👟 How to Kick FOMO to The Curb

FOMO (fear of missing out) is often just a swipe away. Social media shows us friends dining at pricey restaurants or sporting new designer duds, and it’s not long before we feel the familiar pangs of pressure to keep up, even if it means sacrificing our budgets to do so. New research shows almost 40% of young adults have gone into debt trying to keep up with their friends’ lifestyles. Thankfully, it’s possible to keep your own FOMO in check (and your savings unscathed), so before you swipe your card on a peer-pressure purchase, take a moment to recognize and understand: you’re being influenced. It’s what you do next that makes all the difference.

Speaking of influence, if you’re looking for some savvy financial BFFs to walk you through your budgeting + spending plan, we’d love to welcome you join our 8-week FinanceFixx budgeting course. We have a few spots left for our session beginning March 6th, and we can’t wait to dive in with you and show you just how empowering your money can be!

The Meaning of Perseverance

Oksana Masters is a Paralympic athlete who has won 17 medals in not just one, but four different sports, competing against the best of the best in rowing, cross-country skiing, cycling, and the biathlon. And on this week’s HerMoney Podcast* she joins us to discuss her journey, and the physical and emotional struggles she overcame along the way. She discusses losing her legs, her time spent in an orphanage, and how hardship enabled her to gain control, learn resilience and achieve success. Her most important piece of advice? Understand that hard times don’t last forever. It’s an episode you don’t want to miss.

Free Tax Filing Options for 2023

Every once in a while procrastination pays off. If you aren’t among the more than 19 million or so people who already filed a 2022 tax return by early February – and could use a little help – this story is for you. On select upcoming Saturdays, IRS employees will be working weekends to help us get our taxes ready and filed by the deadline on April 18. The IRS announced Saturday hours for face-to-face help at dozens of Taxpayer Assistance Centers in the U.S. You can check here for a list of the open offices in your area. The weekend availability is planned from 9 a.m. to 4 p.m., on March 11, April 8 and May 13. Need free tax-filing options? We have those, too!

Tackling Taxes While Saving for Retirement

Speaking of taxes, in the latest Your Money Map with The Alliance for Lifetime Income, Jean Chatzky sits down with Michelle Singletary, longtime Washington Post personal finance columnist and author of “What To Do With Your Money When A Crisis Hits,” to lay out five things pretty much everyone needs to know about their money right now. From maximizing your tax refund to rising consumer debt levels to balancing student loan repayments with retirement savings, it’s a conversation you don’t want to miss. You can watch the full interview here.

Goodbye ‘Girl Boss’, Hello CEO

What was life (and work) like for women nearly a decade ago? Influencers on TikTok have been reminding us: 2014 was the year the term ‘girl boss’ made its way into every hashtag, and onto t-shirts and coffee mugs. For a time, this moniker represented success and ambition for those who were working tirelessly to smash the glass ceiling. But fast forward almost a decade, and times have changed. Today, using the term could be considered an insult. Or worse, a slur. We look at all the reasons why, but our favorite explanation comes from investor and Harvard professor Christina Wallace: “It turns out there are a plethora of titles that accurately describe a person’s position and contributions to the world that don’t reduce them to a set of chromosomes or pat them on the head for their plucky ambition. As long as we use unnecessarily gendered language, we are perpetuating the idea that men are the default and women are tourists.” Amen to that. See for yourself why this term should be banished from your vocabulary for good.

5 Signs The Pandemic Economy is Fading Fast

While we may never revert back to our 2019 version of normal, things are finally starting to return to where they were post-Covid. Some signs are easy to spot: friends' Instagram pics of a sunny vacation abroad, the sight of shiny used cars lined up in dealership lots, and commuters clogging up the highways on weekdays. Others are harder to put our finger on, yet so important. For example, our economy is normalizing — and we couldn’t be happier to hear it. Here’s a look at five signs the pandemic economy is finally coming to an end.

It’s time for a second opinion. You’ve been planning for retirement for some time. But right now, things may not be going according to plan. If your retirement timeline is shifting due to market performance, it’s time for a second opinion. Edelman Financial Engines can help answer questions, like when to collect Social Security and how you may be able to turn your savings into the retirement income you need. Get your complimentary wealth check up today where you can discuss your goals with a wealth planner.

Can’t get enough of us? Whether you’re looking for career advice, money management tips, or are simply curious about the intricate world of finance, The HerMoney with Jean Chatzky Podcast* has you covered. New episodes drop every Wednesday, and you can catch up on our past, motivational and glass-ceiling breaking episodes here.

Have a great (and relaxing) week!

The HerMoney team

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*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. AM2211988.

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