Skimm Money·

Skimm Money: Spending, Buying Happiness, and Unsubbing to Save

Women own less, save less, carry more debt, and are less financially literate than men. That changes now.

follow the money

How the news affects your finances.

woman in store looking with concern at receipt


Inflation is eating away at Americans’ spending power and our savings are dwindling. But we haven’t hit the brakes on spending. Plus, with student loan payments coming back in full swing soon, and the average millennial credit card debt (for Credit Karma members) sitting at $6,959, it’s starting to feel like the economy — and our finances — are reaching a fever pitch. But inflation might not be the only culprit when it comes to dollars flying out of your account. Enter: Lifestyle creep, aka when you start spending more $$$ because you’re making more money.

Your move:

  • Bring down major expenses. Think: Housing, food, and transportation costs. If you’re able to, taking drastic measures like relocating to a city with a lower cost of living or finding a roommate can add up to serious savings.

  • Level up your income. Negotiate for better pay at work or develop other sources of $$$ (hi, side hustles and passive income). The extra cash could help you enjoy your current lifestyle and reach your money goals. 

  • Keep your eye on the ball. Evaluate your overall financial health and check in on your long-term money goals regularly. Ex: Contributing to your retirement fund (hey, 401(k)) or saving for a down payment on a home.

for the group chat

The money stories everyone’s talking about.

California's state senate just passed a first-of-its-kind bill...

Prohibiting caste-based discrimination in the workplace and housing.

Who’s literally building America up right now?

Women who are filling more and more construction jobs.

Money can buy happiness…

But the price depends on where you live.

If you want to retire with $1 million in the bank…

Start saving regularly by this age.

market update

The Wall Street trends to know this week.

All eyes are on Apple this week as it is set to unveil the new iPhone 15. Last week, the tech company’s market value fell by $200 billion and its share price dropped more than 3% after reports of Chinese government agencies and companies being instructed not to use iPhones at work started circulating. With US consumer confidence waning, new iPhone sales could be an important indicator for the markets moving into Q4.

5-minute money tip

Small step now, big payoff later.

woman holding coffee and looking at phone

Unsubscribe from marketing emails.

Trying to spend less? Remove the temptation to go on a shopping spree by preventing sales emails from hitting your inbox in the first place. Pro tip: Set up rules and filters for your inbox to flag incoming marketing emails. That way, they’ll be easier to sort through and you can hit that unsubscribe button. Psst…here are more tips to make unsubscribing easier.

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