This Week’s Challenge: Who’s Your Role Model?
It’s not always an easy question to answer, and I’ve got an even tougher one for you — who’s your financial role model? Nearly half of all women — 45% — simply don’t have one, according to a recent study by Merrill Lynch, even though we could benefit tremendously from connecting with someone who’s been in our shoes. This week, have a think about someone in your life who you might look to for inspiration, practical money advice, or guidance — and invite them out for coffee. Then write to us and tell us how it went. We may feature you and your role model in an upcoming story.
What Are You Doing Thursday night?
If you’re in New York City and you’re not already booked this Thursday evening, I’d love for you to join me for a special event at the Rebecca Taylor store downtown where I’ll be discussing the Five Secrets to Financial Success. You can sign up here on Eventbrite, and the first 75 people through the door will get a free copy of my new book, Women With Money, which debuts next week. Space is limited, so sign up if you plan to make it, and if you can’t, you can still snag a book (plus $199 worth of freebies!) by pre-ordering at WomenWithMoneyBook.com. I hope to see you there — wherever “there” is for you!
If we learned anything in the last week, it’s that there’s a right way and a wrong way to get your kid into college. But just because you aren’t out there bribing coaches doesn’t mean you aren’t making a few mistakes of your own. If you fail to have the “other” talk with your child— the talk about student loans, and the impact that borrowing could have on their future — you could be doing them a huge disservice. Today, Millennials spend nearly one-fifth of their annual salaries on debt repayments, according to a Citizens Bank survey, and nearly six in 10 borrowers regret taking out as much in loans as they did. Thankfully, the student debt conversation is not one you have to have on your own if you aren’t comfortable. Financial aid officers at your local college can explain the borrowing and repayment process to you (or to you and your child) so that everyone understands exactly what they’re getting into. But don’t take my word for it — hear it straight from a university admissions counselor, on HerMoney podcast episode #126. Founder and CEO of IvyWise, Dr. Kat Cohen, talks about reigning in the cost of college, and even the cost of applying itself.
If you thought booking flights for a last-minute getaway would also eliminate any souvenir money you’d set aside, think again. In its Spring Break 2019 Index, travel app Hopper uncovered that booking a flight two weeks ahead of departure shouldn’t come with an additional cost — but anything under two weeks will cost you an extra 10%. (In other words, you can be spontaneous, just not completely fly-by-the-seat-of-your-pants.) Hopper also determined that the best days for domestic travel departures are Tuesdays and Wednesdays, when you can save 19%, and 17%, respectively. If you’re serious about booking your getaway or if you’re considering an international destination, here’s a look at a complete rundown of money-saving travel tips from Refinery29’s Olivia Harrison.
Modern Day Yard Sale
How many of you ever had a yard sale, a stoop sale, or met up with a random stranger on Craigslist in order to profit off your unwanted goods? Maybe you loved it, but if you’re anything like us, you were probably wishing there was a better way. Thankfully, the game has completely changed in recent years with regard to where and how you can make money — online sales platforms have made it easier than ever to make a profit without ever leaving your home. And if Marie Kondo has inspired you to clean out your closet, you may find yourself wanting to offload some crapola, ASAP. Check out the five best online sales platforms for 2019, and start making some extra cash this spring.
Have a great week,