Happy Tuesday, everyone! 🥳

Today is National “No Diet Day,” so I’m encouraging everyone to enjoy a little something sweet. 🍩🍪🍰

Reflecting on this quirky holiday, I realized the reason why many diets end up failing is the same reason many people have trouble sticking to their budgets…

When we overly restrict ourselves or try to make massive overhauls to our lifestyle in short order, we are more likely to struggle to adapt!

Completely giving up our favorite snacks all at once, or attempting a no-spend month right out of the gate, can mean setting yourself up for failure.

So if you’re trying to get your money game together (or to start eating healthier), remember that slow and steady wins the race. Small, consistent changes over time will add up to major progress towards your goals!

Alright, on to the money stuff! 🤑🤑🤑

TO DO

Go to the Shoemaker 👞

If you’re anything like me, you probably have a few well-loved shoes with holes or scratches that prevent you from taking them out on the town.

But, before you spring for a new pair of boots, consider taking your old ones to a local shoe repair specialist (yes, these still exist!).

While a new pair of quality shoes can often cost $50+, you can get minor repairs made to the shoes you already own and love for cheap. $18 to get your favorite pair of shoes back on the street? Sign me up!

LIFESTYLE

Washing Money Down The Drain 🛁

Watch out eggs, there’s a new inflation headache in town! 🤪

According to a report from Bank of America, the median monthly water utility bill rose 7.1% year over year in March, putting an even greater strain on households across the country.

With water companies being held to new standards to regulate harmful chemicals in our water supply, infrastructure updates needed, and uncertainty over tariffs on chemicals necessary for water treatment, it’s unlikely that this inflation will slow in the near future. As costs increase, so will your water bill.

However, while inflation may be out of your control, you do have control over your consumption. As the cost of water increases, try using these tips to level out your home’s water bill…

🚽 Install Low-Flow Toilets – While replacing your toilet costs some money up front, the savings will quickly cover the cost of the new toilet. Toilets account for around 30% of our indoor water use, and by switching out your old one for a low-flow WaterSense model, you can expect to save around $140 per year. Oh, and don’t forget that many utility companies offer rebates that will help cover much of the price, too.

🚿 Take Shorter Showers – While no one wants to take a shorter shower, this frugal tip saves you money on two fronts. Not only can you save around 7.5 gallons of water per shower by shaving off just three minutes, but you’ll also save on your gas or electric bill by using less hot water too. Double win!

💧 Fix Leaks ASAP – Just one tiny drop of water every 10 seconds can waste up to 140 gallons of water every year! Plus, you don’t want to ignore a plumbing problem, as it could lead to major damage down the line. Go the DIY route by watching a YouTube video on how to fix that leaky faucet and bust out your tools. You got this!

🪣 Reuse and Recycle Water - Instead of letting your water slip right down the drain while rinsing dishes or draining pasta, consider placing a bucket in your sink to catch some of it. You can easily give that water a second life by using it to water plants!

🧺 Do Laundry the Frugal Way — There are tons of tips to help you save money doing laundry, but some of my faves are to always run a full load, use a shorter wash cycle, and to wash your clothes less frequently. Washing in cold water saves energy, too. These additional frugal laundry tips will help ensure your clothes last longer.

🪴 Choose a Native Yard – If you live in a desert climate, be prepared to spend a ton of money if you want to maintain a lush and grassy yard. Instead, consider choosing a native yard with plants that thrive in low-water environments. The more you obsess over your lawn the more expensive your water bill will be!

And remember, if you have kids or live with roommates, sit everyone down to have a chat about water consumption. When you multiply these small changes across an entire household, you’ll see a major difference in your monthly water bill.

Read the full post- 17 Ways to Save Money on Your Water Bill

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SAVINGS

The Power of $2,000 💰

If you’ve listened to HTM at all, you’ve heard us talk about the absolute game-changer that is saving up a basic emergency fund. Well, new research published by Vanguard further highlights the serious benefits of having cash in the bank.

According to Vanguard, having an emergency fund of just $2,000 saved up is the single biggest predictor of financial well-being. In fact, the research found that just having a $2,000 nest egg has a similar impact as having $100,000 in overall assets! 🤯 There’s a reason why we made e-funds money gear #1, folks.

