Good morning, HTM family!

Did you know… Cows “moo” with different accents? 🐄

It’s true. Cows on the east coast “moo” in a different tone than cows on the west coast, or in the south.

Actually, each small herd has a different accent. Scientists say cows have “identifiable dialectal variations which are most affected by the immediate peer group“

Hmmmmm… 🤔

I wonder if the cows know that their “immediate peer group” is changing the way they talk and sound?

Hang on a second!!… I wonder if MY friends and peers are changing the way I talk, sound, and think!? (they definitely are)

*****

Just something to think about this week… Over time, you slowly become like the people you hang out with most. Better make sure they are top-notch folks. Your future self depends on it. 🧐

TO DO

Update Your W4 Tax Withholding

If you got a surprise tax bill this year (or a massive refund check), it might be time to adjust how much tax is being withheld from your paychecks. Or, maybe your life has changed recently (like new dependents or exemptions) and you need to update your tax withholding accordingly.

It’s pretty simple — fill out a new W4 Form (takes like 10 mins) and then hand it to your employer. The more accurate your taxes are throughout the year, the less chance of having a surprise next April!

LIFESTYLE

Slow is the new Fast 🦥

Ever heard of the “Slow Movement”? It’s a cultural movement all about slowing down the pace of human life.

As humans, we can get so caught up in the hustle and bustle of life that we begin to believe that speed is the best option for everything… But in reality, faster ≠ better. Taking things slowly can come with a plethora of benefits…

Here are a few examples:

🍳 Slow cooking can make meals taste better.

🔧 Slow projects with kids and not skipping steps help build core memories.

🚙 Slow travel gives you an appreciation for beauty that might go unnoticed.

🛍️ Slow shopping allows for more research, better quality products, and deals.

📈 Slow investing means being patient and thinking long-term. It’s letting compound interest do the heavy lifting.

🏃‍♂️ Slow fitness builds more sustainable habits.

👂 Slow conversations mean listening more and everyone getting time to share without interruptions.

😘 Slow intimacy. (You can use your imagination for this point 😉)

Of course, slowing down your life shouldn’t be taken too literally or to the extreme. It’s not about doing everything at a snail’s pace. It’s about doing everything at the right pace. Slow things down a bit and see what happens!

Related stuff:

• 📚 Book Rec: In Praise of Slow, by Carl Honore

• 🎧 Podcast Ep #138: Get Rich Slowly w JD Roth

TOGETHER WITH DAFFY*

Start Maximizing Your Charitable Deductions!

Daffy has a simple mission: To help people be more generous, more often, and is the lowest-cost donor-advised fund provider around.

Whether you’re donating $200 or $2 million, they make it possible to give easily and in tax smart way via their simple mobile app or web platform.

Donor-advised funds are awesome because they’re:

1. Convenient 📲: All giving records & donation receipts are organized in a single place.

2. Tax efficient 💰: With a DAF like Daffy, you can grow your donations tax-free, and also donate assets like appreciated stock, mutual funds, index funds, and crypto to avoid capital gains.

3. On auto-pilot! 🔁 : Daffy manages automatic contributions so that we hit our annual goal for giving, and you can set up recurring donations to any legal charity in the U.S.!

If you want to give more regularly and reap the tax benefits of giving back, check out Daffy. They’ll even throw in a $25 bonus to get you started 😉

SAVING

Frost yourself 💍

Today’s chart comes from a Sherwood News article about making diamonds vs. mining them. Apparently, lab-grown diamonds can now be made in less than 3 hours! (as opposed to ~2 billion years for natural diamonds)

As for pricing, here’s how both types have changed over the last 8 years 👇👇👇

Yay for technology! Lab diamonds are shaking up the industry and making things boatloads cheaper.

And yay for changing social norms too! More and more couples are ditching the idea that “traditional” expensive diamond rings are a must-have for getting engaged. Actually, studies show ~40% of engagement ring recipients would prefer not to have a natural diamond as their center stone.

Ps. If any of y’all are ring shopping currently, check out this recent post in our FB Group — most people are huge fans of Moissanite, buying secondhand, and only spending what you (and your partner) are comfortable with!

Related stuff:

• 🧑‍💻 HTM Blog: Save Money Buying an Engagement Ring

• 🚽 Guinness World Record: Back in 2019, a jeweler set the record for “Most diamonds set on a toilet seat: 40,815!” WHYYYYYY 🤦‍♂️

ICYMI

In other news…

Vanguard 💸
Starting in July, Vanguard will start charging transaction fees for calling and placing trades over the phone. *Online trades/transactions via Vanguard’s website are still free* — they’re just trying to more efficiently manage their call centers and best utilize customer service time.

Clinics 🏥
Walmart will be closing all in-house healthcare clinics and ending virtual healthcare services. (pharmacies and optical centers are not affected!)

Mortgages 📈
The WSJ wrote about what goes into your mortgage rate. Probably the most interesting part is the graph showing that credit unions are typically the cheapest places to get mortgages (vs. banks & mortgage companies)

Job Scams 🚫 
All you college students, keep an eye out. The FTC issued a warning about scammers targeting students who are looking for online jobs. Always do your due diligence and never send any potential employer money!!

Fuel Calc 🚘
Here’s a handy little calculator to help compare fuel cost differences between 2 vehicles with different MPG. (Cheers to Badger Mason for sharing this tip!)

ASK HTM

“Should I Invest, or Pay Off Debt?” 🤷‍♀️

A reoccurring question that pops up regularly on the show: When you have extra cash, what should you prioritize — paying off debt or investing?

First, we always recommend folks cover the basics. Emergency funds, 401k match, and paying off high-interest debt (like credit cards). Here’s a flowchart…

After that, looking at your interest rate can help you determine the next best step. If your debt qualifies as bad debt (high interest, stressful, variable rates), pay it down as quickly as possible! If you’ve got low-interest debt with a fixed rate (a 3% mortgage for instance!), investing is likely the best option.

In the long run, both investing and paying off debt are important. Either choice will help you make financial progress. But the order of attack will influence your outcome.

That’s the short answer. Here’s the long one.

Ps. Got a money question? Send us a voicemail, or just hit reply to this email! We’d love to hear from you.

Cheers for reading! Have an awesome week, and remember to hang around people you want to be more like! Moooo 🐄

Best friends out! 🍻