Issue #59 / June 22, 2018
✨ Catch up on what ya missed this week ✨
Immigrant Family Separation Policy Costs Taxpayers Millions, Goldman Sachs Announces $500 Million Investment in Women
- IMMIGRANT FAMILIES: This week's headlines focused on the 2,000 children who have been separated from their parents at the U.S.-Mexico border. Not only is the move deeply concerning, but it also costs a lot of money, Vox reports. Though President Donald Trump signed an executive order that will stop children from being separated from their families, there are still many who have yet to be reunited with their parents.
- FINDING MEANING IN ADULTHOOD: As we delay marriage and having children, many women are finding different ways to measure adulthood milestones, Bustle reports.
- GOOD ON GOLDMAN: Goldman Sachs announced this week that it will invest $500 million in businesses and financial products run by women, according toBloomberg.
- INTERNET TAX: The Supreme Court ruled Thursday that internet retailers must collect sales taxes in states where they have no physical presence, the New York Times reports.
- INTEL ISSUES: Intel's chief executive officer Brian Krzanich resigned Thursday after it came to light that he had a consensual relationship with an employee that the company found to be in violation of its code of conduct, Reuters reports.
💰She Spends on Patreon💰
This initiative allows you, our readers, to support our creative work with a little cash. We tallied the costs of running She Spends, and it's a whopping $936 per year. We would love your help in keeping up with those costs. Consider supporting us through Patreon, and you'll receive shoutouts, extra newsletters and more in return. Our first goal is $100 per month, which would cover the costs of running SheSpends (plus a little extra). Become a Patron and help us make that goal!
Susan Goldberg on How To Build Leadership Skills
Susan Goldberg didn’t expect to get into leadership consulting. She started her career with a degree in French literature, worked in marketing and for an executive search firm for awhile before opening her own consulting business, only to move to leadership consulting after noticing a hole in the market.
She spoke to She Spends about her experiences with sexism in the workplace, going solo and how to boost your own leadership skills.
This interview has been edited and condensed for clarity.
You started your career in marketing, then made the move to an executive search firm. Tell me about some of your experiences in that industry, and how your workplace looked at the time.
Originally, I came from a marketing background. I started doing consulting for a number of companies, including consumer packaged goods. I was unable to secure the product management position that I wanted, I continued to do marketing consulting and then the market in New York went flat. Two people from an executive search firm found me and said if you can market ideas and strategies, you can market people and opportunities. So I moved to a career in that field.
At one of the firms, we had a wonderful managing partner who actually fired one of the male principals for sexual harassment because of something that happened with me. It happened when the whole company was together for training and development. A co-worker asked me to dance. I said no thank you, but he pulled me onto the dance floor physically. Finally someone had to say to him, she doesn’t want to dance with you. When we went to breakfast the next day, he started insulting me in front of others, and made it very uncomfortable. Someone in HR found out, and approached me about it. I said yes, I do want to file a complaint. It does make me feel uncomfortable. Then the managing partner came to me and said, I heard what happened, there are others who have brought it up to me, and we’d like to take action. Would you give me your statement? I said yes. And so, it wasn’t even a question. This was in the 90s.
How did you end up starting your own business?
I left and was looking to go internally, but some of my clients encouraged me to go external. So I started my own professional search firm. I did that until 2009, and then I started a partnership with another woman. Our partnership was career coaching to supplement our work. That’s what kept us somewhat afloat. We eventually parted ways after we realized that our work styles were completely different.
How did executive searching turn into a leadership consulting business?
Rather than approach me for helping me find their vice president, I was getting more questions on helping me with their day-to-day responsibilities I thought, what’s going on here? Doing some delving, I discovered that these people had awesome technical skills. They were smart and well-respected. They didn’t have the communication and people management skills. There was nowhere to get the help. So I started my own.
How can someone improve their own leadership skills?
There are a few things I would suggest. One, they should join Toastmasters. It teaches you communication and presenting. It’s all about presenting. However, it teaches you how to better communicate on the phone, any kind of interpersonal conversation. As opposed to voice or texting. It makes the personal interaction much less scary. It also gives them a sense of who they are and it gives them confidence when it comes to speaking to others.
Second thing is, I read a lot of the more entrepreneurial magazines. These include Inc.,Fast Company and Harvard Business Review. They are much more in touch with new developments in business than traditional news publications.
Beyond AirBnb: Alternative Accommodations To Keep Travel Costs Low
For a short period after its launch, AirBnb became the hot way to cut back on travel costs. Apartments and homes listed on the site were cheap to rent out. But recently, as the reach of Airbnb has expanded, prices of many accommodations have come close to matching those at hotels in major cities. So how do you keep prices down? These alternative accommodation options are a start.
