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Stat Of The Day
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107%
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Mangia, mangia! Maybe not. Italian pasta importers are staring down a potential 91% tariff, thanks to a U.S. Commerce Department anti-dumping investigation. Add that to the existing 15% EU tariff, and you’re looking at a total of 107%. Translation? Fewer pasta varieties on store shelves – and the ones that do stick around could cost twice as much.
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Homeownership Is Expensive – Here Are 6 Ways To Save
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Spoiler alert – owning a home is costly. Unfortunately, that’s something many of us don’t fully grasp until we’re knee-deep in property taxes and repair bills.
Between insurance, maintenance and the "That’s broken now, too??" moments, the average cost of owning and maintaining a single-family home in the U.S. now tops $21,000 a year.
The good news? There are plenty of ways to keep more of that money in your pocket. This week, we’re rounding up six of our favorite homeownership hacks to help you save.
One of them: Look into property tax relief programs. The median U.S. property tax bill is about $3,500, but depending on where you live, you might qualify for a break. For example, New Jersey’s Senior Freeze Program reimburses eligible seniors and people with disabilities for property tax increases.
Search your state’s website for similar programs and then check out our list of other ways to save.
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This Week In Your Wallet
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If you’re hosting Thanksgiving and thinking about charging a cover fee…don’t. The internet has been buzzing with stories, such as one radio listener who asks guests for $10 each – and even sets up a tip jar. But as Michelle Singletary of The Washington Post writes, that should be taboo. (Or, if you’re from the south, "just plain tacky!") "There is no financial justification for a cover charge for Thanksgiving dinner or any other celebration," Singletary says. "This trend of transferring financial responsibility from the host, who is traditionally expected to pay, to the guest is monetizing fellowship." Instead, get creative to save a few bucks – ask guests to bring a dish, skip the charcuterie board, or make just enough food for the meal (rather than having to force leftover containers of sweet potatoes on
your guests as they walk out the door).
The White House is floating a 50-year mortgage proposal... But is it a good idea? One of the upsides, of course, is lower monthly payments that could help get more people into homes who otherwise couldn’t have made it happen. However, experts note that there are drawbacks, including higher overall interest payments. According to an analysis by the Associated Press, a borrower would pay, roughly, an additional $389,000 in interest over the life of a 50-year mortgage compared to a 30-year mortgage. There’s also been chatter about portable mortgages, too.
62% of older Americans say they plan to leave their children real estate. The problem? Many don’t know the right way to pass it on. As USA Today reports, things can get tricky, and the sooner you can start ironing out the details as a family, the better. "Parents need to do fact-finding to put together a user agreement that allows (heirs) to know how to maintain or use it, how expenses will be paid, who does upkeep, or if they will rotate managing it and get a salary," says Jackie Garrod, a regional wealth manager at Northern Trust. The point is: Don’t leave your kids with a mess that will lead to fighting and animosity. They’re going to need each other after you’re gone.
🛟 Whether you’re passing on property or other assets, having help from a pro is key. Check out some of our favorite estate planning resources here.
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🍏✨ Apple’s Glow Up
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Apple is one of the big names in our InvestingFixx portfolio. At a recent meetup of our investing club, we recapped some of our top holdings and the company stood out – thanks to a stellar earnings report, a new deal with Google and other recent highlights. As InvestingFixx co-founder Karen Finerman put it, the stock "went from laggard Magnificent 7 to star."
Thinking, "Maybe I should start investing?" You should! Join our next InvestingFixx session, FOR FREE, on November 24.
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Things That Save You Money
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If you weren’t able to snag a viral Starbucks "Bearista" cup, we’re writing to recommend trying this Aldi gingerbread man instead… TBH we think it’s even cuter, and the Aldi social media team is killing it on TikTok, throwing shade on Starbucks while also promoting their cup that’s just $5, compared to that $30 bear... Now THAT is some holiday competition we can get behind!
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Boden’s clothes? Fabulous. Boden’s prices? Not so much. But one member of the HerMoney fam found a hack – using this online platform to score 42% back in rewards on her last splurge, which she can swap for gift cards from top retailers.
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How Kendra Scott Turned $500 Into A Fashion Empire
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How does one go from college dropout to CEO of a billion-dollar company and a seat on "Shark Tank?" For Kendra Scott, the answer is equal parts grit, curiosity and gratitude.
Nearly 25 years ago, the then-new mom started making jewelry in her spare bedroom, investing $500 in materials and determined to create stylish, high-quality pieces at an affordable price. For a decade, she bootstrapped the operation with business loans and debt before landing her first investor. By 2016, her namesake company was valued at $1 billion.
As Scott tells Karen Finerman on How She Does It, the journey wasn’t glamorous – especially as a single mom. "I had the pack-and-play in my design studio with them," she shares. "When they would go to preschool, I would just work my tail off until I picked them up, and then I’d bring them back to the design studio with me."
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Ask Jean
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Is meeting with a financial planner worth it? I set up a meeting with someone whom I met at a networking event. I really like her personality and we have multiple mutual contacts. What are the general questions to ask?
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In a word, YES. Even the most financially confident among us can benefit from expert guidance – especially during major life transitions, like retirement, or when we just need a clearer path to reaching our goals.
As Pam Krueger, founder and CEO of Wealthramp, recently shared on the HerMoney Podcast, the key is to walk into your first meeting with an advisor prepared. Start by setting the tone – let them know you want to determine whether there’s a good fit and that you’d like to share a bit about your goals and what you’re hoping to accomplish together.
Then, ask these questions:
• "Can you describe the types of clients you typically work with?"
• "Can you give me an example of how you help them?"
• "What does working together actually look like?"
• "How much – and how – do you charge?"
Before you commit, do your homework. Run a quick check on your potential advisor using BrokerCheck, a free tool from the Financial Industry Regulatory Authority (FINRA). It will show you their background, credentials and flag any serious complaints.
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Submit your questions to Jean here.
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