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This Week In Your Wallet
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Job hopping is out. Job hugging is in. With the job market cooling, more workers are clinging to their current gigs. According to new data from Monster, 75% of employees plan to stay put through 2027, and nearly half admit it’s fear and uncertainty keeping them cozy where they are. "Workers are holding on tighter than ever, but not because they’re complacent, but because they’re cautious," says Vicki Salemi, career expert at Monster. "Job security and stability have become emotional safety nets. The new loyalty is about survival, not necessarily satisfaction." Meanwhile, employers are feeling less pressure to hang on, as The Wall Street Journal reports. After several years of "labor hoarding" – or keeping staff out of fear they’d be hard to replace – the trend is now fading.
The average American carries $6,473 in credit card debt. If yours has started to spiral, there are ways to take your power back. This week on HerMoney.com, one writer shares the steps that helped her climb out of $200,000 in credit card debt – starting with a little tough love and a calculator. "Gather all your credit card statements and calculate the total amount you owe. Now, divide it by 12 for the whole year. Look at that figure. Is it possible for you to actually make a payment of that amount each month after subtracting your living expenses and any other debts?" asks Simone Milasas. "If that seems impossibly high, then you’re living beyond your means – with the help of credit cards."
😮💨 If your credit card balances top $10,000, a debt relief program could provide some breathing room. Here are our top-rated picks, all of which have A+ ratings with the Better Business Bureau.
We’d all love a personal makeup artist, but who’s got that kind of budget? Luckily, AI might be the next best thing. The Wall Street Journal reports that beauty brands are rolling out tools that analyze your skin and hair to give ultra-personalized product picks. To make the magic work, pros say you should snap your selfies in natural light and stick with "lightweight" or "buildable" foundations. The full-coverage stuff is too tricky for the bots to match.
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Ask Jean
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Today’s question comes from Brooke. She writes: "I love shopping at T.J. Maxx and Marshalls and often see high-end skincare products there. The prices are obviously much lower than what I’d pay elsewhere – but am I wasting my money? I’m worried they might have been sitting on the shelf for a long time."
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We phoned a friend for this one – Val Monroe, former longtime beauty director at O Magazine. Here’s what she had to say:
"The issue this reader should be considering, rather than whether the products have passed their expiration date, is whether they're worth spending more on than on a similar, likely equally or even more effective drugstore product.
Most expensive skincare products are pricier, not because of more effective ingredients, but instead because of more expensive packaging and marketing strategies. So that's what you, the consumer, are paying for, not for a more effective product."
As for the products themselves, they’re not usually expired — but they are ones that have likely been discontinued, or they may be from past seasons (yes, makeup and beauty have seasons just like fashion items.) If they’re truly things you love, it’s okay to go for it. If you’re buying just because it’s on sale, remember one of my favorite Money Rules: If it’s 50% off, it’s still 50% on.
💄 PS, if you’re looking for more beauty tips – budgeting and otherwise – Val’s Substack is a favorite of mine: How Not to F*ck Up Your Face.
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Submit your questions to Jean here.
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Things That Make You Money
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How To Speak Financial Advisor
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Whether you’re hiring a financial advisor for the first time, reassessing a current relationship, or getting serious about retirement, knowing what to ask a financial professional — and how to ask it — can make all the difference.
Pam Krueger, founder and CEO of Wealthramp, joined the HerMoney Podcast recently to role-play some of the most important money conversations you’ll ever have.
If you’ve never worked with an advisor and are heading into a first meeting with one of your prospects, Krueger suggests starting the convo like this: "I’d love to walk away from today’s initial conversation and be able to know if there is a potential fit here. So I’m hoping to cover three main things in this intro call that are really going to help me."
Follow it up by letting them know more about you and your goals – including what you hope to accomplish by working with an advisor.
Once you’ve set the stage, fire away with these three questions:
• "Can you describe the types of clients you typically work with?"
• "Can you give me an example of how you help them?"
• "Tell me about your fees – how are clients paying you?"
For more scripts and tips – whether you already have an advisor or are navigating other money situations – tune in here.
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