Best of The Web: Hosted by Allison from Fabric

I’m honored to be part of this community and to help share some of the best stories on the web when it comes to personal finance and making our lives richer—in all senses of the word.

I’m the editorial director at Fabric, where I’m building out a personal finance and lifestyle publication for parents. We talk about everything from the serious stuff (what is term life insurance, exactly?) to the stuff that really makes you tick (how do you maximize your time with your spouse and kids?).

3 Good Reads

How to Protect Your Child’s Credit

In my opinion, the interesting thing here is that we often think about safeguarding our own credit report, but it’s easy not to think about our children’s. My baby doesn’t even know how to walk and talk—why, or how, would anyone steal her identity or ruin her credit?

That’s the thing. It happens. Here’s what to know, and how to deal with it.


How Social Media and FOMO Wire You to Spend Money

Honestly, I’m pretty frugal. I don’t personally feel like social media has me hemorrhaging money, but I think a lot about how technology will affect my child. In addition to “should we hide our phones from her?” and “how should we react to advertising?” we should probably add social media to the list.

I consider this additional inspiration to be conscious about what I show my baby, and how, and when.


The Huge Difference Between Being in Debt and Having Debt

Having a kid can be a financial strain, so I thought this article was helpful because it addresses the mindset behind debt. Going beyond just the dollars and cents, this is a thoughtful analysis of the kinds of debt that’s out there, and the psychology behind how people get into debt—and how they can get out of it. The understanding of the difference between being “in debt” and “having debt” are simple but also profound. It’s a psychological shift that can really pay dividends (heh).

I also appreciate how this story feels hopeful. Even if you’re deeply in the red, there’s a way out, and this reminds us of that.

Must-Read Article From Fabric:

How Losing Weight Could Save You Over $3,000!

This article was a labor of love. I spoke to underwriters and crunched risk tables to fully understand how losing (or gaining) weight could change how much you pay for term life insurance over time. For the fairest representation, I took the “perfectly average” American man and woman—average weight, average height, average age and even super common names from the eighties.

As it turns out, if the average American woman weighed just 10 pounds less, she could save about $3,200 on term life insurance over 20 years. And if the average American man weighed 15 pounds less, he could save about $3,800. (Based on data from Fabric’s own 20-year term life insurance policy.)

If you EVER needed inspiration to finally lose that holiday weight, potentially saving thousands of dollars should do the trick!

Geeky Fact About Me

In addition to writing about personal finance, I also write fiction. It’s something I care a lot about. While I’m still toiling away on finding a publisher for my novel, I’ve had a number of short stories published in literary magazines. If you want to read something totally unlike what I write for my day job, check it out.

 Thank You, Allison, for a great post.

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About the Author

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Michael launched Your Money Geek to make personal fun and accessible. He has worked in personal finance for over 20 years, helping families reduce taxes, increase their income and save for retirement. Michael is passionate about personal finance, side hustles, and all things geeky.

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