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HerMoney with Jean Chatzky

PRX

Anyone who tells you women don’t need financial advice specifically for them is wrong. Women, whether they’re the caretakers, the breadwinners, or both, face a unique set of financial challenges. That’s where HerMoney comes in. In her frank, often funny, but always compassionate way, Jean Chatzky takes every audience of women through the steps they need to take today to live comfortably (and worry-free) tomorrow, offering the latest research, expert tips and personal advice. Want more money news when you need it? Get the latest and greatest updates on all things investing, budgeting, and making money. Subscribe to the HerMoney newsletter at HerMoney.com/subscribe!

Location:

United States

Networks:

PRX

Description:

Anyone who tells you women don’t need financial advice specifically for them is wrong. Women, whether they’re the caretakers, the breadwinners, or both, face a unique set of financial challenges. That’s where HerMoney comes in. In her frank, often funny, but always compassionate way, Jean Chatzky takes every audience of women through the steps they need to take today to live comfortably (and worry-free) tomorrow, offering the latest research, expert tips and personal advice. Want more money news when you need it? Get the latest and greatest updates on all things investing, budgeting, and making money. Subscribe to the HerMoney newsletter at HerMoney.com/subscribe!

Language:

English


Episodes
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Mailbag: We have $146,000 in student loan debt, how do we pay it down?

5/24/2024
n this Mailbag, Jean talks to Patti and Patrick about the substantial student loan debt they’ve incurred on behalf of their daughter. They explore various ways to pay it down, including using a home equity line of credit or tapping into retirement funds. Jean gives detailed guidance on the best approach to consolidate the debt. The episode also touches on the broader financial responsibilities parents face, and the importance of open communication with children about the realities of debt. Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Takeaways: When dealing with multiple student loans, consider consolidating them to secure a lower interest rate. Before tapping into retirement funds or other long-term savings to pay down student loans, consider the tax implications and potential penalties. Home equity lines of credit can be a viable alternative for paying down student loans, but compare interest rates and terms. Chapters: 00:00:00: Introduction 00:02:52: Details of Student Loan Debt 00:05:18: Interest Rates and Consolidation Options 00:07:52: Home Equity and Savings 00:13:38: Financial Planning and Parental Support 00:16:08: Next Steps The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:19:45

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Ep 424: If Your Budget Isn't Working, Here's Why

5/22/2024
Is your budget working? The 50/30/20 budgeting rule — one of the most popular budgeting methods that has been around for 20 years — was created by Elizabeth Warren (yes, that Elizabeth Warren) and has largely been seen as the “gold standard” of budgeting ever since. But does it work for today’s economy? There’s also reverse budgeting, which we use in our Finance Fixx program, and has helped our participants save an average of $1,500. The point is, we have options, and our goal with our money should always be to find the one that works best for us — especially when our budget isn’t working the way we need it to This week, we’re talking about 60/20/20 budgeting with Sean Pyles, host of the Smart Money podcast. He shares why he thinks this budget is a better framework to follow, and how we can all make budgeting just a little more fun. In Mailbag, we hear from someone who’s in the market for a car and is wondering if now may be the best time to buy an EV. We also hear from a listener who is looking for strategies to consolidate her credit card debt to lower her APR. Chapters: 00:00 The 50-30-20 Budgeting Rule 03:19 Different Perspectives on Budgeting 08:48 Adjusting Budgeting Categories for High-Cost Areas 12:10 Cash Stuffing and the Fun Side of Budgeting 20:04 Considerations for Buying an Electric Car 24:53 Managing High-Interest Credit Card Debt Takeaways: Budgeting is not one-size-fits-all and should be tailored to individual circumstances and preferences. Tracking spending can help identify areas where expenses can be reduced or optimized. Consider alternative budgeting methods, such as budgeting backwards or using the spending and savings bucket method. In high-cost areas, it may be necessary to adjust budgeting percentages to accommodate higher expenses. When dealing with high-interest credit card debt, explore options like negotiating lower interest rates or considering a balance transfer or debt consolidation. When buying an electric car, consider factors such as charging infrastructure and range anxiety. Explore not-for-profit credit counseling agencies for assistance with managing credit card debt. More money news when you need it! Get the latest and greatest updates on all things investing, budgeting and making money. Subscribe to the HerMoney newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:30:57

