Showing 9 results for:

savings

by Topic

All results

9
What Is The YOLO Economy And Why Is It On The Decline?

As Americans race toward yet another nail-biter of a presidential election , things like inflation and cost of living continue to rise at a seemingly untenable rate. Many people have been forced to cut back on necessities, pay bills late or even resort to living in cars and tents to try to survive this stifling economic climate. After only a few short years, it seems as though the YOLO economy has officially come to an end. For those not in the loop, the YOLO economy was a period of prosperity borne of the COVID-19 pandemic , which allowed many Americans to spend with reckless abandon for a few short years. Now that the era of YOLO seems to be going the way of the dodo bird, it seems like as good a time as any to examine what the economic system entailed, where the term comes from, and why financial trends have shifted the landscape in the way that they have. Without any further preamble, let’s unpack the history of the YOLO years, and see if we can predict what comes next for those...

Jun 7, 2024

How TikTok's "Loud Budgeting" Will Help Reach Your Financial Goals

From seeing birthday vacations to Mexico or weekly spa visits on social media, it’s easy to feel like you should spend your money on life’s luxuries. But if you have plans to pay off your debts or build up your savings, the need for financial limits is crucial to reaching your goals. The latest financial trend taking over TikTok is “loud budgeting,” the no-shame approach to discussing financial boundaries and personal financial limits. As “loud budgeting” gains momentum, its bold approach to financial management becomes increasingly recognized and supported by financial experts due to the data on American spending in recent years. According to a November survey of 2,098 adults conducted by The Harris Poll on behalf of Credit Karma, 69% of Americans reported having financial regrets in 2023. Additionally, 53% stated that their financial situation deteriorated last year, with 31% expressing regret over not saving enough money and 22% lamenting excessive spending. The numbers show that...

Feb 16, 2024

31 Days Of Savings: How No-Spend January Works And Tips To Help You Stay On Track

The latest TikTok challenge taking over our timelines, the #NoSpendJanuary challenge, is a new approach to savings that urges individuals to resist unnecessary spending. Scrolling through the #NoSpendJanuary hashtag, you see a sneak peek into people’s regular spending habits. Although we’re almost through the month, it’s never too late to learn valuable financial lessons and collect helpful resources to mend unhealthy spending habits. It’s not just about the challenge itself, but a space for learning the diverse financial habits of entrepreneurs, business owners, content creators and professional’s financial habits in the new year . Creator of the award-winning “Millennial In Debt” web series, Melissa Jean-Baptiste is a testament to financial wins through a frugal lifestyle . A first-generation Haitian-American, she paid off $102,000 in student loans on simply a teacher’s salary. According to the U.S. Bureau of Labor Statistics, the average American household spent $72,967 in 2022....

Jan 19, 2024

Ally Financial Cuts Beyoncé Fan A Check After Viral Tweet Displaying His Savings For Renaissance Tour Tickets

“I stop the world. World stop.” At the very start of Black History Month, people woke up to Beyoncé announcing the Renaissance World Tour 2023.

Feb 3, 2023

5 Black-Owned Apps Promoting Financial Literacy That We've Got Our Eyes On

Learning how to properly budget your income is one of the building blocks for attaining financial literacy. With keeping up with bills and unexpected expenses, it can become easy to slip onto a path of neglecting taking action in creating a game plan for monthly spending. Here are budgeting and saving apps led by Black founders that guide you to keep track of your coins.

Apr 29, 2022

Ciara And Russell Wilson Donate Over $35K To Help Seattle Students Start Savings Accounts

Power couple Ciara and Russell Wilson never miss an opportunity to give back to their Seattle community. With Financial Literacy Month winding down, the Seattle Seahawks quarterback and his superstar wife took the opportunity to surprise hundreds of middle school students in their city with savings accounts to teach them a valuable lesson about investing and the value of money. According to The Seattle Times, Wilson and Ciara donated over $35,000 so each West Seattle Public School student could seed their own savings accounts with $40. The couple’s surprise arrangement was created in partnership with their Why Not You Foundation, the NFL Players Association and family fintech company Goalsetter. The Seattle Times reports that Goalsetter CEO Tanya Van Court started off the virtual lesson, alongside The Wilsons, teaching students about how to create wealth for themselves. “After these kids see or hear Russell Wilson in their classroom, I want them to see that they don’t need to aspire...

Apr 30, 2021

You Can Only Work So Much: Passive Income Can Help To Build Generational Wealth

Your paycheck helps you live, but accumulating wealth takes more than a steady 9 to 5 with a nice salary. The average millionaire has seven streams of income. Rather than solely earning a salary from a single occupation, financial prosperity is generated by multiple investments that earn money without requiring active work, also known as passive income. If you’ve ever heard someone say, “it takes money to make money,” or something along the lines of, “rich people make money in their sleep,” you’ve heard about passive income. Take a look at the first Black female and male musicians to reach billionaire status, Rihanna and Jay-Z. Rihanna went nearly bankrupt then grew a $600 million net worth. The majority of Jay-Z’s income is the result of smart investments and business ventures, such as clothing lines, sports teams, music streaming and restaurants. The path to wealth building is rarely that straightforward, however. The racial wealth gap offers some proof. According to the 2019...

Apr 28, 2021

19 Black-Owned Brands To Shop With For Cyber Monday

With the holiday season in full swing, now is the most opportune time for retail businesses all over to rake in even more revenue and reach more customers. Compared to previous years, this year’s focus for Black Friday and Cyber Monday is on buying Black. Historically speaking, Black-owned businesses have struggled to partake in these retail holidays due to lack of access to capital and support, according to Prevention. However, the spending power of buying from Black-owned businesses in mass this year has given many brands the opportunity to finally participate in the shopping festivities. In celebration of the Buy Black movement, check out the below list of online deals and sales to close out during Cyber Monday. TIER Courtesy of Tier Vintage Royalty Courtesy of Vintage Rotalty ICONI Courtesy of Iconi Autumn Adeigbo Courtesy of Autumn Adeigbo Natural & Fit Designs Courtesy of Natural & Fit Designs FINCH Courtesy of Finch xN Studio Courtesy of xN Studio Kmoni Cosmetics®️ Courtesy of...

Nov 30, 2020

Goalsetter to Launch Money-Saving Campaign #SavingOurSelves on Juneteenth

Amid conversations and uprisings surrounding racial justice, Juneteenth is quickly becoming a company holiday . However, with all of the increased awareness, Goalsetter is launching the #SavingOurSelves initiative to help reverse the wealth gap. Founded by Tanya Van Court, Goalsetter —a Black-owned app that provides culturally-relevant financial literacy tools for kids and families to save money—is committing to getting one million Black kids signed up for savings accounts. “Juneteenth is a celebration of our freedom from slavery, but African-Americans can’t truly celebrate freedom until we are financially liberated and the wealth gap is closed,” said Chairman of Vista Equity and Goalsetter investor Robert F. Smith. “By giving Black kids a savings and financial literacy app created by a Black entrepreneur, we can change the way a whole generation of Black kids learns about money and thinks about building wealth. And that can have a profound impact on our entire community.”...

Jun 15, 2020