This 37-year-old makes up to $3,200 per month in side hustle income—and works just 20 hours a week

So it makes sense that their ideal side hustle — baking and selling gluten-free bread at farmers markets — feels theatrical. Even baking the bread, loading up the van, getting everything set up so everyone can go to the market — it’s theater.” It’s also lucrative: At the pop-up bakery Super Bloom, Boucai earns roughly $20 per hour, pulling in between $250 and $300 each week. That’s a total of up to $3,200 per month in side hustle income, more than three times their $1,000 monthly rent. ‘Being pa


So it makes sense that their ideal side hustle — baking and selling gluten-free bread at farmers markets — feels theatrical.
Even baking the bread, loading up the van, getting everything set up so everyone can go to the market — it’s theater.”
It’s also lucrative: At the pop-up bakery Super Bloom, Boucai earns roughly $20 per hour, pulling in between $250 and $300 each week.
That’s a total of up to $3,200 per month in side hustle income, more than three times their $1,000 monthly rent.
‘Being pa
This 37-year-old makes up to $3,200 per month in side hustle income—and works just 20 hours a week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: alizah salario
Keywords: news, cnbc, companies, week, incomeand, month, 37yearold, bread, theater, boucai, baking, super, glutenfree, good, 3200, makes, hustles, hustle, works, hours


This 37-year-old makes up to $3,200 per month in side hustle income—and works just 20 hours a week

L.A.-based writer, director, and performance artist M.B. Boucai loves putting on a good show. So it makes sense that their ideal side hustle — baking and selling gluten-free bread at farmers markets — feels theatrical. “Running a pop-up business is no different than directing or producing a play,” says Boucai, who uses they/them pronouns. “Every week you set up your tent, you take it down, you have a game plan [but] you never know what the given circumstances are going to be. … Even baking the bread, loading up the van, getting everything set up so everyone can go to the market — it’s theater.” It’s also lucrative: At the pop-up bakery Super Bloom, Boucai earns roughly $20 per hour, pulling in between $250 and $300 each week. Boucai makes another $300 to $500 each week from acting lessons, charging anywhere from $40 per hour for beginners up to $80 for professionals. That’s a total of up to $3,200 per month in side hustle income, more than three times their $1,000 monthly rent. More from Grow:

9 highest-paying jobs that don’t require a bachelor’s degree

3 side hustles that could earn you more than $1,000 a month

The 5 fastest-growing jobs in the US—and how much they pay “At this point, my side hustles are my income,” says Boucai.

From baking for friends to rolling in dough

In December 2018, when Boucai moved to Los Angeles, they were looking for a flexible side gig that afforded them the time to focus on creative pursuits. Boucai, who holds a Ph.D. in performance studies from the University of California, Berkeley, had previously held a full-time job as a theater director at an arts nonprofit in Providence, Rhode Island, in addition to various writing and editing side hustles. In Hollywood, they were hoping to break into TV writing — and meanwhile needed to earn enough money to get by in one of America’s most expensive cities. The self-described extrovert says that the “alone-in-my-room, writing/editing side hustles” never quite fit. But when Boucai connected with the owners of a gluten-free bakery at a series of backyard barbecues though mutual friends, they tapped into a completely different set of skills.

Video by David Fang Boucai’s father, a chef and restaurateur, had instilled in them a passion for cooking. They brought homemade hummus, baba ganoush, and other dips and mezes inspired by their Syrian heritage to the barbecues, impressing new friends. Knowing Boucai had a knack in the kitchen, the owners of Super Bloom — known for its $14 gluten-free sourdough loaf and $16 paleo-friendly super seed loaf — asked them to help out in a pinch. “They said, ‘Can you make pita?’ Of course I can make pita,” says Boucai. “I made 200 gluten-free pita, special order.” This informal audition earned them a role as a baker and bread seller. Boucai says it has taken about a year in Los Angeles to feel settled but now, between selling bread and giving acting lessons, the aspiring TV writer is rolling in dough: “I’m making as much as I was working full-time at a nonprofit.”

‘Being paid to be around people is always good for me’

Today, Boucai works about 20 hours per week, total, at his side hustles. They split time between baking in the Super Bloom kitchen, working two farmers markets per week in various locations including Pacific Palisades, Melrose Place, and Calabasas, and doing administrative work for the company. Toggling between all three parts of the bread business provides Boucai with a sense of balance.

Video by Neha Dharkar “Baking is pretty solitary, it’s just two or three people in a kitchen just pounding it out. The farmers markets are crazy and very social, just people in your face all the time, in a good way. And then administrative work feels good because you’re getting s— done and crossing things off of your list. I think I’ve found that I’m happiest when I can do all three at once.” What’s more, Boucai find the hustles energizing: “I’m an extrovert, so just being paid to be around people is always good for me.” “I’m a theater person at heart,” they add. “I like putting on a good show, and ensuring that the show goes smoothly.”

Side hustles pay off in unexpected ways


Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: alizah salario
Keywords: news, cnbc, companies, week, incomeand, month, 37yearold, bread, theater, boucai, baking, super, glutenfree, good, 3200, makes, hustles, hustle, works, hours


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3 ways to do your taxes for free — it can save you up to $250

If you haven’t done your taxes yet, there’s one important question to ask yourself before you file: Are you eligible for free tax prep? Free FileLow- and moderate-income taxpayers, those earning about $69,000 or less a year, can take advantage of Free File, a partnership between the IRS and the Free File Alliance, a nonprofit group of about a dozen tax-prep service providers. Tax Counseling for the Elderly (TCE) provides free tax assistance to people who are age 60 and older. In addition to thes


If you haven’t done your taxes yet, there’s one important question to ask yourself before you file: Are you eligible for free tax prep?
Free FileLow- and moderate-income taxpayers, those earning about $69,000 or less a year, can take advantage of Free File, a partnership between the IRS and the Free File Alliance, a nonprofit group of about a dozen tax-prep service providers.
Tax Counseling for the Elderly (TCE) provides free tax assistance to people who are age 60 and older.
In addition to thes
3 ways to do your taxes for free — it can save you up to $250 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: alizah salario, mike alfred, michelle gielan
Keywords: news, cnbc, companies, taxes, help, taxpayers, limited, programs, walker, ways, prep, free, file, return, save, tax, 250


3 ways to do your taxes for free — it can save you up to $250

If you haven’t done your taxes yet, there’s one important question to ask yourself before you file: Are you eligible for free tax prep? Millions of taxpayers are but don’t take advantage. It costs an average of $176 to have a professional prepare a federal Form 1040 and a state return if you’re taking the standard deduction, according to the National Society of Accountants. If you’re itemizing, the average is $246. The more complicated your return, the higher the price. Depending on your income and other elements of your tax situation, you may be eligible for free help. Here are three resources to consider.

