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Oh her net worth leaves quite an impression--multi-millions to be exact! Once upon a time at Coachella, Sabrina Carpenter famously quipped, “that’s that me espresso,” and from that moment on, she spent the rest of the summer boosting her fortune even further. With the song of the summer, a chart-topping album, multiple sponsorship deals, and a long-standing Disney career behind her, Sabrina is raking in serious money—and it’s time to take a closer look at her growing wealth. From Script to Screen: Sabrina's Earnings from Acting Sabrina’s been collecting acting paychecks since childhood, with guest roles on shows like Law & Order: SVU . However, her breakout came when she played Maya Hart on Girl Meets World . While her exact salary for the show isn’t publicly known, we do have some insight: back in 2014, TMZ reported that her co-star Rowan Blanchard made $10,000 per episode for the show’s 21-episode first season—totaling $210,000. It’s likely Sabrina was earning a similar figure. As for her future in acting, there’s a potential Alice in Wonderland  musical in the works! According to Forbes , Sabrina is producing the project, and reportedly sold it to Netflix for a seven-figure sum. No updates yet, but it seems like Sabrina is primed for a new kind of adventure. She's Working Late, Cuz She's a Singer: Sabrina's Breakout Dollars from Music Sabrina has been releasing hit songs for years, with Short n’ Sweet  marking her sixth studio album. However, her major payday seems to have come with her massive impact in 2024. While we don’t have the exact figures yet, her song “Espresso” has gone platinum, which likely earned her millions. And what about her income from opening for Taylor Swift on the Eras Tour ? Those details remain undisclosed, but considering she bought a luxurious mansion just before the tour ended, it’s safe to assume she made a significant amount. Similarly, we don’t know how much she was paid for her Coachella performance, but previous headliners like Kendrick Lamar, Radiohead, and Lady Gaga reportedly earned between $3 to $4 million for their sets, while Bad Bunny took home $5 million in 2023, and Beyoncé made between $8 to $12 million in 2018. Sabrina’s payday likely falls somewhere within that range. Her Honeybee: Sponsorships and Brand Deals Thanks to her skyrocketing fame, Sabrina has landed multiple sponsorship deals in 2024. These include partnerships with Van Leeuwen, Blank Street, SuperGoop, Marc Jacobs, and Skims, to name a few. Additionally, she was named Redken’s global brand ambassador. While her earnings from this deal haven’t been disclosed, these types of partnerships often bring in millions. Sabrina herself said, “Beauty, and especially my hair, is a big part of my identity,” in an interview with WWD  about the partnership. She added, “I’ve always dreamed of partnering with a hair brand and waited to find the right partner.” Heartbreak is One Thing, Real Estate is Another In December 2023, right in the middle of the Eras Tour , Sabrina purchased a stunning $4.4 million 1930s Spanish Colonial home in the Hollywood Hills. On top of that, Architectural Digest  reported that she owns a $1.7 million home in Northridge, which she purchased in 2018. So, What Is Sabrina Carpenter’s Total Net Worth? Sabrina’s net worth is currently estimated at $12 million, according to Celebrity Net Worth . However, this figure may not yet reflect the full earnings from her record-breaking summer—so keep an eye on that number as it’s likely to grow!

The experts share tips on cutting costs without sacrificing your dream wedding Planning a wedding can quickly become overwhelming as costs seem to skyrocket beyond expectations. Navigating these expenses can be challenging, and no one knows the financial landscape better than professional wedding planners, who handle these high prices regularly. “Frankly, the wedding industry is all over the place with costs,” says Kate Ford, a wedding and event planner based in California . It’s easy for couples to get in over their heads no matter what their budget is, she adds. “Talking about what to expect, and what’s realistic, is so important.” Here are a few tips wedding planners like Kate recommend to cut costs for your big day: 1. Skip the wedding party Eliminating bridesmaids and groomsmen can save you thousands. “You’ll cut costs on attire, gifts, hair and makeup services (averaging $300 per person), florals (about $175 per person), transportation, and more,” says Ford. Plus, your friends and family will have more time to relax and enjoy the day without being tied to wedding duties. It can also reduce wedding-related stress on friendships—something many bridesmaids can’t say. If you want loved ones involved but don’t want the full wedding party, there are many roles they can take without requiring matching outfits or walking down the aisle. They can join you for dress shopping, help you get ready, make a speech, do a reading, or assist with photos. These tasks are meaningful and don’t come with a hefty price tag. If someone is upset about not being in the wedding party, you can say, “We’re not having a formal wedding party, but I’d love for you to participate in another way. Your friendship and support mean so much to me.” 2. Enforce a no-plus-one policy “One of the best ways to control your wedding budget is managing the guest list,” says Jane Handel, owner of Jane Handles Weddings. More guests mean more rentals, food, flowers, staff, and stationery. To keep things intimate (and affordable), consider limiting or eliminating plus-ones. If someone asks if they can bring a guest, a polite response is, “We’re keeping our wedding small and aren’t allowing plus-ones, but we’re excited to celebrate with you.” For my own wedding, my spouse and I used a simple rule: if we hadn’t met the person, they weren’t invited. This approach saved us from meeting strangers on our big day, and most friends understood. Plus, having a few unattached guests can add a little intrigue to the evening! 3. Opt for a DJ over a band A live band can certainly elevate the vibe of your wedding, but it’s a costly choice. Quotes for bands can range from $25,000 to $30,000 or more. In contrast, DJs typically cost between $3,500 and $4,000. Plus, bands often come with extra expenses, like stages, lighting, and meals for the performers. If it’s a destination wedding, you may also need to cover their travel and accommodations. DJs are not only more budget-friendly, but they also usually provide the necessary sound equipment for your ceremony and cocktail hour. 4. Skip the traditional wedding cake (and favors) A gorgeous cake is nice but often goes uneaten. Consider going with a smaller display cake alongside a dessert table. A tiered wedding cake can cost over $1,000, while a simple one-tier cake from a local bakery can cost under $100—and might taste better too. You can also combine dessert with wedding favors. “Many guests leave traditional favors behind,” says Marie. A thoughtful to-go snack, like chocolates from a local shop or cookies made from a family recipe, is more likely to be appreciated. Or, you can skip favors altogether. When was the last time you cherished a wedding favor? Exactly. 5. Stick to one location “Having separate venues for the ceremony and reception increases costs,” Ford explains. Not only will you need transportation between locations, but it also adds time—meaning more hours for your photographer and videographer. You’ll also likely need extra flowers, decorations, and sound equipment, all of which can be avoided by using a single venue. 6. Skip the day-after brunch Farewell brunches can end up being a waste. The couple is exhausted, and many guests are too hungover to attend. In fact, 30-50% of guests who RSVP for a post-wedding brunch often don’t show up, according to Megan Grose, the owner of Brindle + Oak in Denver . If you want to say goodbye, let guests know you’ll be at a coffee shop or hanging out in the hotel lobby—but skip the formal event. You’ve already done enough! Final Thoughts It’s entirely possible to have a beautiful, memorable wedding without breaking the bank. By cutting costs where it matters, you can focus on what’s truly important: celebrating your love in a way that’s meaningful to you. Wedding experts agree—avoiding these common financial pitfalls can make your day both memorable and affordable.

