When Selena Gomez launched Rare Beauty back in 2020, the message was simple: break down previous notions that everyone must be perfect, and shine a light on mental health issues.
While this may have broken every budding makeup brand’s dream, brands like Fenty Beauty shared similar, groundbreaking mission statements: bolster inclusivity in the makeup industry and force all brands to do the same in the process.
Inspired by her 2020 album, Rare, Rare Beauty began with the basics: 48 foundation shades, lip balms and matte lip creams, eyebrow definers, and the icon, liquid blush. Four years later, it’s hard to imagine a more viral, innovative celebrity makeup brand that remains in stride with Fenty.
Quickly, the Rare Beauty Soft Pinch Liquid Blush became TikTok’s go-to staple product. And no one can deny there is no blush on the market that is as pigmented, easily blendable, and long-lasting as this one. Selena Gomez has proven herself a bonafide content creator with her charismatic social media posts for fun Rare Beauty launches like an under-eye brightener, an SPF-laden tinted moisturizer, and lip combos.
Not only is Rare Beauty inclusive in shade range, but the spherical shape of the top of their products is disability-friendly.
As of 2024, Rare Beauty is a $2 billion company. But what sets this company apart is their attention to detail and true dedication to bettering the world. The same year that Rare Beauty was founded, the Rare Impact Fund was also created.
What Is The Rare Impact Fund?
In a statement by Gomez on the Rare Impact Fund’s website, she states,
“The Rare Impact Fund is committed to expanding access to mental health services and education for young people everywhere. We work with a strong network of supporters and experts to bring mental health resources into educational settings to reach young people.
Because no one– regardless of age, race, gender, sexual orientation, or background - should struggle alone.”
Upon their start, the Rare Impact Fund committed to raising $100 million by 2030. Along with corporate sponsorships and donations from individuals, 1% of proceeds from all Rare Beauty sales go towards the charity as well. By 2021, they had donated over $1.2 million in grants to eight mental health institutions including Yale Center for Emotional Intelligence.
In 2021, the Rare Impact Fund launched a GoFundMe for their new Mental Health 101 initiative. According to the GoFundMe,
“Mental Health 101 advocates for more mental health in education, empowers our community, and encourages financial support for more mental health services in educational settings through the Rare Impact Fund,”
Promising to match up to $200,000 in donations, to date the GoFundMe has raised over $500,000 and has donations from less than six months ago.
How The Rare Impact Fund Works
By leveraging both Selena Gomez’s millions of social media followers and the four million people who follow Rare Beauty on Instagram, the Rare Impact Fund quickly trickles into visibility. Suddenly, fans of the brand and Gomez alike can help make a difference by donating even a few dollars in honor of their favorite actress-singer extraordinaire.
As of 2023, the Rare Impact Fund helped grantees like UCLA Friends of Semel Institute, Batyr, La Familia, Mindful Life Project, Black Teacher Project, and Trans Lifeline. According to the website, they have raised $6 million in contributions and distributed $3 million in grant support so far.
Rare Beauty and the Rare Impact Fund alone are blazing a trail for all brands: you can make a change while still distributing high-quality products — and it pays off.
Plus, how to apply for unemployment.
A record number of Americans have applied for unemployment benefits in the wake of the coronavirus pandemic. So many, in fact, that there has been a 3000% jump in jobless claims since early March. Unfortunately, the situation is likely to only get worse. According to Citi economist Andrew Hollenhorst, "Further job loss expected in coming weeks is very likely to push unemployment above 10%, even taking account of a potential steep decline in the labor force participation rate, as some displaced workers are neither furloughed nor looking for work."
Of course, if you've been outright fired from your job, you can at least take comfort in the fact that you face a relatively straightforward process for applying for unemployment. But what if you've been furloughed? What do you do now?
What is a furlough?
Furlough's have become increasingly common as the pandemic has continued to devastate the American job market. In short, a furlough is when an employee is put on an unpaid leave from work for an indefinite amount of time. According to the Office for Personnel Management, there are two types of furlough:
"An administrative furlough is a planned event by an agency which is designed to absorb reductions necessitated by downsizing, reduced funding, lack of work, or any budget situation other than a lapse in appropriations. Furloughs that would potentially result from sequestration would generally be considered administrative furloughs."
"A shutdown furlough (also called an emergency furlough) occurs when there is a lapse in appropriations, and can occur at the beginning of a fiscal year, if no funds have been appropriated for that year, or upon expiration of a continuing resolution, if a new continuing resolution or appropriations law is not passed. In a shutdown furlough, an affected agency would have to shut down any activities funded by annual appropriations that are not excepted by law. Typically, an agency will have very little to no lead time to plan and implement a shutdown furlough."
