Women own less, save less, carry more debt, and are less financially literate than men. That changes now.
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We asked you to vote on a question you’d like answered. The winner was:
How can I reduce my spending without making drastic cuts to my budget?
FEATURED EXPERT:
Sahirenys Ortega Pierce
Personal finance influencer and educator
The first adjustment you can make is dealing with food waste head-on. The average American family of four wastes about $1,500 a year on uneaten food, that’s about one-third of all food bought. A great way to help reduce this food waste is to have a meal plan before going grocery shopping. I personally use apps like Flipp to look up my local grocery store ads, create a meal plan incorporating items that are on sale, and meal prep on Sundays. Because I am a busy mom, I only meal prep for three days of the week and create an additional meal plan for the rest of the week to help me avoid picking up fast food. This strategy has helped my family save hundreds of dollars during our debt-free journey, during the pandemic, and now during times of high inflation.
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.
“My fiancé and I recently got a financial planner. Now, we have a plan for paying off our credit cards, working on our student loan debt, and saving for a down payment on a house in four years or less.”
— Cheyenne B (PA). Even if you have multiple financial priorities, you *can* balance them all. Sometimes with a little help from a financial pro.
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.
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investment piece
The items celebs and influencers think are worth the big bucks.
Investing in your health can cost more than just your time and energy, but for Emma Rosenblum, spending $$$ to stay in shape is worth it. Below, the author of “Bad Summer People” and chief content officer at Bustle Digital Group, tells us about an investment she made in her fitness to stay on top of her game.
Tell us about a recent purchase you made that felt like an investment.
I’ve just ordered the limited edition Wilson US Open Clash 100 V2 Tennis Racket. I already own a Clash — I think it’s the best racket on the market, particularly for women — but this is a beautiful new version, and the white and blue design is so chic.
How much did you spend on it?
The racket costs $269, but with shipping and stringing, it will come out to over $300.
Why do you consider it a good investment?
I don’t buy that much “stuff.” We mostly spend on housing and childcare (nanny and private school). When I splurge it’s on tennis: lessons, clinics, gear. Fitness is a great investment, especially as you get older, and I look at tennis as a way to stay in shape and have fun.
Answers are edited and condensed for clarity.
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