Tips on How to Save Money (Even When You're Broke), by Father-Daughter Investor Duo
*By Carlo Versano*
Whether you're paying off student debt, a car loan, or a cell phone bill, this father-daughter duo wants you to remember there's a "Millionaire Within," and it's your job to find it.
Such is the wisdom ー and title ー of a book by Walter Wisniewski and Allie Vanaski, the owners of Arcadia Wealth Management who are preaching their family's financial advice for millennials, which revolves around saving, saving, and more saving.
Speaking to Cheddar, Wisniewski and Vanaski outlined the four "buckets" of equity young people should strongly consider:
* **1. Cash savings and money in the bank**
* **2. Invested assets, including IRAs or 401Ks**
* **3. Use assets, like a home or car**
* **4. Human capital, or "your power to produce"**
The pair said some "financial multitasking" can go a long way in creating a workable savings plan, even if you feel hampered by crushing debt. Look at your cash flow, and allocate a little for debt (depending on what your interest rate is) a little for savings, and a little for investments. "You have to do little pieces all at the same time," Vanaski said.
We tend to separate money based on subjective criteria like where it came from, Wisniewski added. But that makes it harder to stay on track: whether it's a paycheck or a check from grandma, the source is irrelevant, according to the authors. "Save a little bit of everything you've earned," Vanaski said.
As for the stock market, there's no better time to get in then when stocks are on the dip ー like now ー especially when you're young and have a long investing horizon, Vanaski said: "We look at it as: stocks are on sale."
"The power of compounding dividends means early investments are apt to increase in value even in a turbulent market."
"Save early and don't worry about the market," Wisniewski said. In this case, saving means investing.
"Everyone has the power to become a millionaire," Vanaski added.
For full interview [click here](https://cheddar.com/videos/how-to-find-your-inner-millionaire).
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
