- Business Insider 17:15January 17, 2020I lost $25 million and couldn't be prouder. Here's what it taught me about following my values.Courtesy of Marco Greenberg Marco Greenberg is the president of communications boutique Thunder11 and author of "Primitive: Tapping the Primal Drive Powering the World's Most Successful People," published by Hachette and available April 2020.
He was an initial advisor for a friend's internet company — and agreed to a lock-up period of his stocks when his friend called and asked.
That phone call ended up costing him $25 million when the stock price tumbled.
But, to this day, he still doesn't regret it — he focuses on using his money in values-based ways, such as supporting a friend.
Visit Business Insider's homepage for more stories. We eat too much, drink too much, and spend too much. Such are the indulgences of life.
But rather than regret and atone with stricter goal setting, I want to argue the opposite: Loosen the reins and be even more generous with time and money. Let go of the Protestant ethic of "work, work, work" and "save, save, save." Instead, start putting principles over profits.See the rest of the story at Business InsiderNOW WATCH: Taylor Swift is the world's highest-paid celebrity. Here's how she makes and spends her $360 million.See Also:I took a 9 month sabbatical from work to travel. Here's how I did it — and 4 reasons I recommend it to everyone.The secret to success is a question of habit. Here's 10 powerful habits practiced by top executives, and a guide for how to perfect them.I went to TEDWomen to hear the wisdom of rule breakers. Here's what I learned from 6 innovators about their strategy for shaking up the world.SEE ALSO: Former governor Martin O'Malley: There's a new, promising wave of governance — and it's coming from technology and cities
< Akamai Technologies, Money, values, Friendship, Family, loss, original contributor, contributor 2019, >
- The Guardian(UK) 09:00January 17, 2020Charity gap highlights need to rebuilt society, says thinktankNCP says investment to renew communities must go with vows to boost infrastructureCharitable wealth and resources – from volunteers to philanthropic donations and council grants – is disproportionately concentrated in England’s most affluent areas at the expense of the country’s most deprived communities, a report claims.The thinktank New Philanthropy Capital (NPC) calls for a rebalancing of public funding and philanthropy to rebuild civil society – broadly defined as local charities, clubs and community and voluntary groups – in the “left behind” areas of the north and Midlands. Continue reading...
< Charitable giving, Charities, Society, Voluntary sector, Money, Consumer affairs, North-south divide, UK news, Poverty >
- Business Insider 21:20January 16, 2020Here's where the royal family gets their moneyREUTERS/Hannah Mckay The Queen doesn't get all her money from taxpayers.
She profits from a land trust called the Duchy of Lancaster in addition to the estates and artwork she inherited from her father.
Prince Charles paid Harry and Meghan, William and Kate, and their children a combined $6.5 million (£5 million) in 2019, according to The Wall Street Journal.
The Sunday Times estimated the Queen's net worth to be $442.92 million (£340 million) in 2016, which makes her far from the richest person in Britain.
Visit Business Insider's homepage for more stories. The Queen may be financially supporting Prince Harry and Meghan Markle (for now, anyway) — but she's not as rich as you might think.
Elizabeth II has a net worth of $442.92 million (£340 million), derived from a grant from taxpayers and two additional income sources, The Sunday Times estimated in 2016. That's still more than the Duke and Duchess of Sussex, who have a shared fortune of $30 million, Business Insider previously reported.
Nonetheless, the young couple announced their decision to "step back as 'senior' members of the Royal Family" and work towards financial independence in a statement released on January 8.
Here's how the British royal family makes their fortune.Every year, the Queen gets a chunk of cash from taxpayers called the Sovereign Grant.
Gareth Fuller/PA Images
It comes from the treasury and it's funded by taxpayers, according to the BBC.
The basic agreement is that the Queen gets the grant in exchange for surrendering all profits from the Crown Estate — the family's massive portfolio of properties — to the government. Every year, the Queen is given an amount of money equivalent to 25% of the Crown Estate's profits.
The Grant totaled $107.1 million (£82.2 million) in 2019, The Wall Street Journal reported.
The Sovereign Grant pays for the family's travel, palace upkeep and utilities, and royal employee payroll, according to official royal family financial reports. But The Telegraph notes that the grant doesn't cover costs of security and royal ceremonies — that money comes from a few other places.
The Queen's private income is called the Privy Purse.
Michaelpuche / Shutterstock.com
That money comes from the Duchy of Lancaster — a portfolio of land and other assets that's been in the royal family for hundreds of years. It contains $715 million (£548.6 million) worth of net assets (including 18,433 hectares of land) and is made up of residential, commercial, and agricultural properties, Wall Street Journal UK correspondent Max Colchester reported.
It brought in $27 million (£20.7 million) in 2019, according to The Journal. According to the royal family website, this sum helps with costs not covered by the Sovereign Grant — namely, it's used to pay "expenses incurred by other members of the royal family."
The Queen also has other valuable assets that add to her net worth.
Jane Barlow/PA Images via Getty Images
The Queen also outright owns Balmoral and Sandringham Estates, an expansive art collection, and other valuable assets that have been passed down from earlier monarchs, Wall Street Journal's Colchester said on a January 14 episode of The Journal's What's News podcast.
The unknown total value of Her Royal Highness' property makes it difficult to estimate her total net worth, according to The Journal. A royal finance expert did tell The Journal that the royal family members are "millionaires, not billionaires."
In 2016, The Sunday Times estimated the Queen's net worth to be $442.92 million (£340 million).
See the rest of the story at Business InsiderSee Also:The most expensive watches worn by the British royal familyMeghan Markle's former LA mansion is still looking for a buyer, and the asking price just dropped — here's a look insideRoger Federer may become the first billionaire in tennis this year. Here's how he became the highest-paid player in the world.SEE ALSO: How Meghan Markle and Prince Harry could earn enough money to become 'financially independent' of the crown — and why it likely won't include a return to the screen
DON'T MISS: Here's how much Australia's billionaires have donated to relief efforts for the wildfires that have destroyed 25 million acres of land and have killed at least 28 people
< Royal Family, Royalty, People, Culture, Celebrities, Money, Features, BI Select, Arts & Culture, Queen Elizabeth, Prince Charles, Prince WIlliam, Kate Middleton, Prince Harry, Prince Harry and Meghan Markle, Meghan Markle, Billionaire, Billionaires, The Queen, >
- Huffington Post UK 09:00January 16, 2020What Is A Credit Score? Plus 6 Common Myths, Busted
< Money, finance, Money & work, Credit, Credit Score, Credit Rating, Credit history, money, money-work, credit, credit-score, credit-rating, credit-history, LIFE, lifestyle >
- Huffington Post UK 03:01January 16, 2020How Much Income You'll Need To Spend On Rent Across The UK
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- Business Insider 20:27January 15, 20207 times you're better off spending than savingWillie B. Thomas/DigitalVision/Getty Saving money is important, but there are times when it's necessary to spend.
You shouldn't cut corners when it comes to spending money on things that improve your health, happiness, or financial situation.
Need help deciding where to spend and where to save? SmartAsset's free tool can help find a financial adviser near you » Money is a utility that, in its best form, is meant to improve our lives.
As such, there are a few times where a product, service, or experience is worth the additional cost (as long as you're not slipping into credit-card debt because of it).
For example, you're better off spending money on a life insurance policy to protect your family than not having one at all; paying a professional for help with your money if you're paralyzed by indecision; and yes, buying the latte if it's something you enjoy and it doesn't distract from your other goals.
Here are seven times you're better off spending than saving:1. To maintain good health
Mireya Acierto/Getty Images
Your health is priceless. Whether it's opting for a more expensive health insurance plan at work because the coverage is better, ponying up for an Equinox membership, or picking organic produce at the grocery store, you shouldn't feel guilty about spending money when your mental and physical health is on the line.
2. To protect your family with insurance
Layland Masuda/Getty Images
If anyone relies on you for financial support, life insurance and disability insurance are a must-have. In exchange for paying a monthly premium, a disability insurance policy will provide an income stream if can no longer work due to an injury or illness and a life insurance policy will pay out a lump sum if you pass away.
The average cost of a 20-year term life policy for a healthy 35-year old male runs from about $20 a month for $250,000 of coverage to $100 a month for $2 million of coverage, according to Policygenius. Long-term disability insurance premiums run anywhere from 1% to 3% of your salary.
Ask anyone with life or disability insurance and they'll tell you: It's a small price to pay for peace of mind and financial security.
3. To buy things that bring you joy or save you time
As long as you're cutting back on the things you don't care about, it's OK to spend money on the experiences, services, and products that bring you joy or make your life easier. If a daily latte, regular facials, a housekeeper, or first-class plane tickets enhance your life without distracting from your financial goals, spend away.
Being good with money is the ultimate balancing act between needs and wants. Depriving yourself isn't sustainable and rarely leads to success.
