editor's note
TGIF. As we all know, $100 doesn’t go far at the grocery store these days. If, like me, you’re also spending a fortune at checkout, allow me to introduce you to the best TikTok series I’ve seen yet. Meet one savvy shopper’s guide to turning $50 of Trader Joe’s groceries into a week’s worth of healthy meals. But, while some of us are trying to stretch our grocery budget, others are spending $780 on luxury strawberries. One upside to shopping for bargains at Costco? This $2.99 secret menu beverage. You’re welcome.
— Megan Beauchamp / Senior Editor / Los Angeles, CA
ask an expert
Get answers straight from the career and finance pros.
We asked you to vote on a question you'd like answered. The winner was:
What's the best way to approach paying off debt?
FEATURED EXPERT:
Anne Lester
Retirement expert and author of “Your Best Financial Life”
The guiding principle should be to pay off high-interest debt as quickly as possible. I think the way to do that with the least brain damage is to just focus on paying off the debt with the highest interest rate first, and then making minimum payments on the next-lowest rate debt until that first debt is cleared.
When it comes to whether or not consolidation makes sense, it's going to depend on your specific circumstances and interest rates. If you have low-interest debt like federal student loans (and by low I mean anything below 8%) pay the minimum on that, and don't worry about it for a while. Get the stuff that's at 25% or 30% interest, and pay it off as fast as you can.
This interview has been edited and condensed for clarity. You can read an extended version here.
money win
An inside look at how women are building wealth.
“After my dad died four years ago, I became a compulsive shopper as a coping mechanism to deal with my depression. After racking up a hefty balance, I got serious about cutting back and getting out of debt. I transferred my high-interest balance to another credit card that offered a low balance transfer rate. After making regular monthly payments and applying most of my tax refund, my balance is now half of what it once was. I’m also only using cash for gift purchases now and not mindlessly charging things.”
— Cindy M (IN). Kind reminder: Financial health goes beyond your wallet. Overspending could mean it’s time for a money mindset check-in.
Scored a raise, saved up for a big purchase, or reached another money goal? Tell us about it here. Quotes are edited and condensed for clarity.
for the group chat
The money stories everyone’s talking about.
Guilty of buying dupes of ingredients you already have in your pantry?
This simple shopping hack will help you avoid buying yet another expensive spice.
Gen Zers want to make six-figure salaries…
So they’re ditching college degrees and becoming the “toolbelt generation.”
For anyone who can’t get past “just a few pointers” from their boss…
Here’s a helpful guide to dealing with criticism at work without spiraling.
Ordering delivery from Uber Eats, DoorDash, and Grubhub is $$$...
Which probably has you wondering: Why are fees are so damn high?
action items
How to win at work, according to successful women.
As a psychiatrist who specializes in maternal mental health and as a working parent herself, Pooja Lakshmin, MD, knows that long baths are nice. But she also knows that they aren’t the be-all, end-all to solving work-related stress. Here, the author of “Real Self-Care” shares her advice for more effectively dealing with the not-so-good feelings that can come up at work.
Advice for what to do when you…
Feel stuck…
External problems often have internal fixes. Focus on the factors that are in your control: effort, attitude, and concentration. You will either validate your concerns or get promoted.
Need a confidence boost…
Keep a hype file to refer back to past wins and nice things people have said about you. Remember things happen for you, not to you.
Fail…
Often, failure means you were trying to fit a circle into a square or you weren’t being supported properly. Grieve, vent, and pick yourself back up.
Are nearing burnout…
Burnout often results when people haven’t prioritized real self-care. It’s hard to establish boundaries, which is the foundation of self-care. It’s a muscle we all need to build.
Want to unwind after a stressful day…
Walking the indoor track at my local YMCA, while listening to my favorite podcast or Spotify playlist.
This interview has been edited and condensed for clarity. You can read an extended version here.
theskimm: here's what's next
theSkimm helps you tackle your to-do lists, whether you're refinancing your loans or choosing a daycare for the first time. We talk to experts and real women to empower you to make decisions faster and with more confidence. Check out our guides to get started.
PS: Your feedback makes a big impact. Let us know what you like, what could be improved, and most importantly, if we helped you get sh*t done. Share your thoughts.
Subscribe to Skimm Money
Your source for the biggest financial headlines and trends, and how they affect your wallet.