Steal These Money Secrets From 25 Millionaires Under 25
.Steal These Money Secrets From 25 Millionaires Under 25
Here's how to make and manage money to become a millionaire.
By Cynthia Measom July 13, 2021
Unless you’re independently wealthy, you’ve probably entertained the idea of being a millionaire. As you read about the latest celebrity splurge, you might wonder what a normal person can do to make that kind of money.
The rich often know the secrets to financial success, and now you can, too. By knowing how these 25 millionaires under 25 amassed their fortunes, you can get some personal finance and budgeting tips that apply to your own life and growing bank account.
Steal These Money Secrets From 25 Millionaires Under 25
Here's how to make and manage money to become a millionaire.
By Cynthia Measom July 13, 2021
Unless you’re independently wealthy, you’ve probably entertained the idea of being a millionaire. As you read about the latest celebrity splurge, you might wonder what a normal person can do to make that kind of money.
The rich often know the secrets to financial success, and now you can, too. By knowing how these 25 millionaires under 25 amassed their fortunes, you can get some personal finance and budgeting tips that apply to your own life and growing bank account.
Automate Your Finances
In 2016, when Mikaila Ulmer landed an $11 million deal with Whole Foods to sell her Me & the Bees Lemonade in 55 of its stores in four states, that was just the beginning of her financial success. Today, the 14-year-old entrepreneur's beverage is now also being sold by restaurants, food trailers and natural food delivery companies.
In a 2017 interview with CNBC, Mikaila said her best money advice is to automate your finances. What the teenage millionaire means is to use online technology to track numbers and share data to keep financial information easily accessible and in check.
Diversify Income Streams
People who are looking to become rich can take a cue from stars who know how to diversify their income streams — like Camila Cabello. The 23-year-old singer got her start on "The X Factor" television show in 2012 as a member of the group Fifth Harmony, which she left to become a solo act in 2016.
Since becoming a solo act, Cabello has collaborated with other artists, released a No. 1 album, toured solo, done a modeling campaign for Guess and took a role in a film adaptation of "Cinderella." According to Celebrity Net Worth, Cabello has a net worth of $14 million.
Liza Koshy, who cut her digital teeth on the now-extinct Vine, is another star who knows how to earn income from various ventures. She made Forbes' 2019 30 under 30 list.
Koshy has two successful YouTube channels with millions of subscribers. She's had her share of sponsored content opportunities and has been hired for commercial ads. She snagged a role in Hulu's "Freakish" and played a part in Tyler Perry's "Boo! A Madea Halloween" movie. Plus, Nickelodeon hired her as the face of its "Double Dare" reboot.
JoJo Siwa is another famous female who rakes in the money from many angles. This 17-year-old is known as a dancer, singer, reality television star, model and actress. Her net worth is $12 million, according to Celebrity Net Worth.
In addition to gaining income from her many talents, the teen's YouTube channel has more than 10 million followers. She also has lucrative licensing deals with Nickelodeon and J.C. Penney.
Get Started In Your Career Early
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The 8-Step Plan To Achieving Financial Freedom
.The 8-Step Plan To Achieving Financial Freedom
Will Healy Mon, July 12, 2021,
The late Jim Rohn, who spent 40 years as a sales expert and motivational speaker, would frequently discuss financial freedom in his podcasts. In his distinctive voice, he would emphasize the need to learn to work harder on yourself than you work on your job. He called making money in America “easy.” Of course, his definition of “easy” was “something I could do,” meaning that it involved quite a lot of hard work.
Rohn also mentioned that people find it easy not to follow these steps. Unfortunately, most Americans appear to choose that version of “easy.” The U.S. holds the 11th largest per-capita GDP in the world at $62,641 per year. Despite this, only about 40% of Americans can cover an unexpected $1,000 expense.
