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That's according to a recent Bankrate study, which finds that 36% of American consumers have more credit card debt than emergency savings. "We have seen credit card debt rising really ever since inflation started to exert pressure on household budgets in 2022," McBride says. This year's gap between savings and credit card debt (36%) is the highest in 13 years, up substantially from 22% in 2022, he adds. If you're struggling to choose whether to focus on minimizing credit card debt or begin building up your emergency savings, McBride suggests aiming to balance both. When tackling credit card debt, there are two well-known strategies you can use: the snowball method and the avalanche method.
Persons: Bankrate, Greg McBride, McBride, you've, that's Organizations: CNBC
Marco Ilagan, 42, and Fran Cassaniti, 30, left their jobs at Accenture to travel in 2018. The couple live in other people's homes for free in return for looking after their pets. The couple needed to look after a dog and a cockatiel called Tweetie who would fly free around the house. They also spent four months looking after two relaxed German Shepherds in a beach retreat in Grenada, as the retired owners would go sailing during the winter months. They are currently driving it in Costa Rica, where they will spend the next four months looking after two dogs and ticking off those goals they created.
Persons: Marco Ilagan, Fran Cassaniti, Ilagan, they'd, Instagram, Cassaniti, Tweetie, They've, they've, hasn't Organizations: Accenture, Service, Thrones Locations: Wall, Silicon, Buenos Aires, Argentina, Chicago , Illinois, India, Thailand, Brazil, Krabi, Philippines, Hawaii, Anchorage , Alaska, TrustedHousesitters, Utah, Grenada, Chicago, Florida, Scotland, Inveraray, Italy, Slovenia, Croatia, Greece, England, Ireland, Europe, America, Cozumel , Mexico, Mexico, US, Texas, Belize, Costa Rica
Courtesy of Raphael MenesesMeneses, 32, started freelance copywriting on Fiverr in 2019 to make some extra money alongside his university job. Alexa Nizam brought her personality to her Fiverr profileNizam updated her profile to get customers for her freelance copywriting. Read more: I make up to $13,000 a month copywriting on Fiverr. Here's how I landed clients on Fiverr. Read more: I made 6 figures in a month on Fiverr working with a team of 150 freelance copywriters to meet client demand.
Persons: Rafael Meneses, Meneses, Raphael Meneses Meneses, Alexa Nizam, Nizam, Nizam Nizam, Alexandra Fasulo, she'd, Read, Gaurav Shrishrimal, Shrishrimal, Gaurav Shrishrimal Shrishrimal, Fiverr . Georgia Austin, Georgia Austin Austin, Betty, Austin, copywriters, Billy McIntyre, McIntyre, Billy McIntyre McIntyre, he'd Organizations: Service, Fiverr, Alexa, Austin, Georgia, Nike Locations: Wall, Silicon, Fiverr, Fiverr . Georgia
Instacart shoppers are considering leaving the platform after it cut base pay for filling orders. Last week, Instacart started paying its gig workers as little as $4 in base pay per order, Insider reported on Monday. Base pay is an amount that Instacart shoppers and drivers are guaranteed to make if they accept an order, though they can earn more from customer tips. Daniel Danker, Instacart's chief product officer, told Insider that the company pays "guaranteed batch earnings that are 2x higher than other app-based companies." On a Reddit page for Instacart shoppers, some workers say a traditional job is starting to look more appealing.
Persons: Instacart, Daniel Danker, aren't, InstaCart, they've, That's, Alexia Hudson, I've Organizations: Service, Base, McDonalds, Workers, Instacart Locations: Wall, Silicon, Charlotte , North Carolina
"We believe that many more Gino-authored papers contain fake data," the Data Colada professors wrote. Data Colada found that the raw data showed clear anomalies, such as a distribution infinitely more likely to be produced by a random-number generator than actual people. Soon after, Data Colada ran an article alleging that Gino tampered with data in at least one of her honesty-pledge experiments. A post on Data Colada or a tweet from Brown is like a bomb going off in the behavioral-science world. Others who attempted to build on Gino's studies are grappling with having wasted time, money, and energy.