A furlough is, by its nature, temporary, but that doesn't mean that you can count on getting your job back. Many private and public companies have furloughed employees as a cost saving measure in hopes of weathering the economic turmoil of COVID-19 and hiring back furloughed employees as soon as possible, but as economies grind to a halt across the world, it becomes more and more likely that furlough will turn to permanent termination for many workers. As Jie Feng, an assistant professor in the Rutgers School of Management and Labor Relations told the Society for Human Resource Management, "Unlike layoffs, furloughs reduce labor costs without adding new costs such as severance packages and outplacement services." That means that, unfortunately, your company may just be putting off termination in order to avoid the costs associated with it.
While you likely still have healthcare as a furloughed employee, its not a guarantee, so its worth verifying with your specific company what benefits you retain during your leave.
Do I qualify for unemployment if I've been furloughed?
While you wait to see how long your furlough lasts, you can at least take comfort knowing that you probably qualify for unemployment benefits, particularly as they've been expanded under the $2 trillion coronavirus relief package. Usually, it wouldn't be a guarantee that furloughed workers would qualify for unemployment (it depends on the state you live in) but thanks to the new relief packaged, anyone who was furloughed due to the coronavirus outbreak qualifies for unemployment insurance. Additionally, unlike filing for unemployment because you've lost your job, furloughed employees do not have to prove they lost their jobs. Keep in mind that if you're on paid leave or are able to work from home, you won't qualify for the updated unemployment benefits.
According to CNET, you are likely eligible for additional unemployment under the new package if: "you're a part-time or self-employed worker, as well as if you're already unemployed or can't work because of COVID-19."
You are also eligible if:
- You were set to start a new job and can't because of the outbreak
- You collect veteran or Social Security benefits
- Your job closed due to the coronavirus (for instance, restaurants or businesses deemed "nonessential")
- You're not working because you have to care for children or other family members who would otherwise attend school or another facility
So, how much money will I get?
While the total sum of the unemployment money you receive will depend on your state's unemployment plan, the new federal relief package will give you an extra $600 a week on top of whatever you get through your state. It will also cover you for an extra 13 weeks in addition to whatever amount of time your state unemployment program covers. Most states unemployment benefits are upwards of 26 weeks, meaning you're likely to be covered for around 39 weeks. How much money you'll receive is entirely dependent on your state, for example, California residents get $450 a week so the extra $600 would put their weekly benefits at more than $1,000, but Florida residents get a max of $275 per week, putting their total unemployment at a maximum amount of $875.
How do I apply?
There is no way to apply for unemployment via the federal government, so you'll have to find the specific process for your state. Luckily, you can apply immediately. You used to have to wait at least a week to receive benefits, but thanks to the stimulus package you can now expect a more immediate turnaround time. While some states have waived the waiting period, others might still have one implemented. To find out what your state's unemployment program looks like, refer to the table on this site or select your state on this page.
With consumer debt hovering around $14 trillion, more of your peers are in debt than you probably think.
Outrageous medical bills, soaring college loans, and all the other emergencies in life can contribute to mounting credit card debt. That's why more Americans every day are looking to Consolidated Credit, a non-profit organization that helps pull people out of debt.
They've helped over 10 million people on average reduce their total credit card payments by 30-50%.
By working to lower your monthly payments and reduce the interest rate, the service is a no-brainer for anyone struggling with debt.
Their debt counseling services and customer service are unparalleled; those who've gone through the process of trying to manage their debt know it's tough and can't find anything that grants them more relief than Consolidated Credit.
Here are what just a few of their customers have to say about the convenient service.
"We have paid off $250k"
"My husband and I were at a point of stress, fights, and felt like we were drowning. Because of this company we are now breathing easier and making more responsible financial decisions.
By the end of our five year term (3 years in already), we will have paid off nearly 250K in debt!! I recommend them to anyone and everyone struggling." - Stacie K.
"I cannot say enough good things"
"Our [Debt Consolidation Counselor] was knowledgeable, professional, comprehensive, kind, and answered all my questions in a PATIENT AND THOROUGH context. I cannot say enough good things about [our counselor]." - Dave C.
"Very grateful for the help and peace of mind."
"I am very grateful for the help and peace of mind the Consolidated program has given me. Life can be financially overwhelming at times. It is very satisfying to have a program that puts one back on the road to financial security. Thank you, Consolidated Credit!" - Carol G.
"It becomes easier and easier"
"There is light at the end of the tunnel. I was struggling with overwhelming debt and did this as a last attempt. They definitely drilled into me that I was not being responsible, which I wasn't. After everything is set up it becomes easier and easier." - Joseph M.
