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| Stat Of The Day |
| $150 Billion |
The devastating LA wildfires will go on record as one of the costliest natural disasters in U.S. history, with estimates of damages and economic losses totaling up to $150 billion, so far.
If you’re looking for a way to help, The Cut has put together a list of organizations that are supporting victims and first responders. Our hearts are with you, LA. |
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| What The 2025 Economy Could Mean For You |
A week from now, there will officially be a new President in the White House. Wondering what could be changing economy-wise? We’ve got you.
On the latest HerMoney Podcast, Kathryn Anne Edwards, a labor economist, independent policy consultant and Bloomberg columnist, joined host Jean Chatzky to tackle your biggest questions about how the economy could change in 2025.
For example, stocks and crypto have soared since the election. The trend will surely continue, right? Edwards says don’t put too much stock (pun intended) into it. "You should never find your financial life dependent on what happens in the stock market over the next six months," she notes. "The general philosophy is the sooner I need my money, the more liquid it should be…I have money in the stock market, but I think of it as being a 20-year investment in the future or a 10-year investment in the future and not right now."
As for crypto, it’s TBD what 2025 will hold for digital currency. However, as CNBC reports, President-elect Trump is expected to forge ahead with an "aggressive pro-crypto legislative agenda" early in his term. |
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| This Week In Your Wallet |
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How does your garden grow? Are you pondering living off the land more since the election? You aren’t alone. As President-elect Trump readies for his return to the White House, more Americans are taking up gardening to offset higher food prices that could result from proposed economic policies. "If new tariffs further drive up the already high cost of produce, we’d anticipate more interest in our community gardens," Amy Klien, CEO of Capital Roots, a nonprofit organization that runs 55 community gardens around Albany, New York, tells CNN. "People are increasingly looking for practical, cost-effective ways to manage their grocery bills, and our gardening program provides a way for families to save thousands in a single growing season." (No land of your own? Google: "Find community gardens near me" to get started.)
If you’re a public worker, higher Social Security benefits could be in your future. The newly signed "Social Security Fairness Act," eliminates two provisions that limited Social Security benefits for public employees with other pensions. "That means workers who previously received reduced payments, including those who served as teachers, firefighters and police officers, among other public-sector occupations, will soon receive benefits in the full amount," as NPR reports. In total, 2.8 million beneficiaries will see a bump, with the average person impacted receiving an additional $360 per month.
If you’re behind on making a New Year’s resolution, it’s not too late. HerMoney has rounded up 8 finance-focused changes that can actually improve your life in 2025. One of them? Start a "spending fast." Here’s how it works – set a period of time, a week, a month, or even six months, where you spend no money beyond your basic necessities and fixed expenses, such as groceries, housing and utilities. "It’s a way to stop the cycle of impulse consumerism and become more aware of your priorities," Alina Fisch, founder of Contessa Capital Advisors tells HerMoney. |
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| Things That Save You Time |
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| Ask Jean |
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| Q: |
Today’s question comes from Jamie. She writes: I’m looking for recommendations for resume support for my husband, who will be job searching for the first time in 20 years. In particular, he needs help telling his story in a few different ways. Any tips? |
| A: |
Thanks for your question, Jamie. Job-hunting, and to get more specific, resume writing, is a whole different ballgame than it was 20 years ago.
Remember the chronological resume? It’s the one where you’d list the last few jobs you’ve had and the tasks you were responsible for at each. The chronological resume is now a thing of the past. In its place is what’s called a "functional resume."
What is that, exactly? "A functional resume leads with your skills and not with your experience," Erin McGoff, the go-to internet bestie for all things career growth, recently explained on the HerMoney Podcast. "First, list the hard skill things you can do (graphic design or customer service, for example). Then, talk about how you can do them and what you’ve done in the past. And then finally, list out the companies that you’ve worked for and your education and skills."
As McGoff stresses, a functional resume is a better option for telling your (or in this case, your husband’s) career story, if he’s had jobs in different fields or gaps in employment.
In addition to revamping his resume, your husband will also want to set up (or update) his LinkedIn profile. Check out tips for making it stand out, here. |
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