See the rest of the story at Business InsiderSee Also:Nearly a quarter of women out-earn their partner, but they still face many of the same workplace hurdles as their mothersMy free Credit Karma app helped my credit score spike by 50 points overnightThe first personal finance book I ever read completely changed the way I think about and manage my money
< Features, Spending Money, Spending vs saving, Savings, Life Insurance, Personal Finance Insider, More PFI Coverage, pfi, Policygenius, PFI SmartAdvisor, >
- Business Insider 20:22January 15, 2020I knew nothing about money when I graduated college, but a surprise $3,000 tax bill taught me 2 financial lessons I still live byKlaus Vedfelt/Getty Images As an intern in New York City in 2007, I was earning $13 an hour and living the dream. Until I got an unexpected $3,000 tax bill.
Taxes weren't being taken out of my paychecks, and I didn't know I should be setting aside money to pay the bill at the end of the year.
Luckily, my mentor helped me get on my feet and taught me two key lessons: First, that I actually love dealing with money (and I'm good at it). And second, most financial goals can be reached by saying them out loud and making a plan.
Read more personal finance coverage. In 2007 I was living what I considered to be the dream. I had scored a paid internship at a women's magazine in Manhattan, and had found an apartment in the city with two roommates I adored. One of my best friends from college was working in the same building, and another one was right across the street. Life was peachy.
What could possibly go wrong?See the rest of the story at Business InsiderNOW WATCH: How to find water when you're stuck in the desertSee Also:Ally vs. Marcus vs. Wealthfront: How 3 of the most popular high-yield savings accounts stack upYour state tax refund may take longer to hit your bank account than your federal refund — here's how to find out when it's comingSaving money before I need it means I can use it as an 'opportunity fund' to live my life to the fullest
< Budgeting, Internships, Money Lessons, Financial Literacy, Personal Finance Insider, More PFI Coverage, PFI Tools, PFI SmartAsset, >
- Business Insider 19:19January 15, 2020Ally vs. Marcus vs. Wealthfront: How 3 of the most popular high-yield savings accounts stack upFlamingo Images/Shutterstock High-yield savings accounts can help you earn up to 20 times more interest on money you need in the short term, while still keeping it safe and accessible.
Dozens of banks offer high-yield savings accounts, but we compared three of the most popular: Ally's online savings account, Goldman Sachs' Marcus account, and Wealthfront's cash account.
With no monthly service fees, competitive interest rates, and low or no minimum deposit to open, you really can't go wrong with any of these high-yield savings accounts.
It's important to remember that interest rates fluctuate. It's fine to choose the account with the highest rate today, but be sure it meets your other needs as well.
See Business Insider's picks for the best high-yield savings accounts » The Federal Reserve has cut interest rates three times since late July. As expected, many banks and financial institutions have dropped their rates in response, but it's still a great time to save money.
Whether you're building up an emergency fund or saving for a down payment on a house (or both), it's probably time to open up a high-yield savings account.See the rest of the story at Business InsiderNOW WATCH: 9 items to avoid buying at CostcoSee Also:A retired couple who travels full-time has 3 go-to strategies to make their savings last for yearsA full quarter of Americans have debt and aren't saving for retirement, but they still feel good about their moneyI've only had my high-yield cash account for 4 months, but I've already earned over $111 in interest
< High-Yield Savings, Savings Account, Ally vs. Marcus vs. Wealthfront, Ally, Wealthfront, Personal Finance Insider, PFI Tools, PFI-XAMP, PFI SmartAsset, PFI Bankrate, Your Money Saving, Marcus, pfi, Shayanne Gal, PFI More Savings Coverage, IP Graphics, >
- Business Insider 17:00January 15, 2020I went from earning $28,000 a year to running my own profitable business — here's how I shifted my money mindsetLStockStudio/Shutterstock Tara McMullin is the creator of Quiet Power StrategyTM and the host of the podcast What Works.
After she was turned down from a raise just days before giving birth, she decided she want to quit her job
Today, she owns a business training company and has self-published four books. Her company makes over 17x what she used to make in a year working at the bookstore.
Visit Business Insider's homepage for more stories. I told myself, "If other women can figure out how to make money working from home, then surely I can, too."
It was the summer of 2008. Two days before this realization, I received a phone call that made my blood boil. Just days before giving birth to a tiny baby girl, I was told someone else got the promotion and raise at the bookstore I'd managed for five years.See the rest of the story at Business InsiderNOW WATCH: Taylor Swift is the world's highest-paid celebrity. Here's how she makes and spends her $360 million.See Also:Conflict isn't always a bad thing. 3 Kellogg professors discuss when it can be harnessed for good — and when it's actually a problem.Google's career experts say that your resume should always have 5 things5 things you should do to live longer, according to new Harvard researchSEE ALSO: Here's how to set financial goals for the new decade
< HerMoney, Business, Self-Employed, Entrepreneurship, Freelance, Money Advice, Money and Kids, Contributor, contributor 2019, >
- Huffington Post UK 10:00January 15, 2020What Happens To Your Brain And Body When You're Stressed About Money
< Health, Mental Health, Money, Debt, Financial distress, Chronic stress, health, mental-health, money, debt, financial-distress, chronic-stress, LIFE, lifestyle >
- Business Insider 21:30January 14, 2020Saving money before I need it means I can use it as an 'opportunity fund' to live my life to the fullestCarlina Teteris/Getty Images After overspending during a trip to Europe, I came home and my income took a severe hit. Then, my car's transmission died. All of this happened right before the holidays kicked into full gear.
In total, I had to spend $8,000 from my emergency fund. Thankfully, I'd built it up to a generous $30,000, so I could pull from it without stressing too much.
I learned that a big emergency fund does more for me than cover emergencies. It allows me to live my life to the fullest.
Read more personal finance coverage. I spent years paying off credit card debt, so I built my emergency fund a little late in the game. However, once I was debt-free, I funneled as much money as I could each month into a high-yield savings account that would act as my emergency fund.
On average, I transferred $3,000 each month into my savings until I had a balance of $30,000. As a freelancer with an unstable income, and as someone living abroad and far from any relatives, having a generous emergency fund is even more important. See the rest of the story at Business InsiderNOW WATCH: Apple forever changed the biggest tech event of the year by not showing upSee Also:4 ways to spend $100 today to be richer by this time next yearMy smart idea to make $400 a month as a landlord ending up costing me instead. Here's what I wish I'd known before I rented out my house.The 7 types of accounts you need to accelerate your wealth, according to a financial adviser
< emergency fund, Saving, saving money, Savings, High-Yield Savings, Savings accounts, Personal Finance Insider, PFI Tools, PFI-XAMP, >
- Business Insider 19:06January 14, 2020What it's like to travel on Flybe, the budget airline used by the royals that's fighting to stay in businessimrankhan1504 via Shutterstock and Scott 05 / Flight-Report Budget airline Flybe is on the brink of bankruptcy, outlets such as Sky News are reporting, though the airline said in a statement on Sunday that "we don't comment on rumor or speculation."
It is the largest regional airline in the UK, handling about 40% of domestic traffic.
The airline appears to be a favorite of the royals, too — Kate Middleton, Prince William, and their children flew on Flybe in August.
Users of the airline review website Flight-Report have praised it for being affordable, and also for good service.
However, reviews on TripAdvisor say entertainment and food options are limited. Flybe's bag policy has also been slammed on sites such as Trustpilot and Skytrax.
Here's what it's really like to travel with Flybe.
Visit Insider's homepage for more stories. British budget airline Flybe is on the verge of collapse, multiple outlets including Sky News are reporting, with the UK government considering reducing air passenger duty (APD) in order to save it.
Flybe employs around 2,000 people, and is Britain's largest regional airline, operating 189 routes across 12 countries in the UK and Europe.
It's known for its stringent bag policy, short flights (it has an average flight time of 55 minutes), and purple lights.
The royals also appear to be fans of the airline — in August 2019, Kate Middleton, her husband Prince William, and their children flew on Flybe from Norwich in England to the Scottish city of Aberdeen for around $89 each.
Despite the reports, Flybe has denied it's in trouble, saying in a statement on Monday: "Flybe continues to focus on providing great service and connectivity for our customers, to ensure that they can continue to travel as planned. We don't comment on rumor or speculation."
Using information from bloggers and websites including Flight-Report, TripAdvisor, Trustpilot, and Skytrax, Insider took a look at what it's really like to fly on the budget airline.Flybe operates numerous routes throughout the UK and Europe.
According to Flybe's website, the airline currently flies to more than 80 airports throughout Europe, with an emphasis on destinations in the United Kingdom.
It also handles almost 40% of domestic UK air traffic.
Geography Photos / Universal Images Group via Getty Images
Flybe's website says the airline flew about eight million passengers in 2019. It also reports that the airline offers 189 routes across 12 countries, making it the largest regional airline in Europe.
The bulk of its fleet is made up of Bombardier Q400 Dash 8 planes, which seat 78 people.
According to the aviation blog Planespotters, there are currently 71 planes in Flybe's fleet. Most of those (54) are twin-propelled Bombardier Q400 Dash 8s.
