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Kid's savings accounts are a great way to teach your kids how to budget, create savings goals, and start building up their savings. Best Kids Savings Account ReviewsThe best savings accounts for kids offer good monitoring features, educational resources, and low monthly fees. Key Benefits of a Kids' Savings AccountThe key benefit of getting a kid's savings account is that you can grow your child's savings in a relatively accessible and safe way. Features to Look for in a Kids' Savings AccountHigh Interest Rates on Kid's BankingFor the most part, kid's savings accounts are interest-earning accounts. How to Open a Savings Account for Your ChildChildren's Savings Account Eligibility RequirementsA kid cannot open a savings account on their own.

Persons: Chase, Alliant, Foster, JP Morgan Chase, Jeffrey Epstein's, Banks, isn't, there's, Tania Brown, Sophia Acevedo, Mykail James, Roger Ma, James Organizations: Mortar Bank Chase, Chase, Best Online Bank, Best Credit Union Alliant Credit, Credit Union, Foster, Business, Chase Bank, Washington DC, Capital, Credit, Alliant Credit, Savings, Foster Care, U.S . Virgin, Banking, Kid's Banking, Kid's, Kids, FDIC Locations: NY, LA, TX, VA, NJ, Washington, Connecticut , Delaware , Louisiana , Maryland , New Jersey , New York , Texas, Virginia, Chevron

☆ A self-made millionaire shares the money advice she'd give her 20-year-old self, including mistakes to avoid
▼ + stars: | 2024-07-17 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

"I was very lucky that I started from zero with my financial journey," the New England-based 36-year-old told Business Insider. AdvertisementThe financial educator, whose mission is to help young women grow their wealth, didn't get to where she is without a bit of trial and error. AdvertisementWhen you first start investing, "it can feel like it takes some time," she noted. "But once you start building wealth, whether it's in real estate or the stock market, your efforts really do start to compound. Overpaying for a financial advisorWhen Waresmith eventually put her cash to work in the stock market around 2013, she paid a financial advisor to manage her portfolio.

Persons: —, Tess Waresmith, Waresmith, Tess, didn't, she'd, hasn't Organizations: Service, Boston University, Business Locations: England, America

☆ A 36-year-old who built a seven-figure net worth shares how she invested her money and her current portfolio
▼ + stars: | 2024-07-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

Courtesy of Tess WaresmithHer current portfolio: real estate, index funds, individual stocks, crypto, and cashWaresmith has continued to diversify her portfolio over the years. "But then there are other ways to diversify within the stock market and also outside the stock market. "I think there's a misconception around real estate investing that you have to have 300 units to be successful," she said. In her case, the first deal she did was "a total game changer and allowed me to invest more in the stock market. The stock market: index funds and individual stocksWaresmith prefers index funds because "it's such an easy way to get exposure to the whole stock market," but a small portion of her portfolio, less than 5%, is in individual stocks.

Persons: —, Tess Waresmith, Waresmith, Tess, Waresmith's, I've, she's, I'm, It's Organizations: Service, Boston University, Fortune, Business, BU, America Locations: New England, America, Tampa , Florida, Salem , Massachusetts, Tampa, Massachusetts

☆ An investment banker quit her job to become a YouTuber and now makes over $1 million
▼ + stars: | 2024-07-10 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +4 min

Nischa ShahPersonal finance YouTuber Nischa Shah quit her six-figure investment banking job to become a full-time content creator — and it was a gamble that paid off. Shah started dabbling with making YouTube videos about personal finance and self-development in December 2021 — and now has over 1 million subscribers on YouTube. This success led her to quit her investment banking job in January — despite the fact she was due to receive a six-figure bonus two months later. Shah is now earning over $1 million by monetizing her YouTube videos, selling courses and products, doing corporate talks, and partnering with brands. Shah walked CNBC Make It through how she grew her YouTube channel and prepared to quit her investment banking job.

