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Automating your savings helps you grow and increase your money over time. Typically, a good plan is to set up an individual savings account for each savings goal (like an account for travel, emergency fund, or down payment) and then automate deposits to each account on payday. Avoiding the temptation to spendThe hardest part about saving money is overcoming the temptation to dip into savings for non-essential purchases. By setting up automated transfers to your savings account, you create a barrier between your discretionary income and the money you have saved. But building the habit of saving can be the best thing that you can do for your financial journey, and automating it makes the habit much easier.

Persons: isn't, that's, it's Organizations: Service Locations: Wall, Silicon

A lot of people in my life, from my old boss to financially savvy friends, would try to encourage me to start a retirement account, but I ignored them. In addition to growing my net worth, I also wanted to find a way to retire by the age of 50 as a millionaire. With no retirement account and very little cash in savings, I've spent the first five years of my thirties being strategic with my finances. In order to make sure I'm progressing toward my goal of being a retired millionaire by 50, I keep a close eye on every dollar that comes in and out of my account. I make sure I'm spending a smaller fraction of my earnings than I have in the past so I can make up for lost time and save more.

Persons: I've, I'm Organizations: Service Locations: Wall, Silicon

☆ Fox News lost its mind over Trump's latest indictment, including host Jesse Watters' bizarre reference to Melania Trump's underwear
▼ + stars: | 2023-08-02 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +4 min

Fox News hosts fumed after former President Donald Trump was indicted again Tuesday. At one point, he said the feds had been "rummaging" through Melania Trump's "underwear drawer." Watters said: "This is the establishment terrified of Donald Trump's reelection because of all the money that's going to dry up and all the influence. Additionally, Watters called the latest indictment against Trump "legal mumbo jumbo" and said the 45-page document read like an "MSNBC script." "Donald Trump is probably one of the most consequential leaders of our lifetime.

Persons: Donald Trump, Jesse Watters, Melania, Tucker Carlson, Joe Biden, Jill, you've, Watters, Donald Trump's, Trump, Greg Gutfeld, Gutfeld, Jack Smith Organizations: Fox News, feds, Trump, Fox, MSNBC, Republican, Republican Party, Department Locations: Trump

☆ Fixed income investing is heating up. Here are a couple stocks to play it, according to Bank of America
▼ + stars: | 2023-07-13 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

A higher interest rate environment has made fixed income exciting, and Bank of America has a couple of stock plays on the theme. The Federal Reserve's series of 10 rate hikes has boosted yields on Treasurys and money market funds. Bank of America analyst Craig Siegenthaler says fixed income reallocation will continue to be a theme, and that could lift the shares of certain asset managers and brokers. "We believe [ BlackRock and Tradeweb ] are the two best ways to invest in fixed income with both retirees and pension plans raising allocations to traditional fixed income over the next 12 months," he said in a Tuesday report. He added investors should "expect sizable flows into fixed income, money markets and private credit over the next 12 months and look for bond trading volumes to increase."

Persons: Craig Siegenthaler, Tradeweb, Siegenthaler, – CNBC's Michael Bloom Organizations: Bank of America, Investment Company Institute . Bank of America, brokerages, LPL Locations: BlackRock

☆ Make way for 'an old school money contraction' in the second half, says one market strategist
▼ + stars: | 2023-07-01 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +2 min

Even obtaining cash through investments isn't as lucrative despite the gains in the S & P 500 this year, Dwyer explained. Despite the benchmark's 14% gain this year, Dwyer explained that the median stock in the NYSE is only up 3%. And 54% of the S & P 500 is trading 20% below its 52-week high. According to FactSet, consensus estimates for S & P 500 earnings per share this year are hovering just under $220, which generates an earnings yield of about 4.75%, based on current prices. The strategy doesn't mean going short when markets go negative, Dwyer explained, but rather looking to take advantage of the downside ahead.

Persons: Canaccord, Tony Dwyer, Dwyer, Melissa Lee, Lehman Organizations: NYSE, & $

I regularly move my money between various high-yield savings accounts and CDs for better rates. Over the years, this has helped me earn thousands of dollars in passive income, since I've been able to find interest rates that often tower over 5%. See Insider's picks for the best 1-year CD rates »1. Since I'm usually moving thousands of dollars at a time, I need to make sure that I'm making a smart money move before taking the leap. Interest rates are constantly changing, which means they sometimes become lower.

