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Yahoo
5 days ago
- Business
- Yahoo
Audit & adjust your spending to reach your 2025 savings goals
2025 is almost halfway over, which means it's a perfect time for people to reevaluate their annual savings goals, spending habits, and income. CFP® and personal finance expert Bobbi Rebell sits down with Wealth's Brad Smith for a conversation to share her strategies on acclimating to a new budget and unnecessary spending. To watch more expert insights and analysis on the latest market action, check out more Wealth here. All week long on wealth, we're conducting your mid-year financial checkup. If you're one of the Americans who wanted to save more or spend less in 2025, you set this at the outset of the year as one of your goals. Well, guess what? This is your opportunity for a progress report. I'm joined in studio by Bobby Ribell, who is the CFP and personal finance expert. Bobby, good to have you here in studio with us. So, let's talk about these mid-year check-ins. How can a mid-year check-in and audit, how can this help with some of your spending habits? Okay. Well, the first thing you want to do is you want to look back at your history because we learn so much from history, we know. So you want to look at not your New Year's resolutions, Brad. You want to look at your New Year's expectations. And think about how you did relative to that. So look at how you did in terms of your income. What were you expecting? Did you expect to get a raise? Maybe you got it, maybe you didn't. Did you expect to earn money in overtime? How did your actual earning come in based on your expectations? And then you want to think about how your spending went. What were your expenses? Were they higher than expected? Did you have some surprises? And of course, think about where you are in terms of your debt. Did you make the kind of progress that you would hope to make? And finally, savings and investments. So, take a holistic point of view. So once you take that in, what do you do with that information? You need to analyze it. You need to actually take the time. I know we talk about being mindful with our money these days, and I talk about financial wellness a lot. But the truth is that really matters, taking the time to assess how you did. And the interesting thing is, there are some things we can control and some things we can't control. So think about what you could control in terms of your income, right? How much, how did you do? Did you take the time to ask for that raise? Did you offer to work the overtime? Did you really get going on that side hustle? How did that income come, and what did you have control of? And the same thing with the spending. Did you get pulled into spending things that you, spending on things that maybe you regret a little bit? But also, I think people should give themselves a little bit of a break. This year has been tough. There's a lot of things that hit us that were not in our control. So we need to give ourselves a little love and remember things like inflation, things costing more, we couldn't control that. Think about though what you could do differently. That's why I needed to go to that Beyoncé concert. It just had to happen, even though it would have been overspending by normal years. But how do you adjust and pull back from overspending and course correct? Yeah, so you want to really think about how you're spending. Think about why you're spending. So you had to go to the Beyoncé concert. You had to. And, and you know, we can talk about how you manage your summer spending, how you might think about your priorities, but really think through what you can do to take better control and spend more deliberately. So that might mean little, you know, tricks and tips. So write down your budget, put it somewhere where you can see it, but then take it a step further. I like to think about renewing your budget vows. So you put, maybe on your refrigerator, whatever it is, your spending plan, your budget, what you have, and then you get used to it. So you don't really see it anymore, take it down once a week, once every two weeks, put it in your calendar as a reminder, rewrite it, adjust it, constantly rework it, because life happens and it may not be realistic anymore. So constantly checking in with that. Had to. You also might want to do some little tip, little tips and tricks like putting when you're shopping online, put your stuff in your wish list, not your cart. It's one extra step. Remove that credit card from inside your, you know, that remember, when your computer remembers it, you know how that is. You want to remove that. Wait to make those peer, those purchases, and of course, unsubscribe to those retailers who love to remind you that every day is the best sale ever. Every day is your last chance to get that deal that you know you want to get. And I also say, shop your closet and your home. Not just clothing. We tend to buy things that we already have in our home just because we can't find it. It makes sense to get organized. And then, you know, we talked about the work in, that Walmart work in. It's not, it's not a bad thing to buy a dupe. Own it. Right. Yeah. Yeah. That's facts. You've got a lot of good vendors or vendors on Canal Street who could sell you a dupe, for sure here. Yeah, well those are forgeries. We're talking legit dupes. We're keeping it above board, legal, inspired by, inspired by. How do you leave room in your budget for those summer vacations and other fun activities? Generalizing the two versus inspired by. Like Beyoncé concerts, right? Like Beyoncé concerts. Right. So you want to think about your priorities and really write them down, and think about where do you get the best bang for your buck. And it might be one giant splurge event like, you know, a Taylor Swift or Beyoncé concert, and that may be it. And then, you know, you can just say, you know what's the best value for the money in the summer? Being lazy. Just chill with your friends. It's okay to spend less and really make sure that you find a way to get the things that matter the most to you. Absolutely. Like Beyoncé. It's all about Beyoncé today. Exactly. The, the, the she economy powered by Beyoncé. Thank you so much for joining us. Thanks for having me.
