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Stat Of The Day
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$1.8 Billion
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That’s how much menopause costs American women in lost working time annually, according to a recent study from the Mayo Clinic. When medical expenses are added in, the cost climbs to $26.6 billion. It’s not all bad news though–for more on the positive parts of menopause, scroll on.
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10 Tips For Selling Stuff Fast (And For More Cash) Online
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Every year when spring rolls around, we get the itch to clean out…big time. There’s something so satisfying about Marie Kondo’ing, especially when you can turn your clutter into cash.
This week on HerMoney.com, we’re sharing the best tips for selling stuff online fast and for more cash. Start by deciding what you’re selling and know the best place to list your items. For example, if you’re selling furniture, clothing or outdoor items, Facebook Marketplace is the way to go, according to experts. If you’re looking to unload collectibles, head to eBay.
Next, research what similar items are going for, and price yours accordingly. Think about your goal: Would you rather price it on the cheap side to sell fast, or put a higher price on it and see if it sells? Note too, that many selling platforms have fees, so you’ll want to factor those in as well.
For more on what you need to know to sell your stuff quickly and for more $$$, click here.
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This Week In Your Wallet
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Slooooowly. That’s how some people get their tax refund. While most wait just 21 days, for others, it can take years (yes, we said years). "Refunds can be delayed when computers at the Internal Revenue Service flag a return for a variety of reasons," reports The Wall Street Journal. "There might be an error, inconsistency or indication of possible identity theft that requires a human to check it." As of last December (the latest IRS data available) there were nearly 700,000 individual returns awaiting processing. Most were from last tax season and most were due refunds, according to the WSJ. If you’re playing the waiting game with Uncle Sam, there are certain steps you should take beyond calling the IRS and regularly checking their "Where’s My Refund" site. Click here to get the scoop.
Want to have less stress in your life? Start a business. It sounds counterintuitive, but research has shown taking the plunge into entrepreneurship can actually lower stress, improve your physical health and provide you with a more meaningful career. One recent study "concluded that founding a business fosters a greater sense of purpose as entrepreneurs experience more autonomy and competence at work," reports Fortune. And while the financial risks are enough to hold many people back from entrepreneurship, a recent report from JP Morgan shows people who own businesses are wealthier than those who do not.
Can you have more than one remote job? Maybe. But should you? That’s up for debate. Business Insider talked to 6 people making up to $500,000 a year by secretly working multiple remote jobs. Turns out, they don’t feel guilty about it. At all. Take, for example, Joseph, a Gen X network engineer who made $344,000 in 2022 by secretly working three remote jobs. They helped him pay off his mortgage. Or, Justin, an IT engineer who made over $300,000 in 2022 by working three full-time remote jobs. He did it guilt-free, saying he was a top performer in all his roles. "Having the 'same job times three' helps me increase knowledge to be a better worker everywhere," he said. What say you…is it OK to hold multiple remote jobs? We’d love to hear your take!
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Things That Save You Money
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Your internet service provider is getting the nutrition label treatment. The federal government now requires major ISPs to provide more details on monthly costs–everything from the internet speed you should be seeing, to extra fees, like those for renting a modem. For more on what you should be on the lookout for, head here.
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Does BookTok have your to-be-read list growing quicker than usual? Us too. USA TODAY has rounded up the best ways to buy cheap books. One of them is to try a book swap. You can of course do it with a fellow reader, or visit sites like PaperBackSwap or BookMooch.
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ICYMI, college is expensive. Like, up to $95,000 annually in some cases. To help combat skyrocketing costs, some parents are heading to campus…to work, that is. 90% of colleges and universities offer discounted tuition to the children of full-time employees, as CNBC reports, and
an increasing number of parents are taking advantage.
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The Menopause Brain With Dr. Lisa Mosconi
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"I think it’s encouraging that on average, women can experience renewed energy, better mental health, and more happiness after going through menopause."
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By 2030, 1 billion women worldwide will have entered (or will be about to enter) menopause. On average, medical costs for menopausal women ages 45 to 54 are 47% higher than they are for women of the same age who don’t exhibit menopause symptoms.
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Thankfully, the world — and the medical community — is waking up to the realization that menopause and its effects on women need to be studied more closely. One of the doctors leading the charge to do just that is Dr. Lisa Mosconi. She’s the author of a new book, "The Menopause Brain," which argues that this time of change impacts our brains just as much as it impacts our ovaries.
On the HerMoney Podcast*, Mosconi joined host Jean Chatzky to talk about the upsides of menopause (it’s more than just hot flashes and anxiety). "I think it’s encouraging that on average, women can experience renewed energy, better mental health, and more happiness after going through menopause," Mosconi says.
For more on how menopause really affects your brain–and your money–listen in, here.
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| The HerMoney Podcast is made possible by Edelman Financial Engines. |
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Ask Jean
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Today's question comes from Chris. She writes: I’m trying to use my tax refund wisely. What’s a better financial move: Using my return to build up my savings and checking accounts? Or put my return towards my credit card with the lowest balance, which is about $5,000? I have two credit cards and the other has a balance of over $10,000.
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Thanks for your question, Chris. As I’m sure you’re well aware, credit card interest rates have recently hit record highs. According to the Consumer Financial Protection Bureau, the average annual percentage rate (APR) on credit cards (or in other words, the price you’re paying to borrow money) reached a record high of 22.8% in 2023. That’s up from 12.9% in 2013. Ouch.
That said, my advice to you would be to first compare the APRs on your credit cards. Then, use that refund to pay off the card with the highest APR, while continuing to make minimum payments on your other credit card. This is something known as the "avalanche method." It will give you the biggest bang for each buck and help get you out of debt in the cheapest and fastest way possible.
You may also want to look into a balance transfer card, which can be a good option for paying off debt, as long as you know what you’re signing up for. This process involves moving your debt from your regular high-interest-rate credit card onto a card with a much lower rate (or even a rate of 0%) for a certain period of time — typically around a year. Note though, many cards will charge a fee to complete the transfer.
If you go this route, your goal should be to pay off the entire balance by the end of that promotional period. Once the promotion expires, the interest rate will rise and might be even higher than the one on your original card. Then you’ll be charged that higher interest rate on whatever balance remains.
Before you sign up for a balance transfer card, be sure to read the fine print and take a hard, honest look at your current financial situation. Can you commit to paying off your balance during the promotional period? Will a 0% interest rate tempt you to add more to your debt? Compare different offers for balance transfers, and run some calculations on whether the fees and potentially higher interest rate will be worth it.
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Submit your questions to Jean here.
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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.
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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. AM3442999.
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.
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**This is a sponsored post
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