Persons: —, I'm, I've, isn't, that's Organizations: Service

☆ Jim Cramer: Here's my outlook on stocks for the rest of 2023 — and how I'm playing it
▼ + stars: | 2023-06-25 | by ( Jim Cramer | ) www.cnbc.com time to read: +13 min

A 6% solution to no inflation from the stock market. But not enough, again, because of the wave of money that's now flowing through the sand of the economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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: —, Jensen Huang, Jensen, ChatGPT, Leonardo Da Vinci, Tesla, Elon, let's, Jerome Powell, Powell, Joseph Stalin, dismissively, FANG, That's, Wall, LEN, Salesforces, Cook, Zuckerberg, Huang, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Apple, Microsoft, Nvidia, Treasury, Federal Reserve, Tesla, Fed, Boeing, Devices, Adobe, Toll, Royal, Holdings, Musk, Jim Cramer's Charitable, CNBC Locations: Ukraine, Royal Caribbean

☆ Get paid for doing nothing: What you should know about cash sweep accounts
▼ + stars: | 2023-05-19 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Doing nothing pays these days — at least that's the case if you're talking about cash that's sitting in your brokerage account. Consider Fidelity Investments is offering a 2.6% APY on its cash management account, but LPL Financial pays 0.45% on its insured cash account for clients with $300,000 to $500,000 in household value. First, examine your goals for the money before you shop around for cash sweep rates. Finally, if you do pile cash into your sweep account, think about the tax implications of doing so. Some firms offer different options for investing your cash sweep account, including a municipal money market fund for investors who reside in high-tax states.

☆ Debt in advanced economies is piling on to global challenges, says World Bank president
▼ + stars: | 2023-05-12 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Developed economies across the world are facing a debt problem, and that's piling onto other headaches in the global economy as central banks continue to grapple with persistent inflation, according to World Bank President David Malpass. Speaking to CNBC's Martin Soong at the G-7 finance ministers and central bank governors' meeting in Japan, Malpass emphasized that record-high global debt levels need to be addressed for stability. "The debt-to-GDP ratios for the advanced economies are higher than ever before," he said, adding that developing countries are also facing a similar issue. The World Bank has emphasized the need for transparency in addressing rising debt in the face of a number of global economic issues, including stress in the banking sector and sticky inflation. The organization last month chaired the Global Sovereign Debt Roundtable in Washington D.C. and highlighted its call for information sharing to speed up the process of debt restructuring in the world.

A high-yield savings account is a good place to store money for short-term needs. Many banks offer high-yield savings accounts with variable high interest rates. A high-yield savings account may be the best place to save money for travel or a wedding. The best high-yield savings accounts offer variable annual percentage rates (APYs), some at 3.75% APY or more. Fun moneyIf you really want to reward yourself, consider putting your "just for fun" money in a high-yield savings account.

☆ A recovering overspender explains how she makes a game out of having a 'no-spend day' to break bad habits and get her finances back on track
▼ + stars: | 2023-04-23 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +5 min

Rebecca Sowden explains "no-spend days" and shares money-management strategies on TikTok. "No-spend days" involve training your financial habits so that you can meet goals and pay off debt. 'No-spend days' can really add upOne trend she's promoted is the "no-spend day" challenge. One TikTok user, @thesavvysagittarius, set a goal of doing as many no-spend days as she can until she pays off her debts, which she said adds up to about $13,000. "We're left with these habits that we got used to, these activities that include spending money that's really not sustainable.

☆ Howard Marks says rock-bottom rates are history, bitcoin has its uses, and AI won't replace the best investors. Here are his 8 best quotes from a new interview.
▼ + stars: | 2023-04-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Howard Marks says interest rates won't return to zero anytime soon. The billionaire investor warns the ballooning US federal debt may cause problems in the future. Marks says AI won't replace the best investors, and the banking fiasco shone a light on bitcoin. (Marks was warning that continued growth in the US federal debt will likely have serious consequences down the line.) It should be harder and harder and harder to run money and be paid highly for producing inferior.