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Ep 423: How A Coupon Influencer Found Herself In Debt

5/15/2024
In 2010, Lauren Cobello (formerly Lauren Guetman) created an entire brand as “the coupon lady” after she shared her story of how she got her family out of $40,000 in debt by couponing and budgeting. By 2016, she was posting multiple times a day, wrote a few books about couponing and budgeting, and was filming family finance videos with her kids and her husband as main fixtures in her online universe. But here’s the thing about creating a brand and a community around your personal story — sometimes that story falls apart. By 2017, Lauren and her husband split, leaving her to navigate life as a single mom of four….and back in debt again. For a while, she continued to post to keep her brand alive but felt completely inauthentic doing it. Listen in to hear how she reinvented her career — and the personal finance hacks she still utilizes to keep her monthly budget in check. Chapters: 00:00:00 - Introduction 00:05:26 - Lauren's Personal Debt Experience and Recovery 00:09:41 - Therapy and Financial Healing 00:10:34 - Strategies for Managing Money and Avoiding Impulse Spending 00:16:14 - Couponing and Meal Planning 00:21:00 - Career Transition to Media and PR 00:29:12 - Mailbag Takeaways: Get real with yourself and take control of your finances by focusing on what can be controlled. Meal planning and freezer cooking can save money on groceries. Building a brand using books and media can be a powerful strategy for business growth. More money news when you need it! Get the latest and greatest updates on all things investing, budgeting, and making money. Subscribe to the HerMoney newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:42:53

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Mother’s Day Mailbag: I just went through a divorce. How do I make sure we’re financial exes as well?

5/10/2024
In this special Mother’s Day Mailbag edition, Jean talks to mother-daughter duo Mollie and Chris about Mollie’s recent divorce. Jean addresses questions on how to make sure Mollie’s ex-husband's finances are no longer tied to hers, and we tackle how best to combine Mollie’s multiple retirement accounts. Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Takeaways: Closing a joint bank account and starting fresh is the best option after a divorce. Having an ex-spouse's name on a credit card does not impact the primary cardholder's credit, but it can be removed by contacting the credit card company. Rent payments can be reported to credit bureaus through services, which can help build credit for individuals with thin credit files. Consolidating multiple retirement accounts into one brokerage account can make it easier to manage and monitor investments. Converting traditional retirement accounts to Roth accounts can be beneficial for long-term growth, but it's important to consider the tax implications. Maintaining a good credit score and making solid financial decisions are key to navigating post-divorce financial challenges. Chapters: 00:00 Introduction 03:03 Closing Joint Bank Accounts and Removing Ex-Spouse from Credit Cards 05:04 Building Credit with Rent Payments 09:03 Consolidating Retirement Accounts for Better Management 12:52 Considering Roth Conversion for Long-Term Growth The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:19:36

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Ep 422: Media, Money, and Messy Women

