Good morning, HTM Family!

Here are a few basic self-care activities to try today…

1. Smile at yourself in the mirror this morning. Wish yourself a great day. 😬

2. Remind yourself of your top 3 superpowers. (mine are positivity, patience and being really tall 🤣)

3. If you screw up today, look for the humor. Everybody makes miskates (← see!), that’s OK! 🤦‍♀️

4. Celebrate something small & regular today. Appreciation = happiness. 🌻

It’s a great day to have a great day!

OK, onto the money stuff! 👇👇👇

TO DO

Join the AARP 💸

I know, I know… you think AARP is just for old people... But actually anyone 18+ can join for just $15 a year!

There are significant discounts for AARP members — travel, dining, insurance - even your morning coffee. It only takes one good deal for the membership to pay for itself.

Check to see if any of these benefits look good. If so, sign up, save some cash, and start enjoying VIP perks before you even need reading glasses. 😎

SAVING

“Buy Once, Cry Once” Rules 🤓

The idea behind “buy once, cry once” is basically paying more for high-quality items upfront, in order to avoid spending more (and having more headaches) in the long run.

But, not everything you buy needs to be top-tier.

Some things are overpriced, trendy, or just unnecessary.

So how do you know when to spend big and when to save?

Here are some simple rules of thumb to help make the right call… 

1. The "Daily Use" Rule: If you use something every single day, it’s usually worth investing in quality. Think about mattresses, shoes, or a good coffee maker. A cheap version will wear out faster (or make you miserable), and you’ll end up replacing it more often.

2. The "Will This Last 5+ Years?" Test: Before buying, ask yourself, “Will this still be functional and useful in 5 years?” If yes, lean toward quality. This applies to things like luggage, tools, and winter coats. If not (think: trendy gadgets, fast fashion), cheaper might be the way to go.

3. The "Break Even" Rule: For anything expensive, calculate how long it will take to pay for itself compared to a cheaper option. Example: A $1,200 espresso machine vs. a $5 daily coffee shop habit (pays itself off in under a year). If it’s a reasonable timeframe for you, it's probably a solid investment.

4. The "Resale Value" Test: Some high-quality things hold their value (like a Toyota!). You can typically gauge the quality and durability of something by looking at the resale market.

5. The "DIY First" Rule: Before splurging on something, see if you can get by with a DIY or budget-friendly alternative first. Like Joel’s Costco sauna experiment — if he ends up loving it and using it regularly for a meaningful length of time, it’ll eventually be worth upgrading!

6. The "Repair or Replace" Test: If the cheaper version breaks, will you be stuck buying another one? Quality items can often be repaired to extend the life. Also, consider the maintenance costs and factor that into your buying math!

7. The "Can I Rent or Borrow?" Rule: For things you rarely use (a pressure washer, designer handbag, or a fancy camera for one trip), renting or borrowing saves money and storage space. Also, for new hobbies — don’t dive right in and buy your own fancy equipment. Rent first. Learn what you like before buying.

8. The "If It’s Just for Status, Skip It" Rule: If the only reason you’re considering the expensive version is to impress people, you’re probably making a mistake. Spend money according to your values, not other people’s reactions.

Read the full post: Buy Once, Cry Once: When to Invest in Quality (and When to Save Your Money)

TOGETHER WITH BETTERMENT*

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ECONOMY

Here We Go Again 🙄

Another day, another round of “Recession is Coming!” charts and headlines...

Feels like we’ve been here before, huh? That’s because we have — many times.

Here’s a chart Axios shared last week, showing how recession fears have risen sharply in Feb/March 👇👇👇

Funny story actually — about 18 months ago Bloomberg said its recession indicator hit 100%… and yet a recession still didn’t materialize.

The truth is, nobody knows when the next recession will hit, how long it will last, or how severe it will be. Heck, even if the broader economy stays strong, you could experience your own personal recession via an unexpected layoff or a nagging health concern. Certainty is hard to come by in this life.

Recession or not, the key is to be prepared no matter what.

If a recession happens, you’ll be ok. If it doesn’t happen, you’ll be ok!

By building a solid money foundation (fully stocked e-fund, manageable debt, living below your means) it will ensure there’s nothing to stress about. Turbulent economic times might be on the near-term horizon. But either way, it’s wise to be prepared.

Related posts:

• 💻 Don’t Sell: Calm Down, by Tony Isola

• 🙅‍♂️ Crying Wolf: Predicting a Financial Crisis, via Ben Carlson

• 💪 HTM Blog: 12 Ways to Recession-Proof Your Finances

ICYMI

In other news…

Southwest 🧳 
After 50 years of offering free checked baggage, Southwest Airlines announced they will start charging for checked bags, effective on flights booked after May 28th. 😭 (Business tickets, A-List Preferred members, and anyone with one of these SW credit cards can still have a free checked bag)

Electric 🚘
Bye bye, gas cars. This chart shows global sales of combustion engine cars — we’re well past the peak (2018) and are now falling. Crazy to think our kids/grandkids might never drive a gas car!

History 📈
Via Morningstar: What We’ve Learned From 150 Years of Stock Market Crashes. “Though they varied in length and severity, the market always recovered and went on to new highs.“

Success 😊 
A simple formula for a pretty nice life is: Independence + Purpose, via Morgan Housel. “Financial independence is a wonderful goal. But achieving it doesn’t necessarily mean you stop working – just that you choose the work you do, when you do it, for how long, and whom you do it with.”

Lower Prop Taxes 🥳
If you own a property in CA, FL, GA, IL, NY, TX, or WA states, you may want to check out a company called Ownwell — They help people negotiate lower property taxes! We’ve used them personally and just published this review of the service. It’s a super easy process with a high success rate!

👆 Pic of Joel and his wife Emily at the 2025 iHeartRadio Podcast Awards in Austin last week.

HTM didn’t win an award, but just getting nominated was amazing. And it’s only possible because of all you awesome HTM listeners! Thank you! 🙏

Wishing y’all a great rest of the week! And remember to show yourself some love today!! YOU are the most important relationship that you have. 😉

Best friends out 🍻