Happy Friday!

It’s time to wrap up another month and plan for the next.

July has always been one of my (Misti’s) favorite months of the year, and not just because it’s my birthday month!

I’m a major lover of the sun and warm weather, so July’s always been a time of celebration and rest for me. 🎉

That said, it’s also one of my more expensive months to budget for.

For this reason, July’s “big money move” is especially critical for my season of life.

Read on for our July budget toolkit!

What to Include in July’s Spending Plan 📝

  • 🎆 July 4th. Between fireworks, cookouts, pool parties, and long weekend trips, celebrating Independence Day can really add up!

  • 🏖️ Summer travel. Is it just me or does no one stay home in July? Take stock of any remaining summer travel plans before the summer ends. Have you budgeted accordingly? Do you need to make changes to your plans?

  • 🎒 Back-to-School Sales. For those of you with littles, now’s the time to start eyeing those school supply sales. Pro-tip: don’t forget to check this site for sales-tax holidays and plan your backpack & clothing shopping accordingly! 

  • ❄️ Winter Holidays. Now is a great time to start thinking ahead so those winter holidays (Thanksgiving, Hanukkah, Christmas, NYE) are accounted for in advance this year! Start saving now and don’t forget to use your high yield savings account, like the one at CIT Bank, who is offering a 4.65% APY! **

What’s on Sale in June? 📢

  • 🍖 Grills and patio furniture

  • 💻 Laptops

  • 👚 Spring and summer clothes

July’s Big Money Move: Q2 Check Up & Q3 Goals 💸

July’s two-step money move is to check up on your Q2 progress and set new goals for Q3. A super easy way to do this is to use a budgeting app like Monarch Money. This is what Jen uses and she raves about it (and she rarely raves about budgets 😂)

Monarch is running a 50% off sale through June 30th. This is your last chance to get it at $50 for a year (after June it’ll be $99) so if you want to try it do it now! Use code MINT50 to get 50% off one year of Monarch Money.**

Step 1: Look back on Q2. If you set goals earlier in the year, take a look at your progress. Otherwise, review the following:

  • Your savings. 💰 Are you holding this in a high-yield savings account (like CIT Bank)? Do you know what you’re saving for? Are you able to contribute something monthly? **

  • Your retirement investments. 📈 Do you know what your money is invested in? Are you still contributing enough to meet your retirement goals? Have you set retirement goals? 

  • Your credit score. 💳 The 3 main reporting agencies, Experian, TransUnion, and Equifax, provide a free report annually. Be sure to check for any mistakes or errors on your report at least annually. You might also have access to more informal credit score monitoring through your credit card company, like Chase Credit Journey, to help you track quarterly.

  • Your net worth.💲 This is a simple calculation: subtract your total debt from your total assets. I have quarterly goals set to benchmark increasing my net worth, but I actually track this WEEKLY to see that number go up!

Step 2: Revisit your goals. Now that you’re armed with your current data, do you still feel confident trekking forward with goals you already have, or do you need to set new ones? 

What to Cook 👩‍🍳

Here’s two recipes that lean into seasonal produce this week: 

I feel utterly clueless when it comes to establishing a quality skin care routine, especially now that I’m a nomad living out of a small toiletry bag. I’m taking notes on Tuesday’s episode Minimalist Skin Care Routine (Ep 418). 

Check out today’s episode for an amazing Debt Free Story (DFS): How Tina Overcame Setbacks to Pay Off $175K of Debt (Ep 419)!

Tune in wherever you get podcasts and let us know what you thought of the episode over on our latest Instagram post!

Talk soon,
Misti

⭐️⭐️ P.S. Want to share all this goodness with your friends AND earn cool Frugal Friends merch?

**Means this is a sponsored or affiliate section. We may earn a small fee or commission when you choose to try one of our sponsor or affiliate partners. But opinions are still 1000% our own.

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