5/8/2024
Money touches everything in our lives. And for women, who have long been documented to earn less than men, save less than men, and invest less than men, the stereotype is often that we’re doing money “wrong.” But it’s getting old. We know that statistically, women are better investors than men are, we fare better during times of recession, and we’re often more thoughtful about our budgets. Yet the stereotypes persist: the “girl math” trend of recent years tried to insinuate that we’re messy and unreliable with numbers, and countless female characters in pop culture (those in Fleabag, Sex and the City, and Girls, to name a few) just can’t seem to get their finances together, no matter how hard they try. We say enough is enough. And we aren’t the only ones. Jo Piazza feels the same way — which is exactly why she flipped the script for the main character in her new novel The Sicilian Inheritance. Listen in to hear her story. In Mailbag, we hear from a listener whose 18-year-old son is looking for the best ways to start to build credit, and we hear from a woman who is about to have her first baby and is being pressured by friends to make big (and expensive!) life changes. Chapters: 00:00:00: Introduction 00:06:32: Portrayal of women in finance and media 00:10:03: Strategies for managing work and family life 00:21:22: Managing the impact of social media 00:25:40: Transition to mailbag segment 00:26:01: Financial advice for young adults and credit cards 00:30:20: Lifestyle changes after having a baby Takeaways: Women are often portrayed as messy and unreliable in finance and media, perpetuating stereotypes that can be damaging and untrue. The influencer culture on social media can create an expectation gap between real life and the curated images and lifestyles portrayed online. Financial influencers should be approached with caution, as not all advice and recommendations may be reliable or suitable for individual situations. There is a need for better regulation and transparency in the influencer industry to protect consumers and ensure ethical practices. More money news when you need it! Get the latest and greatest updates on all things investing, budgeting, and making money. Subscribe to the HerMoney newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:40:44

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Mailbag: Financial advice for the recently retired, plus resources for teaching your kids about money.

5/3/2024
In this special Mailbag edition, Jean and Kathryn Tuggle, HerMoney CCO, are on the mic answering questions from our listeners. First, we hear from a recently retired listener who has all of her money in Certificate of Deposits (CDs) and is wondering what to do next. We also hear from someone who is looking for resources that can help teach her three kids about money. Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Takeaways: A financial advisor can help you understand your current investments and make your money last in retirement Work with a fee-only financial advisor who is not paid by commissions for selling specific investments Teaching kids about money involves teaching them about investing and managing the money they have. Setting up a system like an electronic allowance can help kids learn how to budget and make choices with their limited resources. Kids should learn the value of money, how to budget, and how to save Chapters: 00:00 Introduction 04:50 The Benefits of Daily Money Managers 06:52 Financial Advisor Recommendations 09:17 Teaching Kids About Personal Finances 12:08 Opportunities for Kids to Earn and Manage Money 13:21 Teaching Kids About Credit and Investing The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:15:59

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Ep 421: Redefining Success In the Winner-Take-All Economy

5/1/2024
Eleven years ago, Sheryl Sandberg’s “Lean In” hit the shelves and became an instant hit. Her feminist manifesto encouraged women to stop holding themselves back from working to reach positions of power and instead lean on other women’s experiences to help them. Now, many women are pushing back on the “lean in” approach that placed so much responsibility on individual women rather than the societal and economic structures around them. They’re also questioning if they really want to have it all in the first place. In her new book: “Fair Shake: Women And The Fight To Build A Just Economy,” Naomi Cahn and her coauthors explore why our “winner takes all” economy is the root cause of women’s continued economic inequality rather than our individual actions. She also talks solutions, starting with making deeper connections in our communities and reaching out to them for support when we need it. In Mailbag, we hear from a listener who’s feeling burned out in the healthcare field but knows her coworkers are already short-staffed and doesn't want to leave them in a bind, and Jean’s daughter Julia answers a listener's question on where to find friends that are as career-oriented as she is. Chapters: 00:00:00 - Introduction 00:03:12 - Interview with Naomi Khan 00:07:51 - Winner Take All Economy 00:10:18 - Intersection of Feminist Theory and Workplace Progress 00:14:43 - The Triple Bind Women Face in the Workplace 00:17:47 - Strategies for Women to Navigate Career Challenges 00:28:08 - Solutions to Combat the Winner-Take-All Economy 00:33:17 - Mailbag Segment Begins Takeaways: The gender wage gap remains a persistent issue, with women earning an average of 82% of what men earn. The winner-take-all economy, characterized by income inequality and a focus on individual financial success, holds women back in the workplace. Feminist theory is essential in addressing gender equity and dismantling the structures that perpetuate inequality. Systemic changes, such as increasing transparency, strengthening laws, and investing in individuals and communities, are necessary to build a just economy. More money news when you need it! Get the latest and greatest updates on all things investing, budgeting and making money. Subscribe to the HerMoney newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:45:09

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Mailbag: The best place to keep summer job money, plus how to keep an emergency fund.