The 8-Step Plan To Achieving Financial Freedom
Will Healy Mon, July 12, 2021,
The late Jim Rohn, who spent 40 years as a sales expert and motivational speaker, would frequently discuss financial freedom in his podcasts. In his distinctive voice, he would emphasize the need to learn to work harder on yourself than you work on your job. He called making money in America “easy.” Of course, his definition of “easy” was “something I could do,” meaning that it involved quite a lot of hard work.
Rohn also mentioned that people find it easy not to follow these steps. Unfortunately, most Americans appear to choose that version of “easy.” The U.S. holds the 11th largest per-capita GDP in the world at $62,641 per year. Despite this, only about 40% of Americans can cover an unexpected $1,000 expense.
Consequently, many find it difficult to imagine financial freedom when they have to go into debt to repair their car or replace a worn-out appliance. You can change such circumstances by making a commitment and taking time to learn the lessons of paying debt, saving and investing.
8 Steps To Achieving Financial Freedom
Achieving financial freedom will not happen by accident. It will take discipline and commitment, a set of specific steps that can make this goal a reality. These processes will make financial independence a concrete goal and help you avoid money mistakes. They will also help place you on the path needed to turn early retirement into a reality.
1. Define Financial Freedom for Yourself
Most people you ask will say that they want “financial freedom.” But what does that mean? Going back to Jim Rohn, he defines it as the ability to live from the income of one’s personal resources. Even this leaves a lot of vagueness, as financial freedom can mean different things to different people.
Does it mean a modest or a lavish lifestyle? Living in a high-cost area or a low-cost one? Will you have mortgage or rent payments, or will you live in a home already paid off? What other debts, if any, will you still have to pay down? All of these decisions will factor into your definition of financial freedom.
2. Make a Budget
One way to ensure you stick to your financial goals is by making a budget. This takes every dollar of income and assigns a purpose to it. Admittedly, budgeting for that morning latte or the vacation to Hawaii might be difficult at first. But once you adjust to the discipline of living within your means, your budget can be empowering.
To continue reading, please go to the original article here:
https://finance.yahoo.com/news/8-step-plan-achieving-financial-210034255.html
Want To Borrow Money From a Friend or Family? How To Approach the Subject
.Want To Borrow Money From a Friend or Family? How To Approach the Subject
By Laura Woods May 7, 2021
You’re strapped for cash, so you’re thinking about asking a friend or family member for a loan. Whether you need a small amount to get by until payday or a larger sum for a major life event — i.e., seed money to start a business — you’re not sure how to structure the ask.
There’s a common school of thought that mixing loved ones and money just doesn’t work. Of course, everyone doesn’t share this mindset, so tread lightly to ensure you don’t inadvertently tarnish your relationship with the other person.
Jodi RR Smith, president of Mannersmith Etiquette Consulting, said borrowing money is rarely easy — especially when you’re asking friends or family for the loan.
Want To Borrow Money From a Friend or Family? How To Approach the Subject
By Laura Woods May 7, 2021
You’re strapped for cash, so you’re thinking about asking a friend or family member for a loan. Whether you need a small amount to get by until payday or a larger sum for a major life event — i.e., seed money to start a business — you’re not sure how to structure the ask.
There’s a common school of thought that mixing loved ones and money just doesn’t work. Of course, everyone doesn’t share this mindset, so tread lightly to ensure you don’t inadvertently tarnish your relationship with the other person.
Jodi RR Smith, president of Mannersmith Etiquette Consulting, said borrowing money is rarely easy — especially when you’re asking friends or family for the loan.
“This is not a topic easily approached or discussed,” she said. “When you find yourself in need, take a bit of time to strategize before officially asking.”
She said it’s important to begin with a self-assessment, so you can go in with a plan. For example, think about why you need the money, whether you’ll disclose the reason for the loan, how much you need and your repayment strategy.
When you have your plan together, Smith said your ask should be as professional as possible.
“Let the person know you have something serious to discuss and schedule a specific time to speak,” she said. “Surprising the person in the middle of a party or family gathering does not bode well for any future trust.”
