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How to Recover Financially from Wedding Season (+ Plan for the Next One)

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How to Recover Financially from Wedding Season (+ Plan for the Next One)

Weddings are expensive. In 2018, the average cost of being a bridesmaid was $1,500. When you add up the cost of the travel, gifts, bachelorette party, and dress—and multiply it across multiple friends -that is a huge chunk of change.

These are big expenses that can hit all in one paycheck and make cash flow tight. If you’re feeling the financial hangover from a banging wedding season, we’ve got you covered with seven steps to recover and plan to make the next wedding season go a whole lot more smoothly.

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529 Plans - Everything You Need to Know

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529 Plans - Everything You Need to Know

If paying for your child’s college education is one of your financial goals (and even if it’s not), you’ve probably heard you should start saving in a 529 plan. Here’s the lowdown on 529 plans - what they are, their benefits, their potential downsides, and how much you (generally) want to be putting aside for your child’s (or future child’s) education.

Create Your Rainy Day Fund

Create Your Rainy Day Fund

A rainy day fund provides us with a lot more than cash in case of an emergency. It gives us freedom to make choices, take risks, and have peace of mind, and it leaves space for creativity.

For most of us, a rainy day fund is the first savings goal on our list. It protects us in case something unexpected comes up so we don’t have to put it on a credit card (and pay high interest rates) or borrow from elsewhere.  

Despite the practicality of a rainy day fund, so few of us have them. How do I know? The average American has less than $400 saved, at any age. That means the average Amercian has very little to no rainy day fund. 

Here’s what you need to know to get started. 

The Worst Day of My First Internship: Pay Day

The Worst Day of My First Internship: Pay Day

When I got an investment banking internship, I was SO excited about my future paychecks. At the time, interns made the same salary as a first year analyst, prorated for the amount of time we worked. So I divided $60,000 by 12 to figure out what I’d earn each month. $5,000 - wow, great!

I thought, “Yay! I am going to save so much money this summer!” Just kidding. Let’s be real. I didn’t think about saving at all. I thought, “this is going to be the most fun summer ever!”

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Financial Wellness: Pay Gaps & Salary Negotiation

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Financial Wellness: Pay Gaps & Salary Negotiation

Compensation conversations can be really hard to initiate – (and women are four times less likely to negotiate their salaries than men!) We might try to avoid them or put them off for later. We convince ourselves that our companies don’t give real raises, or we worry that we’ll get turned down because we’re not worth it. Here’s what you can do to prepare for and execute a negotiation confidently.

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Women are investing less than men: What to know about the gender savings gap

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Women are investing less than men: What to know about the gender savings gap

The gender pay gap -- in which women on average earn 80 cents to every $1 earned by men -- is a penalty women see, and feel, directly in their paychecks.

The gender savings gap, in which women traditionally invest and save less than men, is a hidden penalty that also hurts women, many of whom don't realize it until it's too late.

What Employee Financial Unwellness Is Costing Companies

What Employee Financial Unwellness Is Costing Companies

Financial wellness means being in a place where you are spending and saving your money thoughtfully, where your behaviors and thinking around your personal finances contribute positively to your short-term and long-term goals. In our money journeys, we’re always working towards more powerful thinking about our finances, which leads to less stress, and ultimately, more wealth. Being in a state of financial wellness also means that a big, unexpected expense (like a hospital bill or other emergency) wouldn’t completely derail us. If we’re financially well, we’re more equipped to handle unanticipated events and their costs.