Author: Christopher Lewis

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CPIC’s Insurance Business Revenue Growth in 1H 2022 hit a New High in The Past Three Years

CPIC’s Insurance Business Revenue Growth in 1H 2022 hit a New High in The Past Three Years

Functioning Earnings Attributable to the Mum or dad Organization Enhanced by 9.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} YOY

HONG KONG, Aug. 29, 2022 /PRNewswire/ — CPIC（601601.SH 2601.HK CPIC.LSE）released its 2022 interim benefits today.

In the 1st 50 percent of 2022, in the facial area of a variety of difficulties, CPIC took the initiative to get over the problems, adhered to the higher-excellent development path, deepened the transformation of company products, promoted the diversified growth of pipelines, and accelerated the ecological structure of overall health care, with unremitting endeavours and struggles, had realized steady and progressive small business effects.

In 1H 2022, CPIC Group’s insurance policies company earnings elevated steadily to RMB 242.5 billion, presenting an increase of 8.{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} 12 months-on-12 months, the progress amount reached a new higher in the earlier a few years the group’s functioning earnings attributable to the parent corporation amplified by 9.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} calendar year-on-year, and the group’s embedded worth amplified by 2.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from the conclude of the prior yr. It signifies the basis of extended-term secure procedure was additional consolidated. Continual progress was created in the transformation of CPIC Lifestyle, the main human capacity of brokers was properly improved, and the worth bancassurance business accelerated, driving coverage company revenue to RMB 149.1 billion and showing a yr-on-calendar year increase of 5.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. CPIC Residence seized the chance of domestic industrial framework up grade and managed the momentum of rapid enhancement, attaining an insurance policies organization earnings of 91.6 billion yuan, presenting a calendar year-on-yr maximize of 12.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, with a regular raise in market place share and constant optimization of business framework. The financial investment section actively responded to the adverse consequences of market place fluctuations and slipping fascination fees, ongoing to make improvements to the asset and legal responsibility administration process, and strengthened the developing of professional expenditure and investigation abilities. The Group’s property under administration amplified to RMB 2,741 billion, more boosting its market competitiveness.

CPIC Life’s new insurance plan has attained fast expansion. The cash flow of lifetime coverage organization was somewhere around RMB 149.05 billion, presenting a 12 months-on-12 months increase of 5.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, and the expansion price of new insurance plan business was 25.8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The working gain of CPIC Lifestyle was approximately 15.16 billion yuan, presenting a 12 months-on-calendar year increase of 6.{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}The remaining marginal balance was approximately 345.64 billion yuan, displaying a minimize of .8{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from the close of the previous year.

The thorough ratio of CPIC House company enhanced as opposed to the former yr, and the premium cash flow obtained a rapid expansion. As opposed with the exact period of time of past 12 months, the in depth expense ratio was 97.2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, presenting a lower of 2.1 proportion factors among the them, the in depth expenditure ratio was 27.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, presenting a decrease of 1.7 percentage details and the in depth decline ratio was 69.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, exhibiting a lower of .4 percentage points 12 months-on-yr. Insurance policies small business money was approximately 92.91 billion yuan, displaying a 12 months-on-year improve of 12.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} between which, non-automobile insurance business profits elevated by 17.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} year-on-calendar year, accounting for 48.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, an enhance of 2. proportion factors. Auto insurance plan strengthened the making of client management abilities, and customer viscosity ongoing to boost the high-quality of non-auto insurance policies business enterprise enhanced, though emerging places such as health and fitness insurance coverage, agricultural insurance plan, and liability insurance taken care of a swift advancement.

Adhering to the asset allocation dependent on the qualities of insurance policy liabilities and crossing the macroeconomic cycle, the over-all overall performance of the expenditure aspect was steady. The annualized advancement amount of the Group’s expenditure assets was 3.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, decreased 1.5 share details yr-on-12 months the annualized gross expense generate was 3.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, dropped 1.1 percentage points 12 months-on-year the annualized net financial investment yield was 3.9{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, down .2 proportion points 12 months-on-12 months the 10-calendar year ordinary web expense charge of return, overall financial investment price of return and web benefit expansion level all exceeded the embedded worth long-term financial investment return assumption.