1. Free File

Low- and moderate-income taxpayers, those earning about $69,000 or less a year, can take advantage of Free File, a partnership between the IRS and the Free File Alliance, a nonprofit group of about a dozen tax-prep service providers. Free File is designed so that about 7 in 10 taxpayers, or roughly 100 million people, qualify. But in 2017, only about 3 million people used it. “You can file in certain situations both your federal and your state [return], depending on if your state qualifies,” explains April Walker, the American Institute of CPAs’ lead manager for tax practice & ethics. “If you’re at or below that [$69,000] number, then definitely it’s a great option for you.” To get started, go to the IRS Free File site, where, after plugging in key information, you’ll be redirected to a software provider’s site to complete your return. “It’ll tell you which of the offers are available to you,” says Walker. Keep in mind, however, that eligibility is often limited to those with straightforward returns, meaning they have W-2 income, limited investment income, and are claiming the standard deduction.

Video by Stephen Parkhurst

2. Volunteer assistance programs

IRS-certified volunteers provide tax assistance through two programs that operate out of community centers, senior centers, local libraries, schools, and elsewhere: Volunteer Income Tax Assistance (VITA) offers free tax help to those who generally make $56,000 or less, or those taxpayers with disabilities or whose English language skills are limited. You can find a VITA location near you by using the program’s locator tool.

offers free tax help to those who generally make $56,000 or less, or those taxpayers with disabilities or whose English language skills are limited. You can find a VITA location near you by using the program’s locator tool. Tax Counseling for the Elderly (TCE) provides free tax assistance to people who are age 60 and older. In addition to these IRS-affiliated programs, other organizations may provide free tax help in your area. AARP’s Tax-Aide program, for example, offers free tax preparation help to anyone but caters specifically to those 50 and older. Note that volunteer programs generally require you make an appointment, and you’ll need to come prepared with your key tax forms. Try to make an appointment sooner rather than later, too. “If you wait until the last minute, you may not be able to get an appointment,” says Walker. “It can also cause you to scramble for the information. Early prep is the best course of action.”

If you wait until the last minute, you may not be able to get an appointment. It can also cause you to scramble for the information. Early prep is the best course of action. April Walker AICPA

3. Free versions of tax prep software


Company: cnbc, Activity: cnbc, Date: 2020-02-15  Authors: alizah salario, mike alfred, michelle gielan
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How a 32-year-old recovered from defaulting on student loans and paid off $56,000 in debt

For 32-year-old Heather Taylor of Calabasas, California, paying off her student loans right out of college felt “overwhelming.” By 2014, she’d accrued $16,000 in interest, bringing her total student loan debt to $56,000. After years of struggling to make even minimum payments, Taylor ended up going into default on some of her loans. I can’t even begin to comprehend how I would juggle payments of a car plus rent plus student debt. Video by Courtney Stith In 2018, she applied to refinance her stud


For 32-year-old Heather Taylor of Calabasas, California, paying off her student loans right out of college felt “overwhelming.”
By 2014, she’d accrued $16,000 in interest, bringing her total student loan debt to $56,000.
After years of struggling to make even minimum payments, Taylor ended up going into default on some of her loans.
I can’t even begin to comprehend how I would juggle payments of a car plus rent plus student debt.
Video by Courtney Stith In 2018, she applied to refinance her stud
How a 32-year-old recovered from defaulting on student loans and paid off $56,000 in debt Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-04  Authors: alizah salario, joe saul-sehy, melanie lockert
Keywords: news, cnbc, companies, loan, 32yearold, debt, defaulting, paying, payments, loans, 56000, minimum, interest, student, saving, taylor, paid, recovered


How a 32-year-old recovered from defaulting on student loans and paid off $56,000 in debt

For 32-year-old Heather Taylor of Calabasas, California, paying off her student loans right out of college felt “overwhelming.” “There were so many years when I had to just stop making the payments and defer,” she says. In 2010, Taylor graduated from California Lutheran University with a degree in communications and a combined $40,000 in debt across seven loans. She had both public and private loans, with interest rates ranging from 4% to 8.5% — and her largest loan of $26,000 was at the 8.5% rate. After graduation, Taylor found a minimum wage job that paid $12 per hour. But while her loans were accruing interest, her earnings remained stagnant, and Taylor wasn’t able to keep up with her monthly payments. Though she made minimum payments when possible, her balance kept creeping up. “I was frustrated because [minimum payments] were just a drop in the bucket,” says Taylor. By 2014, she’d accrued $16,000 in interest, bringing her total student loan debt to $56,000. After years of struggling to make even minimum payments, Taylor ended up going into default on some of her loans. The following year, Taylor vowed to turn things around. “It was mostly just frustration that the monthly minimum payments weren’t doing anything,” she says. “I was tired of being in debt and I didn’t want it to control the rest of my life.”

The strategy: Side hustling and shutting out social media

For Taylor, “2015 was a game-changer of a year.” That’s when she took a new approach to earning and to paying off debt. Her first step? Finding a better paying job. By 2016, Taylor had a full-time job as a communications coordinator earning $55,000. She also started a side hustle as a freelance writer, which initially brought in an extra $500 per month. Within a year, she was raking in an extra $1,000 per month from the side hustle alone. Taylor started saving about half of her salary and all of her side hustle income. At the same time, she adopted the avalanche method of paying off debt, meaning she made monthly minimum loan payments of $653 while saving up to pay off each loan in full.

Video by David Fang Taylor also made lifestyle changes. She started cooking more and eating most of her meals at home. She lived with roommates to keep her rent low. And though she lived in Southern California, she didn’t have a car. “I’ve never had a license. I can’t even begin to comprehend how I would juggle payments of a car plus rent plus student debt. I take public transit, and I live purposely close to my job [so I can walk to work],” says Taylor. Though she took the occasional Lyft or Uber when public transportation was inaccessible, her total monthly ride share never exceeded $100. Taylor says that “maintaining a ‘break in case of emergency’ behavior” helped curb any temptation to dip into her savings. It also helped to shut out social media, since she found that scrolling through social media and the constant comparison to others was “the hardest thing” about saving and cutting back. “It seems like everyone you know is constantly taking a vacation, eating out, and you can feel kind of alone. Is anyone else saving?” Taylor says. While Taylor points out that you can be “inspired the by the way other people are saving” in #debtfree online communities, limiting social media exposure proved effective for her. Even so, Taylor still found ways to treat herself. That means white chocolate mochas from Starbucks stayed in the budget. “There’s a whole thing about giving up the coffee. But it’s the coffee that sustains you and keeps you going. It’s a little treat that I love getting. In light of the fact that I’m giving up major things [like] a car or [buying] a home, I’m not giving up my Starbucks,” says Taylor.