The benefits of having $2,000 in emergency savings are far-reaching. While it obviously protects you from needing to take on debt when an unexpected expense rears its ugly head, folks who save up a basic e-fund enjoy significantly less financial stress, less time spent managing their finances, and even become more productive workers!

But, saving up this amount of money is a tall order considering 36% of households report they could not currently cover a $400 emergency expense. For folks living paycheck to paycheck, saving up an emergency fund may feel miles away.

But, while not easy, we believe that saving up an emergency fund on a tight budget is possible. It will require some sacrifices, but the benefits and peace of mind you’ll enjoy are 100% worth it. Here’s how we’d recommend reaching this financial goal!

1. Work to Lower Your Monthly Expenses - If you don’t have money to save at the end of each month, you’ll need to find a way to lower your monthly expenses. Negotiating your bills, cancelling underused subscriptions, and working to slash your grocery bill are all great ways to see immediate savings.

2. Create a Budget - Now that you have some wiggle room, it’s time to create a budget! Once you plug in all your expenses, you’ll see how much money you’ll have left over to save each month. We always recommend the 50/30/20 budget for beginners.

3. Set up Automatic Transfers - Don’t make saving for this goal optional. Put it on autopilot by setting up automatic transfers to a High-Yield Savings Account. Paying yourself first is a crucial part of building up your savings.

4. Celebrate Reaching Your Goal - Once you save up that basic emergency fund, make sure to celebrate your accomplishment by treating yourself on the cheap!

While you probably don’t want to stop once you’ve amassed $2k, just hitting that milestone is a big deal that’s worth celebrating. And remember, when an emergency expense pops up, it’s okay to spend the money in that account. That’s what it’s there for! Just work to replenish it quickly afterwards.

ICYMI

Here’s the scoop…

Goodbye Office Space 👨‍💼
While the office space market seemed to be picking up at the beginning of this year, many companies are slowing or even halting their search altogether due to economic uncertainty and looming recession fears.

Moving on Out 🏠
The number of young adults ages 25-34 living at home with a parent has decreased over the past few years. But even though fewer folks are opting to stay at home, it can still be a great way to save some serious money for a short spell after graduating from school. Even just a few months can help you jump-start your savings!

Childcare Costs by State 👶
While the average monthly cost of childcare sits at $1,039 in the U.S., the cost can vary widely from state to state. For example, the average cost in Mississippi is less than 1/3 of the monthly cost in Washington D.C. If you live in one of these high-cost states, be sure to check out this post - 11 Ways to Save Money on Childcare Costs.

Scam Alert 🚨
While tax day has come and gone, tax scams are still popping up. A new surge of scam phone calls has been reported, which falsely claim that a new federal program has been instituted to eliminate tax debt. There is no such program, and the IRS will never contact you via phone call.

Airline Recession ✈️
The CEO of Southwest declared last week that the airfare industry is in a recession, as flight prices fell by 5.3% year over year. According to the Bureau of Labor Statistics, flights cost about the same as they did 15 years ago! The silver lining? Budget travelers have a better shot at snagging a sweet deal on flights for their next trip.

COMMUNITY

Free screen protector replacements 🤑📲

@relatable_laura

Tips on saving money. If it’s free it’s for me! #tips #iphone #momlife #relatable #shopping #money #real @Cyndi - Themhoffers @Best Buy

Here’s a sweet money-saving tip we came across on TikTok this week from the creator @relatable_laura!

Screen protectors are an excellent way to make sure you don’t damage your expensive tech gear. But they can be a total pain to replace once they break.

Luckily, this creator shared that if you purchased a screen protector from Best Buy with a lifetime warranty, they will replace it for free if it cracks!

So, if you brought your screen protector from Best Buy and it’s looking a little worse for wear, give them a call before ordering a new one. You may be able to get a free replacement.

The same goes for any of your belongings with a “lifetime guarantee.” Don’t just shell out money when these items break- hold these companies to their promise!

Alright friends, that’s all of the money stuff we have for you today. Remember not to lose sight of your biggest goals throughout the week when things get crazy, and try to enjoy the journey too!

Best friends out 🍻