About China Pacific Insurance coverage (Group) Co., Ltd

China Pacific Insurance policy (Group) Co. Ltd. (hereinafter referred to as “CPIC”, or the “Company” Stock Code: 2601.HK, 601601.SH, CPIC.LSE) is an insurance coverage holding organization integrated on the foundation of China Pacific Insurance policy Firm, which was founded on May well 13, 1991. It is a top insurance policies group headquartered in Shanghai, which is the 1st insurance coverage group simultaneously listed on Shanghai, Hong Kong and London Inventory Exchanges. CPIC is a leading detailed insurance policies group the Enterprise delivers a broad assortment of chance options, money planning and asset management services to about 100 million consumers through its nationwide community of distribution and diversified services platforms.

This push release is dispersed by Fantastic Sky Financial Team for China Pacific Insurance policies (Group) Co. Ltd.

Source China Pacific Insurance policies (Group) Co., Ltd.

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The Most Important Part of the Student Loan Relief Plan | Personal-finance

The Most Important Part of the Student Loan Relief Plan | Personal-finance

University student personal loan financial debt is a apparent challenge in the U.S. Whichever side of the political spectrum you might be on, and no matter whether or not you agree with President Biden’s loan forgiveness strategy, college student debt that is spiraling out of handle is a big dilemma for our nation.

It can be also vital to recognize that the university student loan strategy released by the White Home does a ton additional than only forgiving $10,000 or $20,000 for each suitable borrower. There are various other provisions that are built to correct the challenge from a lengthy-expression perspective.

A single of the major contributors to the scholar mortgage financial debt crisis

You could have listened to university student personal loan horror stories that go one thing like this. A person borrows $70,000 to fund their schooling, enrolls in an revenue-centered reimbursement plan, helps make on-time college student bank loan payments each and every thirty day period for 5 years, and then checks their harmony. Now they owe $90,000.

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The motive for this is that when every month payments are confined to 10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the borrower’s discretionary earnings beneath most cash flow-primarily based repayment designs, the fascination that accumulates on the bank loan is normally far more than the demanded payments. And below present law, any unpaid fascination receives added to the loan stability.

Here’s an case in point. Let us say that you graduate with $50,000 in student loan credit card debt at an ordinary desire rate of 6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. Your to start with work is not a superior-shelling out just one, so you are only demanded to spend $150 for each thirty day period under an revenue-based repayment strategy. Having said that, based on a 6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} curiosity amount, the fascination on your financial loans is $250 per month. Due to the fact your necessary month to month payment would not go over this, you have $100 in unpaid curiosity every thirty day period that is added to your principal balance. You can most likely see how in excess of time, this can begin to increase a sizeable amount of money to your credit card debt. The arithmetic of compound interest can be an investor’s most effective mate but can generate a nightmare situation when borrowing revenue.

The most vital component of the scholar loan reduction approach

President Biden’s pupil financial loan relief plan aims to modify profits-primarily based compensation ideas in quite a few means, such as restricting the month-to-month payment to just 5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of discretionary earnings on undergraduate loans and decreasing the amount of income that is thought of “discretionary.”

However, there is also a provision that suggests profits-primarily based reimbursement designs will:

“Cover the borrower’s unpaid regular monthly interest, so that as opposed to other present earnings-pushed repayment options, no borrower’s mortgage equilibrium will increase as very long as they make their every month payments — even when that month-to-month payment is $ due to the fact their revenue is minimal.”

This effectively removes the likelihood of any scholar bank loan borrower’s personal debt rising in excess of time whilst they’re generating payments, which is a single of the greatest factors of the federal college student loan application that can entice debtors in an unlimited cycle of at any time-escalating personal debt.

Will the president’s pupil loan approach take care of the dilemma?

To be correctly very clear, pupil financial loan balances growing because of to unpaid fascination is only a person component of the challenge.

There is also the situation of growing higher education expenditures. About the previous several decades, tuition and other college-related bills have developed substantially more quickly than over-all inflation, which has resulted in the need to have for college students to borrow much more dollars about time. Whilst the program aims to tackle this, it will not have a lot of concrete information, other than generating a list of educational facilities whose learners are graduating with the maximum financial debt hundreds.

