ilmscore | How To SAVE Money In 2023 | Recession Proof!

How To SAVE Money In 2023 | Recession Proof!

Predictions from this Video

Total: 12
Correct: 0
Incorrect: 0
Pending: 12
Unrated: 0
Prediction
Topic
Status
The US, China, and Euro area economies will stall, with 2023 feeling like a recession for many.
"the three largest economies the United States China and the Euro area will continue to stall in short the worst is yet to come and for many people 2023 will feel like a recession"
US Economy
Pending
A recession is predicted to affect one-third of the world, primarily developed nations, in 2023.
"this recession is going to hit a third of the world this year with most of the developed Nations"
Global Economy
Pending
The cost for lenders to obtain credit scores is increasing by $400, leading to an additional $91 charge for the average home buyer, effective January 2023.
"the fair Isaac Corporation or FICO which is the company that creates credit scores is not going to charge us lenders 400 more to get our credit scores which means the average home buyer is going to pay as much as 91 more to get their credit score starting in January of 2023."
Credit Score Costs
Pending
High-yield savings accounts are making a comeback, with banks offering rates between 3% and 4%.
"the era of high-yield savings accounts is finally back banks are paying anywhere between three percent to a juicy four percent"
High-Yield Savings Accounts
Pending
Series I bonds paid 9.6% interest in the previous year, prompting an investment of the maximum allowed $10,000.
"last year they were paying 9.6 interest which is insane so I put in the maximum allowed ten thousand dollars into it"
Series I Bonds
Pending
The 6-month Treasury bond is currently yielding 4.8%.
"the six month treasury bond and right now that is yielding a juicy 4.8 percent"
Treasury Bonds (6-month)
Pending
Robinhood is offering a 1% match on IRA contributions made through an external bank account.
"the one percent match that's now available to the public now Robinhood is not paying me to tell you about this they are not sponsoring my video the way it works is you connect an external bank account and you put money inside of an IRA an individual retirement account"
Robinhood IRA Match
Pending
Contributing the maximum of $6,500 to an IRA in 2023 through Robinhood will result in a $65 bonus.
"if you can put away the full limit of six thousand five hundred dollars for the year 2023 that one percent will get you sixty five dollars for the year 2023"
Robinhood IRA Match Limit
Pending
The 1% IRA bonus from Robinhood has a five-year vesting period before it can be withdrawn.
"the drawback is that you have to wait five years to get your interest out"
Robinhood IRA Bonus Vesting
Pending
ChatGPT can generate side hustle ideas, including Airbnb, Uber, Lyft, TaskRabbit, and selling on eBay.
"you can ask it to give you 10 ideas and Bam it gives you a list you can Airbnb Uber Lyft you can offer your time on taskrabbit sell things on eBay sell a kidney doesn't matter just pick one"
Side Hustle Ideas
Pending
A side hustle opportunity exists by offering weekly newsletter summaries of content to informational or educational YouTubers.
"you can reach out to your favorite content creators or YouTubers and if they're an information or an education Channel you can offer them a Weekly Newsletter summary of all of their content every single week"
Newsletter Side Hustle
Pending
Health Savings Accounts (HSAs) are recommended as a triple tax-advantaged account, potentially superior to IRAs.
"also get yourself an HSA a Triple Tax advantaged account which is arguably even better than an IRA"
HSA Accounts
Pending