This article is in collaboration with ValuedVoice. 

Did you know that….

• 45% of American entrepreneurs are women?
• Since 2012, overall business growth has sat at 19%, but those owned by women have grown by 26%?
• Annual revenues of women-owned businesses have grown by 23% since 2012?

Pretty neat stats! (You can catch more of them from AEO.)

Unfortunately, women-owned businesses still have a harder time accessing capital and credit, which makes getting off the ground more difficult. Today, we’ll talk about some ways you can access funding, and some strategies to lower overhead when you’re building in a cash crunch.

Accessing funding

Getting access to credit is more difficult when you’re a woman starting a business. If you’re looking for a lender who will work with you, SBA lending to women-owned businesses has increased by about 70% since 2020.

Plus the SBA runs Women’s Business Centers across the country. These centers offer advice and training resources. A lot of times these resources are free, but when there is a charge it’s usually pretty low-cost.

There are certain VCs that specifically invest in women’s businesses, like Backstage Capital and the Female Founders Fund.

Another resource to explore is grant funding. Grants are money you don’t have to pay back — either through loan payments or returns for investors. If you’re an entrepreneur working in a creative field, Danielle Desir Corbett puts together a fantastic newsletter with a plethora of grant funding opportunities.

Saving on Costs

When I interviewed women entrepreneurs for The Feminist Financial Handbook, one of the key things I heard was that keeping your overhead low early on is absolutely key to success. One of the women relayed renting a physical space for her business, as well as hiring on one employee. The employee in particular was a pricey expense, and one that almost threw her under.

That’s not to say that employing people can’t or shouldn’t be a long-term goal. But a lot of times when you’re first getting started, you may feel like you need to hit that goal off the bat. When you take it on before your business is actually ready for it, the costs might impede the very growth you need to sustain it.

Aside from avoiding over-investing too early, there are other ways to save money. For example, if you need to purchase business insurance, check with your independent agent or the company that already holds your personal lines insurance. They may be able to bundle these insurance policies together so you can score a multi-policy discount.

Similarly, if you are running out of an office, you can bundle business phone and internet together to score lower rates — just like you would at home.

Networking

When you think about money as a small business owner, networking might not be the first thing that comes to mind. But the people you network with can have big impacts on your bottom line.

They can connect you with investors. They can clue you in to vendor discounts. They can introduce you to new customers and clients.

Don’t be overly concerned with connecting with the biggest names in your industry at the get-go. Maybe that’ll work out for you, but maybe the power imbalance will result in an opportunity squandered.

Start by connecting with people who are in a similar stage as you are. As you both grow and support each other (remember — this is a two-way street!), you’ll open up doors and opportunities together along the way.

 

The long-awaited day is here:

The first BCBS settlement payments are finally going out, nearly 4.5 years after the last claimants joined the class-action lawsuit.

People are DISAPPOINTED about the amounts they’re getting. Anecdotally, at the time of writing many people are reporting receiving ~0.005% of the qualified premiums they included in the suit. Anecdotes are not guarantees…it’s just what other people are saying they received so far.

If you have received a payment already, it’s highly likely that you opted to be paid via a prepaid Visa® card. This was advertised as the fastest way to get paid.

But there are some things you should know before you fill up a quarter tank of gas with your settlement money.

What to know about the BCBS Settlement prepaid Visa card

Any time you have a prepaid card, there are some things you need to be aware of. BCBS settlement payments are no exception.

This list is not all inclusive — it’s just top-of-line things I personally think are important to know as a veteran personal finance writer. If you want to get the full scoop, you can dive into the fine print of the cardholder agreement here.

Be mindful of fees

If you think your settlement payment is small now, be careful not to let it sit for too long. Because it could get smaller.

Fees are not uncommon on prepaid cards. The fees on the BCBS settlement cards are not the worst. But they are something to be mindful of.

Monthly inactivity fee

If you let your card sit inactive for 18 months in a row, you will start to be charged an inactivity fee. This fee is $0.75 per month.

Foreign transaction fee

If you spend on your card outside the U.S., you’ll incur a 3% foreign transaction fee. This is not outside the norm — many regular degular credit and debit cards have similar fee structures.

You’re also going to be subject to the card issuers’ (Visa’s) foreign exchange rates. In my experience, card issuer exchange rates tend to be bad. But I can’t speak for Visa’s rates specifically at any given point in time.

The cheapest way to spend your card money is in America, though.

Lost or Stolen Card Fee

If you lose your card or it gets stolen, you will have to pay for a replacement. The fee is $5.95.