Video by Courtney Stith In 2018, she applied to refinance her student loans, but was told she didn’t qualify. “It was such a poor experience, and one I figured was largely based on my prior history of defaulting and deferring my student loans, that I never got any other outside institutions, like my bank, involved in consolidating or refinancing,” she says. Regardless, by August 2018, Taylor had enough saved to start “ramping up to really pay back her loans.” She’d divided her savings into “nest eggs” that she used to pay off the remainder of her loans in lump sums, with the exception of the biggest loan. “I paid off the loans with the highest interest rates first. It keeps you going because you face the worst thing first,” she says. By May 2019, Taylor had wiped out all her loans. “It’s really frightening, but eventually it gets smaller and smaller and then it’s gone,” she says. “And look what you’ve done.”

The celebration: A trip to Disneyland

Heather Taylor celebrates paying off her debt at Disneyland. Courtesy Heather Taylor

After making her final student loan payment in May 2019, Taylor and a friend took a trip to Disneyland. “It wasn’t cheap, but we were excited about it,” she says. She even splurged on a pair of Mickey ears for $30. Her next celebration will be a trip home to visit her family in Saint Louis, Missouri, for the first time in over two years. Taylor’s parents didn’t have the means to help her financially, but she credits their emotional support with helping her get out of debt: “My parents were really encouraging.”

I paid off the loans with the highest interest rates first. It keeps you going because you face the worst thing first. Heather Taylor communications coordinator

The opportunity: Saving for retirement


Company: cnbc, Activity: cnbc, Date: 2020-02-04  Authors: alizah salario, joe saul-sehy, melanie lockert
Keywords: news, cnbc, companies, loan, 32yearold, debt, defaulting, paying, payments, loans, 56000, minimum, interest, student, saving, taylor, paid, recovered


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4 steps to take now to make filing your taxes painless this year

Gather information about your incomeThe IRS will need information about your income, and your spouse’s, if you’re filing jointly. Your W-2 tells you your earned income over the course of the year and how much you’ve already paid in withholding tax on that income. Mortgage interest : If you’re a homeowner, keep an eye out for a 1098 form, or Mortgage Interest Statement, which you’ll need to deduct mortgage interest and related expenses. : If you’re a homeowner, keep an eye out for a 1098 form, or


Gather information about your incomeThe IRS will need information about your income, and your spouse’s, if you’re filing jointly.
Your W-2 tells you your earned income over the course of the year and how much you’ve already paid in withholding tax on that income.
Mortgage interest : If you’re a homeowner, keep an eye out for a 1098 form, or Mortgage Interest Statement, which you’ll need to deduct mortgage interest and related expenses.
: If you’re a homeowner, keep an eye out for a 1098 form, or
4 steps to take now to make filing your taxes painless this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-25  Authors: alizah salario, lizzie oleary
Keywords: news, cnbc, companies, receive, steps, youve, filing, painless, tax, taxes, earned, income, mortgage, interest, youre, 1099


4 steps to take now to make filing your taxes painless this year

The 2020 tax season starts January 27, when the IRS will start accepting your 2019 tax returns. By getting your documents in order and planning ahead, you’ll be poised to file quickly without having to rush through the process. That’s to your benefit, since hurrying through tax preparation can lead to mistakes that “increase penalties and interest, and reduce refunds,” says Mark La Spisa, a certified financial planner and president of Vermillion Financial Advisors in South Barrington, Illinois. Here’s a step-by-step guide to making the process painless.

1. Gather information about your income

The IRS will need information about your income, and your spouse’s, if you’re filing jointly. Typically, these forms arrive in the mail, although it’s increasingly common for employers to make W-2 forms available exclusively online, says Matt Rosenberg, a certified public accountant and a member of the American Institute of CPAs’ Financial Literacy Commission. Some investment income documents may also be available to download from your online bank or brokerage account. Here are some of the key income documents to watch for: Employee income: If you’re an employee, you should receive a W-2 form no later than January 31. Your W-2 tells you your earned income over the course of the year and how much you’ve already paid in withholding tax on that income.

If you’re an employee, you should receive a W-2 form no later than January 31. Your W-2 tells you your earned income over the course of the year and how much you’ve already paid in withholding tax on that income. Self-employed or independent contractor income: If you work in the gig economy as a freelancer, independent contractor, or side hustler, you should receive a 1099 from any client from whom you’ve earned $600 or more. To stay organized, go through your calendar and track all the different employers or clients you’ve worked for over the course of the year, and check off each 1099 as it comes in, La Spisa says.

If you work in the gig economy as a freelancer, independent contractor, or side hustler, you should receive a 1099 from any client from whom you’ve earned $600 or more. To stay organized, go through your calendar and track all the different employers or clients you’ve worked for over the course of the year, and check off each 1099 as it comes in, La Spisa says. Investment income: If you have any sort of investment account, such as an IRA or a 401(k), or a savings account that earns interest, you should receive a 1099 from your bank or brokerage firm, such as a 1099-div. Your 1099 is a report of dividends and interest of more than $10, as well as capital gains and stock sales.

Video by Euralis Weekes

2. Take advantage of last-minute tax breaks

There are still some moves you can make to reduce the taxes you owe on last year’s income. You can still make a 2019 contribution to a qualified retirement account such as an IRA or a 401(k), for example, or to a health savings account (HSA), up until the mid-April filing deadline. “The nice thing about these [qualified accounts] is that they’re one of the few things that you can influence in 2020,” says Rosenberg.

3. Tally up your deductions and credits

It’s a good idea to start by looking at last year’s tax return and see if any of the tax breaks you were eligible for in 2018 are still on the table for 2019. Here are some of common deductions, which are expenses that can lower your taxable income and, in turn, reduce your tax liability. Mortgage interest : If you’re a homeowner, keep an eye out for a 1098 form, or Mortgage Interest Statement, which you’ll need to deduct mortgage interest and related expenses.

