Good morning, HTM Family!

“You can’t pour from an empty cup.”

Reminder for today: Do some activities that help fill back up your cup.

• get enough sleep ✅

• exercise ✅

• relax & quiet time ✅

• read, listen to music ✅

• appreciate, count blessings ✅

• spend time outside ✅

• love on your partner 😘 ✅

Keeping your cup filled and let’s you be the best you.

OK, now let’s talk about money stuff! 👇👇👇

TO DO

Try an “Information Diet” 📵

This week: Pick one day to be completely “noise free.” Don’t check the news, don’t open social media, and go into hermit mode for the day.

It’s no secret that some (or a LOT) of the news we consume is sensationalized. Cutting that intake and removing some mental clutter will give you a healthier, more balanced mindset to focus on your mission and life. 💪

LIFESTYLE

Joel’s Backyard Chickens 🐓

The Larsgaard Family has expanded! We now have 4 egg-layers roaming the backyard.

It’s been a fun project (with a big learning curve), so we wanted to share some lessons learned so far and other general info in case any of you are interested in starting an urban farm.

3 Biggest Things I’ve Learned So Far:

• Having chickens doesn’t save money. Actually, it costs more money. Buying a shelter (not cheap) and feeding them adds up. We had to get a permit from the city too. I'm not saying it's not worth it, but just be aware there are secondary expenses — it’s not just ‘free eggs!’

• But it is a fun hobby! And the eggs are delicious. It's nice knowing where your breakfast is coming from, and there’s a noticeable taste difference in fresh eggs vs. store-bought ones. It's also been a great way to teach my kids responsibility because they like doing the chores and taking care of the chickens.

• It's slowed our rhythm of life. Our family tends to be energetic and overcommitted, so having chickens has made us slow down and smell the roses a bit. We spend more time in our backyard together because of these goofy little birds. That's been a serendipitous byproduct of this endeavor.

Newbie mistakes we made:

• Too hard, too fast. We were all so excited about getting these nifty little chickens that we spent more than we realized at Amazon and Tractor Supply for accouterments. Just like any new hobby, it’s addictive! A lot of the stuff we bought was cool, but not all of it was necessary.

• Thinking it would be easy. One of our chickens randomly hurt her leg pretty badly. We had to learn how to take care of her on the fly because there's no way we're taking a chicken to the vet - too expensive! YouTube has been a helpful resource.

Most helpful resources we’ve used:

• Friends. We have a few friends who have either had chickens in the past or currently have a little flock, including Emily's mom. We've asked them a million questions! So if you are thinking of getting chickens, tap your poultry people for info - they're typically pumped to share what they know.

• Google & Social Media! Honestly, most of our questions are easily answered by googling for help. Top websites like BackyardChickens have TONS of blog posts for beginners and forums to get info from, and there are a handful of influencers to follow for ideas. Searching #backyardchickens, #urbanchickens, and #chickensofinstagram has led us to some fun accounts.

All in all, we’re having a lot of fun! If you’ve got extra yard space at home, and don’t mind getting your hands dirty a bit, this could be a fun summer project for the family! It has been for ours. 😊

TOGETHER WITH BETTERMENT*

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INFLATION

McPrice Hikes 🍟

Today’s chart is from FinanceBuzz, showing how various fast-food chain prices have increased over the last 10 years.

While all chains studied rose faster than inflation, McDonald’s leads the pack with the highest price hikes 👇👇👇

Why is fast food inflation so high?!
It’s kind of a byproduct of rising utility & ingredient costs, as well as wage increases. Not only does the food cost more to make, it costs more to prepare and serve.

Also, as households become more budget-conscious with high inflation, many opt to dine out less at full-service restaurants and instead choose to patronize more fast food chains. So there’s a demand increase too.

Will this rapid inflation slow down soon?
In the short term, probably not. But over time, yes, things should settle as food costs and wage inflation slow. Wage inflation might be the biggest battle, as fast food chains fight over attracting and retaining low-wage workers.

What can I do to save money on fast food?
Hmmm…. Stop eating it? Lol. But seriously, try cooking cheaper (and healthier!) meals at home instead of grabbing a quick bite in the drive-thru. This might mean better meal planning and keeping some healthy snacks nearby. Your fast food habit is costing you more than you think.

