Kevin O'Leary: Make This Your New Year's Resolution
December 27, 2018
13,338
296
13
2.32%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
Cnbc Episodes Around December 27, 2018
See what was published immediately before and after this episode.
YouTube Description
as posted by the channelThe start of a new year is more than just an opportunity to pop some bubbly. It also serves as a fresh slate; a time to set new goals and and create a game plan to execute them.
But there’s one aspect of your life you should prioritize before everything else, according to Kevin O’Leary, star of ABC’s “Shark Tank.”
“The No. 1 resolution you should make on New Year’s Eve, and this is No. 1, is to pay down your debt,” says O’Leary. “That is the most important thing you can do for your future.
» Subscribe to CNBC Make It.
“Of course you want health and happiness, and everybody wants everybody to have that,” he adds. “But in terms of taking care of your family and you, paying down your debt is No. 1.”
“If you want to find financial freedom, you need to retire all debt — and yes that includes your mortgage,” the personal finance author and co-host of ABC’s “Shark Tank” previously told CNBC Make It.
To demolish your debt more quickly, O’Leary recommends crafting a plan to speed up principal payments on your debt, whether that be on your mortgage, a student loan debt or credit card debt. If you have mountains of different kinds of debt, O’Leary advises tackling your credit card debt first, because that’s typically the debt with the highest interest rates. (The average card APR is over 17 percent, according to CreditCards.com.)
“New Year’s Eve, you look at your credit card and you say to it, ‘I’m paying off your balance buddy, and I’m going to do that before July,’” O’Leary says. “Make that a New Year’s resolution.
“You will thank Mr. Wonderful for that, believe me. It will make you way better off in the back end of the year.”
So what about O’Leary, who already hates debt and is a self-made multimillionaire? His personal New Year’s resolution is different.
“Here’s my New Year’s resolution,” he tells CNBC Make It. “I want to make more money next year than I made this year.”
About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
Connect with CNBC Make It. Online
Get the latest updates
Find CNBC Make It. on Facebook
Find CNBC Make It. on Twitter
Find CNBC Make It. on Instagram
Find CNBC Make It. on LinkedIn
#KevinOLeary
#NewYearNewMe
#NewYearsResolution
Kevin O’Leary: Making this New Year’s resolution is the best thing you can do for your future | CNBC Make It.
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.