What The Elle - 🧠 Hey. You’re Good at Money

Don’t Let Anyone Tell You You’re Bad With Money

If you’re reading this newsletter, we’re willing to bet we know a few things about you.

You’re conscientious, driven, and smart, right? The kind of person who never quite gives up on setting new goals? Even if it’s just to finally start drinking more water? (Cheers to our fellow emotional support water bottle girlies.)

You’re probably no stranger to financial goals, either. Maybe you’ve opened a high-yield savings account, or regularly use a budgeting app, or even have an investment account with some money in it.

But we’ve talked to thousands of women across all ages and life stages about their money, and there’s still one thing we hear again and again, no matter where they are in their financial journey: They don’t feel like they know enough. They just need to do some more research. To learn a bit more first. To wrap their heads around the next step before they take it. To get a little “better with money.”

But that little voice telling you those things is big wrong. It’s not necessarily lying, mind you — let’s just say it’s been seriously misled. And this week, we think we should talk about it.

READ THE REST

Love, The Ellevest Team

Polls from the group chat: Recurring deposits

Recently, the EV team’s been thinking not just about how much to save, but about when and how. So we asked our IG followers: “How often do you contribute to your investment accounts?”

ONCE A PAYCHECK

47%


ONCE A MONTH	38%

WHENEVER I REMEMBER

NOT A PRIORITY RIGHT NOW

Also worth applauding: 81% (!) of you said you have autodeposits turned on. And that’s on setting it and forgetting it, friends.

Money tip of the week: How income tax brackets work

Figuring out how much you’ll need to pay in income tax is more than a matter of matching your income with a percentage in the tax table.

For example, say you got a raise in 2021 and made $90,000 in 2022. Oh no, a higher tax bracket! Don’t panic — even though you make over the $89,075 minimum for the 24% marginal tax bracket, that doesn’t mean you’ll pay a flat 24% to the IRS. Instead, you’ll pay:

–	24% of $925 (the amount more you make over the minimum for the 24% bracket)
–	22% of $47,300 (the amount you make over the minimum for the 22% bracket)
–	12% of $31,500 (the amount you make over the minimum for the 12% bracket)

… and so on. In reality, after all the deductions and mathing, someone in the 24% tax bracket usually ends up paying more like 15-18% to the IRS. So when it comes to investing, or starting that business, or getting that raise, be fearless. Make that money, invest it, and get some help with your tax and financial planning!

— Samantha Vient, Ellevest senior financial planner and CFP® professional

Events @ Ellevest this week



•	All About Membership at Ellevest: Squeeze every bit of value out of Ellevest. We’ll show you all its perks. 🍋 TODAY 7 PM ET: Sign up for free
•	Investing, Part 1: How It All Works: We go over the fundamentals — from different types of investments to concepts like diversification and compounding — in this 60-minute workshop. 📊 NEXT WEDNESDAY 5 PM ET: Sign up

Busy this week? Check out all upcoming workshop dates and times.

A screenshot of a tweet from user @MilliTamati that reads, “Just sayin', there's a wave of formidable women builders on the rise. Banding together, supporting, funding one another, and cheering each other on. I can feel it in the air - there's gonna be ALOT [sic] of women making waves this year 😍”

Links we’re loving

•	Can you believe there’s never been an American woman on the moon? An upcoming mission will change that.
•	A feel-good moment: Septuagenarian fashion models are in high demand right now.
•	Annoying news on the VC front: Women-founded start-ups raised just 1.9% of all VC funds in 2022 — down 0.5% from 2021’s improvement.
•	Better news on the salary front: A recent survey found no statistical difference between genders or racial groups in how often people ask for raises. Even better, though just 37% ask, 70% of people who do actually get one.

Get confident about your retirement plans in 2023.

START INVESTING

This week’s newsletter was brought to you while crying to the new boygenius. Forward it to your friends who are tried and true blue.

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DISCLOSURES

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.

Information was obtained from third-party sources, which we believe to be reliable but not guaranteed for accuracy or completeness.

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 past performance is not predictive of future results.

Ellevest, Inc. is a SEC registered investment advisor. Membership fees and additional information can be found at www.ellevest.com/.

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