Also, student financial loan credit card debt is the only main form of individual credit card debt that is not equipped to be discharged in bankruptcy, and the new plan does nothing at all to transform that simple fact.

In a nutshell, the president’s pupil mortgage strategy is not very likely to solve the student financial debt crisis solely, but it’s crucial to realize that you will find a good deal additional to the approach than the headline information of personal debt forgiveness.

The $18,984 Social Security bonus most retirees totally ignore

If you happen to be like most People, you’re a number of many years (or a lot more) behind on your retirement personal savings. But a handful of very little-recognised “Social Protection secrets” could assist guarantee a strengthen in your retirement income. For illustration: a person straightforward trick could pay out you as a great deal as $18,984 additional… each year! As soon as you learn how to maximize your Social Safety positive aspects, we imagine you could retire confidently with the peace of thoughts we’re all just after. Basically simply click below to find how to study more about these approaches.

The Motley Fool has a disclosure coverage.

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Travel solutions: Travel insurance purchased through Vrbo gets lost in the shuffle | Travel

Travel solutions: Travel insurance purchased through Vrbo gets lost in the shuffle | Travel

Q: I compensated for a holiday vacation rental on Paradise Island in the Bahamas via Vrbo. I also purchased trip cancellation through CSA Travel Safety on the Vrbo website and have confirmation of reported purchase.

Regrettably, a person of the users of my celebration is not able to travel for healthcare causes. I called CSA to file a claim, but they have no document of my plan. A agent also informed me they have been obtaining issues with Vrbo confirming vacation insurance plan and not sending the facts to CSA.

CSA explained that I am not coated as much as they are concerned.

I attained out to Vrbo again. An agent told me to call CSA. I even copied and pasted my insurance plan confirmation in the correspondence, but he wasn’t fascinated. I also requested him for his badge number, but he stated he wasn’t permitted to give it.

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To resolve the trouble, I would recognize affirmation of a vacation insurance policy so I can choose the vital ways to receive a refund. Can you support me, be sure to? — Sam Maniar, Hudson, Ohio

A: If you paid for a journey insurance coverage by way of Vrbo, you really should have it. What Vrbo does — or does not — do with your funds at the time it confirms the coverage is not your problem.

Your correspondence with Vrbo plainly exhibits that you ordered an insurance policies coverage. That turned out to be a smart move, simply because the policy covers an unforeseen sickness.

Considering the fact that a member of your get together just can’t vacation, you must get a whole refund for your stay.

The paper trail is bewildering, but it supports your placement. Vrbo’s process claimed, “The authentic invest in did not go by way of and was canceled.” However, you received a affirmation. But Vrbo also claims it initiated a retroactive purchase of the vacation cancellation insurance for you. So, you need to have been lined.

I checklist the names, figures and email addresses of Vrbo’s executives on my shopper advocacy site at www.elliott.org/corporation-contacts/vrbo-buyer-services-contacts. It appears to be like you attempted to get in touch with them, but never heard back again. Which is problematic.

There is only a single way you could have identified that you did not have coverage, and that is to watch your credit card buys cautiously. If you’re expecting a transaction, and it doesn’t go through, you will will need to make inquiries. That is especially essential with coverage. And sure, even if you get a confirmation.

I contacted Vrbo on your behalf.

“This is a elaborate scenario,” a Vrbo agent told me. “Our consumer relations group has been searching into what transpired with Mr. Maniar’s scheduling and (has been) talking with CSA to get additional information. We are also delivering Mr. Maniar with a entire refund for the price of his reserving as a gesture of goodwill, and he will be contacted by our billing team for future actions.”

Christopher Elliott is the ombudsman for Countrywide Geographic Traveler journal. You can go through more travel strategies on his blog, elliott.org, or e-mail him at chris@elliott.org

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Did US jobs growth wane in August?

Did US jobs growth wane in August?

Will careers details sign a delicate landing for the US economic climate?

US employment facts for August are expected to appear in lessen than all those for July, but keep on being in enlargement territory — reflecting a 20th straight month of development.

Economists challenge that figures on Friday will exhibit the US added 290,000 positions in August, marking a 45 for each cent drop immediately after July’s figure of 528,000 appreciably surpassed estimates.

