Skimm Money: Treasury Yields, Work-Life Balance, and PTO

How the news affects your finances.

What's the Deal With Treasury Yields?

Last week, the 10-year Treasury yield hit a 16-year high — reaching 5.021% — and it could have a ripple effect on the economy. The reason: When the yield goes up, so do the costs of borrowing. Ex: Companies might not be able to access as much capital as they would like, which can affect the job market (because less money can = fewer jobs). A high yield can also put credit and loans out of reach for consumers, affecting their spending power. Plus, when yields are high, bonds look like an attractive investment option, which can cause stocks to slump. On the upside, a high yield usually also means a stronger dollar.

Your move:

• Stay the course on retirement savings. Stocks may slump a bit, but when you’re investing for the long term, staying the course is your best strategy. Note: High yields can be a great time to diversify your portfolio with bonds.

• Plan for large purchases. Higher yields mean higher interest rates for mortgages, car loans, and credit cards. If you’re looking to buy a home or a car, consider making a larger down payment to avoid high interest rates. And if you’re carrying credit card debt, pay down your balance as much as you can.

• Open a high-yield savings account. High yields are usually good news for savers. Today, some HYSAs have APYs over 5%, making them a great place to park cash you don’t need immediately. Think: Your emergency fund.

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By finding a mentor who gets it.

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Longer average lifespans. Higher health care costs. Career breaks. Caregiving responsibilities.

These are just a few of the things that uniquely impact women’s financial and career goals. The good news? There are steps you can take to stay on track, like attending Fidelity’s next Women Talk Money event on Nov. 1 at 12 pm EST (psst…that’s this Wednesday). Our very own co-founder and co-CEO, Danielle Weisberg, will join the discussion. Trust us, you don’t wanna miss it. RSVP here.

The Wall Street trends to know this week.

After a rough week, the S&P 500 and the NASDAQ rallied this morning. Just in time for busy week of big decisions and data releases. Up first: The Fed’s meeting on Wednesday where the central bank is expected to press pause on rate hikes. Then, on Friday, October's job report will shed some light on the state of the labor market. Expect wage data to be a hot topic of conversation.

One act of financial self-care you can do in five minutes.

Plan out your PTO for the rest of the year.

According to a Pew Research Center survey, 46% of American workers say they take less time off than they’re offered. If that sounds like you, here’s a friendly reminder: Not taking your PTO means you’re leaving money on the table. Hint: Remember the paid in paid time off. With the holidays coming up, now is a good time to send an email to your boss to request a few days — or a week (or two) — of some much-deserved OOO time.

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