Gen Z respondents want personalized investment advice and help choosing investments for their 401(k)s.And they're willing to let AI provide that help.

Persons: Gen Z, They're, —, Gen, …, Charles Schwab, Gen Zers, Schwab, Gen X, Zers, doesn't Organizations: Service, Boomers, Logica Research, Gen

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). How carrying a credit card balance can impact your creditYour credit card balance also affects your credit score. Your credit utilization ratio represents the amount of revolving credit you are using, divided by the total credit available to you. To avoid high credit utilization from negatively impacting your credit, you want to keep your utilization under 30%. Paying your balance off keeps you out of debtPaying your credit card off in full and on time is the best credit card strategy.

Persons: — Organizations: Federal Reserve Bank of New, Service Locations: Federal Reserve Bank of New York

After paying off $50,000 in debt, Berna Anat started saving money seeking financial freedom. She found that a "sinking fund" can help with typical life expenses that don't require cracking open the emergency fund. If you find yourself constantly dipping into your emergency savings for everyday issues, you will soon not have much of an emergency fund left. You can have as many sinking funds as you like, however big or small you need. "No need to dip into your emergency savings or cut any part of your budget.

Persons: Berna Anat, —, Anat, Ally Organizations: Service, That's Locations: New York

☆ Credit card interest rates are rising. Ask yourself 3 questions to decide if your rewards card is still worth it.
▼ + stars: | 2023-10-19 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com time to read: +4 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Much to the chagrin of many consumers, credit card interest rates have also jumped, leaving cardholders carrying a balance paying APRs of 20% or higher. This is also a good time to think about how you handle your credit card balance in general. If you have an annual fee and your credit card interest rate is also increasing, consider whether this annual fee is still worth it. But are they worth it if you're paying a higher interest rate on your credit card balance?

Persons: —, you've, that's Organizations: Federal Reserve, Service

Don't think that because you can't cut your grocery bill or your utility bill is just high this time of year, you cannot save money. Here are five ways to save money in 10 minutes or less:1. Call your monthly bill providersSet aside a few minutes to call your cell phone or internet provider and see if they can reduce your monthly bill. We went through my bill and by the time I was done, my monthly bill was $185. The idea is to make your credit card almost impossible to access — not just to create a credit card popsicle.

Persons: —, It's, it's Organizations: Service

Our experts answer readers' tax questions and write unbiased product reviews (here's how we assess tax products). Think about your taxes before the end of the year so you don't miss the opportunity to save come April. Here are three tax mistakes you don't want to make by the end of the year:1. As a result, you could end up owing additional tax plus interest and penalties. Not missing out on these tax moves can help with a smoother tax experience and may also save you money.

Persons: —, It's, Roth, you'll Organizations: Service, NEC, IRS

The creators say our habits have more of an impact on our finances than the money in our bank account. Successful management of your personal finances is learned behavior, they explain, and is very much based in your financial habits and awareness. Our financial habits are the standards, routines, and practices that we rely on to navigate our day-to-day financial lives. That is the important part, that she takes the steps to change her financial habits," Lucas says. "Building good financial habits takes time," says Sarayi, "and for many of us, it does not happen overnight."

Persons: aren't, —, JoJo, Olayinka Sarayi, Fredia Lucas, Sarayi, Lucas Organizations: Service, City, Spotify Locations: New York City, New York

Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Investing soon and regularly is the best way to participate and receive the benefit of the market. That is the perfect opportunity to invest half of the lump sum, then keep investing a designated amount on a monthly basis. I know this first hand; several years ago, my father invested a lump sum of $10,000 and then couldn't take the ups and downs that come with investing. Investing consistently means that you will be able to participate in the market regardless of market conditions.

Persons: Charles Schwab, —, Schwab Organizations: Service

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