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☆ Cher came back from owing $270,000 in back taxes, only to wind up broke again. 6 points about money from her new memoir.
▼ + stars: | 2024-11-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementCher came back from owing $270,000 in back taxes only to wind up broke again years later. We owe the IRS $270,000 in back taxes and we don't have the money," Bono said to Cher in the late 1960s, in her telling. Cher's divorce from Sonny Bono was finalized in 1975. Cher writes in her memoir that "the contracts he'd had me sign were secretly designed to strip me of my income and the rights to my own career." Advertisement"Mom's store attracted a lot of press attention, but it was never solvent and soon began to lose money," Cher writes.

Persons: Cher, overspent, Sonny Bono, I'd, We're, Bono, Getty Images Cher, she'd, you've, Ed Sullivan, who'd, David Geffen, Barry King, Geffen, Sonny, he'd, overextending, John Marshall Organizations: CBS, Getty Images, Geffen Locations: Los Angeles, Brentwood , California

☆ Even U.S. presidents make mistakes with their money, author says. Here's how some struggled
▼ + stars: | 2024-11-14 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

Megan Gorman, author of All The Presidents' Money. MG: Money caused and causes anxiety for everyone. For instance, Ronald Reagan used budgeting as a mechanism to manage emotion when it came to money. As Reagan got older, he found that having a budget and sticking to it allowed him to manage his financial anxiety. Early experiences informed money habitsAN: Who had the most financial struggles before becoming president?

Persons: Thomas Jefferson, George Peter Alexander Healy, Megan Gorman Annie Nova, Megan Gorman, Richard Nixon, Grover Cleveland, Calvin Coolidge, John F, Kennedy, spender, Jefferson, Marc Cartwright, Ronald Reagan, Reagan, Harry Truman, Truman, Herbert Hoover, Hoover Organizations: Hulton, White, Stanford Locations: France

☆ Amazon's ex-retail boss Dave Clark launches new startup to solve supply chain 'Franken-software'
▼ + stars: | 2024-10-08 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Dave Clark, Amazon 's former CEO of global consumer, who briefly helmed logistics company Flexport, is returning to the startup world. Prior to Flexport, Clark developed a storied reputation during his 23 years at Amazon as the architect of its mammoth logistics network. In 2020, Amazon tapped Clark to head its core retail business after longtime executive Jeff Wilke left the company. Clark joined Flexport to bring what he had built at Amazon to "small businesses and other businesses around the world." He left the startup feeling there was still a gap in the market for supply chain tools, and began to develop the idea behind Auger.

Persons: Dave Clark, Clark, Franken, Ryan Petersen, Petersen, Clark overspent, Flexport, Jeff Wilke, Auger Organizations: Excel, CNBC, Amazon, Amazon's, Flexport

☆ 'Joker 2' stumbles at box office with lackluster $40 million debut
▼ + stars: | 2024-10-07 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Variety-Live-Blog-Byline-Image.Png | ) www.nbcnews.com time to read: +6 min

“Joker: Folie à Deux,” a genre-bending sequel to the billion-dollar comic book smash, hit a sour note at the box office even as it opened to No. That’s a problem because the R-rated sequel carries a substantial $200 million price tag (the first film was produced for a trim $65 million). So, “Folie à Deux” needs to generate at least $450 million to break even, according to sources familiar with the film’s financials. Muted buzz for “Folie à Deux” began at Venice Film Festival, where “Joker” took home the fest’s top prize in 2019. Joaquin Phoenix and Lady Gaga attend the Los Angeles premiere of "Joker: Folie a Deux" on Sept. 30.