The Hidden Cost of Being a Bridesmaid: Why Friends Are Going into Debt for Weddings — And How to Avoid It Being asked to be a bridesmaid is often seen as a testament to the closeness of a friendship. However, what many don’t anticipate is the hefty price tag that comes with it. From dresses and shoes to bachelorette parties, bridal showers, gifts, and travel expenses, the financial demands of being a bridesmaid can be overwhelming. With weddings becoming increasingly extravagant, bridesmaids are finding themselves in debt just to stand by their friend’s side on the big day. The Rising Costs of Being a Bridesmaid According to a 2022 survey by WeddingWire, the average bridesmaid spends around $1,200 per wedding. This figure includes costs such as dresses, hair and makeup, accessories, travel, and events like bridal showers and bachelorette parties. For destination weddings or out-of-town ceremonies, that number can easily double. Another study by Credit Karma revealed that 32% of bridesmaids had gone into debt to fulfill their role. It’s no wonder: with bachelorette parties becoming weekend getaways and bridesmaid dresses costing hundreds of dollars, it’s easy for these expenses to spiral out of control. Why Bridesmaids Are Feeling the Financial Pinch Weddings today are more elaborate than ever before. Many bridesmaids find themselves expected to participate in a wide range of pre-wedding events, each with its own associated costs. Bachelorette parties that once were a night out have evolved into multi-day trips, complete with airfare, accommodations, and group activities. Similarly, bridal showers often require purchasing a gift from a registry, decorations, or even pitching in for the event itself. Furthermore, bridesmaids are usually expected to cover their attire, including the dress (which can range from $150 to $400), shoes, hair, makeup, and sometimes even alterations. Depending on the location of the wedding, travel and accommodations can also add hundreds more to the overall expense. How to Avoid Bridesmaid Debt While it can be difficult to say no to a close friend, it's essential to manage your finances responsibly. Here are a few strategies to help you navigate the financial pressures of being a bridesmaid without going into debt: 1. Set a Budget Early On: Once you know you're going to be a bridesmaid, take time to create a realistic budget that includes all expected expenses, from the dress to travel and gifts. Don’t forget to account for any pre-wedding events like showers and bachelorette parties. Sticking to this budget will help you avoid unexpected costs down the road. 2. Communicate Openly with the Bride: If the costs are starting to add up and become unmanageable, don’t be afraid to have an honest conversation with the bride. Brides often have no idea how much their bridesmaids are spending. Letting her know your financial limits can help avoid misunderstandings. It’s okay to ask if you can opt out of certain expenses, like professionally done hair and makeup or attending a costly bachelorette trip. 3. Suggest Budget-Friendly Alternatives: If you’re on a tight budget, propose more affordable options. For example, instead of buying an expensive bridesmaid dress, ask if you can rent a dress or find one on sale. You can also suggest hosting a low-key bachelorette party locally instead of a destination weekend. Many brides are open to ideas that help make things easier for their friends. 4. Team Up with Other Bridesmaids: Sometimes, pooling resources with the other bridesmaids can help cut costs. For instance, you can split the costs of hosting a bridal shower or chip in together for a group gift. Coordinating with the other bridesmaids can also help reduce stress and create a support system for managing the financial responsibilities. 5. Prioritize the Important Events: You don’t have to attend every single pre-wedding event to be a good bridesmaid. If your schedule or budget doesn’t allow for it, prioritize the events that matter most. While it’s nice to attend the bachelorette weekend or bridal shower, it’s perfectly okay to sit one out, especially if it will help you stay within your budget. The Bride’s Role in Budgeting Costs While bridesmaids bear much of the financial burden, brides also have a role to play in keeping wedding costs under control for their friends. Here are some ways brides can help alleviate the financial stress for their bridesmaids: 1. Consider Less Expensive Attire: Choose dresses that are reasonably priced or give bridesmaids the option to pick their own dresses within a color scheme, allowing them to find something within their budget. Renting dresses or selecting styles that can be worn again are also great ways to save money. 2. Be Mindful of Event Costs: If you’re planning a bachelorette party or bridal shower, think about the financial commitments of your bridesmaids. Try to limit expensive activities and consider local, low-cost alternatives that are just as fun. 3. Keep Communication Open: Talk openly with your bridesmaids about the costs they’ll be expected to cover. Make sure they feel comfortable discussing their budget limitations, and be understanding if someone needs to scale back their participation in certain events. The Bottom Line Being a bridesmaid can be a wonderful experience, but it doesn’t have to come at the expense of your finances. By setting a budget, communicating with the bride, and being mindful of your spending, you can be part of your friend’s big day without going into debt. Brides, too, can help ensure their bridesmaids feel appreciated and supported by keeping costs reasonable and respecting their friends’ financial realities. After all, weddings are about celebrating love, not financial stress.

