I believe women deserve to get paid for their work

And that (gulp!) includes me.

Just a woman trying not to be completely mortified asking you to upgrade your subscription to paid.

I’ve struggled with how to begin this newsletter. What I’m about to ask makes me feel deeply uncomfortable! But sometimes you just have to push yourself outside your comfort zone and do the hard thing. And that’s what I’m doing today.

I’m sending this email on a Sunday afternoon to ask you, my many free subscribers and regular readers, to upgrade to paid.

I feel very strongly that people should be paid fairly for the work they do. And this mission, so to speak, impacts nearly everything I do in both my professional and personal life. 

Last week, I encouraged a freelancer friend to ask for more when the publication she regularly writes for tried to sneak a rate cut by her. (It worked; they agreed to the original rate.)

I sent an email offering advice and background information to one of my former reporters who was wondering how she might best go about asking for a raise.

And after lunch with another former colleague (and new freelancer), I went home and sent off a handful of emails to editors I know who might be looking to add new writers to their rosters.

I love to help. I love to give a pep talk and make an intro and do anything within my power to help my friends advance their careers and causes.

But advocating for myself? I’m not always so great at this. And getting paid what I deserve for the work I do? Hoo boy! Is that ever a point of anxiety in my life! 

A few weeks ago, I turned on paid subscriptions for this newsletter. My friend Meggie Palmer, whom I interviewed for the story about salary transparency, encouraged me to take this big step. During our chat, we were marveling at how it feels like Gen Z has less anxiety around asking for money for the work they do—and how inspiring it is. Meggie’s company Pep Talk Her gives women tools to negotiate and advocate for themselves. If you’re going to get advice on getting paid your worth, Meggie is the perfect person to go to.

And so I took the plunge, and at the very end of a 2,000-word article, I included a note announcing that I had turned on paid subscriptions, but that I wasn’t putting up a paywall. I was nervous about making this ask, so I kind of hid it at the bottom not really sure what to expect.

That email went out to nearly 6,000 people. Two people signed up for paid subscriptions. Since then, I’ve added two more paid subscribers. In full transparency, I have 38 total, in part because some wonderful people pledged subscriptions before I decided to turn on paid. (Including my mom and dad!) I’m so grateful to everyone who’s invested in my work so far. But when Meggie checked in to see how things went, it all felt so anticlimactic that I wasn’t sure what to say, so I just never responded to her text. (Sorry, Meggie.)

I’m not sure why I feel so weird charging for this newsletter. Every week, I show up in your inbox with a well-reported, well-written newsletter. This is good stuff! (At least I think it is!) If I was advising someone else—especially someone with my years of experience—I would definitely tell them they deserve to get paid for the work they do. But the truth is, it’s always easier to give advice than it is to take it.

Then last week, I was in my certified financial planner class, and the professor brought up the topic of payment. 

“Do not be ashamed to ask friends and family to pay for the work you do for them,” he told us.

And while the context of this statement was about charging for financial plans, it struck me that the advice also applies to The Purse. I spend hours every week working on this newsletter that is a labor of love. But nearly a year in, it also needs to be a source of income. 

I feel very strongly that I don’t want to start putting stories or commenting privileges behind a paywall. I adore the nascent community that is forming here. Last week, thousands of you read about “Divorced in Colorado,” and dozens left comments in support of this woman’s financial struggles and transparency. It’s important to tell these stories. And it’s so satisfying to see the same names pop up in the comments week after week. It feels like we’re building something special here.

But if I don’t put stories behind the paywall that means I’m going to need to rely on some of you loyal readers to do your part. Think of this as an NPR fund drive, but I’m not a nonprofit and you won’t get a tote bag for your pledge. Still, every subscriber dollar is reinvested in The Purse and allows me to continue spending my time writing and building this community.

Some new free subscribers might be wondering who the heck I am to ask and expect to be paid? It’s funny: In the past few years, when I worked full-time, I got pretty good at negotiating for myself when it was a big organization that was responsible for paying my salary—I was confident in the skills I brought to the table. I find it much harder as a freelancer and often feel like I’m undervaluing my work. (A topic for another newsletter perhaps!) And it’s even harder when it comes to this newsletter when I worry I’m just another writer in a crowded space. But as I have to remind myself regularly, I’m not nobody. (And for the record, we’re all somebodies, and we all deserve to be paid a fair wage!)

For those who are unfamiliar with my bio, I’ve been writing and editing stories about personal finance for a decade. I helped to launch Refinery29’s Money Diaries, and I wrote a book and hosted a podcast based on the series. I held editorial leadership roles at CNBC and Fortune. And right now I’m studying to be a certified financial planner, so I can bring an even deeper wealth of knowledge to my work.

I could probably be paid well to do this for an established media organization, but after years of working for others and not quite seeing my vision come to life, I want to do it on my own. I’m grateful that Substack gives me a platform. I’m grateful that so many people are already interested in the work. Now comes the hard part: making money.

So this is my Sunday afternoon request: Please upgrade your subscription to paid. I think my writing and this community is worth it. I hope you do, too.

And to sweeten the deal, I’m offering a reader giveaway. New paid subscribers who sign up between now and May 1, 2024, will be automatically entered to win a fun bundle that includes a copy of Fran Hauser’s journal Reflect and Reset; Manisha Thakor’s wonderful book MoneyZen: The Secret to Finding Your Enough; a signed copy of my book, Refinery29 Money Diaries: Everything You've Ever Wanted to Know about Your Finances... and Everyone Else's; and a $10 Starbucks gift card.*

If it’s not in your budget to upgrade your subscription, I completely understand. I just appreciate you reading and sharing and commenting. The Purse means so much to me, and I’m glad it means something to you readers.

Now, I’m going to hide my phone and try not to obsess over how many people are reading and signing up for paid subscriptions. (And also unsubscribing, LOL, since that’s inevitable with every newsletter I send!) 

Thank you. Truly from the bottom of my heart. 

xx

Lindsey

*The sweepstakes is limited to readers within the U.S. It closes at 11:59 p.m. ET on May 1, 2024. To enter without upgrading to a paid subscription, please reply to this email by 11:59 p.m. ET on May 1, 2024, that you would like to be entered in the sweepstakes. If there’s any further questions, simply respond to this email and I will do my best to answer them.