Blog - Page 8 of 30 - Women’s Money

03Mar 2021 by Elizabeth

Airbnb (or VRBO) vs Hotels: How to Find the Cheapest Place to Stay

Travel

Depending on where you are traveling to and who you are traveling with, staying at an Airbnb or VRBO can be a much more affordable option than spending the night at a hotel. But do you know how to find the cheapest place to stay? Here are our top tips to save money on where you stay for your next vacation. How to Find the Cheapest Place to Stay Finding the cheapest place to stay requires that you ask yourself several questions. Be sure to consider the following before booking a hotel or Airbnb/VRBO so that you can save money on travel accommodations. 1. How big is your party size? If you are a family of four or more, usually renting a place will be cheaper than renting multiple hotel…

28Feb 2021 by Tammy Camp

How I’m Saving $100,000 to Take a Sabbatical

Sabbatical Sundays

As I’ve been writing about my journey to save enough money to take a sabbatical, you are probably wondering, "how is Sam going to save $100,000 to be able to take a year off of work?" Honestly, that’s a question I am asking myself as well. But, I have a plan. First, let’s start high-level. In order to save $100,000 in a year, here is how I could break the savings down: $274/day$8,333/month$25,000/quarter$33,333 three times$50,000 two times$100,000 once Doing any of these things would allow me to save $100,000 in one year. Note that these don't take into account any interest calculations. This means either earning this much more per day, week, month, quarter, year or cutting expenses by that amount. Or somewhere in between. You’ve probably seen many writers…

24Feb 2021 by Elizabeth

The Best Way to Save for a Vacation in 5 Easy Steps

Travel

I am ready for a vacation. Perhaps you sensed that in my post about How to Survive the Rest of COVID Winter with Kids. Most Americans don’t take enough vacation time, and we certainly didn’t take enough vacation during COVID-19. So, while we await the vaccine, travel restrictions lifting, and herd immunity, the wanderlust is real. But what’s going to happen when we are all able to take a vacation again? How are we going to finance it? Will you be putting it on a credit card and planning to pay it off later? Perhaps you are counting on another stimulus check or a tax refund to pay for your time away? Or have you set aside money now? According to a 2019 Forbes article, most Americans spend an average of…

14Feb 2021 by Tammy Camp

8 Signs of Burnout and How to Recover with a Sabbatical

Sabbatical Sundays

“I’m so tired, but I can’t sleep, [standing on the edge of something much too deep.]” The Sarah MacLaughlin song, “I Will Remember You,” always pops into my head when I think about burnout. Burnout and avoiding burnout is one of the most common reasons women consider a sabbatical. The struggle to avoid burnout is particularly real right now. COVID’s unique challenges are making work-life balance so much more difficult. Trying to avoid burnout is one of the biggest reasons I am planning for my own sabbatical next year. Eight Signs of Burnout Here are the biggest warning signs that you are already burned out or are on the path to burning out. 1. Being Tired but Not Sleeping Whether you lay awake at bedtime and can’t fall asleep or you…

07Feb 2021 by Tammy Camp

Does Money Motivate You?

Sabbatical Sundays

I previously wrote about the importance of finding your “why” when it comes to taking a sabbatical. Whenever you are doing something big and sort of scary, you need to know why you’re doing it. You also need to have motivation. Motivation is what will drive you to continue, even when it’s hard. Recently, I read Drive by Daniel Pink. One of the most interesting questions he tackles in his book is: does money motivate people? More specifically, he examines the research about whether money motivates people and if this ultimately leads to happiness. According to Pink’s research, reaching a certain dollar value in savings shouldn’t increase my happiness at all. In fact, having a goal of saving a certain amount of money is not a “good” goal in that it won’t…

03Feb 2021 by Elizabeth

The 2 Times When You Should Stop Saving For Retirement

Saving & Investing

Image credit: CalcXLM There is plenty of talk about Americans saving too little for retirement. Almost half of those under 30 have saved nothing for retirement, and nearly half of those 55 and older have saved nothing for retirement. But let’s talk about the other end of the spectrum. What about those who have saved enough or too much for retirement? Here are two signs you should stop saving for retirement. 1. You are under 40, and you've saved at least $500,000 for retirement. Let’s say you are 38 years old and graduated from college in 2005. Since then, you have worked steadily and been able to nearly max out your retirement contributions most years since you graduated. If you had contributed $15,000/year since 2005 to an index fund that…

27Jan 2021 by Elizabeth

3 Best Ways to Generate Business Ideas

Entrepreneurship / Making Money

I have started at least five businesses in my life. I’m currently on my 6th and 7th. Some of them have been failures with thousands of hours and dollars poured in with them never fully getting anywhere. Others have been relatively successful -- earning enough per month to live on and then being able to ultimately sell. I eventually sold or wound down these businesses before truly giving them a chance to grow. That’s because my favorite part of starting a business is: The Idea. I love coming up with ideas for businesses. However, for many entrepreneurs coming up with a viable business idea is a challenge. Here are the three best ways to generate business ideas. Answer the following questions: 1. What Problem Do You Need Help Solving in Your Life…

20Jan 2021 by Elizabeth

The 1 to 5 Plan for Easy Financial Planning

Saving & Investing

For many people, the new year means a whole new look to your paycheck. Maybe you received a raise or a cost of living increase. Chances are your health insurance premiums went up. And, of course, taxes may be coming out at a slightly different rate. Whenever I get my first paycheck in the new year, I always closely look at my paystub compared to last year’s and determine where I can make adjustments to better reach my savings goals. One of my favorite plans to build wealth is what I call the “1 to 5 Plan.” I developed this plan for myself, but you can make adjustments depending on where you are currently at and your goals. If you are looking for a great way to kickstart your year and…

17Jan 2021 by Tammy Camp

Samantha’s Sabbatical: Intro and Frequently Asked Questions

Sabbatical Sundays

Hi. I’m Samatha. I’m a working mom, corporate employee, our family’s breadwinner, and mom of 2. I love my job, but I am ready for a break. I’m thrilled to be joining Women’s Money for a regular series during 2021 to tell you about my plans to take a year off. That’s right. I’m planning to take a year-long sabbatical from my job in 2022. In this introduction post, I’ll answer some of the most common questions I expect to get about my plans to take a year off work. Why are you taking a sabbatical? What are you going to do with your year off? While only a few people know about my plans, they have all asked me -- why are you taking a sabbatical? Is this like…

13Jan 2021 by Elizabeth

How to Find Fulfillment at Work

Goals / Taking Action

Across the board, research on happiness and fulfillment reveals the critical importance of feeling like you are making an impact. Does your work matter? To feel fulfilled and find happiness at work, you need to be able to answer this question with a “yes.” How to Find Fulfillment at Work Depending on your role and where you work, it may be hard to feel like your work makes a difference. Thankfully, there are two easy solutions for this. 1. Ask yourself three questions. Angela Duckworth’s Grit details three questions to ask yourself to increase your satisfaction in your job. First, how does the work you’re already doing contribute to society? Let's say you work in marketing for a healthcare company and your goal is to sell more of a particular type…