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| Stat Of The Day |
| 85% |
This just in: The gender pay gap is getting smaller. A new analysis from the Pew Research Center shows in 2024, women earned an average of 85% of what men earned. That’s up from 81% in 2003. Smaller. Just not small enough. |
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| This Week In Your Wallet |
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Want to save more for retirement? Think Marty McFly. A new study shows mentally traveling from the future to the present – rather than the present to the future – helps us feel more connected to our future selves and more motivated to save for later in life goals. "In one experiment carried out by the research team with more than 6,700 customers of a Swedish fintech company, people with low-balance savings accounts were 14% more likely to invest in a long-term savings product when they received a notification with language prompting them to think about the future first," reports The Wall Street Journal.
The dreaded "R" word is making waves. We’re talking about recession, and President Trump isn’t ruling one out. When asked in an interview about the likelihood of one in 2025, Trump said, "I hate to predict things like that. There is a period of transition because what we’re doing is very big." The ambiguous answer, combined with concerns over tariffs, have sent stocks plummeting. But, some economists say it’s too soon to panic. "U.S. consumers have money to spend, [and] they probably will," Holger Schmieding, chief economist at Berenberg Bank, tells CNBC. "The labor market in the U.S. remains reasonably firm, and with energy prices coming down a bit and probably some tax cuts and deregulation coming, I don’t think there’s an imminent recession risk."
🐻 PS: Experts say a bear market could be in the future. Yes, it might take a bite out of your portfolio, but with the right game plan, it won’t knock you off course completely. Join HerMoney’s investing club for women, InvestingFixx, where we’ll break down exactly what to do (and what not to do) in a bear market next Monday night. Your first month is FREE!
🚨 PPS: We’re dropping a special edition of the HerMoney Podcast to cover this week’s recession headlines. Join us Friday as economist Kathryn Edwards unpacks everything you need to know.
If you’re planning a summer vacation, you might wonder if having a travel rewards credit card is worth it. On HerMoney.com, we’re covering everything you need to consider before applying. First and foremost – how often you travel. Sara Rathner, credit cards and travel expert at NerdWallet, tells us, "If you travel frequently, especially if you go overseas once a year or more, travel rewards credit cards can come in handy." As she notes, many options exist, so it pays to know how you’d like to put those credit card rewards to use. She also points out, "If you’re loyal to a specific airline or hotel brand, a co-branded card will grant you perks like free checked bags or room upgrades." PS, one HerMoney staffer gives the Hilton branded credit card high marks. It helped her stay at this swanky Maui resort solely on points. |
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| It’s Time For A Pre-Retirement Checkup 🩺 |
Retirement should be about relaxation – not worrying about how to pay off debt, or wondering where your money went. If you’re planning on retiring within the next ten years, it’s probably time for a pre-retirement checkup – and HerMoney can help with our new, streamlined FinanceFixx course just for pre-retirees.
This 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.
Here’s how it works:
💻 You’ll go to class: Attend weekly, one hour online classes with a certified coach and a small group of women. Together, you’ll learn how to build positive $ habits.
📝 You’ll do your homework: Between sessions, you’ll watch educational videos, complete assignments, and chat with your group (don’t worry it’s only about an hour a week.) You’ll also occasionally work 1:1 with your coach to focus on your money situation and set goals that matter.
🙌 You’ll get support: You’ll have your coach and other group members for feedback, accountability, or both! The bottom line: You’ll see results and—more importantly—build good money habits that last a lifetime.
💰 You’ll save money: Participants report saving an average of $1,500 during the program.
Imagine entering retirement with the financial confidence to know you have what it takes to get through it — no matter how long it lasts. It’s never too late to take control of your finances and achieve your goals. Our first 6-week FinanceFixx kicks off March 25, and spots are limited. Join us, here. |
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| Is It Possible To Change Your Personality? |
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| "You have to change your daily habits, behaviors, and thought patterns in order to actually achieve true personality change." |
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| Have you ever needed to push yourself just a little bit more? To save a little bit more? Or to be a little more strict with your budget? Have you ever wanted to simply become a better version of yourself? |
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Olga Khazan did. She’s a staff writer for The Atlantic, who set out on a yearlong quest to change her personality and wrote about it in her new book, Me, But Better: The Science and Promise of Personality Change. Khazan joined the latest HerMoney Podcast to talk about what worked for her – and what didn't.
As she explains, personality change is possible, but you have to want it—really want it. "You have to change your daily habits, behaviors, and thought patterns in order to actually achieve true personality change," Khazan says. "What you'll notice is a slight reduction in anxiety, or a slightly expanded social circle. You might notice deepening relationships, but it'll still be your same life."
If you're ready to shake things up, here's how Khazan says it’s best to start your own journey to a better version of yourself.
Plus, in Mailbag, Jean sits down with Luke Kelly, CEO of Bryte, a company at the forefront of sleep technology. Together, they tackle some of your biggest questions around sleep — including how to get more of it! (Plus, Bryte offered a special promo just for HerMoney listeners: Input "HerMoney" at checkout at Bryte.com for $500 off the signature Bryte Balance model, and $750 off the Bryte Balance PRO and PRO Conform.) Prioritizing rest = prioritizing yourself! |
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| Things That Save You Money |
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| Ask Jean |
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| Q: |
Today’s question comes from Maddie. She writes: You recently wrote about how merchants lose 3.75 times the transaction cost every time someone digitally shoplifts. How do merchants get to this lost value and how can it be so high compared to the transaction cost? |
| A: |
Thanks for your question, Maddie. As we noted recently, digital shoplifting is unfortunately booming these days. One recent study showed that half of wealthy Gen Zers and millennials admit to the practice.
For those who aren’t familiar, digital shoplifting can take on many forms, including claiming a package was never delivered or was stolen, disputing credit card charges made by the merchant, or saying the product was never intentionally bought in the first place. These practices cost businesses more than $100 billion annually.
As you noted in your question, when someone digitally shoplifts, merchants aren’t just eating the cost of the item that was stolen. Their losses, typically, are around 3.75 times the value of the transaction.
Why so much? As Fortune reports, a number of costs are baked into a merchant’s losses, including those associated with lost revenue and merchandise, chargeback fees, increased overhead costs, and damaged relationships with credit card networks. |
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Submit your questions to Jean here.
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