Posts by Farnoosh Torabi
Farnoosh Torabi at Yahoo Finance 6 mths ago
Young, single women in this country are, on average, out-earning and outlearning their male counterparts. A study by Reach Advisors found that in most major cities the average median income for single, childless women between 22 and 30 was 8% higher than that of their male cohorts.
“Young women are way more educated than young men, much more likely to get degrees in the knowledge-based workforce, and more of these jobs are going to women, and that’s why the median income is higher,” says James Chung, President of Reach Advisors.
What’s behind the shift? Are young women more “ambitious” than men when it comes to school, career and getting ahead financially?
Later, those top grades pay off as college rolls around. More women than men are enrolling and graduating in higher education. In the class of 2013, women earned the majority of Bachelor’s and Master’s degrees. The same is expected for this year and beyond.
For more, check out the video above.
Farnoosh Torabi at Yahoo Finance 7 mths ago
When my husband and I wed in 2012, we knowingly exposed our marriage to potential complexities based simply on the fact that I brought home a bigger paycheck. I had recently started researching my new book, "When She Makes More: 10 Rules for Breadwinning Women," and discovered some sobering statistics unique to relationships with this increasingly common financial dynamic. Today, 24% of wives earn more than their husbands, four times greater than in the 1960s, according to Pew.
Cheating, too, becomes a greater problem. A 2010 Cornell University study examined 18- to 28-year-old married couples and couples living together for more than a year. Men who were completely dependent on their female partner’s salary were five times more likely to cheat than men who made an equal amount of money.
His ego is bruised
Farnoosh Torabi at Yahoo Finance 8 mths ago
How closely do you examine your recurring bills? Do you even look at the itemized charges? Even if you’ve opted for the ease and breeze of online billing and paperless statements, don't forget to take a few minutes each month to examine the fine print. Or at least read it. Otherwise, you could be washing away hundreds — possibly thousands — of dollars a year in bogus and disputable charges.
Next time you receive any of these bills either in the mail or in your Inbox, be on the lookout for unnecessary or, in some cases, false charges.
Landline and cellphone bills: Watch out for cramming
According to the Federal Trade Commission, cramming is “the practice of placing unauthorized, misleading or deceptive charges on your phone bill. Crammers rely on confusing telephone bills in an attempt to trick consumers into paying for services they did not authorize or receive, or that cost more than the consumer was led to believe.” Some 20 million people become cramming victims annually, says the FTC, but only 5% are aware.
Credit and debit card statements: Watch out for grey charges
Medical bills: Watch out for bloated fees and false claims
Farnoosh Torabi at Yahoo Finance 8 mths ago
I love fashion just as much as the next person, but I’m usually too intimidated to walk into a high-end store like Prada or Gucci for fear that I’ll be recognized for what I really am — a bargain shopper. I mean, how many of us could afford $700 pumps or a $1,500 handbag? My natural inclination in these haute houses is to gawk at the price tags, not ask the saleswoman if those shoes come in a size 7.
And while I’m not someone who would normally ever be shy to ask for a discount, doing so at an upscale design house feels kind of inappropriate.
But I’ve recently learned that this, as with so many of our notions surrounding money, is irrational — and counterproductive. Even in the absence of a sale, you can negotiate at Prada and its fellow designer shops, according to the experience and expertise of Mark Ellwood, author of the recent book “Bargain Fever: How to Shop in a Discounted World.”
Make new friends
Ask for the inside scoop
Check out the outlets
Farnoosh Torabi at Yahoo Finance 9 mths ago
It’s a bad habit we’ve all been guilty of -- failing to eat our fruits and veggies on time and creating waste. It contributes to a worldwide waste of roughly 1.3 billion tons of food annually. Follow these simple steps to keep your produce - and cash - out of the trash. Separate Bad Apples from Good It’s said that one bad apple spoils the whole bunch, and it’s actually true! Apples emit ethylene, an odorless, colorless gas, as they ripen. A rotten apple produces more ethylene than a fresh one, so the apples around it will actually ripen and spoil faster. You can delay this process by removing any bruised fruit and storing fresh apples in the fridge to slow ripening. Also See: 5 Ways to Remove Odors from Plastic Add Lemon to Cut Produce For cut apples, slow the oxidation, or browning, by dipping them in lemon juice and storing in the fridge. This works for avocados, too. A cut avocado can stay in good shape for days as long as it’s refrigerated and the pit is kept in tact. A sprinkle of lemon also keeps it from browning. Separate Ethylene-Emitting Produce Bananas are another fruit that produce ethylene. To extend the life of your bunch, separate and wrap the stems with plastic wrap ...
“My personal finance problems will just sort themselves out.” It’s a common mindset trap to assume that a windfall of money or some other stroke of luck will one day resolve your financial issues. It’s just wishful thinking and an unhealthy way to manage your money. It’s a sign you may be too scared to face reality. In fact, a new poll from the National Foundation for Credit Counseling found that 80% of us admit to making the worst decisions when it comes to our finances, since we’re afraid to reality and make tough changes. Also See: Financial Documents You Should Never Toss “I’ll just buy now and pay later.” A separate NFCC poll found that more than half consider overspending to be their biggest financial regret. And you can bet there’s a little voice in their head that says, “I can buy it now and just afford it later.’ Also See: Signs You Suffer from a Financial Disorder But with the average credit card balance among those with debt surpassing $15k, that’s a dangerous rabbit hole to go down. Making minimum payments at, say, 18% interest, it would take 13 years and $6,800 in interest to pay off that balance. “I can’t afford to save for retirement.” Another money lie...
Americans spend roughly $5 billion on household cleaning supplies every year and growing. But do we really need all those detergents and liquids? One cleaning expert says you can skip the store and save money by employing some basic products sitting in your cabinets at home.
From wine corks to broken electronics, make 2014 the year of making more by cashing in on the things you really don’t need. Look around your house and you might find you’re just sitting on a pile of money…starting with that broken blender or busted washing machine. These items may not be worth much to you, but there’s a market for these run down items on eBay and Craigslist, according to the smart shopping experts at All You Magazine . “There are people who look for these items just to use their parts. They may try and repair them. You never know, you might get $50 for a completely broken phone that you didn’t think was worth anything,” says Rachel DeSchepper, Director of Digital Content, All You Magazine . Next, craft enthusiasts will pay for unconventional materials, like wine corks, paper towel or toilet paper rolls and buttons. “Who knew? You can get up to $20 for crafting supplies, things that you might have around your house. Crafters are always looking for these things. If you go onto Etsy , just list them there, on your own Etsy shop, and you can make money,” says DeSchepper. Finally, cash in on clutter or even holiday gifts including electronics, gift cards and kids...
In this day and age, is it worth shopping at a brick and mortar store like Best Buy? To compete with online giants like Amazon, Best Buy rolled out their competitive “Renew Blue” campaign this past year that price-matches and is improving both the in-store and online shopping experience. But is that enough to compete? Also See: Sneaky Retail Tricks Since the campaign, Best Buy shares have been on the rise and customers seem generally pleased with the service. The retailer’s in-store sales have risen by about 2% this year. And CEO Hubert Joly said its Blue Shirt representatives are receiving high marks and making positive movements in closing sales. If you want the item now for the lowest price, Best Buy price-matches. But the limit is one item per person and you need to show proof of the lowest price from a select group of retailers. Meanwhile, more and more people are shopping online and overall customer satisfaction for online shopping is up for a second year in a row, according to the American Customer Satisfaction Index , and in first place among e-tailers: Amazon. Also See: Earn Money When You Shop Online Amazon’s patented one-click shopping experience makes it too...