💸 Annnnd we’re back! 💸

✨ This Month’s Themes ✨

Our money themes help ground us each month and remind us where to focus on our intentions throughout the year.

🪞 Reflection

March brings us to the end of the first quarter of the year. It’s typically a quiet month for key money dates unless you have a lot of personal big spend days in March. Take this time to reflect on where you are with your money goals and whether or not 2025 is going as planned for you so far. If not, now’s a great time to think through what it would look like to pivot and what you might need to succeed.

🔍 In this Issue

• This Week's Money News

• Ed. Opal is moving to bi-weekly

• Financial Spring Cleaning

• My Final Two Cents

• Introducing Something New

Need to catch up? Read our latest issues here.

This Week’s Money News

👛 Wallet Watch

• 🟤 A case for baby bonds - one potential strategy to help close gender and racial wealth gaps.

• 🟤 Are you wondering what financial security looks like without kids? Dr. Jay Zigmont of Childfree Wealth just wrote a book all about it. Check out the summary here.

• 🟤 There’s been lots of talk about boycotts lately. If you need black-owned alternatives to add to your shopping list, here are seven.

Announcements

📆 Our Bi-Weekly Move

We’re moving our weekly newsletter to bi-weekly. Starting this week, expect us in your inbox every other Monday morning. We’ll keep the content the same, so you can still expect deep dives, money prompts, and the tools and resources you need to help you reach your personal finance goals.

Fiscal Focus

💸 Financial Spring Cleaning

Hey there,

I hope you had a great Black History Month and are enjoying Women’s History Month. I’m finally back from a much-needed and restful trip to Japan. It was amazing. If you have the opportunity, I’d suggest visiting Japan. It’s a beautiful country with extensive history and lots to do whether you’re more outdoorsy or looking for nightlife.

I appreciate your patience while I was away! Now that I’m back let’s talk about some financial spring cleaning. We’re at the end of Q1. It’s the perfect time to reflect and pivot to help set ourselves up for the rest of the year. Here are some things to consider as you spring-clean your finances this month.

1️⃣ How are you feeling about your money now that we’re three months into the year?
Are you on track to reach your goals? Are your goals still relevant? Are there money questions you still don’t have answers to? Take stock of where you are, where you want to be, and the gap you’ve closed between those two states since the year started. It’s natural to need to pivot now that the year is underway. If that’s the case, start thinking through what that pivot would look like and whether or not you have what you need to complete that pivot successfully.

2️⃣ Review those subscriptions.
Unnecessary subscriptions can be a money suck over time. Review your subscriptions and cancel any that are no longer valuable. Remember, all subscriptions aren’t paid out every month, so don’t forget to audit quarterly and annual subscriptions. 

3️⃣ Credit Card Audit:
Are your cards, rates, and rewards systems working for you? If not, now may be the time to negotiate with some of your credit card companies. If you’re struggling with your rate but otherwise in good standing, it may be worth reaching out to your card company and asking them to adjust your rate to something lower. These requests aren’t always granted, but trying doesn’t hurt. Also, be sure you’re not leaving any points or rewards cash on the table. If you’re unclear on what benefits your cards offer, review this information to take full advantage of your credit card benefits. 

4️⃣ Review your investment portfolio.
Do you need to mitigate risks or further diversify? As Q1 ends, now is a great time to review your investment portfolio and consider pivoting if you’re not maximizing your allocations. Do you have RSUs you haven’t touched? Consider diversifying so that most of your net worth isn’t in one company. If you’re unsure where to start, I’d recommend contacting your CFP to let them know you’re curious about protecting or diversifying your portfolio. Once they know your goals and current standing, they should be able to offer advice on what your next steps should be.

5️⃣ Update your career strategy.
The job market is crazy right now, another reason to review your career strategy. How long have you been in your current role? When was your last promotion? Are you looking to increase your income? Take stock of your recent career wins, update your portfolio, and start making plans around your next role. If you’re at a more prominent company, take advantage of career coaching and mentorship programs that may help you plan out your next career move.

We know a lot has happened since the beginning of the year regarding the executive orders, government layoffs, and the new administration. We’ll be covering some of that in the following newsletter. Until then, happy spring cleaning!

Vocab, Mindfulness, and Quick Facts

💰 My Final Two Cents

💬 Money Vocabulary:
Diversification: a risk management strategy that creates a mix of various investments within a portfolio. A diversified portfolio contains a mix of distinct asset types and investment vehicles in an attempt to limit exposure to any single asset or risk. Read more here.

🧘🏾‍♀️ Mindful Money Prompt:
What’s been your biggest money success this quarter?

📠 Money Quick Fact:
On March 23, 1976, President Ford signed the Equal Credit Opportunity Act into law. Read more here.

Celebration Syndicate

🎉 Introducing a New Way to Celebrate You

Did you get a higher-paying job, pay off a credit card, or meet a savings goal? No matter what your money accomplishment is, we want to celebrate you! Share your money wins here for a chance to have them featured in future newsletters and on Ed. Opal socials!