: If you’re a homeowner, keep an eye out for a 1098 form, or Mortgage Interest Statement, which you’ll need to deduct mortgage interest and related expenses. Student loan interest: You may be able to deduct up to $2,500 of student loan interest paid, as long as your income is not over the earnings limit. If you’re chipping away at student loan debt, look out for Student Loan Interest Statement, or 1098-E. Tax credits are even more valuable because they directly reduces the amount of tax you owe dollar-for-dollar. Two of the big tax credits are the The Earned Income Tax Credit and the Child Tax Credit. Those can be worth up to $6,557 per filer and up to $2,000 per child, respectively. Roughly 1 in 5 taxpayers who are eligible for the EITC never claim it, so it’s worth the research.

4. Figure out if you’re eligible for free tax prep


Company: cnbc, Activity: cnbc, Date: 2020-01-25  Authors: alizah salario, lizzie oleary
Keywords: news, cnbc, companies, receive, steps, youve, filing, painless, tax, taxes, earned, income, mortgage, interest, youre, 1099


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Meghan Markle and Prince Harry want to be financially independent — here’s what that means

“Financial independence means different things to different people,” says Tara Unverzagt, a certified financial planner at South Bay Financial Partners in Torrance, California. Here are three kinds of financial independence and strategies experts suggest to help you achieve them. The means to pay bills and cover basic expensesFor young adults, the core of financial independence often is self-reliance. “Some people just out of college are trying to get financial independence from their parents,”


“Financial independence means different things to different people,” says Tara Unverzagt, a certified financial planner at South Bay Financial Partners in Torrance, California.
Here are three kinds of financial independence and strategies experts suggest to help you achieve them.
The means to pay bills and cover basic expensesFor young adults, the core of financial independence often is self-reliance.
“Some people just out of college are trying to get financial independence from their parents,”
Meghan Markle and Prince Harry want to be financially independent — here’s what that means Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: alizah salario
Keywords: news, cnbc, companies, prince, help, independent, parents, independence, certified, harry, family, young, markle, means, heres, money, meghan, youre, financial, financially


Meghan Markle and Prince Harry want to be financially independent — here's what that means

This week, actress and activist Meghan Markle and her husband Prince Harry announced that they intend “to step back” from their duties as “senior” members of the royal family and “work to become financially independent.” In a break from tradition, the couple plan, going forward, not to receive funding from the Sovereign Grant, which is a lump sum of taxpayer money used for official royal duties. The Duke and Duchess of Sussex have an estimated net worth of between $30 million and $45 million. So in their case “financial independence” appears to mean relying more on their own funds in exchange for the freedom from the expectations and obligations of public life, as well as more flexibility around where they live and the work they do. For the rest of us, though? It varies. “Financial independence means different things to different people,” says Tara Unverzagt, a certified financial planner at South Bay Financial Partners in Torrance, California. Here are three kinds of financial independence and strategies experts suggest to help you achieve them.

1. The means to pay bills and cover basic expenses

For young adults, the core of financial independence often is self-reliance. “Some people just out of college are trying to get financial independence from their parents,” says Unverzagt. “They are working towards getting out of the family house and paying for all of their bills themselves. That’s financial independence for them.” Striving to be more financially self-sufficient in your 20s is smart, but being fully independent, in practice, can be harder than it seems. The majority of Americans say young adults should be financially independent by age 22, but only 24% of them actually are by that age, according to a 2019 analysis from the Pew Research Center. Among those who still rely on at least some financial help from a parent, 60% say that the assistance is related to basic household expenses such as groceries or bills.

Video by David Fang If you’re working toward more self-sufficiency, start by getting a better understanding of what’s going on with your money, including both how much you’re making and how much you’re spending. The “first step to getting your financial foundation laid is tracking your expenses” using a budgeting app or a spreadsheet, says Unverzagt. That can help you get a sense of where you are financially, she says, and knowledge is power: “If you don’t have a handle on your cash flow, you’ve relinquished control of your financial situation.”

2. Freedom from family expectations

If you rely on financial assistance from a family member, it’s not unusual to feel bound by obligation to them. That can mean having to make minor adjustments, like limiting your data usage if your parents pay your cellphone bill. Or it can mean compromising on major decisions, such as picking a college major or career in line with someone else’s expectations instead of your own desires. “The primary benefit of financial independence is that you cut many of the emotional strings that tie you to family money,” says Justin Pritchard, a certified financial planner and the founder of Approach Financial in Montrose, Colorado. “The things you do in life can become more of a choice, as opposed to obligations that you might feel as a result of your good financial fortune.” If you’re lucky enough to be in a position to receive “financial scaffolding” from your parents as a way to develop your skills or build a business, feel free to “take advantage of the window of opportunity” when you’re young and accept some financial support, says Michael Caligiuri, a certified financial planner and the founder of Caligiuri Financial in Columbus, Ohio.

The primary benefit of financial independence is that you cut many of the emotional strings that tie you to family money. Justin Pritchard Certified financial planner

It can help to weigh the short-term compromises against your long-term goals. For Julia Peña, who graduated from Syracuse University in May 2019, living under her parents’ roof over the summer allowed her to achieve her goal of saving the majority of her $3,500 in earnings from her summer job. “I basically put about 90% of what I made into my savings account, so typically I went back to school with about $3,000 to last me through the fall,” Peña told Grow last year. The privilege of financial support from a loved one may come with compromises, but it can also have a positive influence on your long-term financial health. If you live at home in order to save up or pay off debts, for example, you may be even better poised to get a lucrative job or build a firm financial foundation when you do strike out on your own.

3. Increased flexibility and options


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: alizah salario
Keywords: news, cnbc, companies, prince, help, independent, parents, independence, certified, harry, family, young, markle, means, heres, money, meghan, youre, financial, financially


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This 37-year-old makes $3,200 a month from side hustles in Los Angeles

So it makes sense that their ideal side hustle — baking and selling gluten-free bread at farmers markets — feels theatrical. Even baking the bread, loading up the van, getting everything set up so everyone can go to the market — it’s theater.” That’s a total of up to $3,200 per month in side hustle income, more than three times their $1,000 monthly rent. ‘Being paid to be around people is always good for me’Today, Boucai works about 20 hours per week, total, at his side hustles. What’s more, Bou


So it makes sense that their ideal side hustle — baking and selling gluten-free bread at farmers markets — feels theatrical.
Even baking the bread, loading up the van, getting everything set up so everyone can go to the market — it’s theater.”
That’s a total of up to $3,200 per month in side hustle income, more than three times their $1,000 monthly rent.
‘Being paid to be around people is always good for me’Today, Boucai works about 20 hours per week, total, at his side hustles.
What’s more, Bou
This 37-year-old makes $3,200 a month from side hustles in Los Angeles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-04  Authors: alizah salario
Keywords: news, cnbc, companies, theater, super, hustles, angeles, week, baking, 3200, glutenfree, 37yearold, bread, month, makes, boucai, los, good


