Hello friends!
Happy New Year! Oh how I missed you all! I’m writing this newsletter from Cape Cod, where I spent the last couple of days on a retreat of sorts. I let myself have a some time away so I could plan for 2024 and take steps toward creating the next version of The Purse. (Thank you, Ken, for holding down the fort so I could do this.) And while I’ve missed my family like crazy, and it’s kind of weird (and sometimes creepy) to be in a big house by myself, overall this has been a good, productive experience.
As part of the retreat, I did Year Compass, a free, year-in-review exercise that walks you through the previous year and helps you plan for what you want to accomplish next. I highly recommend the exercise. It gave me a lot of clarity on what worked in 2023 and what I want to do in 2024. As part of the process, you choose a word for the new year. I ping-ponged between two words: growth and abundance. While I do want to do a lot of growing this year (especially with this newsletter), I ultimately decided abundance was a better word because it helps me remember that I already have so much.
About a year ago, I had a similar weekend alone, though I was in New York while Ken and our kid were visiting my in-laws. At the time, I was really unhappy in my full-time job, and I knew I had to make a change. I remember sitting in a coffee shop in Manhattan, writing a list of everyone I wanted to reach out to in order to start making plans to leave my job. At the time, I thought I’d just find another full-time role.
But I had an inkling of an idea that I just couldn’t shake. What if I could create a Money Diaries 2.0? And what if I also threw in some personal finance articles so people could learn about money alongside reading the diaries? And what if I elevated the whole thing, so it was geared to a slightly older audience, women from 30ish to 50ish, who were really in the thick of it, with homes and careers and families and investment accounts? As someone sitting smack dab in the middle of this demographic, I felt like we are pretty much forgotten when it comes to money advice, and yet we still need good, reliable information on credit cards and brokerages and life insurance.
On February 11, 2023, I texted my friend Vanessa: “What if I called my site, The Purse? Too girly?” She encouraged me to keep brainstorming. Over the next few months, I was constantly adding names to a long list on my phone’s notes app. “Exit Strategy.” “Argent Diaries.” “Bread and Butter.” But I could never shake how I felt about The Purse. Yes, it was a little feminine, but it was also so simple. And for many women, a purse is an essential accessory that usually holds so much more than our wallets. You can learn a lot about a woman by digging through her handbag.
When I launched The Purse on June 1, I started with an essay about the decision to quit my job. Over the next six months, I wrote about myself a lot. Maybe too much? I guess I had a lot to say? I loved writing those essays—but it was even more fun when I could bring in other voices into the mix. And that was the original point of The Purse. It was never supposed to be The Lindsey Show (though that is the name of my LLC). The Purse is a place where all kinds of women can share their stories about money and work and life and more.
Going through the survey results this week (a big thank you to all who participated), a recurring theme was the request to hear from more women about their own experiences. This just reinforced what I had already been feeling and was the kick in the butt I needed to stop telling myself that I’m going to evolve this newsletter and actually do it.
So over the next few months (and beyond, honestly, because projects like these should always be evolving), I’m going to be experimenting with some new formats and bringing in more stories from other people. Don’t worry: There will still be regular essays from me on a variety of topics that are mostly money related.
One series I’m kicking off in February is called Home Economics. It’s a bit like Money Diaries, where the writer gets into the nitty-gritty of their spending (anonymously, of course). But unlike the OG MD, it won’t track the diarist’s spending over a week. Rather, it will look at monthly expenses, and there will be a series of questions that will hopefully shed a bit more light on their true financial situation. Most of us can point to one friend and think, How the hell do they afford their lifestyle? Hopefully Home Economics will offer some answers.
If you’re interested in participating, reply to this email, and I’ll share the Google form.
The second project I’m looking to launch in 2024 is a program for women who want to get their finances in better order. In the cohort, we’ll be tackling everything from opening a high-yield savings account to setting up an estate plan. I’m keeping the first group small, and while we’ll do most sessions online, I’d like this first group to be New York City-based so we potentially meet in person once or twice. If you’re interested, please email me.
And last but not least (because if I’m not insanely busy what’s the point?!), stay tuned for a new website coming by March. This will be a place to go for advice on personal finance topics, like choosing the right credit card, why you should avoid whole life insurance, and whether you need a financial advisor (and how to hire one if you do).
I also love to hear from you, dear readers, on the things you care about and want to learn. You all help me make this a more interesting and useful newsletter.
That’s it. That’s the plan for 2024. At least, for Q1 2024. Who knows what the rest of the year will bring? Thank you for being my accountability buddies! And for showing up each week and reading this newsletter. I feel so lucky to have such amazing readers!
xx
Lindsey
p.s. This newsletter might look a little different this week. I’ve made the move to Substack. (For those who aren’t familiar, it’s just a different email platform.) The newsletter will continue to be free, but there’s an option to pledge support if you’d like. Anything you pledge is directly reinvested in the newsletter.
Thanks for sharing Year Compass! I printed a booklet for me and for my husband. Also, Money diaries 2.0! I’m here for Home Economics and can’t wait to read this series.
Hi there, new to your newsletter and interested in joining the NYC cohort!