Index

  •  
  • AAPI (Asian American Pacific Islander) community, 14. See also BIPOC (Black, Indigenous, and People of Color) communities
  • Abkarians, Chris, 245–248, 257
  • Accommodations, travel, 37
  • Accomplishments, list of, for negotiation, 52–53
  • Account(s):
    • older, keeping open, 232
    • simplifying your, 166
    • user names/passwords for, 265
  • Accountability, 90, 264
  • Accountant, hiring an, 210
  • Accountants of Color, 210
  • Actively managed funds, 138–139
  • Adjustable-rate mortgages (ARMs), 167
  • Adjusted gross income (AGI), 212–213
  • Advanced directives, 216
  • Advisor, fee-based vs. fee-only, 133
  • Advocates for change, 13
  • Affordable childcare, 24, 46, 48
  • Agency, financial, 22
  • Agenda, for money parties, 264–265
  • Agent Accelerator Academy, 166
  • “Aggressive” investing, 120
  • AGI (adjusted gross income), 212–213
  • Ali, Suraiya, 245–248
  • Aliche, Tiffany, 11–12, 74–75, 156, 194
  • Allocation:
  • All-or-nothing thinking, 89
  • Alternative investments, 139, 152
  • AM Best ratings, 198
  • “American Dream,” 155
  • American Indian households, 14. See also BIPOC (Black, Indigenous, and People of Color) communities
  • Anastasio, Lauren, 29, 35, 102, 105, 135, 195–198
  • Annualized return, 128
  • Annual negotiation cycle, 54–55
  • Annual percentage rate (APR), 172, 238
  • Antisemitism, xi
  • Approval process, mortgage, 170
  • Apps, investment, 146
  • APR (annual percentage rate), 172, 238
  • ARMs (adjustable-rate mortgages), 167
  • Asian American Pacific Islander (AAPI) community, 14. See also BIPOC (Black, Indigenous, and People of Color) communities
  • Assets. See also Investment(s)
    • calculating your, 76
    • protecting your, 78–79 (See also Insurance)
    • and your will, 217–220
  • Asset allocation, 110, 112–114, 117, 146–147
  • Attorney:
    • estate planning, 220
    • real estate, 159–160
  • Audit, pay equity, 47
  • Authorized users, credit card, 234
  • Automatic payments, 230
  • Automatic transfers:
    • for donations, 92
    • for retirement, 118
    • for sinking funds, 67
    • and your financial plan, 74
  • Avalanche method of paying student loan debt, 251
  • Awareness:
    • money, 7
    • spending, 61–63
  •  
  • “Backdoor Roth IRA,” 100
  • Back-end DTI ratio, 170–171
  • Balance(s). See also Debt
    • bank account, 76
    • credit card, 77, 226–229, 238
    • maintaining a, 226–227
    • and net worth, 78
  • Bank(s), 90–92
  • Bank account(s):
    • as available cash, 252–253
    • balance of, 76
    • inflows in your, 42
    • nicknames for your, 278
    • with a partner, 79
    • revocable trust, 219
    • walkaway fund, 33–34
  • Bankruptcy, 188, 255
  • Baradaran, Mehrsa, 12
  • Base salary, 55
  • Basic Benefit plan, 98
  • Bear market, 149
  • Benchmarks, 139
  • Beneficiary(-ies):
    • estate, 217–218
    • life insurance, 194–195
  • Benefits, in compensation negotiation, 55
  • Betterment, 130
  • Bias. See also Equity in personal finance; Racism; Wealth gap(s)
    • addressing systemic, 53
    • in company practices, 47–48
    • and digital mortgages, 169
  • BIPOC (Black, Indigenous, and People of Color) communities, 8–9, 15. See also Black community(-ies)
    • accountants from, 210
    • history of exploiting, 14–17
    • and inclusive investing, 127
    • student loans in, 247–248
  • Bitcoin, 106, 153, 154
  • Black community(-ies). See also BIPOC (Black, Indigenous, and People of Color) communities
    • homeownership in, 61, 156
    • student loans in, 247–248
    • wealth gap for women in, 11
    • women as breadwinners in, 25
  • Black eXp Network, 166
  • Black Wall Street (Tulsa, Okla.), 16
  • Bonds, 111, 117, 137
  • Bonuses, 55
  • Brand research, for consumer activism, 89
  • Bravely Go, 82
  • Broadly diversified funds, 139–140
  • Brody, Lauren Smith, 52, 54
  • The Broke Black Girl, 12–13, 61
  • Broke Millennial (Lowry), 278
  • Brokerage account(s):
    • apps for, 146
    • choosing a, 142–144
    • definition of, 135
    • investing with, 130, 138
    • and IRA investments, 99
  • Broker fees, for home sale, 159
  • Bubble (investment), 149
  • Budget:
    • for car purchase, 258–259
    • considerations, 83
    • for dependent care, 36
    • health and safety, 74–75, 254
    • for health care expenses, 185–187
    • for home purchase, 156–157, 166–167
    • relocation, 55
    • for starting a business, 36
    • for starting a family, 35–36
  • The Budgetnista (Aliche), 11
  • Buffett, Warren, 126, 214–215
  • BuildingBread, 16
  • Bull market, 149
  • Burey, Jodi-Ann, 53
  • Business, cost to start, 36
  • Buyer's budget, 166–167
  • Buying:
    • consumer activism and decision not to buy, 85
    • renting a home vs., 155, 157
  • Buying power, 81
  •  
  • Capital gains tax, 150, 206
  • Captive insurance agents, 197
  • Career Contessa Salary Project, 50