This 37-year-old makes $3,200 a month from side hustles in Los Angeles

L.A.-based writer, director, and performance artist M.B. Boucai loves putting on a good show. So it makes sense that their ideal side hustle — baking and selling gluten-free bread at farmers markets — feels theatrical. “Running a pop-up business is no different than directing or producing a play,” says Boucai, who uses they/them pronouns. “Every week you set up your tent, you take it down, you have a game plan [but] you never know what the given circumstances are going to be. … Even baking the bread, loading up the van, getting everything set up so everyone can go to the market — it’s theater.” It’s also lucrative: At the pop-up bakery Super Bloom, Boucai earns roughly $20 per hour, pulling in between $250 and $300 each week. Boucai makes another $300 to $500 each week from acting lessons, charging anywhere from $40 per hour for beginners up to $80 for professionals. That’s a total of up to $3,200 per month in side hustle income, more than three times their $1,000 monthly rent. “At this point, my side hustles are my income,” says Boucai.

From baking for friends to rolling in dough

In December 2018, when Boucai moved to Los Angeles, they were looking for a flexible side gig that afforded them the time to focus on creative pursuits. Boucai, who holds a Ph.D. in performance studies from the University of California, Berkeley, had previously held a full-time job as a theater director at an arts nonprofit in Providence, Rhode Island, in addition to various writing and editing side hustles. In Hollywood, they were hoping to break into TV writing — and meanwhile needed to earn enough money to get by in one of America’s most expensive cities. The self-described extrovert says that the “alone-in-my-room, writing/editing side hustles” never quite fit. But when Boucai connected with the owners of a gluten-free bakery at a series of backyard barbecues though mutual friends, they tapped into a completely different set of skills.

Video by David Fang Boucai’s father, a chef and restaurateur, had instilled in them a passion for cooking. They brought homemade hummus, baba ganoush, and other dips and mezes inspired by their Syrian heritage to the barbecues, impressing new friends. Knowing Boucai had a knack in the kitchen, the owners of Super Bloom — known for its $14 gluten-free sourdough loaf and $16 paleo-friendly super seed loaf — asked them to help out in a pinch. “They said, ‘Can you make pita?’ Of course I can make pita,” says Boucai. “I made 200 gluten-free pita, special order.” This informal audition earned them a role as a baker and bread seller. Boucai says it has taken about a year in Los Angeles to feel settled but now, between selling bread and giving acting lessons, the aspiring TV writer is rolling in dough: “I’m making as much as I was working full-time at a nonprofit.”

‘Being paid to be around people is always good for me’

Today, Boucai works about 20 hours per week, total, at his side hustles. They split time between baking in the Super Bloom kitchen, working two farmers markets per week in various locations including Pacific Palisades, Melrose Place, and Calabasas, and doing administrative work for the company. Toggling between all three parts of the bread business provides Boucai with a sense of balance.

Video by Neha Dharkar “Baking is pretty solitary, it’s just two or three people in a kitchen just pounding it out. The farmers markets are crazy and very social, just people in your face all the time, in a good way. And then administrative work feels good because you’re getting s— done and crossing things off of your list. I think I’ve found that I’m happiest when I can do all three at once.” What’s more, Boucai find the hustles energizing: “I’m an extrovert, so just being paid to be around people is always good for me.” “I’m a theater person at heart,” they add. “I like putting on a good show, and ensuring that the show goes smoothly.”

Side hustles pay off in unexpected ways


Company: cnbc, Activity: cnbc, Date: 2020-01-04  Authors: alizah salario
Keywords: news, cnbc, companies, theater, super, hustles, angeles, week, baking, 3200, glutenfree, 37yearold, bread, month, makes, boucai, los, good


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8 creative, affordable, expert-recommended ways to celebrate Hanukkah

Hanukkah is “a time to focus on giving sustainably,” says Marion Haberman, a YouTube star at My Jewish Mommy Life. Create a Hanukkah cookie-baking kitGather blue and white sprinkles, Hanukkah-shaped cookie cutters, and a sealed bag with sugar, flour and other necessary ingredients. For younger kids, create a sensory bin that includes colored rice, dreidels and other tactile objects. For an extra special touch, use silicone molds that are typically used for chocolate or candy concoctions to creat


Hanukkah is “a time to focus on giving sustainably,” says Marion Haberman, a YouTube star at My Jewish Mommy Life.
Create a Hanukkah cookie-baking kitGather blue and white sprinkles, Hanukkah-shaped cookie cutters, and a sealed bag with sugar, flour and other necessary ingredients.
For younger kids, create a sensory bin that includes colored rice, dreidels and other tactile objects.
For an extra special touch, use silicone molds that are typically used for chocolate or candy concoctions to creat
8 creative, affordable, expert-recommended ways to celebrate Hanukkah Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-16  Authors: alizah salario
Keywords: news, cnbc, companies, haberman, expertrecommended, celebrate, affordable, menorah, holiday, kids, crayons, hanukkah, giving, really, gift, create, ways, creative


8 creative, affordable, expert-recommended ways to celebrate Hanukkah

Hanukkah, the Jewish Festival of Lights, begins this year on December 22. Those who celebrate may gather each evening to light another candle on the hannukiah, commonly called a menorah, play dreidel games, and eat festive foods like potato pancakes, chocolate coins and jelly donuts. And then there are the presents. The holiday has come to be associated with eight gifts doled out over eight nights, especially as American parents stress out about competing with Christmas. But you don’t need to overspend to help make a memorable holiday experience for your family. If you think creatively, your celebration can be eco-friendly, cost-effective, but fun — and just as memorable. Hanukkah is “a time to focus on giving sustainably,” says Marion Haberman, a YouTube star at My Jewish Mommy Life. “In Judaism, the value of Tikkum Olam [literally, repairing the world] and taking care of the Earth is something that’s really important in our home, and lot of other Jewish homes. I think Hanukkah is a really good time to talk about that, and to give in a way that echoes that meaningful value in our life.” That resonates with actress and neuroscientist Mayim Bialik, too, who points out that “in traditional circles, Hanukkah is not a huge gift-giving holiday.” Bialik, who was raised Orthodox, takes a restrained approach when it comes to buying gifts for her own kids: “It became really fun to choose one really significant gift for Hanukkah, and then [my kids] get dreidels and underwear and socks. But again, we don’t do every single night, so we’d space it out.” Here are eight creative, memorable ideas for how to celebrate.