See Insider's best CD rates>>What are the advantages of a CD ladder? While setting up a CD ladder provides more flexibility than a single long-term CD, it's still less liquid than a savings account. A CD ladder is also not a true alternative to the stock market for long-term investing goals. Or you might want to build a CD ladder for money that's been earmarked for a car purchase in two years. A CD ladder can be a great fit for mid-term savings goals like these that have a specific purpose.

☆ Ether is rallying ahead of major upgrade that will let holders more easily access their tokens
▼ + stars: | 2023-04-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Ethereum underwent a huge network upgrade called the merge which proponents say will make transactions much more energy efficient. Following the merge, ether prices have dropped following a huge run up ahead of the event. Ether has spiked this week to a nine-month high, ahead of a major network upgrade that some crypto enthusiasts say will make the digital currency a more profitable long-term investment. Currently, over 18 million ether tokens worth about $32.5 billion are staked, meaning that 15% of ether's total supply are considered locked assets. That could signal a buildup of bearish bets leading up to the network upgrade.

☆ Salesforce, Caterpillar and Disney are in the news. Here's our take on the headlines
▼ + stars: | 2023-03-27 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Meanwhile, analysts who cover Caterpillar (CAT) put out fresh research that cuts against our own thinking, and layoffs will soon begin at Disney (DIS). The Salesforce co-founder echoed the we-can-learn-from-everybody philosophy he laid out on March 1 in an interview with Jim Cramer. Salesforce shares, which rose modestly Monday, has surged more than 44% this year, the third-best performing Club stock behind Nvidia (NVDA) and Meta Platforms (META). Baird turns bearish on CAT CAT 1Y mountain Caterpillar's 12-month stock performance. "It's very hard to get in and out of CAT," Jim said Monday.

My interest rates will grow over time if I don't touch the money in my CDs. And as we're in an environment with rising interest rates, I've also decided to open several certificates of deposit. I was learning about different ways to make the most of my savings, and interest rates were hovering around 5%. I'm enjoying some flexibility by laddering my CDsAnother tactic that I employed nearly two decades ago that I'm bringing back is CD laddering. And as there's a chance that interest rates might increase again, I can potentially enjoy a higher interest rate on the same term down the line.

☆ As some retirees worry about surprises this tax season, these resources may help
▼ + stars: | 2023-02-01 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Seniors may also seek help from other tax professionals this year to meet the April 18 deadline to file their federal returns. Where to find free tax helpAARP's Tax-Aide program is the largest volunteer-based tax assistance program in the country, according to Lee-Villanueva. The program works in collaboration with the IRS Volunteer Income Tax Assistance, or VITA, and Tax Counseling for the Elderly, or TCE, programs, which provide free basic tax return preparations to individuals who qualify. The government temporarily made the child tax and earned income tax credits more generous during the Covid pandemic. Tom O'Saben director of tax content and government relations at the National Association of Tax Professionals

☆ A financially independent 34-year-old says that building wealth through real estate investing is 'a numbers game.' He explains how to win the game by avoiding 'lazy money.'
▼ + stars: | 2023-01-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

The key to making money as a real estate investor is to avoid what he calls "lazy money." He also owns a handful of properties and manages two funds that invest in commercial real estate, both of which he owns a piece of. "I'm supremely confident that real estate is much better from a risk-reward standpoint than stocks," the 34-year-old told Insider. Making money via real estate investing "is all a numbers game," said Berkley. And the way to win the game is by avoiding what he calls "lazy money," which he describes as money that's not being put to use in the best way possible.

☆ Companies like Etsy, eBay, and PayPal are fighting a new tax law they fear could lead to an avalanche of 40 million new tax forms and mass confusion among their users
▼ + stars: | 2023-01-23 | by ( Madeline Stone | ) www.businessinsider.com time to read: +6 min

A group of companies including Etsy, eBay and PayPal are lobbying against new tax rules. E-commerce companies including Etsy, eBay, and Poshmark are lobbying to stop a new tax rule that they say would confuse millions of their users. But at the lower threshold, an estimated 30 to 40 million businesses or individuals could receive a 1099-K for the first time in 2024. An eBay spokesperson said the lowered threshold is "concerning for many sellers on eBay who casually sell online to help meet important financial needs." Jeffrey Zubricki, head of Etsy Americas advocacy and public policy, was optimistic about efforts to raise the threshold from $600.