Be sure to record your card information somewhere safe. If your card does disappear, you’ll need to provide this information to get the new one. You’ll also have to wait for up to 30 days for the replacement to be issued.

What if I don’t want my money on a card anymore?

Now, if you purposefully terminate and destroy the card, you can request that Choice Digital issue you a paper check for the remaining balance.

Be in careful contact with Choice Digital before you do any destruction, though. If you have any phone conversations, be sure to follow up with written correspondence and confirmation.  You can do this by snail mail, but it’s easier and equally valid to do it by email.

Your BCBS Settlement prepaid card does expire.

Check the expiration date when you enter the code to activate your card. If your card expires or is shut down due to inactivity (which, don’t forget, comes with fees), your balance doesn’t evaporate. You just won’t be able to use the card anymore.

At this point, you’d want to get in touch with Choice Digital to figure out next steps. If it expires and no one is in touch with you, eventually they have to send the remaining balance to the Unclaimed Funds department at your state treasury.

You can convert to a physical card.

If having a prepaid card is a pain, having a virtual prepaid card is worse. Yet, the default in this situation is digital.

You are able to convert your virtual card into a physical one. You have to call the support number on Choice Digital’s contact page to initiate the process.

You can’t use your prepaid card just anywhere.

Virtual prepaid cards can generally be used to pay online. The physical cards are a little more flexible, and can be used to pay in-person anywhere Visa cards are accepted — as long as the merchant accepts prepaid cards.

Regardless of which one you have, there are some restrictions on your card. You can’t use it to withdraw cash from an ATM, for example. While you can use it to pay for gas, you’re going to have to pay inside rather than at the pump.

Some other explicit restrictions on BCBS settlement prepaid cards include:

• Subscription fees
• Automatic bill pay
• Paying off your credit card balance
• Pharmacies
• Digital games
• Sports betting (or any gambling)
• Crypto
• Stocks or bonds
• Pawn shop purchases
• Dating app purchases
• Expensive fancy stuff, like high-end watches from a jewelry store

Again, not an exhaustive list. Check your card agreement when you activate to see every last thing you cannot buy.

Do not hold your breath and hope there’s enough money on your card.

You’re not supposed to be able to overdraw on your prepaid settlement card. If you swipe for a purchase that costs more than what you have on there, the idea is that the transaction shouldn’t get processed.

However, if for some reason it does go through when it shouldn’t, you are responsible for paying the difference back. Do the math before you press ‘pay.’

You’re giving away a lot of personal data when you use a third-party login.

Signing in with Google, LinkedIn or Facebook feels super easy. And it does reduce friction.

But it also gives away a lot of your personal data. Here’s how Choice Digital puts it in their Terms of Service:

“If you connect the Service with a third party service…you give us permission to access and use your information from that third party service as permitted by that service, and to store your login credentials for that service; all information we receive from such third party service will be deemed Registration Information.”

You don’t have protection like you would with a credit card.

A prepaid card is not a credit card. If you suspect a fraudulent charge on your credit account, the issuer usually refunds the purchase to you while they sort it out.

As a general rule, if money gets stolen off of a prepaid credit card, you’re not typically given that benefit of the doubt — especially not upfront with immediacy. The money that’s stolen is more likely to stay stolen.

Though you can contact Choice Digital to see what they can suss out for you. Part of that may require issuing you a new card, in which case you’re in ‘lost or stolen card’ territory.

The fine print is important

There’s a lot more in the cardholder agreement and terms of service, like the fact that you’re responsible for paying taxes on your settlement (even if the amount you got is too small for the lawyers to issue you a 1099.) By using the card, you’re also waiving your right to a jury trial should you hit any bumps in the road.

The fees could be worse.

It’s nice — albeit a little inconvenient — that you can turn your digital prepaid card into a physical one or even turn your balance into a paper check.

But this method of payment, while speedier in terms of issuance, is going to require a little extra homework as you go to use it.

This article is brought to you and contributed by an outside writer. 

I’m willing to bet you have several subscription fees coming out of your bank account automatically each month. And I’m also willing to bet that when you sit down with your budget, these forgotten-recurring fees have you rethinking your entertainment spending. Streaming is convenient, but those of us old enough to remember kind of miss the feeling of actually owning an album. Vinyl records, CDs, and cassette tapes… In some circumstances, collecting is not just a hobby but a more thoughtful way to spend.

Shifting back to owning physical music media isn’t about turning away from modern technology. It’s part of a bigger trend toward mindful spending. Instead of paying for endless access, collectors buy items they can hold, display, and enjoy for years. This small but meaningful step fits with bigger financial goals: spending with purpose and building lasting value.

