👩‍⚖️ Filing For Divorce In The New Year? Here’s How To Prepare

The holiday season is just around the corner. That means shopping for gifts, festive parties, food (pass the Christmas cookies, please) and for many women, divorce. Yes, you read that right, divorce–or planning for it, at least. According to research, January kicks off what some call “divorce season,” a three-month span when 33% of couples file. There are many reasons people wait until the New Year to split — everything from wanting to avoid a divorce during the holidays, to the added tension of the season contributing to arguments, which might tip the scales toward putting an end to things.

Not only can divorce be mentally and emotionally challenging, it also presents financial hurdles. If you’re contemplating divorce in the New Year, experts say the first step you should take is completing an inventory of all your assets, including your investments, retirement accounts, property, savings accounts, emergency funds, and any others. You’ll also want to review any liabilities, such as credit card debt, car loans, mortgages or personal lines of credit.

Lastly, to get a full picture of your financial situation, you should take a hard look at your tax return. “So many times I know one of the spouses just signs off on the tax returns,” says Sylvia N. Guinan, MBA, CDFA, senior private client financial advisor with Wells Fargo Advisors. “Now, you’ll need to take a deeper dive on the tax documents because they will disclose a lot of information as well.” For more on the steps you should take both pre and post-divorce, click here.

Two of HerMoney’s FAQs are:

Q: How do I find a financial advisor? 🔎
A: Much like dating, start meeting with them!

Q: And how should I prepare for my first meeting? 💻
A: HerMoney subscribers (and friends and family!) are entitled to a free meeting with a wealth planner from HerMoney podcast sponsor, Edelman Financial Engines.¹ To help you make the most of this opportunity, join Jean Chatzky and Rose Niang, a Director of Financial Planning at Edelman Financial Engines, for a special presentation. You’ll get tips on preparing for your first meeting, key questions you should ask and guidance on how to get advice you can use to help improve your finances right now. Join us on October 16th at 7pm ET and bring your questions for a live Q&A session at the end. RSVP here for this very special HerMoney Happy Hour. We hope to see you there.

The Best Timing For Hotel Bookings: How To Save On Your Stay

For many, the holidays also mean travel. When it comes to booking hotels, there are all sorts of suggestions for how to save. But what ones actually work? HerMoney tackled this question to help arm you with all the information you need as the holiday travel season prepares to ramp up.

One tip? Avoid booking hotels at the beginning of the week. According to Samantha Brown, travel expert and two-time Emmy-winning host of PBS’ Places to Love, Monday through Wednesday are peak days for booking–and you should avoid them. “That demand falls off towards the end of the week when hotels see that they’re not going to fill their rooms, so they start decreasing the prices by Friday and Saturday, making those days the best time to book a hotel.”

To snag the best rates, flexibility is also key. “If your travel dates can be flexible, most hotel booking engines have calendars that show rates by date,” says Amaury Piedra, Managing Director, Caribe Royale Orlando Resort. “Keep in mind price vs. value and check the hotel’s special offers. Sometimes the best deals are found in value-laden packages."

If you need a little extra help fitting travel into your budget, we’ve got you. Jean Chatzky’s FinanceFixx coaching program can show you how to afford things like travel and still achieve your money goals. Our next session starts November 2nd–join us!

From an early age, Elting loved learning new languages. It led her to a job at a translation company, where she quickly started to notice things could be done better. She eventually decided to create the translation business of her dreams, but the only problem was funding. “I thought, we are not in a position to work on getting funding. We don't have time to create this complicated business plan. We just need to sell,” Liz said. So that’s precisely what she focused on from day one – making 300 phone calls in a day, and working 120-hour weeks until her company was able to move into an office space and hire its first employees.

Today, TransPerfect now has over $1 billion in revenue and offices in more than 100 cities worldwide. Check out the episode to hear how Elting built her business without taking venture capital money and what lessons she learned from eventually selling TransPerfect to her ex-fiance.

5 Proven Steps For Aspiring Female Entrepreneurs

If there’s one thing the HerMoney team can’t get enough of, it’s women supporting other women on their journeys to success. This week, entrepreneur Leanna Gantt shares with HerMoney readers her “5 Proven Steps For Aspiring Female Entrepreneurs.” Gantt is the founder and CEO of tooktake dosage reminder labels, a company that originated from her own battle with breast cancer. With products now available in CVS and Walmart stores nationwide, she's a testament to the journey from small-scale beginnings to national success.

If you have an idea for a unique product, one of the most important things Gantt says you should do is to start small. “You may want to start by selling directly to customers from your own website on a small scale,” she writes. “This approach allows you to fine-tune pricing, messaging, and shipping logistics while gaining valuable customer feedback at the same time. Also, starting small minimizes risks and ensures you're well-prepared for scaling up.” For more of Gantt’s tips, including the most common pitfalls to avoid on your journey to retail success, click here.

