enRICHed: volume 64
the comments section is our happy place đ¤
Sunday January 21, 2024
Volume 64
1-800-Accountability
Okay so LOTS of people loved talking about their outside winter hobbies last Sunday, which made me so excited - check out the comments from last Sundayâs post to see for yourself!
Itâs funny, Vivian did this whole accountability thing last year about âtouching grassâ and I laughed a little at the touch-grass part, but the concept itself is real. For the past week Iâve said to myself that even though itâs cold outside, I told the besties that going outside in the cold was good for the soul and now I must practice what I preach. With that, I have been suiting up to work out and walk outside and it feels invigorating. Shoutout to this community for keeping me honest. Whether we are helping each other out with financial decisions, hyping each other up for that year-end conversation at work, or encouraging each other to find affordable, healthy hobbies that fill our cups - the BFF community effect here is thriving. Happy Sunday everyone!
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 đ
We love your comments, but please remember to keep it positive! And donât take investing advice from anyone who isnât your registered financial advisor!
Now that youâre up to speed, letâs get you enRICHed. â Meigs
Tweens take Sephora đđď¸
TikTok has been flooded by videos of girls ages 10-13 taking over Sephora, but they arenât just there for the testers - they are there to spend.
Traditionally, this demographic has shopped at pharmacies, and other low-cost retailers. But social media has changed that landscape, and now higher quality and higher priced items are making their way into tweensâ daily routines.
Sephora sells labels like Drunk Elephant, Glow Recipe, Laneige and more - all of which have been reported to be filling the carts of âSephora 10-year-oldsâ
Consultants in the space have noticed packaging changing to neon colors and floral smells, anything to attract a younger audience.
A mother who was interviewed on the topic said, âI have mixed emotions about it. I feel like this younger generation, they learn faster, they get information faster, and it allows them to be little experts in big spaces. I donât want to limit my kidsâ creativity, but there is a very fine line between maturing them before their lime and investing in their interest.â
HYCU; social media is turning younger generations into consumers earlier and faster than ever. Places like Sephora are capitalizing on influencers pushing girls toward skincare and makeup routines when they are the age of wanting to look and act older. Would love to hear from parents out there who have girls this age - how do you handle this type of spending? Do you draw lines on where your children can spend their allowance?
Mastercard AI đ¤ Small Business Owners
This week, Mastercard announced a new business venture for small business partners called Mastercard Small Business AI
âOperating a small business is a point of immense passion and pride for entrepreneurs, but itâs certainly not easy. We are working closely with small business owners at all stages of development and seeing the myriad of challenges they face and the critical importance of mentorship to their successâ - Raja Rajamannar, CCO/CMO Mastercard
In an act to show support, mentorship, and to recognize the importance of the small business economy, Mastercardâs tool hopes to provide real-time, customized guidance.
Mastercard is partnering with Create Labs, Blavity Media Group, Group Black, Newsweek, and TelevisaUnivision to train the AI tool. The partnerships will bring diverse content to Mastercardâs existing repositories of data and information.
HYCU; most small business operate without employees and 88% say they need mentors. Mastercard is hoping to use Gen AI to close this gap. The tool, which will launch later this year, will be trained to give insights on business planning, raising capital, managing technology, loans, and other materials specific to their industry and the challenges they face.
93 or 40? đŞđ§
Richard Morgan did not begin sports or training until age 73, making him a unique subject for the Journalâs study. During retirement, he found rowing through one of his grandsons, and âhe never looked back.â
During a 2000 meter row, Morganâs heart rate peaked at 153 bpm, one of the highest peaks ever recorded for someone in their 90s - showcasing his strong heart and cardiovascular health. Researchers said it was one of their most inspiring days of work ever.
So what did they find? Morgan exercises every day for around 40 minutes, mixing easy (70%), moderate (20%) and intense (10%) training. 2-3x a week he includes weights and he eats a high protein diet. He is proof that we donât have to lose muscle as we age, but can maintain strength through exercise. He is also proof that it is never too late to start.
HYCU; why does this matter financially? Americans spend billions of dollars a year on chronic disease and as they age, the probability and cost of injury goes up. If small changes like exercise can keep your body up and running, your quality of life doesnât just improve but the amount of you can save by avoiding medication, hospital visits, in home care, and more can change as well. Obviously healthcare related expenses are not entirely avoidable, but this inspiring research shows that the excuse of ânever having worked out beforeâ should not be enough to keep us on the sidelines! And you donât need $40 fancy workout classes to do it!
The Train Fare Conundrum in England đđď¸
Englanders are being charged 2x as much for buying physical tickets at the station vs. e-tickets online.
A study done in the UK showed that online tickets are cheaper 75% of the time. On average, the station tickets were 52% more expensive!
Which? the consumer group that ran the study, found some crazy differences. One same-day, one-way ticket was ÂŁ66 at the machine vs. ÂŁ26 online.
The machines donât usually have flexibility for âadvance ticketsâ which can often be cheaper, a reward for planning in advance. Which? also found that that machines lack necessary information, and if you are in a hurry, you could be subject to a more expensive ticket just because you were confused or missed the fine print.
HYCU; I say this all the time to my husband now that we are driving more for errands. Everywhere we go, the meters ask you to text a number and pay for parking via Apple Pay or an app - what happens if you donât have a smart phone? Why canât we just use quarters if we have them? This is a great example of those without internet access or smartphone access being penalized via higher fares. Sometimes the transition to more online options are not better for our wallets or our sanity.
Rich Tip of the Week: Tax Changes in 2024 You NEED to Know
Something I cooked this week: Squash and Lentil Soup by Alison Roman has been on rotation for 2 weeks now, so delicious and a great vegetarian option even for the omnivores in the house (itâs also low cost and freezer friendly)
Something I read this week: âYou Donât Need to Document Everythingâ by Freya India really got me thinking about how online we all are.
Something I listened to this week: Vivâs friend Victoria Brown did a podcast of body affirmations to help on days when you need a reminder that you are more than your size:
Somethings I loved this week:
2 duuuuupes: this Bottega Venetta dupe for all of us who canât afford the price tag but love the look && these Gucci loafer dupes that I need someone to try so I can buy them for myself
I started Tomorrow and Tomorrow and Tomorrow by Gabrielle Zevin and am loving it (do we need a BFF book club?!)
I saw my friend wearing THESE slingbacks at an event on Friday and she said after hours on her feet she was still comfortable (I want black patent leather ones, but how cute are all of the colors)
How much do you think the iconic Sex and The City tutu went for at auction?
SEE YOU IN THE COMMENTS BESTIES
BFF book club? Yes, please!
Tomorrow and Tomorrow and Tomorrow is SO GOOD!!!!! I LOVED it!!!!!!