Jennifer Lee, a senior economist at the Financial institution of Montreal, said the August consensus displays a sea modify for employers, who may possibly however need more employees, but have modified their expectations in a limited labour market place the place the unemployment price sits at historical lows. BMO expects 250,000 careers to have been included.

“Let’s say you were being seeking for 12 individuals to seek the services of and you have been locating it very hard to obtain the right persons,” Lee stated. “You may possibly be pondering, do I actually want a different 12 persons to hire? Maybe we can get by with only 6 [hires] . . . and squeeze a little little bit additional out of the current workforce.”

Robust employee desire, put together with a modern tough merchandise report that mirrored a month to month uptick in business expenditure, are indicators to Lee that the US economy is keeping up even as the Federal Reserve raises fascination premiums to interesting it.

Even as big stores have slice their full-calendar year advice, they have however reported solid profits figures that sign resilience in US purchaser spending. Macy’s and Nordstrom have in current days topped analysts’ expectations for quarterly revenues, and Household Depot documented file-superior quarterly revenue previously in August.

Lee said she expects a “significant slowdown” in the US economic system in the second fifty percent of 2022 and into 2023, but is not completely ready to connect with this a economic downturn.

“If it is a economic downturn, it’ll be the strangest a single ever,” she stated. Jaren Kerr

Have soaring natural gas costs propelled eurozone inflation even greater?

Eurozone inflation facts for August will be closely scrutinised following 7 days as investors query how considerably the European Central Lender will require to tighten monetary coverage against a backdrop of soaring strength expenses.

Escalating oil and all-natural gas price ranges, stoked by Russia’s war in Ukraine, pushed eurozone inflation to 8.9 per cent in July. Economists polled by Reuters anticipate that determine to access 9 for every cent when facts are introduced on Wednesday.

Jane Foley, head of Fx system at Rabobank, said rising gas price ranges have brought on investors to have a “real destructive sentiment bordering the eurozone that has built up over the past number of weeks”.

Contracts joined to TTF, Europe’s wholesale organic fuel cost, hit a document substantial on Friday over €343 a megawatt hour.

The ECB is anticipated to increase fascination charges by at least .5 percentage details at its September assembly in an effort and hard work to deal with history inflation. But buyers are involved that greater borrowing fees risk tipping the location into recession.

Germany’s central financial institution chief has currently warned that inflation will not subside by 2023 and that the history electricity rates triggered by Russia’s source squeeze would push the country’s inflation to previously mentioned 10 per cent by the autumn. Nikou Asgari

Did Uk mortgage loan approvals drop more in July?

Uk house loan approvals are envisioned to have fallen even more in July, continuing a downward pattern brought about by climbing home finance loan fees and historically significant inflation.

Economists polled by Reuters expect the Bank of England to expose that 61,750 mortgages were being accepted past month, down from 63,726 in June and from a peak of far more than 100,000 in November 2020.

Bucking the craze, Sandra Horsfield, an economist at Investec, expects a compact enhance [to 64,100] but added that “their trend is continue to pointing down — a picture that, as extensive as curiosity premiums are soaring steeply and financial potential customers and self-assurance are deteriorating, must continue being in place”.

In June, the Lender of England’s information confirmed that the desire price on freshly drawn home loans amplified by 20 foundation factors (.2 percentage details) to 2.15 per cent, the optimum due to the fact 2016, next six consecutive coverage fascination level boosts by the BoE.

Sector pricing implies anticipations that the policy rate will a lot more than double to 4 per cent by early upcoming 12 months from its recent level of 1.75 for every cent, as electricity and shopper costs continue on to soar.

As a consequence, consultancy Oxford Economics forecasts home selling prices will start off shrinking on an once-a-year basis from upcoming yr, down from the double-digit enlargement of early this year.

Column chart of Annual {1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} change showing Oxford Economics forecasts UK house prices to contract

“Skyrocketing property price ranges are possible to sense the pull of gravity from the escalating charge of dwelling crunch come autumn, with the impending increase to the vitality price cap set to further fuel inflation and the spectre of larger interest premiums to overcome soaring rates upping borrowing costs,” stated Myron Jobson, senior individual finance analyst at financial investment support supplier Interactive Trader. Valentina Romei

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Appeals court denies enhanced benefits to worker hit by car

Appeals court denies enhanced benefits to worker hit by car

An Ohio appellate court on Tuesday ruled that a employee was not entitled to an improved award of added benefits for his accidents from staying struck by a car or truck, due to the fact the accident did not arise in a “workshop.”

