💸 Money Cheat Sheet: Summer Lifestyle … Creep

Including a brand-NEW live event.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
 
Ellevest
What the Elle logo
 

This week’s money mood: $ummer ☀️️

Happy June, happy Pride, happy days that last past 8 PM, happy summer.

I don’t know about you, but there’s just something about the week after Memorial Day that makes me want to spend money, lol. Everything was just on sale, there are vacations to prep for, outdoor happy hours have returned — you know how it is.

But also, between the Great Resignation and the past year’s strong labor market, a lot of people’s incomes have risen since last summer. Summer is also peak moving season, and the housing and rental markets are ouch. Add those things together, and you’ve got a recipe for lifestyle creep — aka when your spending and expenses rise as fast as your income. It’s real, and it’s relatable.

This week, we’ve got some resources to help you keep expenses in check and budget for your summer, so you can focus on fun and not finances.

See you at the pool,

Deedi Brown, she/her
Senior Editor

 
A web search bar showing the words “managing lifestyle creep.” Speech bubbles float around.

“I used to be so good with money. What happened?”

This is something Financial Planner Victoria Ferguson hears from clients a lot — that their income went up, but so did their expenses, and suddenly they’re not sure where their money goes anymore. Sound familiar? Come to our NEW live event, Ellevest Explains: Managing Lifestyle Creep.

SEE YOU THERE >

 
An illustration of a weekly calendar with ONE NUMBER written across the top.

Budgets are freedom, not a form of constraint

A lot of people think following a budget means you can’t spend money — but it’s actually the opposite. Budgets allow you to spend your money on the things that matter most, confidently and without guilt. Here’s our coaches’ #1 budgeting approach.

FIND YOUR 1 NUMBER >

Woman waving from a computer screen while another walks toward a wallet with money sticking out. Illustration.

Wish someone would make a budget for you?

We know some folks. 😉 When you book a 1:1 Budgeting and Spending session, your money coach will learn about your daily expenses, goals, and overall money sitch, then follow up with a one-page, personalized budget made just for you.

SIGN UP >

 
A freeze frame of CEO Sallie Krawcheck in a brown leather jacket, smiling at the camera.

Budgeting and managing lifestyle creep doesn’t mean giving up things you love

Plus, cutting out small pleasures (like, you know it, your daily latte) isn’t actually going to help you hit your goals. Here — we’ll let Sallie explain it.

WATCH THE VID >

 

$$ win of the week

“In March I found out that the current place I work for is dissolving this summer. It was terrifying and not great for my mental health, but it taught me to up my financial wellness game. After a lot of hard work, I landed a new freelance role and a full-time role that is paying me 60% more than my current role!”

— Victoria, an Elle Raiser from Boston, MA

We 👏 love 👏 to 👏 see 👏 it! And we want to hear more of these — tell us about your recent money or career win!

 

Got a vacay coming up?

Plan and save for it with our downloadable Vacation Budget Planner. (Free for members!)

SET THAT OOO >

 

New$ on our radar

There’s talk (although nothing is officially decided yet) that the Biden admin is considering canceling $10,000 of student debt for borrowers whose incomes fall below certain limits.

Speaking of student loan forgiveness, the Education Department is canceling all the debt borrowed by students of now-defunct Corinthian College.

A recent study found that although employment discrimination persists, the spending power of the LGBTQIA+ community — which skews young and is growing fast — is on track to grow “meaningfully” in the coming years.

In what comes as a surprise to … absolutely no one, LendingTree recently found that 56% of bridal party members feel pressured to spend more than they can afford. (Feel that? Here’s some help.)

On Wednesday, four people were killed by a gunman at St. Francis Hospital in Tulsa, OK. If you’d like to help support the victims’ families and affected employees, the hospital has created a community fund.


 

Get 1 month membership + a free workshop when you start investing for retirement.

 JOIN ELLEVEST* 

This week’s newsletter was brought to you while testing out exercises that spark joy. Forward it to your friends who aren’t afraid to look silly.

