13 Simple Ideas To Stretch Your Money And Beat High Inflation
.13 Simple Ideas To Stretch Your Money And Beat High Inflation
Ethan Rotberg Tue, October 19, 2021
The pandemic has sparked shortages of goods and workers that have pushed inflation to its highest levels in decades. But you've already seen what that looks like, if you recently bought groceries, gassed up your car or went shopping for furniture or a new TV. Prices are surging, and don't look for relief anytime soon. Various forecasts anticipate that stiff inflation will hang around into the new year.
One strategy for fighting back against rising prices is to take advantage of some simple ways to make and save more money in your daily life.
The Biggest Money Mistake You’re Probably Making
.Finance Pro Rachel Cruze Shares the Biggest Money Mistake You’re Probably Making
Rob Poindexter Mon, October 18, 2021, 3:00 PM·3 min read
Rachel Cruze is a personal finance expert and the author of “Know Yourself, Know Your Money.” She is also the host of “The Rachel Cruze Show,” where she shares practical tips to save more money, get out of debt quickly and make progress toward your financial goals.
Recognized by GOBankingRates as one of Money’s Most Influential, here she shares why she believes having a budget is the key to financial freedom, why taking on debt is the biggest money mistake you can make and how to get out of debt ASAP.
Where Do Millionaires Keep Their Money?
.Where Do Millionaires Keep Their Money?
Rosemary Carlson Mon, October 18, 2021
Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. Most of the 20.27 million millionaires in the U.S. did not inherit their money; only about 20% inherited their money.
More than two-thirds of all millionaires are entrepreneurs. Here are some of the places the genuinely rich keep their money. Whether you’re a millionaire or not, a financial advisor can help you take significant steps toward achieving your goals.
25 Secrets Elon Musk and Every Other Rich Person Knows
.25 Secrets Elon Musk and Every Other Rich Person Knows
Gabrielle Olya Sun, October 17,
If it seems like the rich know something about money that the rest of us don't, it's probably because they do. There must be some reason the richest 1% of people now hold more than 40% of the world's wealth, according to the Credit Suisse Global Wealth Report. Maybe the rich have certain secrets to accumulating wealth -- but that doesn't mean what they know has to remain a mystery. Learn about strategies that you can use so you can build your own wealth, too.
Spending Must Align With Goals
One of the keys to being rich is having goals, said Michael Kay, president of Financial Life Focus and author of "The Feel Rich Project."
21 Life Hacks From Warren Buffett That Anyone Can Use
21 Life Hacks From Warren Buffett That Anyone Can Use
Ashley Redmond Fri, October 15, 2021
You don't get to be one of the richest people in the world without knowing something the rest of us don't. Often referred to as the Oracle of Omaha, Warren Buffett has a net worth of $102.2 billion, according to Forbes.
While Buffett is unquestionably a genius when it comes to business, his words of wisdom aren't just good for finding a hot investment. In fact, there are many Warren Buffett tips that anyone can use.
Learn how you can apply Buffett's tips and hack your way to a wealthier life.
1. Decide That You’re Going To Be Rich
In order to be rich, you have to believe that one day you will be. According to the Huffington Post, Buffett once reportedly said, "I always knew I was going to be rich. I don't think I ever doubted it for a minute."
What To Do if You Lose Your Wallet
.What To Do if You Lose Your Wallet
Sam DiSalvo Fri, October 15, 2021
We’ve all been there: that pang of anxiety when you can’t find your wallet. Maybe you left it somewhere. Maybe it was stolen. Either way, it’s gone and you need to figure out what to do next. Take a deep breath. All is not lost. There are some key steps you can take to start recovering what you need to.
Notify Your Bank & Credit Card Companies
Do this immediately upon realizing you lost your wallet. If you wait more than 24 hours, you might have to pay for charges you didn’t make. Often, the first thing thieves will do is start seeing if they can put your cards to use. Notifying your bank and credit card companies immediately stops that at the pass, and ensures you won’t be on the hook for any of their charges.
Here's When The IRS Can Check Out My Bank Account
.Here's When The IRS Can Check Out My Bank Account
Rick Newman ·Senior Columnist Wed, October 13
Let’s say I hire a contractor to do a project on my house, and he asks for payment in cash. It would be cheaper than if I wrote a check, and we both know why: Cash leaves less of a paper trail and the contractor might not report it as income. If he doesn’t have to pay income tax on the money, he’ll share some of the savings with me.
This type of gray-market transaction happens all the time, every day. Parents pay babysitters and nannies in cash. Waiters earning tips report a fraction of what they take home as taxable income. People selling used cars slash hundreds or thousands off the agreed price on the bill of sale they submit to the state, so the buyer pays less in sales tax.
Why Does The Government Want to Know How Much is in Your Bank Account?
.Why Does The Government Want to Know How Much is in Your Bank Account?
Vance Cariaga Thu, October 14, 2021,
If you’re concerned that the U.S. government wants to monitor your bank account, you’re not alone. Plenty of lawmakers, consumers and banking trade groups are pushing back against the idea, which was proposed in May by the Treasury Department as part of its budget request.
But the government has its reasons for such a proposal, and they mainly have to do with President Joe Biden’s desire to crack down on unpaid taxes, mostly from wealthy Americans and big businesses. Those unpaid taxes total about $7 trillion, The New York Times reported, and the Biden administration wants that money to help fund social and economic programs.
Fortify Your Finances Against Natural Disaster
.Fortify Your Finances Against Natural Disaster
Liz Weston of NerdWallet Mon, October 11, 2021,
Emergency preparedness experts recommend that you have a “go bag” and a “stay bin” for disasters: kits with supplies to help you survive a few days if you have to evacuate your home or shelter in place.
Preparing your finances for natural disasters is also smart. Having cash on hand, access to credit and the right insurance coverage can help you get through perilous times. Fortifying your home against disasters also can be a good investment. Not everyone can make these preparations, of course. People with the fewest resources often suffer the brunt of disasters. But anything you can do to bolster your situation now could help you limit the toll.
An Unhealthy Obsession With Money
.An Unhealthy Obsession With Money
Posted October 6, 2021 by Ben Carlson
One hundred dollars invested in Berkshire Hathaway in 1965 would have grown to more than $2.8 million by the end of 2020. Warren Buffett’s holding company is the most impressive long-term compounding machine in history, increasing in market value at 20% per year for nearly 6 decades. Compounding is a wonderful thing but it can also become an unhealthy obsession if you view every financial decision through that lens.
In Buffett: The Making of an American Capitalist, Roger Lowenstein tells a story from Buffett’s friend and former business partner Katherine Graham when she was publisher of the Washington Post.
The End Of Physical Currency, Cash, Is Certainly Drawing Near': Economist
.The End Of Physical Currency, Cash, Is Certainly Drawing Near': Economist
Ihsaan Fanusie Thu, October 7, 2021
In this article: Eswar Prasad American economist
Physical currency and hard cash may soon be a thing of the past, Eswar Prasad, Cornell University economics professor and author of "The Future of Money" told Yahoo Finance Live.
“The end of physical currency, cash, is certainly drawing near, and cryptocurrencies, including bitcoin (BTC-USD), have certainly paved the way for that revolution,” Prasad said. The digitalization of transactions has been well underway for the past few decades, but serious discussions regarding a fully-digital dollar are relatively new.
The prospect of a central bank digital currency (CBDC) in the U.S. has gained traction in 2021, with the Fed reportedly planning to begin a review process of the costs and benefits associated with CBDCs as soon as next week.