  • Car insurance, 191–193
  • Car loans, 77
  • Car purchase debt, 258–259
  • Cash:
    • available, 252–253
    • paying in, 61
    • tracking use of, 252–253, 267
  • Certified financial planner (CFP), 134
  • Change, see Consumer activism
  • Chapter 11 bankruptcy, 188
  • Charity Navigator, 92
  • Childcare:
    • cost of, 11, 35
    • high-quality and affordable, 24, 46, 48
    • lack of, 18, 20
  • Children:
    • adding, to your health insurance, 182
    • appointing guardians for your, 217–218
    • college savings for, 120
    • and life insurance decisions, 198
  • Climate, impact of decisions on, 82–83, 85, 87
  • Closing costs, 158–160
  • Clothing, secondhand or consignment, 83–84
  • Coalition building, 24
  • COBRA, (Consolidated Omnibus Budget Reconciliation Act), 182
  • Cohabitation agreements, 78–79
  • Coinsurance, 180
  • Colleagues, comparing salary to, 50
  • Collective good, 82
  • College, 120–122. See also Student loan(s)
  • College Scorecard, 246
  • The Color of Money (Baradaran), 12
  • Commissions, 143, 197
  • Communication:
    • with credit card companies, 240
    • with political leaders, 64
  • Company size, market capitalization and, 139–140
  • Compensation, 43, 55
  • Compound interest, 95–96, 238
  • Comprehensive and collision car insurance, 192–193
  • Condo, purchasing a, 162
  • Confidence, in salary negotiation, 52
  • Consignment stores, 83–84
  • Consolidated Omnibus Budget Reconciliation Act (COBRA), 182
  • Consolidation, of student loans, 245
  • Consumer activism, 81–94
    • bank choice, 90–92
    • brokerage account choice, 143
    • definition of, 81
    • inspiration for, 81–84
    • in investing, 140–141
    • as lens for spending audit, 85–87
    • and not buying anything, 85
    • with a partner, 93
    • and practice of giving, 92–93
    • ranking criteria for, 84
    • shifting purchases for, 87
    • step by step process for, 88–89
    • and updating your spending plan, 93, 276
    • and using your voice, 85
  • Conventional loans, 167
  • Cooke, Henry, 15
  • Co-op, purchasing a, 162
  • Copay, and health insurance, 180
  • Corrections, market, 149
  • COVID-19 pandemic, 14, 20, 37, 189
  • Credit, 25
    • building, 231–233
    • new, and credit score, 230
    • repairing, after report errors, 234
  • Credits (mortgage), 172
  • Credit card(s):
    • authorized users of, 234
    • balance on, 228–229
    • compound interest on, 238
    • how they work, 238
    • information, unsaving, 61
    • late fees with, 240
    • maintaining a balance on, 226–227
    • number of, 235
    • opening, 233
    • refinancing debt on, 258
    • secured, 234
    • taking inventory of your, 240–241
  • Credit card companies, communication with, 240
  • Credit card debt, 28, 30, 77, 237–242
  • Credit card payments, 241, 267
  • Credit checks, 223–224
  • Credit history, 229–230, 235
  • Credit Karma, 225
  • Credit limit, 232, 237
  • Credit reports, 224–225
  • Credit score(s), 223–236
    • and car insurance rates, 192
    • checking your, 226
    • and FHA loans, 168
    • and financial well-being, 223–224
    • finding your, 225–226
    • frequently asked questions about, 233–235
    • and homeownership, 165, 166
    • increasing your, 224–225, 231–233
    • makeup of, 227–231
    • myths about, 226–227
  • Credit Sesame, 225
  • Credit utilization, 228–231
  • Crenshaw, Kimberlé, 18
  • Cryptocurrency, 153. See also Bitcoin
  • Culture, sharing your, 73
  • Culture of investing, 126
  • Current expenses, 58
  • CV (curriculum vitae), 52
  •  
  • Dakota Access Pipeline, 90
  • Deadline, tax, 208
  • Death benefit, 194–195
  • Debt, 237–259. See also Student loan(s)
    • ability to take on, 223
    • avoiding overpayment on, 252
    • cancellation of, 22–23
    • from car purchase, 258–259
    • credit card, 237–242
    • deferment or forbearance of, 254–255
    • inventory of your, 249–250
    • and life insurance, 195
    • medical, 24
    • paying down, 28, 250–254, 275
    • refinancing of, 174–175, 255–258
    • relationship with, 136
    • shame about, 239–240
  • Debt-to-income (DTI) ratio, 170–171
  • Declaration page, of car insurance, 191–192
  • Decor, home, 161–162
  • Deductible:
    • health insurance, 180–181, 183–184
    • homeowners insurance, 190
  • Deferment, of student loan debt, 254–255
  • Dependents, tax filings by, 213
  • Dependent care, 36, 187
  • Digital mortgage companies, 169–170
  • Disabilities, people with:
    • medical debt for, 188
    • permanent insurance for, 196
    • wage gap for, 46
  • Disability insurance, 199–201
  • Disability planning documents, 216
  • Discount points, mortgage, 172
  • Discrimination, see Equity in personal finance; Wealth gap(s)
  • Diversification, of investments, 111
  • Dividends, reinvesting, 149
  • Divorce, planning for, 78–79
  • Dollar-cost averaging, 150
  • Domestic violence, 34
