🌎 Real-world tips to fight inflation
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Here’s what’s in today’s newsletter:
📝 Main topic: My favorite savings tips to fight inflation
❓ Weekly Q&A: When should I do Roth conversions?
✅ What I’m Enjoying: A couple of TV series, a book trilogy, and a blow-dry spray
🗞 In the News: Stay up to date on personal finance news
📩 ICYMI: Recent newsletters you shouldn’t miss
🎙 Recent podcasts: Dig into loads of topics in the Money Girl archive (848+)
Hi, Friend -
While inflation is cooling, the best way to fight it is to be mindful of your spending by cutting costs or getting more for your money.
🎙 This week on Money Girl 847, 15 Savings Tips to Fight Inflation, I review 15 of my favorite saving tips for keeping more of your hard-earned dough. Listen to the audio podcast or click here to read the transcript.
⭐️ Also, investing is critical to ensure you have growth that outpaces inflation.
If you’re feeling behind or need investing guidance and motivation, don’t miss my upcoming workshop:
🗓 Smart Investing Masterclass: Make Money & Achieve Financial Freedom While You Sleep! 💤 — August 8 at 2:00 ET
The Live Event and Video Recording are free for paid subscribers, but you can also register for the Masterclass without subscribing by clicking here!
❓ On Finance Friday shows, I answer your money questions! This week’s topic comes from Nancy P., who says:
"I recently discovered your podcast and really enjoy it! I’m 60, single, have an annual income of $84,000, and want to retire at 63. I participate in my 401(k), which has a $900,000 balance, and have a Roth IRA. Should I do annual Roth conversions up to the maximum annual amount–and how would that affect my taxes?”
Knowing if or when you should do Roth conversions is an excellent topic I cover in Money Girl episode 848, When Should I Do Roth Conversions?
As always, you can listen to the show or read the transcript.
📺 Simone Biles Rising is a two-episode Netflix series following Biles as she explains her exit from the 2020 Olympics and trains for her return in 2024. She’s incredibly open about her personal life and mental health journey, and understanding her challenges and accomplishments makes her even more relatable and inspiring.
🎬 Presumed Innocent is an Apple TV series based on a legal thriller novel by Scott Turow. I didn’t read the book, but the adaptation starring Jake Gyllenhaal is excellent. He’s a prosecutor charged with the murder of his colleague, who he was having an affair with.
📚 Wolf Hall is the first of an award-winning trilogy by Hilary Mantel. It reimagines life in England in the 1520s under Henry VIII. He wants to annul his 20-year marriage and marry Anne Boleyn despite opposition from the Pope and most of Europe. I just started this fantastic book and can’t wait to read the next two in the series!
👸 Kenra Platinum Blow-Dry Spray is saving my hair this summer in Florida’s heat and humidity! Not only does it help hair dry faster, but it also detangles, eliminates frizz, and protects it from blow-dry heat. Why didn’t I find this sooner?
🗞 Mortgage rates remained flat at 6.78% but are nearly a half percent lower than their peak earlier this year.
🗞 Inflation continued slowing, with a 2.9% rate in Q2, down from 3.7% in Q1. That’s a good report that could make the the Fed more likely to cut rates in September.
🗞 US gross domestic product (GDP) shattered expectations with a 2.8% increase for Q2, doubling its pace from Q1.
🗞 Credit card delinquencies soared to their highest levels since the Federal Reserve Bank of Philadelphia has tracked them since 2012—perhaps due to the effects of inflation and higher household spending seen in the GDP data.
🗞 Southwest Airlines is nixing open seating for the first time in its history and will offer premium seats with extra legroom, helping to boost profits.
🎧 848: When should I do Roth conversions?
🎧 847: 15 savings tips to fight inflation
🎧 846: How should I invest for retirement after a 401(k)?
🎧 845: How to know if you can retire early
🎧 844: What should I do with an old 401(k)?
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