4/26/2024
In this special Mailbag edition, we hear from a listener whose daughter is getting her first summer job. She’s wondering if it’s best to put the money in a high-interest savings account, or a Roth IRA. We also hear from someone who subscribes to the FIRE movement (Financial Independence, Retire Early) and is so focused on saving that she’s not able to keep money in an emergency account for true emergencies. In our news of the week, some steps you can take if you’ve been waiting weeks (or months) for your tax refund and why eating out may be your biggest budget-killer. Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! Takeaways: Consider opening a Roth IRA for a teenager with earned income to take advantage of potential higher growth. A homegrown 401k can be a way to provide access to money for immediate needs while still saving for the future. Separate your money into different accounts with barriers to prevent easy access. Set up a separate account for vacations to pre-fund trips and avoid using credit cards. Loosen your grip on your financial goals and allow yourself to enjoy life today. Chapters: 00:00:00 - News of the Week 00:03:08 - Benefits of Opening a Roth IRA for Your Kid 00:11:08 - Advice on Managing a High-Yield Savings Account 00:11:45 - FIRE Movement and Emergency Funds 00:18:12 - Setting Up Separate Savings Accounts for Different Goals 00:21:04 - Balancing Financial Independence with Living for Today 00:25:07 - Final Thoughts The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:29:20

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Ep 420: What Financial Freedom Means For Millennials

4/24/2024
Lately, have you been more intentional about the time you spend working? What about putting more effort into finding financial freedom? These are two hot-button topics with Millennials these days, particularly with regard to the time we spend working — specifically, the four-day workweek. About a month ago, Bernie Sanders proposed legislation that could make this the new reality for all of us. But Holly Trantham and her company, The Financial Diet, were ahead of the curve when they implemented a four-day workweek three years ago. Trantham joins us to talk about why they’ve never looked back, and how we can all realize a definition of financial freedom that works for us. In Mailbag, we hear from a listener who can’t seem to get past the first round of job interviews, and we dig into the finances of egg freezing. In our news of the week, we discuss why the Fed is flip-flopping on cutting interest rates this year, what the heck the Bitcoin “halving” means, and why starting a business may lead (counterintuitively) to less stress. Takeaways: Implementing a four-day workweek can lead to happier workers, lower turnover, and greater efficiency. Financial success should be measured by factors like financial stability, security, and the ability to live the life you want, rather than traditional markers like homeownership. The happiness threshold, or the idea that once you make a certain amount of money, your happiness plateaus is not a one-size-fits-all concept. Focusing on your future self and setting financial goals can provide motivation and a sense of security. Community and relationships play a significant role in personal finance and can contribute to overall happiness and well-being. Chapters: 00:00:00 Introduction and Financial News Update 05:05 The Four-Day Work Week 08:09 Redefining Financial Success 27:58 Focusing on Your Future Self 35:25 The Importance of Community in Personal Finance Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:46:33

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An Economist Weighs In On Being A Woman

4/19/2024
A recent essay in the Wall Street Journal made the case that women are both happier — but also overall but sadder — in our daily lives than men are. Why? We’re juggling countless competing priorities on our never-ending to-do lists, including managing our jobs, wrangling our kids' schedules, and keeping up with everything at home. Betsey Stevenson, economist and professor at the University of Michigan, has conducted groundbreaking research in this field. She joins us to talk about why women’s happiness has been on the decline since the 1970s — despite so many great strides for women’s equality since then. And while we have her, we also do a mini-economic check-in for 2024. What’s really going on in America’s economy right now? Use the code "PODCAST" TO GET $100 OFF OF OUR FINANCEFIXX PROGRAM: https://hermoney.com/shop/product/financefixx-finance-coaching-program-by-jean-chatzky/ Takeaways: Women's happiness has been declining despite progress in women's equality. Women constantly make trade-offs and face challenges in balancing multiple responsibilities. Income is correlated with life satisfaction but not necessarily day-to-day happiness. Women should prioritize mental health and well-being to improve life satisfaction. Men also face their own crisis in a changing economy. The economy is experiencing unexpected trends, such as low unemployment and higher inflation. Chapters: 00:00:00 - Introduction and News Update 00:04:39 - Interview with Betsy Stevenson Begins 00:09:22 - Discussion on Women's Happiness and Economics 00:13:31 - Exploring Day-to-Day Happiness vs. Life Satisfaction 00:19:37 - Income, Well-being, and Gender Roles 00:27:32 - Economic Trends and the Role of Men and Women 00:34:48 - Current Economic Conditions and Future Outlook Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:38:51