1. Make your own menorah

Making a menorah out of an old toy is a great way to repurpose something your child no longer uses, and create a keepsake out of a special object, says Haberman. In addition to a toy, you’ll need strong glue and hex nuts to hold the candles in place, which you can purchase in bulk on Amazon for $6.99. “You basically can make it out of anything your kid is interested in,” says Haberman. For her three-year-old son, who’s “obsessed” with cars, she took one of his old trucks and glued metal nuts in a row. For her younger son, who is 10 months old, Haberman personalized a homemade menorah by repurposing letter blocks spelling out his name.

Homemade firetruck menorah Courtesy Marion Haberman

2. Plant flowers or succulents

Part of taking care of the earth is giving back to it, says Haberman. “Another idea I love, depending on your climate, is plants and planting,” she says. If you live in a temperate climate, you can buy a plant to put outdoors, and water and tend to it with your child throughout the year. If you’re in a colder climate, try indoor succulents or a natural elements sensory activity. “If you’re giving to younger kids, that can be a great sensory activity, to play with the dirt, and other natural elements, rocks and stones. It can be a whole activity before you assemble the planted object, and of course, you can watch it grow as the months go by, which is always fun,” she adds.

3. Create a Hanukkah cookie-baking kit

Gather blue and white sprinkles, Hanukkah-shaped cookie cutters, and a sealed bag with sugar, flour and other necessary ingredients. Then package everything in a mason jar, or for an extra fancy touch, wrap the ingredients in fabric, which could be reused as a headband or a scarf, suggests Haberman. If you want to make the gift even more sustainable, go for more reusable items. “Buy a fancy banking tin, and you could buy the reusable cupcake papers [baking cups] with silicone, and then you have a whole baking set that you can use again and again with your family member,” she adds.

4. Put together a dreidel-and-coins set

“Playing dreidel is a big part of Hanukkah, and gelt, or coins, is really the most traditional gift,” says Haberman. Giving your child their own dreidel, along with cute handwritten instructions, is something they’ll have for years, she adds.To make it extra special, you can make your own dreidel, or even carve one from wood. For younger kids, create a sensory bin that includes colored rice, dreidels and other tactile objects.

Dreidel sandbox Courtesy Marion Haberman

5. Divide a big gift into pieces

The anticipation of getting a gift can be just as exciting as receiving one. Add a little suspense to your holiday by giving small parts of a big gift over the course of eight nights. Haberman bought her car-loving son a big racing track and some Hot Wheels cars. Instead of presenting him with the track and cars, at once, she plans on spacing it out, giving him a car each night until the eight night: “The Hot Wheels cars are only a dollar, and he can still use those cars during the holiday, and wait for the track.”

6. Create a coloring station

Start by printing out some free Hanukkah coloring pages online. Then you can recycle old crayons by melting them down to create new ones. Collect any stubs or nibs of broken crayons you might have, peel off the wrappers, and bake them so they mold together into new crayons. For an extra special touch, use silicone molds that are typically used for chocolate or candy concoctions to create crayons in fun shapes. “There are also dreidel-shaped ones,” says Haberman. “I think kids really like this one because you can mash the crayons, and peeling off the papers is fun.”

7. Frame-pressed flowers

“For older kids, I love doing a pressed flower,” says Haberman, who suggests using a flower for a tree or bush near your home. “You can place it on a nice piece of paper and frame it, and then there’s this connection to your home, and where you got the flower.” For younger kids, a hand-print menorah is a sweet, easy-to-make art projects that requires just construction paper and paint. “Put two hands together and have eight candles, and you get the shamash [the helper candle used to light the others on a menorah] in the middle with their thumbs,” she explains. The result is a memento you can keep for years.

8. Give back


Company: cnbc, Activity: cnbc, Date: 2019-12-16  Authors: alizah salario
Keywords: news, cnbc, companies, haberman, expertrecommended, celebrate, affordable, menorah, holiday, kids, crayons, hanukkah, giving, really, gift, create, ways, creative


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How to maximize your charitable donations this holiday season

That means doing your research on your charities of choice before you donate, says Ashley Post, a spokesperson for Charity Navigator. Here are three ways to make sure your donation counts, as well as some suggestions for creative ways to give. 2. Review the charity’s ratingChecking a charity’s rating can give you a clearer understanding of how your donation could be spent. While you can dig into a specific charity yourself, charity watchdog organizations like Charity Navigator, Charity Watch, an


That means doing your research on your charities of choice before you donate, says Ashley Post, a spokesperson for Charity Navigator.
Here are three ways to make sure your donation counts, as well as some suggestions for creative ways to give.
2. Review the charity’s ratingChecking a charity’s rating can give you a clearer understanding of how your donation could be spent.
While you can dig into a specific charity yourself, charity watchdog organizations like Charity Navigator, Charity Watch, an
How to maximize your charitable donations this holiday season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: alizah salario
Keywords: news, cnbc, companies, giving, post, donate, donation, ways, maximize, charitys, donations, navigator, charitable, way, support, holiday, season, charity


How to maximize your charitable donations this holiday season

The Salvation Army bell ringers are in full swing, and so is the global movement to donate and do good known as #GivingTuesday. The season of generosity is here. In 2018, individual giving totaled an estimated $292 billion, according to Giving USA’s 2019 report. And though people give year-round, 31% of annual giving occurs in the month of December, according to The Network for Good’s Digital Giving Index. It can feel good to donate to a cause that’s close to your heart. But before you do, make sure your money is going to fund the programs or help the people you want it to. That means doing your research on your charities of choice before you donate, says Ashley Post, a spokesperson for Charity Navigator. “This time of year, people are more likely to take advantage of people’s goodwill and generosity,” says Post. Here are three ways to make sure your donation counts, as well as some suggestions for creative ways to give.

1. Check the charity’s EIN

To sidestep scams or frauds, check the EIN (Employer Identification Number) of any organization asking for funds before you donate to it. Every organization that has been recognized as a tax-exempt nonprofit should have one, explains Post, and you can look up a particular EIN on Charity Navigator or in the IRS database. “It’s a great way to confirm it’s legitimate and gifts are tax-exempt,” says Post. Many charities list their EINs on their “donate” pages, so they’re easy to find if you’re donating online. If a fundraiser calls you asking for a donation over the phone and you can’t check the charity’s EIN immediately, ask about the organization’s mission, goals, and achievements. If the fundraiser is unable to answer those questions, then you probably shouldn’t donate, says Post.