Yahoo
12-05-2025
- Business
- Yahoo
Advanced savings strategies for when you've mastered the basics
Just less than half of Americans have enough money saved up to cover three months of expenses, according to a Pew Research survey. CFP® and personal finance expert Bobbi Rebell explains her various approaches to tracking savings, such as setting new goals and avoiding "lifestyle creep" that pushes people to spend more for higher costs of living. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Sign in to access your portfolio
Forbes
18-04-2025
- Business
- Forbes
7 Things You're Unconsciously Doing That Cut Your Salary In 2025
Talent is nothing without making yourself strategically visible You're talented, you work hard, and you've studied hard. You're even upskilling online with an industry-recognized certificate. But despite sending hundreds of job applications, you're met with the same auto response: 'We're sorry, but we've decided to go with another candidate at this time.' Despite constantly asking your manager for a promotion or pay raise in the next quarter, you're met with, 'This is not a good time.' (Or worse, your co-worker with less expertise and qualifications than you lands the salary increase.) And regardless of you launching your business online and being visible in all the right places, when it comes time to pay for your service, no one wants to work with you. It's totally baffling and frustrating, especially when, on paper, everything listed in the job specs or project requests matches exactly with the skills and experience you have to offer. You're unable to move up in your career, or increase your salary and income because you're consistently met with a roadblock. Salary growth is needed now more than ever. The cost of living remains high, and today's buying power is so low that Gen Zers and even Millennials are struggling to afford basic necessities, including paying their student debt and housing costs. Many young professionals can't even afford the 'luxury' of purchasing their first home and are swamped spending more than half of their salaries on housing or are living with parents just to get by, per a survey. But unfortunately, we're often the cause of our woes. Don't get it wrong, being hit with a layoff or financial uncertainty can happen to anyone. However, the quality of having enough career resilience to bounce back and hardly feel the impact comes down to several factors, a few of which will be addressed below. There are habits that we tend to repeat over and over which initially seem harmless, but in reality, through doing them, you sabotage your earning potential and close the door to greater career opportunities. These micro-habits send loud signals to employers and potential clients that you're not confident in your skills, or you're less capable or less high-value than the price/salary you're demanding in return for your expertise. Here are a few of them. Ever caught yourself saying 'I just….' or 'I only…' or 'It was only…'? To be honest, this is something that we're all guilty with at some point in our lives. Starting your sentences with these diminishing words and phrases undermines your value in the mind of the listener. It takes away from what you really did and makes everything you say from that point on, irrelevant. Build the habit of getting straight to the point and owning your achievements so you no longer devalue your contributions. To give this extra "oomph," swap diminishing language with some power verbs and impactful language. For instance, 'I spearheaded,' 'I led,' 'I was a core contributor in,' etc. Here's something else that might surprise you: a study conducted by Harvard Business School in 2024 revealed that women generally tend to undervalue themselves when applying for job opportunities, more than their male counterparts. Their findings confirmed the results from the well-known Hewlett-Packard study, where male applicants applied for roles even though they only met 60% of the criteria, while women waited until they were at least 100% aligned with the job description and requirements before applying. This is one of several contributing factors as to why women are still underrepresented in certain fields and job titles. As a rule of thumb, you should always apply for a job or new career-enhancing opportunity as long as you meet at least 70% of the criteria. Only applying for jobs that you feel totally comfortable with keeps you in a mediocre comfort zone, and doesn't allow your career or salary to grow. You're essentially pigeonholing yourself. This is a significant one. Many job interview candidates fail because they neglect to answer interview questions using concise storytelling that speaks directly to the results they delivered, and this not only costs you a new job but can also cost you new business if you're an entrepreneur, and a promotion if you're applying for one. Use structured models like CAR (context, action, results) and STAR (situation, task, action, results) to convey context, the actions you took, and tangible impact. Use metrics and numbers as much as possible to quantify this. Another costly mistake many professionals make is when they fail to pay attention to their online footprint. It's not enough to have a basic online presence or a stagnant LinkedIn profile. You need to be active and intentionally visible, for all the right reasons, of course. Create a portfolio website. Share your thought leadership on LinkedIn, on Medium, even on X (formerly Twitter). Share your expertise and pitch yourself for expert commentary opportunities so you can be featured by journalists and leading publications in your field. Establish credibility and authority. This is what builds trust instantly, which ultimately leads to them being willing to pay a premium for your services and skills because you're a verified expert. Stop saying 'we launched a new platform,' 'we delivered this program,' etc. While it's OK to say 'we' when introducing a story about an achievement at work, don't continue leading with the 'we.' Once acknowledging them at the beginning, it's time to give yourself some credit. The listener needs to understand exactly what your role was in that team and what you specifically did to contribute uniquely as an individual. For example, you could say, 'We launched this new platform, and I collected data on our user feedback and made suggestions for improvement to the team.' Subtle habits in your language and wording can make a significant difference to your salary Do you recognize yourself in any of the mistakes on this list? Have you been guilty of one or more? If so, now is your 'aha!' lightbulb moment. Stop hiding your value. Upgrade your language and own your impact. It's time for the world to see exactly how much you're worth.
