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Stat Of The Day
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5%
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Ho ho…no? Consumers say they’ll spend about 5% less this holiday season – the first big dip since 2020. In fact, 84% say they’ll be trimming their holiday budget thanks to rising prices, tariffs and a higher cost of living.
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This Week In Your Wallet
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Hurricane season always brings the same question: How do you cut the cost of homeowners insurance? Enter Ben Keys, a professor of Real Estate and Finance at the University of Pennsylvania’s Wharton School. He says there are three key steps we can take to pay less. His #1? Shop around. In a survey of 14,000 homeowners and renters, only 7% were actually comparing policies. Keys says that’s like leaving money on the table when a few phone calls could mean serious savings. “It becomes a very automatic renewal process,” he shares. “You shop around at the time when you might be buying a house, or when you’re refinancing the mortgage, but usually you’re going to stick with the same insurance provider year after year.” Ready to compare rates? Get started here.
Splurging in today’s economy might seem taboo – but experts say it’s actually okay if you do so wisely. It comes down to smart tradeoffs, planning and making sure your spending “creates long-term joy and meaningful life connections and memories,” Elizabeth Husserl, co-founder of the financial management firm Peak360, tells The New York Times. For her, that meant a $4,000 splurge on Taylor Swift tickets. The trick is getting more mileage out of the experience, rather than rushing to the next big thing. For Husserl, “that means wearing matching Swiftie sweatshirts with her daughter on Sunday mornings and looking through photo albums of their trip rather than scrolling Instagram,” says the NYT.
Last year, annuity sales hit a record high in the U.S. But even so, four out of five Americans struggle to understand them. This week, we’re breaking down the ins and outs of annuities – everything from how they work to what the best age is to get one. “I once heard of annuities described as a 'DIY pension,’ and I’ve always loved that train of thought,” writes Howard Gensler. “Yes, we have Social Security as a pension, but it’s not likely to cover all your fixed costs, and in 2025, very few of us have a pension from our employers. But when you buy an annuity, you’re guaranteeing that your money will last as long as you do, and
there’s a lot of peace of mind in that.”
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No Miracles Required: Your Retirement Plan Starts Here
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A recent survey found that 21% of people think it will “take a miracle” to retire securely. We say forget miracles – you’ve got FinanceFixx.
The Pre-Retirement edition of FinanceFixx is a 6-week program designed for anyone about 10 years away from retirement. We’ll help you figure out if you’re on track to retire when you’d like – and pivot if you’re not. Along the way, with help from a certified coach, you’ll learn how to rein in spending, crush debt and create a budget that makes your savings last.
Our next session starts September 30. Join us here and use code SAVENOW for a special discount.
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Things That Save You Time
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Do You Need A Financial Therapist?
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“There’s an emotion attached to money that we don’t talk about…and what happens is it actually impacts both our health and our wealth, like a deep secret we’re hiding,” Erika Wasserman, author, “Conversations with Your Financial Therapist”
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We’ve all heard the phrase “money talks.” But in reality, most of us aren’t talking about it at all – not with our partners, our parents and sometimes, not even with ourselves. Instead, we quietly carry stress, guilt, fear and avoidance.
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That’s where financial therapy comes in. On the HerMoney Podcast, Jean Chatzky sits down with Erika Wasserman, a certified financial therapist and author of “Conversations with Your Financial Therapist,” to unpack the emotional side of money.
They cover everything from credit card guilt to why financial procrastination is almost never about laziness. “There’s an emotion attached to money that we don’t talk about…and what happens is it actually impacts both our health and our wealth, like a deep secret we’re hiding,” says Wasserman.
If you’re confident in your relationship with money, you might not need a financial therapist, but there are some telltale signs you do. “If you are uncertain, curious, or don’t understand some of your patterns or habits, or want to work on them, having a conversation with a financial therapist is an opportunity to learn about your relationship to money,” she adds.
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Ask Jean
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I'm looking for a second job to supplement my income and pay down some debt after a rash of unfortunate events. Any suggestions?
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You’re not alone. These days, a single full-time job often isn’t enough. In fact, 34.2% of people with side hustles say they rely on that extra income to cover day-to-day expenses.
If you’re ready to bring in some extra cash, here are a few solid options:
Virtual assistant: Help busy professionals with tasks like emails, scheduling, or research. You can either find a position on your own or go through an agency to be matched.
Customer service rep: Many companies hire remote reps to handle calls, chats or account support – often with flexible, off-hours shifts.
Mobile notary: Travel to clients who need documents notarized and earn up to $1,000+ a month part-time. Note, the requirements and cost to become a notary vary, depending on the state you live in.
Social media manager: If you’re already active online and love keeping up with trends, why not get paid for it? Many businesses hire people to run their social accounts. With just an internet connection and some creativity, it can be an easy, work-from-home side hustle.
Want even more ideas? Check out our list of 10 in-demand remote side hustles and where to find them.
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Submit your questions to Jean here.
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More For You To ♥
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🙏 Could gratitude be the key to getting ahead in your career? CNBC Senior Media & Tech Correspondent Julia Boorstin says yes – and shares why on the latest episode of How She Does It.
👗 Why buy when you can borrow? Armoire lets you play dress-up with designer labels for way less than retail. Sign up here for up to 60% off your first month of membership + two free bonus items!
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