  • Donations, making, 92–93
  • Double bind, for women, 49–50
  • Double health insurance, 183
  • Double-spending, 85
  • Double X Economy, 19–21
  • The Double X Economy (Scott), 19
  • Douglass, Lori Anne, 216–220
  • Douglass Rademacher LLP, 216
  • Dow Jones Industrial Average, 139
  • Down payment, estimating your, 157–158
  • Dry cleaners, avoiding, 63
  • DTI (debt-to-income) ratio, 170–171
  •  
  • Early retirement, 105–107
  • Earnings, increasing, 43
  • Ebrahimian, Setareh, 47
  • ECOA (The Equal Credit Opportunity Act of 1974), 19, 90
  • “Eco-friendly” products, purchasing, 85
  • Economic infrastructure, 24
  • Economic libel, xi
  • Education:
    • about personal finance, 12, 26
    • college, saving for, 120–122
  • Egg freezing (fertility treatment), 185
  • El-Amin, Cinneah, 36–37
  • Elder dependents, care for, 36
  • Ellevest, 13, 103, 126, 130, 151
  • Emergency funds:
    • rainy-day funds for, 28, 29, 32–33
    • for your home, 160–161
  • Emotional investing, 110, 130, 131
  • Emotional method for paying student loan debt, 251
  • Emotional ties, to money, 3–4
  • Employee resource group (ERG), 52
  • Employer:
    • health insurance from your, 181
    • life insurance from, 195–197
  • Employer match:
    • for donations, 92
    • 401(k) contributions, 29–30, 55, 97
  • End-of-life decisions, 216
  • Environment, best choice for, 82–83, 85
  • Environmental, social, and governance (ESG) funds, 115, 140–141
  • The Equal Credit Opportunity Act of 1974 (ECOA), 19, 90
  • Equality:
    • equity vs., 25
    • financial, 90–91
  • The Equal Pay Act (1963), 19, 47
  • Equal Pay Day calendar, 45
  • Equal pay policy, 47
  • Equifax, 224–225
  • Equity (company ownership), 55
  • Equity in personal finance, 11–26. See also Racial disparity; Wealth gap(s)
    • and Double X Economy, 19–21
    • education in, 26
    • equality vs., 25
    • gender, wealth gap, 17–22
    • and history of BIPOC exploitation, 14–17
    • policies to improve, 22–25
    • and politics, 11–13
    • racial, wealth gap, 13–14
    • and wealth disparity, 11
  • ERG (employee resource group), 52
  • Errors, credit report, 224–225, 234
  • Escrow fees, 159
  • ESG (environmental, social, and governance) funds, 115, 140–141
  • Espinal, Yanely, 278
  • Estate planning, 216–220
  • Estate tax, 206
  • ETF (exchange-traded fund), 111–112, 153
  • Ethereum, 153
  • Ethical funds, 115
  • E-trade, 135
  • Exchange-traded funds (ETFs), 111–112, 153
  • Executor, estate, 218
  • Expenses:
    • cancellation of, 88
    • credit card payments as, 267
    • current, 58
    • dependent care, 187
    • irregular, 64–65
    • maintenance, 162
    • prepaid, 159
    • recurring, 88
    • reimbursable work, 267–268
    • “small,” 68–69
    • technology to track, 4
    • “trying on” homeowner, 164
    • variable, 58
  • Expense planning. See also Financial plan
    • avoiding pitfalls in, 68–69
    • mapping out, 57–60
    • for multigenerational living, 61
    • and Pink Tax, 63–64
    • setting up a sinking fund, 64–67
    • spending awareness, 61–63
  • Expense ratio, 115–116
  • Experian, 224–225
  • Experian Boost, 233
  • Expert advice, on investing, 150–151
  • Extended repayment option, 243
  • Extension, tax filing, 208
  •  
  • Fagan, Chelsea, 278
  • Family(-ies):
    • cost to start a, 35–36
    • health insurance in, 181, 182
    • permanent insurance in, 196
  • Family and Medical Leave Act (FMLA), 201
  • Fast fashion, 83–84
  • Federal Housing Administration (FHA), 16–17, 90, 168
  • Federal student loans, 243–246, 257
  • Federal Trade Commission (FTC), 224
  • Fees:
    • brokerage account, 143
    • credit card, 242
    • investment, 118
    • mortgage, 159
  • Fee-based advisors, 133
  • Fee-only advisors, 133
  • Fee-only fiduciaries, 133
  • Feminism, 24–25. See also Mothers; Women
  • Fertility treatments, 35, 185
  • FHA, see Federal Housing Administration
  • FICO score, 225, 227–231. See also Credit score
  • Fidelity, 127, 135
  • Fiduciaries, fee-only, 133
  • Fiduciary standards, suitability vs., 132
  • The Fifth Trimester (Brody), 52
  • Filing status, tax, 207
  • Financial activism, 34. See also Consumer activism
  • Financial adulting:
    • barriers to, 1–5
    • definition of, 6–9
    • impetus for, 1
    • optimism about, 5–6
  • Financial advisors, 132–133, 152
  • Financial aid office, 247, 248
  • Financial assistance programs, for first-time homebuyers, 168
  • Financial coaching, 261–262, 277–278. See also Money parties
  • The Financial Diet, 278
  • Financial directives, 216
  • Financial Independence/Retire Early (FI/RE) movement, 106–107
  • Financial knowledge, shame about lack of, 2–3
  • Financial plan. See also Expense planning
    • and automatic transfers, 74
    • calculating your, 69–72
    • creating, with partner, 45, 72–73
    • definition of, 41–42