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Ep 419: What Your Culture Says About The Way You Manage Money

4/17/2024
Navigating money issues with your family is hard. Navigating money issues with your family is even harder when you’re a first-generation American. First-generation children of immigrants face unique cultural and emotional barriers and often find themselves at the intersection of building a financial life for themselves and supporting their parents financially. Gigi Gonzalez found herself facing this dilemma when she got serious about her finances and realized the information she was reading didn’t align with her lived experience or her values. So, she started posting about it on TikTok. Eventually, she quit her job in finance to become a full-time content creator. She offers her best advice on what to do when your personal finance goals clash with your family's money expectations. In Mailbag, we talk about the best investment options for a young kid, and a listener who doesn’t have much saved for retirement is wondering if she should take out a loan to pay her mortgage. In our news of the week, we cover the new magic number for retirement, the best time to sell your house this year, and what to do if you still owe the IRS money. Use the code "PODCAST" TO GET $100 OFF OF OUR FINANCEFIXX PROGRAM: https://hermoney.com/shop/product/financefixx-finance-coaching-program-by-jean-chatzky/ Takeaways: TikTok can be a powerful platform for spreading financial literacy and building a personal brand. First-generation Americans face unique challenges in wealth building due to cultural expectations and a lack of financial education. Setting money boundaries with family can be challenging but necessary for financial well-being. It is important to find a balance between paying off debt and investing. Chapters: 00:00:00 - Introduction and Financial News Update 00:06:07 - Gigi's Financial Education Journey 00:09:04 - Transition from Finance Job to Content Creator 00:11:43 - Challenges as a First-Generation American 00:15:24 - Setting Financial Boundaries with Family 00:23:55 - Improving Financial Habits in Marriage 00:26:01 - Investing While in Debt 00:27:49 - Mailbag Segment 00:29:59 - Listener Question on Investing for Child's Future 00:33:54 - Listener Question on Managing Finances Pre-Retirement Buy Cultura and Cash: https://www.thefirstgenmentor.com/my-book Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:43:22

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Make the Mundane Meaningful With Mike Norton

4/12/2024
Think, for a second, about all of the things you do before you head to the gym or go out for a run. Do you wear special running shoes? How do you tie them? Do you give yourself a pep talk on days when you’re just not feeling it? Is there a certain playlist you always listen to? Dr. Mike Norton, author of: “The Ritual Effect: From Habit to Ritual, Harness The Surprising Power of Everyday Actions,” says while working out at a certain time of day may be a habit, all of these little things we do to get ready are rituals, and paying more attention to them can transform our lives (financially or otherwise). Takeaways: The connection between rituals and financial habits. The difference between a ritual and a habit, with rituals adding emotion and meaning to actions. How to avoid taking ritualistic behavior too far. Insights on how rituals can help high performers manage stress. How to introduce rituals into the workplace without seeming forced or silly. Chapters: 00:00:00: Introduction and News Segment 00:05:43: Interview with Michael Norton Begins 00:07:38: Connection Between Financial Habits and Rituals 00:10:16: The Emotional Aspect of Rituals vs. Habits 00:12:13: Defining Rituals and Their Impact 00:13:45: When Rituals Become Excessive 00:18:06: Rituals of High Performers 00:19:54: Using Rituals to Prepare for Stressful Situations 00:22:41: Workplace Rituals and Meaningful Work 00:25:24: Where to Take the Ritual Quiz and Find More Information Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:27:10