Persons: ”, “, Jeff Bock, Warners, tentpole, haven’t, Joker ”, Joaquin Phoenix, Lady Gaga, Matt Winkelmeyer, WireImage Todd Phillips, Arthur Fleck, Harleen “ Lee ” Quinzel, Gaga, Martin Scorsese, ” “ Todd Phillips, Bock, Lionsgate’s, Jacob Tremblay, Julian, Bryce Gheisar, Sony’s, Pharrell Williams Organizations: Warner Bros, Phoenix, Bron Creative, Warners, Venice Film, Los Angeles, Lionsgate, DreamWorks Locations: Danish

☆ A millennial couple details how they went from $150,000 in debt to a net worth of $1.5 million in a decade without elite jobs or risky investments
▼ + stars: | 2024-09-30 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Lawrence Delva-Gonzalez and his wife went from being $150,000 in debt to having a net worth of $1.5 million. AdvertisementLawrence Delva-Gonzalez, 41, was $150,000 in debt in 2012, working a job that paid $27,000 a year. A little over a decade later, he and his wife grew their net worth to over $1.5 million. By 2017, the two of them could pay down debt to the point of having a net worth of zero. Their net worth grew to over $450,000 in January 2021, over $650,000 in January 2022, over $800,000 in January 2023, and $1.53 million in August 2024, according to his blog The Neighborhood Finance Guy.

Persons: Lawrence Delva, Gonzalez, —, maxed, Delva, Doreen, Finance Guy, hasn't Organizations: Service, FIRE, Florida State University, Marine Corps, Public, Finance Locations: Haiti, Delva, Port, Miami, Black

☆ How I'm approaching the stock market after its wild reversal to start September
▼ + stars: | 2024-09-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

The week before, Broadcom had allegedly disappointed, causing Nvidia , the inevitable key to this market, to continue its descent. Which brings me back to the initial concept of the big declining week followed by the big advancing week. A good week for Kamala Harris turns out to be a big week for Nextracker — and that's really it for now. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Larry Ellison, Ellison, Cerner, Ellison's, Eaton, Jensen, Bing, Microsoft's Bing, underinvesting, Huang, Blackwell, Dupont, Kamala Harris, Nextracker, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nasdaq, Federal, Broadcom, Nvidia, Oracle, Marvell, Meta, Microsoft, Google, mightily, Street, Fed, Dreamforce, downer, Adobe, JPMorgan, Healthcare, pharma, Jim Cramer's Charitable, CNBC Locations: Silicon Valley, San Francisco

☆ UK riots: Rotherham residents despair after riot at hotel housing asylum seekers
▼ + stars: | 2024-08-06 | by ( Christian Edwards | ) edition.cnn.com time to read: +12 min

Ninzr said he had lived in the Rotherham hotel since he arrived, but was at another processing center when the riot broke out. Several passers-by referenced unfounded rumors that hotel residents have abused local women. CNN asked South Yorkshire police if they have received complaints about the behavior of the hotel residents, but have not yet received a response. With more demonstrations planned for this week, do the residents near the Rotherham hotel fear more violence? “After seeing our community come out today, no,” said the man who lived through the London riots.

Persons: “, ”, –, Keir Starmer, Starmer, ’, Conservative government’s, Ninzr, Danny Lawson, I’ve, Rachel Reeves, They’ve, they’ve, They’d, they’re, she’d, “ I’ve, Elliott Nuttall, ‘, you’re, CNN Ibrar, Javid, Henry Nicholls Organizations: Rotherham, England CNN, CNN, Reuters, AFP, Conservative, South, South Yorkshire police, Facebook, Stringer, National, Mosque, Downing, Southport, Police, Labour, PA Media Locations: England, Rotherham, British, London, Southport, Afghanistan, Herod, France, Rwanda, Birmingham, Rotherham , South Yorkshire, South Yorkshire, Sheffield

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Paris is one of the cheapest OlympicsWhile the Olympics are arguably the biggest event in global sports, they come with a hefty price tag. Since 1960, every host city for the Games overspent their budget by building new venues like Olympic villages and public infrastructure. In contrast, the 2024 Paris Summer Games are set to become one of the cheapest in modern history. The total budget for the 2024 Olympics is an estimated $9.7 billion, with 95 percent of the necessary venues already built.

