👑 The keys to staying “golden” as you age

Stat Of The Day

48%

Taking holiday shopping to the max? 48% of credit cardholders are. A recent survey shows that’s the percentage of swipe-happy shoppers who will max out at least one credit card by the end of the holiday season. Sound like you? Put the plastic down…we can help!

The Keys To Staying "Golden" As You Age

Are you one of the millions who tuned in to watch the first season of "The Golden Bachelor?" If so, there’s no doubt you remember Susan Noles and Kathy Swarts, two contestants who while vying for the Golden Bachelor’s heart, formed an unbreakable bond.

While neither walked away with the final rose, the duo says they came away with the best prize of all – a friendship that together, allows them to inspire others to live their best lives, no matter one’s age. "For both of us, I think the biggest thing is that we have been able to positively affect others' lives and give people our age, in our generation, hope for their future," Swarts told Jean Chatzky on "Your Money Map," sponsored by the Alliance for Lifetime Income.

Their massive following on social media and their Golden Hour podcast have given Swarts and Noles a platform to share their favorite lessons on everything from finance to friendship.

One of the big ones? Not waiting to take control of your finances. "I've learned many – not all, but many – women are not as educated about finances and planning and investing," says Swarts. "I've talked to so many of my friends and said, ‘You need to learn this now. If you don't, you are going to be a deer in headlights. Because typically, men die before women.’"

This Week In Your Wallet

Want to get more mileage out of your PTO in 2025? There’s a cheat sheet for that – and it can help you turn 16 days of PTO into 55 days of vacation. "Adding a day of PTO to the three-day weekends can extend them into longer getaways, like taking the Thursday before or Monday after the Fourth of July weekend," writes Kathleen Wong for USA Today. "Additionally, since Juneteenth, Thanksgiving and Christmas land on a Thursday, you could turn these holidays into that major vacation you've been wanting to take. Taking three days of PTO off around Thanksgiving can become a nine-day trip." BRB, putting in our time off request.

Not to dampen your holiday spirit, but according to experts, January is the most popular month for divorces. If a split is on the horizon, HerMoney.com is covering all the steps you need to take, starting with establishing a legal separation or actually filing for divorce. This sounds obvious, but as experts point out, it serves an important financial purpose. "Having this note on your financial files helps protect any money you make after that date," writes Lindsay Tigar. "If you’re separated from your partner for six months before divorce proceedings begin, all of that income is yours. Without a legally binding separation, that cash could get split down the middle. This date also applies to decisions involving child support and alimony."

'Tis the season…for scamming? 2024 is shaping up to be a record-breaking holiday season for scammers, thanks to AI making it easier for them to generate sketchy emails and fake websites. The FBI is warning shoppers to be on the lookout for holiday-related fraud and to take steps to protect your money – for example, using a secure payment method, like your credit card. "Credit cards allow consumers to dispute unauthorized charges and often provide fraud monitoring services," writes Lars Daniel for Forbes. "Conversely, payments made through gift cards or wire transfers are nearly impossible to recover once sent, which is why scammers frequently demand these methods."

Things That Save You Money

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Lose $$$ due to a travel mishap? Fight back with these hacks from the New York Times, including using this government form to make getting a refund for air-travel related issues easier.

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Light up your front yard, not your electricity bill this holiday season with these expert tips. One of them? Ditch fan-powered inflatables, which use a lot of energy and cost about $1 a day to operate.

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It’s the most wonderful time of the year…to buy a used car. "New Year’s Eve and New Year’s Day are the best days of the year to buy a used car, because there are 47.9% more deals than average," CNBC reports.

Ask Jean

Can a small business open a high-yield savings account?

The short answer? Absolutely. A high-yield savings account, or HYSA, is a bank account that pays a higher rate of interest on your deposits than you’d get in a traditional savings account. While most high-yield savings accounts are offered to individuals, there are banks, credit unions and other financial institutions that have similar accounts available to businesses.

As with any new account, you’re going to want to shop around. Compare terms, interest rates and fees to determine which account best fits your needs. One thing to keep in mind– HYSAs exist mostly online-only, which requires making some administrative adjustments, depending on how you want to use the account. They are best for money you don’t need to frequently access.

Submit your questions to Jean here.

More For You To ♥

👛 We’re in the middle of a "generosity crisis," but even donating a small amount can have a big impact on your favorite nonprofits. Nancy Brown, CEO of the American Heart Association shares her top tips for smart charitable giving on the latest HerMoney Podcast*. The HerMoney Podcast is made possible by Edelman Financial Engines.

🤭 $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. Use code SAVENOW for 15% off here.

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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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