How to know if you're financially ready to start a family It’s no secret: raising a child can be expensive—sometimes overwhelmingly so. A few years back, a well-publicized report estimated that American parents would spend an average of $233,610 raising a child. A more recent survey found that families spend about $22,000 on child-related expenses like daycare and diapers during their baby’s first year alone. Not only that, but parents typically underestimate these costs by 37%. It’s no surprise, then, that more adults are opting not to have children, with 36% citing affordability as a major factor in their decision. While these numbers may seem intimidating, it's important to remember that there's no precise price tag for raising a child. At the same time, the costs aren't an unsolvable mystery either. If financial concerns are making you doubt your readiness for parenthood, taking a closer look at the numbers might help clarify things. There’s no one-size-fits-all answer, and it’s not just about saving or earning “enough” money. Rather than focusing on hitting a certain number, consider planning out expenses and considering potential lifestyle changes. Consider Your Timeline for Starting a Family Understanding your timeline can help you work backwards to figure out what adjustments you need to make. Some may prioritize finances or career goals, while others might be ready to have children sooner. Some may also consider fertility options like freezing eggs or IVF. If you’re unsure about your timeline, that’s fine, too—but having a general idea can help get the planning started. An important warning: Don't be fooled into thinking homeownership is a prerequisite for having a baby. Buying a home as a requirement to starting a family is one of the biggest myths, when it comes to family planning. If anything, it’s better to wait. Life as a parent is unpredictable, so renting gives you more flexibility. If You Have a Partner, Start Discussing Your Parenting Approach It may seem obvious, but many couples skip over this step. Start with a list of questions—both financial and personal—to discuss before having kids. What aspects of your childhood would you want to recreate for your children? What would you like to avoid? How do you envision spending time as a family—dinners together, vacations, or daily routines? These conversations can reveal how your values may impact your financial priorities. Other key points include deciding where you’d like to live (city vs. suburbs), whether you’ll both work, and how childcare responsibilities will be divided. Even questions about higher education can come into play. While you don’t need to have everything planned out, starting a 529 savings plan for college (or other educational expenses) early on can be helpful. Plan for Childcare and Support When it comes to childcare, consider your options—daycare, nanny, nanny share, or help from family. Each choice comes with its own set of costs, and it’s important to research what’s typical in your area. Talking to parent friends or reaching out to local daycare providers can give you a clearer picture. You’ll also want to think about your support system. Even if family members are eager to help, it’s important to have conversations about what they’re realistically able to commit to. Don’t just assume help will be there—find out what people can actually do. Create a Baby Budget Baby expenses typically fall into three categories: gear (one-time purchases like strollers or cribs), supplies (ongoing costs like diapers and formula), and services (childcare and healthcare). According to many parents, the first category—gear—is where people can save the most. Hand-me-downs from friends and family can be a lifesaver, and you can often find second-hand baby gear in great condition through local parent groups. On the other hand, supplies like diapers and formula are unavoidable expenses, so it’s smart to budget generously. When it comes to healthcare, choose a plan with a low out-of-pocket maximum if you’re planning to get pregnant. Though the monthly premiums may be higher, this can protect you from unexpected medical costs during pregnancy and early parenthood. Evaluate Your Budget Once you’ve created your baby budget, give it a trial run. If you’re planning to take time off work after the baby arrives, try living off one income for a few months and see how it feels. Or if you’re expecting, start setting aside what childcare will cost each month. This helps give you a sense of whether your plan is realistic or if adjustments are needed. It’s worth remembering that having a child isn’t just about adding new expenses; it’s about a whole shift in how you spend money. While child-related costs may increase, other expenses—like dining out or traveling—might decrease. However, your social life might now revolve around free activities like park visits, and you may cook at home much more often. It may seem like a big change, but it can also be a welcome one. Don’t Aim for Perfection—Trust That You’ll Figure It Out If you’re already reading this, you’re on the right track. Trust that your research and planning is evidence that you'll eventually figure it all out. Lastly, keep in mind that many baby expenses are temporary. Formula and diapers are short-term costs, and by age 4 or 5, your child may be in school most of the day, reducing childcare costs. Though the early years can feel financially overwhelming, they pass more quickly than you might expect.

