🍾 New Year, new job

Stat Of The Day

5.3 years

Want to live longer? Get to steppin’. New research shows Americans over age 40 could live an extra 5.3 years if they upped their physical activity to match that of their most active peers. "For the least active Americans, the potential gains are striking: a single hour-long walk could translate to approximately six additional hours of life expectancy," as ScienceBlog reports.

PS: Living longer = needing more cash in the bank. If you’re behind on planning for what could be an extended retirement, get your money right with help from FinanceFixx, HerMoney’s financial coaching program. Our next "Pre-Retirement Checkup" kicks off on January 8! Use code HOLIDAY for $100 off.

How To Get A Job In 2025 (Even In A Tough Market)

What’s on your 2025 to-do list? If you said "looking for a new job," you aren’t alone. According to a recent survey, 56% of people say they’ll be job hunting in the New Year.

If it’s been a minute since you’ve brushed off your resume, there’s a lot to get caught up on when it comes to landing a new gig. That’s why we tapped Erin McGoff, the go-to internet bestie for all things career growth, to join host Jean Chatzky on the latest HerMoney Podcast*.

McGoff says one of the first things job hunters need to do is create what’s known as a "functional resume."

What’s that, exactly? "A functional resume leads with your skills and not with your experience," McGoff says. "First, list the hard skill things you can do (graphic design or customer service, for example). Then talk about how you can do them and what you've done in the past. And then finally, list out the companies that you've worked for and your education and skills."

McGoff says the functional resume is super helpful for those who may have had jobs in different fields, or gaps in employment.

Listen Now

The HerMoney Podcast is made possible by Edelman Financial Engines.

This Week In Your Wallet

Did 2024 = #GirlBoss redux? "Appointments such as JetBlue Airways’ Joanna Geraghty, Expedia’s Ariane Gorin and S&P Global’s Martina Cheung drove the share of female CEOs in the Russell 3000, which encompasses nearly all U.S. public companies, to 9% from 6.8% in mid-2023," reports The Wall Street Journal. And if women have their way, the numbers will continue to rise. According to one recent survey, more women under 50 said they’d prefer to work for a woman than a man, and 20-something men said they were OK with either gender at the helm. "That’s a change from a decade ago, when far greater numbers of workers said in Gallup surveys that they preferred working for a man vs. a woman and fewer than half were neutral on the matter," notes the WSJ.

Got big earner energy? If you make more than your partner, it can be a challenge to divvy up expenses. That was the case for one writer, who shared what it was like to make 55% more than her husband with HerMoney.com. "I’m frequently faced with adjusting my goals or finding a way to negotiate our feelings," shares L.W. Northmore, who says there are five convos she and her husband have had to keep their money (and their emotions) on track. One of them? How they’ll tackle long-term goals, like buying a home. "We’ve decided that I will put aside money for the deposit, while my husband will not. Part of the reason I’m comfortable with this is because I know that my husband’s income most likely will increase significantly within the next three to four years, so the inequality of our contributions does have a foreseeable expiration date."

Thanks for the short workweek, robots. 3.5-day workweeks could be the norm for your kids, thanks to AI. That’s a prediction from the CEO of JPMorgan Chase & Co., Jamie Dimon, who says while tech will continue to replace jobs, it could lead to a better work-life balance for many. "Your children are going to live to 100 and not have cancer because of technology," Dimon previously told Bloomberg TV. "And literally they’ll probably be working three-and-a-half days a week." We’re here for it.

Things That Save You Time

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What if we told you that owning less clothing would end your nothing-to-wear syndrome and save you time and money? That’s the theory behind a "capsule wardrobe" — a small collection of largely seasonless, versatile basics. Here’s how to build yours.

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Another time- and money-saving strategy for getting dressed is renting your wardrobe. The HerMoney team has been using Armoire. HerMoney subscribers get additional savings here.**

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Big city living doesn’t have to break the bank. Here are five surprising ways urbanites can more easily make ends meet, including throwing a housewarming party. And no, we’re not going to tell you to skip your daily latte.

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Yes, Sephora has some great deals right now (gift sets, amirite?). But did you know you can level up your savings? Head to a Kohl’s with an in-store Sephora. Then, go to the Customer Service desk. That’s where you’ll likely find a coupon for 10% off your Sephora purchase. Woot!

Ask Jean

Unfortunately I’ve had a job change and can no longer afford my lease on a brand-new vehicle I just purchased in March 2024. Any advice on how to get out of a lease?

I’m sorry to hear that. But the good news is, you have options. Before you pursue any of them, brush off your lease agreement. Be on the lookout for any clauses having to do with early termination or a lease transfer.

Next, pick up the phone and call your leasing company to explain the situation. They’ll be able to tell you if you’re eligible for a lease transfer or an early termination, both of which will more than likely have associated fees. Many lease agreements will allow you to transfer the lease to another person. There are websites out there that aim to pair people in your situation up with those who might be looking to take over another person’s lease (for example, Swapalease.com and LeaseTrader.com). Notably, though, this can come at a cost.

You could also explore trading your vehicle in. Check with the dealership where you leased the vehicle, and see if you can swap it for another option that has more manageable monthly payments. This too could come at an expense, so do the math to ensure you’re not taking too big of a financial hit.

Lastly, you could explore a buyout. This would mean purchasing the car before the end of the lease (which would require you to pay the remainder of the lease payments, as well as fees). After purchasing the vehicle, you could put it up for sale and try to recoup most of your cash.

If you want to see what a lease-exiting situation looks like IRL, here’s the advice I gave one California couple looking to get out of their fully loaded electric (and not to mention pricy) Audi e-tron.

Submit your questions to Jean here.

More For You To ♥

👛 From Saver to Spender: How to Master the Art of "Decumulation." Many of us spend decades saving for retirement. But what happens when it’s time to spend those hard-earned dollars…how do you make them last? Find out on the latest episode of "Your Money Map," sponsored by the Alliance for Lifetime Income.**

📈 Join Jean and special guest, Stephanie Link, for HerMoney’s next investing club meeting, for free. The next session is on Monday, December 9, at 8pm ET/5pm PT. Even more, if you know you want to learn how to invest and/or invest more in 2025, use code LEVELUP to get 20% off your annual subscription to the investing club and your first month free. Level up your money here.

📲 Need help knowing how much to invest? We can help with that, too. Jean’s four-week FinanceFixx program is designed to help you build a new budget and an understanding of how much money to allocate for your short- and long-term investing goals. January’s class has a few spots left. Use code NEWBUDGET for 20% 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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