Don’t expect an immediate response, as Smith said most people will need time to consider your request. Instead, she said to just ask when they expect to make a decision, thank them for listening and allow them time to think. “If this conversation is confidential, remind them, and take your leave,” she said.
It’s very possible your request will be declined, as Smith said not everyone is comfortable lending money. She also noted that the person’s financial situation might not truly reflect what you see on the surface.
“There are some people who present as having plenty, but are actually in debt themselves,” she said. “And others who live simply with large bank accounts.”
To continue reading, please go to the original article here:
Someone Owe You Money? How To Get It Back Without Ruining the Relationship
.Someone Owe You Money? How To Get It Back Without Ruining the Relationship
By Laura Woods July 9, 2021
You lent money to a friend or family member and they haven’t paid you back. Since you thought this was a short-term arrangement — and definitely not a gift — you feel like it’s time to ask for repayment, but you’re stressed about it. This is a person you care about, so you don’t want to strain your relationship. However, you need your money back, so you’re willing to initiate this uncomfortable conversation, but you want to do it the right way.
“On many occasions the way we ask for the money to be paid back can be truly detrimental,” said Maryanne Parker, founder of Manor of Manners etiquette consulting. She said the best way to ask depends on your relationship with the other person, the amount of money owed and the situation.
Someone Owe You Money? How To Get It Back Without Ruining the Relationship
By Laura Woods July 9, 2021
You lent money to a friend or family member and they haven’t paid you back. Since you thought this was a short-term arrangement — and definitely not a gift — you feel like it’s time to ask for repayment, but you’re stressed about it. This is a person you care about, so you don’t want to strain your relationship. However, you need your money back, so you’re willing to initiate this uncomfortable conversation, but you want to do it the right way.
“On many occasions the way we ask for the money to be paid back can be truly detrimental,” said Maryanne Parker, founder of Manor of Manners etiquette consulting. She said the best way to ask depends on your relationship with the other person, the amount of money owed and the situation.
“If you are lending money to your brother or a sister, you definitely won’t feel uncomfortable asking for the money back — especially if it is an ongoing family situation,” she said. “If we are lending money to someone else, then we can use different techniques without ruining the relationships.”
Having proper communication from the beginning is a must, Parker said. This includes making it clear you’re lending them the money — not giving it to them — and want to be repaid within a specific timeframe.
“On some occasions people get confused or misunderstand the situation — especially if there is known ‘financial superiority,’ when one of the parties is doing better financially because [they have] a better job, career, business and so on,” she said.
She said it’s also important to be understanding because it’s possible the other person is very aware they owe you money but is in a difficult financial situation.
“They might even feel much more uncomfortable than us, just because they are in need,” she said. “Owing money to someone puts us in a very vulnerable situation and if we want to keep the relationships going, we should be understanding.”
To continue reading, please go to the original article here:
What It Means To Live a Truly Rich Life and How To Achieve It
.What It Means To Live a Truly Rich Life and How To Achieve It
Jaime Catmull July 1, 2021
Being “rich” means different things to different people — and it doesn’t always have to do with money. In fact, a 2018 GOBankingRates survey found that nearly half of Americans — 49% — defined being rich in a way that had nothing to do with financial wealth.
According to the survey, 30% of Americans believe that being rich means living a happy life no matter how much money you earn, and 19% define wealth as having meaningful My personal definition of living a rich life has changed and evolved over time. Now, I can’t help but think how important it is for me to know that if I lost my job tomorrow that I could still pay my bills, and to have the financial freedom to breathe.
What It Means To Live a Truly Rich Life and How To Achieve It
Jaime Catmull July 1, 2021
Being “rich” means different things to different people — and it doesn’t always have to do with money. In fact, a 2018 GOBankingRates survey found that nearly half of Americans — 49% — defined being rich in a way that had nothing to do with financial wealth.
