enRICHed: volume 71
Let's hear it for the girls!
Sunday March 10, 2024
Volume 71
IWD Recap
International Women’s Day was Friday, and I received +10 emails from brands trying to sell me something in celebration. Shoutout to ThirdLove whose email actually asked me to donate to I Support The Girls, a nonprofit that helps women who are homeless, impoverished and distressed.
We asked the besties to share in our chat the personal and professional accomplishments they are most proud of as women. Below you’ll find answers from the BFF team:
Vivian
Professional: NYT bestselling book. Personal: hired a trainer to help kickstart getting healthy, fit and strong again!
Meigs
Professional: being able to juggle my full time job as well as 2 “side hustles” (this newsletter + coaching youth girl’s lacrosse). Personal: staying under budget on my wedding!!!
Grace
Professional: getting to run the live Rich AF tour shows. Personal: reading 75 books last year
Katrina
Professional: dealt with corporate layoffs and successfully emerged more resilient than ever (all thanks to the love and confidence from building the YRBFF team). Personal: hit my 1 year in NYC and built out a lil home! I had moved across the country alone but now found a community.
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.
Work from Suitcase 🧳💻
We are all familiar with the “digital nomad” concept after the pandemic forced everyone to WFH, or allowed people to WF-anywhere. As Instagrammers have made “van-life” look fabulous, the realities are much different. A new study from MBO Partners shows how Digital Nomadism has evolved in recent years.
17.3 million Americans, 11% of the workforce, describe themselves as digital nomads.
This number is up 131% from 2019 (pre-pandemic)
What does this mean? Digital Nomads are defined as people who embrace a location-independent, technology-enabled lifestyle
In 2023, the number of American digital nomads with traditional jobs decreased by 4% as employers are calling them back to office.
The study showed that on average, digital nomads are happier with their work and lifestyle vs. traditional workers. Main reasons for this are being able to travel, better work/life balance, experiencing new cultures and meeting new people.
However, Harvard Business, Forbes and VICE have outlined that the flipside of this lifestyle can be challenging for most.
Effort involved in this lifestyle includes finding short-term housing, health care, financial services, and education. Stable Internet can also be difficult to maintain, as well as space to work that doesn’t have too many distractions.
HYCU; girlboss does a “Digital Nomad Diaries” series that features people who are living this lifestyle in real time. It’s interesting to see the challenges from the study reflected in their stories. They speak about taking meetings in different time zones, missing important events at home, and trouble maintaining long-term relationships.
Get the Degree 🎓📜
New data from the Fed shows that the wage gap between those with a high school degree and those with a college degree continues to widen.
In 2023, college grads age 22-27 earned $24,000 more annually than those in the same age range with only a high school degree
That means that even though the latter group has been working for longer, they are still earning less
Another economist found that the wage premium can double over a worker’s lifetime (growing from 27% premium at age 25 to a 60% premium at age 55)
Even if you aren’t graduating into immediately higher earnings, those earnings grow significantly over a lifetime
Education also comes with benefits like workplace flexibility, leave, and insurance
Not having to clock in and out at certain times, and being paid on salary vs. hourly is extremely impactful as you age and gain more autonomy
HYCU; with the cost of college rising, recent conversations have focused on whether or not college is worth it. The short answer? Yes, it is.
Women in the Workplace 👩💻👩🎓
Women are entering the workforce at pre-pandemic levels. A new report from Moody’s found that women across the US, EU, Japan, Australia, and most Asian and Latin American countries are all returning to work.
Note: men are working at higher rates in all of these countries.
Globally, the narrowing of gender gaps in labor force participation since 2019 has added $1.5 trillion to global income (Moody’s)
Coming out of the pandemic, a tighter market asked for more women to patriciate. Further, remote work and hybrid schedules have allowed women more flexibility to juggle both.
But also, maybe not as positive, is the cost of living globally has steadily increased, meaning household budgets need to increase as well.
HYCU; interesting to note, is that in the US, women participation rates are lower due to lack of affordable child care options, as well as poor options in paid parental and family leave. It’s crazy to think that it’s a better financial decision to work as a stay at home mom (unpaid) vs. go to work and pay for childcare.
Grocery Wars 🚗🛒
After shares of Hello Fresh plummeted 40% this week, shocking the street after they shared they have lost +1 customers since 2022, the grocery landscape has been part of the conversation
Target, Walmart and Amazon are all competing with traditional grocery stores, offering same day delivery alongside other membership options.
The big announcements this week:
Walmart will start offering “early morning on-demand” which delivers orders placed before 6 AM in an hour or less
This costs an extra $10 for non-Walmart+ members (who spend 76% more than average shoppers)
Target announced that unlimited same-day deliveries will now be under a subscription model.
HYCU; as someone who hates the idea of other people shopping for my specific grocery list, I don’t personally love these programs but I can understand how they help busy households and especially working parents. It’s interesting to see other companies bundling (below) to try to add new users to their platforms along with helping Walmart/Target incentivize customers
Here’s the breakdown of each:
Walmart+ = $98/year (includes free same-day delivery, a gas discount, and free Paramount Plus)
Target Circle 360 = $49/first year; $99/year after that (1 hour same-day delivery, free 2-day shipping)
Amazon Prime = $139/year (free delivery, streaming, music, etc.)
Rich Tip of the Week: Level Up Your Income
Great Sale #1: this Ninja blender is one of the best things I got off my wedding registry. It PULVERIZED full oranges, lemons, ginger and turmeric into a smooth juice without having to worry about needing an entire new appliance. It also comes with single serve cups for those who love to be on the go. Take a look if you’re in the market ;)
Great Sale #2: First Aid Beauty’s Friends and Family sale is ON, 25% off with code FAMFIRST - the sale includes their famous Ultra Repair Cream and KP Bump Eraser
Something I read this week: Is It Possible to Be an Individual on the Internet? by
For the AI curious: Axios Explains: How to use ChatGPT, Copilot and Gemini AI tools
Something I watched this week: I went to go see & Juliet on Broadway with my colleagues for an IWD outing and it was PHENOMENAL. If you are a New Yorker, tri-stater or visting soon, I highly highly recommend.
SEE YOU IN THE COMMENTS BESTIES
Thanks so much for the mention! ❤️ Really great content here, too!
I loved reading all the personal and professional accomplishments from this article and the messaging thread!!❤️