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☆ Analysis: For Twitter boss Elon Musk, now comes the hard part
▼ + stars: | 2022-10-28 | by ( Sheila Dang | ) www.reuters.com time to read: +6 min

The long term potential for Twitter in my view is an order of magnitude greater than its current value." "Buying Twitter is an accelerant to creating X, the everything app," Musk tweeted earlier this month. Twitter permanently suspended Trump for risk of further incitement of violence after the Jan. 6, 2021, attack on the U.S. Capitol. Tesla's expanding business in China, where it generated $14 billion last year, could also put Twitter at risk, Goldman, the former Twitter board member, said. Twitter is staffed with experts who review data requests from governments, but Musk has shown his contempt of these experts, he said.

Plenty of people experience financial anxiety — me included, and I'm a financial planner. Luckily, years of financial planning have helped me deal with financial anxiety and not let it derail my day (or week). Stay in touch with your moneyThe less you know about or understand your financial situation, the easier it is for financial anxiety to creep in. Creating a financial plan is the key to building confidence in yourself and vanquishing financial anxiety. Some of my worst times of financial stress yielded some of my smartest money decisions, simply because my financial anxiety forced me to review my financial plan again and take action.

Before becoming her own boss, entrepreneur Kendra Y. Hill struggled to manage her finances. Five money habits, like giving herself a generous spending budget, help her maintain her wealth. Get the latest tips you need to manage your money — delivered to you biweekly. Before becoming her own boss, Hill struggled to manage her finances. Having a large discretionary budget gives Hill peace of mind that she can do whatever she needs to do to be happy.

☆ 4 business casual staples to build your work wardrobe on any budget
▼ + stars: | 2022-10-12 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

When Casey Schow started his new job at Neighbor, a self-storage company based in Lehi, Utah, he figured he had to dress to impress. Schow chose a crisp button down and a pair of slacks for his first day in the office as Neighbor's PR and communications lead in June 2021. Imagine his surprise, then, when Schow walked into the office and half of his co-workers were wearing T-shirts and flip-flops. "I definitely felt overdressed, even though that outfit is something I would have worn to work every day before the pandemic." Revamping your professional wardrobe can add up — but you can prepare for returning to the office without overspending by investing in a couple of key pieces that will help you nail the "business comfort" look.

☆ Compass is in a precarious position. It's worth a fraction of its IPO valuation, it's never turned a profit, and employees say the former centerpiece of the business — its vaunted tech tools for agent
▼ + stars: | 2022-10-10 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +16 min

Reffkin (left) and Compass cofounder Ori Allon. Tech had been central to Compass' original missionFor years, Compass executives, including Reffkin, credited the company's tech with its meteoric rise in the residential-real-estate business. Though Compass' tech team still has 700 people, many more than any rival brokerage, the September layoffs seemed to initiate what insiders expect to be continuing cuts to the unit. "Robert is like Steve Jobs but without the insight," the veteran engineer who left Compass earlier this year said. Reffkin (left) and Allon ring the opening bell at the New York Stock Exchange.

☆ Dave Ramsey's money advice served my family well, but I finally had to ignore it to take control of my finances
▼ + stars: | 2022-10-04 | by ( Kara Detwiller | Stephanie Hallett | ) www.businessinsider.com time to read: +5 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Growing up, Dave Ramsey's financial advice helped my parents get out of debt. He especially warns people about the evils of auto loans and credit card debt. I also felt I was losing out on potential credit card perks like rewards points, airline miles, and cash back. I'm using my credit card responsibly and racking up rewardsI have been using my credit card for several months now, and I'm very happy with it.

Persons: Dave, —, Dave Ramsey's, Ramsey, I'm Organizations: Business Insider, U.S, Service, Dave Ramsey's Financial Peace, US Bank, Financial Peace University Locations: USA, Canada

☆ Holiday sales at Target and Amazon are starting in October—here’s why shopping early is a smart financial move
▼ + stars: | 2022-09-28 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

With less than 90 days until the winter gift giving season, some holiday shoppers are getting started sooner rather than later. Half of winter holiday shoppers plan to begin making purchases before Halloween this year, according to a September Bankrate survey. Although about 12% of shoppers plan to wait until December to do their holiday shopping, getting a head-start can provide added time to plan and find the best deals. "Holiday shopping will look different this year with inflation around 40-year highs," Ted Rossman, senior industry analyst for Bankrate.com, says. Even before you begin to spend money, simply starting your shopping plan early can help your budget go farther.

Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). When friends or family members ask to borrow money, I walk through six questions to decide. Naturally I can't lend money I don't have, but just because I have the money doesn't mean I can (or should) lend it. But I'm also not a charity, so when I loan money, I have to at least consider the potential for default. I'll loan money to my closest friends and family without a second thought, but that circle also extends to a larger community.