Otherwise, use coupons, look for deals, accumulate rewards by downloading restaurant apps, etc. Fast food chains are being forced to re-think value deals and promotions for their price-sensitive customers. Eating less fast food is one solution. Only going when you qualify for a discount is another.

Also, don’t forget about credit card rewards and buying discount gift cards when available. CardCash sells a fair amount of discounted gift cards to many of your fast food faves, like 36% off at Raising Canes! Costco and Target tend to offer discounted gift cards too. Stock up if you eat somewhere regularly!

Related stuff:

• 🍔 CopyKat: Fast Food Replica Recipes to Make at Home

• 🫵 Challenge: Try a 30-Day No Eating Out Challenge

ICYMI

Noteworthy news…

401 what? 💸
A recent study commissioned by Beyond Finance found that 4 in 10 Americans don’t know what a 401k is. Can this be right!?!?!? (If this is you — go right now and ask your HR department if you have access to a 401k and how to sign up. It’s one of the best no-brainer savings tools most folks have access to.)

Career Advice 🙋‍♂️
Ryan Holiday shares ‘37 pieces of career advice I wish I’d known earlier.‘ A very thought-provoking read with great nuggets of wisdom.

Scams 🙅‍♂️
Facebook Marketplace can help you unearth killer deals... But just a reminder to watch out for scams. A recent study found that up to 34% of listings on FB marketplace were fraudulent, with the top fake listings being phones, shoes, clothing, game consoles, and small electronics. Whoa!

Budgets 📝
A growing trend — people are starting to use a 60/30/10 budget method instead of the 50/30/20. (Basically, saving 10% less and spending that money on bills/needs instead). If you’re doing this, be careful. You might not be saving enough to retire comfortably!

Coins 🗑️
Americans throw up to $68 million in coins right into the trash every year 😳. Stop throwing away money, people! Or if you do, throw it into my front yard, please.

HOW *YOU* MONEY

John, 29, San Diego, California 🌤️

Occupation: Military
Salary: $94,368 before taxes

Paycheck deductions: Taxes $763.48, TSP/401k $1,952.10
Housing: I am currently renting a room for $1,000 per month but just bought a Sprinter van in hopes of living in it full-time. Van life sounds like a lot more fun.
Other Debts: No debt
Living expenses: ~$3,265

Leftover savings each month: ~$2,106.

How are you investing your excess savings each month?
I contribute $1,000 per month into an open investment account. Each year I get a $9,375 bonus until I re-enlist again. With that bonus, I max out my Roth IRA.

I was saving up for a house/property. But since buying this van, my savings have taken a bit of a hit. Once I move into the van, I will save an extra $1,000 per month, which will go to my civilian open investment account. The remaining savings will go into high-yield savings for a future down payment on a house/property.

Biggest “craft beer equivalent” splurge:
I have way too many hobbies. My thought on finances is this: if I can save/plan for the future but live the way I want, I do not see much harm. It's called living for a reason.

Best savings hack/advice:
It is not a secret. To have an accurate budget without any fluff is a massive eye-opener. I do not mean this to be a penny pincher but to know what comes in and what goes out. This will allow freedom in moving money elsewhere or seeing what you must correct within your current budget.

Biggest money challenge right now?
My biggest challenge is having a firm budget for my camper van build. There is always another excellent add-on or something that I find when searching the internet.

Recent money win and how did you celebrate?
I receive a bonus each year that goes directly towards my Roth IRA. This makes budgeting more accessible and one less thing to worry about throughout the year.

Anything else you want to share?
Thank you, guys, for having this platform! This is a massive resource that I am so glad I came across.

As you mentioned, money should not be something we hoard or put on a pedestal. Money is a tool. It should be used as such. The better we can understand how to use money, the better we can create the life we want.

**Editor’s note: This How You Money segment is one of our favorites in the newsletter because it reveals how different folks handle different financial circumstances. The more we all share, the more we all learn. Help us keep these profiles going by filling out the HYM form and sharing your story! (Don’t worry, we won't publish anything without you approving it first)**

Cheers to a great day ahead! And as for tomorrow…

Best friends out! 🍻