Flybe also used to fly Boeing 737-300s, according to Planespotters, but stopped using them in 2006.
See the rest of the story at Business InsiderSee Also:A pilot made history by becoming the first HIV positive person to fly a commercial plane after challenging a discriminatory banPrince Harry and Prince William made a rare joint statement denying that the Duke and Duchess of Sussex were 'bullied' out of the royal familyPrince Harry and Meghan Markle are at war with the media — and their split from the Royal family shows they are fighting to win
< Features, Lifestyle UK, Flybe, Airline, Business, Money, Travel, kate middleton, Prince William, royals, UK, Britain, Europe, Bankruptcy, Aviation, Transportation, Richard Branson, Virgin, Virgin Atlantic, >
- Business Insider 23:34January 13, 2020The best and worst states to retire in the USHanneke Luijting/Getty Images When deciding the best place to retire, it's important to consider affordability, quality of life, and health care.
Minnesota is the best for quality of life and healthcare but has low affordability for retirees.
Florida is the best state for retirees, not surprising considering it has the second-most senior citizens and high scores for affordability and quality of life. Visit Business Insider's homepage for more stories. On a global scale, the United States is 24th on the list of the best countries for retirement.
However, the US is very large and experiences can vary drastically within the country.
If you decide to stay in America when you are done working, you might want to know which state is best for retirement. WalletHub recently released its 2020 retirement rankings. Using 47 metrics in three broad categories, they were able to rank every state to find the best and worst places to retire.
The three main categories used were affordability, quality of life, and health care. WalletHub weighted the affordability section 40% and the other two areas were given equal weight of 30%.
Florida tends to be the first state that comes to mind when retirement communities are brought up, and for good reason. Florida came in first in the overall ranking. The Sunshine State also has the second-highest percentage of residents 65 years and older, WalletHub says, topped only by Maine.
Where you decide to live during retirement depends on what you value. Residents of Hawaii have the highest life expectancy, while the lowest is found in Mississippi. On the other hand, the cost of living is totally flipped with Mississippi coming in first and Hawaii ranked last.
If you are looking to be entertained in retirement, New York might be a good option. Despite the state's lackluster overall rating for retirement, WalletHub's analysis found that the Empire State has the most museums and theaters per capita.
Check out how your home state ranks overall, as well as for each of the three categories: affordability, quality of life, and health care.
Matthew Michaels contributed to a previous version of this article.50. Kentucky
Affordability rank: 32
Quality of life rank: 46
Health care rank: 48
49. New Mexico
Affordability rank: 37
Quality of life rank: 45
Health care rank: 38
48. Rhode Island
Affordability rank: 47
Quality of life rank: 38
Health care rank: 25
See the rest of the story at Business InsiderSee Also:The Amex Platinum card gets you access to the Fine Hotels & Resorts program for luxury hotel benefits — after a stay in Paris, I think it's worth the hype4 signs you're spending your retirement money too quicklySome Americans are ditching their mortgage to rent in retirement, and it shows how their lifestyles — and finances — are changingSEE ALSO: The cheapest states to get gas, ranked
< Features, Retirement, States, Wallethub, Affordability, Quality Of Life, Health Care, Your Money Saving, Best Places, Longform Value, >
- Business Insider 21:54January 13, 2020Turning 30 convinced me to make 3 smart financial moves I'd been avoiding for years, and I'd tell anyone to do the sameCourtesy of Elizabeth Aldrich I never wanted to have kids or buy a house, so I didn't worry about my finances in my 20s.
As I got closer to my 30s, though, I realized that money could buy me the nontraditional life I wanted.
I set a goal to pay off debt and build an emergency fund by 30 and achieved it. In my 30th year, I started investing.
A financial planner can help you reach your money goals, no matter what they are. Use SmartAsset's free tool to find a qualified professional today » They say it's important to set financial goals for the future, but it's hard to plan for a future you can't imagine.
For most of my life, I had no clear picture of what adulthood would look like for me. I didn't want kids, actively opposed marriage, and wasn't interested in buying a home. See the rest of the story at Business InsiderNOW WATCH: 5 facts about the animal kingdom that Golden Globe-nominated 'The Lion King' ignoredSee Also:4 ways to spend $100 today to be richer by this time next yearHow to recession-proof your retirement plans, according to retirees who made it through the Great RecessionThe 7 types of accounts you need to accelerate your wealth, according to a financial adviser
< High-Yield Savings, saving money, Investing, Emergency Funds, Personal Finance Insider, PFI SmartAdvisor, PFI SmartAsset, More PFI Coverage, >
- New York Magazine 15:30January 13, 2020Bloomberg and Steyer Reveal That Billionaires Are Underinvesting In PoliticsBillionaires can afford to spend far more on politics than they have been. Bloomberg and Steyer are showing them that democracy is a bargain.
< campaign finance, vision 2020, politics, democracy, democratic primaries, michael bloomberg, tom steyer, money >
- The Guardian(UK) 12:28January 13, 2020Flybe 'in rescue talks to stave off collapse'Europe’s largest regional airline seeks financing after rising losses, report saysFlybe, Europe’s largest regional airline, is scrambling to stave off a collapse that would put 2,000 jobs at risk.The airline operates more UK domestic flights than any other, and is in talks over potential emergency financing after suffering rising losses, Sky News reported. Continue reading...
< Airline industry, Business, Flights, Travel, Money, UK news >
- The Guardian(UK) 11:00January 13, 2020Flybe 'in rescue talks' with UK government – business liveRolling coverage of the latest economic and financial newsIntroduction: Flybe in financing talks with UK governmentAirline reportedly needs fresh funding 8.00am GMT Good news: Flybe appears to be operating as normal today.Its live arrivals and departures screen shows that some flights have taken off from across Europe today, with other services scheduled for later. 7.51am GMT The UK government won’t reveal details of its talks with Flybe. A Department for Transport spokesperson says only that:“We do not comment on speculation or the financial affairs of private companies.” Continue reading...
< Business, Airline industry, UK news, Travel insurance, Money >
- Huffington Post UK 03:01January 13, 2020These Stats About Women In Top Jobs Are Shocking. We Can't Ignore Them.
< Women, Money, work, discrimination, Fawcett Society, women, money, work, fawcett-society, LIFE, lifestyle >
- Guardian 10:00January 12, 2020By air or sea, your untouched mobile can automatically rack up a £1,000-plus billEven if travellers’ phones are in baggage and not used, they can link to a satellite network on premium ratesGay Haines had stowed her mobile phone in her hand baggage before her flight to Barbados and forgot to set it to flight mode. The mistake cost her dear. On arrival, she discovered that she had racked up charges of £1,095, twice the price of the transatlantic fare. “I had not used it to make or receive calls and when I opened it after landing there was no mention of any charges,” she says.Haines is one of dozens of air and sea passengers who have received shock bills after their phones connected automatically to a satellite roaming network. While EU rules cap roaming fees outside Europe at €50, the legislation does not apply to satellite networks on planes and boats, which charge premium rates for data, wanted or not, unless customers actively switch off data roaming. Continue reading...
< Mobile phones, O2, Consumer affairs, Consumer rights, Telecoms, Technology, Money, Vodafone, 3 >
- Business Insider 17:45January 11, 2020The 7 types of accounts you need to accelerate your wealth, according to a financial adviserCourtesy Jeff Rose If you've got all or most of your money in a single investment account, you're missing serious opportunities to build wealth.
One of the biggest wealth secrets is to earn money on your money, whether it's in checking, savings, or being put aside for retirement.
It's a good idea to designate specific accounts for specific purposes, like paying your taxes (especially if you're self-employed) and investing in yourself.
SmartAsset's free tool can help find a financial adviser to create your own wealth-building plan » If you're serious about building wealth, there are seven types of accounts you need to have to make it happen. Don't worry if you don't have them right now – that's the whole point of this article. I didn't have them either when I began my wealth-building journey, but I added them as I moved forward. You can do the same.
And once you have them up and running, you're going to see your wealth begin to grow faster than you ever imagined. It's all about creating the right mix of accounts.See the rest of the story at Business InsiderNOW WATCH: Are you superstitious on days like Friday the 13th? These are the origins of 7 common superstitions, like why we knock on wood.See Also:I'm investing in the stock market while paying off $80,000 of debt, and it's finally convinced me I can be good with moneyI used to be terrified of the IRS, until a surprise bill for $1,200 cured me of my fearAmericans say 3 roadblocks stand in the way of saving enough for retirement
< Bank accounts, Building wealth, High-Yield Savings, High-yield checking account, saving money, Personal Finance Insider, pfi, PFI SmartAsset, PFI-XAMP, PFI SmartAdvisor, >
- Business Insider 15:32January 11, 2020RANKED: The 21 cheapest holiday destinations in the world for 2020FredP/Shutterstock Post Office Travel Money's annual Holiday Money report has been released, and it shows how far your money could go depending on where you travel this year.