Persons: Nischa Shah, YouTuber Nischa Shah, Shah, it's, —, It's Organizations: Crédit Agricole, CNBC, YouTube Locations: London, —

☆ I quit Merrill Lynch to start my own business. Leaving a 7-figure income and cushy corporate perks was hard, but I don't regret it.
▼ + stars: | 2024-07-09 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. It was not easy to leave the comfort of my corner office, corporate perks, and awards and recognition at a big Wall Street bank. I felt like I needed to take a bigger leap and start my own thing, but I had no idea how to start a business. I don't go to the office much anymore, though most of my team chooses to go into the office. Had I stayed at a big Wall Street bank, I never would've been able to start my other businesses.

Persons: —, Chad Willardson, Merrill Lynch, Morgan Stanley, Goldman Sachs, I've, it's, Warren Buffett Organizations: Service, Pacific, Business, UBS, LinkedIn, Entrepreneurship Locations: Orange County , California, Southern California

☆ I read a 27-year-old cult classic considered one of the most popular money books of all time. Here are my 3 main takeaways.
▼ + stars: | 2024-07-07 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

I first reported on Robert Kiyosaki's "Rich Dad Poor Dad" back in 2015. — part assignment (I recently started reviewing popular money books) and part convenience: "Rich Dad Poor Dad" was gifted to me a few years back and happened to already occupy my bookshelf. His poor dad earned a substantial income but always struggled financially; his rich dad became one of the wealthiest individuals in Hawaii primarily by running businesses. While rich dad wasn't educated in the traditional sense, he understood money — and agreed to pass on that understanding to Mike and Kiyosaki. The former, according to rich dad, will "shut down your brain" and create a "lazy mind," while the latter forces you to be solutions-oriented and get creative.

Persons: Robert Kiyosaki's, Rich Dad, I'd, Dad, What's, It's, he's, Mike, Kiyosaki, wasn't, —, Kiyosaki isn't Organizations: Service, Business, Stanford Locations: Hawaii

☆ How a Seattle couple achieved financial independence in their mid-30s after paying their way through school — and why they don't want to retire early
▼ + stars: | 2024-07-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Mai-lan Phan and her husband, Ryan Wagoner, both 36, reached financial independence, but neither wants to fully retire early. Many Americans are working to achieve financial independence — or having enough savings or income to live comfortably for life. Advertisement"I want to be able to walk away from any job if it's not working," Wagoner said. Nerve damage in her right hand prevented her from returning to work full-time. She said their finances were solid enough from not "keeping up with the Joneses" that she could work less while her husband continued to work full-time.

Persons: Phan, Ryan Wagoner, Wagoner, it's, —, I'm, we're, they've, she's, They've, — Phan, We've, we've Organizations: Service, Seahawks, Business, FIRE, Subway, Michigan State University, Microsoft Locations: Phan, Seattle, Michigan, Mexico, Paris, Thailand, Europe, Asia

☆ Gen Z and millennials are going into debt to travel this summer. Remote working may be partly to blame.
▼ + stars: | 2024-07-01 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

A Forbes Advisor survey of 1,000 Americans who plan to travel in 2024 showed the post-pandemic "revenge travel" boom is in full force, despite rising inflation. The stats weren't surprising to Thomas, who told BI that this new trend could be partly attributed to the rise of remote work. Revenge travel and other loansIt's not just remote and hybrid working that may have contributed to a rise in travel spending. Travel experts previously told BI they had noticed an uptick in clients opting for luxury air travel experiences, from private jets to first-class and premium-class plane tickets. Thomas and financial expert Julie Beckham told BI that young people are likely to be influenced by peers who are showcasing their travel experiences online.

Persons: —, millennials, Zers, Credit Karma, Johannes Thomas, Thomas, Ivan Saprov, Saprov, Oliver Bell, Julie Beckham, Beckham Organizations: Service, Forbes, Business, Credit, Bank of America, BI, KPMG US, Financial Education Development, Rockland Trust Locations: Rockland

☆ Home prices are surging the fastest in these 19 US cities — rising more than 10% over the last 12 months
▼ + stars: | 2024-06-23 | by ( Christine Ji | ) www.businessinsider.com time to read: +1 min

It's a difficult housing market for new homebuyers, as prices continuing increasing. We've listed below the 19 cities where home prices have risen the most, increasing 10% or more. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementInflation might have come down, but the housing market is one area where prices are still rising, according to a recent analysis by financial education site SmartAsset. Nineteen of these cities saw price increases of 10% or greater, which we've compiled below.