"Consolidated Credit came to the rescue."
"Almost there!!! I was totally buried in debt but CC came to the rescue. I am now ONLY THREE MONTHS away from being free of seven credit card payments! CC is a God-send." - Deb F.
In some circumstances, you need to rely on credit cards. When you feel like you're relying on credit cards too much, it's time to rely on Consolidated Credit. They make it easy to get on top of your finances and not only get out of debt, but stay out of debt.
Investing on the stock market can be intimidating, but we're here to help
Millennials don't trust the stock market.
That is the finding from the most recent Merrill Edge Report, which found 66% of Millennials trusted their savings accounts would be reliable in 20 years. In contrast, 71% Gen-Xers trust in their 401(k), while 54% of Baby Boomers believe in their pension. Generationally, it makes sense. Rock-solid pensions of the distant past were a foolproof reward for a life's work. The rise of the stock market from the 1980s-2000s made the same 401(k) seem like a safe profitable bet. And, the financial crisis of 2008–spurred on by massive institutional fraud rewarded with federal taxpayer bailouts—combined with years of stagnant wage growth, ever-increasing income inequality, and ever-higher cost-of-living expenses, means younger workers trust their saving accounts and nothing else. Can you blame them?
(Once and for all, avocado toast plays no role in whether Millennials save for a starter home. It's the impenetrable big-bucks-or-GTFO economy, not the breakfast food, stupid.)
It's understandable, but it's not necessarily prudent.
It's good to have savings, of course, but more as a short-term emergency fund. Long-term, there simply isn't enough of a reward. The national percentage yield average of traditional banks is only .07%, going up to 1.0% or a bit higher at at online banks. Look at it this way, banks take money from savings accounts and loan it out at much higher rates, so you're making it easier for fat cats who already live on easy street.
Investing is smarter for future financial health, and it isn't just for the wealthy. Here are some tips to get started, even with a small amount. Warren Buffett defines investing as "the process of laying out money now to receive more in the future." Your portfolio probably won't get up to $87-billion, but a little piece of Buffet's pie will offer future peace of mind. The "Oracle of Omaha" bought his first stock at 11, you've got catching up to do. Thus:
Get Started Today:
Investing can be intimidating, and nobody likes a no-fun eat-your-vegetables spending scold. (See: toast, avocado.) However, adding a few nip-and-spending-tucks, could give you an extra $10 a week, which is $40 a month to invest, almost $500 a year. Start with whatever you can afford because the longer you're in, the more money you'll make. Even if you start out with a saving account, getting in the habit is the important thing.
Collect Change in a Coffee Can:
If formal budgeting of some sort is too tough, try throwing loose change, crumpled dollar bills, and random poker winnings into a coffee can designated for investments. It sounds silly, but it adds up. It takes diligence not to treat the can as a beer slush fund, but it's an easy way to contribute more to your starter investment kit. There are also more options available if you start out with $1,000 than $100, so whatever gets you there.
Talk to a Professional:
Once you've decided investing makes sense, go to your bank and talk to someone about basic investment strategies. You may grasp the difference between low-initial-investment mutual funds (investments in a portfolio of stocks and bonds) and Treasury securities (savings bonds), but it helps to get outside advice on what is a better starting point. For a lot of us, financial literacy begins and ends with our bank accounts, so seek out those who know the basics of expanding your portfolio.
Enroll in Your Employer's Retirement Plan:
Here's a quick story about a stupid Gen-Xer, me. I once spent a year at a company without investing in my 401(k) until a co-worker told me "You know that's free money, right?" (Ron Howard voice: He did not.) The term "free money" is somewhat fungible, but many employers match whatever you contribute to the 401(k), which compounds over time. Start at 1% of your salary if it's all you can afford and increase it over time until it's a full match. Whatever you contribute, the retirement fund doubles. Call your HR department today.
Get Set Up with a Roth IRA:
If you're part of the gig economy and have no 401(k) option, then consider a Roth IRA, a retirement account that can be opened online in a matter of minutes. If you're single, under 50, and make less than $120,000 a year, you can sock away up to $5,500 a year. The beauty of a Roth IRA is your money grows tax-free and can be withdrawn tax-free. There are a number of benefits for Roth IRA enrollees, including for first-time home buyers, which is something you may become even if it seems impossible at the moment. Because down the line, you will have been investing for years, right?
You don't have to wade into the murky bitcoin waters to get into investing online. There are much more basic websites and apps to help you learn and grow as an investor. One to try if you don't trust your ability to pick stocks and bonds at this point, sign up with Betterment, an automatically managed investment account that's user-friendly and charges an annual fee (as opposed to per transaction).
Good luck! And many happy returns.