Personal finance
He saved 70% of his income to retire at 34—why he’s no longer ‘hyper-frugal’: I ‘got into deprivation’ and wasn’t happy
Brandon Ganch, known online as the MadFientist, retired in 2016 at just 34 by saving aggressively and keeping his spending lean. While he doesn’t regret the wealth built by his “hyper-focus” on saving 70% of his income, “I could have taken my foot off the gas knowing what I know now,” he told host Paula […]
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Experts say high food prices are here to stay. Here’s why
Inflation has steadily cooled over the past two years, despite seeing a slight stall in October and November. Prices for items such as gasoline, used cars and energy have all declined accordingly. However, food prices continue to outpace inflation, increasing by 28% since 2019. More than 85% of consumers report feeling frustrated with rising grocery […]
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Why it’s time to tweak your investments after lofty stock returns in 2024
D3sign | Moment | Getty Images Stocks soared in 2024. Congratulations! After taking a victory lap, it may be time to adjust your portfolio — because those heady returns likely threw your investment allocations out of whack. The S&P 500, a stock index of the largest public U.S. companies by market capitalization, gained 23% in […]
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Best balance transfer cards with 0% APR of January 2025
Discover APRs are accurate as of December 12, 2024 Credit cards have notoriously high interest rates, so carrying a balance can be costly. However, some cards offer a path to paying off debt quicker with an introductory 0% APR period. These cards offer no interest for up to 21 months, which can more than offset […]
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Millennial saved over $60,000 and bought her first home by 25 — here’s how she did it
Kennie Bukky, co-founder of The Pivot Place Courtesy of Kennie Bukky One millennial managed to save enough money to buy her own property by the age of 25, despite the gloomy economic landscape facing young people. Kennie Bukky, a U.K. based professional who’s under 30, is a compliance officer who has worked at firms including […]
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5 advisors offer important tips for managing your money in 2025
Key Points Financial stability is top of mind for many Americans heading into 2025. Five financial planners on CNBC’s Advisor Council discuss the financial resolutions households should target next year. Source
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Exchange-traded funds have a ‘tax magic’ that many mutual funds don’t offer
ETF Strategist Exchange-traded funds have a ‘tax magic’ that many mutual funds don’t offer Published Mon, Dec 30 20242:30 PM EST Greg Iacurci@GregIacurci WATCH LIVE Source
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Treasury small business ownership rule on hold as court eyes constitutionality
Key Points Small businesses had been required to report “beneficial ownership information” to the Treasury Department by Jan. 13, 2025, or risk financial penalties. The 5th U.S. Circuit Court of Appeals issued an order late on Dec. 26 that halted enforcement. It comes just days after a previous delay, from Jan. 1. Businesses aren’t required […]
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‘Seeing through debt-colored glasses.’ Author details main character being trapped in credit card debt
J Studios | Digitalvision | Getty Images In Saïd Sayrafiezadeh’s fictional short story, “Minimum Payment Due,” the main character is trapped in credit card debt and desperate for a way out. The fact that the experience is common — more than a third, or 38%, of adults in the U.S. have credit card debt, according […]
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If interest rates remain ‘higher for longer,’ the winners are those with cash accounts
Key Points The Federal Reserve in December projected fewer interest rate cuts for 2025. Yields on high-yield savings accounts, money market funds, certificates of deposit and other cash-like accounts should benefit from this “higher for longer” rate environment. Source
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