Women own less, save less, carry more debt, and are less financially literate than men. That changes now.
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Get answers straight from the career and finance pros.
We asked you to vote on a question you’d like answered. The winner was:
What’s the difference between good debt and bad debt?
FEATURED EXPERT:
Kristin O’Keeffe Merrick
Financial advisor and money expert at O’Keeffe Financial Partners
All debt falls into a spectrum in terms of “good vs. bad.” Good debt is generally manageable and has a modest interest rate where payoff is reasonable and achievable. One example is a mortgage, which is a debt that allows you a window of time to pay back what you borrowed plus interest while slowly accumulating equity in your property or home. Bad debt has high-interest rates (think: credit cards) that compound on a daily basis, accumulate, and can quickly get out of control.
This interview has been edited and condensed for clarity. You can read the full version here.
money win
An inside look at how women are building wealth.
“I was able to put $23,000 down on a brand new 2024 Chevy Trax! I’m super proud of myself for funding almost all of it upfront. I’ve got a $9,000 loan, which I am hoping to pay off sometime next year.”
— Catherine M (VA). If buying a car is also one of your 2023 goals, using the right savings account and shopping around for the best rate can make a huge difference.
Scored a raise, saved up for a big purchase, or reached another money goal? Tell us about it here. Quotes are edited and condensed for clarity.
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investment piece
The items celebs and influencers think are worth the big bucks.
Marco Zamora, an interior design and home decor influencer, knows a thing or two about making a space beautiful. Below, he’s shining a light on an investment piece that adds a warm glow to his home and might even appreciate in value over time.
What’s a recent purchase you made that felt like an investment?
I just purchased a vintage Louis Poulsen Panthella Floor Lamp. “Big lights” are a big no in my house. I love to incorporate warm and moody lamps in my space.
How much did it cost?
I bought it off Etsy for $810.
Why do you consider it a good investment?
The Panthella Floor Lamp was designed for Louis Poulsen in the 1970s. The design is timeless and would look great in any home. While my lamp is a vintage piece, the model is a classic and is still being made to this day (see here). Vintage lamps can be a great investment because they have the potential to retain or appreciate in value.
Answers have been edited and condensed for clarity.
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