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Ep 418: The Menopause Brain with Dr. Lisa Mosconi

4/10/2024
Money touches everything in our lives — including our health. And women know there’s one topic that has long been ignored in American society, to the detriment of millions of women: menopause. It’s a big deal. By 2030, 1 billion women worldwide will have entered (or will be about to enter) menopause and on average, medical costs for menopausal women ages 45 to 54 are 47% higher than they are for women of the same age who don’t exhibit menopause symptoms. Dr. Lisa Mosconi discusses her new book: “The Menopause Brain,” and explains how the transition impacts our brains and our lives. In Mailbag, HerMoney Editor-in-Chief Kathryn Tuggle is back to answer some down-to-the-wire tax time questions: A listener asks how she should prioritize paying the IRS vs. a credit card bill, and we hear from someone who’s having trouble getting a W2 for her daughter’s summer job. In our news of the week, why we still feel so bad about the economy and how stars mentioning a brand can move the needle on Wall Street. Takeaways: Menopause is a neuroendocrine transition state that impacts the brain as much as it does the ovaries. Neurological symptoms during menopause, such as hot flashes and memory lapses, are a result of the brain's response to hormonal changes. Finding the right healthcare provider who is knowledgeable about menopause is crucial for receiving appropriate care. Workplaces should implement changes to support women going through menopause, such as flexible schedules and a culture of understanding and inclusiveness. Menopause can be a time of personal growth and new beginnings, and women should prioritize self-care and mental well-being during this stage of life. Chapters: 00:00:00: Introduction and News of the Week 00:06:24: What is Menopause, Really? 00:08:25: Neurological Symptoms of Menopause 00:13:50: The Reshaping and Rewiring of the Brain During Menopause 00:18:36: Life Contentment and Menopause 00:20:22: Financial Costs of Menopause 00:25:57: Navigating Menopause in the Workplace 00:28:36: Second Adulthood and "Menno-Start" 00:31:31: Mailbag Segment Begins 00:35:15: Discussion on Tax Debt vs. Credit Card Debt 00:39:12: Filing Taxes Without a W-2 and Roth IRA Concerns Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:46:00

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Budgeting For Your Closet

4/5/2024
How much of your money do you spend on the clothes in your closet? Now what about your time? In other words, how much time do you spend staring into the abyss of your wardrobe? One study says that over the course of her lifetime, a woman will spend a full year in front of her closet from age 16 to 60, just deciding what to wear. And this doesn’t include all of the other time we’re supposed to spend making our closets more manageable and our wardrobes more streamlined. Kim France says it’s time to ditch ALL the rules, and start organizing our closets with more intention. She explains how we can prioritize the fashion rules that work for us, so we can stop staring into a full closet feeling like we have nothing to wear. Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Takeaways: Learn how to curate a wardrobe that resonates with who you are, not just what's in vogue. Discover why Kim challenges the conventional wisdom of wardrobe purging. Comfort is king in Kim's fashion rulebook. She shares how prioritizing comfort can lead to a more authentic and enjoyable dressing experience, and why it's okay to let go of those "excitement pieces" that don't feel right anymore. Chapters: 00:00:00: News you can use 00:06:33: Kim France's Entry into Fashion and Philosophy on Getting Dressed 00:08:12: The Evolution of Kim's Fashion Philosophy 00:09:23: Evaluating Worthwhile Clothing Investments 00:14:05: The Process and Goal of Editing Your Closet 00:22:31: The Importance of Comfort in Fashion Choices 00:24:03: Kim France's Future Ambitions and Lifestyle Goals The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:29:43

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Ep 417: Why MLMs Love To Target Women