According to the survey, 30% of Americans believe that being rich means living a happy life no matter how much money you earn, and 19% define wealth as having meaningful My personal definition of living a rich life has changed and evolved over time. Now, I can’t help but think how important it is for me to know that if I lost my job tomorrow that I could still pay my bills, and to have the financial freedom to breathe.
I haven’t always had that. When I was younger, I was irresponsible with my money. Though exotic trips, expensive clothes and fancy restaurants were fun, the bills and debt they left me with were not. I thought “living richer” was all about throwing caution to the wind and not worrying if I could afford something or not. Thinking and living like that only led to extreme financial hardship, stress and unhappiness. It wasn’t until I stopped trying to look and act “rich” and comparing myself to others that I found what “Live Richer” truly means relationships with friends and family.
“Live Richer” to me is no longer searching for happiness in physical things. Instead, it’s finding it where I’m at, and ultimately within myself. It’s about putting money away for rainy days instead of worrying about your next Instagram post or having the right outfit, car or home. Saving money and budgeting isn’t always fun or sexy, but the sense of peace and worth that comes from having a savings account and a retirement plan is priceless.
Having struggles with money and not being able to buy everything I thought I wanted helped me develop my character, and be more aware and compassionate toward others and their money struggles. That’s why the “Live Richer” series and Your Money Champion column are so important to me.
Through helping people with their hardest money questions and sharing expert advice, I’ve learned that with the right planning and a little bit of discipline, it’s possible to earn more, save more and live well in every phase of life — and during the month of July, GOBankingRates will be teaching you how to do just that.
To kick off our month of living richer, I spoke to some very influential, successful people about how they define living a “rich life” — here’s what they had to say.
Barbara Corcoran: Real Estate Mogul and Business Expert
“By most people’s standards, my parents were poor. But they were never depleted, weak or needy, and cared for all 10 of us with an abundance of love. They just didn’t value money. Today people say I’m rich — flush with cash, as they say, a lucky son of a gun. But I don’t put much value on it. My real worth is the time I spend with the people I love, measured by the enduring affection my family and friends have for me over a lifetime.”
Deepak Chopra, MD: Founder of Chopra Global and The Chopra Foundation
“To live richer is to follow the inner path to wealth and abundance.”
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7 Steps To Take for Financial Wellness in 2021
.7 Steps To Take for Financial Wellness in 2021
Nicole Spector Thu, July 8, 2021
At the start of 2021, you may have vowed to pay down debt, boost your credit score or build an emergency fund. Perhaps you're still going strong with these financial goals, or perhaps you’re starting to lose your momentum. Maybe you've surrendered altogether.
If you’re in any of these boats, rest assured that you’re not alone. According to a study by researchers at Scranton University, only 19% of people keep their resolutions, and most give up by mid-January. There are a lot of reasons why we fail at our resolutions, and usually, it has nothing to do with our willpower or lack thereof. One common reason we’re unsuccessful is that we don’t give ourselves clear paths to achieve the lofty goals we’ve set. Sometimes, all you need to triumph is to simply reframe your approach.
We consulted financial experts to learn common money goals that are harder to stick to than they might seem, and what you can do to make them easier to follow through on.
7 Steps To Take for Financial Wellness in 2021
Nicole Spector Thu, July 8, 2021
At the start of 2021, you may have vowed to pay down debt, boost your credit score or build an emergency fund. Perhaps you're still going strong with these financial goals, or perhaps you’re starting to lose your momentum. Maybe you've surrendered altogether.
If you’re in any of these boats, rest assured that you’re not alone. According to a study by researchers at Scranton University, only 19% of people keep their resolutions, and most give up by mid-January. There are a lot of reasons why we fail at our resolutions, and usually, it has nothing to do with our willpower or lack thereof. One common reason we’re unsuccessful is that we don’t give ourselves clear paths to achieve the lofty goals we’ve set. Sometimes, all you need to triumph is to simply reframe your approach.
We consulted financial experts to learn common money goals that are harder to stick to than they might seem, and what you can do to make them easier to follow through on.