Organizations: Games Locations: Paris

I was slow to diversify my income and seek out new opportunities for passive income. At first, I didn't take the time to brainstorm or research ways to bring more passive income streams into my business. When starting a new business, especially as a solopreneur, build passive income streams into your plans. Paying business expenses with my personal fundsWhile I do keep a close eye on my personal finances, that hasn't been the case with my business finances. In the past, I wouldn't have seen that charge for months, because I wasn't closely looking at my business expenses.

Persons: —, hasn't, I've, It's Organizations: Service

☆ How my family of 4 overhauled our lazy budget to save over $450 a month. Offering our teenagers a share in the savings was key.
▼ + stars: | 2024-04-20 | by ( Cork Gaines | ) www.businessinsider.com time to read: +2 min

Over the last two years, our family has overhauled our budget to combat inflation. Here are eight ways my family got our money situation under control. AdvertisementWith inflation still hitting bank accounts hard, our family of four — which includes two teenagers — realized it was time to start taking our household budget more seriously. Over the last two years, our family has overhauled our budget, created important financial habits, and even involved our daughters. Here are some ways we got our money situation under control.

Persons: — Organizations: Service

☆ Meta suffered another costly glitch that caused advertisers to overspend — and some say the problem is getting worse
▼ + stars: | 2024-02-23 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

The ad buyers said they did not know what caused Meta's glitch. And there's no guarantee ad buyers will ever get the full amount they've lost. Advertisers continue to battle Meta glitchesThe overspending glitch is the latest in many issues advertisers have had with Meta's ad tools breaking. He estimated that he spends five to 10 hours a month per client working on Meta glitches. "If I look at where we spend most of our money across four platforms — which is Google, Microsoft, Amazon, and Meta — Meta would be the one who's the most dysfunctional," he said.

Persons: —, Tom Brown, CPMs, Brown, Andrew Faris, Milo McMahon, Faris, I'm, Duane Brown, McMahon, AJF Growth's Faris Organizations: Service, Business, Meta, BRND Labs, Outdoor, Google, Microsoft

☆ Connecticut says it will become first state to cancel medical debt for many residents
▼ + stars: | 2024-02-02 | by ( Tami Luhby | ) edition.cnn.com time to read: +4 min

CNN —Connecticut will cancel roughly $650 million in medical debt for an estimated 250,000 residents this year, Gov. More than 1 in 10 Connecticut residents have medical debt in collections. New Jersey included $10 million in its most recent budget to fund a pilot program to cancel residents’ medical debt, and Gov. Medical debt is now the largest source of debt in collections, totaling more than credit cards, utilities and auto loans combined, according to the White House. And the Consumer Financial Protection Bureau and the Biden administration are also considering ways to minimize the burden of medical debt.

Persons: Ned Lamont, Lamont, ” Lamont, “ It’s, Phil Murphy, ” Murphy, Jessica Hill, Allison Sesso, Biden Organizations: CNN, Gov, Connecticut Gov, New, New York City, Black, Third, Financial Protection Bureau Locations: Connecticut, Covid, New Jersey, New York

☆ A real-estate investor who cash flowed $1,000 on her first rental and profited $68,000 on her first flip explains how to spend your renovation money effectively — and where to cut back
▼ + stars: | 2024-01-20 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Nyasia Casey has learned the hard way where to spend money during a home renovation — and where to save. Renovating a rental property versus a flipHow to most effectively spend your renovation money depends on the type of property you're working with. Her agent and hard money lender thought otherwise. Courtesy of Nyasia Casey"My agent said, 'maybe 215,' and my hard money lender said, '200,'" recalled Casey. "But it was the cash offer with closing in 13 days, no inspection," she said, adding: "My hard money lender was blown away."