Persons: It's, Francesca Gino, Gino, Michael Sanders, Greg Burd, , Hugo Boss, Gino coauthoring, Swarthmore College's Bhanot, Maurice Schweitzer, Simine Vazire, Sanders, Goldman Sachs, Schweitzer, they'd, Uri Simonsohn, Joe Simmons, Leif Nelson —, Data Colada, Dan Ariely, Ariely, Chris Goodney, Harvard, Colada, Nick Brown, Brown, Jeff Lees, Lees, There's Ariely, Brian Wansink's, HBS's Amy Cuddy's, Cuddy, Amy Cuddy's, Marie Claire's, Allison Williams, Astrid Stawiarz, Marie Claire Simonsohn, Simmons, Nelson, they're, Gordon Pennycook, Pennycook, it's, Bhanot Organizations: TED, Twitter, LinkedIn, Harvard, Wharton, Swarthmore College, Harvard Business School, Alaska Airlines, King's College London, Tione, University of Trento, Sant'anna, Studies, Carnegie Mellon University, University of North, Wired, Forbes, Google, Swarthmore, University of Melbourne, Disney, Lavin Agency, Data, Duke University, who's, NBC, BuzzFeed News, Bloomberg, Getty, Privately, Higher Education, Hill, Duke, US Department of, Cornell University, New York Times Locations: Trento, Pisa, University of North Carolina, HBS, Guatemala, Boston, New York, British, Guatemalan
These days, his net worth is north of $1 million, and he offers financial advice to would-be early retirees in his newsletter, Millionaire Habits. "There is no way you're going to improve your spending without knowing where your money is going to begin with," he says. They don't want to know how much they're spending," Adcock says. "Sometimes it's like, 'Holy s---, I'm spending $500 a month at Subway.'" One shorthand many early retirees rely on — their "FIRE number" — multiplies the annual income they hope to live on in retirement by 25.
Persons: Steve Adcock doesn't, Adcock, , he'd, you've, It's Organizations: FIRE, ESPN, CNBC
Tim Riegel brought in $169,000 selling 275-pound fire pits in the last 12 months. Six months ago, Tim Riegel bent over his computer, reviewed his monthly earnings statement and saw that his highly lucrative side hustle was making less money. Within six months, freight trucks were delivering his products to Etsy buyers across the U.S. and Canada. I'm constantly looking at my competitors — not just on Etsy, but throughout the U.S. — to see who's making similar types of pits, and their pricing. I'm sure people can replicate it, if they have similar skills — like welding, creativity and the know-how to source the steel.
Persons: Tim Riegel, they've, , Riegel, Mozark, he'd, I'm, I've Organizations: CNBC Locations: Lamar , Missouri, Kansas City, Canada, U.S
The death of hobbies
  + stars: | 2023-07-31 | by ( Eve Upton-Clark | ) www.businessinsider.com   time to read: +12 min
Research has found that hobbies can reduce stress, result in less severe disease outcomes, and even lead to a longer life. Baker believes that the replacement of hobbies with hustles stems from the way work changed when the pandemic sent everyone home. "If you're already on all the time, then why not try to get some money from that hobby," Baker said. But, she added, "One con is that you just don't have hobbies anymore because you've monetized them." And studies show that without hobbies, people are more likely to feel burned out and more stressed.
Persons: Tommy Wylde, Wylde, it's, I've, " Wylde, Wylde —, , Erik Baker, Audrey Tang, Bankrate, Zers, Baker, Millennials, Gen Zers, Gen Xers, Grace Jicha Torres, Torres, Slack, you'll, Tang, he's, Eve Upton, Clark Organizations: eBay, Harvard, Bank of England Locations: Silicon Valley
Instacart has cut its minimum base pay to $4 from $7 per order, angering many who work for the app. The cut affects base pay, or an amount that Instacart workers are guaranteed to get if they accept an order. Instacart announced the lower base pay in a July 20 blog post entitled "creating new ways to earn." In the post, Instacart said orders that involve picking and delivering many items "may pay $10 or more" in base pay. Lower base pay means more reliance on tipsBoth Hudson and the driver in Tennessee said that the base pay cut makes customers' tips a more important source of income.
Persons: Instacart, Daniel Danker, Danker, I've, Alexia Hudson, she's, it's, Sergio Avedian, Guy, That's, Uber Organizations: Service, Instacart, Shoppers Locations: Wall, Silicon, Instacart, Tennessee, Indiana, South Carolina, Charlotte, she's, Los Angeles
Rory Bradshaw, 31, has been teaching yoga classes at a male prison in the UK for the last four years. Here's what its like to be a prison yoga instructor, as told to Insider's Aaron Mok. But on the side, I make money as a prison yoga instructor — and it's been a real privilege. At the center, there were women running free community yoga classes who encouraged me to attend, and I immediately connected with the practice. I have ambitions to one day get yoga into every prison prison cell in the country.
