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| Stat Of The Day |
| $1,000 |
Babies born between December 31, 2024 and January 1, 2029 are set to receive a $1,000 head start, thanks to what are being called “Trump accounts.” Each one comes with a government-funded deposit that’s invested in a diversified fund that tracks a U.S. stock index. Parents can chip in up to $5,000 a year, too (though whether or not you should is up for debate). It’s all part of the just-signed One Big Beautiful Bill Act. But it’s not all sunshine and rainbows. Scroll on to see how the legislation’s fine print could impact your wallet, for better or worse. |
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| What Does It Mean When You Dream About Money? |
Before you brush off the idea that our dreams have an impact on our waking life, think again. Research shows they can influence how we feel and act during the day.
A study published in Social Psychology and Personality Science found that certain dream events can impact how we interact with our significant others in real life. Other research has linked dreams to shifts in our mood and behavior the following day.
So, what happens when you dream about money? According to Kelly Sullivan Walden, author of “It’s All In Your Dreams: 5 Portals To An Awakened Life,” money in dreams can symbolize everything from power and resourcefulness to energy and self-worth.
We asked Walden and two other dream experts to decode the most common money-themed dreams. One of them? Finding money. “If you dream of finding money in your own purse or wallet, this may represent a renewed sense of self-appreciation, self-worth and the ability to value the essential aspects of your life that you may have previously taken for granted,” says Walden. “If the money you dream of finding isn’t yours, then perhaps you are receiving credit for something that you doubt you deserve.” |
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| This Week In Your Wallet |
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It’s official. The One Big Beautiful Bill Act has been signed into law. And while it will take time to unpack all the fine print, some early winners and losers are already clear. One group coming out ahead? Workers who earn tips and OT. “Employees who work in jobs that traditionally receive tips could deduct up to $25,000 in tip income from their federal income taxes, while workers who receive overtime could deduct up to $12,500 of that extra pay,” reports CNN. “However, highly compensated individuals, who make more than $160,000 in 2025, would not qualify.” On the losing side: Low-income Americans. “Many people at the lowest end of the income ladder would be worse off because the package would enact historic cuts to the nation’s safety net programs, particularly Medicaid and food stamps,” notes CNN.
What’s better than doubling your stock returns? Doubling them again…and again…and again. That’s the focus of this piece, where The New York Times’s Jeff Sommer recaps a recent conversation with Charles “Charley” Ellis, a “pioneer of diversified index fund investing.” While it’s easy to get distracted by economy-related headlines these days, according to Ellis, the real “magic” lies in instead focusing on “the remarkable record of compounded, reinvested stock returns over many decades.” How many decades? Ideally, 6. As Sommer writes, $1,000 invested in the S&P 500 sixty years ago would be worth $390,000 today. Don’t have 60 years? Just start with the time you do have. “Anyone who has held diversified stocks for a long time has experienced spectacular gains,” says Ellis. “Stick with the stock market for decades because that’s where the sweet, sweet, sweet stuff comes through.”
🪄 Ready to make your own market magic? Join InvestingFixx, HerMoney’s women-only investing club. No experience required…and did we mention, your first month is FREE?
Consumers are cutting coupons out of their lives. As The Wall Street Journal reports, even “extreme couponers” are calling it quits, saying the savings no longer justify the time and effort. According to RRD, a marketing and commercial printing services firm, just 50 billion coupons were distributed in 2024, down from over 330 billion in 2010. Redemption has plummeted, too, with only 750 million coupons used last year, compared to 3.3 billion in 2010. “Extreme cost-cutters have pivoted to credit-card points and loyalty programs,” notes the WSJ. “People spend less time shopping, and often don’t have time to compare prices. Many are less willing to schlep from store to store, even if not doing so means spending a few extra bucks.” |
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| Things That Save You Money |
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| Your Financial Reset Starts July 15 |
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As headlines warn of rising costs, economic slowdowns and global uncertainty, getting a handle on your personal finances has never felt more urgent.
Whether you’re wondering how much you’re actually spending, concerned about mounting debt, or just can’t seem to figure out where your money goes every month, FinanceFixx can help.
Unlike other programs where you're just one of hundreds, FinanceFixx offers small-group support and one-on-one coaching from certified, accredited financial experts who bring years of experience to help you sort through your specific concerns.
Our next session kicks off July 15 and spots are limited. If you’re ready to stop feeling stuck and start feeling in control, now is the time to join. Reserve your seat here! |
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| Ask Jean |
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| Q: |
Today’s question comes from Peggy. She writes: Where should I look online for a high-yield savings account? Aside from being insured, what else should I consider before opening one? |
| A: |
A high-yield savings account (HYSA) is a bank account that pays a higher rate of interest on your deposits than you’d get in a traditional savings account. They exist mostly online-only and are best for money you don’t need to frequently access.
There are plenty of tools and resources online to help you compare rates and features, including this one, available at HerMoney.com. As you evaluate how accounts stack up, you’ll want to hone in on a handful of key factors, including:
Interest rate: Look at the APY (Annual Percentage Yield), which reflects how often interest is compounded. Watch for promotional rates versus standard ones. Grabbing a temporary high rate or sign-up bonus can be smart, just read the fine print so you know what you’re getting into.
Minimum initial deposit: Some accounts require just $1 to get started, while others require much more. If you’re building savings, go for a low minimum option. And don’t dip below the required threshold. It could trigger fees or reduced interest.
Minimum balance requirement: Some banks offer tiered interest, meaning bigger balances earn higher rates. Others require a minimum balance to qualify for top rates. Either way, let this serve as motivation to grow your stash.
Fees: Does the bank charge monthly service fees? Does it reimburse ATM fees? Read the fee schedule carefully.
Accessibility: Think about how you’ll use the account. Need ATM access? Check the bank’s network. Prefer digital-only transfers? Make sure it’s easy to link with your other accounts.
Deposit procedures: How do you get money in? Is there a mobile check deposit, or will you need to mail checks or transfer from another account? If the idea is to build up a balance in your high-yield savings account, look for a provider that supports automated monthly or weekly transfers. |
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