enRICHed: volume 126
we’re so back
Sunday April 20, 2025
Volume 126
Hey besties!
You all know me as Your Rich BFF but before I was responsible and “adulty,” I was like any other broke college student—just trying to make enough to pay my bar tab. Don’t get me wrong, I hustled through part-time jobs, but that money went out as quickly as it came in. So what changed? I shifted my relationship with money, and you can too! This week, I sat down with 3x NYT Best Selling Author and Former Professional Athlete Lewis Howes on Networth & Chill and learned why he says you can’t make easy money, but you can make handling and growing your money easy. We also talked about how our relationship with ourselves affects our relationship with money, and what it means to be ready for success. New episodes of the podcast drop every single Wednesday so be sure to subscribe to my YouTube channel HERE or follow Networth and Chill wherever you get your podcasts!
Plus, keep up with the podcast on Instagram and TikTok!
As a reminder:
HYCU, pronounced haiku: how the news impacts you and your wallet, aka How You Can Use
The Prosperitea: think discount codes, non-boring finance articles, sales, and personal links from the week. The fun stuff 😉
We love your comments, but please remember to keep it positive! And don’t take investing advice from anyone who isn’t your registered financial advisor!
Now that you’re up to speed, let’s get you enRICHed.
Europe At Your Dorm Window 🧪🧬🔭
In case you missed this news: President Donald Trump has been trying to get rid of academic research institutions (think Columbia, UPenn, and more) that study so-called “progressive issues” by threatening their tax-exempt status, which is why Harvard rejected federal funding as a response to the shots fired.
If you didn’t know, some colleges have received billions of dollars in government funding every year since World War II, when the government began giving them money so they could aid the war effort with medical research, innovation and student financial aid—so basically, whenever you see a new medical discovery being released or gotten some aid on your university-affiliated hospital bill, it’s likely come from this funding. But because some of this research focuses on racism and vaccines, which goes against the Trump administration’s whole branding, colleges are now being targeted.
At the same time, everybody else is trying to win over the researchers now: countries in Europe are sliding into their DMs with offers to take them in, offering funding, visas, and possibly even a new legal status. Aix-Marseille University in France is offering “scientific asylum” for US-based researchers, while Germany, Spain, and Belgium have also been launching new funding programs, visa pathways, and fellowships to attract US researchers whose work has been impacted by the drama.
HYCU; The truth is, solid scientific research is That Girl, so if Trump doesn’t want these recipes, someone else will try and grab them. Europe is clearly trying to position itself as the next global hub for science and technology, and since so many scientists are snatching up the opportunity to continue their work abroad, if things keep going this way, it’s likely that the center for innovation will shift elsewhere. What does that mean for us regular brains, you might add? Well, it’s likely that student financial aid will be tighter, which will hurt lower-income and middle-class students who might not be able to afford tuition without it. We’ll also probably get new devices, medicine, vaccines and products at a slower pace compared to the rest of the world, since the research just won’t be there comparative to other countries. And if you go to a university-affiliated hospital, where most of the funding often goes, it’s also possible that you might see higher hospital bills or fewer resources, especially for places like women’s health centers, which are part of the attacks.
Waking Up In…Space? 🚀☄️
This week in weird news, Katy Perry and Gayle King were some of the celebrities who went to space for *checks notes* 11 minutes with the Blue Origin Space Crew, a project founded by Jeff Bezos that basically auctions tickets for the uber-rich to go to space.
There was so much hubbub leading up to this, and ultimately the short trip (which was shorter than a YouTube video) just involved Katy Perry singing, trying to announce her world tour, and inspiring people to make a bunch of memes about how ridiculous it was (even other celebrities joined in on it, which is wild). Bezos hasn’t confirmed how much a ticket costs, but he did tell the New York Times that the company is nearing $100 million in sales so far (unclear how many ticket holders that includes).
We do know these tickets are obscenely expensive, though: Oliver Daemen, the Dutch teenager aboard Blue Origin’s first crewed flight in July, was occupying a seat that the company auctioned off for $28 million, a steep number that even shocked some company executives (of that total, $19 million was donated equally to 19 space organizations). The 18-year-old actually got onto the ship because his dad was the runner-up bidder during the auction, but the actual bidder who won had a scheduling conflict, so I guess Daeman’s dad just gave the ticket to him.