Based on data from national and regional tourist boards and specialist tour operators, the report's Worldwide Holiday Costs Barometer compares the price of eight typical tourist staples from 42 cities and destinations worldwide.
The ranking then calculates a total cost for each destination to figure out which is the cheapest for a holiday.
From Mauritius to Sri Lanka, Insider has rounded up 21 of the cheapest places to visit in 2020, ranked in ascending order.
Visit Insider's homepage for more details.
21. Grand Baie, Mauritius — $120.01
Cup of filter coffee at a café/bar: $2.65
Bottle of local beer at a café/bar: $4.57
Bottle/can of Coca-Cola/Pepsi at a café/bar: $2.65
Glass of wine (175ml) at a café/bar: $5.15
1.5l bottle of mineral water at a supermarket: $0.77
Suncream at a supermarket: $19.12
Insect repellent (50ml) at a supermarket: $4.12
Three-course evening meal for two (including bottle of house wine): $80.98
20. Nice, France — $116.51
Cup of filter coffee at a café/bar: $1.70
Bottle of local beer at a café/bar: $4.53
Bottle/can of Coca-Cola/Pepsi at a café/bar: $2.83
Glass of wine (175ml) at a café/bar: $5.09
1.5l bottle of mineral water at a supermarket: $0.56
Suncream at a supermarket: $14.70
Insect repellent (50ml) at a supermarket: $9.05
Three-course evening meal for two (including bottle of house wine): $78.05
19. Cancun, Mexico — $109.17
Cup of filter coffee at a café/bar: $2.22
Bottle of local beer at a café/bar: $1.94
Bottle/can of Coca-Cola/Pepsi at a café/bar: $1.67
Glass of wine (175ml) at a café/bar: $6.10
1.5l bottle of mineral water at a supermarket: $1.16
Suncream at a supermarket: $16.66
Insect repellent (50ml) at a supermarket: $8.34
Three-course evening meal for two (including bottle of house wine): $71.08
See the rest of the story at Business InsiderSee Also:The 10 most popular places for solo travelers in 202020 stunning photos of places in the US you didn't know existedAn unassuming street stall has been serving Berlin's most popular doner kebab since 2006
< Features, Lifestyle UK, Travel, holiday, 2020 travel, Cheapest Holidays, Post Office Travel Money, >
- Business Insider 01:13January 11, 2020Here's what kids' dream houses would look like in real life — and how much they'd costBankrate If you asked your kid to design their dream house, you'd probably end up with a pretty out-there design.
Bankrate UK asked seven children aged 4 to 10 years old to draw what their dream house would look like.
The drawings were then converted into 3D renderings and valued by Andrews, a property consultant firm, given the current market.
From rainbow slides to chocolate swimming pools, these dream houses truly show the amazingly imaginative minds of these kids.
Visit Insider's homepage for more stories. If you gave your child free rein to design your house, with absolutely no budget, you might end up with a chocolate swimming pool.
Bankrate UK asked children aged 4 to 10 years old to draw what their dream house would look like, with the sky as the limit.
Bankrate then turned the drawings into 3D designs and asked Andrews, a property consultant firm, to value each fantastical home given the current market.
Here are 24 photos that show kids' incredibly imaginative minds, and how their dream houses would actually look — and what they'd cost — in real life.Alya and Zack's drawing of their dream "Unicorn House" is undeniably adorable.
The magical, out-of-this-world mansion features five bedrooms and four bathrooms, an escalator within the tail of the unicorn, solar panels, a rainbow slide, and a large pool with a diving board and a swing.
Here's what the unicorn-themed house would look like in real life.
Alya's bedroom comes with its own private kitchen, bathroom, living area, dining area, and a toy room stocked with her favorite dolls and more. The dream house also comes with an epic go-karting track, a soft play center, and a movie theater.
In real life, this home would be mega expensive.
"The mixture of the clean lines of the pool and grounds with the playful exterior of the home is sure to bring a smile to anyone coming home after a long day at work," said the evaluator from Andrews. "With solar panels powering the home, this will add to the property's appeal. I would suggest we take the property to the market at a guide of $7.2 million and set a minimum marketing period so that overseas investors get the opportunity to view and bid."
See the rest of the story at Business InsiderSee Also:Breathtaking photos of the world's largest snow and ice festival will make you want to travel to ChinaA photographer edits Google Earth photos to showcase some of the world's lesser-known destinations without even leaving his house7 things you should never say to a Native American
< Features, Kids, Kids and Money, Kid's Room, >
- Business Insider 18:19January 10, 2020The world's biggest currency exchange company was hacked, and the data is reportedly being held hostage for $6 million Travelex, the world's largest currency exchange, was hacked — and the hackers are holding the company's data ransom for $6 million.
The company's exchange services have been offline since the hack was detected on December 31, 2019.
Travelex said it doesn't have "a complete picture of all the data" that was taken, but is currently investigating. The hackers, speaking to the BBC, said they took 5 GBs of "valuable customer data."
Visit Business Insider's homepage for more stories. The world's largest foreign currency exchange, Travelex, is offline.
It's been offline for nearly two weeks, since December 31, 2019, when the company discovered a breach by hackers. See the rest of the story at Business InsiderNOW WATCH: Most maps of Louisiana aren't entirely right. Here's what the state really looks like.See Also:A police department collected 65,000 face scans — but the system hasn't been connected to a single arrestNobel laureate Paul Krugman said he likely fell for a phishing scam. Here's how phishing scams work and how to avoid them.Lawmakers hammered a Facebook VP over misinformation on its platform and loopholes in its ban on deepfakesSEE ALSO: A group claiming to be from Iran hacked and defaced a US government agency website, posting an image of Trump being punched in the face
< Travelex, foreign currency, Currency Exchange, Finablr, Money, Hacking, Hackers, Cybersecurity, Security, Cyberattack, Ransom, Ransomware, Tech, >
- Coindesk 12:00January 10, 2020European Crypto Firms Brace for Higher Costs as AMLD5 Takes EffectA strict new regulatory regime is dawning upon European firms handling cryptocurrency. Here’s what AMLD5 will mean for the industry.
< Policy & regulation, Regulation, European Commission, Anti-Money Laundering, AMLD5 >
- Huffington Post UK 09:00January 10, 2020Try These 3 'Fakeaway' Recipes And Save Money On Takeaways
< Food, Food and Drink, Money, Recipes, cooking, Food and Cooking, food, food-and-drink, money, recipes, food-and-cooking, LIFE, lifestyle >
- Business Insider 20:51January 9, 2020I loved life as a trophy wife until I realized what I was giving up. I made the terrifying choice to blow up my marriage — and it was worth it.Courtesy of Shannon Page Shannon Page is an author and full-time freelancer. But before all of that, she was, in her words, a 'trophy wife.'
When she was in her early 20s, she met and married a wealthy man 17 years older than her. She loved the stability and feeling of maturity that came with her marriage. She was able to leave her abusive job and travel luxuriously.
But once she entered her 30s, she reconnected with her love of writing, and became more engaged in work. She became increasingly resentful of her marriage.
Then, in her 40s, she blew up her marriage 'spectacularly' and started over. In doing so, she became her own trophy.
Visit Business Insider's homepage for more stories. It was a joke. The kind of joke that's actually true, but you laugh about it in the hopes of deflecting that truth. A thing you bring up first, before anyone else can. "Haha, she's my trophy wife! Aren't we funny!"
I was in my early 20s when we met; he was already over 40, 17 years older than me. And 17 gazillion times wealthier. He had a nice house and a lucrative business partnership and a 401(k) and an Audi. I had student loans and a toaster oven and two cats.See the rest of the story at Business InsiderNOW WATCH: Taylor Swift is the world's highest-paid celebrity. Here's how she makes and spends her $360 million.See Also:Forget setting goals — here's why you should set a one-word theme for 2020What 8 different types of arguments can tell you about your relationship, according to researchers19 tiny habits that can have a big impact on your personal happinessSEE ALSO: I'm a working mom who never had a moment with her own thoughts. Digital minimalism helped — and it started with the simplest trick imaginable.
< contributor 2019, Medium, Contributor, Trophy wife, Relationships, Marriage, Love, Money, >
- Huffington Post UK 09:00January 9, 2020How To Change Careers: Four Women On The Relief Of Switching Jobs
< Women, work, Careers, Money & work, career change, job, women, work, careers, money-work, career-change, LIFE, lifestyle >
- The Guardian(UK) 09:00January 9, 2020'Return the dividend': Woodford investors blast £13.8m windfallAnger over news stock-picker and business partner shared sum in run-up to fund collapseInvestors trapped in Neil Woodford’s main fund, which collapsed last year, have expressed their dismay that the former star stock-picker and his business partner, Craig Newman, took home £13.8m in dividends from their investment management company last year.“It’s absolutely despicable but not a surprise,” said IT Consultant Ian Flaherty, awaiting the outcome of the administration process to see how much of his £10,000 savings held in the fund has been lost. Continue reading...