More Life, Less Stuff: How to Live More by Owning Less When was the last time you bought something? Was it a month ago, a week ago, or even just an hour ago? With the ease of online shopping, we often find ourselves making impulse purchases—whether it's a deluxe egg cooker while waiting for the subway, sunglasses on flash sale while in line for coffee, or a hot pink cake stand during a Zoom meeting. These purchases often add up, filling our homes with things we don’t necessarily need. But why do we keep buying? And more importantly, how can we stop? Understanding the Urge to Buy Shopping has become so integrated into our lives that it’s hard to separate need from want. For many, like Elysia Berman, a fashion professional from New York, shopping is more than just a pastime; it’s a way of life. Over time, however, Elysia found herself overwhelmed by the sheer volume of items she had accumulated—six lip balms, two perfumes, multiple hand creams—all things she didn’t really need. Elysia then remembers the moment she realized her shopping was out of control. Last December, she ducked into a store to buy a pair of gloves. But she came out with a $600 coat she didn’t need and couldn’t afford. “ That was my breaking point,” she recalls. This realization led her to join the "no-buy" movement, a growing trend on social media where people commit to not buying non-essential items for a set period, usually 30 days. But for Elysia, a month wasn’t enough; she decided to embark on a no-buy year, which she is currently documenting on her TikTok account . Why Buying Less Matters Reevaluating our consumption habits isn’t just about saving money or decluttering our homes; it’s also about the impact our buying has on the planet. The fashion industry, for example, is responsible for around 10% of global carbon emissions. The fast fashion cycle, where trends come and go in a matter of weeks, contributes to this problem by encouraging the constant purchase of new, often cheaply made, clothing that ends up in landfills. Elysia’s story resonates with many who have found themselves trapped in a cycle of overconsumption. By stepping back and reassessing her shopping habits, she not only saved money but also found a new sense of clarity and purpose. How to Start Consuming Mindfully If you’re interested in buying less and living more, here are seven steps to help you get started: 1. Find a Community: Whether it’s through social media or local support groups, finding a community of like-minded individuals can provide the encouragement and accountability you need. Elysia found great support in the no-buy community on TikTok, where she now shares her journey with over 100,000 followers. 2. Set a Challenge: Not everyone needs to go a full year without shopping. You might try a 30-day no-buy challenge, or perhaps a low-buy month where you stick to a strict budget. Aja Barber, designer and author, suggests creative challenges like buying only second-hand clothes or not purchasing any new dresses for a year. 3. Curate Your Social Media: Our online environment heavily influences our buying habits. Unsubscribe from email lists, unfollow influencers who tempt you to shop, and consider installing blocks on websites that you find particularly tempting. Many people find this step crucial in breaking their shopping habit. 4. Make a "Yes" and "No" List: Identify the areas where you tend to overspend and make a no-buy list. Balance this with a yes list of things you value and want to continue spending on. For Elysia, this included dinners with travel, fresh flowers, and museum tickets—items that genuinely enriched her life. 5. Educate Yourself: Understanding the impact of your purchases can be a powerful motivator. Learn where your clothes come from, how they’re made, and the broader implications of fast fashion. Resources like Fashion Revolution and Labour Behind the Label offer valuable insights. 6. Recalibrate Your Values: Challenge yourself to rethink the value of what you buy. Is it better to have 20 pairs of cheap shoes, or a few pairs of high-quality shoes that will last? Get to know the people and process behind how your clothes are made, which can transform how you view and value your wardrobe. 7. Give Yourself Grace: Change is hard, and it’s important to be kind to yourself during this process. There will be slip-ups—you may end up splurging when you didn't intend to. But instead of feeling guilty, don't be ashamed of the experience, and remember the importance of resilience and self-compassion. The Rewards of Buying Less Choosing to buy less isn’t about deprivation; it’s about making space for the things that truly matter. Whether it’s improving your mental clarity, strengthening your finances, or reducing your environmental footprint, the benefits of mindful consumption are profound. For Elysia, the journey has led to not just a lighter closet, but a lighter mind, and a newfound sense of pride in what she’s capable of achieving. Ready to start your own journey? Whether it’s a no-buy challenge, a low-buy month, or simply a commitment to think more critically about your purchases, the first step is the hardest. But with a supportive community, a clear set of goals, and a little grace, you can make lasting changes that go far beyond your shopping habits.

Why the salaries of the cast of "It Ends with Us" are raising eyebrows among moviegoers The recent success of "It Ends With Us" not only brought in $80 million at the box office but also highlighted significant pay discrepancies among its cast. Blake Lively earned $3 million, while Justin Baldoni, despite being both a director and lead actor, received just $320,000. Here's how much each cast member of "It Ends With Us" was paid: Blake Lively – $3 million Blake Lively earned an impressive $3 million for her role in "It Ends With Us," reflecting her significant involvement in the film's production and star power. Her dual role as an actor and producer highlights the value she brought to the project, making her hefty paycheck well-deserved. Justin Baldoni – $320,000 Many moviegoers were surprised to see such a significant pay gap between Blake Lively and Justin Baldoni, especially since both are major names and contributed heavily to the film's production. Despite being the director and delivering a standout performance as Ryle, Baldoni's pay was nearly ten times less than Lively's. This discrepancy is puzzling, particularly given the drama surrounding the film’s cast. Brandon Sklenar – $300,000 Brandon Sklenar's character Atlas had considerably less screen time than Justin Baldoni's character Ryle in “It Ends With Us,” yet their paychecks were nearly identical. Given that Brandon Sklenar is a relatively new actor without major film credits, his salary befuddled moviegoers in comparison to Justin Baldoni's. Jenny Slate – $250,000 Jenny Slate reportedly earned $250,000 for her role as Allysa in "It Ends With Us," but many believe she deserved more. She delivered a hilarious and heartfelt performance, perfectly embodying Allysa from the original novel, and even elevating the character in the film. She also earned less than Brandon Sklenar, who many fans argued is a less prominent film and TV star than Jenny Slate. Salary Transparency: Why It Matters The disparity between cast members' paychecks underscores the importance of salary transparency. Knowing what your peers earn can provide crucial context during negotiations, helping to ensure that you’re compensated fairly for your work. Whether you’re in Hollywood or any other industry, understanding the market rate for your role is essential.

