Women own less, save less, carry more debt, and are less financially literate than men. That changes now.
ask an expert
Get answers straight from the career and finance pros.
We asked you to vote on a question you’d like answered. The winner was:
What’s the #1 financial habit that will help me build wealth?
FEATURED EXPERT:
Vivian Tu
Your Rich BFF and author of “Rich AF: The Winning Money Mindset That Will Change Your Life”
Investing early is the single most important thing you can do to build wealth. No matter how little, investments are a time game. Multiple studies show that if two people invest the same amount, the person who started earlier will end up with significantly more than the person who started later. The best day to start investing was yesterday, but the second-best day is today. With things like fractional shares and robo-advisors, investing has gotten a lot easier, and who wouldn’t want to start building their wealth earlier?
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.
“At my first review after returning to work from maternity leave, I was offered a raise that was lower than I was expecting given my experience and time with the company. Instead of following my first instinct, which was to be grateful I received a raise, I did my research. With my negotiations, I successfully doubled the raise they were offering me and we've mapped out a path to a promotion for next year!”
— Emily B (CT). Looking to land a promotion in 2024, too? Start here.
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.
for the group chat
The money stories everyone’s talking about.
It might be too late to order Christmas gifts…
But there’s still time to lower your 2023 tax bill.
“Just how rich were the McCallisters in ‘Home Alone’?”
The New York Times investigates.
TikTok has a theory about why many Americans don’t feel great about their finances…
But are we really in a “silent depression?”
Thinking about an international summer vacay?
Consider booking your flights ASAP.
investment piece
The items celebs and influencers think are worth the big bucks.
Country musician Brooke Eden is known for her emotive songs, powerful vocals, and advocacy for self-acceptance. Her EP “Outlaw Love,” released earlier this year, chronicles her relationship with her now-wife. Here, she talks about why memories are always worth investing in and how she’s planning to do just that this holiday season.
Tell us about an investment purchase you made.
I have to say, I’m not big on spending money on high-end brands or high-ticket physical items, but when it comes to experiences, I’m a sucker for trips. My wife and I are heading to Tulum for New Year’s Eve this year with 10 of our best friends, and we’re getting flights to and from Cancún, Mexico.
How much did it cost?
$300 for my round-trip flight.
Why do you consider it a good investment?
Memories will get me to spend my money any day because the bonds you make on trips will last forever.
Answers are edited and condensed for clarity.
Forward this to a friend. Click here.
Subscribe to Skimm Money
Your source for the biggest financial headlines and trends, and how they affect your wallet.