< Neil Woodford, Business, Financial sector, Investments, Money >
- Petapixel 21:27January 8, 2020This Browser Extension Shows if Books on Amazon Are at Your Local LibraryWant to learn photography from some good ol’ physical books? Before clicking the Checkout button on Amazon, you might want to check out the handy browser extension called Library Extension. It adds a box to Amazon book listings to show you if that book is available for free at your local library. The extension is […]
< News, Software, amazon, books, browserextension, chromeextension, extension, firefoxextension, library, libraryextension, savemoney, thrifty, tool >
- Business Insider 13:45January 8, 2020David Dobrik flew to Las Vegas to put $20,000 of his friend's money on black and won for 'like the fifth or sixth' time in a rowDavid Dobrik / YouTube YouTuber David Dobrik and the Vlog Squad flew to Las Vegas to bet $20,000 on black — and won.
In Dobrik's latest vlog, he talked to his friend Jeff Wittek about him wanting to bet money on one color, and Wittek asked him how long his winning streak was.
"Myself?" Dobrik asked. "I haven't lost."
"Let's go have a little fun," Wittek said and agreed to front up $20,000 of his own money. "I don't want to f--- up your lucky streak because it's insane ... It's got to come to an end."
Sure enough, they bet on black and Wittek doubled his money.
At the end of the video, Wittek asked Dobrik how many times he'd won at roulette in a row.
"Like five or six," Dobrik said.
"That's insane, I'm just so happy to finally be a part of it," Wittek replied.
Watch the full video below.
Visit Insider's homepage for more stories. Youtube Embed: //www.youtube.com/embed/nCETC33hBRo Width: 560px Height: 315px
20 YouTube channels you should really subscribe to in 2020See the rest of the story at Business InsiderNOW WATCH: 9 items to avoid buying at CostcoSee Also:Harry and Meghan's photo of baby Archie wearing an adorable bobble hat sent a New Zealand charity's sales into overdriveThe 5 best pieces of gym etiquette advice that fitness aficionados want newbies to knowA timeline of Jake Paul and Tana Mongeau's whirlwind open marriage from beginning to end, which Tana said went downhill after the wedding night
< David Dobrik, Las Vegas, Money, Betting, Gambling, Lifestyle UK, >
- Huffington Post UK 13:15January 8, 2020The 12 Biggest Work Email Faux Pas, From Kisses At The End To Excessive Exclamation Marks
< work, Careers, email, Money & work, work, careers, money-work, LIFE, lifestyle >
- Business Insider 17:25January 7, 2020Here's exactly what millennials should be doing every five years to become rich, according to a financial plannerChristian Vierig/Getty Images Becoming a rich millennial isn't impossible.
A financial planner shared the key steps people should take at milestone millennial ages — 25, 30, 35, and 40 — to build wealth.
Millennials should be all about financial goals: identifying and prioritizing them, carrying out both short-term and long-term goals, and reassessing them as they enter a different life stage.
Visit BusinessInsider.com for more stories. There's really no one way to define "rich" — everyone measures wealth in different ways.
"I know many people who make less than $50,000 but consider themselves wealthy because of their health, family, and friends," Douglas A. Boneparth, CFP and president of Bone Fide Wealth, which offers financial planning and advice to high-net-worth millennials, told Business Insider.See the rest of the story at Business InsiderNOW WATCH: From Cyber Monday deals to Prime-only steals, this is how Amazon gets you to spend more moneySee Also:The term 'millennial' has become so controversial that an expert says many millennials actually don't identify with itMillennials are having kids later than any other generation, and it might be putting mothers at greater risk of depression. Here's what experts say every mother should know about the potential risks.There are 2 types of American millennials, says an expert who studies the generation — and the difference between them is not based on their ageSEE ALSO: 7 ways rich millennials spend and display their money differently than rich baby boomers
DON'T MISS: Rich millennials are creating new trends and status symbols — here are 7 ways they're redefining what luxury looks like
< Rich millennials, Millennials, Building wealth, Arts & Culture, Money Advice, BI Select, Personal Finance Insider, PFI Tools, PFI-XAMP, PFI SmartAsset, PFI GOBankingRates, >
- Business Insider 00:01January 7, 2020This is how the 5 youngest billionaires in America spend their time and moneyJamie McCarthy/Getty Images The five youngest billionaires in America have a combined net worth of $28.5 billion, according to the Forbes Real-Time Billionaires Index.
Of those five, the youngest is 22-year-old reality star and makeup mogul Kylie Jenner, whose $1 billion fortune primarily stems from her company Kylie Cosmetics.
Second in line is Snapchat cofounder Evan Spiegel, who, at 29, has a net worth of $3.6 billion.
While Jenner spends her time collecting luxury cars and splurging on purchases for daughter Stormi Webster, Spiegel has opted for a more private life with wife Miranda Kerr and their kids.
Visit Business Insider's homepage for more stories. The five youngest billionaires in America have a combined net worth of $28.5 billion.
Kylie Jenner, the youngest billionaire in the world, spends much of her fortune on new homes, customizing luxury cars, and vacations with her baby daughter, Stormi Webster. Jenner is particularly known for flaunting her wealth on social media, as she did after chartering a $200 million superyacht for her 22nd birthday celebrations.
Behind Jenner, there is Snapchat cofounder Evan Spiegel, who, at 29, is also one of the world's youngest billionaires. Spiegel has taken a more private approach to how he spends his time and money, especially since marrying model Miranda Kerr in 2017.
Spiegel and Kerr reportedly live together in a $12.5 million home in Brentwood, California, and also have an ocean-front Malibu cottage worth nearly $2 million.
Here's how Jenner, Spiegel, and America's other youngest billionaires spend their time and money.Kylie Jenner, the world's youngest billionaire at 22, has a net worth of $1 billion. She spends much of her fortune on luxury cars, vacations with her daughter, Stormi Webster, and accessories like handbags.
Karwai Tang/Getty Images
Source: Forbes, Business Insider, Business Insider
Her car collection alone is reportedly worth millions.
Erik Voake/Getty Images for Adidas
Source: Instagram, Business Insider
According to E! News, the 22-year-old at one time owned four homes, including three in Hidden Hills, California.
Ari Perilstein/Getty Images
Instagram Embed: //instagram.com/p/BzjMmcYn3W2/embed Width: 540px
Source: E! Online, Instagram
See the rest of the story at Business InsiderSee Also:Meet secretive Nutella billionaire Giovanni Ferrero, who built a $32 billion fortune off Tic Tacs, Butterfingers, and his namesake chocolatesMark Zuckerberg was just spotted shopping at Costco. Look inside the lives of surprisingly frugal millionaires and billionaires, from businessmen like Warren Buffett to A-list celebs like Jennifer Lawrence.A day in the life of the top real-estate broker in the US, who sold $2.2 billion worth of homes in 2018, wakes up at 5 a.m. every day, and works out with a personal trainer 3 times a weekSEE ALSO: The 15 richest women in America, ranked
DON'T MISS: Meet the 15 youngest, richest American billionaires
< Arts & Culture, Money, Wealth, Billionaire, Rich, Tech, Fashion, Retail, Features, Kylie Jenner, Evan Spiegel, Bobby Murphy, Santo Domingo, Lukas Walton, Walton Family, Walmart, Snapchat, BI Select, >
- Business Insider 13:52January 6, 2020YouTuber Tana Mongeau randomly sent $7,500 to followers who retweeted herJean Baptiste Lacroix / Getty Images Tana Mongeau said she would send her Twitter followers "a random amount of money" if they followed and retweeted her.
"rt this and follow me and i'll cash app u a random amount of money rn," she tweeted at about 11 p.m. (PST) Sunday night.
She sent about $7,500 overall, according to a screenshot, to fans who needed food, help with bills, and doctor's appointments.
Mongeau recently announced a break with her husband Jake Paul.
Visit Insider's homepage for more stories. YouTuber Tana Mongeau was clearly in a generous mood when she told her followers she would send them "a random amount of money" if they followed and retweeted her.
"rt this and follow me and i'll cash app u a random amount of money rn," she tweeted at about 11 p.m. LA time on Sunday night.See the rest of the story at Business InsiderNOW WATCH: I tried cooking an entire Thanksgiving dinner using Google Home Hub and found there are 2 major flaws with itSee Also:YouTubers Tana Mongeau and Jake Paul have called it quits after almost a year of petty drama and a wedding that was 'for fun and for content'Hackers used Mariah Carey's Twitter account to post racist slurs, to troll Eminem, and share a string of gibberishFloyd Mayweather made $500,000 for every punch he landed in the last decade, and he landed a lot of punches
< Tana Mongeau, YouTubers, Influencers, Money, Giveaway, Lifestyle UK, >
- The Guardian(UK) 03:01January 6, 2020Top FTSE bosses paid typical worker's annual salary in just 33 hoursHigh Pay Centre figures should be ‘source of national shame’, say unionsSenior executives in the UK’s top 100 companies took just 33 hours to be paid more than the typical worker’s annual salary, according to data that unions say should be a “source of national shame”.Figures released by the High Pay Centre thinktank showed that the typical FTSE 100 chief executive is paid 117 times more than the median worker, at £901.30 an hour or £3.46m a year. Continue reading...
