Good morning, HTM Family!

Feeling a little overwhelmed this week? Me too 🙋‍♂️

Here are some quick reminders:

• You have the ability to solve any problem in front of you.

• You are smart, make good decisions, and have an open mindset.

• Your friends and coworkers have your back 100%.

• Mistakes are what help you learn and grow. Don’t be afraid to make them.

• Your 80 y/o self is proud of you for accomplishing whatever you are working towards today.

And lastly,

• If you put some beverages in the fridge right now, they will be ice cold and waiting for you by the time you get off work. Something to look forward to!

Keep grinding. Stay positive!

OK now let’s chat about money stuff! 👇👇👇

TO DO

Deal with Those Unwanted Gifts 🎁

Studies show at least 53% of you received a gift that isn’t a good fit for you…

I know it’s tempting to stick unwanted gifts in your closet to deal with later, but honestly, it just adds clutter to your life and increases your future mental burden.

So this week: Return it (if you can), re-gift it, donate it, or SELL it!

The sooner those items are out of your house, the lighter you will feel. 💪

SAVING

Tips for a No-Spend Challenge 💰

No-spend challenges have been around for years — and for good reason: They can work wonders saving you a bunch of money in a short period of time!!

They also help you “reset” your lifestyle a bit by shaking up bad habits and reminding you of the differences between needs and wants.

How does a no-spend challenge work?
They look a bit different for each person, but in general, the goal is to cut out ALL non-essential spending for a specific period of time. It’s kind of like dropping to a bare bones budget for 30 days (or longer if you can).

What can you buy or not buy?
Of course you gotta pay bills, like your rent and electricity. And you can buy things you need to live/work, like groceries and gas. But the goal is to spend ZERO on everything else. No hobbies, clothes, toys, luxury foods, eating out, haircuts, alcohol, travel etc.

It’s amazing how creative your brain gets when you challenge yourself. You’ll realize just how much you already do have to live on, and how many free activities there are out there that don’t require spending any money!

Tips for success…
A few things to help you through a no-spend challenge:

• Clarify your “why”: Having an overarching reason or theme behind the challenge will help keep you motivated. For example, saving up extra travel funds for this Summer. Or adding to your house downpayment fund.

• Team up! Get your partner on board, or your friends or family. Challenges are way more fun when everyone does them and holds each other accountable. Online support communities are always good too! #NoSpendChallenge 🔥

• Decide on 1-2 exceptions. It might be a rough adjustment, so consider choosing a small allowance for one guilty pleasure or cheat item. That can be the release valve you need to stay the course.

• Make a fun tracking chart. For each day you complete, mark a calendar or check box off to showcase your progress. There’s something about the tangible reminder that makes a difference!

• Keep a wish list! During the challenge, you’ll come across stuff you want to buy. Make a list of all these things. If you really want them when the challenge is over, make the purchase then. (Usually, you realize you don’t need it!)

• Find free fun activities: Free workout videos, community events, outdoor activities, board games, libraries and art galleries, etc. Make it a point to get out and find free new things to do in your town!

Bonus tip: Treat a no-spend challenge like a game, not a punishment. Yes, the goal is to deprive yourself to save money. But that doesn’t mean you can’t have fun along the way ;)

Related stuff:

• 🙅‍♀️ Dining: Try a No Eating Out Challenge

• 🎮 More Challenges: 14 Other Money Savings Challenges

TOGETHER WITH BETTERMENT*

Right now, new investing customers can get up to $1,000 with a qualifying deposit. Terms Apply. Get started.

SAVING

TOP Resolutions in 2025…

YouGov surveyed Americans about their New Year’s resolutions and here are the results…

Surprise, surprise; the top money goal for everyone generally is to save more money 👇👇👇

Trust me — saving more money doesn’t magically happen on its own. You need a plan.

Here are a few thoughts to help:

1. Start an actual budget: You can’t plug holes in your bucket if you don’t know where the holes are! Basic budgeting will reveal the lowest-hanging fruit and help you focus on the high-impact areas first in order to save the most money. (Psst. YNAB has a free 30-day trial!!)

2. Automate those savings: Paycheck deductions are the easiest way to save more without thinking about it. If you have a 401k, increase your contributions a tiny bit. No 401k? —> Set up recurring transfers to your savings/investment accounts every payday. Yes, paying yourself first means a tiny bit less to live on, but with a bit of creative thinking, you’ll be able to adjust your spending just fine.

3. Lock your money away 🔐: If you’re building an e-fund, put your savings into a separate HYSA account. Keep your new stash pile far from reach so there’s no temptation to dip back into those savings later.

4. Get goal-specific: Read up on SMART goals. You’ll have better chances of success if you have a detailed plan and track your progress. What exactly are you saving for? When are you beginning and what milestones are there along the way?

5. Prioritize debt payments: Folks grossly underestimate how much compound interest works against them when they remain in debt. Using a 0% APR credit card could be a good solution, temporarily relieving interest so you can pay down debt faster. Just be sure to have a debt payoff plan to go along with that new lower rate!

6. Low-ish hanging fruit: Some of the quicker ways to save more money… Meal prep and eat out less, cut subscriptions, negotiate your bills, drive less (or downsize your car footprint if you can!), ask for a raise at work, and shop around for insurance.

Making sacrifices and changing routines can feel awkward to begin with. But I promise it’ll be 100% worth it when you see that money pile grow.

Related stuff:

• 🤓 Quick Hacks: 18 Frugal Hacks to Try

• 🚍 Cheaper Travels: Ways to Save Money Traveling

• 📝 Budgeting 101: Making a budget for beginners

• 🤷‍♂️ Totally lost? Start here if you’ve never been taught anything about money.

ICYMI

In other news…

Shopping 🚘
January is a great time to buy a used car (most people are reining in spending, so demand is lower). You might be able to snag a better deal right now if you’re ready to make a car change!

Gamified 💸
For those of you just beginning to invest, watch out for those flashy, gamified investing platforms (ie Public). They seem so fun and helpful, but can unknowingly stoke bad investing habits like trading too frequently and taking on risky bets. Take it from us old folks — boring is better when it comes to investing. Stick with the best low-cost companies like Fidelity, Schwab, or Vanguard.

ID Protection 🔐
Via WalletHacks, here’s how to Build a Do It Yourself Identity Theft Protection System. Stay safe out there, y’all!

Live More 😎
From Darius Foroux, here are 3 Ways to Feel More Alive This Year. “Every day is a new opportunity to feel more alive. Don’t wait for a new year to revitalize your life; the power for change is always in the present.”

Clueless 📈
Nobody predicted how good last year would be for stocks. That just goes to show how “nobody really knows anything”.

Forward motion ⏩
Here’s a great read for those of you getting closer to retirement. Make a plan to stay active, keep moving, & enjoy creating!

#blessed 🙌
Just a touching video of a Cuban visiting Costco for the first time. A reminder of how good we have it here in the US!

ASK HTM

“Should I hire a tax pro this year?” 🤷‍♀️ 

The short answer: Since most folks take the standard deduction and have basic returns, we are big fans of DIY tax filing platforms like Cash App Taxes or FreeTaxUSA. They are cheap and easy.

Even though DIY filing can feel like a chore, it’s a great opportunity to review your overall finances and find little nuggets and insights that might help you improve next year.

But if you had a major event last year that triggers bigger tax consequences, or confuses your eligibility for certain deductions, it makes more sense to hire a tax professional!

Here’s the longer answer!

Cheers to a great week ahead, crushing the things on your to-do list and ignoring the things that are not. 💪

Best friends out 🍻