Yahoo
12-03-2025
- Business
- Yahoo
Cybercriminals Shift Tactics as Credential Harvesting Tops Payment Data Theft in Retail
Cybercriminals are getting personal. Literally. According to KnowBe4's 'Global Retail Report 2025,' the greatest threat is 'credential harvesting' where personal information is stolen. Researchers at the firm said that credential harvesting, 'which is often orchestrated through phishing attacks, has become the predominant threat, accounting for 38 percent of all compromised data in 2023, while payment card data theft dropped to 25 percent.' More from WWD January Digital Unveils 'January Growth' to Serve Fast-growing E-commerce Brands Gen Z's Economic Impact Soars as Workforce Entry Boosts Spending Power to Over $1 Trillion Survey Reveals 84% of Americans Fear Cybersecurity Risks in Online Banking This research comes at a time when cybercrime is top of mind for retailers as well as consumers. It follows a report from that polled over 1,000 U.S. consumers about online banking and found that 84 percent of respondents said they are worried about cybersecurity. This shift occurs as the total number of cyberattacks in the retail sector has jumped 56 percent. 'This puts retail in the top five industries targeted by cybercriminals,' the report's authors said, adding that the average cost of a single retail data breach 'reached $3.48 million in 2024, an 18 percent increase from 2023.' 'Our research reveals a critical shift in how cybercriminals are now prioritizing credential theft over payment card data,' said Stu Sjouwerman, chief executive officer of KnowBe4. 'Stolen credentials allow immediate access to personal accounts, bypassing security measures like passwords and two-factor authentication. The good news is that organizations implementing frequent security awareness training are seeing dramatic improvements, demonstrating that human risk management must be a core component of any retail organization's security strategy.' The growth of cybercrime has a lot to do with how consumers shop. The report noted that more than 62 percent of all purchases are made with a credit or debit card. 'When a customer uses a card to make a retail purchase, whether online or in store, they are entrusting that retailer with their credit card and other personally identifiable information (PII), including their name, address and phone number,' the report stated. 'If they access their account on the web or through the store's point of sale (POS) system, the retailer also has their past purchasing information and tracking data including any changes of addresses, and other addresses they have sent packages to.' Consequently, KnowBe4 researchers said it should come as no surprise that the retail sector has become 'a nearly irresistible trove for a growing number of cybercriminals. Unfortunately, new AI tools have not only enhanced the abilities of experienced cybercriminals, but also given state-of-the-art intrusion methods to relatively unskilled or novice attackers.' Digging deeper into the research showed that North America's retail sector experienced the highest percentage of cyberattacks with 56 percent, while Latin America experienced the second highest at 32 percent. Europe experienced 11 percent of attacks. The report also noted that the U.S. retail sector accounted for 45 percent of global ransomware attacks 'despite representing only 28 percent of market share, making retail the second most targeted sector.' To combat these crimes, retailers need to reduce the 'human risk' factors, which include workforce education of phishing tactics and other measures. 'Conducting security awareness training and simulated phishing evaluations for one year or more can reduce the likelihood of employees falling for phishing attacks for organizations of all sizes,' the report's authors said, adding that there is a significant impact of security awareness and education. Training on employee susceptibility to phishing attacks dropped from 42.4 percent to just 5.2 percent in large retail organizations, 'while small and medium-sized retailers saw similar improvements, with rates dropping to 4.7 and 4.5 percent, respectively, after one year of continuous training.' Best of WWD Retailers Leverage First Insight for ESG Alignment What Steph Curry's Sneaker NFTs Can Teach Fashion Year in Review: Brands, Retailers Go Hyper-digital in a Challenging Landscape