< Executive pay and bonuses, Business, Pay, Money, Work & careers >
- Business Insider 18:45January 4, 2020I opened a high-yield savings account with Ally, and loved the high interest and low fees so much I quickly opened anotherJelena Jovanovic / EyeEm / Getty Images Ally Bank offers consistently above-average interest rates on its saving accounts, along with no minimum balance and no recurring fees.
You can open more than one savings account at Ally, which is great for planning for goals and long-term savings needs. I opened two: one for my emergency fund, and another for my property taxes.
I even told my sister to open one, and she called me the next month, thrilled to see the interest deposited in her account.
See Business Insider's picks for the best high-yield savings accounts » For most of my savings and investments, I'm a big fan of keeping things simple. Fewer accounts means less to monitor, less to worry about, and less to check up on during financial reviews. The one place where I add extra accounts on purpose is savings.
I have a few different savings accounts for different goals, like an emergency fund and saving for property taxes and insurance. I decided the best place for my multiple accounts was Ally, the online bank known for its high-yield savings. Here's why.See the rest of the story at Business InsiderNOW WATCH: A 45-year-long study discovered trends in successful hyper-intelligent childrenSee Also:How to get a tax ID number if you're self-employed or have a small businessI was a bridal editor for years, so I used every trick in the book to keep my budget under $10,000 when I got married in 2019A successful couple who spent decades building their careers agonized over retiring for 2 years before they found the right time
< High-Yield Savings, Ally Bank, saving money, Personal Finance Insider, PFI More Savings Coverage, PFI-XAMP, PFI Tools, PFI GOBankingRates, >
- Business Insider 13:46January 4, 2020The euro has been around for 21 years — here are the 12 currencies it replacedOwen Franken/Corbis /Julian Stratenschulte/picture alliance/Business Insider For millions of Europeans, this week marked the 18th anniversary of when they started to use the euro.
The euro was introduced in 12 countries as coins and bank notes on January 1 2002, replacing what were in some cases centuries-old currencies. It's now the second most-used currency worldwide.
Those countries had a long time to prepare. A three-year transition period began in 1999 that allowed the euros to be used for online payments, meaning the euro has now been around for 21 years.
People queued at cash machines to get their hands on the new money at midnight, in what the EU calls "biggest cash changeover in history." Seven more countries have joined the eurozone since its introduction.
Visit Business Insider's homepage for more stories. The euro, the common currency that links 19 countries, has now been around for 21 years.
The euro first replaced 12 national currencies when it was introduced as coins and banknotes on January 1 2002. The what the european Union describes it as the "biggest cash changeover in history."
But the currency was actually first introduced in 1999, when it was used for things like online payments, giving millions of people time to prepare.
Its introduction had been a goal for many European countries for decades. Now, around 341 million people use it every day, according to the EU, this makes it "the second most-used currency worldwide."
Not every one of the 28 countries in the EU uses the euro. The UK, for example, continues to use its pound. The countries that use the currency are collectively called the Eurozone — and other countries outside the EU, like the Vatican, also use it, while other EU countries are looking to adopt it.
Here are the currencies the euro it replaced when it was first introduced:Germany: The Mark
Manfred Rehm/picture alliance via Getty Images
The German Mark was seen as one of the world's most stable currencies when it was in circulation, and it played a role in the reunification of the country after WWII.
Around 1.96 Marks was worth one euro.
It ceased to be accepted immediately after the euro was adopted. This contrasted with most European countries, where there was a period where people could pay with both the old currency and the euro.
People across Europe queued at banks in 2002 to get the new money, and the old was destroyed by central banks. Many old currencies can still be exchanged for Euros.
The Netherlands: The Guilder
One euro was worth around 2.2 Guilders. The notes were considered some of the world's most beautiful.
Italy: The Lira
REUTERS/Tony Gentile AMP
One euro was more than 1,900 Lire.
See the rest of the story at Business InsiderSee Also:SoftBank is all over the biggest real-estate tech funding rounds of 2019Insiders say these are the 10 most transformative M&A deals of the decade10 massive New Year's Eve parties that are worth traveling for
< Europe, europe economy, Euro, Money, Ireland, Spain, France, Germany, The Netherlands, Features, Currencies, Currency, Eurozone, >
- Huffington Post UK 14:39January 3, 2020A #MeToo Bot For Detecting Sexual Harassment At Work Is Not A Solution
< Women, work, Sexual Harassment, artificial intelligence, me too, Money & work, women, work, sexual-harassment, artificial-intelligence, me-too, money-work, LIFE, lifestyle >
- Mashable 13:00January 3, 2020Get your finances in order with the 2020 QuickBooks Pro master classTL;DR: The helpful 2020 QuickBooks Pro Mastery Bundle is on sale for $29.99, a 93% savings. Hit it a bit too hard this holiday season? Have the gifts, parties, and dreaded Secret Santas hurt your wallet? Does the number in your bank account now fall somewhere between your shoe size and your age?
Well fear not! 2020 is a new year, and nothing screams new year like finally getting your finances in order. Especially when you'll be legally compelled to do so by the IRS in four months' time.
For those who really need help with this task — we're looking at the freelancers, self-employed, and small business owners among us — there are accounting services like QuickBooks. However, these can often be confusing and tricky to use, knocking you back into a life of financial degeneracy. This doesn't mean you should give up on them, though. After all, this is your money we're talking about. Read more...More about Money, Online Learning, Mashable Shopping, Quickbooks, and Tech
< Money, Online Learning, Mashable Shopping, Quickbooks, Tech >
- The Guardian 10:00January 3, 2020Rise of #MeTooBots: scientists develop AI to detect harassment in emailsCity firms experimenting with tech that flags harassment but critics question effectivenessArtificial intelligence programmers are developing bots that can identify digital bullying and sexual harassment.Known as “#MeTooBots” after the high-profile movement that arose after allegations against the Hollywood producer Harvey Weinstein, the bots can monitor and flag communications between colleagues and are being introduced by companies around the world. Continue reading...
< Artificial intelligence (AI), Technology, #MeToo movement, Work & careers, Guardian Careers, Money, World news, Computing, Sexual harassment, Bullying, Society, Consciousness >
- Business Insider 21:49January 2, 2020'Fortnite' made $1.8 billion in 2019, analysts say — that's down 28% from 2018, but it's still the biggest game in the worldEpic Games "Fortnite" continues to be the biggest game in the world, with tens of millions of monthly players across seven different platforms.
Even though the game is free, it managed to pull in nearly $2 billion in 2019, according to Nielsen's SuperData tracking arm.
"Fortnite" offers a seasonal Battle Pass, which costs $10 and is wildly popular, in addition to selling in-game items to dress up your characters with.
Visit Business Insider's homepage for more stories. "Fortnite" continues to dominate the attention of tens of millions of players around the world.
More specifically: "Fortnite" made $1.8 billion in 2019, according to Nielsen's SuperData tracking arm. See the rest of the story at Business InsiderNOW WATCH: How autopilot on an airplane worksSee Also:How to link your PayPal account to your Google Pay account on an iPhone or AndroidHow to add your contacts' birthdays to your Google Calendar in 4 simple stepsI consistently recommend smartphones from a company that few in the US have ever heard of over Apple's iPhones or Samsung's Galaxy phones — this is whySEE ALSO: 'Fortnite' was the most important video game of this decade, and it will be for the next one too
< Gaming, Fortnite, Epic Games, Epic, Money, Revenue, Video Games, Mobile, Microsoft, Sony, Xbox, Xbox One, Xbox One S, Xbox One X, PlayStation, PlayStation 4, PlayStation 4 Pro, PS4, PS4 Pro, iPhone, iOS, Apple, Google, Android, Google Play, PC, Mac, Nintendo, Nintendo Switch, switch, >
- Business Insider 17:29January 2, 20207 of the smartest pieces of advice about saving money from early retireesPaul Bradbury/Getty Early retirees who retire with a seven-figure net worth are well versed in the right ways to build wealth and save money.
Business Insider rounded up some of the best money-saving tips that early retirees have shared with us.
They said some money is better than no money — and that it's important to have a net-worth target goal.
They also said don't forget to invest in yourself, because being rich has little to do with the size of your paycheck.
Visit Business Insider's homepage for more stories. If anyone knows a thing or two about saving money, it's those who earned and saved enough money to retire early.
I've spoken with, and learned from, many early retirees, several of whom retired millionaires, and I'm always impressed with not just their insightful advice on building wealth but with their perspective on money as a whole.
The best part is that their wisdom doesn't just apply to other hopeful early retirees. Even those saving for a "normal" retirement or a different long-term goal can take their words to the bank.
From having a net-worth target goal and saving 20% of your income to investing and letting your money compound, here's what they had to say.
