Women own less, save less, carry more debt, and are less financially literate than men. That changes now.
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We asked you to vote on a question you’d like answered. The winner was:
How can I cut back on expenses without losing my social life?
FEATURED EXPERT:
Brittney Castro
Certified financial planner and founder and CEO of Financially Wise Inc.
Write down all your expenses for the month. Something about writing things out makes it a little bit more real for me. Then, look at what I call add-ons. What do you want to do? Sometimes, you have to sacrifice and realize certain things are not doable every month, but maybe every other month. Or cut back for a few months, and then get back to it. If you really don't want to give up certain items, think about how you can make more money to pay bills, save for goals, and do the things you want to do every month.
This interview has been edited and condensed for clarity. You can read an extended version here.
money win
An inside look at how women are building wealth.
“I was able to max out my 401(k) contributions last year.”
— Stephanie P (MO). Nothing screams financial freedom like a good retirement plan.
Scored a raise, saved up for a big purchase, or reached another money goal? Tell us about it here. Quotes are edited and condensed for clarity.
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For your consideration: Newly approved bitcoin ETFs.
According to one estimate, fewer than 5% of software engineers identify as Black…
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thing to know
The terms, acronyms, and stats you didn’t learn in school.
What do student loan borrowers need to know about President Biden’s most recent action on debt relief?
Natalie Quillian, Assistant to the President and White House Deputy Chief of Staff: Last year, President Biden launched his administration’s SAVE plan, a new student loan repayment plan that is the most affordable repayment plan in history. And today, the president announced that borrowers enrolled in SAVE who took out less than $12,000 in loans and have been paying for 10 years will get their remaining student debt canceled automatically starting next month. This action will help borrowers who went to community college, low-income borrowers, and those who are having trouble paying back their loans in particular.*
theSkimm: This new action continues to build on the Biden administration’s push for student loan relief. Going into the 2024 election, some voters are frustrated the administration hasn’t been able to fully cancel student loan debt. And in November of last year, a Republican-led effort attempted to strike down the SAVE plan, with some lawmakers stating it was fiscally irresponsible and unfair to Americans who didn’t choose to attend college.
*Quote has been edited and condensed for length and clarity.
investment piece
The items celebs and influencers think are worth the big bucks.
A three-time Guinness World Record Holder in ice, winter, and ultramarathon swimming who has set records on all seven continents, Jaimie Monahan is no stranger to navigating choppy waters. She’s successfully completed nonstop solo, ultramarathon distance swims up to 114 miles and over 45 hours. An inductee of the International Marathon Swimming Hall of Fame and the Ice Swimming Hall of Fame, Monahan shares the purchase that helps her navigate any ocean.
Tell us about an investment purchase you made.
As an extreme ultramarathon and ice swimmer, my passion is pioneering swims in the world’s most beautiful, extreme, and iconic locations. Proper safety support is paramount, and I've found that Oru Kayak makes the most portable, durable, and elegantly designed kayaks on the market. The Bay ST was a perfect investment to accompany my adventures around the world.
How much did the item cost?
$1,410.63. [Editor's note: Oru Kayak sells certified refurbished kayaks at reduced prices.]
Why do you consider it a good investment?
The Oru Kayak is an amazing design: Aesthetically beautiful, durable, light, and compact at just 26 pounds. It's suitable for choppy waters but can be assembled in less than 10 minutes. It’s also easily checked as luggage, stored under a bed, or transported in a regular car. It can even be carried as a backpack while hiking.
Answers are edited and condensed for clarity.
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