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| Stat Of The Day |
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A new survey from the Federal Reserve Bank of New York shows 44% of respondents believe the national unemployment rate will rise next year, the highest level since the pandemic. If you’re worried a pink slip is in your future, read on for how to prepare. |
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| Laid Off? Here’s What To Do Next. |
If you’re thinking about the possibility of a layoff more than usual these days, you’re not alone. With economic uncertainty dominating the headlines, many are wondering whether it will lead to a job loss.
This week on the HerMoney Podcast, Jean Chatzky sits down with employment attorney and workplace issues expert Peter Rahbar. He explains your post-layoff legal rights, offers practical career tips, and shares the most important mindset shift that can help you bounce back better than ever.
If you’ve been laid off, Rahbar says, first and foremost, don’t panic. You will get through this. Second, understand your rights and the terms of what’s happening – for example, when your job is actually ending, whether you’re going to be offered health insurance, what happens to your 401(k), etc.
You’ll also want to review your severance agreement carefully, and don’t sign it right away. "No one can make you sign it on the spot," stresses Rahbar. "You'll want to look at the agreement and see what it says. And most importantly, you want to make sure that everything you were promised is there, but also that there's no restriction on you finding another job." |
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| Netflix…And Earn? |
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Netflix. It’s not just making headlines for its new subtitle feature (which we totally love, btw). The streaming giant is also turning heads on Wall Street, crushing earnings expectations with a 13% revenue jump during Q1 of 2025. In other words, it’s got some serious momentum.
Netflix is just one of the stocks that make up our InvestingFixx portfolio – a portfolio that, as you can see above, continues to outperform the S&P 500.
In case you’re late to the party, InvestingFixx is HerMoney’s investing club created for women, by women. We meet 2x per month to break down market trends, dig into potential investment opportunities and ask all of the questions – because when it comes to learning about investing, nothing is off-limits. Join us, here. |
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| This Week In Your Wallet |
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Tariffs don’t care about your shopping addiction – and it’s time to change your bad habits before they really start costing you. That includes spending on fast fashion at retailers like Shein and Temu. One alternative? Shopping secondhand. "The app Gem will scrape several secondhand and vintage platforms to show you almost every piece of vintage Armani, gently used silk skirt or dress by Dosa, or hand-smocked sundress by Loretta Caponi," writes Rachel Tashjian for The Washington Post. "These pieces may have sold for hundreds or even thousands of dollars new, but they can be much cheaper in the secondhand marketplace and are of a higher quality than what fast fashion or many mid-priced clothiers offer."
Could a single executive order threaten women’s financial independence? As Newsweek reports, a new executive order (EO) signed by President Trump targets the Equal Credit Opportunity Act (ECOA), which was written to prevent sex-based credit discrimination. Specifically, the EO calls for an evaluation of all pending proceedings under the ECOA. "If independent federal agencies abide by the order, they will stall litigation protecting women from being discriminated against for credit, and they will roll back guidance and regulations which were in place to protect people's rights," reports Newsweek. While it may face legal challenges, the EO is expected to have other consequences, too. "You will see fewer to perhaps no effort by the federal government to make sure that women have equal access to credit, that Black people have equal access to credit. I think that will likely be a consequence," explains Ben Olinsky of the Center for American Progress.
What if we told you that you could become more financially secure in under an hour, for free? It’s true, and all you need to do is freeze your credit. Not only can freezing your credit help those recovering from identity theft, but it can also serve as a preventive measure. "I helped my dad and grandmother freeze their credit reports as they developed Alzheimer’s and dementia, respectively," says Cally Ingebritson, a financial coach in San Diego. "People with cognitive impairments and memory loss are incredibly vulnerable to financial scams, so I recommend that my clients with loved ones in these situations freeze their credit reports." Freezing your credit has never been easier. Here’s how to do it. |
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| Things That Save You Money |
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Costco, we love you…but you’re kinda sneaky. As USA Today reports, Costco uses several mental tricks to encourage you to spend more. One of them? Putting the basics at the back of the store so you have no choice but to walk by a lot of stuff you don’t need ($23,000 hot tub, anyone?). |
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HerMoney reader Nicole ditched her Audible subscription and now saves $200 a year by tapping the resources at her local library. "My county library has three streaming services that include eBooks, audiobooks, movies, and streaming music - and it’s all FREE!" |
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Dark roots aren’t cringey. They’re on trend. As Vogue reports, going "Recession Blonde" (or even "Recession Brunette") can save you time and money. |
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If time is money, then sleep is… gold. If you're ready for a good night’s rest, then you’ll want to tune in for a special sponsored chat with Luke Kelly, CEO of Bryte, a company at the forefront of sleep technology. Together, Jean and Luke tackle some of your biggest questions around sleep — including how to get more of it!* |
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| Ask Jean |
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Today’s question comes from Maria. She writes: I’m worried about my son’s 529 since we have to start drawing from it this fall. Like everything else, it’s losing right now, but we don’t have the option for patience. What are your strategies? |
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No one is immune to the recent economic turmoil, and that includes parents saving for their children’s college education.
Experts say the first thing you’ll want to do is check to see how your 529 funds are currently invested. "Ideally, by the time your child is a senior in high school, you'll want to have most of your funds invested in conservative options like bonds or money market funds," says Martha Kortiak Mert, Chief Operating Officer at Saving For College. "If you have a high percentage of stocks in your 529 portfolio, you will be subject to a lot more market volatility." If this is the case, you’ll want to look at moving at least some of your funds into safer havens. "The downside of this strategy is that you will lock in any recent losses. However, you will also preserve any earnings you've gained since opening the account."
Another approach is to consider is whether you can pay this year’s (and potentially next year’s) bills from other funds. That way, you can give the portfolio time to — hopefully — recover. That may mean borrowing more in the early years of college or paying more out of current cash flow if possible.
Meanwhile, if you are a parent still on the runway to college, it’s time to check in on your approach. As Kortiak Mert explains, you can modify your 529 investments twice per year. As your child gets closer to matriculating, you want to be taking less risk in the portfolio. "Most 529 plans offer a wide range of investment options, including funds with low stock allocations, bond funds, and even money market funds," she says. |
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Submit your questions to Jean here.
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| *This is a sponsored post |
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