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| Stat Of The Day |
| 55% |
That’s the percentage of Americans who say their financial situation is getting worse – a record high, according to this poll. Most blame inflation and rising prices. If money stress is weighing on you, small savings habits can make a big difference. Some HerMoney community favorites? Automating a small weekly transfer to savings, doing a monthly subscription audit and meal planning before grocery shopping. Here are more of our community’s best tips. |
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| This Week In Your Wallet |
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Self-doubt and thin skin. Surprisingly, that’s how many high-powered women describe themselves. A new survey of America’s highest earning women confirmed some expected traits – they’re competitive, negotiate their salaries, hold degrees from top universities and consider themselves lifelong learners. But the unexpected qualities are more interesting. They’re more likely to be married with multiple children, nearly a quarter are first-generation Americans and about one-fifth grew up in households where the primary breadwinner experienced unemployment. Above all, though, one quality stands out: drive."The number-one reason that women get into the 1% is drive," says Emily Riley of Riley Strategic, who authored the study. "They just stick with it. That doesn’t mean they keep working on Wall Street until midnight every night, but they find a different way."
Nearly half of private-sector workers don’t have access to a workplace retirement account – but that might be changing. President Trump has signed an executive order directing the Treasury Department to launch TrumpIRA.gov by January, a site where workers can compare low-cost, private sector IRAs by cost, quality and investment options. The order also promotes the "saver’s match," a new federal matching contribution set to take effect next year for low-and moderate-income workers. Congress will have to act in order for Trump’s plans to be fully implemented, but experts say that’s likely an easy lift. "Directing Treasury to make it easier for workers without employer plans to find low-cost, private-sector IRA options — and to promote the ‘saver’s match’ — reflects the kind of practical, market-oriented thinking that has historically attracted bipartisan support," Emerson Sprick, director of retirement and labor policy at the Bipartisan Policy Center, tells The New York Times. Here are four things to know about Trump’s executive order.
If you’ve ever had a Capital One account, you may have money coming your way. Millions of current and former customers are eligible for a payout following approval of a $425 million class action settlement tied to the bank’s 360 Savings accounts. As Newsweek reports, the settlement resolves claims that Capital One misled customers by paying significantly lower interest rates on its older 360 Savings accounts while offering much higher yields on a newer, similar product – the 360 Performance Savings account. Capital One has denied wrongdoing. To see if you can cash in, head here. |
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| Things That Save You Money |
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TJ Maxx is the go-to for clothing and housewares…but books? One HerMoney staffer has been spotting bestsellers in the aisles at half off list price, including the highly rated title pictured above. On your next run, keep an eye out, especially for this buzzy bestseller (which this writer finished in a single day – I HAD to know how it ended). |
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It’s the collab we didn't know we needed. Spotify has teamed up with Peloton to launch a fitness category with more than 1,400 classes. Spotify Premium members now have access to strength training, Pilates, barre, yoga, meditation, and more, at no extra cost. |
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Happy Cinco de Mayo! We’re raising a margarita to this list of deals that will help you celebrate. Free chips and queso are very much on the menu. |
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Parents, brace yourself for "Maycember," that hectic, expensive stretch before school lets out. Take one thing off your plate and browse ten of our favorite meal delivery services, each offering special discounts for HerMoney readers. |
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| Why This Power CEO Treats Her Time Like An Investment Portfolio |
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Thasunda Brown Duckett is a force. A star at JPMorganChase before taking the CEO job at TIAA five years ago, she now oversees more than $1.6 trillion in assets. She’s one of only three Black women currently running a Fortune 500 company – and one of only five ever to have done so.
Duckett credits much of her success to her father, Otis Brown. He grew up under segregation, never went to college and drove trucks for a living. And yet, he urged his daughter to reach for the moon, because even if she missed, she’d "land among the stars."
That philosophy has shaped everything about the way Duckett has pursued career success – and in her conversation on How She Does It, she unpacked it all, including her approach to an overloaded life, which she says should be treated like a portfolio.
"Tell yourself the truth. There's no such thing as 110%, it's a 100%," Duckett says. From there, she figures out what percentage her kids, her work, and her personal needs each receive.
"It gives you language to understand what being over-allocated means. Because if I know my kids only get X percent and someone's asking me to do one more thing in a different category, that means I'm taken away from this allocation, and that's no longer in balance for me," she adds. "So I live my life like a diversified portfolio because over time, you'll outperform this thing called life." |
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| Ask Jean |
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| Q: |
Today’s question comes from Andrea. She writes: "I’d like to bring in a little extra cash every month and am looking for something remote that I can do from home, part-time. What sectors have opportunities these days?" |
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Thanks for your question, Andrea. To answer it, we’re going right to the source – Toni Frana, FlexJobs' Career Expert Manager. Here’s what she had to say:
Recent data suggests that 62% of workers do not feel financially secure in their current role, and many are looking for ways to supplement their income as a result. Side hustles are great opportunities for those looking to earn extra income and relieve some of the financial pressure many are feeling. Finding something that also offers remote work is a win-win because of the flexibility that comes with a remote schedule, making it easier to balance an additional job.
For those with specific experience, roles in graphic design, tutoring, coaching, web design and writing are sectors with opportunities for part-time roles. Even if you don’t have any work experience, there are entry-level opportunities in areas like customer service and data entry.
Whether you have experience or want to try something new, landing a remote-side hustle takes some planning. First, understanding what time availability you have to commit to a part-time role is important. From there, determine what your goals are. Is it solely extra income? How long do you want to work a part-time job? Will you be learning (or investing in) skills that will help your career? Once you have a general idea of what you want a part-time role to look like, you can begin to focus your search efforts to meet your needs and take advantage of the benefits of working from home, part-time. |
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