2. Review the charity’s rating

Checking a charity’s rating can give you a clearer understanding of how your donation could be spent. While you can dig into a specific charity yourself, charity watchdog organizations like Charity Navigator, Charity Watch, and GiveWell collect data and crunch the numbers to help donors make informed decisions, based on a charity’s tax returns, annual reports, accountability, and transparency. When doing your research, find out how much of overall revenue is being spent on programs. The general rule is that a charity should spend at least 70% of its revenue on programs, with 10%-30% going to administrative costs and fundraising, explains Post. On Charity Navigator, for example, any organization that receives the highest rating of four stars is exceeding industry standards, which means it’s spending 70% or more of revenue on programs.

3. Be clear about the kind of support you want to offer

If there’s a particular program that you think is worthy of your support, you can make a designated gift by, for example, writing a note on your donation specifying where you want the funds to go. That’s pretty common after a disaster, says Post. After the wildfires in California, some people who donated to national relief agencies specified that they wanted their funds to help those affected or displaced by the wildfires. You can also simply give general operating support and trust that the charity knows the best way to spend it, says Post. “It allows them to be pretty nimble and adapt to changing needs. It might not be as rewarding,” she acknowledges, but “they could use it to keep the lights on or buy copier paper, [and] those are legitimate needs that keep the charity running.” Trust in the process, says Post: “The best thing is to feel confident about the charity you’ve chosen to support, and know that if you’ve done your due diligence, they know the best way to spend your donation.”

Video by David Fang

Find creative ways to give


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: alizah salario
Keywords: news, cnbc, companies, giving, post, donate, donation, ways, maximize, charitys, donations, navigator, charitable, way, support, holiday, season, charity


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The master stylist who cuts hair for George Clooney and Mick Jagger started with just a side hustle

Edward Tricomi started cutting hair as a teen at his sister’s shop to earn a little extra money while he focused on music. His side hustle paid off, although not in the way he expected: Today, Tricomi counts celebrities like Scarlett Johansson, Mick Jagger, and George Clooney among his clients. He’s the co-owner of Warren Tricomi, a chain of upscale salons in Tokyo, New York City’s Plaza Hotel, and elsewhere around the world. Warren Tricomi is more than a beauty brand, it’s also a lifestyle bran


Edward Tricomi started cutting hair as a teen at his sister’s shop to earn a little extra money while he focused on music.
His side hustle paid off, although not in the way he expected: Today, Tricomi counts celebrities like Scarlett Johansson, Mick Jagger, and George Clooney among his clients.
He’s the co-owner of Warren Tricomi, a chain of upscale salons in Tokyo, New York City’s Plaza Hotel, and elsewhere around the world.
Warren Tricomi is more than a beauty brand, it’s also a lifestyle bran
The master stylist who cuts hair for George Clooney and Mick Jagger started with just a side hustle Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: alizah salario
Keywords: news, cnbc, companies, hustle, master, tricomi, vision, little, vogue, business, tricomis, warren, clooney, jagger, stylist, hair, mick, cuts, salons, george, beauty, create, started


The master stylist who cuts hair for George Clooney and Mick Jagger started with just a side hustle

Edward Tricomi started cutting hair as a teen at his sister’s shop to earn a little extra money while he focused on music. His side hustle paid off, although not in the way he expected: Today, Tricomi counts celebrities like Scarlett Johansson, Mick Jagger, and George Clooney among his clients. He’s the co-owner of Warren Tricomi, a chain of upscale salons in Tokyo, New York City’s Plaza Hotel, and elsewhere around the world. The stylist, who gained a following thanks to his signature, high-precision dry cuts and who has now been cutting hair for 50 years, says success happens “piece by piece.” You can’t rush it: “I always say you don’t put the whole steak in your mouth at once. You take bites at a time,” says Tricomi. Here are Tricomi’s guidelines for turning your passion into a profitable business.

‘Any entrepreneur, you have to have a vision’

“I’ve been entrepreneurial since I was a kid,” says Tricomi. “I played in rock bands and being on stage, and doing all that, helped me a lot when I became a hairdresser.” After his gig at his sister’s shop, Tricomi’s first official job in New York City was at a salon called Cinandre, which was, he says, like “the Studio 54 of salons.” His career took off when he became an editorial hairstylist for American Vogue in his 20s: He worked with legends like Irving Penn and Richard Avedon, who turned fashion photography into high art, and traveled the world doing photo shoots with luminaries like Yves Saint Laurent and Karl Lagerfeld. Working with Vogue, says Tricomi, gave him “this incredible training on how to build sets” and create an atmosphere of beauty and luxury. Later, he transferred this knowledge to his salons. “All my salons are heavily curated. It’s sight, smell, touch, sound. …. We create an environment that’s very conducive for beauty and fashion. Warren Tricomi is more than a beauty brand, it’s also a lifestyle brand,” he says.

Tricomi’s experience at Vogue drove home importance of developing a detailed vision of what you want out of your career and really thinking it through. Your vision should be so clear, he says, that it engages your senses. “Any entrepreneur, you have to have a vision. And then you have to be able to execute on that vision,” he says. “You bring [your vision] into manifestation by having the thought and the dream about it. Then you start to work on it, and eventually, it’ll come. … Little by little, you can create an incredible business.”

Know your strengths and weaknesses

Tricomi partnered with businesswoman Roxana Pintilie and colorist Joel Warren and, in 1988, they opened the first Warren Tricomi salon in Midtown Manhattan. (Warren is no longer associated with the business.) Pintilie raised an initial $250,000 investment from her best friend. Pintilie’s business savvy and Tricomi’s creativity are still like the “right and left brain” of the business, Tricomi says, adding that one key to business success is teaming up with someone who brings expertise you lack. “It’s knowing your strengths and knowing your weaknesses, and then you have to work on the parts you feel you don’t have that strongly,” he says.

