Tag Archives: Make It – Power Players

This Is Kevin O'Leary's Financial Deal Breaker In Relationships

**This Is Kevin O'Leary's Financial Deal Breaker In Relationships**



Views:

Rating:

View Time:Minutes

Likes:[vid_likes]

Dislikes:[vid_dislikes]

This one thing will make or break your relationship. » Subscribe to CNBC Make It.: For Kevin O’Leary, finance guru and star of ABC’s “Shark …

Kevin O'Leary: 2 Simple Ways To Save Money

**Kevin O'Leary: 2 Simple Ways To Save Money**



Views:15044

Rating:4.82

View Time:1:35Minutes

Likes:375

Dislikes:14

‘Shark Tank’ star Kevin O’Leary shares what “I’ve learned to do, and what has really helped me in maintaining growth in my own personal investing….”

» Subscribe to CNBC Make It.:

Saving is a cornerstone of financial health, but not everyone believes they can do it. In fact, a new CNBC Invest In You and Acorns Savings Survey of more than 2,300 Americans found that over a third of respondents said they don’t make enough money to meet their needs and save. And a Bankrate survey found one in five respondents (21 percent) don’t save any of their annual income.

But according to “Shark Tank” star and financial expert Kevin O’Leary, most people waste money, even if they don’t realize it, and that’s where you can find money to save and even invest.

“The truth is, there is a lot of crap you don’t need,” O’Leary told CNBC Make It. “What I’ve learned to do, and what has really helped me in maintaining growth in my own personal investing is, anytime I pick up something I’m going to buy, I say to myself, ‘Do I really need this?’

“Because if I don’t buy it, the money is going to be invested and make money every year for me while I’m sleeping.”

With April marking Financial Literacy Month, here are O’Leary’s tips on where to find savings.

Skip the Starbucks

O’Leary certainly has the means to afford a latte or two, but he doesn’t buy them, ever. O’Leary says he refuses to pay for non-essentials like takeout coffee, even if does just cost a few dollars.

“Do I pay $2.50 for a coffee? Never, never, never do I do that,” O’Leary tells CNBC Make It. “That is such a waste of money for something that costs 20 cents. I never buy a frape-latte-blah-blah-blah-woof-woof-woof for $2.50.” Instead, he makes it at home.

“I drink coffee, one cup every morning,” he explains. “It costs about 18 cents to make it, and I invest the rest.”

Streamline your wardrobe

“I think about all the crap I bought that I never used. I mean it’s amazing,” O’Leary tells CNBC Make It. “All the shoes, all the pants, all of the shirts that I never wore after the first time I bought them.

“What a waste of money.”

“I could have had that money making 7 or 8 percent in perpetuity” by investing it, he says.

O’Leary streamlined his shoe collection down to just the staples: Two pairs of Prada shoes, a pair of flip flops and a pair of sneakers for working out. As for his wardrobe, O’Leary says he wears just 20 black suits, with 20 black ties and 20 white shirts. He recommends others cut back on the amount of clothing they have, too.

“So if you’re 20 — listen to what Mr. Wonderful is saying here — you don’t need 50 shirts,” he says. You only need a handful of essentials, which he says includes six t-shirts, three pairs of jeans and three baseball caps.

Don’t splurge on your wedding

While finding little ways to save money day to day can certainly add up, forgoing a big, expensive splurge can have a major impact on your finances.

With the national average cost of a wedding at $33,931, according to a 2018 survey from The Knot, it’s a great place to cut back. It’s the reason O’Leary opted for pizza and beer at his wedding. O’Leary used the thousands he saved to invest and grow his business.

“I know it sounds romantic to spend a lot of money — it’s crazy to do that,” O’Leary says.

“Forget about spending a fortune, you don’t need a white dress for $22,000,” O’Leary says. “Save your money, invest it and later you can take everybody out for a great time on the interest you’re making off your bonds and the dividends your stocks are paying.”

