Happy last weekend in July, everyone! It’s time for another roundup of articles from the week I think you’ll love! As well as an update on what’s going on here at CMO Central.
Today we’ve got a debate on financial advice for women, cord cutting, retirement savings, best employers for women, peer to peer lending, and a discussion as to whether we should talk about our salaries. Plus, of course, a roundup of where you can find me this week (another HUGE feature!). What’s going on around here, and a “last call” for Plutus and Fincon. Let’s get started!
Do women really need financial advice for women? This was the debate sparked by Kerry Hannon in Forbes. Apparently Worth FM, an online robo adviser for women, recently closed. A Next Avenue editor posted his disappointment on his Facebook page, where he was then pummeled by female personal finance journalists.
I put this question out to my Twitter fam to see what they thought, and got some interesting responses from Ms. Steward from How We Do Money, Sunday Brunch Cafe, Ms. Zi You, and Lisa Bennett of Workforce Millionaire.
I found this article interesting. Planning to feature it with some thoughts on Saturday.
What do you all think? https://t.co/LISMg2QWqp
— Chief Mom Officer (@LizOfficer) July 25, 2018
The responses were essentially the same as the thoughts in the article. Women need advice that take their realities into account, but not necessarily advice just for them. Let me know in the comments what you think!
Have you cut the cable cord? Apparently the cord cutter army is growing according to this article on LinkedIn, so you’re part of an increasing trend. We’ve been cable-free as a family for almost a decade now, and with the increase of streaming quality, haven’t looked back. I have a articles about our cord cutting story, and top tips to cut the cord and overcome objections, if you’re interested in making the switch yourself.
Women are saving half as much for retirement as men, according to a new survey from Student Loan Hero. Psst – did you hear the news that Student Loan Hero was bought by Lending Tree recently? Unfortunately this headline talks about the absolute dollar amount of savings, rather than saving as a percentage of income. You can’t tell if this is due to factors like women having less average income than the men in the survey,. Or what the median time off work for these women was, how long they’ve been in their careers, and so on. Digging into the article, what you can see is that less women have access to a retirement plan in the first place,
Forbes released its list of the best employers for women. It’s interesting to check to see how your company, and industry, stacks up.
Is peer to peer lending dead? Josh Overmyer posted an interesting story about why he’s getting out of peer to peer lending. His story is one I’ve heard again and again, that the high returns originally seen with these P2P lenders are fading among high default rates. It will be interesting to see if the industry recovers. I always stayed away from these because they seemed too risky for me. Anything with high returns comes with high risk.
Should we talk about our salaries more? The 76k Project posted an interesting article on whether or not we should overcome this last taboo. She talks about how terms like “middle class income” are meaningless (as I’ve mentioned before) and can be misleading. If only we could talk more about our exact salaries without fear of judgement and punishment! Our stories would be more accurate and transparent. And we would help others interested in our fields be paid what they’re worth.
CMO Around Town
First and foremost, I was featured again on Business Insider again giving my top tips around money! Also, I was apparently mentioned in this article on women breadwinners lying to the census – right below Farnoosh Torabi! I feel famous.
My article on the Debt Snowball, and why people should stop picking on Dave Ramsey, was also featured on this roundup.
This week was a busy one around here, although not for me as much as for my family. My oldest son is entering his sophomore year in high school, and had gotten an invite to a “visit a college” day in PA. We figured it would be a fun trip, and a good opportunity to get a jump start on college visits. Other parents of older kids have told us this is a good idea.
We just had a vacation last week, and I started a new role at work only a month ago. I couldn’t take the two days off to make the trip. So my husband and the boys packed up and drove 5+ hours to check it out. They not only had a fun trip, but they got to learn about the school, visit an art museum, and eat ice cream. All in all it was a great idea!
Last call for Plutus award nominations! They close on Tuesday. Also the price of FinCon is going up soon, so if you’d like to join a few thousand money-minded folks for fun in Orlando pick up your ticket here! I’m going to be speaking at a breakout on Saturday and I’d love for you to come by.
The FinCon link is an affiliate link, so if you join me, I’ll get a small commission at no cost to you.
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