    • and health/safety budget, 74–75
    • including sinking funds in, 67
    • inflows for, 42–45
    • and protecting your assets, 78–79
    • and tracking your net worth, 75–78
  • Financial planners, investing with, 134
  • Financial power of attorney, 216–217, 219–220
  • Financial services industry, 3
  • First-time homebuyers, 168
  • Fisher Phillips, 47
  • Fitzgerald, Jennifer, 179, 197–198, 202
  • 529 plans, 120–122, 212
  • Fixed-rate mortgages, 167
  • Flexible spending accounts (Fas), 43, 186–187, 212–213
  • Flood insurance, 189–190
  • Flynanced, 36–37
  • FMLA (Family and Medical Leave Act), 201
  • Forbearance, of student loan debt, 254–255
  • 401(k) plans, 43
    • matching contributions in, 29–30, 55
    • for retirement, 96–98, 101–102
    • rolling over your, 119–120
    • tax deductions, 211
    • vesting in, 119
  • 403bwise (nonprofit), 98
  • Four-week months, expense planning for, 69
  • Fractional shares, 146
  • Fraser, Jane, 126
  • Freedman's Savings Bank, 15
  • Freelance work, 208
  • Front-end DTI ratio, 170
  • FSAs, see Flexible spending accounts
  • FTC (Federal Trade Commission), 224
  • Fun, making money parties, 262
  • Fund(s):
    • actively vs. passively managed, 138–139
    • broadly diversified, 139–140
    • environmental, social, and governance, 140–141
    • index, 111–112, 148
    • money market, 111
    • mutual, 111–112
    • researching, 115–118
    • types of, 111–112
  •  
  • GDP (gross domestic product), 21
  • Gender disparity, 5, 8–9. See also Wealth gap(s)
    • in ability to retirement, 107
    • in disability insurance costs, 200
    • and the double bind, 49–50
    • in investing, 125–126
    • in personal finance, 17–22
    • and the Pink Tax, 63
  • Gender-neutral pricing, 63
  • Gentry, Fee, 166, 168–169, 171
  • Geographic regions, portfolio diversification in terms of, 139–140
  • Get Good With Money (Aliche), 12, 74
  • Giving, practice of, 92–93
  • Glassdoor, 50
  • Goal(s). See also Money goals
    • allocation, 31
    • of homeownership, 157
    • incorporating your, 69
    • revisiting contributions to your, 272
    • savings, for homeownership, 163–165
    • short, medium, and long-term, 137
    • tracking progress on, 273
    • using automatic deposits to meet, 74
    • visual presentation of, 274
  • “Golden rule,” of personal finance, 42
  • Governmental policy, 12–13
  • Graduated repayment option, 243
  • Grauerholz, Liz, 63
  • Great Recession, 108
  • Green, Emily, 126, 151
  • Gross domestic product (GDP), 21, 48
  • Gross monthly income, 170
  • Guardians, for your children, appointing, 217–218
  • GuideStar, 92
  •  
  • Happiness allocation, 41, 135
  • Hard inquiry, credit score, 226, 255
  • Harvard Business Review (HBR), 53
  • HCV (housing choice voucher) program, 168
  • HDHPs (high-deductible health plans), 183, 186
  • Head of household, filing status, 207
  • Health and safety budget, 74–75
  • Healthcare directives, 216
  • Healthcare expenses, 185–187
  • Healthcare proxy, 216–217, 219–220
  • Healthcare reform, 24
  • Health insurance, 179, 180–189
    • budgeting for, 185–187
    • choosing your, 183
    • deductible, 180–181
    • direct purchase of, 181–182
    • double, 183
    • negotiating with providers of, 184–185
    • terminology in, 180–181
    • treatment exclusions in, 185
    • when to get, 182
    • where to get, 181–182
  • Health maintenance organizations (HMOs), 183
  • Health savings accounts (HSAs), 43, 183, 186, 212
  • Hester, Tanja, 81–82, 85, 87, 90, 92
  • High-deductible health plans (HDHPs), 183, 186
  • High-net-worth individuals, 139
  • Hiring, internal, 47–48
  • Hispanic families, wealth gap for, 13–14
  • HMOs (health maintenance organizations), 183
  • HOA (homeowner's association), 162
  • HOLC (Home Owners Loan Corporation), 16–17
  • Home:
    • broker fees for sale of, 159
    • market value of, 76
    • updates/renovations and decor for, 161–162
  • Home emergency fund, 160–161
  • Home inspection, 159–160
  • Homeowner's association (HOA), 162
  • Homeownership, 155–177
    • in Black community, 61, 156
    • cost of, 157–165
    • down payment for, 34
    • factors to consider for, 155–157
    • financial preparation for, 165–172
    • and mortgage paydown, 173–174
    • with a partner, 173
    • and refinancing, 174–175
    • and REITs, 175–176
    • saving for, 164–165
  • Homeowners insurance, 159–160, 179, 189–191
  • Home Owners Loan Corporation (HOLC), 16–17
  • Homestead Act (1862), 15
  • “House poor,” 157
  • Housing choice voucher (HCV) program, 168
  • HSAs, see Health savings accounts
  • Hu, Emily, 53, 140
  • Hunt, Lauren, 78–79, 173
  • Hurricane insurance, 189
  • Hussey, Georgia Lee, 55, 82, 83–84, 112, 114, 122, 130, 134, 141–142, 150, 154, 196, 205
  •  
  • IBR (Income-Based Repayment) plan, 244
  • ICR (Income-Contingent Repayment), 244
  • IdenitityIQ, 225