Why social security income isn't enough for retirement As concerns over Social Security's future grow, recent data reveals that 30% of Americans are betting on these benefits to fund their retirement. A new poll by NerdWallet highlights the stark reality: nearly one-third of U.S. adults lack a retirement account and are depending on Social Security, despite warnings that funds may be depleted by 2035. The Alarming Stats: 31% of Americans don’t have or won’t have retirement savings 30% believe Social Security will provide enough income for a comfortable retirement 46% of Gen Zers and 44% of millennials rely on future Social Security benefits The average Social Security retirement benefit is just $1,907 per month, totaling less than $23,000 annually. With approximately 67 million recipients—one in five U.S. residents—this income is already modest. However, the bigger concern is that Social Security's trust fund reserves might run out within the next decade, leading to potential cuts in benefits. Although experts and advocates are urging Congress to take action to secure Social Security’s future, any reform is likely to be politically challenging, with potential tax increases on the table. Despite the complexities, securing the program’s sustainability is essential for millions of Americans who rely on it for their retirement. If you’re among the 30% relying solely on Social Security, it’s crucial to diversify your retirement strategy. Consider opening a retirement account, investing wisely, and exploring other income streams to ensure a more secure financial future.

A cautionary tale on inherited retirement accounts and outdated beneficiary forms Jeffrey Rolison and Margaret Sjostedt dated in the 1980s, and now, nearly 40 years after their breakup, she could inherit his $1 million retirement account. According to reporting from the Wall Street Journal, this potential inheritance stems from Rolison naming Sjostedt as the sole beneficiary of his workplace retirement account on a handwritten form in 1987. He never updated the beneficiary designation, and following his death in 2015, she remains listed as the beneficiary. However, Rolison’s brothers are contesting Sjostedt's claim to the money. They were surprised to learn, just weeks after his death, that she was the beneficiary, as conveyed by their estate lawyer. “We were shocked,” said Brian Rolison, one of the brothers and a mechanic. The brothers have been in a legal battle against Rolison’s former employer, Procter & Gamble, trying to prevent the payout to Sjostedt, now known as Margaret Losinger. This dispute highlights the critical importance of beneficiary forms for retirement accounts, life insurance policies, and bank accounts. Often, these forms can override a will, even if they were completed decades earlier. Retirement account distributions after death As Americans accumulate significant retirement assets, disputes over these accounts are increasingly common, according to legal experts. Beneficiary forms are frequently lost, outdated, or incomplete, leading to unexpected outcomes for both beneficiaries and families. Federal law mandates that employers generally distribute retirement accounts to the last recorded beneficiary or to a surviving spouse if no waiver is in place. This could mean a name listed on a decades-old form, as in Rolison's case, or a name entered in an online system. Some employer plans, including Procter & Gamble’s, have not yet integrated old paper forms into their digital records, adding further complexity to the situation. “Inertia has the upper hand,” noted Norman Stein, a law professor at Drexel University and senior policy adviser at the Pension Rights Center, told the Wall Street Journal. How a decades old ex-girlfriend ended up with an inheritance According to court documents, Rolison met Losinger, who goes by Peggy, at a park where they were playing Frisbee, and the two began dating in their early 20s. Later, they moved to Sullivan County, Pennsylvania, where she worked as a waitress, and he took a job at a Procter & Gamble plant that produces Pampers diapers and Bounty paper towels. In 1987, a year after starting his job, Rolison enrolled in the Procter & Gamble profit-sharing and savings plans and filled out a beneficiary card, naming Peggy as his cohabitor. Peggy moved out two years later, married someone else the following year, and had two children, according to court documents. Then in 2015, when Rolison passed away, his retirement plan conducted an investigation to identify the beneficiary on various accounts. In Rolison's case, Procter & Gamble (P&G) faced three potential claims to his retirement funds. Losinger, along with Rolison's brothers, each argued that they were entitled to the balance. P&G also included Mary Lou Murray, Rolison’s longtime partner and co-worker, as a potential claimant under common-law spouse rights. In 2020, a federal court directed P&G to award the funds to Losinger. However, the money was placed in escrow while the brothers pursued legal claims against both P&G and Losinger. In 2021, the court ruled that Murray was not entitled to the funds as a spouse. The brothers contended that P&G breached its fiduciary duty by failing to adequately inform Rolison about his beneficiary designation. P&G argued that it had provided warnings during service provider transitions, on its website, and in Rolison's monthly statements, which included notices such as: “You don’t have any beneficiary designations online. Any prior beneficiary designations on file with the Plan will be retained by P&G, but are not viewable on this site.” The estate claimed that these standard notices were insufficient. Even if Rolison had seen the messages, the brothers argued that he might have reasonably assumed he had no beneficiaries on record, meaning default rules would apply, and the funds would go to his estate. Rolison had previously named his mother and Murray as beneficiaries of his workplace life insurance benefits, later listing only Murray after his mother's death. When Murray moved out, he removed her as well. With no named beneficiary, the life insurance proceeds went to his estate. The brothers believe this is what Rolison intended for his retirement funds as well. To cover funeral expenses, Brian and Rick sold Rolison’s BMWs, while his two cats were given to their twin nieces. Murray received a small investment account that had her name on it. The brothers split the workplace life insurance proceeds and the house. Meanwhile, Rolison’s P&G retirement savings remain in money-market funds, awaiting final distribution. A cautionary tale on outdated forms Regularly reviewing your account beneficiaries should be an essential part of your financial and estate planning. However, certain life events and changes in your accounts require immediate attention. Events like marriage, divorce, the birth of a child or grandchild, or the loss of a spouse or child can all necessitate updates to your beneficiary designations. Keeping these up to date ensures that your assets are directed to the intended recipients and that no one important is unintentionally left out. Additionally, whenever you close an account and transfer your money to a new one, it’s crucial to designate your beneficiaries again. For instance, if you’ve recently rolled over a 401(k) from a previous employer or moved an existing IRA to a new financial institution, your beneficiary designations won’t automatically transfer with your assets. Fortunately, updating your beneficiaries is often straightforward and can typically be done online or by filling out a form. If you’re unsure about how to designate your beneficiaries, consulting with an attorney or estate planner can help ensure your final wishes are honored.

