Good morning HTM Fam! ☀️

A quick mental reset for your Tuesday morning…

“I have to” —> “I get to.” Let’s give it a try…

• “I have to go grocery shopping” —> “I get to go grocery shopping!”

• “I have to exercise —> I get to exercise!”

• “I have to go to work” —> “I get to go to work today!”

Switching out the words “I have to” for “I get to” takes a seemingly daunting task and reframes it as something you are grateful for.

Try making this change for a full day. You may be surprised to realize that many of the chores you complain about doing are actually a total blessing (i.e., being able to buy food, being physically well enough to exercise, having a stable job).

The way we talk about our day ultimately affects the way we experience it. So why not inject a little extra optimism from the start?

Okay, let’s talk about money! 🤑

TO DO

Install a Shopping Browser Extension 🛍️

Sometimes, finding a coupon for an item you need to purchase can feel like searching for a WiFi signal in a concrete basement. 😜

That’s why we recommend installing a shopping browser extension on your internet browser of choice that can search the web for coupons for you. This is one of those personal finance hacks that takes almost no time to set up, and can passively save you money for years to come. Just this week, Honey found me a 20% off coupon that ended up saving me $30 on a purchase!

So, if you haven’t done this yet, set aside 5 minutes today to make it happen! Our personal favorite browser extensions are Honey and Capital One Shopping.

LIFESTYLE

Creating Your Personal Finance “Misogi”

Have you ever had a moment where you wished your life could be as exciting as the heroic stories you read about or watched on the big screen growing up? Have you been longing to defeat an evil dark lord, or perhaps journey to the center of the Earth on a thrilling, high stakes adventure? I know I have…

Sure, maybe we’re just suffering from main character syndrome. But maybe we also could benefit from creating our own personal “misogi.” 😏

Let’s be real here. Most of us could do with a bit more adventure in our lives. I personally have spent wayyyyy more days hunched over my laptop than I’m comfortable admitting. The act of creating a misogi solves this problem for us.

So what is misogi? At its core, it’s about taking on a massive challenge that you have about a 50% shot of completing. Not knowing if you’ll be able to accomplish it ensures that you’ll be pushing your boundaries. It’s all about taking on challenges that show us that we’re capable of more than we might think!

With a typical misogi, most folks take on some kind of physical challenge, but you could easily apply this type of challenge to other aspects of your life. For example, you could apply this to another personal goal, like learning an instrument, or writing a book. You could even apply it to your personal finances! 😉

If you’re looking to make some serious progress on your financial goals, consider creating your own Money Misogi! Here’s what we’d suggest…

A misogi has 2 main rules, and 2 major guidelines to take into consideration:

Rule 1: Make it really challenging - Again, it needs to be difficult enough that you’ll only have a 50/50 shot at completing it. If you already think you’ll be able to easily complete the task, dial up the difficulty.

Rule 2: Be safe - Don’t put yourself in danger to accomplish this. Using a coupon to save money on a prescription is great. Avoiding the doctor at all costs to save money won’t fly.

Guideline 1: Make it unique - The wackier it is, the less you’ll be able to compare it to. Don’t be afraid to think outside of the box when constructing your Money Misogi.

Guideline 2: Don’t share it online - Completing a misogi should be about proving to yourself that you’re capable of anything. It’s not about garnering praise or adoration from others, especially people you don’t even know. Doing it while no one is watching makes it even more challenging and internally rewarding.

And that’s it! With that in mind, I challenge you to create your own personal finance Misogi. Here are a few examples I came up with to get the creative juices flowing…

• Walk/bike to work every single day for an entire year, even in crappy weather.

• Don’t throw out any leftovers for the whole Summer.

• Pay off ALL of your non-mortgage debt before 2025 expires.

• Take the No-spend challenge for a full YEAR.

• Sell 100 things in a year.

• Halve your budget and live off of last month’s income for 2 full months.

• Plan an entirely FREE trip to a destination of your choosing using creativity and travel hacking (excluding food).

It’s easy to get comfortable in our daily routine, but the truth is that we experience the greatest personal growth when we introduce a little discomfort. Taking on a Money Misogi of your own will not only save you money- it could also change you for good in more ways than one. Even if you fail your Money Misogi, the attempt is still thrilling.

Now it’s your turn! Try brainstorming a few ideas for your own personal finance misogi. Feel free to shoot us an email and share yours. Don’t worry, it won’t break guideline number 2 since we won’t be sharing them with anyone else! 😉 

TOGETHER WITH VISIBLE*

Get Verizon service without paying Verizon prices 😎

Visible not only runs on the Verizon Wireless network- its actually owned by Verizon, which has the most extensive cell coverage in the US.

