- How To Money
- Posts
- Spring Cleaning Hack, Micro-Travel and the Tooth Fairy Index 🦷
Spring Cleaning Hack, Micro-Travel and the Tooth Fairy Index 🦷
Good morning, Money Folks! Just a reminder that if you want to be rich, you need to start acting rich...
Good morning, Money Folks!
Just a reminder that if you want to be rich, you need to start acting rich. 🤑
Dress for the job you want, not the job you have. That means always stocking your closet full of the latest designer clothes, no matter the cost.
Cars are a great way to show off, so always buy them new. Even if it means taking out a huge car loan with a colossal monthly payment.
And you’ll need some more space to store all the cool stuff you’re going to buy, so make sure to buy a big ol mansion with a bowling alley in the basement.
April Fools! 🤪 Real ones know that stealth wealth is the way to go.
OK, let’s talk money! 💰💰💰
TO DO
Make your own cleaning supplies 🧼
The days are getting longer, the temperature is slowly climbing, and I can’t survive a single day without taking a Claritin. You know what that means… 🌸🌷🌼
Spring cleaning is a great way to freshen up your life, but those cleaning supplies can really add up at the grocery store.
Instead of stocking your cart with new cleaners and sprays, see if you have the ingredients to make this simple and cheap multipurpose cleaning spray! Once you make the switch, you’ll never go back to store-bought.
TRAVEL
Micro-traveling ✈️🏝️☀️
Have you ever heard of micro-traveling?
Instead of taking a full week’s vacation, many folks are opting to take shorter, more frequent trips to save money and maximize their time off of work.
Micro travel can allow you to pare back your travel budget by reducing or removing the cost of accommodations altogether, with some folks even flying to and from new cities on the same day!
While the cheapest and most “doable” destinations will vary based on where you live, here are a few ideas for some quick micro-trips to spark your creativity…
NYC ✈️ Chicago: Flights between New York and Chicago take around 2 hours, making this a doable day trip to either famous (and fun) city!
LA 🛥️ Catalina Island: If you live near LA, consider taking an $88 round-trip ferry boat to Catalina Island for some good eats, beach views, and cobblestone streets.
Road trip magic 🚐: If you live within a few hours of any of the National Parks, why not go and check out all the natural beauty the country has to offer? Plus, our National Parks offer a handful of free entry days every year, potentially cutting your trip costs down to just gas money and food.
Europe for the Weekend ✈️: If you live on the East Coast, a weekend trip to Europe is entirely doable. You’ll only need to book 1-2 nights of accommodations, and you should be able to snag some cheap flights on a budget airline if your dates are flexible enough. For example, this creator went from Boston to Ireland for a 3-day weekend trip!
While this kind of travel may not be a perfect fit for everyone, it serves as a great reminder that there’s no “right” way to see the world. If you don’t have the money (or time) for an extended trip right now, this could be a good option to explore your wanderlust on a tighter budget.
BUT, if you’ve got more time on your hands and still have a penchant for frugality, check out this HTM podcast episode with Nomadic Matt. He sings the money-saving praises of slow travel! Longer chunks of time off can reduce the daily costs you incur.
And remember, utilizing a good credit card rewards strategy can help you to minimize the costs of travel even further! 💳
TOGETHER WITH BETTERMENT*
Make your money hustle
TAX TIP: You have until April 15th to contribute to and max out an IRA for 2024. And you might even be able to deduct those contributions on your 2024 tax return. Get started
ECONOMY
Tooth fairy payouts 🦷
According to a new survey by Delta Dental, the tooth fairy is rocking on a budget for 2025. The average cash gift left by the tooth fairy has dropped 14% from 2024-2025!
The “Tooth Fairy Index 🧚” has been tracking tooth fairy payouts since 1998, when the average tooth loss would earn you $1.30! Since then, it’s increased by 285% to an average of $5.01 per tooth. Talk about inflation!
Interestingly, for most years the tooth fairy index has closely followed the general direction of the economy, as shown below.
However, this chart got us wondering… What if the tooth fairy put your child’s monetary gifts into an investment account and bought them some highly diversified index funds instead of giving them cash? 🤔
While this can be hard to calculate, as kids lose their teeth at different times, let’s assume your kids lose all 20 baby teeth by age 12, and earn a $10 payout for their first tooth, and a $5 payout for all others.
If you took that $105 and invested it from years 12 to 22, it would be worth about $226. That’s not life-changing, but it could be a fun way to teach your kids about money!
Then again, getting money from the tooth fairy can be fun. Life shouldn’t be all about long-term thinking, especially when you’re in elementary school. Plus, putting money into their hands can help facilitate important money lessons in the here and now.
And as a parent, don’t feel the pressure to leave $5 for every tooth your child loses. Especially if you have multiple kids, that adds up quickly!
Related Posts:
ICYMI
So, what else is new?
Pulling Double Duty 🫡
The number of workers with multiple jobs surged in February to 5.4% of all employed workers, with college graduates making up about half of the multi-job workforce. While earning more is certainly one way to make ends meet, we would also encourage you to work on slashing your monthly expenses.
The New Mall Rats 🛍️
Gen Z is making malls cool again! In fact, 58% of shoppers aged 18-34 report going to the mall frequently. These young shoppers report that shopping in person helps encourage mindful spending and that they enjoy the “tactile” in-store experience.
Retirement 💰
Is the 4% rule really safe during a down market? While the 4% rule was designed to withstand large market swings, Jesse from Best Interest suggests some dynamic withdrawal strategies to gain more peace of mind in retirement.
Beauty vs. Practicality
Morgan Housel reminds us here that often the advice we need isn’t what sounds the most intricate or impressive. Sometimes what we need is a practical, or even boring, approach when it comes to our finances.
F.I.R.E. Regrets
A Canadian poll of 3,000 retirees found that more than 25% regretted retiring. Before going whole hog on early retirement, it’s a good idea to consider whether or not FIRE is a smart goal for you personally.
COMMUNITY
Rock Your “Recession Roots” 🤘💇♀️
@reb_ellion 🥹🥹 #hair #blonde #hairtok #usa #recession #nobuy
TikTok fashion gurus are bringing to light the ways in which our economy can impact trending styles, and one of the funnier trends has been nicknamed “recession roots.”
The recession roots trend started back in 2008, when tons of folks who dyed their hair blonde regularly could no longer afford to keep up with it as often. The outcome? A big chunk of brown roots making way to bleached mids and ends. And with recession fears rising, we’re seeing the return of these money-saving trends!
As we discussed in last week’s newsletter, no one can predict when the next recession will be, or its severity and duration. Even when some of the wackier recession indicators seem to follow us around, it doesn’t necessarily mean that we are going to find ourselves in a full-blown recession.
But recession or not, stretching the time between hair appointments is a great way to save even more money every year. In fact, switching to a low-maintenance cut and color is one of our favorite frugal beauty hacks! 💁♀️
So rock those recession roots and save that money. We won’t judge. 😉
I’ve thoroughly enjoyed our morning chat. Remember to take some time to find joy in the little things today — doing so will make every day just a bit better!
Best friends out 🍻