| Subscribe Read in Browser |
 |
|
|
|
|
| This Week In Your Wallet |
 |
From fuel costs and inflation to the FIFA World Cup, there’s a lot shaping how families are planning summer travel right now. The BBC talked to six families around the globe about their itineraries and how they’re affording them – and the differences are fascinating. "Lots goes into the choices. Geography, budgets, paid leave and cultural norms all shape how families travel," reports the BBC, noting that for many, lower-cost camping getaways are part of the plans. Fun fact that will likely make you deeply jealous: Swedish workers are legally entitled to at least five weeks of paid annual leave. Take note, USA.
🧳 Planning a trip this summer? Depending on where you’re headed, travel insurance could be a smart move. We like this option.
Here’s the scenario: You have people depending on you – kids, an aging parent, a partner. Now, ask yourself… do you have life insurance? If not, you’re in good company. Only 49% of women are covered, compared to 58% of men. The gap often comes down to myths, including the idea that rates are the same everywhere. That’s not the case, Logan Sachon, a life insurance expert, tells HerMoney. "The same person can be rated completely differently by different carriers. Someone who is on Prozac and has diabetes may be a worry for one carrier, and not for another," she explains, adding that rates can sometimes fluctuate by as much as 40%. The lesson? Get a second, third – maybe even fourth – quote before you say no.
Would you trust AI with your portfolio? About 30% of everyday investors already use it – and Wall Street Journal reporter Gunjan Banerji spent months seeing if they’re onto something. She asked ChatGPT to guide her through some of the year's biggest market moments, from the government shutdown to the Iran War. Then, she asked real financial advisors to grade the advice. The verdict? AI is great for making financial concepts easier to understand, but it isn’t ready to be your full-time advisor. MIT Finance professor Andrew Lo has a memorable way of putting it: treat your AI investing tool like a brilliant but unreliable teaching assistant. "He tended to smoke too much marijuana," Lo says of a former TA. "Take everything with a grain of salt." Same energy.
💡 Want to actually boost your investing knowledge? InvestingFixx, HerMoney’s investing club for women, meets twice a month over Zoom – and your first month is free! |
|
|
|
| Things That Make You Money |
|
|
|
|
|
|
|
|
|
| Ask Jean |
 |
| Q: |
Today’s question comes from Wilma. She writes: "My credit card company lowered my credit limit. I do have good credit – is it because I’m not using my card enough?" |
| A: |
Great question, Wilma – and honestly, a frustrating situation. The truth is, the only way to know for sure is to call your credit card company and ask directly. But here are two likely culprits:
Your credit utilization crept up: Credit utilization is the amount of your total credit that you’re currently using. If you’ve been spending more lately, your utilization ratio may have risen – and the card company may have automatically tightened your limit. "It's possible this person has high credit utilization because they recently spent a lot, which the credit card company flagged and now is automatically de-risking by lowering the limit," explains Nathan Mueller, a CFP with BlackBird Finance.
Interest rates: If your card now has a higher interest rate, the company may have lowered your limit. "Since the cost of debt has risen, they may have lowered your allowable credit to adjust for this change," explains Zachary Bachner, a CFP with Summit Financial Consulting.
Bottom line? Pick up the phone. You deserve an explanation – and sometimes, by just asking, you can get your limit restored. |
|
| Submit your questions to Jean here. |
|
|
|
Money Rules That Never Get Old
(Even When You Do) |
When Beth Kobliner first wrote "Get a Financial Life" in 1996, publishers told her no one would buy it. "They’re having too much fun. They’re too young," she recalls them saying of her peers.
Thirty years and half a million readers later, the fifth edition is out – updated for a generation navigating a financial world that looks nothing like their parents’.
On the HerMoney Podcast, Kobliner shared the money rules that still hold. One of the most important? Stop sacrificing your own retirement to bankroll your adult kids.
"You have to say, ‘I’m going to put myself first,’" she explains. "You gave them a lot as a parent, but you have to put yourself first because ultimately that will help your kids."
For more – including the one financial mistake Kobliner wishes she hadn’t made – head 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. |
| *This is a sponsored post |
|