1. Goal: Pay Down Debt
Why it's hard to do: “Debt can be overwhelming, and many people don't even know how much debt they have so tallying it up and organizing all your bills can feel insurmountable,” said Steffa Mantilla, certified financial education instructor, Money Tamer. “Then once you do know how much debt you have, there are conflicting thoughts on debt payoff strategies and whether you should even pay your debt off or keep it.”
How to do it better: “Commit to taking an hour listing all your debts in a spreadsheet, then list them from the smallest debt to the largest debt,” Mantilla said. “By focusing first on paying off the smallest debt, you'll get to a 'win' faster. You'll likely be able to pay off a few small debts before getting to the larger more daunting amounts. These smaller wins will give you the motivation to propel you through the larger debt payoff amounts.”
2. Goal: Stick To a Budget
Why it’s hard to do: “As we’ve seen this past year, life is unpredictable and creating a budget can help safeguard you from some of the uncertainty,” said April Schneider, head of consumer and small business products at Bank of America. “But, if you set a rigid budget and never change it, it may not remain relevant from one month to the next as your income and expenses fluctuate. Even more so, when it is safer to travel and dine out without restrictions, your spending habits may look different and you may find yourself spending more than anticipated in certain categories.”
How to do it better: “I recommend routinely adjusting your budget to maintain its effectiveness and using a rewards credit card that matches your spending habits to help you stay on track with your financial goals.”
Christopher Stroup, a financial advisor working for Abacus Wealth Partners, suggests handing some of the chores of budgeting over to software to see better success. “Some of our favorite resources, such as Mint or You Need a Budget, allow users to link all of their accounts into a central financial hub,” Stroup said.
“From there, the software can suggest a budget given your historical spending. One of my favorite tricks is to teach the software to recognize certain expenses and put them in the proper budget category I have created. Moving forward, this saves me a tremendous amount of time as I no longer have to itemize my expenses by placing them in the appropriate spending bucket. The software does this for me, which gives me more time to understand where I met (or missed) my budget goal for the month.”
To continue reading, please go to the original article here:
https://finance.yahoo.com/news/7-steps-financial-wellness-2021-120041798.html
Dynastic Wealth
.Dynastic Wealth
Published July 7, 2021 by Jim Wang
As the lyrical poet Christopher Wallace once said, “Mo’ money, mo’ problems.”
I don’t know what it’s like to have dynastic wealth. We’ve done well financially and as the numbers get bigger, sometimes the stress of the markets can bleed over.
1% of $10,000 is a mere hundred bucks. It’s not chump change, per se, but it’s something I can accept and stomach without incident.
1% of $1,000,000 is $10,000 – which is more than twice what my starting salary was at my first job out of college with Northrop Grumman (and in fact is more than any monthly salary I’ve ever had).
I can only imagine what it’s like to have dynastic wealth, especially one you didn’t have a hand in building, and seeing similar activity.
Dynastic Wealth
Published July 7, 2021 by Jim Wang
As the lyrical poet Christopher Wallace once said, “Mo’ money, mo’ problems.”
I don’t know what it’s like to have dynastic wealth. We’ve done well financially and as the numbers get bigger, sometimes the stress of the markets can bleed over.
1% of $10,000 is a mere hundred bucks. It’s not chump change, per se, but it’s something I can accept and stomach without incident.
1% of $1,000,000 is $10,000 – which is more than twice what my starting salary was at my first job out of college with Northrop Grumman (and in fact is more than any monthly salary I’ve ever had).
I can only imagine what it’s like to have dynastic wealth, especially one you didn’t have a hand in building, and seeing similar activity.
I Was Taught From a Young Age to Protect My Dynastic Wealth [The Atlantic] – “When you come into money as I did—young, scared, and not very savvy about the world—you are taught certain precepts as though they are gospel: Never spend the “corpus” (also known as the capital) you were left. Steward your assets to leave even more to your children, and then teach them to do the same. And finally, use every tool at your disposal within the law, especially through estate planning, to keep as much of that money as possible out of the hands of government bureaucrats who will only misuse it.”