☆ A 35-year-old financial coach who was raised in poverty gave 3 pieces of advice for getting and staying out of debt — and shares one thing she wishes she did differently when paying off her student lo
▼ + stars: | 2022-09-24 | by ( A.J. Cohen | ) www.businessinsider.com time to read: +13 min

"I got some grants, but also took out some student loans." I've been paying on these student loans and I still owe the same amount and I don't get why." According to the Federal Reserve, the total amount of consumer debt at the end of 2021 — including mortgages, student loans, auto loans, and credit card debt — was $15.6 trillion. Wolfe gave Insider three tips for getting and staying out of debt — and shared one thing she wishes she did differently when she was paying off her student loans. "It could potentially mean a lifetime of debt," Wolfe said.

☆ Self-made millionaire credits his wealth to these 4 'unpopular' money rules: 'Don't buy anything you can lease'
▼ + stars: | 2022-09-20 | by ( Grant Cardone | ) www.cnbc.com time to read: +2 min

Now, I draw income from the 18 companies I started, and the 12,000 apartment units I own that make passive income. Here are the four unpopular money and spending rules I followed, at a young age, that helped me get rich:1. Don't buy anything you can lease. Don't spend to impress others. Even though I now have money to buy expensive things, I still consider myself as fairly frugal.

☆ A top fund manager shares how his inflation-focused ETF is navigating crippling price growth and the possibility of 'significant economic destruction'
▼ + stars: | 2022-09-17 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

But David Schassler, who co-manages the fund while also serving as VanEck's head of quantitative investment solutions, isn't taking a victory lap. Schassler added: "This severely limits the Fed's ability to successfully fight inflation without causing significant economic destruction." "It's not only that we own the right assets, but we've been overweight the right assets within the mix of inflation-fighting assets that we own," Schassler said. His three-step process is as follows: identify the right assets to own, optimize the portfolio by diversifying, and adapt to different inflation regimes. Examples of the right assets to own, in Schassler's view, are listed above.

☆ Buy now, pay later offers could save you more money than a credit card. Here are 3 things you should know before using one, according to a government watchdog.
▼ + stars: | 2022-09-16 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +5 min

An investigation by the CFPB found that "buy now, pay later" programs can save consumers more money than credit cards. The CFPB says that BNPL products need to offer the same protections that major credit cards do. A common regulation for credit cards includes fraud protection, for instance, available for major credit card users and secured by federal law. Overall, however, BNPL "imposes significantly lower direct financial costs on consumers than legacy credit products," the report said. The CFPB report said that BNPL loans in the US increased by 970% between 2019 and 2021.

☆ How to Cancel a Credit Card
▼ + stars: | 2022-08-24 | by ( ) www.wsj.com time to read: +9 min

If you have a metal credit card, return it by mail to the credit card issuer—your bank can send you a prepaid envelope at your request. According to popular credit advice, cancelling a credit card is a bad idea since it can hurt your credit. Say, you have two credit cards with a $2,000 credit limit and a total of $500 in credit card debt. First, if you have another credit card, you can try to request a credit limit increase to make up for the loss of available credit. Keep in mind, however, that a credit card application triggers a hard inquiry on your credit report, which can cost you some credit points.

☆ How to pick the best MacBook so you're not overspending for what you don't need
▼ + stars: | 2022-08-12 | by ( Sofia Pitt | ) www.cnbc.com time to read: +4 min

There's the new MacBook Air, for example, but Apple also sells its older 2020 MacBook Air. The 2020 MacBook Air has an 18-hour battery life, similar to the 2022 MacBook Air. 2022 MacBook Air with M2, $1,199Kif Leswing/CNBCThis is the best MacBook for most people. MacBook Pro 13-inch with M2, $1,299Apple 13-inch MacBook Pro with M2 AppleThe new MacBook Pro is a little confusing. 14-inch and 16-inch MacBook Pro with M1 Pro or M1 Max, $1,999Apple MacBook Pro Source: Apple

A financial planner suggests getting more intentional about purchases and resist the impulse buy. Ask yourself questions like whether you actually need or want it, if you have it already, and if you can afford it. Do I actually need this or want this? If I feel like I need an item, I'll typically write it down. Plus, the time you spend hunting for a better deal may help you discover if you actually need the item or not.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Here are four ways credit cards affect your credit score that you should be aware of:1. Credit historyThe age of your credit card account matters. Here's a few types to get you started:Secured credit cardSecured credit cards are great for those with little credit history or a low credit score. Credit card with no annual feeCredit cards with no annual fee are more your everyday variety of credit card. Use a budgeting and credit monitoring appWith multiple credit cards, it's good to have a central location for information.

Persons: —, It's, Shazia Virji, what's, Virji, Freddie Huynh, Huynh, they're, you've Organizations: Service, Consumer Financial Protection Bureau, Boomers, Freedom Financial

Using BNPL to spread out purchases over time has a a few advantages over paying by credit card. To help my efforts, I removed all my credit card information from being auto-saved on my favorite e-commerce sites. In just the past three months, this helped me lower my credit card bills by 25%, since I had to think through each item in my cart before getting up and manually entering my credit card information. Note that credit card lenders may use many different variations of credit score models when considering your application. While credit card issuers aren't always so transparent, each has its own credit score range that they require applicants to have.