Persons: Rory Bradshaw, Bradshaw, Insider's Aaron Mok, , it's, I'd, I'm, I've, It's Locations: London, South London
Why Are Dave Matthews Band Fans So Loyal?
  + stars: | 2023-07-29 | by ( Perri Ormont Blumberg | ) www.nytimes.com   time to read: +1 min
On an afternoon in June while wildfire smoke enveloped Manhattan, people lined up outside Irving Plaza — some before dawn, some sporting face masks, some fresh off red-eye flights — to see Dave Matthews. That night, the 56-year-old balladeer was playing a rare solo gig celebrating his namesake band’s new album, “Walk Around the Moon.”Josh Roberts, 42, a special-education teacher in Las Vegas, who has seen the Dave Matthews Band, or DMB, 523 times, stood in that line. Mr. Roberts estimates that he has spent $100,000 on tickets and travel since discovering the band as a struggling high school junior in 1995. “This band has songs about love, depression, sex, things that you connect to,” he said. Mr. Matthews is the first to admit he doesn’t always get it right.
Persons: , Dave Matthews, balladeer, ” Josh Roberts, Roberts, , Matthews, doesn’t, , ’ ”, DMB Organizations: Irving, ChatGPT Locations: Manhattan, Las Vegas, TriBeCa, Charlottesville, Va, DMB
Videos on Chinese social media show the frontman of the band Violent Champagne drop his shorts during a gig at the Rock Home Town festival in the city on Saturday. The recent return of live performances after years of pandemic lockdowns has been welcomed by music lovers in China. Videos on Chinese social media showed the singer dropping his shorts. WeiboShijiazhuang, the capital of the Hebei province surrounding Beijing, has been known for its indie music scene, something city officials have been keen to capitalize on. “Shijiazhuang wants to be the City of Rock, but do you have that gene?” said a comment on China’s Twitter-like Weibo following the singer’s detention.
Persons: Hong Kong CNN —, , Ding –, , can’t Organizations: Hong Kong CNN, Twitter, Society, Communist Youth League of Locations: Hong Kong, China, Shijiazhuang, Weibo Shijiazhuang, Hebei, Beijing, of Rock, Weibo, Shijiazhuang ”, Communist Youth League of Hebei
Here are 10 ways AI tools such as ChatGPT have entered the workplace — and what may come out of it. Nick Patrick, the owner of the music-production company Primal Sounds Productions, told Insider he used ChatGPT to fine-tune legal contracts for clients. "You really got to find time to, like, learn this skill," Nigam previously told Insider. Companies are using AI to write their performance reviewsManagers may find writing performance reviews for their employees a tough task. He told Insider: "Any technology that increases productivity, ChatGPT included, makes a shorter workweek more feasible."
Persons: OpenAI, Nick Patrick, Shannon Ahern, hadn't, Jensen Huang, Huang, Akash Nigam, Nigam, Neil Taylor, ChatGPT, Taylor, Insider's Beatrice Nolan, Nolan, would've, Jasmine Cheng, Cheng, WorkLife, Carl Benedikt Frey, Michael Chu, iHeartMedia, Goldman Sachs, Goldman, Suumit Shah, chatbot, Anu Madgavkar, Richard Baldwin, Fran Drescher, Jezebel — Organizations: Morning, IBM, Workers, Primal Sounds Productions, Google, Twitter, Companies, Employers, Nvidia, ChatGPT, Sky News, Hulu, Spotify, Mobile, Oracle, Columbia Business School, McKinsey Global Institute, Apple, JPMorgan, Northrop Grumman, AIs, Writers Guild of America, SAG, Journalists, GMG Union of, Media Locations: Taipei, Taiwan, Oxford
I started my blog, "I'm Sweaty And I Know It," where I wrote about exercise, health, recipes, and mental health. One of my first viral TikTok workouts was called "Not in the mood to workout, try this workout for unmotivated days." I made money through YouTube adsWhen I reached 1,000 subscribers on YouTube, I started making money from AdSense. Launching a paid-for app was dauntingI felt that too many YouTube workouts had clickbait headlines about losing weight. I was terrified that no one would subscribe because they'd been used to my free workout classes.
Persons: Callie Jardine, Jardine, I've, who'd, they'd Organizations: YouTube, Free Locations: Palm Beach , Florida, Barre, Canada, AdSense
Dozens of companies are offering their employees Snoos for free or at reduced costs. The cribs, which cost $1,700, are available for free at companies like JPMorgan and Snap. Some new parents of corporate America are receiving more than just paid parental leave and lactation rooms from their employers. Companies like JPMorgan Chase, Snap, Hulu, and Activision Blizzard are among those offering the devices to employees, according to Happiest Baby. The Snoo benefit is one of many new parental benefits that companies are beginning to offer their employees with babies amid a childcare crisis.
