Lauren Torres ("Kitty"), Author at Bitches Get Riches • Page 4 of 22

The 2022 Student Loan Forgiveness FAQ You’ve Been Waiting For

August 30, 2022July 12, 2023 Lauren Torres ("Kitty") 24 Comments

Federal student loan forgiveness has been through a lot recently. She’s not looking pretty. She needs a massage. Her T-zone is breaking out. Which means this article does not reflect the current state of loan forgiveness. We’re leaving it up because we think it contains useful context. But if you want our most current news on student loan forgiveness, you can find it here.

When I heard that President Biden was pushing through a massive federal student loan forgiveness initiative, I knew exactly what I had to do. I dropped what I was working on and immediately grabbed my phone.

I texted Piggy, my coblogger, to let her know what truly mattered in this situation: that I was right, and she was wrong, neener neener neener.

You see, back in March of 2021, I wrote a case study dissecting an IRL friend’s financial situation. In editing my article, a disagreement surfaced between Piggy and I over the likelihood of student loan forgiveness. She considered the possibility of $10K in student loan debt cancellation so remote that she strongly pushed me to remove it from the article altogether. We settled for explaining both our stances in editorial notes, which you can still read here. (Piggy: In my defense, I’ve heard this campaign promise since I was a starry-eyed 17-year-old college applicant at a John Kerry for President event.)

But I was right. As I always am! I’m a seer, a sage, a prophetess. If I had letters tattooed across my knuckles, they would say TOLD and YASO. I am Samuel Gerard, United States Marshall, ruff ruff ruff!

Okay, okay, gloating aside… A big chunk of federal student loan debt is indeed being canceled. At long last, Cancel Culture is ASCENDENT!

I know our readers have a ton of questions about how this student loan forgiveness package works. Follow me, dear children, and I will answer all of your questions in a rapid-fire FAQ.

Your Yearly Free Medical Care Checklist

August 10, 2022March 7, 2024 Lauren Torres ("Kitty") 8 Comments

If you are an American who is lucky enough to have health insurance, you almost certainly have free medical care coming your way.

Several annual and semi-annual services are available to you with no copay—and you have absolutely no reason not to use them. Technically, you have already bought them, as their cost is built into the premiums you’ve already paid. And your body will thank you for it! Even if you feel perfectly healthy, establishing a baseline of health will help your medical professionals detect problems early.

Pro-tip: don’t wait until the end of the year to do all this stuff! Every medical office I’ve ever been to is slammed during November and December as everyone tries to use up their benefits. Schedule it now to avoid the crush.

Here’s what you should be doing every year.

Ask the Bitches: “I Took a Career Break to Care For Someone. How Do I Explain My Caregiving Resume Gap?”

August 3, 2022August 3, 2022 Lauren Torres ("Kitty") 7 Comments

Recently we got a question from a reader about how to explain a caregiving resume gap. Meaning, they took significant time off from work to care for someone who was sick or disabled. And now there’s an employment gap in their job history that they worry is negatively impacting their resume.

I haven’t seen this problem addressed much on finance and career blogs. That’s surprising, considering how common it is. One in four American adults is a caregiver to someone with a long-term illness or disability. Millions of them are simultaneously working outside the home.

It’s unendurably difficult to be a full-time employee and a full-time caregiver. But the “second shift” is a reality for many people. Caregivers pay an incredible physical and mental toll to do what they feel must be done. It makes perfect sense that someone would choose to pause one to focus on the other.

But of course that doesn’t stop certain prospective employers from holding that choice against you in your job search…

How (and Why) to Take Back Reproductive Rights: On Pulling Weeds and Fighting Back

June 30, 2022June 30, 2022 Lauren Torres ("Kitty") 31 Comments

In light of the overturning of Roe v Wade, it’s with a heavy heart that I revise and expand this article from 2019 with a new goal to take back reproductive rights.

