Good morning, HTM family!

You might notice a new look and feel to this newsletter… it’s because we just switched email platforms!

One big (and exciting!) reason we changed: This new software allows us to launch a killer referral program, giving you guys a chance to win prizes and other cool stuff (like a pair of the much coveted HTM socks! 🧦)!!!

Here's how it works:

• First, click here to visit your personal referral "hub". It'll take you to a page that looks like this 👇

• There's a personal referral link at the top of the page.

• Share that link with your friends and have them sign up to the newsletter.

• Win rewards as more people join!!!

We'll also include a button at the bottom of each newsletter going forward so you can always check out your hub and referral stats. It'll look like this! 👇

Like any new software, we're still ironing out kinks and learning. So please excuse anything funky you see and bear with us as we figure this stuff out. 🙏

And THANK YOU for helping HTM grow and sharing good money practices with your friends. Growing wealth is better when it's done *together!*

OK, onto the money news! 👇👇👇

TO DO

Get An Identity Protection PIN! 🕵️

Tax-related identity theft is on the rise! But fear not... The IRS can provide you with an Identity Protection PIN so that nobody (except you) can file tax returns using your SSN or personal info.

The PIN only lasts 1 year, and it's a 6 digit code that only you and the IRS know. You can apply for one here and here's a bunch of FAQ's about the program.

Never hurts to have an added layer of ID protection. 💪

SAVING

Hidden Costs of Coupons 💸

Everybody loves a good discount!

But, there's actually some hidden costs associated with most coupons. After all, they are designed to get you spending more, not less.

A few sneaky coupon tricks to watch out for (and how to combat them!):

• Overbuying: Almost 40% of shoppers end up spending more at particular stores because they have a coupon. Booo 👎 To avoid this, create (and stick to!) your shopping list. If your coupon takes you to a store you don't usually go to, only buy what you came for!

• Time pressure: Coupons have expiration dates, which triggers FOMO and makes you think you have to use them fast. The truth is: IT'S OK to let coupons expire! Missing a good deal is like missing a bus. There's another one coming right around the corner.

• Time value: Some people will spend 2 hours going out of their way to save a measly $6 on something. Is it worth it? 🤷‍♂️ It's important to remember the value of your time whenever you're considering a discount.

• Returns are a pain: Many consumers jump on a sale thinking "...if I don't like it, I'll just return it." But be honest with yourself -- are you actually going to return it? Missing out on a sale is better than being out of money/time for no good reason.

Related stuff:

• 📝 FinMasters: Is couponing really worth it?

• 💻 HTM Blog: Frugal vs. Cheap (value > cost)

• 🛒 Groceries: Ways to save money on groceries (couponing ain't the only way to reduce your shopping costs!)

TOGETHER WITH BILT

We’ve mentioned this on the podcast a few times… Bilt is a credit card and rewards app that gives you points for paying your rent! Then you can use those points later for travel rewards, or cash towards future rent payments!

Here’s how it works…– First, join Bilt Rewards and apply for the credit card.– Next, verify your account and bank information.– Click “Pay Rent by Check.”– The system will charge your new credit card, then they will physically mail a check out to your landlord.– It can take 5-8 days for checks to be sent in the mail so remember to pay early each month!

(Or if you currently use Venmo/Paypal or an online portal to pay your landlord, Bilt does online payments for that stuff too!!)

Bilt is the only credit card that allows you to earn rewards for paying rent!

***Important note: Only get this credit card if you pay your monthly statement in full!***

INSURANCE

Poor Credit Can *Double* Your Car Insurance Cost

Yep, you read that right! People with Poor credit scores (sub 580) on average fork out double the amount to insure their car as people with Excellent credit (800+).

This data comes from The Zebra as of Jan 2023. 👇👇👇

Why is this?Well, all major auto insurance companies (including Geico, Progressive, & StateFarm) do a credit check during their quoting process. Their research shows that peeps with low credit scores file more claims and those claims are costlier.

Is this applicable everywhere?Checking credit for auto insurance is banned in only 4 states (CA, HI, MA, & MI) which means in the remaining 46 states, it is standard practice!

What can you do about it?Besides moving to Hawaii (very tempting, actually 🤔), here are a few things to help get yourself a better rate:

• Work on improving your credit score. Even bumping from a 725 to 745 might make a difference in rates.

• Regularly shop around for insurance (as your credit score improves over time you could be eligible for new rates)

• Ask your insurance provider for any available discount programs (bundles, student discount, safe driver discounts, anti-theft lock discounts, telematics or data sharing programs)

Related resources:

• 🧾 Discounts: Common auto insurance discounts

• 💻 HTM Blog: Our full article on boosting your credit score

• 🚘 A Comparison Data Buffet: Rates by age, driving history, ins carrier, etc.

ICYMI

Hot off the presses...

Another Rate Hike 📈The FED announced an interest rate hike last week of .25%. Whilst there's no immediate "pinch" on consumers, those of you with floating interest rates or variable loans will feel more pain as rates rise. Pay down those high interest debts, people!

Tax Deductions 🏡Attention homeowners out there -- here's a great summary article from CNET explaining all the ways homeowners can save money on taxes via deductions. (And here's a quick list of qualifying energy tax credits if you're doing improvements this year!)

Sneaker Impact 👟Did you know 70% of Americans throw away their lightly used, perfectly good sneakers into the trash? 🤯 And 300 million pairs of sneakers end up in landfills each year! Here's a better way --> recycle them with Sneaker Impact. They'll ship you a bag or box to send in your old sneakers and find the best recycling use.

Used Car Study 🚘Prices continue to drop for used cars. And Tesla Model 3 leads the pack for most reduced resell price drop the past few months! Here's the full iSeeCars report.

Banking Fees 🤮A recent Bankrate survey found the average American pays $24 a month (so $288/year!) for checking account fees! If this is you, please look into switching to an online bank with no fees. (CIT's Savings Connect account has no fees, AND they're offering 4.05% 🎉)

Valentines Day Stats 🥰It looks like American's are planning to spend $25.9 Billion on V-Day this year! (About $193 per person worth of celebrating!) 😓 Just a reminder for y'all... 9/10 people think frugality is an attractive quality in a partner. There are plenty of ways to woo your boo without spending hundreds of dollars!

FRIENDS OF HTM

Money Honey Rachel 🙋‍♀️

Meet our friend Rachel Richards. She's a real estate rockstar who retired at the ripe age of 27!!! 🤯

And while she could be sipping piña coladas all day on a beach somewhere, she's actually working harder than ever... Her passion in life is to help others create passive income, build wealth, and live a life of freedom.

Check out Rachel's website, or join the other 300k+ peeps that follow her on Insta and TikTok!

Welp, that's it for now. Make it a great day! (and while you're at it, make it a great day *for someone else* too. Share the happiness! 😎)

Best friends out 🍻