I Was Taught From a Young Age to Protect My Dynastic Wealth
A common ideology underlies the practices of many ultra-wealthy people: The government can’t be trusted with money.
By Abigail Disney JUNE 17, 2021
About the author: Abigail Disney is a documentary filmmaker, a co-founder of Fork Films, and the host of the podcast All Ears.
When ProPublica published its report last week on the tax profiles of 25 of the richest Americans, jaws dropped across the United States. How was it possible that plutocrats such as Elon Musk, Jeff Bezos, and Warren Buffett could pay nothing in income taxes to the federal government? What sneaky sleights of pen, what subterfuge, what acts of turpitude could have led to this result?
The shock stems, in part, from a disturbing reality: Nowhere does ProPublica assert that these men cheated, lied, or did anything felonious to lower their tax burdens. The naked fact of the matter is that not a single one of the documented methods and practices that allowed these billionaires to so radically minimize their tax obligations was illegal.
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18 Reasons Why You Should Be Using Your Credit Cards More
.18 Reasons Why You Should Be Using Your Credit Cards More
Your card can earn you cash back, rewards and more perks.
By Gabrielle Olya
For a piece of plastic, a credit card can be a very powerful thing. Not only does it make shopping seamless, but many credit cards also come with a number of perks, including ways to save money on purchases and added consumer protections. As long as you are a responsible credit card user without outstanding debt, there’s no reason why you shouldn’t use your credit card to pay for almost everything.
It Helps You Build Credit
Your credit score is based on a number of factors, including your repayment history, the length of your credit history and your credit utilization. Responsible credit card use — which includes making on-time payments, keeping credit cards open for long periods of time and only using a small percentage of your available credit — will help your credit score to rise.
18 Reasons Why You Should Be Using Your Credit Cards More
Your card can earn you cash back, rewards and more perks.
By Gabrielle Olya
For a piece of plastic, a credit card can be a very powerful thing. Not only does it make shopping seamless, but many credit cards also come with a number of perks, including ways to save money on purchases and added consumer protections. As long as you are a responsible credit card user without outstanding debt, there’s no reason why you shouldn’t use your credit card to pay for almost everything.
It Helps You Build Credit
Your credit score is based on a number of factors, including your repayment history, the length of your credit history and your credit utilization. Responsible credit card use — which includes making on-time payments, keeping credit cards open for long periods of time and only using a small percentage of your available credit — will help your credit score to rise.
You Might Be Able To Get a Sign-On Bonus
If you just opened a new credit card, making purchases with it can earn you a major sign-on bonus. This could be a cash bonus, extra rewards points or extra cash back. For example, the PenFed Gold Visa® Card gives new cardholders a $100 statement credit when they spend $1,500 within the first 90 days. If you normally spend that much, it can be worth considering this card to get the statement credit.
It Protects You From Fraud
Fraudulent purchases made with your credit card can be easily disputed. Things aren’t so seamless with debit cards when the money is taken from your account and must be recovered. Using credit cards can give you that extra peace of mind from knowing that you won’t be out any money in the case of theft or fraud.
You Can Rack Up Reward Points
Why not get rewarded for the purchases you would be making anyway? Many credit cards allow you to earn reward points for every dollar you spend, which can then be redeemed for travel rewards, gift cards, merchandise and more, depending on the card.
They Make It Easy To Track Your Spending
It’s hard to keep track of payments you make in cash, but when you pay for purchases with a credit card, it’s very easy to see how much you are spending on what. This can help you to easily track your cash flow and see areas where you might be spending too much.
To continue reading, please go to the original article here:
https://www.gobankingrates.com/credit-cards/advice/reasons-should-using-credit-cards/
The Ultimate Financial Planning Guide: Do It Like the Pros in 6 Steps
.The Ultimate Financial Planning Guide: Do It Like the Pros in 6 Steps
A financial plan goes beyond budgeting for regular expenses. It’s the process of managing short- and long-term finances. Taking good financial planning steps now can mean the difference between achieving your financial goals and living paycheck to paycheck.
