Good Morning HTM Fam! 

“You do not rise to the level of your goals. You fall to the level of your systems.”

I saw this quote the other day from “Atomic Habits” author James Clear, and it served as a great reminder that aspirations without hard work and effective habits are just that. Aspirations. 

Developing good financial habits can carry you far, even if you lack a clear vision for what you want your life to look like. You won’t get very far the other way around. 

Just some food for thought as we navigate the week ahead.

Ready for some money stuff? Okay, let’s get into it!

TO DO

Workin’ At The Car Wash 🧼

Let’s keep it real. After a summer full of road trips, hot summer days, and tons of dirt, dust, and pollen circulating the air, your car is begging for a refreshing wash! 

Regularly washing your car not only keeps it looking squeaky clean - it can help your car last longer too Washing your car can prevent rusting, protect against scratches, and keep your paint from chipping. Plus, it’s a little way to show that you’re grateful for the ride you have. 

While you can take it to a drive-through car wash, you’ll save a few bucks by washing it at home. Take care of your car and it’ll take care of you!

BACK TO SCHOOL

Bank-Busting Binders 😬

If you feel like back-to-school prices are higher than ever, you’re not imagining it. Many categories of back-to-school items are priced at least 20% higher than they were pre-pandemic, with backpacks and bags showing the steepest price increases. 

These higher prices mean that many folks are struggling to shoulder the increased cost of these items. To make things worse, 44% of parents surveyed said that they plan to take on debt to cover school supply shopping this year. Yikes!

But fear not, back-to-school shoppers! You can send your kids off to school with some fresh supplies without taking on debt or breaking the bank. Here are a few tips to help lighten the financial burden of this annual cost. 

1. Take stock of what you have - Chances are you’ve still got a few folders, binders, pencils, and pens lying around from previous school years. Even if your materials are lightly used, they are likely still perfectly functional.

2. Buy in Bulk - Buying in bulk can be a great way to save money on school supplies! Even if you don’t have multiple kids, you can team up with neighbors and friends, and divvy up those notebooks! 

3. Compare Prices - Shopping online for school supplies makes it easier to compare prices on products without burning gas driving from store to store. Don’t just knee-jerk purchase from Amazon.

4. Delay Purchases - This advice may be a bit risky, but we often wait a few weeks before buying the entire list of school supplies. Start with the basic supplies, then buy more expensive or additional items as needed. Half of the items on the back-to-school list may not be necessities. Plus, items that you do end up needing could go on clearance after back-to-school shopping ends. 

5. Check Out Thrift Stores - Brand new is overrated. For back-to-school items like clothing or backpacks, check out local thrift stores. You can snag high-quality items at a steep discount, all while helping the environment. Win-win! 

6. Use Teacher/Student Discounts - If you need pricier tech items, like laptops or tablets, make sure to utilize student or teacher discounts at retailers like Apple or Microsoft. For example, college students can get a discount AND a free Apple accessory when buying an iPad, MacBook, or iMac.

7. Borrow/Rent Textbooks - Textbooks can be one of the priciest parts of back-to-school shopping for college students. Renting can be a great option to save money and limit the amount of clutter in your home. Chegg is a great place to rent your textbooks and save some cash.

8. Get Free School Supplies - And lastly, if you’re having trouble affording supplies, don’t take on debt to acquire them. Instead, research local programs that provide school supplies for free. For example, the Salvation Army organizes free school supply distributions! 

Back-to-school season is exciting, but getting ready for that first day of school can be stressful. Don’t let the pressure of back-to-school ads and lengthy school lists break your budget. Instead, get creative about finding back-to-school essentials for less. Be sure to share your favorite back-to-school shopping lists in the HTM Facebook Group! 

TOGETHER WITH YNAB*

Budget Better (And Save $600) 🤑

If you want to save more money this fall and don’t have a good budgeting system in place, you gotta check out YNAB.

The average new user saves over $600 in the first 2 months using YNAB (and over $6k after one year)!

YNAB might be the game changer your finances need. And there’s no harm in trying them out because they have a 34 day free trial. After that, it’s $109 per year.

ICYMI

Let’s Catch You Up…

529 Flexibility 😎
New lawmaking changes have provided extra flexibility to this education investing account. High school graduates can now use the funds within their 529 plans to obtain certifications in fields like auto mechanics, food safety, and other vocational trades.

Coin Conscious Coloradans 😊
A new high school requirement was signed into law in May, mandating that all Colorado high schoolers graduating in 2027-28 and later need to take a personal finance course to graduate. Way to go CO!

“Treat Culture” 🍦
This interesting NYT article discusses the uptick in “sweet treat culture.” Youngsters are apparently willing to bust their budgets to treat themselves. While this article picks on Gen Z, we view this as a bigger trend happening on a larger scale in our culture. It’s important to remember that financial security and peace of mind are the real treat!

“Cents-erely” wishing you an incredible week ahead (see what we did there?).

Best friends out! 🍻