Money Musings 💭 an important year-end ritual ✨
Next week we’ll say goodbye 👋 to 2020 and begin 2021. It’s been a rough year to say the least.
We had the pandemic, the worst economy since the great depression, unprecedented unemployment numbers, and the rollercoaster ride of the election. These events disproportionately affected BIPOC and womxn.
Despite all of that, I’m optimistic for what’s to come in 2021.
So much of what gets me excited about the New Year is the fresh start and planning for the future. But reflection is important too.
I’ve taken on the ritual of naming the highlights of the past year (even if sometimes in cases like 2020, it takes some digging to find them).
Bring family and friends in on the reflection too. What were your favorite parts of the year? Were there silver linings you didn’t expect? Small magical moments you got to enjoy? Or things you promise never to take for granted again?
What will you bring from 2020 with you into the next year? What will you leave behind? 🚫
Below are some of my highlights. It’s important to acknowledge that many of these highlights are made possible by my significant privilege.
While it was challenging for J and I to WFH with no childcare, it was a rare and special opportunity to get to spend so much time with E before his little brother arrived
I missed my friends and family terribly but there was something magical about not having anything to do or anywhere to be (especially while pregnant)
We got to welcome a new little munchkin to our family 👶
At the Fiscal Femme, we launched our Slack Community and it was really magical to see this incredible group of womxn and allies come together to support each other
We got to work with incredible personal finance companies that are creating new, innovative and accessible products that truly make our community’s financial lives better
Thousands of people from our Fiscal Femme community joined us for digital Money Parties 🥳
Protestors and the anti-racist community demanded racial justice. We have a long way to go but the voices, changes in leadership and changes made by companies have me hopeful our country is moving in the right direction (hopefully exponentially more quickly than before)
I had the opportunity to watch and learn from certain leaders on what it means to navigate change amid tumultuous times
We have a new president of the United States. No other words needed
The events of 2020 showed us how broken so many of our systems are and while that’s not a highlight in itself, the opportunity for us to do something about it, has me hopeful for the future
Separately, our dog Simi probably thought this was the best year on record since she spent zero time alone. 🤣
2020 was an INCREDIBLY challenging year, and it was far worse for some than others. If you had any highlights or special moments in 2020, I would love to hear about them.
I know that many have had absolutely devastating years where they’ve lost family members, friends and colleagues, have suffered job and income loss, experienced tremendous emotional stress, and are just trying to get by financially.
I in no way mean to minimize that struggle. If you have no highlights from 2020 or aren’t even able to go there, that’s completely understandable too.
MONEY MOVE OF THE WEEK
Know your credit score (but don't give it too much weight). Many of us use our credit scores as a proxy for our financial well-being. I wouldn’t go that far. Our credit scores reflect how risky lenders think it is to lend us money (i.e. how likely are we to pay them back?). Our score is based on whether or not we’ve made on-time payments, how long we’ve used credit, how much of our available credit we’re using (how maxed out our credit cards are) and how much debt we have overall.
A good credit score can provide us the opportunity to take out debt and give us lower interest rates when we do. It can take time to build a good credit score so it’s helpful to know what your score is and build from there. Many credit card 💳 companies now share your credit score online or you can use Credit Karma or Credit Sesame for a rundown of where you stand and how to get your score up.
YOU GOTTA SEE THIS
What we allow into our inboxes (and actually read) each morning or week matters. These emails can set the tone for our day, educate us, inspire us and teach us important things. That’s why I’m so grateful and excited that you choose to read the Money Musing and better your financial well-being each week. 🤗 I asked you what newsletters you read on a regular basis. Here are the newsletters I read each weekday:
Anti-Racism Daily: A daily lesson with news, actions and education to end racism in your community, office or university.
The Broadsheet: An amazing feminist newsletter about the latest happenings of the world’s most powerful women.
The Morning Brew: The latest business news in a fun and accessible tone each morning.