Shopping for a bike, Reasons to budget, & Staying seated on a rollercoaster 🎢

May 17, 2022

Hola! feliz martes de tacos! (practicing some Spanish for Taco Tuesday tonight! 🌮)

Welcome to the HTM newsletter — where we try to distract you from the crashing stock market, ridiculous inflation and unstable economy… and instead point your attention towards silver linings, positive stories and old school money advice that helps you become richer and happier. 😉

On that note, here’s a cool quote that’s been on my mind a lot recently…

“The only people that get hurt on a rollercoaster, are the ones that jump off. Stay in your seat!” – Paul Harvey

If I’m being honest, big fluctuations in the stock market make me nervous (even though I know it’s 100% out of my control). And sometimes I think about ditching my investment strategy, selling everything and running for the hills!

But, then I slap myself and remember that I’m in it for the long haul. Staying seated is how we survive volatility.

Not sure if you’ve had similar thoughts recently… Just wanted to say that you are not alone! Hang in there. Tough times don’t last. Tough people do.

How are you feeling right now about your investments?


If you must drive, drive smart! 🤓

Check out these new ridiculous car stats…

  • The average car payment in the US has now reached $650 per month. Ouch! 😳
  • The average loan term is 70 months! Just a little under 6 years. 😱
  • Average new car cost is $45k, and used car cost is $30k for those financing vehicles. 😓

Good news: Cars don’t have to cost this much. Here’s a few tips to lessen auto expenses:

👉 Buy USED cars. The newer the vehicle, the quicker it depreciates.

👉 Pay cash, if you can. Here are the top 10 cars under $10k, per KBB. Pretty decent rides, actually!

👉 If you already have auto debt, prioritize paying that loan down asap. Having a loan on a depreciating asset is like running up an escalator that is traveling downwards. The quicker you pay it off, the sooner you can put those payments into a productive investment 😉

OK, ok… moving on…


Everyone’s least favorite topic (well, for 73% of you…)

A recent study from OppLoans revealed that the majority of Americans (73%) don’t stick to a regularly followed budget.

Kind of sad to hear, because budgeting can help your money situation in so many ways!! (even if you feel you’ve got finances under control already)

Here are some under-appreciated benefits of budgeting:

  • For those with irregular income, budgeting helps smooth your ride month to month, making sure you have enough saved for low income months. 💸
  • For couples with joint finances, regular budgeting helps you discuss money more and avoid arguments about spending. 💔
  • Budgeting helps you spend more money (yes, you read that right: SPEND more money) on the things that provide you more value in life. 🥳
  • Knowing exactly where your money goes is comforting, leading to less stress and more happiness. 🙌

So, if you’re part of the 73% that don’t currently have or stick to a budget, we urge you to reconsider finding a budgeting system that works for you.

More budgeting resources:


Money news buzzing this week…

Career 👩‍💻
Congrats to the ~4.5 million people that quit their jobs last month! It looks like there’s plenty of opportunities in this current labor market — about 2 open job positions for every unemployed person out there.

Crypto 💸
Turns out some “stablecoins” aren’t very stable at all. (A good reminder to stash savings you can’t afford to lose –> in FDIC insured bank accounts).

Housing 🏡
Recent buyers who waived home inspections in order to win bidding wars, might now be regretting it. If you are buying a home, please please please do thorough due diligence (especially for inexperienced or first time home buyers!).

Shopping 🛒
Cheers to Cody S. for starting this thread in the HTM Facebook group about frugal tips when shopping online. You don’t need to be an Amazon Prime member to get free shipping or other discounts!

App of the week ⛽️
Mentioned to us several times recently… GasBuddy! This awesome app shows you prices to all the nearby stations so you can pick the cheapest gas near you. Download from App Store or Google Play

Credit Cards 💳
Our latest post on the best credit cards for unemployed people. (Yes, you can still get a credit card if you don’t have a job!)


Listener Question About Bikes…

This cool email came in last week from Benjamin R. in Southern California…

“Hey Fellas, I heard today’s episode and got super excited when I heard Wayne from Philadelphia’s question about bikes.

I wanted to lend my knowledge out if you guys wanted to pass my email along. I co lead a cycling ministry at my church in SoCal and am always up for having a conversation about bikes. I also have a blog where I talk about cycling and mental health along with other topics.

Below are three articles that will help Wayne out with picking a bike, I can also help narrow down his selection. If you run into anyone else that might have a question, send them my way. I do not mind helping out.”

Cheers Benjamin for all the info! 🙏

We are huge advocates of biking and love sharing any tools to help people find the right biking gear. If you’re new to biking or want to chat more, hit up Ben on his blog BikePlans.

Welp, that’s it for now. You got anything cool going on this week? We’d love to hear what’s happening in your world 😉

Best friends out 🍻


* Advertiser Disclosure: How to Money has partnered with CardRatings for our coverage of credit card products. How to Money and CardRatings may receive a commission from card issuers.
* User Generated Content Disclosure: Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Leave a Reply

Your email address will not be published. Required fields are marked *