Persons: JPMorgan Chase, Milt Ezzard, Ezzard, WorkLife Organizations: JPMorgan, Companies, Activision Blizzard, Employers, JPMorgan Chase, Hulu, Paypal, Snoos, Street Journal, Financial Times
And the vast majority are not, in fact, shaping our lives and career goals around a TikTok trend. Some of us want to work to live, not live to work. Some of us are deeply ambitious at certain points in our lives, and then more focused on life outside of work at others. A lot of jobs aren’t particularly interesting, fun or meaningful. A lot of men do work jobs with fewer hours and less pay, or don’t work at all, but there’s no TikTok trend about it.
Persons: Jill Filipovic, ” Jill Filipovic, Jill Filipovic It’s, It’s, We’ve, Covid, don’t, Organizations: Twitter, CNN, Wall Street Journal, Bureau of Labor Statistics, Pew Research, Fortune, Facebook Locations: New York
Walk into Cesar Villavicencio's three-bedroom apartment in Washington Heights, New York City, and you might think he had two roommates. Villavicencio graduated in 2009, and, like many aspiring Broadway stars, packed his bags for New York City. But in drag, Villavicencio found empowerment that had eluded him. Zachary Green and Lauren Shamo | CNBC Make ItWhen it comes to getting in drag, Villavicencio's costs, just like his income, can be variable. In addition to five weekly shows, Villavicencio performs as Pixie at a residency in Fire Island and at corporate engagements.
Persons: Cesar Villavicencio's, Pixie Aventura, Villavicencio, I'm, Cesar Villavicencio, Zachary Green, Lauren Shamo, John Leguizamo, Vegas Dion, Payless, Cesar Villavicencio Villavicencio, Aventura, let's, I've, he's, Elham, Max, isn't, It's, She's, Pixie Organizations: CNBC, Miami, YouTube, Otterbein University, Salvation Army, Broadway, West, Cornell Medicine, Nursing, New, Fire, Apple, Max Locations: Washington Heights , New York City, Villavicencio, New York, Fire, South Florida, Westerville , Ohio, Columbus, New York City, Aventura, Villavicencio's New York, homebuying
What’s happening: Two years ago, Lina Khan, 34, became the youngest and perhaps most progressive leader of the FTC’s 100-plus year history. Khan, meanwhile, was unable to successfully block Microsoft from closing its $69 billion purchase of videogame publisher Activision Blizzard last week. The rise of gig workers is changing the face of the US economyFrom CNN’s Samantha DelouyaLazarus Limo usually starts his day at 10 a.m. But workplace experts say the number of gig workers is growing, and and their impact is being felt throughout the economy. But whether the success of both films will translate into a sustained revival of the movie industry remains to be seen.
Persons: New York CNN —, Biden, Lina Khan, haven’t, Khan, Kevin Kiley, Joe Biden, , Brian Fung, ” Khan, , ” What’s, She’s, Samantha Delouya Lazarus, , that’s, Louis Hyman, ” Read, “ Barbie ”, “ Oppenheimer, Anna Cooban, “ Barbie, Barbie ”, ” Daniel Loria, Disney’s “ Indiana Jones Organizations: CNN Business, Bell, New York CNN, Apple, Microsoft, Nvidia, of America, Big Tech, Federal Trade Commission, FTC, White, Activision Blizzard, Republican, Economic, of New, Yale Law, Amazon, Bloomberg, Tech, Meta, Uber, CNN, DoorDash, of Labor Statistics, Cornell University, “ Society, Insiders, Warner Bros, Universal Studios, Warner Bros ., AMC, Hollywood Locations: New York, California, of New York, Hill , North Carolina, , United States, Instacart, Disney’s
The number of gig workers is growing and making an impact throughout the economy. But workplace experts say the number of gig workers is growing, and and their impact is being felt throughout the economy. “People who have access to the gig economy borrow less money than people who don’t. Working in the gig economy can help people spend more time searching for their next job, if they've been laid off. “We could do so much better.”Recently, local governments have attempted to bolster platform gig workers’ protections.
