Good Morning & Happy Tuesday! 

They say the key to slowing down your perception of time is new experiences. Utilizing your free will to the max can help you to shake the “time is whipping by me at the speed of light” feeling. 

Here’s our challenge for you this week: Try to incorporate as many new experiences as possible. You don’t need to take off work and go backpacking across Europe for a month to have meaningful new experiences. Small steps outside of your daily routine will do the trick. Here are a few ideas…

• Go to your local bookstore and flip to a random page in a cookbook. Make whatever recipe you land on for dinner. 🍲

• Try a new style of workout you’ve never done before, like kickboxing, pilates, or Zumba. (YouTube has TONS of free workouts in many different styles.) 💃

• Go to your local coffee shop and ask the barista to surprise you. ☕️

• Write a handwritten letter to a friend. 💌

• Play music from a genre you never listen to. 🤘

• Sign up for a random class at your local library to learn a new skill - even if it’s something you’ve never cared to learn in the past! ⌨️

Let us know in the HTM Facebook Group what novelties you introduced into your life this week.

Okay, on to the money stuff! 🤑

TO DO

Slay Your Vampires 🧛

Halloween may still be a few weeks away, but that doesn’t mean you have to wait until then to have some ghoulish fun. Grab some garlic and a wooden stake, because today you’re going to be slaying some vampires! 

Vampire electronics are devices that continue to draw power from your outlets, even when they aren’t in use. These include things like gaming consoles, phone and laptop chargers, TVs, coffee makers, and printers.

Our challenge to you: Get in the habit of unplugging devices, even when they’re powered off. You’ll save energy and shave precious dollars off your electric bill. 

Related-13 Ways to Save Money on Electricity

CREDIT

Dealing With Rejection 💔

I think it’s safe to say that experiencing rejection is one of those universally hated experiences. Whether you didn’t get the new job you applied for, or got told no when asking for a discount, getting rejected can stir up some uncomfortable feelings.

Getting rejected from a credit card application can feel equally stressful. Maybe you were looking forward to enjoying some new travel perks, or were banking on getting approved for a balance transfer card so that you can finally pay off your credit card debt. Whatever the case, now you’re left with a hard inquiry on your credit report and no new card to show for it. Ouch.

But here at How To Money, we’re always looking for the silver linings. Here’s the good news. You can turn this rejection into a major learning opportunity, all while improving your credit score for the future. Here’s what we recommend you do after getting rejected on a credit card application.

1. Ask for an explanation - Luckily, credit card companies are required to provide a reason for your denial when you ask within 60 days of applying. Understanding why you were rejected can illuminate ways to improve your credit and make you more likely to get approved in the future. For example, if you’ve been rejected because your utilization rate is too high, you can pay off your cards more often or work to eliminate existing credit card debt. 

2. Consider calling the company - If you have a longstanding relationship with this credit card provider, consider calling and asking for reconsideration over the phone. If you bank with them or have responsibly used their other products, they may be more likely to reconsider. 

3. Look for cards with pre-qualification - If you’re looking to apply for a credit card, but aren’t sure if you’ll be approved, consider applying for cards with pre-qualification. These cards can tell you whether or not you’re likely to be approved for the card before they perform a hard check on your credit. 

4. Remember the Chase 5/24 rule - If you’ve been rejected for a Chase-branded credit card, your application may have been denied because you’ve opened too many credit cards within a short period of time. Although it is not an “official” rule, Chase is unlikely to approve any application for someone who has opened 5 or more personal credit cards with any issuer in the last 24 months. 

5. Check your credit report for errors - Rejections can stem from inaccurate information on your credit report. Every consumer is entitled to a free credit report from each of the three bureaus each year, so make sure to check for any errors or outdated information. Snag it at AnnualCreditReport.com.

6. Work to build your credit score- And lastly, it’s possible that you were rejected because your credit score is just too low. This is something that can only be healed with time and effort. If you’re looking to increase your credit score, use these 10 tips to improve it over time! 

Rejection can be disappointing. But these rejections can be a symptom of a greater problem that needs resolving. Take it as an opportunity to learn something new, and you’ll be setting yourself up for many future approvals to come. 

TOGETHER WITH US MOBILE*

30 Days, Risk Free 🤑📲

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With no contracts, there’s nothing to lose by giving them a try! With the cheapest unlimited plans available, starting at just $17.50 per month, a switch to US Mobile is well worth considering.

If you own your phone and want to slash your phone bill, check out US Mobile. 💪

ICYMI

Your Weekly Update…

Drone-Delivered Dinners 🍔
Uber Eats announced that they will once again be testing drone deliveries in partnership with Flytrex. While they’ve stated that these methods of delivery will not cost consumers more than human delivered meals, the cheapest way to eat will still be to cook at home!

Long Term Unemployment on the Rise 📈
In August, the number of Americans who have been unemployed for over six months hit 1.9M, rising to a post-pandemic high. However, this trend has been disproportionally affecting recent college grads.

Social Security Strategies 💰
When you should take your social security benefits depends on your personal circumstances. However, in some cases delaying the social security benefits for the higher earning spouse could be beneficial. Jesse Cramer takes a deep dive on this strategy on blog, Best Interest.

A fun reminder to all of you out there. You are the youngest you’ll ever be right now. Jump, laugh, run, and enjoy your day, however mundane it may be. You’re living in the “good old days” right now!

Best friends out 🍻