In 2018, Luis Ybarra was working for vehicle transport company Cassens Corp. at the out of doors lot of the Chrysler Team Property in Toledo, Ohio, shifting cars from the great deal to a staging area where they would be loaded on to auto carrier trucks or trains. The parking large amount is enclosed by a fence with guarded gates for entry and exit and is not open up to the basic general public, according to Point out ex rel. Cassens Corp. v. Industrial Fee, submitted in Court docket of Appeals for the 10th District of Ohio, in Columbus.

Immediately after parking a new car in the staging space, Mr. Ybarra was going for walks in the garden to get yet another car when he was struck from at the rear of by an additional automobile being pushed by a co-employee. The car or truck had snow covering its window, and the co-worker was navigating by sticking his head out of the window. The co-worker did not see Ybarra and violated a get the job done rule necessitating motorists to apparent snow off the windshields. He was afterwards terminated for his misconduct.

Mr. Ybarra obtained personnel payment rewards and later on submitted an application for an enhanced award, asserting Cassens experienced violated a unique security prerequisite in Ohio law that applies to “workshops” and “factories.” It calls for that all taxi glass for motor vehicles be security glass or equal, with the eyesight unimpaired by its condition.

A personnel listening to officer granted Mr. Ybarra the improved award, and just after the Industrial Fee declined further more administrative enchantment, Cassens sought mandamus relief. A judge with the Court docket of Appeals for the 10th District of Ohio advisable that writ be denied.

The Court docket of Appeals adopted the judge’s conclusions of fact but rejected his analysis, ruling Ohio circumstance legislation has described “workshop” as employed in the administrative code as “a home or place whereby ability-driven equipment is employed and handbook labor is exercised by way of trade for gain or or else.” There is also scenario regulation setting up that an outside place can be a workshop if it is enclosed by perimeter fencing.

“Here, the part of the Chrysler Team Lawn facility in Toledo in which Cassens staff engaged in their do the job duties is an out of doors, open-air storage good deal in which freshly created vehicles are saved as they await transport to sellers and other sellers,” the court said. The commission relied on the fence all-around the ton to find it was a workshop, but the courtroom mentioned the presence of a perimeter fence does not routinely compel the conclusion that the ton is a workshop.

WorkCompCentral is a sister publication of Organization Insurance policy. Additional tales right here.

 

 

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50 Personal Finance Tips. Step into enlightenment | by Destiny S. Harris | Aug, 2022

50 Personal Finance Tips. Step into enlightenment | by Destiny S. Harris | Aug, 2022

Step into enlightenment

Photo Credit: Magda Ehlers

Keep your rent/mortgage payment 10–15{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} (or less) of your net income.

Avoid car payments. If you decide to take on a car payment, have the cash (in your bank account) to buy the car outright.

Keep your net worth positive — at all times.

Always have a minimum of 5 streams of income. But aim for at least 10+ streams. Never depend on one source of income. Diversify. Diversify. Diversify.

Budget daily. Keep track of your money daily. Always know what is happening when it comes to your money. Be in the know.

Stay in charge of YOUR money. Never leave the responsibility of your money up to someone else.

Pay for everything via credit card to earn money or points back on purchases, and increase your financial security.

If you can’t use a credit card responsibly, stay away from them altogether.

If you have kids, open up a retirement or investment account for them the day you get pregnant, adopt, or start prepping to have your kid. Why not set up your kid to be a millionaire before age 30?

Buy only what you truly desire. Don’t buy to impress. Don’t buy because everyone else is buying. Don’t buy to fill a void. Don’t buy things you won’t use consistently. Always buy intentionally.

Increase your income yearly. Never go a year without increasing your income. Get creative.

Repair your car instead of buying a new one.

Keep an eye on your credit score and credit health to ensure you’re the only one using it.