Persons: SmartAsset, —, we've Organizations: Service, Business

However, I was raised in a household where it was deeply ingrained that we were to be generous and help others at all costs. While I do want to help my family, this messaging isn't conducive to tucking funds away for Future Me and putting my own financial needs and goals top of mind. By taking care of your financial needs, you'll be in a much better place to care for your loved ones. Depending on your situation, you not only need to know your wants and needs, but you also might need to know your family's wants and needs. If you want help with your financial situation and juggling your needs and your family's needs, consider working with a financial advisor.

Persons: I've, churchgoers, Thao Truong, Truong, you'll, I'm Organizations: Service, Business, Morton Wealth, Budget, Foundation, Financial Locations: Los Angeles, Vietnam

☆ Kyla Scanlon explains Gen Z's divided attitudes toward investing
▼ + stars: | 2024-06-22 | by ( Anna Gleason | ) www.cnbc.com time to read: +1 min

Economic commentator Kyla Scanlon is noticing a potentially worrying trend in the investing outlook among younger generations. "But then you have the other side, which is an element to financial nihilism, where people don't want to save for retirement. They don't want to save money in general because they don't believe the future is there." Scanlon is aiming to bridge Gen Z's divided financial attitudes with her new book, "In This Economy? "The younger generation definitely wants [homeownership], because there's a lot of financial benefit to having equity," she said.

Persons: Kyla Scanlon, CNBC's, Scanlon, Gen Zers Organizations: National Association of Realtors

☆ E-Trade is debating whether to ban meme stock star Keith Gill from its platform, the WSJ reports
▼ + stars: | 2024-06-03 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

E-Trade is having internal discussions about whether to ban Keith Gill — the meme stock trader who just disclosed a big position in GameStop — from the trading platform over concerns regarding potential market manipulation, the Wall Street Journal reported Monday. The brokerage, owned by Morgan Stanley , hasn't reached a decision yet, the Journal said, citing people familiar with deliberations inside the firm. GameStop shares shot up early Monday after Gill, who goes by "DeepF------Value" on Reddit, posted a screenshot of what could be his portfolio holding a significant amount of GameStop common shares and call options. The meme stock mania in 2021 led to a series of congressional hearings, including testimony by Gill, around brokers' practices and gamifying retail stock trading. Gill also faced several class action lawsuits, including one alleging that he pretended to be a novice trader despite being a licensed professional.

Persons: Keith Gill, Morgan Stanley, hasn't, Gill, DeepF, Morgan, May Gill Organizations: GameStop, Wall Street, CNBC, MassMutual

☆ At 36, I'm on track to retire by 45, thanks to 4 small, powerful wealth-building habits: 'I found financial freedom when I took control'
▼ + stars: | 2024-05-28 | by ( Kimberly Hamilton | ) www.cnbc.com time to read: +4 min

I had recently moved to Washington, D.C., with a $40,000 starting salary, almost $45,000 of student debt and very little savings. I started with small but powerful changesDiscovering that interest calculator was a huge turning point for me because it jumpstarted my financial education. At the time, I made about $2,492 per month after taxes and deductions, and before monthly debt payments. I slowly increased my debt payments. As my income grew, I increased my extra debt payments up to $1,500 until I was debt-free.

Persons: I've Organizations: Washington , D.C, Beworth Finance, Craigslist, Technology Locations: Washington ,

☆ Gen Z's key to financial security
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGen Z's key to financial securityYoung adults in the U.S. - ages 18 to 34 - are more likely than any other generation to say that "owning my own business" is key to their financial security, according to a new cnbc global your money survey. As part of its financial education initiative, CNBC, in partnership with Junior Achievement, brought together business leaders to discuss founding a company as a possible career path. CNBC'S Senior Personal Finance Correspondent looks at how this career exploration program in Denver aims to inspire high school students to become entrepreneurs.

