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Skimm Money

Pacifier

How Low Birth Rates Could Affect Your Wallet

Here's what Americans having fewer babies could mean for your money.

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Skimm'tionary

Money things to know.


Economic indicator

A stat used to gauge the country's financial health. Think: unemployment, GDP, inflation, and sometimes stocks. Some argue that good times for the stock market = economic good times. But stocks have hit record highs during the pandemic. Despite...everything. Proving that stocks can climb even when the economy drags.

Black Tax

The cost of being Black in America. In homeownership, it's Black homeowners paying an average of $13K+ over the life of a mortgage loan vs. white homeowners. In banking, it’s paying $7 more in monthly fees than white account holders. And at home, it can look like an expectation to help family members financially. Add it all up and you get a huge barrier to building wealth.

Millennial Wealth Gap

The gap experts have identified between the "millennial rich" and "millennial poor." In homeownership, one report says more millennials purchased homes than any other generation in 2020. But more millennials also said they feel like they’ll never be homeowners. The difference between those groups? Usually race.

Shecession

A not-so-fun name for the economic and job market downturn. Because women – especially women of color – have been disproportionately affected.

Motherhood Penalty

The price some women pay for adding “mom” to their resume. Mothers were already less likely than other women to get job offers and fair wages pre-pandemic. Now it could get worse as women leave the workforce to deal with pressures at home. Potentially paving the way for more missed promotions and raises and lower retirement account balances.

Stimulus Package

A life raft the government throws the economy when it’s in danger of drowning. So far through this pandemic, lawmakers have passed three. Each including extra unemployment benefits and direct payments.

Unemployment Insurance

Also goes by “unemployment benefits” or just “unemployment.” It’s money you can temporarily get from the gov when you lose your job. Thanks to the latest stimulus package, everyone’s checks will be $300 bigger than usual for a few months.

Carmen Rita Wong

Weekly Career Podcast

Skimm'd from the Couch: Carmen Rita Wong

"People say, 'Oh, this door closed. This door closed.' And I'd be like, 'Well, I'll take a chainsaw and make a door.'”

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