4/3/2024
Have you ever gotten a message on Facebook that looks something like this? “HEY GIRL, I HAVEN’T SEEN YOU IN A WHILE, YOU LOOK AMAAAAZING. DO YOU WANT TO LOOK EVEN BETTER AT YOUR NEXT EVENT? BUY MY MASCARA AND I’LL THROW IN A FREE GIFT. BUT HURRY, SALE ENDS AT MIDNIGHT.” Yeah…those messages. While it may be easy to brush these off, roll our eyes, and hit delete, a surprising number of women in America are caught up in these businesses, known as multi-level marketing schemes, or MLMs. In today's episode, Jean talks to Jane Marie, author of Selling the Dream: The Billion Dollar Industry Bankrupting Americans about why MLMs target women specifically, the signs to look out for to know if you’re being targeted by one, and what to do next if you’ve already lost money. In Mailbag, a listener asks how to find the best low-cost brokerage account, and we do the math on whether ‘becoming a millionaire by retirement’ is feasible for everyone. In our news of the week, we talk about Donald Trump’s new stock, the end of swipe fees on Visa and Mastercard, and the passing of behavioral economist Daniel Kahneman. Takeaways: MLMs often target women, offering them the opportunity to work on their own schedule and make money from home. However, the vast majority of participants in MLMs make little to no money and end up losing money. The Federal Trade Commission (FTC) is responsible for regulating MLMs, but their resources are limited, and MLMs often fly under their radar. It is important for individuals to report their negative experiences with MLMs to the FTC. MLMs continue to evolve and adapt, with new schemes constantly emerging. It is crucial for individuals to be vigilant and skeptical of any business opportunity that involves recruiting others and promises easy money. Chapters: 00:00:00: Introduction to the podcast and the topic of MLMs 00:10:03: Introduction of guest Jane Marie 00:15:23: The nature of MLMs today 00:18:49: The appeal of MLMs to individuals 00:21:17: The cycle of investment and loss in MLMs 00:23:59: The reality of income in MLMs 00:25:49: Why MLMs target women 00:30:51: The role of the FTC in regulating MLMs 00:32:51: Current trends and "flavors of the month" in MLMs 00:34:37: Jane Marie's hopes for the impact of her book "Selling the Dream" 00:37:13: Mailbag Join us! Snag all the latest episodes, savvy budgeting tips, investing advice and even giveaways via the HerMoney Newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:53:11

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Mailbag: How to get out of a bad property investment and manage your finances after a raise.

3/29/2024
In this special Mailbag edition, listener Anya seeks advice on a real estate investment dilemma. She and her partner have invested in pre-construction property, but the property value has fallen, leaving them with a significant shortfall. We also hear from Christa, who recently got a new job and a big raise (go Christa)! She’s wondering how to best invest the extra money she’s getting every paycheck. In our news of the week, the consequences of paying over the manufacturer’s suggested retail price (MSRP) for a car and why the price growth of the housing market has stabilized to pre-COVID levels. Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:37:06

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Ep 416: Get What You Want With Charles Duhigg

3/27/2024
Think about the conversations you have every day. There are the ones you have with your friends over coffee to catch up on life, the ones you have with a family member while walking the dog, and countless others throughout your week. While it may not seem like it, every conversation (yes, even the mundane ones!) is a negotiation, and once we have the skills to know which type of conversation we’re in, we can use every single conversation to better connect with those around us. That’s what Charles Duhigg argues in his new book “Supercommunicators: How to Unlock the Secret Language of Connection.” He shares the difference between the three different types of conversation, and why knowing which one we’re engaged in can make all the difference. In Mailbag, a listener asks about the red flags to look out for when choosing a high-interest savings account, and we hear from a retiree who’s wondering if they’re paying too much for private insurance. In our news of the week, we talk about what the Federal Reserve meeting last week means for your money. Additionally, we explore Unilever's decision to sell Ben & Jerry's, and how some families are handling the rising costs of storing frozen embryos. Takeaways: Every conversation is a negotiation, and understanding the different types of conversations can help improve communication. Asking questions and using techniques like looping for understanding can enhance connection and understanding in conversations. Acknowledging and embracing differences, including gender, can lead to more effective communication. Investing in relationships and conversations is crucial for long-term happiness and success. Chapters 00:00 News You Can Use 05:04 Different Types of Conversations 08:16 Neural Entrainment and Connection 12:34 Asking Questions and Looping for Understanding 30:02 Vulnerability and Gender in Communication 35:58 The Importance of Relationships and Conversations 36:48 Mailbag Join us! Snag all the latest episodes, savvy budgeting tips, investing advice and even giveaways via the HerMoney Newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:53:19

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Mailbag: I love my nonprofit job, but are they taking advantage of me?