These money-saving tips can help you build a nest egg During the COVID-19 pandemic, Americans experienced an increase in their savings thanks to stimulus checks and stay-at-home orders. However, many have since reduced their savings contributions, with the personal saving rate dropping to 3.5% in March 2024 compared to 26.1% three years earlier. Saving money requires both time and discipline, which can be particularly challenging amidst competing financial obligations or unforeseen expenses. Other factors such as the escalating cost of living and steep interest rates on debts also affect your ability to save. With inflation rates remaining persistently high and costs on the rise, saving money today presents greater difficulties than it did recently. Nevertheless, we can always reassess our current spending habits and find ways to cut expenses; and allocate more towards their savings accounts. How to Save Money on Groceries According to the most recent Consumer Expenditure Survey by the Bureau of Labor Statistics, spending on groceries rose by 8.4% in 2022. On average, Americans spend approximately $5,703 annually on food at home, which translates to nearly $500 per month. While food is a necessity, there are effective strategies to reduce grocery expenses: 1. Plan before you shop: Before heading to the grocery store, assess what you already have in your kitchen and create a list of essential items. This prevents impulse buys and ensures you don’t purchase unnecessary duplicates. 2. Opt for generic brands: Store brands typically offer comparable quality at a lower cost compared to name-brand products. You can save between 25% to 30% per item by choosing generic alternatives. 3. Buy in bulk wisely: Purchasing larger quantities can be cost-effective for families, but it's crucial to calculate the price per unit to ensure savings. Consider the shelf life of bulk items to avoid wastage. 4. Use a rewards credit card: Many rewards credit cards provide cash back and bonuses for supermarket purchases. Using one for necessary grocery expenses can further reduce costs, provided you pay off the balance in full each month to avoid interest charges. 5. Buy seasonal produce: Purchase fruits and vegetables that are in season, as they are typically fresher and less expensive than out-of-season produce. How to Save Money on Your Mortgage According to the National Association of Realtors (NAR), the median mortgage payment for Q2 of 2023 was $2,051 for a single-family home, making it a substantial monthly expense for many Americans. Here are strategies to reduce your mortgage costs: 6. Buy down your mortgage rate: Consider paying extra upfront at closing to lower your mortgage interest rate. Calculate the potential savings over the life of the loan to ensure it’s financially beneficial. While this may not be advantageous if you plan to sell soon, reducing your interest rate by just 1% on a long-term home can lead to significant savings. 7. Make an extra payment each year: Switch to bi-weekly payments or make an additional payment annually by dividing your monthly payment in half. This approach accelerates equity build-up and reduces your principal faster, ultimately cutting down the total interest paid over the loan term. 8. Refinance your mortgage: Explore refinancing options to secure a lower interest rate. This can decrease your monthly payments and result in substantial long-term savings on interest costs. Ensure to compare potential savings against any associated closing costs or extended loan terms. How to Save Money on Electricity and Utility Bills Utility expenses can unexpectedly rise, especially during extreme temperatures in summer and winter. However, you can effectively manage your energy costs with these strategies: 9. Reduce your usage: Cut down on energy consumption by taking shorter showers, using warm or cold water when possible, and unplugging electronics when they're not in use. These simple habits can significantly lower your monthly utility bills. 10. Repair leaks: Addressing leaks in pipes and sealing cracks in windows and door frames helps conserve water and reduces the energy needed to maintain indoor temperatures. Proper insulation and sealing can lead to noticeable savings on your utility bills. 11. Invest in energy-efficient appliances: Upgrade to energy-efficient appliances to decrease your carbon footprint and reduce energy expenses over time. While these appliances may have higher initial costs, they typically consume less energy and may qualify you for rebates or tax incentives, providing long-term financial benefits. How to Save Money on Rent According to Apartments.com, the average monthly rent for a one-bedroom apartment is $1,534. However, residents in busy metropolitan areas face even higher costs. For instance, average rents are $2,569 in New York, $2,481 in Massachusetts, and $2,117 in California. High rental expenses not only strain budgets but also hinder saving and investing for the future. Here are strategies to potentially lower your monthly rent: 12. Sign a longer lease: Landlords prefer stable tenancies to minimize vacancy periods. Consider signing a longer lease—beyond the standard 12 months—to negotiate lower monthly rent in exchange for guaranteed rental income over an extended period. 13. Negotiate with your landlord: Initiate an open discussion with your landlord, emphasizing your track record of timely payments and stable income. Landlords may be willing to adjust rent prices, especially if it helps retain a reliable tenant. 14. Get a roommate: Sharing your living space with a roommate can significantly reduce rental costs. Before doing so, ensure it aligns with your rental agreement and consult with your landlord. 15. Consider a different location: Explore neighborhoods with lower rental prices. Moving to a more affordable area can substantially decrease your monthly rent without compromising on living quality. Additionally, relocating to regions with lower sales taxes or no income taxes could further enhance your savings. How to Save Money on Transportation Transportation costs, including car payments, insurance, fuel, and maintenance, can add up significantly. According to the American Automobile Association (AAA), the average annual cost of owning a new vehicle driven 15,000 miles per year rose to $12,182 in 2023, up from $10,728 the previous year. Here are effective strategies to reduce transportation expenses: 16. Choose alternative transportation: Consider walking, biking, skateboarding, or rollerblading for short trips instead of driving. Not only will you save money on fuel and maintenance, but you'll also potentially improve your health. 17. Use public transportation: If available, utilize local buses or subways, which can be more cost-effective than driving. Some employers may offer subsidies or discounts for commuting expenses. 18. Carpool whenever possible: Share rides with friends or coworkers heading in the same direction to split fuel costs and reduce wear on your vehicle. 19. Utilize fuel-saving apps: Apps like GasBuddy and Waze can help you find the cheapest fuel prices nearby, saving you money every time you fill up. 20. Avoid high-cost ridesharing trips: Convenience always costs more. Avoiding ridesharing trips can significantly save you money by eliminating the costs associated with frequent use of these services, such as surge pricing and fees. How to Save Money on Insurance Insurance premiums can be a significant expense, but there are ways to lower costs: 21. Bundle policies: Many insurers offer discounts for bundling multiple policies, such as auto and home insurance. 22. Explore discounts: Inquire about discounts for safe driving records or additional safety features on your vehicle. 