Tag Archives: How To Make It

How To Calculate What To Save And What To Spend

**How To Calculate What To Save And What To Spend**



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Sallie Krawcheck, co-founder and CEO of Ellevest and a former Wall Street executive, breaks down a simple formula to help you figure out how much of your income you should spend and save.

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How To Calculate What To Save And What To Spend
even if you don't know what your goals are try to start as soon as you can and what you should shoot for is of your take-home pay 50% of it should go to needs it's your rent that's the car that you need to drive to work that's your work wardrobe 30% to fun because we're only on this earth a short amount of time we need to have fun and 20% goes to future you whether that's grandma Esther you or whether that's 10 years from now buy the home you beginning to sock that away now for a lot of folks that can be difficult to get to so start with 1% goes to future you 2% do what you can start where you are but you know support grandma Esther in some way because you know at some point you're not gonna be able to support yourself

Easy Ways To Save On Insurance | CNBC Make It.

**Easy Ways To Save On Insurance | CNBC Make It.**



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NerdWallet lays out seven ways to save on homeowners insurance to get the protection you need at a better price.
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Easy Ways To Save On Insurance | CNBC Make It.
tip number one bundle your auto and home insurance policies many providers such as estate progressive and American family offer discounts which could save you as much as twenty percent tip number two make your home more secure you can qualify for cheaper rates by upgrading systems like plumbing and electrical or by adding features that make your house tougher to penetrate like storm shutters and deadbolt doors tip number three look for more obscure discounts simply setting up automatic bank payments or being a new homeowner could qualify you for discounts so make sure you ask tip number four raise your deductible a common deductible is between 500 and a thousand bucks making that number higher could bring your rate lower tip number five shop around since your provider may no longer be offering the best deals it always pays to browse around and compare you

How To Save Money And Spend Guilt-Free With Ramit Sethi | Better | NBC News

**How To Save Money And Spend Guilt-Free With Ramit Sethi | Better | NBC News**



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Here’s how to hit your savings goals while still spending guilt-free, according to Ramit Sethi, bestselling author of “I Will Teach You to Be Rich.”
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How To Save Money And Spend Guilt-Free With Ramit Sethi | Better | NBC News
no I'm not gonna tell you to keep a budget you don't need to most budgets are backwards looking you're looking at what you spend in the last month you're probably feeling guilty about it I have a different approach instead of looking backwards I want to look forward I want to think about where my money should go I want to set up the systems to automatically make it happen and then I want to live my life guilt-free and spend extravagantly on the things I love as long as I cut costs mercilessly all the things I don't I call this a conscious spending plan all of us have different things that we intuitively love spending money on some people want to have a beautiful apartment or a really nice car other people want to travel one month a year all of these things are totally valid but we all choose our own rich life here's a really simple way to look at where your money should be going 50 to 60 percent of your take-home money should generally be going to fixed costs these are things like your rent your mortgage your utilities at a minimum 10 percent should be going to investments these are long-term retirement investments next is short-term savings goals this is where five to ten percent of your money will go and these are things like saving for a down payment on a house gifts or a vacation and finally this is my favorite part twenty to thirty five percent goes to guilt-free spending this is eating out at restaurants buying new clothes taking your friends or family out with you on vacation whatever you want for your rich life that's where this money goes so I gave you these rules of thumb how do you create your conscious spending plan well I want to introduce something called the think want do technique just take a blank piece of paper and write down how much you think you are spending in each of these categories write down how much you want to spend in these categories and then the third part is to find out how much you actually do spend in these categories so take a look at your spending over the last 30 days find out how much money is going to your fixed costs versus your investments savings and finally guilt-free spending and now you are going to know what type of changes you need to make to flow the money for your conscious spending plan don't apologize if you have something you absolutely spending on use your guilt-free spending to unapologetically pay for the things you love but make sure that the rest of your conscious spending plan is hitting those numbers after you've done this exercise you might find that you're overspending in a couple of areas that you want to cut back down that's totally normal for me it's travel and clothes so narrow it down there try to make your changes to those big areas and don't worry about all the other stuff you can tackle that stuff later one way you can do this is to use the envelope method the envelope method can literally beat physical envelopes that you fill with cash at the beginning of a month and you say this is my guilt-free spending money once it's gone it's gone that will train you on how to correct your spending behavior you can also do this virtually through checking accounts and debit cards whatever you choose just remember to pick those couple of areas that you really want to target and cut your spending gradual imagine waking up in the morning knowing that your money is going where you want it to go and the money that you have available to you is guilt-free a conscious spending plan allows you to create your rich life and to never have to apologize for spending on the things you love hey NBC News viewers thanks for checking out our YouTube channel subscribe by clicking on that button down here and click on any of the videos over here to watch the latest interviews show highlights and digital exclusives thanks for watching

How To Manage Credit Card Points And Debt

**How To Manage Credit Card Points And Debt**



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Chris Hutchins has over 10 million credit card points. He started his journey more than a decade ago with an initial goal of 1 million points. For Chris and his wife Amy, credit card rewards allow him to indulge in travel, something he loves but would never otherwise splurge on. Here are his top 3 tips for managing credit cards.

1) Pay off your credit cards in full each month. Chris stresses that before getting into the credit card rewards game you should make sure you’re comfortable paying your debt off in full every month. According to Chris and other personal finance experts, “There’s no amount of points that is worth taking on interest payments for your credit cards. Most of these points earning credit cards have pretty high interest rates.”

2) Don’t overspend just to earn points. According to Chris, “earning credit card points isn’t free,” but assuming you’re already spending money and you aren’t spending more than you would to get points you are getting a return over spending with a debit card or cash.

3) Don’t close older credit cards. Two factors that impact your credit score are the amount you’re spending relative to the total amount of credit available and the average age of your accounts.

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How To Manage Credit Card Points And Debt
I think credit card rewards the magic is finding the thing that you care about that you can use them to maximize so before anyone gets into the points game if you will make sure you are comfortable with paying down your credit cards and paying them off in full each month there's no amount of points that is worth taking on interest payments for your credit cards most of these points are any credit cards have pretty high interest rates and so if you can't pay the bills at the end of the month no points are worth it earning points is not free in that you have to spend money but to the extent you're already spending money and you're not increasing the amount you're spending in order to get more points and you're spending within your means and you're not you know going overboard okay you are getting three points and that you know if you just use your debit card you would not be getting anything and if you use your credit card with points you would be getting something but if you go buy a bunch of stuff you don't need just to earn more points you're actually gonna be sometime when you open up a new card you end up having more total credit and so your utilization or the amount of dollars you're spending relative to the total amount of credit you have actually ends up going down because you have a much bigger denominator in terms of more credit so more cards actually helps you in a couple camps but you know other factors like having an average history if you open up three new cards that are all you know one month old it really brings down the average age of your credit history having a few cards for a really long time and keeping those cards around because they help improve your average history is is helpful so when you open up a new card don't close your oldest card to get your new card maybe downgrade it to a card with no fee even if you're not using it

How To Spend The Money From Your First Job

**How To Spend The Money From Your First Job**



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“The first thing you need to do is pay yourself first,” says co-founder of AE Wealth Management and best-selling author David Bach. For Bach, this means you …