3/22/2024
In this special Mailbag edition, listener Carolyne calls in to ask whether it’s time to leave the nonprofit job she’s had for more than three years. Her organization is facing major changes and challenges, and she’s unsure whether to stay and embrace the chaos or look for something else that offers more stability and better pay. In our news of the week, we break down why you should be aiming to get as close to $0 back on your tax refund as possible. If you already got a big return this year, Jean dishes on how you can make it happen next year. Head to https://www.irs.gov/individuals/tax-withholding-estimator to find out what your break-even point is. More money advice when you need it! Get the latest and greatest updates on all things investing, budgeting, and making money. Subscribe to the HerMoney newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:19:00

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Ep 415: How A Personal Finance Expert Fell For A Financial Scam With Charlotte Cowles

3/20/2024
When we envision the type of person who falls for a financial scam, there are usually a few key characteristics that come to mind:They may be elderly, using a landline phone, or in a state of panic as the person on the other end of the line informs them that if they don’t hand over $10,000 immediately, they’ll be arrested. But those stereotypes are just plain wrong. Charlotte Cowles, the Cut’s financial advice columnist and a longtime freelance business columnist for The New York Times, fell for an elaborate new scam that involved Amazon, the FTC, threatening her child, and handing a box with $50,000 in cash through the window of the backseat of a car. In Mailbag, we hear from a listener who’s wondering what the difference is between an hourly financial advisor and one that charges a flat fee. We also address how to shop around for title insurance when you're buying a home. In our news of the week, we talk about the big changes coming to the commissions we pay when we buy and sell homes, what the producer price index (or PPI) coming in hotter than expected means, and a new study about how Americans are feeling about their finances. Takeaways: Younger adults are more likely to fall for online scams. Scammers use psychological tactics such as authority and isolation to manipulate their victims. Talking about scams and sharing experiences can help prevent others from falling victim. If something seems too good to be true, trust your gut and question it. Be cautious of phone calls or messages from unknown sources and verify information independently. Report scams to the appropriate authorities and seek support from trusted friends or family members. Chapters: 00:00 News You Can Use 6:43 Charlotte's experience 12:15 Psychological tactics used by scammers 28:32 Red flags to look out for if you think you’re being scammed 32:43 Mailbag with Julia Chatzky Join us! Snag all the latest episodes, savvy budgeting tips, investing advice and even giveaways via the HerMoney Newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:47:37

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Ep 414: Retire On Your Own Terms With Anne Lester

3/13/2024
We’ve been thinking a lot about “Peak 65” over here at HerMoney HQ. If you haven’t heard about it, it’s the fact that more people are turning 65 starting this year than at any other point in history. That’s important because this age shift is going to have a huge impact on everything, including our economy, Social Security, the upcoming election, and especially on retirement. Anne Lester, former head of retirement solutions for J.P. Morgan Asset Management Solution Group wants everyone to know that planning for retirement doesn’t have to be so scary — it can be empowering and, yes, even fun. In her new book: “Your Best Financial Life: Save Smart Now for the Future You Want” she talks about how she finally broke free from living paycheck-to-paycheck, and was able to retire early on her terms. In Mailbag, we hear from a listener who is wondering if they should stay at a job they don’t love for the excellent retirement benefits. In our money tip of the week, with Mint shutting down in less than two weeks, here are the other budgeting apps we recommend. Join us! Snag all the latest episodes, savvy budgeting tips, investing advice and even giveaways via the HerMoney Newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Duration:00:49:06