☆ 7 things you’re wasting money on
▼ + stars: | 2022-04-27 | by ( Beth Braverman | ) edition.cnn.com time to read: +6 min

With inflation pushing the price of just about everything higher, it’s more important than ever to keep track of how you’re spending your money. Bank feesWhether you’re paying fees for withdrawing money from an out-of-network ATM or paying monthly service fees for simply having a checking account, small fees can add up to a significant amount of wasted money over time. The cost of monthly fees, if you’re unable to avoid them with your current bank, likely outweighs any interest you’re getting paid on that account. But spending money on something you don’t need just because it’s on sale can quickly lead to overspending. “These things get put on autopay, and then people don’t even realize that they’re paying for something that they don’t even use,” Ramhold adds.

☆ 5 mistakes millennials are making when building their financial life
▼ + stars: | 2022-04-14 | by ( Kunyi Yang | ) edition.cnn.com time to read: +5 min

Our seven-part guide has helpful hints for paying off student loans, negotiating your salary, building credit, and more. The road to financial independence is not easy, and usually requires patience and diligence early on. Here are the five most common mistakes young adults are making when building their financial lives:1. Waiting too long to start retirement savingPlanning for retirement is about finding a balance between putting money aside for later and having enough to pay for stuff now. “Social media creates the desire to keep up with others,” said Nick Reilly, a certified financial planner based in Seattle.

Consolidating credit card debt refers to the process of taking out a new loan to merge credit card payments into a single payment. Transfer debt to a balance transfer credit cardIf your credit is strong, you may be able to leverage one of the best balance transfer credit cards as a tool to consolidate credit card debt. Ultimately, you're using a credit card to pay down credit card debt, which can be a slippery slope. So if you're struggling with credit card debt, you may consider borrowing against your 401(k) to consolidate credit card debt. Sign up for a debt management planIf your credit card debt feels impossible and you're considering bankruptcy, you might want to consider a debt management plan first.

I asked financial advisors to share common setbacks to gaining a 7-figure net worth they've seen. Ignoring the backdoor Roth IRA option and being too risky with investments can set you back. That's why I asked some of the best financial advisors to share what the biggest setbacks they've seen clients experience trying to make it to that level. Advertisement"A Mega Backdoor Roth IRA allows high-income taxpayers to create a permanently tax-free Roth IRA, even if their incomes exceed the amount for traditional Roth ownership," said Colvert. "The last thing you want is an accident to put your hard-earned net worth at risk."

Persons: Roth, —, I've, Brian Colvert, Colvert, Billy Mondor, Mondor, Jay Zigmont, Christy Matzen, Matzen Organizations: Service, IRA, Roth

I talked to advisors about what successful strategies they saw clients use to build wealth in 2021. Using an HSA, living below their means, and setting clear money goals were some of their responses. As I reflect on this year, I was curious to hear the successful strategies others used to build their wealth. "Wanting to build wealth is not enough," said Zigmont. Financial advisor Andrew Lokenauth said that a common thing he sees with successful clients is that they are living below their means.

Persons: —, Ronit Rogoszinski, Jay Zigmont, Andrew Lokenauth, Brian Berkenhoff Organizations: Service Locations: United States

Understand how credit scores workIn general, your credit scores fall in a range between 300 and 850, which are determined by the information recorded in your credit reports. "Every time you apply for a new line of credit, your credit score will initially drop," Amaral says. Keep old credit accounts openBecause your FICO scores are partially based on how old your credit accounts are, if you close older accounts, your credit scores may drop. Monitor your credit scores and track your progressIt's important to track your credit scores as you take these steps to increase your credit. Keeping your credit cards paid off or maintaining low balances will help improve your credit utilization ratio, which should be less than 30% of your available credit.

But a conversation with a friend turned things around for me, and now I'm saving more than ever. I've stayed on budget every month this year and even found ways to save an extra $1,000 a month. After that, you can adjust the budget to reduce spending in certain categories to help you save more. Learn to say noHaving a budget allows you to know how much you can spend that month on everything from groceries to activities with friends. This has helped me save money throughout the year and not give into extra expenses that are "nice to have" but not must-haves.

Persons: I've, it's, It's Organizations: Service Locations: Wall, Silicon

The new Upgrade Bitcoin Rewards Card earns 1.5% back in bitcoin and comes with Visa Signature benefits. There is no waitlist for the Upgrade Bitcoin Rewards Card — anyone can apply today. Upgrade launched a new version of the Upgrade Card today that allows cardholders to earn bitcoin rewards on every purchase they make. And when compared with the traditional credit card rewards landscape, it does feel like a strict limitation around using rewards. The company's other credit cards are designed differently from average credit cards.

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