💵 VOTE like your wallet depends on it

Stat Of The Day

$16 Billion

Well, we made it to November 5. When Election Day ends, candidates vying for federal office will have smashed spending records. That’s according to OpenSecrets, a non-partisan organization that tracks money in politics, which estimates that in total, $16 billion will be spent, eclipsing 2020’s previous record of $15.1 billion.

The Election And Your Wallet

Need a distraction as you wait for the polls to close? Grab your headphones and tune into the latest HerMoney Podcast*. In it, host Jean Chatzky sits down with Catherine Rampell of the Washington Post to talk about how who wins the White House could impact your finances.

Top of mind for many voters is inflation. In a recent Gallup poll, 52% of candidates said inflation has an "extremely important" influence on their vote. But unfortunately, presidents have little influence when it comes to lowering prices, Rampell says.

"Presidents actually have very little control over price levels. They can do relatively few things to bring prices down," she notes. "There is, however, quite a bit that they can do to make inflation worse, and on that score, Trump’s agenda is uniformly worse than Harris’s."

That’s because Trump’s agenda, including his proposal to impose universal tariffs, would likely raise prices on a lot of goods, including the fruits and vegetables we buy at the grocery store and imported goods, Rampell explains.

Listen Now

The HerMoney Podcast is made possible by Edelman Financial Engines.

Tune Out The Noise. Focus On Your Goals.

An election year is a great time to pause and review your progress toward your retirement goals. Is your plan designed to help make your money last as long as you do? That is the biggest fear — by far — for women. To help make sure you’re ready for the future, schedule a complimentary Retirement Review and financial plan¹ with HerMoney’s podcast sponsor, Edelman Financial Engines. This special offer running through November 5 includes:

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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

Head here to schedule yours today.

This Week In Your Wallet

What’s got you stressin’? "More than 7 in 10 adults said the future of the nation (77%) is a significant source of stress in their lives, with the economy (73%) and the 2024 U.S. presidential election (69%) following closely behind," according to the American Psychological Association’s latest "Stress in America" survey. It sounds counterintuitive, but to combat election-related stress, the APA says not to isolate yourself from those you think have different opinions. "We must remember that the most extreme voices are often the loudest, and that the majority of adults share similar values and concerns," says APA CEO Arthur C. Evans Jr., PhD.

What could sway the race for president? Inflation in Pennsylvania, according to some experts. "Pennsylvanians appear to be more sensitive to inflation than people in many other states, with research finding that every 1 percentage point increase in inflation before a presidential election is linked to tens of thousands of Pennsylvanians voting against the incumbent and for the challenger," reports CBS. The dynamic could be due to a lower median annual household income in the state, as well as its older population. "Lower-income people devote more of their income to essentials — they will react more negatively," explains Bernard Yaros, lead economist at Oxford Economics. Pennsylvania "also has a slightly older demographic, so people on fixed incomes are going to feel the bite from high inflation."

Did you feel that? It was the economy, achieving the "soft landing" we’ve all been waiting for. According to the latest GDP report, the economy grew at an annualized rate of 2.8% in the third quarter. "Inflation is a whisper away from the Federal Reserve’s 2% target and consumer confidence jumped this month by the fastest clip since March 2021, according to The Conference Board — all signs of a robust economy," reports CNN. Despite the good news, many consumers still aren’t feeling the good economic vibes. "One popular explanation for that paradox is simply that price levels are now much higher than what they were in 2019 before the pandemic," notes CNN.

Things That Save You Money:
Election Day Edition

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Get your nosh on as you wait for the results to roll in. Starting at 6:00 PM, Uber Eats will offer 25% off your order (up to a maximum of $15 off).

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Take the edge off your Election Day jitters with a free milkshake (with any in-restaurant purchase) at Johnny Rockets.

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Whether you’re heading to the polls or on a road trip, this deal from Hertz will hook you up with one free day when you rent 2+ days from one of their neighborhood locations.

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Yo, don’t forget to vote…and then go grab a free frozen yogurt from IKEA using this coupon.

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A free donut AND an "I voted" sticker? Sign us up. Krispy Kreme is giving away both on Election Day.

Ask Jean

A bunch of women in my circle recently gave birth and I want to be a good friend in helping aid them as much as possible. What are some cost-effective ways to do so?

Mommin' ain't easy. Luckily, you can help lessen the mental and physical load of becoming a new parent in a number of ways that won’t break the bank. Here are some of my favorite ideas courtesy of our HerMoney Facebook group (join us, here!):

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"My good friend is having a baby through IVF and she is single and in her late 40’s," shares Amy. "My other girlfriend and I are making individual freezer meals to stock her freezer."

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Form a "meal train," suggests AJ. "People sign up to provide new families with dinner each night. I made a new mom 8 breakfast burritos to eat, share or freeze. She said it helped save her sanity."

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Short visits were life-changing for Jane when she was a new mom. "The most memorable visit was a friend that just stayed for an hour. Did some light sweeping. Brought fruit. Didn’t bombard me with excessive questions. I think I was even able to shower."

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"It’s great to get a "thinking of you" type text or an encouragement text (you’re doing a great job, you can make it through the witching hour, etc.). It’s even better when the text includes something along the lines of "No need to respond. I know life is crazy right now," shares Breann.

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"The BEST gift I ever got, was from a good friend who sent me a DoorDash gift card, so that on a night when I was too tired to cook for the family, I could use that," says Mandy.

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"My friend told me she was having a hard time finding time to organize her closet so I offered to spend my Saturday helping," says Anna. Also helpful? Throwing in a load of laundry. Bonus points if you stick around to fold it.

Submit your questions to Jean here.

More For You To ♥

😲 $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. 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.

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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.