💣 Are your finances under attack…by you?

Stat Of The Day

$11.6 Billion

Make no bones about it, Americans are spending big celebrating Halloween. When it’s all said and done, the National Retail Federation estimates we’ll shell out an estimated $11.6 billion on everything from candy to decor (including those ginormous skeletons, which we love, btw).

3 Ways You’re Financially Self-Sabotaging

"What researchers have found in studying women who leave work to fill a caregiving role, is that rather than their life satisfaction increasing in retirement, it decreases."

When you think of "financial self-sabotage" your mind may go to impulse spending on clothes, taking on too much credit card debt, or even keeping too much money in cash because it feels "safe."

Sarah Newcomb takes it one step further and says that even when we do something innocuous (like saving for a child’s college education over our own retirement) it’s a form of self-sabotage. On the HerMoney Podcast*, she shares the top 3 ways you may be financially self-sabotaging without realizing it.

One of the biggest is prioritizing caregiving over their own financial needs, which can also have a negative impact on mental health later in life. "What researchers have found in studying women who leave work to fill a caregiving role, is that rather than their life satisfaction increasing in retirement, it decreases," Newcomb says.

The solution? If you can, consider staying in the workforce longer, and hiring paid caregivers if they are a viable option given your life and financial situation. This can allow you to meet your loved ones’ needs without negatively impacting your ability to save for retirement, or bank more working years to be counted towards Social Security.

Listen Now

The HerMoney Podcast is made possible by Edelman Financial Engines.

How To Shop For (And Save On) Health Insurance During Open Enrollment

Open enrollment 2025 is underway. If purchasing new health insurance is on your to-do list, we’re covering everything you need to know to get the best coverage possible – and avoid costly mistakes.

As HerMoney’s Kathryn Tuggle reports, there are key things health insurance shoppers need to consider during open enrollment. "Three universal considerations should be the provider network you have access to, the prescription medication you’re currently taking, and if you’re anticipating any life changes next year — like having a baby," she writes.

"Before choosing a plan, check to be sure that the doctors you want and the hospital you’re most likely to go to in an emergency are in-network with your plan. Do the same with medications you’ll need for any chronic conditions."

For more, click here.

Unlocking Affordable Care: Why Your Health Insurance May Not Be Enough

You may have health insurance through your employer, but high copays and deductibles can leave you wondering why you still can’t afford to see a doctor. Many plans require substantial out-of-pocket costs before coverage kicks in, making essential care feel out of reach.

So, what is health insurance good for? Ideally, it should provide peace of mind and access to necessary medical services without breaking the bank. Unfortunately, many traditional plans fall short, forcing patients to choose between financial stability and their health.

This is where innovative options like Curative come into play. With $0 copays and $0 deductibles for in-network care, Curative redefines what health insurance can do for you. By completing a preventative exam within the first 120 days, you can continue to enjoy comprehensive coverage without the worry of unexpected costs. Learn more about Curative here.

If you’re tired of feeling burdened by healthcare expenses, it’s time to advocate for better options. Talk to your employer today about making the switch to Curative. Don’t know what to say? Curative has you covered with talking points. Ask for change for your health—and your wallet—today.

This Week In Your Wallet

Fire up HGTV for some inspo and grab your hammer. America is primed for a "home-renovation resurgence." "Analysts and building-products executives are forecasting lower interest rates will fuel a rebound next year in spending on new kitchens, bathrooms and decks, reviving a reliable source of economic activity and stock-market gains," reports The Wall Street Journal. A new report from Harvard University’s Joint Center for Housing Studies shows home renovation spending is expected to reach an annual rate of $477 billion by this time next year. That’s close to the $487 billion record set last year, before the impact of high rates put projects on ice. PS – if you’re ready to channel your inner Chip and Joanna, check out this list of budget-friendly renovations for new homeowners.

