Former Teen Vogue EIC Elaine Welteroth says these two words can help you negotiate more confidently

At just 32 years old, Elaine Welteroth is an award-winning journalist, author, host and judge on Bravo's "Project Runway." She tells CNBC Make It that as someone who feels like she's in her "2.0 era of money management," she has one piece of advice for young people who are looking to negotiate the pay they deserve.