FOLLOW US

MAGAZINE

STORE

DISCLOSURES
 
*The “BRIGHT” Promotional offer is for those who 1) sign up for an Ellevest Plus or Ellevest Executive membership service and 2) make an initial deposit of $1 or more into an Ellevest retirement investment account on or before 11:59 PM EST on 6/30/2022 (the “Promotional Period”). This Promotional Offer cannot be applied to an annual or existing Ellevest membership service, and is only available to the first 750 eligible new Ellevest membership clients who redeem it before the Promotional Period ends. This Promotional Offer is not valid in conjunction and cannot be combined with any other offers or promotions. Membership clients who enroll with promo code “BRIGHT” before the end of the Promotional Period will pay no Ellevest Membership fee for the first month of their membership period, starting on the date the membership agreement is acknowledged (the “Effective Date”). After 1 month from the Effective Date, the applicable fees for the Membership service selected will be reinstated and other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply. Membership clients who enroll with promo code “BRIGHT” and make an initial deposit of $1 or more to a retirement investment account within the Promotional Period will receive a promo code for a free workshop valued up to $20. Ellevest’s processing time for sending the $20 promo code may be up to 14 days after the account is funded. Ellevest reserves the right to refuse to award you the Promotional offer if it determines, in its sole discretion, that the promotion was claimed under wrongful or fraudulent circumstances, that your participation is against the spirit of the program, that making payment would constitute a violation of your Ellevest Membership Terms and Conditions Agreement or applicable federal or state law, or that incomplete or inaccurate information was provided. Ellevest reserves the right to end or modify any promotion at any time.
Ellevest Membership fees are as follows: Ellevest Essential is $1 per month, Ellevest Plus is $5 per month, and Ellevest Executive is $9 per month. Other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply. Ellevest doesn’t require Members to maintain a minimum investment account balance. However, there are portfolio-specific minimums (ranging from $1 to approximately $240). You may not receive the entire recommended portfolio until your account balance meets the respective portfolio minimum. Ellevest will not rebalance a portfolio until it meets the respective account balance minimum necessary to generate the required shares. This minimum is a function of portfolio allocation and the share price of individual holdings, which will vary.
All opinions and views expressed by Ellevest are current as of the date of this writing, for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.
The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice.
The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.
Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time.
Banking products and services are provided by Coastal Community Bank (“Coastal”), Member FDIC, pursuant to license by Mastercard International. Your Ellevest Spend and Ellevest Save account deposits will be insured to the regulatory limits by the FDIC through Coastal Community Bank, Member FDIC.
Funds held in your Ellevest investment accounts are not FDIC insured, not guaranteed by Coastal, and may lose value. Ellevest does not guarantee investment performance.
Ellevest Membership fees are as follows: Ellevest Essential is $1 per month, Ellevest Plus is $5 per month, and Ellevest Executive is $9. Other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply.
 
 
 

Older messages

Opinionated: Answering Your Q’s on Volatility

Wednesday, June 1, 2022

Plus, all about insurance for your furriest family members. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Mark Your Calendar: This Week's Lineup

Tuesday, May 31, 2022

Plus: Sign up for a 7-day retirement planning course! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

🔦 Opinionated: Hope in Weird Times

Tuesday, May 24, 2022

Plus, how burnout affects your money. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Take a Peek at This Week's Schedule

Monday, May 23, 2022

Including: TWO Ellevest Explains! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

💸 Money Cheat Sheet: New Role, Who’s This?

Thursday, May 19, 2022

Including a special note from Ellevest Career Coach LaToia Burkley. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Doomsayers’ delight

Thursday, June 30, 2022

Bloomberg Evening Briefing View in browser Bloomberg With June now over, we can say that the S&P 500 has suffered its toughest first half since Richard Nixon was in the White House. It was a rout

🤞 Here's hoping the Twitter deal doesn't collapse

Thursday, June 30, 2022

Megadeals top regular deals | Gazprom pulls a gotcha | TOGETHER WITH Hi Reader, here's what you need to know for July 1st in 3:11 minutes. 😎 There are three top-level decisions to make as an

💸 Money Cheat Sheet: In This Economy?

Thursday, June 30, 2022

Smart money moves to make during uncertainty. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Fed Chair Powell warned that sky-high inflation could turn permanent. It's the opposite of what he said a year ago.

Thursday, June 30, 2022

Thinking supply chains would quickly heal was something the Fed got wrong, Powell said Wednesday. Now there's a "clock running" to cool inflation. View in browser Business Insider

The Daily StockTips Newsletter 06.30.2022

Thursday, June 30, 2022

I've Screened the Market for what I Consider the Best, Safest, & Most RELIABLE Profit Opportunities! (Published 7:30 AM ET MON-FRI) ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Wall Street: The wealthy crave private bankers

Thursday, June 30, 2022

The latest in finance. View in browser INSIDER INSIDER Subscribe 10 THINGS ON WALL STREET Hi, Aaron Weinman here. I've never needed a private banker, but the über rich are demanding their services

Issue #370 - Shocks & Solutions: A FinTech Modern Story

Thursday, June 30, 2022

What are useful answers during economic downturns, and with a high level of competition? See Online Issue #370 - Shocks & Solutions: A FinTech Modern Story 2022-06-30 Financial technology is well

Wall Street missed the memo

Wednesday, June 29, 2022

Bloomberg Evening Briefing View in browser Bloomberg Whether it's hope, self-delusion or they just didn't get the memo, the receding stock market tide has left Wall Street analysts sitting on

🍑 Has bitcoin bottomed?

Wednesday, June 29, 2022

H&M wins hearts & minds | Let's go on a guilt trip | TOGETHER WITH Hi Reader, here's what you need to know for June 30th in 3:10 minutes. 😎 There are three top-level decisions to make

I was overly aggressive when I interviewed with WeWork's Adam Newmann for the Meetup CEO role — and it paid off. Here's why I recommend all leaders negotiate every detail.

Wednesday, June 29, 2022

"Many leaders fail before they walk in their door," writes David Siegel, because they don't ask for specific needs to set themselves up to succeed. View in browser Business Insider