Until you reach financial independence, live with family, friends, roommates, etc., to save money and live below your means. But you may want to continue living with others even after reaching financial independence. Extra cash flow always feels good.

Be cautious of costly habits.

If you have an employer, max out your 401k match, and contribute the max amount per year. Find a way to live off the rest comfortably.

Spend substantially less than you earn. Always have money left over at the end of the month. Avoid living paycheck to paycheck at all costs.

Be careful who you shack up with, partner up with, or date; ensure they are money conscientious. Make sure the person you are with has a healthy relationship with money. Maintain firm financial boundaries. Do not let others divert you from your financial goals.

Don’t have kids you can’t afford.

Intake copious amounts of financial advice, but make your own decisions about which advice to follow. But the one piece of advice you should always follow is: Invest now. Invest early.

If you have debt, invest while you pay off your debt because one thing you cannot get back is time; and compound interest thrives off time.

Never cease your financial education. Read books and articles, attend seminars, listen to podcasts, and chat with financial experts. Be sure to acquire new financial knowledge consistently. When you know better, you do better. The earlier you can learn about money, the better off you will be financially.

Don’t spend money to impress people, not even yourself. What a waste this is.

Don’t live in states you can’t afford. Instead, take a vacation to the location.

Avoid student loans if you can. Aim to go to school for free, with scholarships, jobs, programs, etc.

Create a 1–2 year emergency fund. Traditional advice recommends 3–6 months, but this only buys you a little bit of time in true emergencies. Sometimes one emergency can wipe out a 6-month fund in no time.

Don’t buy furniture for your house when you first move in. Buy one or a few pieces at a time that you can afford to pay with cash. When I was a kid, I remember my neighbor’s house was unusually empty (according to American standards). She was smart, though. She slowly furnished her house as it made sense for her budget.

Don’t travel if you can only afford to with credit cards. Find deals and discounts to afford it. Never go into debt for leisure activities.

Consistently attend free financial, educational events to acquire knowledge and bounce ideas off other financially in-tune people.

Save 50{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of your income.

For those who cannot save 50{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of your income, ensure you have $500-$1000 leftover every month to put into savings/investments.

Don’t have kids until you can afford to raise them and invest in them fully without going into debt.

Ensure your car payment, car insurance, and car expenses add up to no more than 10{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of your monthly net income.

When you travel, try to do cruises, group trips (split hotel rooms), and multiple destination style trips, so the costs are lower.

Use your credit card rewards as a second emergency fund.

Use your credit card as an emergency fund before dipping into your liquidated emergency fund.

Anything you buy from the store that you don’t use, return it or sell it. Go through your entire house, and get rid of sh*t. Remember, there are always hidden costs to accumulating things, and three of those hidden costs include your mental health, compromised mobility, and financial burden.

Buy intentionally. Buy less. Buy less frequently.

Create at least two passive income streams, as Ben Le Fort recommends. My one add: Create two passive income streams that do not require long-term work input (e.g., royalties).

Use hand-me-downs for babies, toddlers, and kids — they’re constantly growing, so why waste money?

Avoid overpriced luxurious name-brand clothing until you can afford it without hurting your soul and thinking twice about it.

Avoid prioritizing impressing others — this could save hundreds of thousands to millions of dollars over your lifetime.

Don’t buy gourmet groceries if it’s hurting your end-of-month budget.

If you’re struggling financially, don’t eat out.

When it comes to activities: get creative and search for free ones.

Ask for “cash only” for birthdays.

Use water filters instead of bottled water.

Read one personal finance article daily to increase your financial intelligence and expose yourself to various financial knowledge. You never know which article will spark a profitable financial idea that will change your life.

Stop wasting food.

“American households waste, on average, almost a third of the food they acquire, economists report. Divided among the nearly 128.6 million US households, the waste could cost the average household about $1,866 per year. This food waste has an estimated aggregate value of $240 billion annually.” — Futurity

Stick with what you know when it comes to investing (until you know enough about another specific area of investing). If you’re a techie, you’ll probably have better knowledge about what technology to invest in compared to someone in education, who has better knowledge of the educational trends.

Have at least one or more friends who are financially better off than you, financially smarter than you, and succeeding in the area of finance. They’re your ticket to financial elevation.