enRICHed: volume 63
long weekend = short week
Sunday January 14, 2024
Volume 63
A Long Weekend Version
I saw an article this week that was titled 6 Hobbies to Pick Up When You’re Stuck Inside All Winter and that really pissed me off !!! Just because it’s cold outside, doesn’t mean the world has to stop. It made me think of this article by one of my favorite OG bloggers Joanna Goddard of Cup of Jo. She asked in 2022, “How’s everyone getting outside this winter?” and the post garnered over 200 comments from people all over the world, motivated to get outside despite the cold. Walking, hiking and running are free forms of exercise, and I gotta say that (if you’re properly dressed) feeling the cold air on your face really makes you feel alive. Yes, it’s good to have hobbies other than Netflix during this time, but I do encourage you all to avoid a complete hibernation. Hit us in the comments, how are you getting outside this winter?
As always on a long weekend, we don’t love to send too much information because we know you are trying to relax and news can be stressful. However, below you’ll find some fun reads, sale picks, a podcast rec and 1 news stories that I found important (spoiler, it’s the Bitcoin ETF).
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.
Bitcoin ETFs ₿💸
Something you’re going to have seen in the news this week is Bitcoin ETF. Let’s get enRICHed here.
Who is involved?
The US Securities and Exchange Commission (SEC) + a number of financial services firms who have been trying to launch ETFs like BlackRock, Fidelity, Franklin Templeton, Grayscale, WisdomTree and Invesco, among others.
What is an exchange traded fund or ETF?
Think of an ETF as a basket. Let’s use SPY as an example, which is one of the oldest and largest ETFs.
SPY tracks the S&P 500. In order to do that yourself, you would have to buy stock in every S&P 500 company, which is extremely expensive. SPY costs you ~$476 a share, and does pretty much the same thing.
ETFs are a great way to diversify your investment, because you’re getting a little piece of all of the underlying stocks. They allow you to take a view at a lower cost. Something like the iShares MSCI Emerging Markets ETF (EEM) gives you exposure to emerging economies if you have a view those will go one way or another.
What happened? Why does it matter?
The SEC approved 11 spot bitcoin exchange-traded funds (ETFs) late Wednesday.
A Bitcoin ETF will allow you to hold Bitcoin as a mainstream investor, as easily as you would buy and sell stocks or mutual funds. It makes Bitcoin accessible and inclusive. Instead of buying Bitcoin at $43,000 you can buy Bitcoin via something like the iShares Bitcoin Trust (IBIT) for $25.
Bitcoin ETFs traded $4.6 Million on their first day (Thursday) proving almost immediately how excited the market is about this decision.
YRBFF POV
We still are going to opt for traditional ETFs, mutual funds, and high yield savings accounts. This news is exciting for the wider market, yes, and does make Bitcoin investing accessible to retail investors - but we are trying to build wealth here, and recommend relying on what has proven successful vs. jumping into something new.
More reading
Long Weekend Sale Picks 🛍️🎰
J.Crew is reliable for a sale always, but especially on a long weekend (40% off select items, 70% off sale). 65% of my wardrobe is from here - so there is not just 1 pick but a whole list - it’s scary I can vouch for it all.
Nike is running 25% off select items - my favorite Nike Blazers are on sale! CODE: LETSGO
Shopbop is also running 25% sale items - these AGOLDE crisscross jeans are never going out of style IMO but the classic fan favorite Parker jean shorts are also included if that’s more your speed
Anthropologie is 50% off sale - which brings these black tights down to $9, tights are expensive to replace so we jumped on this
Saie is 20% off +$50 which means my favorite skin tint is on sale. I am a no makeup-makeup girlie and this is my desert island product. CODE: GOODDAYS2024
Papier’s planners are my ALL TIME FAVORITE - this is the one I got for 2024. 15% off while it lasts!!
Last but not least, KULE’s annual Warehouse sale is live, with up to 60% off - everything here is usually to expensive for me, but I’m dying at this knit bucket hat and this perfect canvas beach tote
Reminder, you do not need and should not feel the need to buy anything new just because there are sales happening. Feel free to ignore this section as whole and go for a walk.
Rich Tip of the Week: Ways to Save: Stuff Viv is No Longer Buying in 2024
Some things I loved this week: these freaking adorable Valentine’s Day pajamas that I sent to my sister group chat immediately, this book by Harrison Scott Key “How to Stay Married”, these socks from Uniqlo (I bought 4 pairs oops)
Something I saved on my Pinterest board this week:
Something I am watching this weekend: BREAK POINT ON NETFLIX IS BACK, my god am I excited to watch Nick Kyrgios on my television screen again.
Something I am listening to this week: this episode of The Ezra Klein Show came across a few of my Substack chat feeds this week. Kyle Chayka joins to discuss how in the era of the algorithm, it’s difficult to discover your own taste. It was riveting and I am going to listen again with a pen in hand.
Have you heard about the buddy-moon? What are your thoughts? (NY Times)
The Twin Flames Matchmaking cult is scamming couples out of real $$$ (Bustle)
Also, I wrote something else this week, if you want to take a look!
To go out in the cold winter, I walk outside for at least a half hour everyday, swim at the public indoor pool or go to a hot yoga studio. The outdoors is beautiful, and I practice plant, insect and wildlife ID
Thank you for your honesty about being mad about how to spend more money just because it’s cold outside! Where I live in Minnesota we embrace the cold and get out with friends and family by sledding, ice skating and ice fishing. All of which are low cost things to do. We also just hang out together on weekends drinking coffee and share mealtimes together to be with each other. I have lived in warmer climates but I always end up back here and I really do enjoy the cold weather!