Persons: Los Angeles CNN — Lazarus, , that’s, Eric Baradat, Louis Hyman, Uber, DoorDash, Jenn Rosenberg, Hyman, , Erica Groshen, they've, Spencer Platt, Doordash, Susan Houseman, Groshen, we’ve, ” Groshen, they’re Organizations: Los Angeles CNN, Uber, CNN, DoorDash, Getty, of Labor Statistics, Cornell University, “ Society, University of Chicago, IRS, Bureau of Labor Statistics, Massachusetts Institute of Technology, BLS, . Upjohn Institute, Employment Research, North, New York City, Federal Reserve, Federal, System Locations: Hill , North Carolina, , United States, AFP, DoorDash, Kalamazoo , Michigan, North America, New York, California
Derrick Morgan Jr. turned his freelance work while working at a law firm into a full-time gig. Morgan lands freelance work through the freelance-site Fiverr, where his starting price for different trademark services vary. Additionally, he has his own full-service law firm, but didn't disclose how much money he makes from this to Insider. He actually got started in trademark-attorney work during the pandemic while working for a law firm. "I would take three international trips a year just because I had the flexibility with my law firm," he said.
Persons: Derrick Morgan Jr, he's, Morgan, I've, , Fiverr, Selina Organizations: Service, Locations: Wall, Silicon, Europe, Hungary, Croatia, Monaco, Italy, Iceland, Mexico City, Chicago, Asia, Fiverr
They have three investment accounts for their 2-year-old daughter, including a 529 plan. Insider reviewed screenshots of their investment accounts that showed these details. Brennan walked Insider through the investment accounts they've already opened for their kids. With a custodial Roth IRA, a "custodian" (usually a parent or grandparent) controls the Roth until the child reaches legal adulthood. While there are no age requirements to open a Roth IRA for a child, the child must have earned income.
Persons: Brennan, Erin Schlagbaum, Erin, Rowe Price, that's, Roth, she'll Organizations: Google, YouTube, IRS, Fidelity, Vanguard, IRA
CNN —Like Lana Del Rey’s apparent new gig moonlighting as a waitress at an Alabama Waffle House, late night icon David Letterman, too, landed a new job… sort of. Letterman is seen in the video perusing the aisles of the Hy-Vee, bagging groceries, eating uncooked minestrone soup and telling customers on the loudspeaker that “today and today only,” celery was free. Letterman was reportedly in Des Moines over the weekend to attend the Hy-Vee IndyCar Race, where Christian Lundgaard was driving the No. Last week, videos showing the singer donning a Waffle House uniform while serving customers from behind the counter began to circulate on social media. Letterman and Del Rey aren’t the only famous faces to surprise patrons as unsuspecting staff members in recent months.
Persons: Lana Del Rey’s, David Letterman, he’s, , , Letterman, Christian Lundgaard, Rahal Letterman Lanigan, Del Rey, Ben Affleck, Dunkin, Ariana Maddix Organizations: CNN, Alabama Waffle House, Hy, Vee Locations: Iowa, Indianapolis, Des Moines, Alabama, California
The 27-year-old picked up his first side gig his freshman year of college when he founded a disc golf manufacturing company. "Also did some tutoring, podcast editing, video editing, running affiliate marketing campaigns." He says he made between $1,500 and $1,800 per month on his various hustles. Having tried so many hustles, Berman's gleaned a few insights about which might be easiest to pick up. For him, the easiest hustles to dive into were those in content creation, like podcast editing and video editing.
Persons: Cody Berman, hustles, Berman juggles, Berman, he'd, There's
64-year-old Uber driver Wesley Johnson started driving a rented Tesla four months ago. Johnson also offered tips for Uber drivers looking to make the electric-vehicle switch. To compare, Johnson said the Tesla rental from Hertz costs him roughly $50 per week, or $200 a month, to charge. Wesley Johnson, 64, says he's saved roughly $1,400 per month on gas since switching to an electric vehicle. What Uber drivers should know before making the EV switchJohnson has a few tips for any Uber drivers who are considering renting or buying an EV.
Persons: Wesley Johnson, Johnson, San Francisco Uber, Uber, He's, who's, Hertz, Tesla, he's, I'm, Organizations: Service, Hertz, EVgo, EV Locations: Wall, Silicon, San Francisco
I focused on a client nicheI started working as a virtual assistant in January 2021. I connected with clients organically on InstagramI put all my time and effort into making my Instagram profile engaging. I'd find clients I wanted to work with and comment on their posts and respond to their Instagram stories. I'd have about five or six clients on the go at a time, and I'd work for each one every day. With each client, I'd explain on the call that I had a minimum length of four months for each contract.
Persons: Shannon Blanchard, Blanchard, , What's, I'd, Jessica Hawks, creatives, they'd, I've Locations: Minneapolis, TikTok
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