23. Compare quotes: Shop around and compare quotes from different insurers to find the best coverage at the lowest rates. Consider revisiting this comparison periodically to ensure you're still getting the best deal. How to Save Money on College Expenses College costs continue to rise, but you can mitigate expenses with these strategies: 24. Apply for scholarships: Research and apply for scholarships based on merit, need, or specific criteria related to your background or interests. 25. Consider public or community colleges: Opting for a public university or community college can offer substantial savings compared to private institutions. 26. Explore commuting options: If feasible, commute to campus instead of living on-campus to save on housing and meal plan expenses. 27. Utilize student discounts: Take advantage of discounts offered to students on various goods and services to reduce everyday expenses. 28. Enroll in work-study programs: Take advantage of work-study programs offered by many colleges, which allow you to work part-time while attending school, earning money to offset tuition and other expenses. 29. Rent or buy used textbooks: Save on textbooks by renting them, buying used copies, or using digital versions. Some courses may also provide free online resources. How to Save Money on Travel Travel expenses can be managed effectively with these tips: 30. Use travel rewards credit cards: Earn points or miles for travel expenses by using a travel rewards credit card for everyday purchases. Be sure to pay off your balance monthly to avoid interest charges. 31. Travel in the off-season: Plan trips during off-peak times to take advantage of lower airfare and accommodation rates. 32. Book in advance: Secure lower rates on flights and accommodations by booking well in advance of your travel dates. 33. Use fare comparison tools: Utilize travel comparison websites and apps to find the best deals on flights, hotels, and rental cars. Set up price alerts to monitor fare drops. 34. Opt for budget airlines and accommodations: Choose budget airlines and consider staying in hostels, guesthouses, or vacation rentals instead of traditional hotels to save on lodging. 35. Use public transportation: Instead of taxis or rental cars, use public transportation like buses, trains, and subways to get around. It's often cheaper and gives you a local experience. How to Save Money on Kid-Related Expenses Raising children can be costly, but you can save money with these approaches: 36. Shop secondhand: Purchase gently used clothing, toys, and other items to save on costs associated with growing children. 37. Attend free activities: Take advantage of community events, libraries, and local resources that offer free entertainment and educational opportunities for children. 38. Prioritize preventative care: Schedule regular check-ups and vaccinations to maintain children's health and prevent costly medical expenses. How to Save Money on Shopping Enjoy shopping while staying within your budget with these strategies: 39. Join loyalty programs: Earn rewards and discounts by joining loyalty programs offered by your favorite retailers. 40. Sign up for email alerts: Receive notifications about sales, promotions, and exclusive offers by subscribing to retailers' email lists. 41. Use browser extensions: Install tools like Honey or Rakuten to automatically apply coupons and earn cash back while shopping online. 42. Use cashback apps: Use apps like Ibotta or Flux, which offer cashback rewards, discounts, and personalized deals on everyday purchases. How to Save Money on Taxes Reduce your tax liability with these tax-saving tips: 43. Maximize retirement contributions: Increase contributions to retirement accounts like 401(k)s or IRAs to lower taxable income. 44. Utilize health savings accounts (HSAs): Contribute to an HSA for tax-deductible savings on medical expenses. 45. Explore deductions and credits: Take advantage of available tax deductions and credits, such as those for education expenses or charitable donations, to reduce taxes owed. By implementing these strategies, you can effectively reduce expenses across various aspects of your life and increase savings for future financial goals.

Back-to-school shopping doesn't have to be expensive; secondhand shopping and teaching kids about money can make costs more affordable Summer breaks can feel like a pressure cooker for parents. Managing full-time work, keeping the pantry stocked, and entertaining energetic children while engaging them in learning activities can be overwhelming. As summer ends, the pressure surrounding back-to-school shopping builds, particularly with the recent increases in the cost of living, even as inflation cools. According to NerdWallet’s 2024 back-to-school shopping report, parents of K-12 or college students who plan to do back-to-school shopping this year will spend an average of $541 on school supplies and clothing for their kids’ upcoming school year. Here are a few tips on how to shop for clothes and supplies on a budget. These insights can be valuable even if back-to-school shopping is already underway. Create a Budget and Stick to It Before you start shopping, set a clear budget. Determine how much you can afford to spend on school supplies, clothing, and other essentials. Make a list of items your child needs and prioritize them. Having a budget helps you avoid overspending and makes it easier to track your expenses. Take Inventory of What You Already Have Go through last year's school supplies, clothes, and other items to see what can be reused. Many items like backpacks, lunchboxes, and stationery can often last more than one year. This can significantly reduce the number of new items you need to purchase. Separate Needs from Wants for Your Children Back-to-school supply lists can seem endless, often leading to budget overruns. Make a list of all the supplies, including wants and needs; and compare that to your budget and what you already have. From there, start prioritizing. For example, your child may want both crayons and markers, but do they need both? Shop Sales, Use Coupons, Price Match, and Attend "Free Supplies" Events Keep an eye out for back-to-school sales and special promotions. Many stores offer significant discounts on school supplies and clothing during the summer months. Additionally, use coupons and discount codes whenever possible. Websites like RetailMeNot and Honey can help you find the best deals. Some retailers may also offer price matching policies, where they will match a lower price found at a competitor. This can be a great way to ensure you’re getting the best deal without having to shop at multiple stores. Always check the store’s policy and bring proof of the lower price when you shop. You can also attend back-to-school events that usually give out free supplies. These events can be found on Google, Eventbrite, Facebook, or local government websites. Consider Secondhand Clothing for Younger Kids Clothing can be a major expense when kids are going back to school. Thrift stores, consignment shops, and online marketplaces like eBay and Facebook Marketplace can be great places to find gently used clothing and school supplies at a fraction of the cost. Hand-me-downs from family and friends are also a great way to save money on back-to-school items. Set a Budget and Negotiate with Older Kids Teaching your kids about budgeting and smart shopping can be a valuable lesson. Give them a budget for their supplies and let them help make decisions on what to buy. This can help them understand the value of money and make them more mindful of their choices. The Bottom Line By implementing these strategies, you can make back-to-school shopping more affordable and less stressful. Planning ahead, being resourceful, and taking advantage of sales and discounts can help you stick to your budget while ensuring your child has everything they need for a successful school year.