Persons: Nyasia Casey, —, she's, Casey, Casey Casey, She's, it's, Casey's Organizations: Business, Yorker, Housing Authority, Depot Locations: Baltimore, Baltimore City, New York

☆ Nyasia Casey's first investment property was a cash-flowing 'slam dunk' in Baltimore. She explains how she landed it, and how she's setting herself up to retire early.
▼ + stars: | 2024-01-18 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

Ultimately, that attribute led the 44-year-old to a career she never imagined: a real-estate agent and investor. Until she started her first job as a paralegal at one of the biggest law firms in New York City, that is. Becoming a real-estate agent satisfied both of those criteria. Casey started bringing in $2,350 a month, which the government covered for her tenant. "To get $1,100 right now in gross cash flow on your first deal in a low market is really, really good, especially in Baltimore where the average is $300."

Persons: Nyasia Casey, Casey, Casey didn't, I've, that's, doesn't, Casey Casey, Charles Blair, she'd, Blair, it's, It's Organizations: Business, SUNY Albany, Amazon FBA, YouTube, Housing Authority Locations: New York City, Florida, New York, Baltimore, Maryland's, Baltimore City

What is loud budgeting? The idea with loud budgeting is to simply empower more people to be comfortable with speaking up about the financial goals that are most top of mind right now. Compare offers to find the best savings accountDoes loud budgeting work? Regardless, loud budgeting can help you mentally reframe a missed opportunity into a positive action you're taking to meet a long-term goal. Meet our expertsAt CNBC Select, we work with experts who have specialized knowledge and authority based on relevant training and/or experience.

Persons: begrudgingly, Elizabeth Schwab, Schwab Organizations: CNBC, Behavioral Economics, The Chicago School, Google, Android, CNBC Select's, Facebook, Twitter

☆ Shopping feels like an addiction around the holidays for a reason. Experts explain why
▼ + stars: | 2023-11-24 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +7 min

Between the decorations, feasts and gift-giving, the winter holidays give us plenty of reasons to spend money, which human brains find rewarding. Why our brains like shoppingIt’s no surprise that shopping feels good — it feeds our brains’ rewards systems. On top of that, many people are paid lots of money to make shopping feel even more rewarding, Duhaime said. Internet shoppingThe sacrifices needed to buy holiday gifts and goods drastically decrease when you go online, Duhaime said. Less shopping, more holiday cheerAs much as we want to give our families the best holidays ever every year, more shopping doesn’t always bring us closer to that goal, Duhaime said.

Persons: you’ll, ”, Ashish Bhatt, Bhatt, “, Ann, Christine Duhaime, Duhaime, Alexandra Cromer, Cromer Organizations: CNN, Addiction Center, Disorders, Harvard Medical School, Massachusetts General Hospital, Mental Health Services, “ Retailers Locations: Massachusetts, Boston, Richmond , Virginia

☆ Cami Téllez's underwear startup Parade went bust, and employees blame her. Is it OK to write about it?
▼ + stars: | 2023-11-21 | by ( Melkorka Licea | ) www.businessinsider.com time to read: +28 min

Owning Gucci loafers "wouldn't make me any less capable of leading my team," Téllez rightfully pointed out. Most startups attract people who know this and are excited by it, and Parade employees were no different. "Like any for-profit company, Parade sought to make money and deliver value for shareholders," she told Business Insider. Téllez told staffers DeFuria was sick, and some were worried enough to send flowers to his home. Téllez told employees that they should be receiving offers for positions at AAI "within the next 72 hours at the latest."

Persons: Camila Téllez, I'd, —, Steph Korey, Audrey Gelman, they'd, Steve Jobs, I've, Emily Weiss, Marc Andreessen, Téllez, Gen Zers, Calvin Klein, Cami, Cami Téllez's, she'd, Gucci loafers, Slack, Rhonda Moret, there's, Jack DeFuria, Shakira, Warby Parker's, Neil Blumenthal, Peyton Dix, Jeffries, Evan Mock, Kamala Harris, Ella Emhoff, Gen, Karli Kloss, Omar, who'd, Ty Haney —, — Téllez, Kerry Steib, Meredith Gillies, we've, Steib, I'm, Lyndsey Arnold, Arnold, Lailee, Taghdisi, DeFuria, Kristen Dolzynski, Dolzynski, commenter, weren't Organizations: Ariela, Associates International, AAI, CNBC, Columbia University, NYU, Parade, West Dakota, Forbes, longtime, American, Karli, Voices, Spotify, North America, Employees, Casper, Casa de, Former Locations: New York, Instagram, New, Téllez, York, Colombia, North, SoHo, Dominican Republic