Our mission at BGR is to help people use money as a tool for greater personal autonomy, community stability, and social justice. The sudden unjust denial of abortion access to many Americans has us utterly shaken. We have stated many times that reproductive rights are a non-negotiable basis for success. It is impossible to work toward any of those goals without the right to freely determine the number and timing of potential children. But here we are.

The average American child costs a quarter million dollars before they reach age eighteen. The idea that any person or family should be forced to make such a financial commitment—or several such commitments—for something they don’t passionately want is fundamentally repugnant to us.

We mostly write about money and careers on Bitches Get Riches. It’s not because we love them so much we wanna kiss ‘em on the mouth—it’s because in the society that we have today, money and careers are the best tools we have to attain complete independence and autonomy.

We believe that each individual is an expert in their own happiness. And given a modest level of financial stability, people will have the freedom to make the choices that make their lives feel deliciously worth living.

Limiting abortion access—much less criminalizing it—stands in direct opposition to these values.

Piggy and I are sick with worry for the people impacted by this ruling. We’re grieving, as we know many of you are too. We are not alone. We’re not even a minority, as two thirds of Americans didn’t want this ruling. But we’re also furious, and ready to fight. Together, we have more power than the tyrannous minority of withered shitheads bent on turning our country into a racist, misogynist, corporate-sponsored theocracy.

Phew. Getting spicy and it’s just the intro! Did I mention I am furious?

Today we’re discussing how, and why, to take back reproductive rights. How do we get abortions to people who need them? Who can undo this injustice, and what can we do to exert influence on them so they take action? And how do we make sure that the changes endure permanently? Let’s get into it.

A Guide to Sharing Finances with Someone Other Than a Romantic Partner

June 15, 2022August 2, 2022 Lauren Torres ("Kitty") 9 Comments

In the past, when asked about sharing finances with someone other than a romantic partner, our advice has boiled down to one word: don’t.

There are two main reasons we’ve tended toward this perspective. First, many of the specific questions we’ve gotten on this topic have been, um… ill-advised? Often they’ve come from young people with limited life experience asking how to most expeditiously derail their lives. (“Myself and my four best friends are juniors in college, and rent in our city is super expensive, so we want to buy a house together! We haven’t been roommates yet, but we’ve all been best friends since grade school and have never fought about anything. None of us have credit yet. Can we all just co-sign five separate loans for each other? Thanks in advance!”) We will continue to answer such questions with a gentle yet robust one-two slap.

Sharing finances with someone other than a romantic partner is fine. BUT THIS GOES TOO FAR.

Reason #2 we’ve historically cautioned against sharing finances with someone other than a romantic partner?

Times were different.

Sooooooo much has changed since we started this blog. Political unrest, widening inequality, spikes in unemployment, a global pandemic, war, inflation, a new recession… during all this turmoil and strife, I’ve found it clearer than ever that none of us can weather these changes alone. Total independence is a luxury few can afford anymore.

Our systems are designed to make it easy and safe to share money with only two categories of people: spouses and immediate family members. If you don’t have—or want—those traditional ties, it puts a lot of pressure on you to fully and independently support yourself. And if there was ever an era in which that was doable and sustainable, that era has officially passed us the hell by!

Which means we need to reevaluate our stance on sharing finances with someone other than a romantic partner. We need to do better to legitimize chosen families and normalize community support. So today I’m offering a high-level overview of some of the best ways for sharing finances with someone other than a romantic partner.

BONUS EPISODE: "What can I do to prepare for life in a post-Roe world?"

How to Prepare for a Post-Roe World (Bonus Episode)

May 10, 2022January 27, 2023 Lauren Torres ("Kitty") 12 Comments

In a good timeline, no one would have to prepare for a post-Roe world. Reproductive rights would be safely enshrined in our constitution, where they belong. Plus, ice cream would never melt.

Unfortunately, last week’s news made it abundantly clear that we’re in a crappy timeline. I accepted this news with horror, but not surprise. My faith in my elected representatives is as melty as a tub of Americone Dream left on the counter overnight.