☆ Federal prosecutors are probing Rep-elect George Santos' finances after he admitted to lying about some of his work and education history: reports
▼ + stars: | 2022-12-29 | by ( Lina Batarags | ) www.businessinsider.com time to read: +2 min

Federal prosecutors are looking into Rep-elect George Santos' finances, per media reports. Santos has admitted to lying about parts of his work and education history. Santos' most recent financial disclosure shows a $750,000 salary from a company he founded. Santos also lent $705,000 to his campaign through Devolder, per a Federal Election Commission form filed on December 8. On Monday, he admitted that sections of his work history – including the stints at both Goldman and Citigroup — were made up.

It might not be a surprise that the three biggest financial institutions in the US are Bank of America, Chase, and Wells Fargo. Compare Bank of America and Chase and Wells Fargo Bank of AmericaChaseWells Fargo Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Editor's Rating 3.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Standout feature Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Bank of America Advantage Savings Account Chase Savings℠ Wells Fargo Kids Way2Save Savings Account APY 0.01% to 0.04% 0.01% effective as of 10/10/2022. Bank of America, Chase, and Wells Fargo are all FDIC insured.

☆ Wall Street landlords who've stockpiled $110 billion are lying in wait for their biggest American home-buying spree yet
▼ + stars: | 2022-12-22 | by ( James Rodriguez | Daniel Geiger | ) www.businessinsider.com time to read: +11 min

Institutional investors have earmarked as much as $110 billion to buy or build single-family homes. Institutional investors now own about 3% of the roughly 20 million single-family-rental homes in the US, according to Roofstock, an online marketplace for single-family investment properties. That would be nearly 9% of the roughly 88 million single-family homes in the US, according to the Census Bureau's most recent statistics from 2020. Better deals expected in the years aheadThere are signs the institutional investors won't have to wait long to begin buying. That leaves between roughly $70 billion and $80 billion that could still flow into the sector.

☆ Scott Galloway looked at 100 charts on US inequality for his new book. America is adrift, but here's why he's optimistic.
▼ + stars: | 2022-12-21 | by ( Paul Constant | ) www.businessinsider.com time to read: +6 min

NYU professor Scott Galloway spoke to Paul Constant about his book "Adrift: America in 100 Charts." Galloway says we need to bring back the middle class, but there's still hope for the US. This process offered him several important new insights into the decaying of the American middle class — and a surprising sign of optimism for the future. Galloway believes America has been its own worst enemy, with outsized political division keeping us from solving the problem of inequality. "First you have to acknowledge that the middle class is an accident, and it's not self-sustaining," Galloway said.

☆ Cramer: Apple, Amazon, Microsoft and Google will fuel the next rally — but not in the usual way
▼ + stars: | 2022-12-11 | by ( Jim Cramer | ) www.cnbc.com time to read: +8 min

Those who fought this trend abandoned Twitter, hired bodyguards and tried to hide from the angry mob that was attempting to will stocks higher by savaging the sellers. As a result, they overran their brains and outsourced them to others who claimed to know more than they did. My point is this: The crypto con and the Robinhood dollar conflagration can't produce enough money to buoy stocks. We will hold Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL) and Amazon , even as we've trimmed them higher. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ How to live in NYC on just $100 a month, from a 27-year-old comedian who went viral on TikTok documenting his journey
▼ + stars: | 2022-12-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

The comedian decided to see how long he could get by on just $100 in New York City. The 27-year-old worked as a truck driver until late last year, when he moved to New York City to pursue stand-up comedy. Even before beginning his $100 challenge, Hoy avoided New York City's high rents by living in a van he parks for free in Queens. Not counting his vehicle insurance, here's how Hoy got by day-to-day for a month on just $100. "If you drink coffee every day, think about how much money that's saving you," he said.

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