Focus on your spending, not your earnings.
Courtesy of Chris Reining
Chris Reining, who retired at 37 as a self-made millionaire, finds a difference between "living rich" and "being rich."
He posted a Tweet earlier this year that read: "Living rich: Make $500k, spend $500k, don't have two nickels to rub together. Being rich: Make $100k, spend $40k, have $1 million in the bank."
Instead of measuring wealth as figures or material means, he defines rich from a behavioral standpoint.
"When people say they want to be rich, what they're saying is they want to spend like a rich person. They're focusing on earning a big paycheck," Reining told me. "But that's not the definition of being rich. The definition of being rich is having assets generating income that exceed your standard of living."
He continued: "Someone earning $50,000 a year while they sleep from dividends and investment gains and spending $40,000 a year — they're rich. I have friends earning half a million, and with private schools, second homes, and expensive lifestyles, they have nothing in their bank account — they're poor. That's why 'rich' has little to do with how big the paycheck is.
"Getting rich, and staying rich, is overwhelmingly a game of living below your means. If you can do that you'll enjoy a freedom that people living rich will never experience."
Put in the hard work and sacrifice to build your first small nest egg.
Courtesy of JP Livingston
In a post she wrote for Business Insider, JP Livingston, who retired at 28 with a nest egg of $2 million and runs the blog The Money Habit, called the difference between having no money and a little money "staggering."
"More money means more options open up to you," she wrote. "Better options. The more money you have means you accelerate faster and faster toward massive wealth. Money begets money, so it's worth the hard work and sacrifice to build that first small nest egg."
For example, she used her accumulated wealth to get a mortgage rate discount as a private client of major banks (a mortgage discount is a benefit of being a private client). To qualify, she had to transfer some buy-and-hold stocks into an account stewarded by the bank.
Those accumulated assets allowed her to get a discount worth $300,000 over the life of the loan and take advantage of brokerage sign-up bonuses.
"Do everything you can to accumulate that first $10,000, $20,000, or $100,000," she wrote. "It will create a snowball that speeds you toward wealth far faster than you can imagine."
Earn, save, and invest.
John, who runs personal-finance blog ESI Money and retired early at 52 with a $3 million net worth, interviewed 100 millionaires over the past few years.
In a blog post, John, who doesn't share his full name online, revealed what he learned from them, including the simple strategy they use to build wealth.
"I have had one or two interviewees with some sort of fortunate life event (like working for a startup company that made it big and paid stock options), but almost all of them grew their wealth the old-fashioned way: They earned a lot, saved a ton, and invested for a long time," he wrote.
He added: "They make solid money moves over time and ultimately become wealthy."
It sounds simple — and it is.
"Becoming wealthy is simple — create a gap between earning and spending for many years," he wrote. "A huge inheritance or hot stock tip is not required."
See the rest of the story at Business InsiderSee Also:Carlos Ghosn reportedly fled prosecution in Japan by hiding in a box on a private jet. Meet Nissan's disgraced former chairman, who was charged in 2018 with underreporting his compensation.Ingvar Kamprad, the reclusive billionaire who founded Ikea, grew up selling pencils in Swedish villages and was the 8th-richest person in the world by the time he died. Here's how he built a fortune off furniture.Here's what it's like to attend the Monaco Yacht Show — in a country where the poverty rate is 0 — when you are not a millionaireSEE ALSO: 5 people explain how their life unexpectedly changed after retiring early
DON'T MISS: The 7 best lessons successful people taught us about money in 2018
< Features, Early retirement, Retirement, Money Advice, end of year, Year in Review, Your Money Saving, PFI SmartAsset, Arts & Culture, BI Select, >
- Huffington Post UK 17:08January 2, 2020A Flexi Season Ticket Could Save You Cash: Here's What We Know So Far
< Money, work, Trains, commuting, Govia Thameslink Railway, money, work, trains, govia-thameslink-railway, LIFE, lifestyle >
- Huffington Post UK 15:13January 2, 202010 Handy Items To Help You Get Organised In 2020
< Finds, Tech, wellbeing, home, Money & work, finds, tech, money-work, LIFE, lifestyle >
- The Guardian(UK) 03:01January 2, 2020Call for rethink on rail fares after latest above-inflation increaseCampaigners demand overhaul of system and fairer way to calculate future fares Campaigners have called on the government to rethink rail fares as commuters return to work facing another 2.8% rise in the cost of their travel.The latest above-inflation increase will add more than £100 to many season tickets, and follows months of misery on some of the country’s biggest commuter rail networks, affecting passengers in the north of England, the Midlands and London. Continue reading...
< Rail fares, Rail industry, Business, Consumer affairs, Money, Transport, Transport policy, UK news, Politics, Rail transport >
- Business Insider 17:30January 1, 2020I had $30,000 in my high-yield savings account until a financial expert convinced me that was a bad ideaCourtesy of Elizabeth Aldrich I have a year's worth of expenses in my emergency fund, and I started feeling like I was missing out on returns by letting so much money sit in a savings account.
It's usually recommended that an emergency fund hold three to six months of living expenses, but I had considerably more saved.
While I earn a relatively high return with my high-yield savings account, money expert Miranda Marquit convinced me that investing a portion of that fund might be wise. I decided to invest one-third of my emergency fund, to start.
Need help making the most of your extra cash? SmartAsset's free tool can find a financial planner to create a strategy for your money » If I had to pick one financial move that impacted my life the most, it would probably be building an emergency fund.
Having a cushion of cash reserves on hand to cover unexpected expenses has brought me peace of mind, not just when I've had to shell out money for a new transmission in my car or weather a low-income month, but even when I don't actively need that money. Knowing it's there if I do keeps a lot of my anxieties at bay.See the rest of the story at Business InsiderNOW WATCH: A 45-year-long study discovered trends in successful hyper-intelligent childrenSee Also:6 things most people don't think to shop for that could save a lot of money6 money decisions you can feel good about instead of beating yourself up over holiday spending8 ways to recession-proof your finances, according to experts
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- Business Insider 21:34December 31, 2019How to keep from losing everything in a divorce, in 6 stepsJanuary is divorce month, and it is important to know how to protect your finances to make the process as painless as possible.
Whether it be clarifying which assets are yours or even just making copies of your financial statements, there are simple things you can do to save you a lot of trouble down the road.
Visit Business Insider's homepage for more stories If you're staring down the face of an impending divorce, you're not alone: It's divorce season.
The antithesis to December's engagement season, divorce filings begin to spike in January, peaking in February and March.
While it might be an emotionally harrowing time, it's important not to lose sight of the bigger picture. You need to protect yourself, your kids, and your future, and that means getting your finances in order — pronto.
If divorce is looming, here are six ways to protect yourself financially. 1. Identify all of your assets and clarify what's yours
Step one: Identify your assets. Before you can proceed with anything else, you need to know how much money you have and where it is. Next, clarify what's in your name and what belongs to your spouse, including any mortgages, bank accounts, investments, and other assets.
"A judge is going to care more about a good financial statement than a picture of someone going out of a motel," Stanley Corey, a certified financial planner and managing director at United Capital in Great Falls, Virginia, told Business Insider. "It all comes down to the basics of the dollars and cents, so get current statements of value of assets and get things clarified."
2. Get copies of all your financial statements
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Get everything in writing. Everything. While the court may not care about proof of your spouse's affair, it will care about proof of your assets, so start compiling as much documentation as possible.
Be careful not to rely on electronic copies, however, warns Shelly Church, a certified financial planner and senior vice president of investments for Raymond James. You don't want to risk getting locked out of your information if a vindictive spouse decides to change the passwords to all of the joint accounts, so print everything out.
This includes bank account statements, tax forms, brokerage firm statements, and any financial documents you've signed in the last few years.
3. Secure some liquid assets
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The last thing you want is for a petty spouse to leave you without any cash, but it happens. Church recommends taking a proactive approach: "If there's a joint account, [you] can actually set up an account just in [your] name and move a certain amount of assets over."
Don't wipe out the account, but make sure you have enough to cover your bills until attorneys can get involved. Otherwise, the only way to get access is to hold an emergency court hearing to get temporary child support or temporary alimony.
"That's expensive and time-consuming, so if you can get some assets that are liquid, some cash that's available, that's very important and that will buy you a little bit of time," Church explains.
See the rest of the story at Business InsiderSee Also:I'm taking 50 trips in 2020 to celebrate my 50th birthday, but my best birthday gift to myself was my life insuranceThe 10 best countries to retire in, according to expatsWe compared the Chase Sapphire Reserve and Amex Gold to determine the ultimate dining rewards cardSEE ALSO: January is 'divorce month' — a lawyer breaks down the top signs a marriage is about to dissolve
DON'T MISS: A top NYC divorce attorney shares the one thing she wishes everyone knew before getting divorced
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- Business Insider 21:27December 31, 2019How to receive money from Cash App in 2 different waysPiotr Swat/Shutterstock It's easy to receive money from Cash App by sending a payment request, or accepting an incoming payment.