Work with people who share your values


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: alizah salario
Keywords: news, cnbc, companies, hustle, master, tricomi, vision, little, vogue, business, tricomis, warren, clooney, jagger, stylist, hair, mick, cuts, salons, george, beauty, create, started


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Two-thirds of Americans don’t feel better off, and these are the main reasons why

Why Americans feel better or worse off Poll respondents noted the primary reason behind how their financial situation has changed since the last presidential election. Graphic: kiersten schmidt | grow Source: financial times Why Americans feel better or worse off Poll respondents noted the primary reason behind how their financial situation has changed since the last presidential election. Graphic: kiersten schmidt | grow Source: financial times Why Americans feel better or worse off Poll respon


Why Americans feel better or worse off Poll respondents noted the primary reason behind how their financial situation has changed since the last presidential election.
Graphic: kiersten schmidt | grow Source: financial times Why Americans feel better or worse off Poll respondents noted the primary reason behind how their financial situation has changed since the last presidential election.
Graphic: kiersten schmidt | grow Source: financial times Why Americans feel better or worse off Poll respon
Two-thirds of Americans don’t feel better off, and these are the main reasons why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: alizah salario
Keywords: news, cnbc, companies, americans, poll, wage, feel, better, personal, worse, klontz, debt, dont, reasons, twothirds, main, financial


Two-thirds of Americans don't feel better off, and these are the main reasons why

Despite steady job growth and stocks rallying to record highs in recent years, only about a third of Americans say they feel better off financially since the last presidential election, according to a recent poll of 1,005 likely voters by the Financial Times and the Peter G. Peterson Foundation. The online poll, which was conducted by Global Strategy Group, a Democratic polling firm, and North Star Opinion Research, a Republican group, found that 31% of Americans say they’re worse off financially, while 33% reported no change in their financial position since January 2017. Among those who reported feeling worse off, the two most important reasons for the change in status were income and wages (36%) and the burden of debt (19%). For Americans who reported feeling better off, the No. 1 reason was income and wages (39%) followed by the amount of personal savings and investment (24%).

Why Americans feel better or worse off Poll respondents noted the primary reason behind how their financial situation has changed since the last presidential election. Worse off Better off -40% -20 0 20 40 Wages or income level Amount of personal savings and investments Employment status Size of personal or family debts Something else Value of primary residence -40% -20 0 20 40 Note: Based on an October 2019 poll of 1,005 adults. Graphic: kiersten schmidt | grow Source: financial times Why Americans feel better or worse off Poll respondents noted the primary reason behind how their financial situation has changed since the last presidential election. Worse off Better off -40% -20 0 20 40 Wages or income level Amount of personal savings and investments Employment status Size of personal or family debts Something else Value of primary residence -40% -20 0 20 40 Note: Based on an October 2019 poll of 1,005 adults. Graphic: kiersten schmidt | grow Source: financial times Why Americans feel better or worse off Poll respondents noted the primary reason behind how their financial situation has changed since the last presidential election. Worse off Better off -40% -20 0 20 40 Wages or income level Amount of personal savings and investments Employment status Size of personal or family debts Something else Value of primary residence -40% -20 0 20 40 Note: Based on an October 2019 poll of 1,005 adults. Graphic: kiersten schmidt | grow Source: financial times

How debt can make us feel worse off

Total consumer debt carried by Americans topped $4 trillion in 2019, and outstanding student loan debt climbed to $1.41 trillion. While debt has increased, wage growth has remained relatively flat. Though the target for nominal wage growth is 3.5%-4% annually, year-over-year wage growth for private employees has fallen below that rate, at 3%, according to the Economic Policy Institute. And though there’s been a push to raise the minimum wage in certain places to $15 or $16 per hour, the federal minimum wage, $7.25 per hour, hasn’t been changed since 2009.

Minimum wage varies by state Twenty-nine states and Washington, D.C., have set their minimum wage higher than the federal level of $7.25. Twenty-six have changed their minimum-wage law since the start of 2014. Social chart title Note: As of July 12, 2019. kiersten schmidt/grow Economic Policy Institute

The combination of stagnant wages and increased debt can amplify the feeling of being worse off. Debt, in particular, is a factor, because of our distorted beliefs around it, explains Brad Klontz, a psychologist, certified financial planner, and the coauthor of the book “Mind Over Money: Overcoming the Money Disorders That Threaten Our Financial Health.” A lot of people “think that because they have some debt, they’re doing terrible,” says Klontz. “They [can] have literally a million dollars [in] net worth, and they can’t go to sleep at night because they’re worried about this debt that they have. That’s an extreme example, but it’s not an uncommon one.” Debt can cause what’s known in psychological terms as learned helplessness, or the feeling that escape is impossible, no matter how much you chip away at what you owe. “When I say the word ‘debt,’ I sink internally,” says Klontz. “It’s a stressor.” Debt can be so “scary,” he says, that “it can feel life-threatening.” The stress of carrying debt can make us feel more worse off than we actually are, says Ed Coambs, licensed marriage and family therapist at Carolinas Couples Counseling in Matthews, North Carolina. Coambs says there are certain social norms around debt similar to the ones around body image. For many people, “if we stray from those norms, it creates psychological distress,” he says.

When I say the word ‘debt,’ I sink internally. It’s a stressor. Brad Klontz author of ‘Mind Over Money’

Our belief in our capacity to pay off debt, though, can make the process more manageable. And visualizing your success helps. Klontz, who was the lead researcher on a 2019 study on savings in the Journal of Financial Planning, found that people significantly increased their savings behavior when they had a clear and exciting vision about what they wanted when they got out of debt. “It’s a huge ask of your subconscious to climb this huge debt mountain, right?” says Klontz. “What I think is most important is that you have a really exciting vision of what’s on the other side of that mountain.” Whether it’s a family vacation to South America in 2020 or the ability to buy a home, Klontz says that “really getting in touch with your values and what you’re most passionate about” can help keep you on track. “The clearer you can make that picture of how incredible it’s going to be on the other side, then it becomes a lot easier to make those minor sacrifices around things you don’t care about, because you’ve already established what you actually care about,” he adds.

Video by David Fang Having a clear vision about a future goal helps real people successfully pay off their debt — and pursue their passions. Adopting a cash-only spending strategy helped 23-year-old Kristy Epperson pay off $20,000 in one year. She had a clear vision of sprucing up her yard, and it worked: “Looking out the window and imagining the yard I wanted motivated me to stick to the budget.” To pay off $300,00 worth of mortgage and loan debt, Bernadette Joy Maulion and her husband AJ adopted a one-income, minimalist lifestyle. Keeping her eye on her ultimate goal of starting her own financial consulting business helped Bernadette stay on track. After eliminating their debt, Bernadette had a “sense of freedom” and the confidence to do things that previously felt unattainable, she says, like starting “yet another career and [to] make travel plans in cash.”

Video by Jason Armesto

Your net worth is a better measure of your financial health


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: alizah salario
Keywords: news, cnbc, companies, americans, poll, wage, feel, better, personal, worse, klontz, debt, dont, reasons, twothirds, main, financial


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