money·5 min read

Skimm Money: Revenge Travel, The Baby Formula Shortage, and Wildfires

May 20, 2022

Need inspo to ask for that raise? After a long battle with the US Soccer Federation, the US Women’s National Soccer Team won a game-changing contract to close the pay gap between them and the men’s team. Score.

Headlines, Skimm'd

  • Human resources. Some companies are stepping up their efforts to support employees who may be impacted by the Supreme Court’s looming decision on abortion rights. Amazon and Apple are among the employers committing to covering expenses for employees who need to cross state lines for abortions. Starbucks has made a similar pledge and is extending travel benefits to workers seeking gender-affirming procedures.

  • Out of stock. Thanks to supply chain issues, including a key plant’s closure, there’s a dire baby formula shortage. And the crisis is disproportionately impacting low-income families. In some good news, the closed plant is reopening.And the Biden admin is invoking the Defense Production Act to boost baby formula manufacturing. It’s also expediting the process of importing formula from other countries. Plus, two bills are in the works to help low-income families and speed up FDA inspections. 

  • Cooling off. The housing market is finally slowing down. The number of homes for sale went up at the end of April, according to Zillow. And the Biden admin released a plan to build more housing — especially more affordable options — over the next five years. But rising interest rates and home prices are still making home buying a challenge. The demand for mortgages is 15% lower this week compared with last year. 

Let’s Talk About…

Design: theSkimm | Photo: Getty Images

Revenge Travel

Aka the vacation you’ve been dreaming of. The problem: affording it. While many travelers are intentionally splurging — think: far-flung destinations or luxury accommodations — even basic summer vacays are more expensive. Airfares spiked almost 19% in April alone, gas is still priced at a premium, and food and dining costs are also flying high.

But that doesn’t mean you can’t afford to go OOO. Here are a few tips to help you get your revenge (travel):

Make Good (Money) Choices

Design: theSkimm | Photo: iStock

If you want to protect your home…

Know the risks. New data from the nonprofit First Street Foundation shows that 71.8 million homes in the US are currently at some level of wildfire risk. And that number will jump to 79.8 million by 2050. While data can’t stop a wildfire, it can help you see what preventative measures you need to take — and which homeowner’s insurance policy will be there for you — in the event of a disaster. Learn how homeowner’s insurance works before you need it.

Crypto, Decoded

Cryptocurrencies shouldn’t be written off as digital fool’s gold — just ask our experts. Recap Future-Proofed: Closing the Crypto Gender Gap, led by crypto experts Laura Shin, Maggie Love, and Mags Kala. We Skimm’d everything from how women can get more involved in crypto investments to the risks, rewards, and opportunities of blockchain technology. It’s a rich woman’s world. Check it out.

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