If someone has never paid you before on Cash App, you'll have to first accept their payment in the Pending tab. After that, their payments will automatically be deposited into your account.
Here's how to receive money from Cash App.
Visit Business Insider's homepage for more stories. Square's Cash App is a mobile peer-to-peer payment app, like Venmo, that allows you to transfer money to family and friends without even having to be in the same room.
Cash App makes it convenient to split things with friends, too, from pizzas to hotel rooms. See the rest of the story at Business InsiderNOW WATCH: Apple just revealed its AirPods Pro for $249, which feature noise cancellation. Here's everything that was wrong with the $159 pair of the wireless headphones.See Also:How to reverse a video on your iPhone using a third-party appHow to factory reset your Oculus Go using your headset or the appHow to save a video from Facebook Messenger on your iPhone or Android phoneSEE ALSO: The best budget smartphones
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- Business Insider 17:30December 31, 2019Here's how to set financial goals for the new decadeCrystal Cox/Business Insider It's time to plan for the decade ahead. When it comes to making a financial plan, you should have specific and tangible goals.
Make sure goals are personal and reasonable, but also toss in some overarching, "outrageous" goals to motivate you.
Write down goals, and have a specific time frame. And reward yourself when you succeed.
You should always be planning ahead for retirement, and preparing for unexpected expenses.
Visit Business Insider's homepage for more stories. It's tough to ignore the endless memes circulating about the new decade that's approaching. But what's even harder is understanding how to mentally — and financially — prepare for the years ahead. Every lap around the sun presents new opportunities and challenges, and one strategic way to conceptualize changes you hope to make in the next decade is to set goals that provide direction and focus.
As Brent Weiss, certified financial planner and head of planning at online financial planning firm Facet Wealth explains, with specific and tangible goals in mind, we're more likely to hold ourselves accountable. They also serve as guidance if you happen to encounter any hiccups (as you likely are in the next 10 years). "Life is meant to be an exciting journey, so make sure you enjoy it. However, you should be thinking about planning for tomorrow while enjoying today," he says. "Let your goals be your inspiration, and they will motivate you to achieve things you never thought imaginable."
Here's how to set financial goals for the decade and strategies to help achieve them.Make goals personal
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It's easy enough to aspire to save $100,000 over 10 years — but for what? A home? Retirement? Paying off student loans? Goals need to be meaningful to you and tailored to your unique path — not that of your friends or family — or else you won't be inspired to achieve them.
"Setting goals that are based on your values and your personal beliefs will not only motivate you but will make success more likely as they are tied to your authentic self," Weiss said. "Being true to yourself is a key element in achieving your goals. Whether it's becoming more active in your community, gaining life experiences through travel, or investing in your own personal or professional growth, make it about you. It's OK to be a little selfish here."
Weiss suggests adding a bit of color to your financial goals. One way to do that is to create a vision board with pictures and notes about what you envision and why it's meaningful to you.
Make sure they are reasonable …
Sure, starting a company that eventually rakes in millions a year might happen. Winning the lottery? Sure, that would be amazing. While having out-of-this-world aspirations helps keep us believing in the impossible, when considering goals for the new decade David Reiling, CEO of Sunrise Banks, suggests setting at least a few that are down-to-earth and attainable.
Setting achievable financial milestones will help you maintain your momentum over the long haul. "It's important to go easy on yourself with goals that won't break the bank or make you miserable," Reiling said. "If you set unattainable goals, you'll start dreading the financial planning process, and that makes it more likely you won't keep your resolve to plan ahead."
But toss in a few outrageous goals
Crystal Cox/Business Insider
Or as Weiss puts it: Dare to have terrifying goals. Along the same lines of ensuring a goal is quantifiable and achievable, leave room for a few of those lofty dreams by setting goals that are exciting, maybe a little scary, and that push you beyond your comfort zone. (How does saving $1 million sound?)
"The purpose of these types of goals is not always about success," Weiss said. "Sometimes it's about investing in yourself, stretching for something, and sometimes failing which can be a key ingredient in learning, growing, and finding the right path forward." Setting a handful of outrageous financial goals keeps us engaged and holds our attention. And who knows what you might be able to achieve in 10 years' time.
See the rest of the story at Business InsiderSee Also:6 ways to hit your financial goals in 2020, according to personal finance experts4 New Year's resolutions that will help you grow both personally and professionallyMaking New Year's resolutions with your kids can be a great parenting opportunity — here are 5 ways to make meaningful onesSEE ALSO: 6 ways to hit your financial goals in 2020, according to personal finance experts
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- Business Insider 17:00December 31, 20196 ways to hit your financial goals in 2020, according to personal finance expertsMartin Novak/Getty Images With a few changes, some planning, and hard work, 2020 can be the year you take real action to achieve your financial goals.
Being honest about your credit card debt and working toward paying down student loans can help you achieve your financial goals.
Making small tradeoffs in your day-to-day life can help you save for big purchases down the road, like a dream vacation.
Visit Business Insider's homepage for more stories. January 1 is both a beacon and a motivator to tackle those big money goals. Here's how to get started on the right foot and see it through to success.
With the arrival of 2020 it's natural (and, well, fun) to imagine what could be in store for us. There are 12 shiny, bright months ahead that hold promise, possibility, and purpose. How can we make the most of every single one of them? By creating impactful, manageable and effective financial resolutions that serve our goals.
With a few changes, some planning, and hard work, 2020 can be the year you take real action to achieve your greatest aspirations. We'll help you get started by walking you through those important first steps of achieving your financial resolutions by the end of the year. Pad your emergency savings and retirement accounts
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Unexpected expenses, a month full of birthdays, or an impromptu trip can all throw off our plans to finally amass an emergency fund or start saving for retirement in earnest. If this is the year you truly want to add more bulk to these all-too-important accounts, make it happen by setting up automatic deposits to funnel money from each paycheck into these accounts.
Sort of like a tree falling in a forest, when we don't see the cash, we don't miss it. "You'll be able to put money away without putting too much thought into doing it regularly, and then as more money becomes available in your budget, you can increase your contributions," said credit industry analyst, Nathan Grant.
Grant recommends setting a specific goal, like saving three months worth of living expenses to cover housing, food, transportation, and, if we have them, at least the minimum payments on recurring debts just in case there's trouble with your income. For retirement, set either a dollar goal or pick a percentage of your income (15% is ideal, but anything that gets you started is a worthy goal).
Buying a home
Part of the good 'ole American dream for many is becoming a homeowner, and it's a major moment in many of our lives (including HerMoney's Editor-In-Chief, Kathryn Tuggle). It takes a lot of savings and even more self-control to sign on the dotted line of a mortgage. If 2020 is the year when this goal will be within reach, it's time to make yourself a strong candidate for a mortgage, especially if you live in a zip code that's not a buyer's market.
Financial expert and CEO of Coastal Wealth Jeremy Straub suggests starting by improving our credit score in the first quarter. "This number usually determines if you can receive a mortgage and what your interest rates would be," he said. "You can clean up your credit by paying off credit card debt or other miscellaneous unpaid debt that you have acquired. Your lender will also look at your debt-to-income ratio to ensure you can afford to make your monthly payment."goodluz/Shutterstock
While working on putting the finishing additions to your down payment fund and polishing your credit record, take the time to research dutifully. As Ashley Russo, a financial advisor for Northwestern Mutual recommended, it's beneficial to spend twenty minutes every day to understand what's realistic to spend on a house within your budget in your geographic area. From here, you'll have a clearer picture of homeownership goals, making your resolution that much stronger.
Pay down credit card debt
For many people, debt starts as an anthill and quickly becomes a mountain. The longer we leave a balance lingering, the higher the peak will reach. But there are ways to create an achievable resolution for what feels like an impossible task.
The first step is being honest and open about our overall debt situation, and reading the fine print on what debts are costing us the most. In other words, Grant recommends the debt avalanche payoff method which starts by tackling the high-interest debts head-on.
"You should make at least the minimum payment on every debt you owe, while putting any additional money in your budget towards the debt with the highest interest rate until it's paid in full," he explained. "Once that debt is paid off completely, apply the extra money that went toward it to the next highest interest debt, then rinse and repeat until you've paid off all of your debts."
Another tactic to help you reach debt-free status — and a smart way to begin 2020 — is to transfer balances to a credit card with a 0% introductory APR. "Some cards can have an interest-free period for 18 months, so see if this can help resolve some of the debt headaches of years past," Grant said. "As you pay your debt back responsibly, you should see your credit scores increase, which can help with other major financial milestones that could await you in the new year ahead."
See the rest of the story at Business InsiderSee Also:4 New Year's resolutions that will help you grow both personally and professionallyI asked the oldest people I know what they regret most, and what they found most important — here's what I learnedYou might want to think twice before writing 'thank you' at the end of a business emailSEE ALSO: 6 tips to slash your holiday budget and save money starting today
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