  • Illiquid estate, 196
  • Immigrants, credit history for, 235
  • Impact, 82–84. See also consumer activism
  • Imposter syndrome, 53
  • Impulsive spending, 63
  • Inclusion, financial, 90–91, 125–127
  • Income. See also Wage gap
    • as financial plan inflow, 42–45
    • gross monthly, 170
    • negotiations over, 48–55
    • from side hustles, 45
    • sources of, 39
    • supplemental, 45
    • taxable, 213
  • Income-based repayment, 243–244
  • Income-Based Repayment (IBR) plan, 244
  • Income-Contingent Repayment (ICR), 244
  • Income-Sensitive Repayment Plan, 244
  • Income tax, 214–215
  • Independent agents, life insurance, 197–198
  • Index fund, 111–112, 148
  • Indigenous People, 15. See also BIPOC (Black, Indigenous, and People of Color) communities
  • Inequality, cost of, 19–21
  • Inflows, financial plan, see Income
  • In-network healthcare, 180, 183, 189
  • Insurance, 179–203
    • car, 191–193
    • disability, 199–201
    • health, 180–189
    • and healthcare, 188–189
    • homeowners, 159–160, 189–191
    • life, 160, 194–199
    • long-term care, 201–202
    • renters, 190–191
    • revisiting need for, 202
    • travel, 37
    • types of, 179
    • umbrella policies, 194
  • Interest:
    • compound, 95–96, 238
    • mortgage, 208
    • student loan, 212
  • Interest-only mortgages, 167–168
  • Interest rate(s), 30, 172, 175, 238–239, 257–258
  • Intergenerational wealth, ix–x
  • Internal hiring, 47–48
  • Internal Revenue Service (IRS), 206, 209, 211, 213, 215
  • International students, credit history for, 235
  • Intersectionality, 18, 25
  • Investing, 28. See also Retirement investments
    • “aggressive,” 120
    • author's story of, 126–127
    • avoiding pitfalls in, 152–153
    • bad behavior related to, 110
    • with brokerage accounts, 142–144
    • changes in strategy for, 151–152
    • culture of, 126
    • definition of, 128–129
    • expert advice on, 150–151
    • with financial planners, 134
    • getting started with, 135–138
    • long-term, 108, 129
    • methods of, 129–134
    • preparing for, 127–128
    • privilege of, 125–126
    • with robo-advisors, 144–145
    • by stock picking, 153–154
    • terminology for, 108–112
    • timing for, 136–137
    • values-based, 141–142
    • on your own, 130
  • Investment(s):
    • allocation for, 135
    • annual check in on, 275–276
    • choosing your, 146–148
    • and consumer activism, 140–141
    • in cryptocurrency, 153
    • publicly traded, 138
    • purchasing or selling, 148–150
    • reallocating, 114
    • rebalancing, 114, 117, 275–276
    • for retirement, 97, 105–106, 114–118
    • tax-free, 97
    • types of, 138–140
    • value, 76
  • Investment apps, 146
  • Investment documents, for tax filing, 208
  • In vitro fertilization (IVF), 35, 185
  • IRA(s). See also 401(k) plans
    • automatic contributions to, 118
    • maximum contribution to, 105
    • researching investments by, 114–117
    • rolling over, 119–120
    • taxes on contributions to, 208
    • traditional, Roth vs., 99–102
  • Irregular expenses, 64–66
  • IRS, see Internal Revenue Service
  • Itemized tax deductions, 212
  • IVF (in vitro fertilization), 35, 185
  •  
  • Jim Crow laws, 17
  • Jointly, filing taxes, 207
  • Journal, money, 61
  • Jumbo mortgages, 167
  • Juno (company), 245
  •  
  • Kennedy, Dasha, 12–13, 25, 33–34, 61
  • Krawcheck, Sallie, 13, 126
  •  
  • Labor, unpaid, of women, 48
  • Labor practices, consumer activism related to, 83
  • Ladies Get Paid (Wasserman), 49
  • Large-cap companies, 140
  • Late fees, credit card, 240
  • Latinas, gender wealth gap for, 11
  • Lawrence, Rachel Sanborn, 103, 107, 135, 139
  • Learning, from financial advisors, 152
  • Lenders, mortgage, 169–171
  • Lending discrimination, 90, 171
  • LGBTQ+ community, 8–9, 185, 207
  • Liabilities, calculating your, 77
  • Liability car insurance, 193
  • Liability limits, for homeowners insurance, 189
  • Lieberman, Alex, 151–152
  • Life insurance, 160, 179
    • amount of, 198
    • definition of, 194–195
    • from employer, 195–197
    • independent agents for, 197–198
    • types of, 195–197
  • Lifestyle upgrades, 58
  • Limit orders, investing, 148
  • LinkedIn, 52
  • Living wills, 216, 219–220
  • Loan(s), 77, 159, 244. See also Debt; specific types
  • Long-term capital gains, 129
  • Long-term care insurance, 201–202
  • Long-term disability insurance, 199–201
  • Long-term goals, 137
  • Long-term investing, 108, 129
  • Los Angeles, Calif., 14
  • Low minimum brokerage accounts, 142
  • Lowry, Erin, 278
  •  
  • MAGI (modified adjusted gross income), 100
  • Maintenance expenses, 162
  • Market cap, definition of, 140
  • Market corrections, 149
  • Market orders, 148
  • Market rate, of compensation, 50–51
  • Market value, of home, 76
  • Married filing jointly status, 207
  • Married filing separately status, 207