They offer two unlimited plans, starting at $25/month — the more expensive one has faster data speeds and more international capabilities. This means that you can snag Verizon service at a steep discount!

If you own your device, aren’t locked into a contract currently, and top-notch coverage is important for where you live, check out Visible! Depending on how much you’re currently paying, you could cut your phone bill in half!

HOME MAINTENANCE

Are You Budgeting Enough for Home Maintenance? 🧑‍🔧

The summer season brings warmer weather, but in some places it also brings hurricane season. And if you’re caught without enough cash saved up for home maintenance, even a small amount of home damage could put you in a tight financial spot! 😬

Traditional personal finance advice recommends that you budget 1-4% of your home’s value annually for maintenance and repairs. If that sounds like overkill to you, think again. Maintaining a single family home now costs an average of $10,433 per year.

The reasons for these maintenance cost price increases? Inflated costs for materials and labor in addition to supply chain shortages. Aging homes and extreme weather are also increasing the need for more significant repairs.

So, how can YOU be prepared for increased home maintenance prices? And how can you work to reduce these costs?

1. Perform preventative home maintenance regularly- If you want to spend less on your home, it’s imperative that you take care of it regularly. Clean those gutters, maintain your HVAC system, and make sure to deep clean your home regularly. A little elbow grease can save you thousands over time.

   Resources:

   -How to clean your gutters

   -How to maintain your HVAC System

2. Self insure - When small repair needs crop up, you don’t want to go running to your insurance company right away. Making a small claim will leave you paying increased premiums for years to come. Instead, make sure to have enough cash on hand to cover basic repairs. Remember, even if you do need to get insurance involved, you’ll still need to pay your deductible!

3. DIY Repairs - Some home repairs may not require a professional. Instead, you may be able to get away with a couple of YouTube videos and a trip to Home Depot. For example, repairing a leaky faucet or spackling your walls can be easily accomplished by a home repair novice.

4. Create a Sinking Fund - Emergency funds are for expenses you can’t predict. However, when you buy a home you know you will be responsible for repairs in the future. It’s inevitable! That’s why we recommend saving up a separate sinking fund for home maintenance.

5. Check in annually - Your home maintenance budget from 5 years ago might not cut it given today’s prices. Add updating your home maintenance sinking fund to your annual personal finance checklist.

Your home maintenance fund is sort of like an emergency backpack. While you hope you won’t have to empty it out every year, you’ll feel better having it ready to go!

ICYMI

What’s the buzz? 🐝

Stressful Salary Negotiations 😩
In a recent study, graduates reported that they found salary negotiations to be more anxiety inducing than breaking up with a partner. Guys, we promise it isn’t that bad! Here are some negotiation tips that can help you to get paid what you’re worth!

More Homes on the Market! 🏠
According to recent Redfin data, there are approximately 490,041 more houses for sale currently than there are buyers. This is good news for buyers and bad news for sellers. When supply meaningfully outstrips demand, prices are likely to fall.

Post Grad Job Search 🔍
Despite unemployment sitting steady at 4.2%, Yahoo Finance reports that hiring rates are down, meaning those without a job are having a more difficult time finding a new gig. Those most affected? Recent grads, who are enduring higher unemployment rates.

No Tabs 💳
Gen Z-ers are opting not to keep open tabs at the bar, and prefer to close out after every drink purchased. Why? Beyond Gen-Z consuming less alcohol in general, they find that when they pay per drink they keep better track of their spending, and don’t leave without their cards.

COMMUNITY

Recession Recipes 😋

@plantyou

Wacky Cake 🎂
#recipe #cake #wackycake #vegan #vegancake #veganbaking #recipevideo #healthyrecipe #healthyfood #healthydiet #plantbaseddiet... See more

Nobody can predict when or if the next recession will hit, but it’s undeniable that “recession core” is trending! From “recession hair” (which we talked about in a recent Friday Flight), “recession pop” (think Ke$ha), and “no buy” lists, the internet has been flooded with helpful money saving content!

But one of my personal favorites is all of the recession recipes I’ve been seeing, because even in the best economic times, we can all afford to shave a few dollars off our grocery bill.

A quick search for recession recipes on YouTube, TikTok or Instagram will pull up thousands of cheap and healthy recipe inspiration. And, if you’re a history buff, you may enjoy watching creators, like the one linked above, recreating actual Great Depression era meals!

These videos are a great reminder that with a little creativity, we can enjoy delicious meals without completely breaking out budgets!

Stay cool HTM Fam. 😎

Best friends out! 🍻