But this isn’t the time to despair. It’s time to take action. Someone gave us the incredible gift of forewarning. We have two months to prepare. And there’s a lot of steps you can take to protect yourself and others in your community from the appalling consequences of forced childbirth.

Piggy and I hopped on an impromptu recording session to help our readers and listeners steel themselves for the fall of Roe v. Wade. And I’m thrilled to say we left our aimless thrashing and redundant moralizing on the cutting room floor! (Mostly.) What remained were actionable steps to help you prepare for a post-Roe world.

Listen below, or read on for a text transcript.

How To Protect Cash Savings During High Inflation

May 4, 2022August 2, 2022 Lauren Torres ("Kitty") 23 Comments

We’ve gotten a TON of questions recently from readers trying to protect cash savings during periods of high inflation.

Usually, having mad cash and not being sure how to spend it is a fun problem to solve. (Index funds + a nice seafood dinner at a non-chain restaurant is our default answer.) But right now, high inflation is sucking the pleasure out of Scrooge McDucking on a big pile of cash.

Now is a terrible time to be holding onto cash. Cash savings during times of high inflation are guaranteed to lose value. For example: if you had $1,000 saved a year ago, our 8.5% inflation rate means that money can only buy $915 worth of goods today. It sucks for everyone, but especially so for people who’ve been saving up for a long time to hit a life milestone.

We know how hard our readers work and sacrifice to put money away. And it’s so painful to watch it lose its value because of reasons outside your control. So if you’ve got money sitting idle in your checking account, listen up! We’ll do our best to help you take the sting out of shrinking cash savings during high inflation.

How to COMPLETELY Insulate Yourself From Advertisements

April 5, 2022April 20, 2022 Lauren Torres ("Kitty") 15 Comments

Man, let me tell ya, I hate few things more than advertisements.

Ads are the worst. They waste my time and attention. They make me feel spied-upon. Their fundamental purpose is to part me with my hard-won money. Worst of all, they remind me of my dark past working in marketing. I’m trying to leave that behind me, thank you very much!

You might remember this passage from high school…

“If any one unwarily draws in too close and hears the singing of the Sirens, his wife and children will never welcome him home again, for they sit in a green field and warble him to death with the sweetness of their song. There is a great heap of dead men’s bones lying all around, with the flesh still rotting off them. Therefore pass these Sirens by, and stop your men’s ears with wax that none of them may hear…”

It’s from Homer’s Odyssey. Specifically, it’s the part where the sorceress Bavmorda gives advice to Willow Ufgood (you know, the hero of the Odyssey) about how to navigate temptation.

Although she’s a rapscallion known for turning soldiers into pigs, Bavmorda is also a smart lady who gives pretty good advice. Willow ends up lashing Madmartigan to the mast of their ship while stopping his own ears (and those of the prophesied child Elora Danan) with wax.

The moral of this ancient epic poem? Sometimes, the best way to resist temptation is to physically stop yourself from experiencing it in the first place.

Here are some easy ways to make yourself harder to find—and harder to tempt.

Ask the Bitches: “Do Women Need Different Financial Advice Than Men?”

March 22, 2022March 29, 2022 Lauren Torres ("Kitty") 13 Comments

Today on Ask the Bitches, we’ve got a GREAT question about whether women need different financial advice than men. And it was asked by… A MAN?!

(Cue: crashing thunder, rain SFX, opening cords of “It’s Raining Men.”)

That’s right, doubters and haters. Despite our joyless misandrist ways, we’ve got male readers. We’ve even got male readers who are so into what we talk about they’re willing to pay us for our work by becoming Patreon donors!

One such donor asked us a thought-provoking question about gender and money that initially kinda stumped me. In short: do women need different financial advice than men?

I had a knee-jerk reaction to say “no” and leave it at that. (Helpful!) But as I thought about it, I realized there are some significant biological and cultural differences worth discussing. Let’s start by reading the particulars of Patron Mat’s excellent question.