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Stat Of The Day
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10:06 PM
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That’s the average bedtime for 18 to 34-year-olds, according to a recent survey by Sleep Number. It’s 12 minutes earlier than last year’s average and some say, part of a new trend toward earlier bedtimes. Those who are fans of more shuteye say it helps them improve productivity and save hundreds by avoiding spending on late-night food and drinks, according to The Wall Street Journal. As they say, nothing good happens after midnight, er, should we say 9:00 PM.
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No-Cost Ways To Show Support On International Women’s Day
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Tomorrow is International Women’s Day. What better way to celebrate than investing in each other? This week on HerMoney.com, we’re covering five of the best ways to do so.
One of the easiest things you can do is champion others’ successes by uplifting other women whenever possible. Elevate women by acknowledging and promoting their accomplishments. Give them visibility in meetings and on social media. Link to their websites and champion their milestones (it’s free!). When we take time to shine a light on a single woman, we help lift all of us.
For other ways to support your fellow females this International Women’s Day, head on over to HerMoney.com.
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This Week In Your Wallet
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9 million homes will come on the market within the next decade as baby boomers are expected to downsize in the years ahead. "Some have warned of a ‘silver tsunami’ as aging boomers look to sell their homes, flooding the market with inventory," a recent report from Freddie Mac notes. "But as this analysis demonstrates, the tsunami is more like a tide, bringing a gradual exit that will mostly be offset by new entrants." As Fortune reports, whether it’s a "silver tsunami" or "silver tide," it won’t completely fix housing affordability for young people. "While some baby boomers might move into retirement communities, others may opt for smaller homes—the same ones that younger generations want," Fortune reports. "That could continue to sideline millennials and younger generations, and potentially drive up starter home prices further."
This is your brain. This is your brain on shopping. Clocks and windows…two things that are missing from most casinos, shopping malls, and grocery stores. These design elements–and others, including maze-like layouts (we’re looking at you, IKEA)–are tactics used to create "temporal distortion," which makes us lose track of time and spend more money. As Mark Dent explains for The Hustle, "When we shop, we have about 20 minutes before our brains lose the power to keep us from making questionable financial
decisions," according to research. One thing standing between your wallet and the mind games retailers play? Smartphones. "A ping from a text or email can draw a person’s eyes to a screen, giving them an instant reminder of the time and something else they could be doing."
Good news for student loan borrowers–it’s now easier to save money for retirement and pay down college debt. "Starting this year, workers with student loans can receive employer-matching contributions in workplace plans, even if they’re not able to save anything on their own. The loan payments count instead," reports Tara Siegel Bernard for The New York Times. The assistance was made possible through legislation called Secure 2.0, which aims to make it easier for Americans to save for retirement. At this point, it’s unclear how many companies will offer the benefit, but as the NYT reports, several large employers are already doing so, including News Corp, Dow Inc., Unilever, and others. "2024 is going to be a year that student loan match provisions could come to some 401(k) plans near you, but it may be closer to the end of the year," David Stinnett, head of strategic retirement consulting at Vanguard, tells the NYT.
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Things That Save You Money: The Birthday Edition
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Yeah, cake and gifts are cool…but have you ever gotten free stuff (like, lots of free stuff) on your birthday? Here are some of our favorite birthday freebies (no purchase necessary, of course!):
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Join Ben and Jerry’s Flavor Fanatic Club and get free ice cream on your birthday.
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Chick-fil-A One members will receive a free birthday reward for a Chocolate Chunk Cookie or Chocolate Fudge Brownie.
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Becoming an Ulta Beauty Rewards member will get you a free deluxe sample or travel size from popular brands like Smashbox, SUNDAY RILEY, OLAPLEX, and others.
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What’s better than fro-yo on your birthday? Free fro-yo on your birthday. Sign up for a Pinkcard from Pinkberry for free frozen yogurt on your b-day.
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Sign up for a J. Crew Passport account and you’ll be treated to $10 off a future purchase. Our favorite shopping strategy? Use the reward to buy an item that’s right around $10, like this rhinestone-studded headband for $10.99. PS, your order ships free!
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Rx For Success: A Doctor’s Journey To Becoming A Productivity Expert
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"I realized very quickly that time management only takes you so far"
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According to Gallup, 68% of Gen Z and younger millennials report feeling stress often at work. Ali Abdaal was one of those workers facing burnout. As a junior doctor and a recent graduate from Cambridge University, he did everything he could to keep up but was mentally and emotionally breaking.
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When he sought out help, the advice from experts was all the same: "Just keep grinding." Abdaal realized that mentality wasn’t going to work for him, so, as he tells host Jean Chatzky on the latest HerMoney podcast*, he set out to master productivity on his own. "I realized very quickly that time management only takes you so far," says Abdaal. "And it was a lot less about time and a lot more about energy and enjoyment."
Today, Abdaal is a doctor-turned-entrepreneur who has become one of the world’s most-followed productivity experts. Listen in to hear his tips for making work more enjoyable and the #1 question he asks himself every day to become more productive.
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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 Stacey. She writes: I’m single, about to turn 52 and have no children. Can I still change my deductions for the year? When is it too late? Thanks.
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Thanks for your question, Stacy! The short answer is yes, at any point in time, you can submit a new W-4 to your employer to change your deductions for the year.
For those who don’t know, a W-4 is a form used to help employees indicate their tax withholding preferences to their employers. The info you provide on your W-4 helps your employer determine how much federal income tax to withhold from each paycheck.
The form includes key information, such as your filing status, number of dependents, deductions, credits, and any additional amount you want to withhold. If your W-4 is inaccurate, you run the risk of having the wrong amount of taxes withheld from your paycheck. This could result in an overpayment of taxes or worse, an underpayment of taxes, which could mean getting hit with a big tax bill (ouch).
The IRS recommends reviewing and updating your W-4 periodically (at least every year), especially if you have any changes to your personal or financial situation. Some of the most common reasons people update their W-4 include:
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Getting married or divorced
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Having a side job that doesn’t have any tax withholding
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Being unemployed for part of the year
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Childbirth or adoption
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Purchasing your first home
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If you need to update your W-4, this tool from the IRS can help determine what your withholding should be.
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Have a question for Jean? Submit it here.
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More For You To ♥
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👂 We’re flipping the script, and asking How She Does It podcast host Karen Finerman how she does it all. Listen here. The How She Does It* is proudly supported by iShares.
⏰ Last chance to weigh in! If you haven’t already, please consider taking our podcast and community survey to help shape our content for the rest of the year. As a special thank you, you can enter your email at the end for a chance to win $100.
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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. AM3339251.
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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**This is a sponsored post
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BLACKROCK and iSHARES are trademarks of BlackRock, Inc. or its affiliates (together "BlackRock"). The information provided in this communication is solely for educational purposes and should not be construed as advice or an investment recommendation. Any opinions expressed do not necessarily represent the views of BlackRock. BlackRock is not affiliated with HerMoney.
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