  • Maternity leave, 201
  • Matthews, Kevin, II, 16
  • Medicaid, 182, 183
  • Medical bills, negotiating your, 185
  • Medical debt, 188
  • Medical directives, 216
  • Medicare, 182, 205–206
  • Medium-term goals, 137
  • Mehrsa, Baradaran, 12–13, 15–17, 23
  • Meta spending, 88–89
  • Microsoft, 140
  • Minimum limits, car insurance, 192
  • Minimum payment, credit card, 238
  • Minimum wage, 11, 22
  • MIP (mortgage insurance premium), 168
  • Modernist Financial, 55, 82, 141, 150, 196
  • Modified adjusted gross income (MAGI), 100
  • Molina, Tony, 116, 131, 148, 151
  • Money:
    • borrowed, 77
    • emotional ties to, 3–4
    • rationality about, 130
    • relationship with, 2–3
    • shame about, 2–3
    • stress related to, 2
  • Money awareness, 7
  • Money Game, 268–271
  • Money goals, 27–40
    • amount needed to meet, 32–37, 135
    • focusing on, 39–40
    • listing, 28
    • motivations for, 27–28
    • with a partner, 37
    • and preliminary plan, 38–39
    • prioritizing, 29–31
    • setting, 38
    • as SMART goals, 31–32
  • Money journal, 61
  • Money market funds, 111
  • Money mindset, 3–4
  • Money parties, 262–264, 271–274
    • agenda for, 264–265
    • and the Money Game, 268–271
    • quarterly/annual checklist for, 274–277
    • running monthly numbers for, 265–268
  • Money personality, 73
  • Money Scoop (newsletter), 151
  • Monte Carlo simulation, 103
  • Morgan Stanley Capital International (MSCI), 141
  • Morning Brew (newsletter), 151
  • Mortgage(s), 77
    • amortization of, 174
    • approval process for, 170
    • and closing costs, 158–159
    • conventional, 158
    • and credit score, 223–224
    • paying down your, 173–174
    • terminology for, 172
    • types of, 167–169
  • Mortgage insurance premium (MIP), 168
  • Mortgage interest, 208
  • Mortgage lenders, 169–171
  • Mothers. See also Childcare; Family
    • paid leave for, 24
    • short-term disability for, 201
    • wage gap for, 11, 18
  • Motivation, 27–28, 31, 38, 277–278
  • Moving costs, 163
  • MSCI (Morgan Stanley Capital International), 141
  • Multigenerational businesses, 196
  • Multigenerational living, 61
  • Municipal bonds, 140
  • Mutual funds, 111–112
  • Negotiation. See also Salary negotiation
    • of college costs, 248
    • of medical bills, 184–185
  • Nest egg, see Retirement investments
  • Net worth:
    • and account balances, 78
    • monthly update of, 78
    • quarterly update of, 274–275
    • tracking your, 75–78
  • New Deal, 16
  • New York City Department of Consumer Affairs, 63
  • New York Stock Exchange, 19
  • New York Times, 214
  • Next Gen Personal Finance, 278
  • NFTs (nonfungible tokens), 106, 153
  • Nicknames, for bank accounts, 278
  • No minimum brokerage accounts, 142
  • Nonfungible tokens (NFTs), 106, 153
  • Nonprofits, supporting, 92
  • Northwestern Mutual, 197
  • No Surprises Act, 189
  • Nursing homes, cost of, 201–202
  •  
  • One-time costs, home purchase, 163
  • Online savings accounts, 66
  • On-time payments, 228
  • Open enrollment, for health insurance, 182
  • Optimism, 5–6, 68
  • Otter, Dan, 98
  • Outflows, financial plan, see Expenses
  • Out-of-network healthcare, 180, 183
  • Out-of-pocket maximum, health insurance, 180–181
  • Own-occupation disability insurance policy, 200
  •  
  • Paid leave, 23–24, 55
  • Parental leave, 201
  • Parent PLUS loans, 246–247
  • Partners:
    • bank accounts with, 79
    • consumer activism with, 93
    • financial planning with, 45, 72–73
    • home ownership with, 173
    • money goals with, 37
    • money parties with, 264
  • Passively managed funds, 138–139
  • Passports, 37
  • Passwords, account, 265
  • Paternity leave, 24, 201
  • Pay band, 50–51
  • Paychecks, timing of, 42–43
  • Pay equity audit, 47
  • Payments:
  • Payment history, as credit score factor, 228
  • Pay range, 50–51
  • PayScale, 50
  • PCP (primary care physician), 183
  • Perez, Kara, 82
  • Perks, credit card, 242
  • Permanent insurance, 196–197
  • Personal injury protection, car insurance for, 193
  • Personal loans, 77
  • Personal property, 76
  • Pink Tax, 63–64
  • PMI (private mortgage insurance), 159–160
  • Points (mortgage), 172
  • Policygenius, 179
  • Politics, and equity in personal finance, 11–13
  • Portfolio(s), 112–113. See also Investing; Investment(s)
    • diversified, 139–140
    • rebalancing, 117
    • speculative investment percentage of, 154
  • Postnuptial agreement (postnup), 78–79
  • Power of attorney, financial, 216–217, 219–220
  • Preferred provider organizations (PPOs), 183
  • Pregnancy Discrimination Act (1978), 19
  • Premium:
    • health insurance, 180
    • life insurance, 194
  • Prenuptial agreement (prenup), 78–79
  • Prepaid expenses, 159
  • Pretax retirement contributions, 98
  • Prices:
    • of investments, 149
    • and Pink Tax, 63–64