Jim White retired with a net worth of over $1 million at age 43. He also realized that buying new cars and spending too much on food hurt his saving plan. Jim White retired at age 43 in 2018 with a net worth of over $1 million. Buying more house than you can afford can make it hard to save, invest, and meet other financial goals. He bought new carsWhite says that one of his big mistakes was buying brand-new cars when he was saving for FIRE.

Persons: Jim White, —, didn't, White, Lisa, it's, we'd, Robinhood, that's Organizations: Service, Walmart Locations: Cleveland, Panama

After college, Sheffield worked for Amoco Corp and later joined his father-in-law's oil company and became CEO five years later. That company would become Pioneer Natural Resources. On his return, he made Permian oil its sole focus: putting natural gas processing, oilfield services and South Texas shale assets on the block. He also embraced an emerging philosophy that emphasized shareholder returns over rapid production gains, rejecting a plan to more than quadruple Pioneer's oil production by 2026. Two of Sheffield's most significant insights were the major role technology would play in reshaping U.S. oil production and the recognition that big oil companies would eventually control the Permian, he said.

Persons: Scott Sheffield, Eduardo Munoz, Texas oilman Scott Sheffield, Dan Pickering, Sheffield's, Bryan Sheffield, Scott, Boone, Daniel Yergin, Sheffield, Darren Woods, he's, Doug Sheridan, He's, Bruce Vincent, Bryan, Arathy Somasekhar, Gary McWilliams, Marguerita Choy Organizations: Natural Resources Company, REUTERS, Rights, Natural Resources, Sheffield, Exxon Mobil, Pickering Energy Partners, SCHOOL Oil, Atlantic Richfield Co, Tehran school's American, Formentera Partners, Amoco Corp, Energy, Exxon, DoublePoint Energy, EnergyPoint Research, Swift Energy, Thomson Locations: New York, Texas, U.S, TEHRAN, Atlantic Richfield, Iran, Tehran, West Texas, Boone Pickens, South Texas, Sheffield, Houston

☆ Flexport is laying off 20% of its workforce
▼ + stars: | 2023-10-12 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Supply chain software startup Flexport plans to cut approximately 20% of its global workforce as part of a new round of layoffs that's expected to begin on Friday, CNBC has learned. Flexport CEO Ryan Petersen sent a note to staffers Thursday afternoon informing them of the job cuts, according to a copy of the memo viewed by CNBC. The company will inform employees of whether they're impacted or not via email beginning Friday morning, Petersen wrote. A Flexport spokesperson pointed CNBC to a company blog post from Petersen confirming the layoffs. Petersen claimed repeatedly that Clark, a 23-year veteran of Amazon , overspent and overhired during his tenure at Flexport.

Persons: Ryan Petersen, Petersen, Dave Clark, Clark, Flexport Organizations: Milken Institute Global Conference, CNBC, Amazon Locations: Beverly Hills , California, U.S, Flexport, Canada, Asia

"I'm very, very lucky because I wouldn't have had the courage to go and do that acquisition, but I give all the credit in the world to Dave Clark," Petersen said. "There's a perfect complement of skill sets," Petersen told Forbes in June 2022. Petersen told Clark he should engage with Shopify's team, according to a person with direct knowledge of the negotiations. Clark, Petersen and Wagers met in Texas in mid-August to fine-tune the forecasts. Flexport told CNBC that an employee's politics are not relevant in personnel decisions.

