| Subscribe Read in Browser |
 |
| Stat Of The Day |
| 78.6% |
That’s how much more you’ll pay for a home if it’s near a top-rated school, according to Realtor.com. Experts say homebuyers can still snag a deal, if they’re willing to compromise on certain amenities. For example, crossing things like a fireplace, central air or garage off your "must have" list could put a home in a top-notch school district within reach. |
|
|
|
| This Week In Your Wallet |
 |
Halloween who? More people are bypassing upcoming holidays and fast-forwarding right to Christmas, and the shopping that goes along with it. A new survey from Bankrate shows 48% of consumers say they’ll start their Christmas shopping before Halloween. While some of us are still mourning the end of summer, there are some benefits to getting your ho-ho-holiday on early. "While some people scoff that the holiday shopping season seems to start earlier every year, getting off to an early start gives you more time to comparison shop for the best deals and spread out the impact of your purchases," says Ted Rossman, Bankrate senior analyst.
ICYMI, there’s a presidential debate tonight. If you’re an investor, you might be watching (and wondering) how the election will impact your portfolio. "While stocks tend to go up regardless of which party controls the White House, they do tend to go up more during Democratic administrations. Factor in control of Congress, however, and the performance patterns shift," explains Daisy Maxey for The Wall Street Journal. The big takeaway? Don’t worry too much about what who’s in the White House means for your investments. "Elections don’t take place in a vacuum," says Dan Lefkovitz, a strategist at Morningstar Indexes. "There are always many variables interacting. Interest rates and inflation are big stories these days; artificial intelligence is another. Policy and regulations have an effect, but they’re among many things that need to be considered." PS: Looking for a place to talk through all things investing, including what the election could mean for your money? We got you. Check out InvestingFixx, HerMoney’s investing club for women. Your first month is FREE!
Just when you thought college was expensive, enter the designer dorm room. As The New York Times reports, they’re the latest trend, especially in southern states, where some freshmen spend more on upgrading their new digs than on their first year’s tuition. And students aren’t doing it alone. They’re enlisting design firms to help with everything from custom drapery to fancy cabinets to cover mini-fridges. One such company is Essentials with Eden, owned by Ole Miss alum Eden Bowen Montgomery. "This year, she had more than 200 dorm clients, requiring 25 seasonal employees. She charges about $10,000 per room ($5,000 per student) for the full service," reports the NYT. If a designer dorm room isn’t in the budget, there are things budget-conscious students can do to DIY it. For example, pros say a tension rod and curtains to cover open closets go a long way. |
|
|
|
| How To Pay For A Home Renovation |
Pining for new fixtures in the guest bathroom? Dreaming of doing an Insta-worthy kitchen makeover? You’re not alone — but figuring out how to pay for those home renovations may be tricky.
Home remodeling is on the rise, reports USA Today, with more than half of homeowners planning to renovate at some point. They’re planning to spend a fair amount, too, with 51% of remodelers saying they’re willing to spend more than $25,000 on their home improvement projects. (For reference, here are the five most profitable ones to take on.)
But before demo day arrives, you need to carefully consider your options for footing the bill for a home reno. We’re breaking them all down over at HerMoney.com, but will clue you in on the best one, here: It’s cold, hard cash, if possible.
"It may take some time and persistence, but if you can save up the cash over a period of time, this is far better than going into debt," says Matt Schulz, chief credit analyst at LendingTree. "Yes, it would be great to have an HGTV showcase home, but not at all worth it if you have to go into years of debilitating debt to get it." |
|
|
|
| Things That Save You Money |
 |
| ● |
No. More. Perfume. That’s the pledge one HerMoney staffer made, until she works her way through the hundreds of little bottles she’s gotten via Sephora sampler sets. Aside from saving $100+ on a new scent, it’s been a chance to discover some new favorites, and oldies but goodies, like Stella by Stella McCartney. Scentsational. |
| ● |
They say it’s your birthday. You might as well get a free meal out of it! Here’s a roundup of all the restaurants looking to celebrate YOU with free eats. |
| ● |
How does an extra $1,500 sound? That’s how much the average participant saves via FinanceFixx, HerMoney’s 8-week budget and financial coaching program. Our next session kicks off tonight and is just for pre-retirees. Join us here and enter code LDW24 at checkout for a special discount. |
|
|
|
|
| Ask Jean |
 |
| Q: |
Today’s question comes from Sandra. She writes: SoFi just dropped my high-yield savings account rate from 4.6 to 4.5. I’d like to move money to a higher-rate account. What’s the best way to do that? Can I transfer it directly from one to another? Or do I need to transfer it back to my brick-and-mortar bank first? |
| A: |
Thanks for your question, Sandra. While the rates can be great with high-yield savings accounts or HYSAs, fluctuation is common.
If you’d like to close this account and move your funds to another that’s giving you a bigger bang for your buck, I would go ahead and first, formally open the new account. Then, see if there’s an option to link your SoFi account using your account and routing numbers. There might be, but there might not be. If the latter is the case, then you’ll need to close the SoFi account, receive the funds via check, deposit them into your brick-and-mortar bank account and then, link that account to the new HYSA to fund it.
One parting caveat, though. Before you initiate any of this, you will want to look carefully at what the transfer policies (including potential limits and fees) for each of the institutions are. And note, with interest rates headed down, if you want to lock in a higher return for longer, a CD may be a better bet. Good luck! |
|
| Submit your questions to Jean here. |
|
|
|
|
|
|
|
| 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. |
*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. AM3625086.
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. |
**This is a sponsored post
¹ Withdrawals are taxed as ordinary income and, if taken prior to age 59 1/2, there may be a 10% federal tax penalty. Withdrawals may result in a surrender charge or a market value adjustment (MVA) and excess withdrawals may result in a reduction of future payments under the guaranteed lifetime withdrawal benefit. Guaranteed Lifetime Withdrawal Benefit provided so long as your account value hasn’t gone to $0 due to excess withdrawals. Annual Percentage Yield (APY) rates are subject to change at any time, and the rate mentioned may no longer be current. Please visit Gainbridge.io for current rates, full product disclosures and disclaimer. ParityFlexTM, a multi-year guaranteed annuity, is issued by Gainbridge Life Insurance Company in Zionsville, Indiana. |
|