  • Primary care physician (PCP), 183
  • Primary health insurance, 183
  • Principal, paying down additional, 174
  • Private mortgage insurance (PMI), 159–160
  • Private student loans, 243, 245–247
  • Privilege, ix–x, 8–9, 28, 125–126, 137
  • Probate, 218–219
  • Professional development expenses, 55
  • Profit, investment, 128
  • Progressive tax, 214
  • Promotion processes, 47–48, 54
  • Property taxes, 161
  • Publicly traded investments, 138
  • Public service loan forgiveness (PSLF), 243–245
  • Purchasing decisions, consumer activism and, 85, 87
  •  
  • Qualifying events, for health insurance changes, 182
  • Qualifying widower tax status, 207
  •  
  • Racial disparity, 5, 8–9, 11, 107. See also Equity in personal finance; Wealth gap(s)
    • in ability to retire, 107
    • in college costs, 247
    • in homeownership, 156
    • in investing, 125–126
    • and lending discrimination, 90, 171
    • in medical debt, 188
    • in personal finance, 13–14
    • and tax system, 214–215
  • Racism, xi, 8, 16, 91, 156. See also Bias; Wealth gap(s)
  • Rainy-day funds, 28, 29, 33, 186–187. See also sinking funds
  • Raise, asking for a, 43, 55
  • Real estate attorney, 159–160
  • Real estate investment trusts (REITs), 175–176
  • Realized gains, 128–129
  • Realized losses, 129
  • Recession, 21
  • Recurring expenses, 88
  • Recurring payments, 233
  • Redlining, 16
  • Refinancing debt, 174–175, 255–258
  • Refunds, tax, 208
  • Regressive tax, 214
  • Reinvesting dividends, 149
  • REITs (real estate investment trusts), 175–176
  • Relocation budget, 55
  • Renovations, home, 161–162
  • Rental income, 208
  • Renters insurance, 190–191
  • Renting a home:
  • Repairs, home, 160–161
  • Reparations, 23
  • REPAYE (Revised Pay As Your Earn), 243–244
  • Replacement cost, for home, 189
  • Resume, 52
  • Retirement, 28, 29, 95–123
    • early, 106–107
    • gender/racial gaps in ability to retire, 107
    • savings goals for, 34–35, 102–104
    • and Social Security, 104–105
  • Retirement investments:
    • accounts for, 105–106
    • annual check in on, 275–276
    • asset allocation, 112–114
    • automatic contributions for, 118
    • calculations for, 102–103
    • choosing, 114–118
    • compound interest on, 95–96
    • in 401(k) plan, 96–98, 101–102
    • frequently asked questions about, 119–122
    • in IRAs, 99–101
    • Roth vs. traditional, 99–102
    • terminology related to, 108–112
  • Return, annualized, 128
  • Revised Pay As Your Earn (REPAYE), 243–244
  • Revocable trusts, 218–219
  • Rewards, for money parties, 263
  • Rich & REGULAR (brand), 106
  • Risk:
    • investment, 108–110, 113
    • systemic and unsystemic, 137–138
  • Risk tolerance, 110
  • Robo-advisors, 130–132, 144–145
  • Rollovers, IRA and 401(k) plan, 119–120
  • Roommates, and renters insurance, 191
  • Roosevelt, Franklin D., 104
  • Roth IRAs, 99–102
  •  
  • Salary.com, 50
  • Salary negotiation, 48–55
    • as annual process, 54–55
    • and the double bind, 49–50
    • market rate for, 50–51
    • preparing for, 52–53
    • reframing, 48–49
    • responding to “no” in, 53–54
    • and total compensation, 55
    • walkaway rate in, 51
  • Sales emails, 63
  • Sales tax, 45, 206, 215
  • Saunders, Julien, 106–107
  • Saunders, Kiersten, 106–107
  • Savings:
    • and homeownership, 163–165
    • and the Money Game, 268–270
    • and retirement, 102–104
  • Savings accounts, online, 66
  • Schedule flexibility, in compensation negotiation, 55
  • Scheele, Margaret, 47
  • Scott, Linda, 19–20, 24
  • Secondary health insurance, 183
  • Secondhand clothing, 83–84
  • Sector investing, 139–140
  • Secured credit cards, 234
  • Securities, 131
  • Self-directed IRAs, 99
  • Self-worth, 75
  • Separately, filing taxes, 207
  • Shame, 2–3, 239–240
  • Shares, choosing number of, 148
  • “Shecession,” 19–20
  • Shopping locally, 83
  • Short-term capital gains, 129
  • Short-term disability, 201
  • Short-term disability insurance, 199–201
  • Short-term goals, 137
  • Side hustles, 45
  • Siebert, Muriel, 19
  • Single filing status, 207
  • Sinking funds, 64–69, 242
    • automatic transfers for, 67
    • incorporating goals with, 69
    • for medical bills, 186–187
    • planning for, 67–69
    • using and adjusting your, 272–273
  • theSkimm, 20, 39–40
  • Small-cap companies, 140
  • SMART goals, 31–32
  • Snowball method of paying student loan debt, 250–251
  • “Socially responsible” investing, 141–142
  • Social Security, 104–105, 205–206, 208
  • SoFi, 73, 130, 134, 184
  • Soft inquiry, credit score, 226
  • So Money (podcast), 13, 150
  • S&P 500, 108, 139, 151
  • Speculative investing, 153
  • Spending awareness, 61–63
  • Spending decisions:
    • about travel, 37
    • audit lens for, 85–87
    • emotional, 110
    • impulsive, 63
  • Spending plan, 93, 276
  • Spending threshold, 73
  • SPIC insurance, 143
