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Michela Allocca - 3 Allocca - 3 Derek Guy - 1 it's - 1 — - 1 they're - 1 Michela - 1 She's - 1
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Search resuls for: "Michela Allocca"


4 mentions found


☆ The No. 1 factor to consider when investing in new clothes—anything else is a 'waste of money'
  + stars: | 2024-07-20 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com   time to read: +2 min
The idea is to have a streamlined closet with a limited number of basic clothing items you can mix and match. She says neglecting her personal style was one of the biggest mistakes she made while filling out her capsule wardrobe. "If you buy a piece of clothing that you don't wear often, that's a waste of money," she says. But regardless how much you spend, if it's not something you are going to wear, it's going to be a waste of money. Here are three tips to help you figure out your personal style and stop overspending on clothes.
Persons: Michela Allocca, Derek Guy, it's Organizations: of Labor Statistics, CNBC
☆ 28-year-old with net worth over $500,000: 5 money mistakes to avoid in that 'weird time after college'
  + stars: | 2024-05-01 | by ( Mike Winters | ) www.cnbc.com   time to read: +4 min
Not using a high-yield savings accountHigh-yield savings accounts are a no-brainer for Allocca, who says that there's "no advantage to a traditional savings account." High-yield savings accounts are typically offered by online banks or credit unions, and usually come with higher interest rates than traditional savings accounts offered by big banks. Currently, you can find high-yield savings rates over 5%, compared with the 0.58% average for savings accounts as a whole. One trade-off is that smaller banks or credit unions might take longer to process a withdrawal from a high-yield savings account. "I like to call high-yield savings accounts 'inconvenient savings,' because they are still accessible, but totally separate and disconnected from your checking account," she says.
Persons: Michela Allocca, —, Allocca Organizations: CNBC
☆ 28-year-old with a net worth over $500,000 shares 5 signs you're better with money than you think
  + stars: | 2024-02-25 | by ( Mike Winters | ) www.cnbc.com   time to read: +4 min
But a lot of people who feel helpless are probably doing better than they think they are, says the 28-year-old former financial analyst, who has a personal net worth of more than $500,000. To help people feel "less hopeless," the author of "Break Your Budget" recently shared several signs you're doing better financially than you think you are on TikTok. Here are five signs that you're on track with your personal finances, according to Allocca. Allocca suggests putting the money in a high-yield savings account to maximize the interest you earn on those funds. This includes high earners who still live paycheck to paycheck because they aren't tracking their expenses.
Persons: Michela Allocca, Allocca, they're Organizations: CNBC, Financial Locations: Allocca, U.S
☆ 28-year-old with a net worth over $500,000 shares 5 money habits she avoids: 'Everything can't be a little treat'
  + stars: | 2024-01-27 | by ( Mike Winters | ) www.cnbc.com   time to read: +4 min
Using traditional savings accountsAllocca favors high-yield savings accounts over the traditional savings accounts typically offered by large banks, as they offer better annual interest rates. Currently, you can find high-yield savings accounts offering APRs of around 5%, while traditional accounts offer interest rates closer to 0.6%, per Bankrate's most recent data. Many online banks and credit unions offer high-yield savings accounts, so they're not hard tp come by. "All of my cash savings are in a high-yield savings account," says Allocca. "If you aren't using a high-yield savings account, make 2024 the year you open one.
Persons: Michela, She's, Allocca, They're, they've Organizations: CNBC
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