Persons: Dave Clark, Ryan Petersen, he'd, Petersen, Clark, excoriated Clark, we've, Clark wasn't, Jeff Bezos, It's, Flexport, Clark overspent, Flexport's, He'd, Sanne Manders, Dave, Shopify, Tobias Lutke, Lutke, Shopify's, glanced, didn't, Fund's Trae Stephens, Michael Ronen, SoftBank, Andreessen Horowitz, Bob Swan, Samyukta Lakshmi, Kenny, Stuart Leung, pare, Leung, —, Lindsey Wasson, Clark's, Stephens, Peter Thiel, Trump's, Petersen's, Sen, Joe Manchin, Chris Ferro, Ferro, Parisa Sadrzadeh, couldn't, Amazon, Sadrzadeh, Burak Yolga, Yolga, Nelly Organizations: North, Amazon, Twitter, CNBC, UPS, FedEx, Milken Institute Global Conference, Bloomberg, Getty, Forbes, Deliverr, Shopify's, Anduril Industries, Intel, Intel Corp, U.S ., Clark, Republican, Founders Fund, Democratic, Street Journal, Flexport Locations: Phoenix, Silicon, Clark, Beverly Hills , California, U.S, Flexport, Deliverr, Miami, Flexport's Bellevue , Washington, Bengaluru, India, Flexport's, Asia, U.S . West Coast, Texas, Ohio, Arizona, Thiel's, West Virginia, Seattle, integrations

The husband-and-wife duo started with an ice cream push cart before opening their first Ample Hills shop in Brooklyn, New York, in 2011. At its height, Ample Hills was valued at $40 million, with 13 scoop shops and an online store that shipped ice cream nationwide. But a year later, they opened a new Brooklyn ice cream shop called The Social. Here's how Smith and Cuscuna built a $40 million ice cream company, slowly lost it all and quickly started rebuilding again. 'The real impetus was just that joy'Opening an ice cream shop was risky.

Persons: Brian Smith, Jackie Cuscuna, Smith, Cuscuna, Zachary Green, Brian, Steven Spielberg, Oprah Winfrey, Bob Iger, —, They've, Lisa Teach Organizations: Schmitt Industries, CNBC, Syfy, Disney, Walt Disney Locations: Brooklyn , New York, Brooklyn, Orlando , Florida, New York, California, Florida

For Love & Money is a biweekly column from Insider answering your relationship and money questions. This week, a reader's partner wants to put them on an allowance so they can pay off student loans. Write to For Love & Money using this Google form. I've dialed back now, but my partner wants me to stick to a tiny allowance so we can make larger student loan payments. This may be difficult for your partner because it sounds like they have a lot of anxiety about your student loans.

Persons: I've, we've, they're, you've Organizations: Service Locations: Wall, Silicon

☆ Gen Zers and millennials are ditching 'spendy friends' who are tempting them to overspend and go into debt
▼ + stars: | 2023-07-12 | by ( Grace Mayer | ) www.businessinsider.com time to read: +5 min

Financial differences are driving some Gen Zers and millennials to break up with their "spendy friends." Eighty-eight percent of millennials and 80 percent of Gen Zers said spending time with these friends resulted in them taking on debt. Forty-three percent of millennials said they overspent on dining out, as did 37% of Gen Zers. In addition, 37% of millennials and 32% of Gen Zers report overspending on drinks and nights out. More than a third of Gen Z consumers, 36%, also said they overspent on clothing.

Persons: Zers, Gen Z, Qualtrics, it's, Courtney Alev, Z, Gen Zers, Alev, overspending, millennials, Gen Organizations: Service, Credit Locations: Wall, Silicon, millennials

☆ Personal finance expert 'The Budgetnista' shares 2 common money mistakes holding people back from building wealth
▼ + stars: | 2023-05-09 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

She wound up in credit card debt and eventually lost her home to the bank. Between her own lived experiences and now having coached so many individuals, two money mistakes stand out as the most common — and detrimental to building wealth. The second common money mistake Aliche has observed over time is that, "people don't get started because they're overwhelmed. She's been there, she said: "I thought, there's no way I can pay off $35,000 in credit card debt. While it's important to learn from financial mistakes, try not to dwell on them, she added: "People are too hard on themselves.

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