Move aside, boomerang employees and quiet quitting. There’s a new controversial career trend making the rounds: Job shopping. Aka applying to jobs you might not really be interested in so you can use a competing offer as leverage to get a raise from your current employer. As you’ve probably guessed, this strategy has its pros and cons.
Be aware of the risks. There’s no guarantee your current employer will match a competing offer. Be prepared to negotiate and compromise, or walk away and potentially accept that other offer.
Make sure $$$ isn’t your only motive. Because money alone won’t fix a toxic work environment or a lack of advancement opportunities. Keep your longer-term career goals in mind.
Know your worth. Research the average pay range for your role and be prepared to speak to your accomplishments. Psst…bring those receipts to any salary negotiation convo.
Negotiate, negotiate, negotiate. And don’t forget about your benefits. If your current employer won’t budge on your salary, consider negotiating for more PTO or WFH days.
Put yourself first. If you’re not getting what you deserve at your current 9-to-5, you might be better off as a job hopper vs. a job shopper.
Financial Goal Unlocked
The Goal: Plan a wedding on a budget.
A Winning Mindset: Saying ‘I do’ in front of your family and friends can be a huge financial undertaking.A survey conducted by The Knot found that the average wedding cost about $28,000 in 2021.But planning ahead and being flexible can help cut expenses.
A Winning Strategy…
Set a budget. Know how much you’re willing to spend before you start planning. Keep in mind that two expenses can take up nearly half of your budget: the venue and catering.
Be flexible. According to The Knot, Saturday is the most popular — and most expensive — wedding date. Having your nuptials on an “off” day could save you money.
Compare vendor prices. Some may offer a discount to bundle services, while others might be willing to negotiate. Get several quotes for each service (think: DJs, photographers, and caterers) to see who can give you the best deal.
Trim your guest list. Because every plate = more $$$. Plus, fewer attendees could also mean a smaller (read: less expensive) venue.
Plan for hidden costs. Prepare for things like giving cash tips to vendors or needing to buy a stain remover pen from Target.
Charge responsibly. Even the best planners can go over budget. Consider using a 0% APR interest credit card for wedding expenses. That way, you can pay your vendors on time without going into debt.
A wedding can be expensive. But it doesn’t have to break the bank or get in the way of your other financial goals (hello, down payment). Set a budget and stick to it to avoid starting your newlywed life in debt.
And Also This…
Who’s raising the roof…
Fannie Mae and Freddie Mac. The government-controlled housing finance companies will start backstopping mortgages over $1 million in high-cost markets where homeownership is becoming increasingly out of reach. Think: States like California and New York. Some housing policy experts worry these large loans are too big for the federal gov to get involved with. But others argue they’re necessary in markets where starter homes can easily go for $1 million.
What’s heading to the Supreme Court…
Student loan forgiveness. The justices will hear arguments in February and could make a decision as soon as June 2023. ICYMI, President Biden’s student loan forgiveness plan hangs in the balance after almost 26 million borrowers have already applied.In the meantime, Biden extended the pause on student loan payments until at least June 30, 2023.
What could be costing you big time…
Evolution. According to some psychologists, fear of loss is hardwired into the human psyche. Which is not ideal for those of us trying to ride out the rollercoaster that is the stock market and build. that. wealth.
Who’s going through a tough breakup…
What's getting a post-pandemic makeover…
What’s drying up…
Tell Us How You Really Feel: Inflation is driving up the price of everything from Christmas trees to rent. It’s giving “The Grinch Who Stole Christmas.” So we want to know: How is inflation impacting your holiday spending? Tell us here.
A few weeks ago, we wanted your thoughts on student loan forgiveness being tied up in the courts. Here’s what you shared…
"It sucks. I was impacted by Hurricane Ian and had to purchase a new car that wasn’t budgeted for, AND I’m in the market to buy a house and get married. I completely understand that I am responsible for my student loan payments, but it is such a gut punch that I was offered forgiveness, applied, and now may not get it. It feels impossible for people in my generation (90s babies) to get by, much less THRIVE in today’s economy." — Lindsay S, Naples, FL
"My husband and I were absolutely counting on student loan forgiveness. That was a leading factor in what helped us determine that we could officially purchase our first home. We are now extremely nervous and disheartened by the block. We're not sure if we'll be able to afford an extra $1,000 monthly student loan payment come January." — Erica P,Oakdale, MN
“I paid my loans down to $10,000 during the payment pause, but I was never banking on forgiveness. In light of the recent legal challenges, I am considering paying the remainder off so that I can be debt-free and move on to new financial goals!” — Raine T, Goldsboro, NC
Answers have been edited for length and clarity.
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