🏖️ Want to save on hotel stays? BE CALM

Stat Of The Day

75%

The hottest place to shop for high earners? Walmart. The company’s profits grew 8.2% last quarter. Households bringing home more than $100,000 per year were to thank for 75% of Walmart’s gains, as CNN reports. (PS: We talked about this in the most recent meeting of our women’s investing club — and whether Target, which has clearly no longer tar-jay — is a better buy simply because it’s so relatively cheap.)

📣 For a limited time, when you sign up for HerMoney’s investing club, you’ll get your first month FREE—and 20% off your annual subscription when you use the code LEVELUP.

To Save On Hotel Stays, "BE CALM"

Planning a holiday getaway? There are all sorts of theories about how to get the best deals on hotel bookings. Possibly the biggest belief is that timing is the most important factor of all.

But does timing really matter? And what are the best hacks for securing the cheapest possible hotel reservation, every time? Over on HerMoney.com, we’re sharing all of the best advice for booking hotel stays and not breaking your budget.

One of our faves? BE CALM, which stands for "Book Early Check Again Last Minute." "When you book early, make sure to triple-check the cancellation policy so the date doesn’t come and go," says Colleen Carswell, a former hotel director of sales turned hotel solutions strategist. "Cancellation policies vary widely by hotel, brand, and location. Then, prior to the cancellation date, check again to see if you can find lower rates online."

If you find a lower rate, it’s game on. "You can cancel your original reservation and save money with the new one," Carswell says. "If you don’t find a lower rate, also great! You scored the best deal possible thanks to your savvy decision to BE CALM."

Set Your Finances Up For Success in 2025

When you control your money, you control your life. Trouble is — most people don’t.

Think of it this way: Every dollar you earn has a purpose. Whether that dollar is for daily expenses, like groceries or gas, or short- and long-term goals, like paying off credit card debt or saving for your dream retirement, it plays an essential role in how you live your life today and how you want to live your life in the future. That’s why not knowing where your money is going is an opportunity cost.

Enter: FinanceFixx. This virtual budgeting and financial coaching program is inspired by Jean Chatzky's Money Makeover methodology that's been featured on Oprah, The Today Show, and, most recently, PBS Opportunity Knocks.

Who is it for, exactly? Anyone who is looking to create a budget, refresh an existing budget or find additional savings for a financial goal, like retirement. January's classes are filling up and we're offering some of our biggest discounts of the year:

💰 Use code HOLIDAY for $100 off our eight-week program for pre-retirees here.

💰 Use code NEWBUDGET for 20% off our four-week program for all ages and stages here.

Questions? Just reply to this email and someone from the Fixx team will be in touch.

This Week In Your Wallet

Has (almost) winter’s dark and cold got ya down? Kari Leibowitz is a Stanford-trained wellness expert who spent a year in Tromsø, Norway, where the sun doesn’t rise for two full months (!). Brr. She says there are three keys to thriving and still being productive when winter weather makes you want to stay in bed and binge Netflix all day. One of them? Find ways to make this time of year "special." "Play into the darkness winter brings by turning off the main lighting in your house and using twinkly lights, small lamps, and candles to create a cozy atmosphere," recommends Leibowitz. "Plan special dates like Sunday dinners and have comfort foods on hand."

Oh no you DON’T, late in life divorce. Splitting from your partner at an older age (AKA, "gray divorce") can have a host of negative side effects. Ruining your retirement nest egg doesn’t have to be one of them. "The key is coming to terms, both practically and emotionally, with the fact that your retirement is going to look different than what you thought it would be, and being willing to adjust accordingly," Chris Chen, a certified divorce financial analyst tells The New York Times. One mistake to avoid? Tying up your liquidity by hanging onto your home."I ask clients, ‘If the house will eat up 70 percent of your income, are you willing to sacrifice 70 percent of everything else in your budget to keep it?’" says Lili Vasileff, a certified divorce financial analyst.

Struggling to check names off your holiday shopping list? Cash is king. In recent years, surveys have shown what most people want for Christmas is cold, hard cash (or plastic – gift cards also rank high on lists of most-wanted gifts). As Allie Volpe writes for Vox, the feeling that we NEED to give thoughtful presents has led us to waste a whole lotta money on unwanted gifts. If you’re going to give the gift of green this year, there are ways to do it tactfully. "The key is to make it thoughtful," explains Lizzie Post, etiquette expert and co-president at the Emily Post Institute. "Definitely include a card and write a short note about how you hope they spend the dough."

Things That Save You Time

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"Stock up on neutral gifts to be used as hostess gifts or gifts for coworkers, etc.," says HerMoney reader Morgan. "Candles and high-end olive oils are two of my favorite items to have on hand."

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See ya, sticky sap. The Wall Street Journal has rounded up the best artificial Christmas trees to save you time, money and mess.

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Does the thought of wrapping gifts have you feeling Scrooge-y? Check out these drawstring bags that "wrap" your gifts without scissors, tape or tissue paper. Added savings: You can reuse them for years.

Ask Jean

Today’s question comes from Elizabeth. She writes: "What is a "CD ladder?"

Thanks for your question, Elizabeth. A CD ladder is an investment strategy. Here’s how it works – you take a sum of money and then, divide it into multiple certificates of deposit (CDs), which have staggered maturity dates.

For example, say you have $10,000 to invest. Instead of putting the whole amount into one 5-year CD, you might break it down into five CDs that have maturities of 1, 2, 3, 4 and 5 years. When each CD reaches maturity, you can invest it into a new, 5-year CD to keep the ladder going or use the funds for another purpose.

Fans of CD ladders like the strategy for a number of reasons, one of them being that you’ll have pretty easy access to your funds as the CDs mature on a rolling basis. They also allow you to grab rising interest rates over time, if we’re in a period where they’re headed up. Or, hold onto them longer if they’re going in the other direction. If you’re a conservative investor or new to investing altogether, CDs can be a good option as they are low-risk and typically, FDIC insured. HerMoney recently highlighted all you need to know about CDs here.

Submit your questions to Jean here.

Something special for you — and everything you hold special

Before the year ends, do something special for yourself and your future. Get your complimentary Retirement Review and financial plan with Edelman Financial Engines. You’ll receive:

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A customized roadmap for your optimal retirement, with personalized investment recommendations

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A one-on-one conversation with a professional planner

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An estimated retirement income summary, including Social Security benefits

This free offer¹ ends on December 13. Sign up for your review here.

More For You To ♥

🛒 A minimalist’s guide to holiday shopping. Want to buy gifts that won’t end up collecting dust in the back of a closet? Listen to the latest HerMoney Podcast*, featuring Shira Gill, an expert on minimalism and intentional shopping. The HerMoney Podcast is made possible by Edelman Financial Engines.

🏈 Do you have a game plan for your financial life? 10-year-NFL veteran Brandon Copeland went from tackling opponents on the football field to tackling the complex, often misunderstood world of personal finance. How, and why, did he do it? He breaks it down with Jean Chatzky on "Your Money Map," sponsored by the Alliance for Lifetime Income.**

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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. AM4002839.

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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¹ Limit one complimentary offer per household, per 18 months. Offer ends December 13, 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.