editor's note
Happy Friday. In news that no one will find shocking, home prices are insanely higher than they were 60 years ago. And they’re particularly wild in Los Angeles, where my husband and I are looking to buy our first house. See: This stunning $4 million Spanish-style home that, sadly, is way beyond our budget. Sigh. Maybe we should just move to one of the places on this list of countries with better work-life balance instead. Excuse me while I daydream about moving to Brazil and visiting unbelievably beautiful places like this.
— Megan Beauchamp / Senior Editor / Los Angeles, CA
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We asked you to vote on a question you'd like answered. The winner was:
What’s the #1 thing I can do to reach financial independence?
FEATURED EXPERT:
Kiersten Saunders
Cofounder of Rich & Regular and coauthor of “Cashing Out”
This is going to sound very obvious, but it’s to spend less than you make. That way, you can put your money to work by investing it. Because once you spend your money, it’s gone. Once you invest it, it can actually grow. It’s also important that you understand investing and how it works for your goals. There’s a benefit to starting young: The younger you are, the riskier you can be. For example, if you’re 19 and you want to take a chance on crypto, the worst-case scenario is that you lose the money that you put into that coin or that asset. If you're 40, your worst-case scenario might be that you can't retire on time or that you're not able to buy a house. Understanding where you are in your risk cycle and how much you can afford to lose is also a really important part of investing.
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.
“I have quite a bit of money in savings because my husband and I are, eventually, going to buy a house. With mortgage rates high right now, we aren't ready to buy just yet. So my money was sitting in a savings account earning pennies a year in interest. I opened a few CDs and, last year alone, made $1,500 in interest.”
— Jessica R (IL). This is your sign to make sure your money’s making money for you.
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.
Plot twist…
Gen Z actually (kind of) loves the office.
“$506 later. Did I get ripped off?”
Prices at hair salons are getting out of control.
If the FIRE movement sounds too extreme…
Maybe you should FILE your way into (semi)retirement instead.
Want to nail a job interview?
Try the 7-38-55 rule.
action items
How to win at work, according to successful women.
Trinity Mouzon Wofford is the cofounder of Golde, a wellness company that creates feel-good blends of collagen powders, matcha lattes, and more. And while a matcha latte is a great go-to boost for anyone trying to make the most of their 9-to-5, it can’t do all the hard work. Here, Mouzon Wofford shares advice for how to focus at work, prep (but not over-prep) for a big meeting, and avoid burnout.
Advice for what to do when you…
Need to prep for an important meeting…
Do what you need to, and then relax. Don't overthink it. You're better off going into the meeting with a sense of calm than overprepared and anxious.
Have to give difficult feedback…
If you value the relationship, deliver it early and unemotionally. Don't let it fester.
Need to focus…
Put your phone and laptop on Do Not Disturb. I have notifications off pretty much all the time.
Are nearing burnout…
Change your scenery. Get out of town, read a book that isn't your “usual,” and cut out the screen time because it only numbs you.
Get your paycheck…
Auto-deposit a chunk into a savings account, and then try to forget it's there.
This interview has been edited and condensed for clarity. You can read an extended version here.
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Where we literally give you the words and steps you need to get things done.
Car Shopping? Here’s How to Get a Good Price
Getting the keys to a new car can feel like a dream. But signing the wrong contract can turn your purchase into a pricey nightmare. That’s why we created a car-buying script to help you negotiate.
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