Compound interest can boost the growth of even the smallest investments We’ve all heard it before: start planning for retirement when you’re young. But what if circumstances have forced you to wait? Is there no hope? The answer is a resounding no. Here are three reasons why it’s never too late to start planning for the day you bid farewell to your job. 1. Compound interest works regardless of your age Some people start saving for retirement as soon as they enter the workforce, benefiting from the magic of compound interest over a long period. However, starting early is not the only path to success. Compound interest can still work in your favor, no matter when you begin. Let's assume you're 55, aim to retire in 10 years, and have no retirement savings yet. While this isn't ideal, it is not insurmountable. As personal finance experts often say, "The best time to plan for retirement was years ago. The second-best time is today." Let's assume you start contributing $100 a week to a retirement plan, such as a company plan or an individual IRA. Historically, the average annual return on the S&P 500 since 1928 has been 7.7%. Although returns vary from year to year, let's assume an average return of 7% over the next 10 years. By investing $5,200 annually ($100 weekly), you would have nearly $72,000 saved by age 65. Without compound interest, this total would be $52,000 ($5,200 per year times 10). However, thanks to compound interest, your investment grows significantly by an additional $20,000. 2. Take advantage of "catch-up" contributions as you get older As you get older, you become eligible for "catch-up" contributions, which allow you to contribute more to your retirement plan. For example, in 2024, the standard contribution limit for a 401(k) plan is $23,000. However, if you are 50 or older by the end of the calendar year, you can make an additional catch-up contribution of up to $7,500. This means you can contribute up to $30,500 annually to the following plans: 401(k) (excluding SIMPLE 401(k)) 403(b) SARSEP Government 457(b) Even if you think contributing more is beyond your reach, every extra dollar you add to your retirement savings brings you closer to your goals. Remember, you don't have to withdraw all your retirement funds at once. You can take only the required minimum distribution (RMD) and allow the rest of your funds to stay invested and continue growing. 3. You have a clearer picture of your guaranteed income Guaranteed income refers to reliable sources of income you can depend on monthly, such as pensions, Social Security payments, and annuities. The Social Security Administration (SSA) calculates your monthly benefits based on your "average indexed monthly earnings" over your 35 highest-earning years. Typically, the older you are, the more work history you have, and the more accurate the SSA's estimate of your future benefits will be. Why is this important? Knowing how much guaranteed income you will receive each month makes it easier to create a realistic budget. You can register at my Social Security to get an estimate of your expected benefits. Although the estimate isn't exact, it's close enough to help you determine if your projected income will meet your needs or if you need to adjust your plans. For instance, you might choose to work longer, take on a side hustle, or downsize your living situation in retirement. The bottom line If you're inclined to think in all-or-nothing terms, starting to save for retirement later in life might seem daunting. However, every dollar you save now will help make your retirement years more comfortable.

As a result of the "money" gap, women are more financially vulnerable than men Women still face a wealth disparity, compared to men. Even as women achieve higher levels of education and attain more prominent positions in the workplace, the gender pay gap remains. For example, women are still more likely to take time out of the labor force or reduce the number of hours worked because of caretaking responsibilities. Referred to as the “motherhood penalty,” this often impacts a woman's career opportunities. Stemming from the wealth gap, women often find themselves more financially precarious compared to men. According to a recent study by Fidelity Investments, a staggering 93% of women experience money-related stress, regardless of their household income. Further reports indicate that many women in the United States remain in unhealthy or dysfunctional marriages due to financial insecurities. Even in healthy relationships, women typically outlive men. Consequently, women often need to manage finances independently at some point in their lives, but are often unprepared to do so. Emergency funds to the rescue For women, “financial stress is pretty consistent across all age groups and income,” said Lorna Kapusta, head of women and engagement at Fidelity. However, simple money management strategies like emergency funds can alleviate that stress. Fidelity's research reveals a significant reduction in financial stress as women increase their emergency savings. Among those without any emergency savings, approximately 81% experienced moderate to high levels of stress. But when women accumulate three months' worth of emergency funds, only 26% report elevated stress levels. How to start building an emergency fund and cash reserve Many financial experts advise setting aside at least three to six months' worth of expenses. If you are the sole breadwinner or self-employed, they recommend saving even more. Lorna Kapusta, head of women and engagement at Fidelity, recommends creating a budget divided into three main categories. She advises allocating 50% of your income to essential expenses like rent, food, and utilities, 15% to retirement savings, and 5% to an emergency fund. The remaining 30% can be used for discretionary spending or to cushion against a higher cost of living. If you can't meet these savings targets right away, Kapusta suggests starting by putting any amount into a high-yield account, many of which currently offer over 5% interest—the highest rate in nearly two decades—and gradually increasing your savings over time. Additionally, she recommends contributing enough to your 401(k) to receive the full employer match and opting for auto-escalation, which will automatically increase your contributions annually.