Many families are finding themselves in their ultra-high car insurance bill era. "There are plenty of families with three or four children whose annual premiums will top $20,000 this year," reports Ron Lieber for The New York Times. "That can be enough to replace one of the cars that the policy covers." So what’s a family to do? As Lieber writes, there are a handful of ways to save, including inquiring about discounts for good grades (yes, it’s a thing!), enrolling your children in defensive driving courses and a little-known benefit for college students. "For children who are in college far from home and don’t have a car on campus, ask if companies offer any "away at school" discounts. They may not suggest this on their own, so it’s on you to bring it up."

Things That Save You Money

●

Chipotle’s "Boo-rito" promotion is back. Chipotle Rewards members who dress in costume can snag $6 entrees from 3 PM to close on Halloween. Does a witch hat count? We think so.

●

Breakfast for dinner, anyone? IHOP is giving away free "Scary Face" pancakes to kiddos with the purchase of an adult entree.

●

Here’s a frightful Frosty deal from Wendy’s. For $1, you can get a "Boo! Book" that includes coupons for five junior Frostys.

●

No tricks, just a treat. At Red Robin, kids in costume will get a free sundae with the purchase of a kids’ meal.

●

Make dinner on Halloween? Ain’t nobody got time for that. Moe Rewards Members can get BOGO entrees all day on Halloween. No costume required. We see you, Moe’s.

Ask Jean

Today’s question comes from Addy. She writes: How much money should I keep in my checking account? I have a high-yield checking account and I keep…well, a lot of money in there…roughly 20x our monthly expenses. I’m wondering if I should put it somewhere else but the stock market scares me so much.

You aren’t alone, Addy. For many women, investing is a scary topic. Even though we’ve made great strides in recent years, new data from Fidelity shows "women are nearly two times more likely than men to describe their level of investing knowledge as "non-existent." In other words, we’ve got a way to go.

Now, on to your situation. The general rule of thumb is to keep enough to cover one to two months’ expenses in your checking account. In your case, with 20x your monthly expenses stashed away, you’re missing out on opportunities to make your money work harder for you. Here are a few alternatives to look into:

●

A high-yield savings account, which typically will have higher rates of interest than your high-yield checking account.

●

A certificate of deposit, commonly known as a "CD." CDs have fixed returns, and terms as short as a few months if you think you’ll need access to the cash sooner rather than later.

●

Treasury bills or bonds are two other options that are low risk and currently offer some pretty solid returns.

If you’d like to dip your toe in the investing waters, InvestingFixx, HerMoney’s investing club for women is a great place to start. We meet every other Monday to dig into what’s happening in the markets and answer your questions. No experience is required and your first month is free!

Submit your questions to Jean here.

More For You To ♥

💙 This open enrollment season, treat health insurance as part of your financial planning. Are you overpaying for the care you need? If you’re paying for copays or have a deductible for in-network care, then the answer to that question is likely yes. Curative can help. Ask your employer to look into Curative today.**

😲 $7,500. That’s how much Amy is on track to save thanks to FinanceFixx, HerMoney’s no-nonsense, four-week financial coaching program. "This was most definitely the kick in the pants I needed," says Amy, who worked one-on-one with a coach to change things up and make her money work harder for her. It’s not too late to join the current session—or sign up for a future one here. Use code SAVENOW for 15% off.

🏃 Find a fellow goal-getter. Lean into habit loops. Try habit stacking. These are just a few of the strategies HerMoney CEO Jean Chatzky used for her marathon training. She explains these tactics here. Please send her good vibes as she runs the NYC Marathon with Team Citizens this Sunday. Good luck Jean!

P.S. If you’re based in NYC, join Jean at the marathon expo tomorrow, November 1, at 11AM, for a free panel conversation and Q&A on serial goal-getting. See the full schedule here.

SHARE WITH A FRIEND

Advertise With Us

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. AM3807168.

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.

**This is a sponsored post

¹ Limit one complimentary offer per household, per 18 months. Offer ends November 5, 2024, and is only applicable to households with a minimum investable assets of $250,000. Offer criteria may be waived at Edelman Financial Engines’ discretion.