Certified Financial Planners follow a set of steps to create recommendations for their clients. With some modifications, you can use the same process to develop your own financial plan.
The Ultimate Financial Planning Guide: Do It Like the Pros in 6 Steps
A financial plan goes beyond budgeting for regular expenses. It’s the process of managing short- and long-term finances. Taking good financial planning steps now can mean the difference between achieving your financial goals and living paycheck to paycheck.
Certified Financial Planners follow a set of steps to create recommendations for their clients. With some modifications, you can use the same process to develop your own financial plan.
What Are the 6 Steps in the Financial Planning Process?
Here are the six steps in the financial planning process, according to the Certified Financial Planner Board of Standards:
You may see variations with lists of five or seven steps, but the underlying principles are the same. Any of these lists of financial planning steps can be a model for your own personal financial plan.
Step 1: Set Your Financial Goals
The financial planning process starts when the planner establishes a relationship with you to learn about your goals, lifestyle and values. It’s worth the time to explore these ideas on your own.
When you’re working toward a specific goal, you’re more likely to stick to habits that will get you there. Take some time to think about the financial goals you want to reach. Here are some to consider.
Financial Goals To Consider
Buy a house.
Pay for your children’s college education.
Go on a dream vacation.
Fund your retirement.
Start a business.
Get out of debt.
You can — and should — have short and long-term goals. If something is important to you, write it down
Step 2: Put a Price Tag on Your Goals
In the first step, you identified the goals you want to achieve in the future. Next, figure out how much you’ll need to save to accomplish your goals.
To continue reading, please go to the original article here:
The 12 Most Controversial Price Hikes of the Last Year
.The 12 Most Controversial Price Hikes of the Last Year
Prices have soared for possible treatments and in-demand items.
By Gabrielle Olya March 12, 2021
When former President Donald Trump was ill with COVID-19, he was administered several different treatments to relieve his symptoms and shorten the course of his illness. These included Regeneron's investigational monoclonal antibody therapy, antiviral drug remdesivir, corticosteroid drug dexamethasone, supplemental oxygen, zinc, vitamin D, famotidine, melatonin and daily aspirin, CNN reported.
After the details of Trump's treatment were reported, shares of Regeneron Pharmaceuticals leaped almost 10%, Business Insider reported. And the cost of his remdesivir treatment? A cool $3,120 for the five-day treatment course -- a price that has been met with mixed reactions since its maker Gilead Sciences announced it in June.
While the price of Trump's miracle drug is already high, it's not the only costly item of the pandemic.
The 12 Most Controversial Price Hikes of the Last Year
Prices have soared for possible treatments and in-demand items.
By Gabrielle Olya March 12, 2021
When former President Donald Trump was ill with COVID-19, he was administered several different treatments to relieve his symptoms and shorten the course of his illness. These included Regeneron's investigational monoclonal antibody therapy, antiviral drug remdesivir, corticosteroid drug dexamethasone, supplemental oxygen, zinc, vitamin D, famotidine, melatonin and daily aspirin, CNN reported.
After the details of Trump's treatment were reported, shares of Regeneron Pharmaceuticals leaped almost 10%, Business Insider reported. And the cost of his remdesivir treatment? A cool $3,120 for the five-day treatment course -- a price that has been met with mixed reactions since its maker Gilead Sciences announced it in June.
While the price of Trump's miracle drug is already high, it's not the only costly item of the pandemic.
Chloroquine
Before he got the coronavirus, Trump stated in May 2020 that he was taking daily doses of the antimalarial drug hydroxychloroquine, which he touted as a potential coronavirus cure despite warnings from medical experts and the Food and Drug Administration that it might not be effective and could have potentially harmful side effects, CNN reported. President Joe Biden criticized Trump for taking the drug, calling it “totally irresponsible” during a virtual town hall on May 19.
