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☆ Millennials and Gen X Are Figuring Out What to Do With Boomers' Stuff
▼ + stars: | 2024-10-07 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

AdvertisementIn short, boomers love stuff, and not just their stuff. They held on to their parents' stuff when they inherited it, and a lot of them are sitting with their kids' stuff in their attics now, too. The market value of the object and the sentimental value don't always go hand in hand. "I often emphasize the idea that the market value of the object and the sentimental value don't always go hand in hand," he said. Remember, it takes a lot of stuff to live a full life — and it's hard to let go of it.

Persons: Dale Sperling's, Sperling, it's, they're, It's, they've, Gen Xers, Gen Zers, Sarah Hersh, Ben Hersh, — you'll, Mary Kay Buysse, They're, Hummel, Mindy Godding, you've, Godding, Elizabeth Hirsh, Wen Stone, Janelle, Ben Miller, they'll, Miller, Stephanie Preston, Buysse, we've, —, Janelle Stone, I've, that's, she's, doesn't, downsizers, Cameron Huddleston, Let's, Emily Stewart Organizations: Facebook, National Association of Senior, Boomers, University of Michigan, eBay, Business Locations: New York City, New Jersey, North Carolina, Dallas, downsizers, New York

Economists are sounding the alarm bells about a likely recession in 2023.Insider spoke to five personal finance experts to get their tips on preparing for a downturn. Insider spoke to five personal finance experts to uncover the key steps to help you bulletproof your finances ahead of a rocky new year. "Drop-shipping" — acting as an intermediary between a supplier and customers – affiliate marketing, and earning advertising income from websites are some ways you can build passive income streams. Olamide Majekodunmi, founder of All Things Money, a financial education blog for millennials, said it's important not to sink too many up-front costs into passive income streams in the hope they'll bear fruit. And Chen said it still takes lots of work to get to a point where you can enjoy passive income.

With Americans predicted to spend nearly $1,000 each on gifts, Christmas is coming at a bad time. A Gallup poll published in October suggested US households will spend an average of $932 on gifts alone. Add to that increased travel and socializing, and you could be putting yourself in financial peril at the worst possible time. Push gift-giving back a few daysIf you want to carry on gifting, but aren't committed to tradition, you could try gifting in January. Huddleston suggested getting each guest to bring a dish or bottle to share costs.

☆ Build up an emergency fund ahead of a likely recession in 2023, personal finance experts say. Here's how much you should save, and how to get there.
▼ + stars: | 2022-10-29 | by ( Ryan Hogg | Junior Weekend Business Reporter | Read More | ) www.businessinsider.com time to read: +7 min

Personal finance experts urge building an emergency fund ahead of a likely recession in 2023. The key to bulletproofing your finances is having an emergency fund. What is an emergency fund? How big should my emergency fund be? The experts interviewed by Insider agreed that an emergency fund should cover between three and six months' worth of expenses — a consensus supported by Well Fargo.

Economists are sounding the alarm bells about a likely recession in 2023.Insider spoke to five personal finance experts to get their tips on preparing for a downturn. Insider spoke to five personal finance experts to uncover the key steps to help you bulletproof your finances ahead of a rocky 2023. Build an emergency fundThe experts advised building up an emergency fund to cover your expenses if you lose your job. If you have the time, finding additional employment is the quickest way to bring in extra income, the experts said. UpskillThe negative effects of a recession, like falling income and higher unemployment, may not become evident until some months into the downturn.

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