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online
Get the latest updates:
Find CNBC Make It. on Facebook:
Find CNBC Make It. on Twitter:
Find CNBC Make It. on Instagram:
Find CNBC Make It. on LinkedIn:

#CNBC
#CNBCMakeIt
#KevinOLeary

‘Shark Tank’ star Kevin O’Leary: Here are 3 simple ways to save extra money | CNBC Make It.
do I pay 250 for coffee never never do I do that never that's such a waste of money for something that cost 20 cents I never buy a frappe latte bye bye bye woof woof woof for 250 that's such a waste of money I drink coffee one cup every morning it cost about 18 cents to make it and I invest the rest when you're getting married and you're starting out the worst thing you can do is put yourself in debt for your wedding I know it sounds romantic to spend a lot of money it's crazy to do that at my wedding I had no money and I said to my wife why go in debt let's invite our friends over let's buy a few cases of beer and I'll order some pizza and we'll have a great time and that's exactly what happened we saved a fortune I was able to put it into my business and start growing it I don't like to see people spend hundreds of thousands of dollars thinking that they have to do that for their friends the best thing you can do for your friends is have a party have a good time and talk about your future together but forget about buying that ring forget about spending a fortune you don't need a white dress for $22,000 none of that stuff save your money invest it and later you can take everybody out for a great time on the interest you're making off your bonds and the dividends your stocks are paying

Kevin O'Leary: Make This Your New Year's Resolution

**Kevin O'Leary: Make This Your New Year's Resolution**



Views:10920

Rating:4.82

View Time:1:6Minutes

Likes:266

Dislikes:10

The start of a new year is more than just an opportunity to pop some bubbly. It also serves as a fresh slate; a time to set new goals and and create a game plan to execute them.

But there’s one aspect of your life you should prioritize before everything else, according to Kevin O’Leary, star of ABC’s “Shark Tank.”

“The No. 1 resolution you should make on New Year’s Eve, and this is No. 1, is to pay down your debt,” says O’Leary. “That is the most important thing you can do for your future.

» Subscribe to CNBC Make It.:

“Of course you want health and happiness, and everybody wants everybody to have that,” he adds. “But in terms of taking care of your family and you, paying down your debt is No. 1.”

“If you want to find financial freedom, you need to retire all debt — and yes that includes your mortgage,” the personal finance author and co-host of ABC’s “Shark Tank” previously told CNBC Make It.

To demolish your debt more quickly, O’Leary recommends crafting a plan to speed up principal payments on your debt, whether that be on your mortgage, a student loan debt or credit card debt. If you have mountains of different kinds of debt, O’Leary advises tackling your credit card debt first, because that’s typically the debt with the highest interest rates. (The average card APR is over 17 percent, according to CreditCards.com.)

“New Year’s Eve, you look at your credit card and you say to it, ‘I’m paying off your balance buddy, and I’m going to do that before July,’” O’Leary says. “Make that a New Year’s resolution.

“You will thank Mr. Wonderful for that, believe me. It will make you way better off in the back end of the year.”

So what about O’Leary, who already hates debt and is a self-made multimillionaire? His personal New Year’s resolution is different.

“Here’s my New Year’s resolution,” he tells CNBC Make It. “I want to make more money next year than I made this year.”

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online
Get the latest updates:
Find CNBC Make It. on Facebook:
Find CNBC Make It. on Twitter:
Find CNBC Make It. on Instagram:
Find CNBC Make It. on LinkedIn:

#KevinOLeary
#NewYearNewMe
#NewYearsResolution

Kevin O’Leary: Making this New Year’s resolution is the best thing you can do for your future | CNBC Make It.
the number one resolution you should make on New Year's Eve and this is number one is to pay down your debt that is the most important thing you can do for your future of course you want health and happiness and everybody wants everybody to have that but in terms of taking care of your family and you paying down your debt is number one make a plan to accelerate your principal payments on your mortgage and your student debt or whatever other debts you've got particularly credit card debt you want to get rid of that first that's the highest interest rate New Year's Eve you look at your credit card and you say to it I'm paying off your balance buddy and I'm gonna do that before July make that be New Year's resolution you will thank mr. wonderful for that believe me it'll make you way better off in the back end of the year