Why Nostalgia Plays A Powerful Role

Nostalgia is more than just a sentimental feeling. It can strongly influence how we spend money. People connect music to special moments in life, like road trips, late-night studying, or family gatherings. Owning a physical album makes those memories feel more real and easier to revisit.

Physical collections last, unlike digital playlists that can change or disappear. This stability is comforting in a world where much feels temporary. For people watching their budgets, it’s a reminder that purchases should bring long-term emotional value, not just quick convenience. .

Building A Collection Without Overspending

You don’t need to spend hundreds of dollars to start a music collection. Many collectors start small and add to their collections over time. The key is to have a plan.

Thrift stores, secondhand shops, and local markets are great places to find affordable music. You can often pick up classic albums for much less than their original price. Online marketplaces also offer good deals if you’re patient and wait for the right moment.

Another good idea is to set a monthly budget for collecting. By deciding on a set amount, you can enjoy your hobby without hurting your bigger financial plans. This way, collecting feels fun and guilt-free instead of an impulse buy.

If you want to browse a curated selection, platforms like Evergreen Vinyl have a variety of vinyl records, CDs, and more. This makes it easier to find special additions to your collection without spending hours searching.

The Financial Benefits Of Physical Media

Music collecting is usually seen as a hobby, but it can also have financial benefits. Physical media keeps its value over time, unlike digital subscriptions. Some albums, especially rare or limited editions, can become more valuable.

Not every purchase will make money. But shifting your focus from spending to keeping value has its perks. You’re not only buying music — you’re getting items that can be sold, traded, or handed down later.

Owning your music can help you save money in the long run. Once your library is large enough, you can ditch those monthly fees you’re paying for streaming services. (And if it’s not big enough yet? YouTube is free, and the most widely used platform for listening to music.)

Creating A Personal And Meaningful Collection

One of the best parts of collecting is making something that feels truly personal. Your collection shows your taste, experiences, and who you are. Unlike playlists made by algorithms, it tells your own unique story.

You can use this opportunity to rediscover artists you loved in the past or explore genres you never had time for before. Some focus on building collections around specific themes—such as empowering artists, nostalgic hits from a certain decade, or albums tied to important life events.

Being intentional makes your collection more meaningful and helps you avoid overspending. When you know what you want, you’re less likely to buy things that don’t matter to you.

Turning Collecting Into A Social And Budget-Friendly Hobby

Collecting music doesn’t have to be something you do alone. It can be a social and affordable hobby. Record swaps, local meetups, and online groups let collectors share, trade, and find new music without spending money.

These interactions often lead to better deals and valuable insights. Experienced collectors offer advice on pricing, quality, and where to find hidden gems. For beginners, this guidance prevents costly mistakes and makes the process enjoyable.

Hosting small listening sessions at home is another great way to enjoy your collection. Instead of spending money going out, you can have special moments with friends using music you have.

Balancing Joy And Financial Responsibility

At its core, building a music collection is about balance. It’s finding joy in the process while staying aligned with your financial goals. This is especially important in today’s economic climate, where every purchase carries more weight.

If you treat collecting as a mindful habit instead of a spur-of-the-moment one, you get the best of both worlds. You enjoy owning something special and keep your budget on track. Simple strategies like tracking your spending, setting limits, and choosing quality over quantity can make a big difference. Over time, these habits help in other parts of your financial life, too.

A Modern Take On Frugality

Frugality is often misunderstood as deprivation, but modern frugality is about making smarter choices, not sacrificing joy. Building a music collection on a budget perfectly embodies this philosophy.

Instead of buying every new release or following every trend, collectors are focusing on what matters most to them. They choose quality over quantity, meaning over convenience, and long- term value instead of quick rewards.

This approach not only leads to a more fulfilling hobby but also reinforces positive financial behaviors. It shows that you don’t have to give up the things you love to be financially responsible—you just need to engage with them more thoughtfully.

The Lasting Impact Of Thoughtful Spending

As more people choose to spend with intention, hobbies like music collecting are changing. They’re now seen as meaningful investments in happiness and well-being, not just as indulgences.

A carefully curated collection becomes more than just a set of albums—it becomes a soundtrack to your life. Each piece carries a story, a memory, or a feeling that can be revisited anytime.

In the end, smart spending doesn’t mean giving up joy. It’s about deciding where your money goes and making sure it brings lasting value. For many women, building a music collection brings together nostalgia, creativity, and financial mindfulness.