HYCU; When we talk about rich people riching right, this is the kind of discourse that just goes to show the frustration that people feel with the state of the economic ecosystem right now. $28 million is enough to pay for a year of groceries for 2,804 average American households, a year of school lunches for 52,141 students, or around 100 school buses, so it can be frustrating to see the money being used to sing on a space tourism trip when people are suffering so acutely. You know who does rich right, though? Dolly Parton, who used her millions to fund the research for the COVID Moderna vaccine and give free books to children of any background, from ages zero to five, around the world through her foundation, the Dolly Parton Imagination Library. Big heart, big hair, can’t lose.
Anxiety High Up 😔🥶
The unemployment rate is pretty low right now, but nothing feels secure, because Americans’ job anxiety has been higher than ever compared to the past ten years.
According to University of Michigan data analyzed by the Bank of America institute, the percentage of consumers who expect unemployment to rise over the next year surged to 66% in March, the highest level in a decade—everyone’s waiting for the other shoe to drop, keeping an eye out for layoffs. Employee confidence temperatures measured by ZipRecruiter and Glassdoor also fell in the first quarter this year, which lines up with this new report.
It makes sense, after all: government workers have been getting laid off left and right, and the hiring market is incredibly slow—it takes a lot to find a new job right now, with more people applying and not hearing anything back, and hearing about these two factors is a ripe recipe for anxiety. Workers in the middle of the labor market, those with some college education or just a Bachelor's degree, seem to be impacted the most.
HYCU; We can add rising job anxiety to the list of soft economic indicators that may be signaling trouble ahead, on top of the impacts of rising tariffs and the frozen job market. For now, anxiety isn’t necessarily prophetic, so all you can do is focus on what you can control right now, but if you are feeling uncertain about the economic outlook, just know that you are not alone.
RzKw asks, “Hi Vivian and all! I just heard a CFP recommend laddering CDs over HYSAs. This is the first time I’ve heard of laddering CDs. Pros and cons of laddering CDs over HYSAs?”
Hi there! Laddering CDs (Certificates of Deposit) is a super interesting strategy that many people explore for their savings. Here’s how it typically works: you invest in multiple CDs with staggered maturity dates. This way, you can enjoy the benefits of higher interest rates from long-term CDs while still having access to some funds at shorter intervals.
Pros of Laddering CDs:
Higher Interest Rates: Long-term CDs usually offer better rates than short-term ones. By laddering, you can lock in those higher rates while maintaining some liquidity.
Predictable Cash Flow: With CDs maturing at different times, you have regular access to some of your funds, which is great for budgeting.
Reduced Interest Rate Risk: If interest rates rise, you can reinvest maturing CDs at higher rates. If they fall, you still have funds locked in at the higher rates from previous years.
Cons of Laddering CDs:
Early Withdrawal Penalties: If you need to access your funds before a CD matures, you often incur penalties, which can offset any interest earned.
Inflation Risk: If inflation outpaces your CD’s interest rate, the real value of your returns may diminish over time.
Complexity: Managing multiple CDs with different maturity dates can require careful tracking and more administrative effort.
Now, let’s look at High-Yield Savings Accounts (HYSAs):
Liquidity: HYSAs allow easy access to your funds without penalties, making them ideal for emergency savings or short-term goals.
Flexibility: You can make regular deposits and withdrawals, providing flexibility for ongoing savings.
Variable Interest Rates: HYSAs typically have interest rates that can fluctuate based on market conditions, which means your returns might be lower if rates decrease.
One thing to think about: Your choice between laddering CDs and HYSAs often boils down to your financial goals. If you’re looking for higher, predictable returns and can commit to not needing the funds for a while, laddering CDs might be the way to go. If you prioritize flexibility and immediate access to your money, HYSAs could be more suitable. If you’re in the market for a HYSA, this is the one I use!
Want to be featured in our Question Bank section?
Rich Tip of the Week: What the bond market means for YOUR money!
Are we in need of recession pop music?
America’s got “chlorinated chicken,” and nobody seems to want it for some reason.
Speaking of chicken news, we’re getting lab-grown chicken nuggets. Science!
SEE YOU IN THE COMMENTS BESTIES
Great read! Thanks so much sharing, I also see you are a podcaster, I have one as well. I’d love to cross collab on each other’s podcast if you ever want to chat let me know.
Thank you. I am learning so much🙌🏼