  • Standard repayment option, 243
  • Standard tax deduction, 212
  • Stanford University, 104
  • Starbucks, 83
  • Stash, 29, 102, 195
  • State Farm, 197
  • State marketplace, health insurance, 181
  • Steinem, Gloria, 20
  • Steinhaus, Elyse, 39–40
  • Stocks, 110–111, 117, 137
  • Stock picking, 153–154
  • Stop limit orders, 148
  • Stop orders, 148
  • Stress, 2, 213–214
  • Student loan(s), 77, 242–249
    • canceling debt from, 22–23
    • difficulty paying, 254–255
    • effect of, on Black commmunity and women, 247–248
    • and investment, 135–136
    • PSLF program for, 244–245
    • repayment options for, 243–244
    • taking inventory of your, 249
    • and taxes, 208, 212
    • types of, 243, 246–247
  • Suitability standards, fiduciary vs., 132
  • Super wealthy, taxing, 23
  • Supplemental income, 45
  • Sustainability, 82–83
  • Systemic oppression, 11
  • Systemic risk, 137–138
  •  
  • Target date funds, 114
  • Taxes, 205–215
    • definition of, 205–206
    • minimizing what you owe, 209–212
    • progressive, 214
    • property, 161
    • and retirement investments, 30, 97, 116, 207, 210–211
    • sales, 45, 206, 215
    • for super wealthy, 23
    • and wealth inequality, 214–215
  • Taxable income, 97, 213
  • Tax credits, 210–211
  • Tax deductions, 211–212
  • Tax filing, 209–214
    • additional documents for, 208
    • common mistakes with, 213
    • deadline for, 208
    • documentation for, 213–214
    • free services, 209
    • minimizing stress of, 213–214
    • 1099 forms, 208
    • W-2 forms, 207
    • W-4 forms, 206–207
  • Tax filing status, 207
  • Tax-free contributions, HSA, 186
  • “Tax fund,” 45
  • Tax-loss harvesting, 131
  • Tax preparation services, 209–210
  • Tax rate, for IRAs, 99–100
  • Tax refunds, 208
  • TD Ameritrade, 135
  • 1040 form, 209
  • 1099 forms, 208
  • Term life insurance, 195–198
  • Tesla, 146, 154
  • The 30-Day Money Cleanse (Gerstley), 3, 72, 262
  • Thrift Savings Plan (TSP), 98
  • Ticker symbol, 115, 138
  • Timing:
    • of homeownership, 156
    • of investing, 136–137
  • Title insurance, 159
  • Torabi, Farnoosh, 13, 22, 23, 150–151, 153
  • Tracking, index, 148
  • Trading fees, 143
  • Traditional IRAs, 99–102, 211
  • Trans-related healthcare, 185
  • TransUnion, 224–225
  • Travel costs, 36–37
  • Travel insurance, 37
  • Treatment exclusions, health insurance, 185
  • Trustees, 218
  • TSP (Thrift Savings Plan), 98
  • Tulsa Race Massacre, 16
  • Tulshyan, Ruchika, 53
  •  
  • UltraFICO, 233
  • Umbrella insurance policies, 194
  • Uninsured/underinsured motorist insurance, 193
  • Universal life insurance, 196
  • University of California Irvine, 12
  • University of Oxford, 19
  • Unpaid labor, by women, 48
  • Unrealized gains, 128–129
  • Unrealized losses, 129
  • Unsystemic risk, 137–138
  • Updates, home, 161–162
  • USDA mortgages, 168
  • User names, account, 265
  •  
  • Values-based investing, 141–142
  • VA mortgages, 168
  • Vanguard, 108, 115, 135
  • VantageScore, 225
  • Variable expenses, 58
  • Variable life insurance, 196
  • Vesting, 55, 119
  • Visas, 37
  •  
  • W-2 form, 207
  • W-4 form, 206–207
  • Wage, minimum, 11, 22
  • Wage gap(s):
    • and ability to retire, 107
    • closing, 46–48, 54
    • for mothers, 11
    • for people with disabilities, 46
    • for women, 13
  • Walkaway fund, 33–34
  • Walkaway rate, 51
  • Wallet Activism (Hester), 81–82
  • Walsh, Brian, 73, 134, 135, 154, 184, 194, 197, 202, 258
  • Wasserman, Claire, 49, 54
  • Wealth, need for women to have, 21–22
  • “Wealth chasm,” 13–14
  • Wealthfront, 116, 130, 151
  • Wealth gap(s). See also Equity in personal finance; Gender disparity; Racial disparity
    • and college costs, 247
    • and financial equality, 90–91
    • and homeownership, 156
    • and medical debt, 188
    • and racial lending discrimination, 171
    • and reparations, 23
    • and taxes, 214–215
  • Well-being, financial, 223–224
  • White families:
    • and investing culture, 19
    • net worth of, 13–14
  • Whole life insurance, 196
  • Widower, qualifying, 207
  • Will, for estate planning, 217–219
  • Women. See also Gender disparity; Mothers; Wage gap
    • disability insurance rate for, 200
    • double bind for, 49–50
    • economic opportunities for, 21, 54
    • effects of COVID-19 pandemic on, 20
    • imposter syndrome for, 53
    • investing by, 125–127
    • need for wealthy, 21–22
    • overlooked/unpaid labor of, 48, 52
    • Pink Tax for, 63
    • salary negotiation by, 49
    • with student loans, 247–248
    • systemic barriers for, 18–19
    • walkaway fund for, 33–34
  • Workers' rights, 83
  • Work expenses, reimbursable, 267–268
  • Workforce, equal representation in, 54
  • Work-optional lifestyle, see Retirement
  •  
  • Zero percent interest transfers, 257–258
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