The Hidden Power Of Weak Language With Alison Fragale

“Don’t you think this is the best option…”

“Maybe if we went in this direction instead the client would be happier…”

You may have found yourself uttering phrases like these in the workplace. They’re examples of the weak language we’ve been told to stop using if we want to be respected, get a promotion, or have our ideas considered in a room full of men.

We need to be authoritative if we want to get ahead, right? According to new research, that’s not entirely true. In an experiment from the psychology journal Sage, women who followed a script using weak language incorporating phrases like “I don’t know how typical it is for people in this position to negotiate a higher salary” and “I hope you’ll see that what I’m bringing to the table in this role is an asset to the company” were more likely to get a raise. Researchers found that by acknowledging their boss’s authority and avoiding arrogance, women came across as more likable and open to negotiation.

In the latest HerMoney Podcast*, Alison Fragale, an award-winning research psychologist specializing in the power of powerless speech, sits down with Jean Chatzky to share how we can use our words to gain and manage our status. Fragale says for people to gain respect and regard, they need to have certain things believed about them: “One, they’re capable. They’re smart, they’re hardworking, they get things done,” Alison says, “The other piece is that they’re giving, they’re going to use their talents to help other people and not just help themselves.” It’s an episode you don’t want to miss!

Protecting Your Income Requires Cyber Hygiene

According to the Federal Trade Commission, a whopping $8 billion was lost to financial fraud in the United States in 2022. That’s an increase of more than $6 billion since 2019. It’s clear we need to protect ourselves — but how? Kim Komando is an expert in teaching people how to stay safe online, protecting our money from scammers who are going high-tech to make their misdirection more tricky to spot. She sat down with HerMoney CEO, Jean Chatzky, on a recent Your Money Map with the Alliance for Lifetime Income, to share the steps everyone should be taking to avoid being targeted. A few of our favorites are:

Protect your online privacy and practice smarter online banking

Be aware of AI — it can be an incredibly helpful tool, but it’s also giving scammers a leg up.

Keep your tech up to date. Outdated software is sometimes how scammers find their way onto your devices.

For the full breakdown on how to protect yourself from online scammers, check out their conversation here.

More For You To ❤️

Exclusive look: Sit in on a meeting with a wealth planner. 👩‍💼 Join Jean Chatzky and Rose Niang, a Director at Edelman Financial Engines, on 10/16 at 7pm ET. Bring your questions for a live Q&A at the end. RSVP here.**

The business side of sports is so fetch. Looking to stay in the loop on the business side of the sports industry? Enter: The GIST, a women-founded inclusive sports media brand focused on leveling the playing field in sports. Subscribe to The GIST’s Sports Business newsletter to score free, bite-sized and fun stories from the world of sports.

Have a great week!

The HerMoney Team

We maintain a strict editorial policy and a judgment-free zone for our community. We strive to remain transparent in everything we do. Website posts and newsletters may contain advertisements, links and mentions of products from our partners. Learn more about how we make money.

*The HerMoney podcast is proudly sponsored by Edelman Financial Engines. Unlock your wealth potential with our sophisticated wealth planning. Continue your journey at EdelmanFinancialEngines.com. Sponsored by Edelman Financial Engines – Modern wealth planning. All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM3143680.

**This is a sponsored post.

¹Limit one complimentary offer per household, per 18 months. Offer ends December 31, 2023, and is only applicable to households with minimum investable assets of $50,000. Offer criteria may be waived at Edelman Financial Engines' discretion.

HerMoney is not a client, agent, representative or affiliate of EFE. Edelman Financial Engines (“EFE”) is a sponsor of the "HerMoney with Jean Chatzky Podcast,” created by HerMoney Media. Inc. (“HerMoney”) and provides cash compensation to HerMoney Media. HerMoney receives a sponsorship fee from Edelman Financial Engines depending on the number of podcast downloads, as measured by the end of the calendar year. The sponsorship fee is paid on a quarterly basis each year. In turn, HerMoney also provides promotional deliverables regarding EFE on the HerMoney podcast, newsletter, and social media channels. Due to this sponsorship arrangement, HerMoney has an incentive to endorse EFE and its services.

BLACKROCK and iSHARES are trademarks of BlackRock, Inc. or its affiliates (together “BlackRock”). The information provided in this communication is solely for educational purposes and should not be construed as advice or an investment recommendation. Any opinions expressed do not necessarily represent the views of BlackRock. BlackRock is not affiliated with HerMoney.