“There’s no serious medical personnel out there saying to use that drug. It’s counterproductive. It’s not going to help,” Biden said.
In addition to influencing others to take a potentially ineffective drug, Trump’s use of hydroxychloroquine may have had another effect — a price increase for the pharmaceutical. Chloroquine -- the drug from which hydroxychloroquine is derived -- saw price increases during the same period, GoodRx reported.
Entacapone
Entacapone is another medication that's being investigated as a treatment for the coronavirus. It also saw a price increase in 2020, GoodRx reported.
Mytesi
On April 9, 2020, Mytesi -- a drug used to treat HIV -- increased in price by 230% as the manufacturer sought approval from the FDA for use as a treatment for the coronavirus patients with diarrhea, GoodRx reported. The FDA did not approve Mytesi for this use, but its manufacturer is continuing to evaluate its effectiveness against the coronavirus.
Hand Sanitizer
Some sellers on Amazon have resold hand sanitizer for huge markups. One seller, Matt Colvin, was selling bottles for up to $70 each, The New York Times reported. Amazon cracked down on price gouging soon after, and his items were removed from the site.
To continue reading, please go to the original article here:
https://www.gobankingrates.com/saving-money/shopping/controversial-coronavirus-price-hikes/
Americans’ Biggest Financial Regrets of the Decade
.Americans’ Biggest Financial Regrets of the Decade
Laura Woods Tue, June 29, 2021
The old saying often rings true — hindsight is 2020. Everyone makes mistakes, and many of these blunders involve money. Many financial decisions seem like a good idea in the moment, but a few weeks, months or even years later, you realize they weren’t the best choice.
A 2019 survey conducted by Policygenius highlights Americans’ biggest financial regrets of the decade. If you’ve ever made a major purchase you regret or opted to spend money when you should’ve been saving — admit it, you have — you’re not alone. The good news is, financial mishaps can be corrected. If you’re willing to make meaningful changes, you can get yourself out of an uncomfortable financial situation. This might involve making tough sacrifices and/or working extra hours, but it’ll be worth it in the end.
Americans’ Biggest Financial Regrets of the Decade
Laura Woods Tue, June 29, 2021
The old saying often rings true — hindsight is 2020. Everyone makes mistakes, and many of these blunders involve money. Many financial decisions seem like a good idea in the moment, but a few weeks, months or even years later, you realize they weren’t the best choice.
A 2019 survey conducted by Policygenius highlights Americans’ biggest financial regrets of the decade. If you’ve ever made a major purchase you regret or opted to spend money when you should’ve been saving — admit it, you have — you’re not alone. The good news is, financial mishaps can be corrected. If you’re willing to make meaningful changes, you can get yourself out of an uncomfortable financial situation. This might involve making tough sacrifices and/or working extra hours, but it’ll be worth it in the end.
Here’s a look at the top financial regrets, along with advice to help make the problem a thing of the past.
1. . Credit Card Debt
Credit card debt can easily creep up on you. Whether you need to swipe the plastic to pay an unplanned expense or get tempted by something fun — i.e., an expensive pair of shoes or a big screen TV — racking up unpaid balances adds up fast.
One-quarter (25.1%) of people ages 35 and up cite incurring credit card debt as their biggest regret of the decade. Slightly lower, 21.5% of people ages 18 to 34 share this sentiment.
How To Tackle Credit Card Debt
If you have credit card debt, you’re in good company. Consumer credit card debt reached a record-high of $829 billion in 2019, according to Experian. Additionally, retail credit card debt totaled a record-breaking $90 billion.
Now is the time to stop being weighed down by credit card debt. If you’re ready to take action, total up all of your balances, so you know where you stand. Then decide if you’d like to take the avalanche approach — paying the highest interest cards first — or the snowball approach — paying the lowest balance first.
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https://finance.yahoo.com/news/americans-biggest-financial-regrets-decade-220036381.html