Organizations: cnbc, CNBC, Junior Locations: U.S, Denver

☆ I saved $100,000 by 25 thanks to the good financial habits my mom and dad gave me. Here are my top tricks.
▼ + stars: | 2024-04-05 | by ( Aleenah Ansari | ) www.businessinsider.com time to read: +5 min

Money gave me the freedom to leave a toxic job, travel to Europe, and launch my career as a financial advisor. When I set out to save $100,000, I was 22, living in Seattle in 2016 and making $55,000 at my first corporate job. Saving $100,000 was a combination of privilege and hard work. I felt confident I could launch a successful financial education platform and take my financial education business, "Her First $100k," full-time. I wouldn't have hit my $100,000 goal as quickly if I hadn't routinely invested in these accounts.

Persons: Tori Dunlap, Roth, there's Organizations: Service, Business Locations: Seattle, Europe, Costa Rica

☆ 2 certified divorce financial advisors share 4 mistakes to avoid when it comes to dividing assets and money planning after marriage
▼ + stars: | 2024-04-05 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

That's why the duo, who are both certified divorce financial advisors, launched Divorce Friday, a financial education blog for those going through a split. "I know that women need more help when they're going through a divorce. Through the years, Pappas and Chen have seen some common mistakes that divorcees make when divvying up assets. "If they're going to be single now, the tax rate is effectively higher, so they're going to have less income with a higher tax rate, and that is a problem." 2024 federal income tax brackets

Persons: Diane Pappas, Chris Chen, Pappas, there's, it's, Chen Organizations: Census, Centers for Disease Control, Business Locations: State, New York

☆ Walmart, Chipotle are splitting the wealth of a record stock market in a way they haven't in decades
▼ + stars: | 2024-03-31 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

For Chipotle, it's the first stock split in the company's 30-year history, and its announcement echoed Walmart's. Both are hoping, through the availability of an employee stock purchase plan and financial education, they'll get more workers to invest. Chipotle, even further out on the market chart, has shares nearing $3,000 — its stock split is to be effective June 26. ESPP versus fractional sharesEven without a stock split, employees could have already purchased shares of their company, or at least fractional shares, through a brokerage account. Company stock and financial educationSplitting a stock and having a generous ESPP can only go so far when it comes to encouraging employees to buy the company stock.

Persons: they'll, Michael Kestenbaum, Chipotle, Dan Kapinos, Clemens Kownatzki, Aalap Shah, Pearl Meyer, SoFi, Kownatzki, Larry Fink, Kestenbaum Organizations: Walmart, Companies, West Coast, Google, Pepperdine Graziadio Business, Khan Academy, Lyra Health Partners, Bank of America, Employees Locations: Aon

☆ Influencer Tori Dunlap is spurring women to maximize their savings and invest in the stock market
▼ + stars: | 2024-03-28 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Sarah WolfeAs Tiffany Mane read a personal finance book during her train ride to work, a woman sitting near her acknowledged that she, too, knew of the author. And there's a cyclical effect at play: Women utilize Dunlap's resources to improve their financial lives, and then share the information with others. A 2021 survey from NerdWallet showed women were less likely to be invested in the stock market than their male counterparts. "This kind of identity-focused personal finance is 100% necessary, and is the future of personal finance." In that group, members share financial wins and trade advice on topics like which banks or credit cards to use.

Persons: Sarah Wolfe, Tiffany Mane, Mane, Tori Dunlap, Dunlap, isn't, She's, Annamaria Lusardi, Lusardi Organizations: D.C, Finance, Facebook, Stanford Institute for Economic Policy Research, Global Financial Locations: Washington, York, NerdWallet

☆ BlackRock's Larry Fink sees Social Security crisis, says 65 retirement age 'a bit crazy'
▼ + stars: | 2024-03-26 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

He said access to investing can help solve this conundrum, while also pondering if the expectation for everyone to receive Social Security benefits at age 65 has become archaic. Worsening the outlook is a Social Security system that's said it will not be able to pay full benefits by 2034. The 71-year-old believes the American retirement system has entered such a deep crisis that it has become a once-in-a-generation issue. That's because this both can benefit individuals and help ensure the long-term health of Social Security. Increasing lifespans create further difficulties when trying to improve the retirement system, Fink said.