A hostel is a budget-oriented, low cost hotel-style place to stay. Many involve shared rooms, but some offer private accommodations. They also often feature kitchens, which are a major way to save when it comes to travel: you can purchase breakfast food and eat in the communal area before starting your exploration of your destination. Sometimes, hostels serve meals and host special events for travelers, which is an awesome way to meet your fellow travelers. Definitely bring flip flops for the shared shower, and be sure to check the mattress for bed bugs (though honestly, you should do this any time you travel).
Our favorite place to book hostel is this website. Be sure to read reviews before you book.
World Wide Opportunities on Organic Farms
Traveling as a “WWOOFer,” as the insiders call it, has a lot of perks, but it does also involve some work. Here’s how it works: you sign up to work on farm for a set period of time. In return, they house you and feed you. It’s a great way to get to know the agriculture of your destination. It can also allow you to get close to locals.
Want to learn more? Check out the Federation of WWOOF Organizations here.
Hear us out on this one: camping can be an awesome and cheap way to travel, as long as you do your research. Campsites are often cheaper than hotel stays, and they give you the opportunity to enjoy nature in an immersive way.
If you don’t have gear, ask around. It’s likely that a friend or a co-worker would be able to lend you a tent or cooking equipment. If not, look into rental services in your area. You can use a website like Outdoors Geek to find rental gear. Most national parks boast campsites, which you can learn about finding and registering for here.
TELL US YOUR SPENDING SECRETS!
We're sharing the spending secrets of one woman each week - completely anonymously. This section draws inspiration from Refinery29's Money Diaries and New York magazine's Spending Diaries (gotta give credit where it's due, right?) Click here to take our anonymous survey on spending habits.
How a 28-year-old Virginia-based associate director of admissions verification at a university spends:
- SALARY: I make $40,000 per year as the associate director of admissions verification at a university in Virginia. I have not asked for a raise yet because my employer has a very standardized annual review/performance-based pay increase schedule. I have earned an appropriate pay increase at each new position I have worked over the last three years.
- SAVINGS: I have $2,000 in savings, plus roughly $3,500 in a separate account that we consider an emergency fund.
- MONTHLY EXPENSES: My husband and I have a base mortgage payment of $515 per month, but we pay $740 per month in an effort to pay it off sooner. I do not contribute to a 401(k) but I do pay for health insurance. We use family members' Hulu/Netflix passwords. We subscribe to Amazon Prime and use that for video occasionally. We spend roughly $350/month on utilities, cell service and Dish service (my husband is very attached to his DVR, but it will be the first to go if money ever tightens up).
- DEBT: Excluding our mortgage, our debt is in student loans. We have roughly $4,000 remaining to pay off, and make payments of about $500 a month.
- INVESTING: I have not started investing yet.
- SPENDING VICTORY: We recently paid off the Prius that we bought new in 2013, and paid it off four months early. It has been an incredible investment and permitted us to spend less on fuel when traveling to visit my family in the south and my husband's in the midwest, as well as some vacations.
- SPENDING REGRET: My regret is more of a wish that we began investing sooner. We were broke when we got married six years ago, though, and we simply weren't looking ahead. Now that we're older and wiser, we don't know where to begin!
- CHARITY: We give monthly at our church (usually a little more than 10% of our salaries).
- IF I WON THE LOTTERY: I would pay off our home and student debt, then call up a financial planner friend to help us start investing! (I know, definitely a boring married person response.)
- GOALS: We need to begin investing, but something always seems to hold us back (such as a necessary repair on our second vehicle, moving, etc.), in addition to simply not knowing where to begin. I would also like to live simpler by cutting some unnecessary spending (such as our Dish service) so that we can throw more at our student debt.
Updates, blog posts and other important things:
- FACEBOOKIN': We talked about office dress codes and splitting rent in the Facebook group this week. Join us!
- BOOK CLUB: We're reading Sick: A Memoir by Porochista Khakpour and meeting in New York to talk about it on July 12. Details here.
- CONTRIBUTE: Support us through Patreon! Your patronage can help us continue to create tools that empower women to hammer away at the glass ceiling.
- PATREON SPOTLIGHT: Shoutout to Patreon supporters Shoutout to Patreon supporters Alexis Andreas, Jacob Bell, Lauren Bonner, Mimi Chiahemen, Emma Court, Rachel Creager, Maria Eisenberg, Ellen Kern, Tim Livingston, Duncan Magidson, Carolyn McElhaney, Hanya Moharram, Emily Munson, Gracie Raver, Julia Reinstein, Bill C. Smith, Carmilla Tan and Anita Whitmore Ally-Jane Grossan Kristina King and Sara Rosso. Couldn't do it without you!