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Stat Of The Day
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$1.5 Billion
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That’s how much starry-eyed tourists are expected to pump into communities in the April 8th eclipse’s "path of totality." Millions are set to travel for the cosmic event, with the Federal Aviation Administration saying the
days leading up to the eclipse will be some of the busiest of the season for flying. If you’re staying put but still want to get in on the fun, scroll on for some out-of-this-world eclipse day deals.
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Should You Pay Your Parents When They Babysit?
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Grandparents often help with kids — and they’re happy to do so. But should they be paid for their work and time spent with your little ones? As childcare costs increase, leaning on grandparents for help has become more common…and so has the question of whether or not to pay them.
Before you make grandparents part of your family’s childcare plan, the first step is sitting down to hash out what your needs are and of course, finding out what your parents are able–and willing–to take on. Are you thinking of tapping them for date nights, or on-call situations (like when your kiddo is a little too sniffly for daycare)? Or, will they play a bigger role in the day-to-day care of your children?
Experts we talked to say if it’s a "here and there" babysitting situation, there are ways (other than money) to show your gratitude. For example, a gift certificate for a dinner out or a nice bottle of wine could do the trick. On the other hand, if they are providing regular care so you can work, paying them might be necessary, depending on the situation. "For example, if you know your mom is subsisting on Social Security, and she provides regular weekly childcare for you, it may be appropriate to insist," writes Joanna Nesbit for HerMoney.
For more on what you should consider when it comes to paying grandparents for childcare, click here.
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This Week In Your Wallet
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What profession can pay six figures and doesn’t require a college degree? That would be welding, one of the skilled trades that an increasing number of Gen Z’ers are pursuing. As higher tuition rates have caused enrollment at colleges across the country to dip, the number of students attending vocational training programs has surged 16%, reports The Wall Street Journal. 20-year-old Tanner Burgess is one of those students. He graduated from a 9-month welding program last fall and expects to make six figures within five years. "I’ll be honest, it took me a little bit mentally to get on board," says Burgess’s
mother, Lisa Hopkins, who at first, was hesitant about her son’s career path. "He’s already thinking, ‘I want to buy my first house by the time I’m 24. I don’t have any debt, I’m off to the races.’"
The growth of home prices has slowed back to pre-pandemic levels…but what does that mean for buyers and sellers? U.S. home prices increased 0.6% in February, a percentage similar to the average monthly growth in the eight years leading up to the pandemic, reports CNBC. Despite this, experts say the average home is still out of reach for most potential buyers, due to unaffordability and a lack of available inventory. "The sentiment we’re getting from our agents is that neither sellers nor buyers are satisfied with this market," says Daryl Fairweather, Chief Economist at
Redfin. "Sellers are dissatisfied ... with offers that they’re getting. And buyers are disappointed in rising prices and rising mortgage rates." The bright spot in the housing market? New builds. "New-home sales are running at the high end of the range seen pre-pandemic, averaging about 600,000 per month," adds Fairweather.
Does being too frugal have a cost? Some say yes, and the price we pay is friendships. That was the case with a Brooklyn couple who got fed up when their friend, Steven, would send Venmo requests along with invitations to dinner parties. "The last straw was when Steven invited the couple to a dinner party at his house," writes Camille Beredjick for Bustle. "Along with the requisite Venmo requests, he asked his 10 or so guests not to bring any additional food." When partygoers arrived, they found a tray of lasagna, "a small thing of tiramisu and some liquor." In other words, the meal cost him
nowhere near the amount his guests forked over. If you’ve let a friendship fizzle over finances, you aren’t alone. A recent Bank of America survey showed that 53% of people have ended a friendship over money.
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Things That Are Costing You Money: The Eclipse Edition
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Cue Bonnie Tyler. Here are some of the best deals to save you $$$ ahead of April 8th’s solar eclipse.
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Astronauts are impressive–but can they make good snacks? Find out by snagging a bag of Sun Chips in limited edition flavors developed with the help of astronaut Kellie Gerardi. You can try them for free by logging on here at 1:33 p.m. CT on April 8th. Be quick though, you’ll have just 4 minutes and 27 seconds (the duration of totality) to try and get a bag.
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Grab a gal pal and celebrate the eclipse with a BOGO burger deal. Sign up for Burger King’s Royal Perks loyalty program and text "ECLIPSE" to 251251. You’ll get a buy-one-get-one-free Whopper offer available for redeeming from April 8-15th.
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The female-co-founded nutrition bar brand Perfect Snacks is going dark in honor of the eclipse with its new flavor, Chocolate Brownie. If you live in the path of totality and sign up for text alerts, you’ll get 50% off your Chocolate Brownie Perfect Bar order.
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Safety first! View the eclipse and keep your eyes free from damage with free glasses from Warby Parker. They’re available in-store, while supplies last.
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Why Every Conversation Is a Negotiation With Charles Duhigg
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As Duhigg tells host Jean Chatzky on the HerMoney Podcast*, he took a deep dive into the world of conversations after growing frustrated with how he and his spouse were communicating. One of the big questions he had? Why did they–and so many other people–find it difficult to understand each other sometimes? "We tend to think of a discussion as being about one thing, and we’re usually wrong," Duhigg says.
Duhigg found the key to better understanding each other is figuring out exactly what kind of conversation we’re having: practical, emotional, or social. "In practical conversations, we’re solving problems or we’re making plans together," Duhigg says. "In emotional conversations, I want you to empathize. And finally, social conversations are about how we relate to each other and social identities that are important to us."
But what about when it comes to conversations where the lines between practical and emotional are blurred, like money, for example? Listen in for Duhigg’s advice on how to become a supercommunicator, no matter the topic.
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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 Michelle. She writes: I met with an attorney to discuss the drawing up of a prenuptial agreement. My attorney said he has never incorporated an infidelity clause in any prenup he has drafted. What is the purpose–and what are the benefits–of an infidelity clause?
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In today’s world, prenups are no longer stuffy or offensive. Instead, they’re widely recognized as practical, forward-thinking financial management tools…and kudos to you, Michelle, for recognizing that.
Your basic prenup will establish each spouse’s property rights and expectations in the event you go your separate ways. Sometimes, prenups contain provisions beyond clarifying what’s yours and mine. These are known as "lifestyle clauses." The "infidelity clause" you mentioned falls in that category.
With an infidelity clause, if your spouse cheats, they can be ordered to pay a financial penalty if you divorce (one of the benefits to you if your spouse strays). Beyond that, infidelity clauses can be helpful in setting expectations for your relationship. "With an infidelity clause, not only does the person requesting the clause make their feelings clear about possible infidelity, the proposal of this clause alone can force couples to communicate about what they want out of their relationship, how they will treat each other and how they will communicate their feelings. This exercise can be beneficial, no matter whether the clause is ever actually used," Philadelphia divorce attorney Jennifer Brandt recently told HerMoney.
When it comes to infidelity clauses, there are a couple of caveats to be aware of. For starters, they aren’t enforceable in every state. One of the other issues experts raise is that it can be hard to define or prove infidelity. But, on the flip side, if you do have proof, experts say an infidelity clause can sometimes be effective simply because a cheating partner may not want the details aired in a public courtroom and therefore, they won’t challenge it.
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Submit your questions to Jean here.
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Get Your Free Retirement Review
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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.
¹Limit one complimentary offer per household, per 18 months. Offer ends April 12, 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.
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