HerMoney with Jean Chatzky Jean Chatzky Her Money

Here’s one thing we know — America runs on women – our paid work, our caregiving work, and our invisible work keeps the country going — and it’s taking its toll. According to the American Psychological Association’s 2023 Stress in America survey, women say they’re feeling stressed, misunderstood, and alone. The survey also found that women were more likely to say they “strongly agree” that no one understands how stressed we are and we were less likely to report that we can get over our stressors quickly. 
Jessica Calarco is a sociologist who’s dedicated her life’s work to understanding how America got this way, despite being consistently ranked one of the wealthiest countries in the world. In her new book Holding It Together: How Women Became America’s Safety Net, she explains how our “DIY society” came to be and strategies for women to collectively come together to support each other in a country where caregiving falls mostly on our shoulders. 
In Mailbag, we hear from a listener who is looking for advice on how to handle her emotions in the workplace. We also hear from someone who’s in the running for a position with a pension and wants to know what the pros and cons are should she accept the job. 
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Chapters:
00:00:00: Introduction 
00:06:52: The Role of Women in Holding Society Together
00:14:49: Current Childcare Crisis and Its Implications
00:19:11: Gender Wage Gap and Household Labor Dynamics
00:26:51: Practical Steps for Individual Women to Improve Their Situations
00:29:57: Importance of Collective Action
00:30:34: Transition to Mailbag Segment

Takeaways: 

Women in America have become the safety net for families and communities, taking on the roles of caregivers and filling low-wage jobs.

The US is a DIY society where individuals are expected to solve their own problems rather than rely on the government or employers for support.

The lack of affordable childcare and the shift in employer benefits have put tremendous pressure on families, particularly women.

Marriage is not the key to financial success and can often trap women in difficult or dangerous relationships.

Solutions include advocating for affordable childcare, paid family leave, and other policies that support caregiving, as well as challenging mythical thinking and promoting collective action.


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.
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According to the 2024 World Happiness Survey, we’re pretty unhappy as a country this year. And although there are plenty of external reasons for us to be unhappy — sky-high costs at the grocery store, mortgage rates hovering around 7%, and credit card debt soaring – we’re all about controlling what we can control and that includes prioritizing our well-being over all else (no summertime sadness here). 
Stephanie Harrison, author of: “New Happy: Getting Happiness Right In a World That’s Got It Wrong,” feels that way too, so much so that she spent 10 years diving into the world of happiness research. Listen in to hear why the “Old Happy” is making us all miserable and why she believes the “New Happy” should be the framework we’re building our lives around instead. 

Chapters:
00:00:00: Introduction
00:02:58: The Concept of "New Happy" vs. "Old Happy"
00:07:11: The Role of Money in Happiness
00:12:08: Social Media's Impact on Happiness
00:19:39: Tactical Solutions for Creating a Happier Life
00:23:11: Finding a Job that Aligns with Your Gifts
00:25:44: Daily Shifts to Increase Happiness
00:27:30: Mailbag Segment 

Takeaways: 

The Old Happy tells us we need to achieve more, be perfect, and be hyper-independent. These expectations are unrealistic and make us miserable.

The New Happy involves discovering who you are and using your gifts to help others. This leads to personal growth, fulfillment, and creating happiness for others.

Money is necessary to fulfill our needs and create experiences of well-being, but the pursuit of more and more money does not lead to proportionate increases in happiness.

To find intrinsic goals that make you happier, consider safety, community, relationships, passions and interests, and personal growth.

Daily shifts to make yourself and others happier include looking for opportunities to help, recognizing the support you receive, and paying attention to people who are doing good in the world.


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

In 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.


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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

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

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