Money Musings 💭 join me for my wild ride 🤪
You might have heard that I’m working on writing my next book. And my, oh my, it’s been challenging. 😱
📚 My first book, The 30-Day Money Cleanse, was so much easier to write. After 5 years of teaching my successful 30-Day Money Cleanse program, I was turning it into a book. It just flowed out of me.
This time almost all the content is new.
📚 In The 30-Day Money Cleanse I cited research and other experts but the content came from my perspective and my experience working with people who had gone through the program.
This time I’m interviewing incredible experts (I can’t wait to tell you who!) and am learning so much along the way. 🤯
📚. The 30-Day Money Cleanse was a no-judgment, shame-free book but I didn’t address privilege and the injustices and inequities in our financial systems.
This time, I’m committed to writing an inclusive book and my sensitivity editor, Dr. Cadet is helping me do that. 🙏
📚. I wrote the first draft of The 30-Day Money Cleanse before my first son, E, was born because I had no idea what was in store for me once he arrived.
This time, I wrote the proposal before baby M was born and am trying to write the first draft while navigating parenting two kids under four during a pandemic. 🤪
📚. When I wrote The 30-Day Money Cleanse, I didn’t share much of my journey along the way because I was completely terrified of becoming an author and having my book out in the world. I wanted you to know about it but I also wanted to hide. 🙈
This time, I promise to take you along for the wild ride and to share in the joy and success of this book because I couldn’t do it without you. 🤗
What would you like to know about my book process? Anything else you’re curious about? Please tell me! Hit reply and let me know.
MONEY MOVE OF THE WEEK
LAY OUT YOUR SMART GOALS FOR 2021.
If we really want to achieve our goals, we want to make them SMART: Specific, Measurable, Attainable, Relevant, and Time Bound. If your goal is to save more money in 2021 (who doesn’t?!), answer these questions to make it SMART.
Specific: How much do you want to save?
Measurable: Will you know when you achieve it? Luckily with numbers, the answer is yes!
Attainable: Is it possible? Can you reach this goal? Is the outcome in your control?
Relevant: Are you motivated by this goal? Is it worthwhile?
Time Bound: By when will you achieve it?
“I’m going to save more in 2021” becomes “I’m going to save $250 per month in 2021 so that I’ll have $3,000 at the end of the year!” It even sounds more powerful! 👊
YOU GOTTA SEE THIS
THE PINK TAX.
The pink tax is the name given to the pervasive price hike on products marketed towards women. 🤬 This discrepancy applies to everything including clothes, toys (yes, it starts young!), and healthcare products. According to the New York City Department of Consumer Affairs, women’s personal care products cost 13% more than the equivalent men’s products and are actually smaller in volume. 🙄
The pink tax costs the average woman $1,300 per year. If we invested that amount annually in the market, that would be almost $75,000 in 20 years.
What can we do about it? Lucky for us, Professor Elizabeth Grauerholz co-wrote an entire research paper about it. She recommends trying to support companies who support gender neutral pricing, buying more gender neutral products (when possible), comparing prices, spreading the word when you see unfair pricing, and contacting your state representatives to support legislation on fair pricing.
While our consumer activism can have a substantial impact, she says “the burden shouldn’t rest on the individual consumer to force change. It’s important for communities and states to enact policies dictating fair pricing.”