New tax brackets, competitive home bids and more

November 8, 2019 edition

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Money moves from this week's headlines


Get access to your secret consumer score (Yup, that’s a thing)

The gist → You've left a trail of data all over the internet, and some firms have been tasked with using your takeout orders, Airbnb messages and more to rate you as a patron. NYT

The move → The black-box-y nature of these new consumer scores make them impossible to game, but there is one mighty score that you do have some control over: your credit score. Find out how to improve that number in the next month.

Couples are using apps to divvy up household chores

The gist → From apps made for couples like Wunderlist and Labor of Love to project management tools like Asana, couples are going digital to help keep track of daily tasks. WSJ

The move → If you’re interested in adding a third (-party app) to your relationship,here are six apps that can help you manage your money as a couple.

People are staying in their homes longer — and it’s tightening up the housing market

The gist → The median number of years homeowners have been in their homes is now 13, up from just eight in 2010. The result is that housing inventory at its lowest level in decades and home prices are up. WSJ

The move → Buying a home is now ultra-competitive. If you’re in the market, here are a few easy things you can do to get an edge on a home bid.


No money moves to make this week? Why not try a 5-minute money task? May we suggest:

💰Find out where you fall in the new tax brackets

🎓 Enter to win $5,000 for your child’s 529 college savings plan


Keeping Score KEEPING SCORE

This week in money gossip


44%
The percentage of MBA students in 2019 who graduated without having to borrow to pay for it.

Bloomberg

$4,890
The average cost of a long-distance move, according to Moving.com.

Policygenius

$240M
The estimated net worth of Suzy Batiz, founder of air freshener company Poo-Pourri.

New Yorker

$35K
The projected daily revenue of the newly opened Houston location of Color Factory, the Instagram-optimized pop-up “experience” that’s also in San Francisco and New York. Tickets are $35 for adults and $28 for kids.

The Verge

$164,200
The annual income needed to be in the top 10% of earners in the District of Columbia, the highest in the nation.

Policygenius Magazine


100 words 100 WORDS OR LESS

Fast + free money advice from the Policygenius advisers


Should I pay to add accident forgiveness to my car insurance policy? — Alex

Accident forgiveness guarantees your rates won’t go up after an accident you cause. Some car insurance companies offer it as a loyalty perk, some allow you to add it to your policy for an additional fee. The big catch is that in order to qualify, you usually need to have several years of accident-free driving — meaning the drivers likely to need it may not qualify, and the drivers who qualify likely don't need it! But if you do qualify and are willing to pay for peace of mind, it may be a good choice for you.

— Fabio Faschi, property and casualty team lead at Policygenius

Have a money question? Our advisers have a money answer. Reply to this email and we’ll get them on the case.


Pro TipPRO TIPS

Bishoy Tadros, author of Break Barriers: How Setbacks Can Dare You Rather than Define You

bishoy


Best financial advice your ever got: When it comes to investing, volatility is normal, so the task isn’t to avoid volatility — it’s to make sure you are diversified in the face of a storm. One thing I learned from my time working at JPMorgan is that in spite of volatility, more often than not the market generally ends the year on a high note. Resist the temptation to sell in the midst of a downturn. It’s a long-term game.

Last thing you resisted buying: 1-on-1 dog training packages for my puppy, Jovie.

How did you resist it? I forced myself to watch YouTube videos and reminded myself that when I bought the puppy, that included a commitment to training it, no excuses.

Check out more of Bishoy’s pro tips, including his biggest money goal and what he’d do with a $1M windfall, at Policygenius Magazine.

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Best & worst places for creatives


The Policygenius Creatives Index ranks the best major metropolitan areas for creative professionals based on median salary, density of jobs and arts establishments, housing costs, health insurance costs, and more.

creatives


This newsletter is intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you