Persons: Larry Fink, Fink, that's, it's, — Organizations: BlackRock, Social, Census Bureau, Security, Social Security Locations: America, Ottoman Empire

☆ How to beat the retirement crisis: The founder of America's top wealth advisor explains how to properly save, and shares 2 sectors that could expedite returns if you're not on track
▼ + stars: | 2024-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

But let's say you're 30 years old and haven't started stashing money away; you may have difficulty getting there. And as a result of this, if you're going to live during a 30 or 40 year retirement. In Edelman's opinion, you're late to the game if you're over 25 and haven't started saving and investing. When people do set money aside, it's often in the wrong places, such as bank savings, money market accounts, and government bonds, Edelman said. All of this might sound complicated for a beginner, but diversification can be achieved through exchange-traded funds (ETFs), Edelman noted.

Persons: haven't, Ric Edelman, Barron's, Edelman, it's, aren't, Franklin Templeton Organizations: Federal Reserve, Edelman, New York Times, Trust, Vanguard Locations: America

According to financial coach Hillary Seiler, you still need to spend less than you earn, even if that requires adjusting your budget. To make it from paycheck to paycheck, many are finding themselves spending more money and carrying credit card debt. "People never want to hear this one piece of advice, but it's important to spend less than you earn in any economic environment, but especially now." AdvertisementHere are three ways to start spending less than you earn:1. Review and adjust your spending habitsLook at how you spend your money. "You can earn more interest on your money now, and that will help it grow much quicker."

Persons: Hillary Seiler, Hilary Seiler, Seiler, doesn't Organizations: Business

☆ Overcome Hidden Obstacles to Achieve Prosperity
▼ + stars: | 2024-03-05 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOvercome Hidden Obstacles to Achieve ProsperityWhen it comes to managing their money, women commonly use the word "fear," and describe feelings of overwhelm and intimidation. This best-selling author and founder of one of the largest financial education platforms for females, will discuss closing the confidence gap, how women can discover what stands between them and creating the life they want, and why prosperity can take on many different meanings.

☆ 35 states require personal finance course to graduate high school, survey finds
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email35 states require personal finance course to graduate high school, survey findsNan Morrison, Council for Economic Education president and CEO, joins 'Squawk Box' to discuss results from its latest 'Survey of the States', which examines financial education and literacy across the country.

Persons: Nan Morrison Organizations: Economic Education, Survey

☆ Once you hit this credit score, banks will 'fall all over themselves' to work with you, says money expert—it's not a perfect 850
▼ + stars: | 2024-02-24 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

It may be hard to imagine digging yourself out of $100,000 in credit card debt and boosting your credit score by 400 points. Khalfani-Cox boosted her credit score from the low 400s to a perfect 850 after spending three years paying down her debt. Although her credit score sits at 806 as of the last report date on Jan. 20, she says she still receives the same benefits as when she had a perfect 850. That's because Khalfani-Cox's most recent score still places her in the "exceptional" credit score category. "Once you're in the perfect credit scoring range, banks are going to fall all over themselves to do business with you."

Persons: Lynnette, Cox Organizations: New York Times, Resilience, CNBC

☆ You can put a price tag on the value of a personal finance education: $100,000
▼ + stars: | 2024-02-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Taking a financial education class in high school does pay off. In fact, there is a lifetime benefit of roughly $100,000 per student from completing a one-semester course in personal finance, according to a recent report by consulting firm Tyton Partners and Next Gen Personal Finance, a nonprofit focused on providing financial education to middle and high school students. Much of that financial value comes from learning how to avoid high-interest credit card debt and leveraging better credit scores to secure preferential borrowing rates for key expenses, such as insurance, auto loans and home mortgages, according to Tim Ranzetta, co-founder and CEO of Next Gen. "Students bring these lessons home," Ranzetta said. "When you take that $100,000 in savings and multiply it across families and communities, it's an incredible economic engine."

Persons: Tim Ranzetta, Ranzetta, isn't, Kerri Herrild Organizations: Tyton Partners, Finance, Biden, De Pere High School Locations: Wisconsin

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