Hi there. It’s officially Women’s History Month. And although we celebrate women all year long, we put together a special tribute to honor a few MVPs in the money world who are making history now. Cheers (with an RBG mug) to that.
The recovery is real? GDP growth could hit 10% in Q1, according to a Federal Reserve tracker. February’s jobs report also looks (somewhat) promising: the US added 379K jobs last month vs. the projected 210K. But we're still down about 9.5M jobs since February 2020. And unemployment for Black workers continued to rise.
Stimulus, but not like that. The proposed $1.9T relief plan is undergoing changes in the Senate. Think: lower income limits for direct payments and no minimum-wage hike. Although the latter is still being considered as separate legislation. Here's how a higher minimum wage could affect your wallet.
A match made in vaccine heaven. Merck and Johnson & Johnson – typically rival pharma companies – are working together to help speed up the nation’s vaccine rollout. President Joe Biden says the partnership means enough doses for every adult in the US by the end of May.
Wall Street's BUZZ. A new ETF (ticker symbol: BUZZ) hit the market yesterday. Its goal: analyze social media to create an investment fund with the 75 most hyped stocks (worth at least $5B). Current holdings: Twitter, DraftKings, Ford. But not Reddit fav GameStop.
Gender equality at work is slipping. Maybe back to 2017 levels, based on one measure that takes into account unemployment, labor force participation, pay gaps, and more. Not the throwback we needed.
If you want to celebrate Women's History Month with your wallet...
Start with your takeout. And chew on this: female chefs reportedly earn 28% less in base pay than men. You can help close the gap by supporting women-led restaurants in your community – a move that's just a click away on delivery platforms Grubhub and Seamless. Bonus idea: shop our fav products from women-owned brands that give back to women-centric causes. Women supporting women supporting women.
If you spent time WF(not your)H in 2020…
Factor in some extra time for tax prep. Because the longer you work from anywhere but your home state, the more likely it is you’ll have to pay taxes there. And for the many Americans who relocated during the pandemic, it means a more complicated tax situation. We Skimm’d what you need to know to get it right.
If you’ve been paying more for gas lately…
Download some apps to help with that. Because pain at the pump is real: the cost of gas has jumped an average of about 18 cents a gallon across the US in the last two weeks. And could keep rising. Other ways to cut fuel costs: use a gas rewards credit card, keep your tires pumped up, and cruise at consistent speeds.
If you want to adopt better money habits...
Try these tricks from behavioral economists. One pro tip: you're more likely to hit a monthly savings goal if you break it up into small daily goals. Like $5/day vs. $150/month. Same same...but somehow feels different. Wanna learn more about how to train your brain to make smart financial decisions? Sign up for our free SkimmU course on the psychology of money. Class starts at 8pm on March 25.
(LOGO - together with Walmart)
Raise your hand if you’ve been cooking more of your own meals lately. That might mean spending more on groceries. One way to keep those costs down? Keep track as you add to cart using the calculator app on your phone. Work backwards from a target total, so you know you’re staying within your budget. Psst...you can round up if the cents are slowing you down. Another way to save on groceries? Join Walmart+. You’ll get free, as-soon-as-same-day delivery from your local store whenever you spend over $35. So you can stock your house...without ever leaving it. Start your free 15-day trial now.
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Skimm'd by: Ivana Pino, Stacy Rapacon, and Elyse Steinhaus
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Feb 12 | Our special edition all about the "shecession." Plus, an exclusive interview with the VP on what lawmakers are doing to help.