Happy Monday Future Funders Family!

For all the dads out there that want to try to milk it for an extra day, did you know the first Father’s Day ever was actually celebrated today?

Okay, let’s get to it!

💬 Quote Of The Week

🍽️ The Main Course

Headlines That Matter

Economy

Prices Continue To Trend Lower

🚀 The quick version: We got lots of positive inflation news this past week and here are the highlights: 

• The Consumer Price Index (CPI), what most people use as the “official” inflation number, came in lower at +4.0% for May below the +4.9% we saw in April. The Core CPI (not factoring in food and energy costs) was +5.3% down from +5.5% in April.

• The Producer Price Index (PPI) also cooled coming in at +1.1% for May vs. +2.3% in April. Core PPI (ex. food and energy) was +2.8% vs. +3.3% in April. This index measures what producers pay to make your products so it can be a good reading on future prices you will pay.

• The FED paused their interest rate hikes deciding not to raise rates for the first time in 10 meetings. While there is debate on whether we get one or two more future rate increases (if any), most people think we are close to finished.

• Kroger, the third largest grocery chain in the U.S. reported earnings and noted that “inflation started to show signs of deceleration throughout the quarter…We expect inflation will continue to decline as the year progresses.”

👪 How it affects your family: Prices still remain stubbornly high in certain areas but we believe over the next six months families everywhere should continue to see this downward trend continue.

Here are few ways you can capitalize:

• Spending: Have any big purchases coming up like a car, expensive furniture, or even a house? If we are right and prices continue to drop, you should maybe consider holding off on those big ticket items. Conversely, if you are looking to sell your car, now may be a good time.

• Investing: With the CPI now at 4.0%, you don’t have to risk your money in the stock market to outpace inflation. Short-Term Treasury Bonds or CDs offer a +5% return.

• Personal Debt: If you have any high interest rate loans outstanding, put a post it note on the fridge to watch refinancing rates. If we are right on prices coming down, interest rates should not be too far behind.

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Education

Student Loans Are Back

🚀 The quick version: The student loan payment pause in the U.S. is rapidly coming to an end, and there are four big updates every family should be aware of:

1. As part of the recent bill to raise the debt ceiling, student loan payments are now set to resume after August. As it has now been codified by legislation, there will likely be no extension barring another national emergency.

2. The third party loan servicing company landscape has dramatically shifted in the last 3 years and at least 40% of borrowers will be working with a different company than pre-pandemic (here is how to check on yours).  

3. New income driven student loan repayment plans are being discussed to replace existing ones. This will likely be unveiled later this year or early next year.

4. While the White House’s student loan forgiveness sits before the Supreme Court (ruling likely any day now), there are important adjustments to the 20 or 25 year student loan term forgiveness plans being implemented and worth knowing about.

👪 How it affects your family: To be sure, none of these changes in the news recently target the real problem of skyrocketing higher education costs. That said, we have a few tips that can help.

• Loan Service Providers: As noted above, chances are likely that if you have a current loan, the service provider has changed. We would suggest calling them up sooner rather than later as their may be delays the closer things get to September.

• Household Budget: Start working student loan repayments back into your household budget. If you need one, here is a free monthly budget template you can use. 

• Refinance: As mentioned above, keep an eye out for better rates we think may be coming your way in the next six to twelve months as a chance to refinance.

• Student Loan Budget: If your kids are in school, have them budget how much they will need to take out so they don’t draw too much when the time comes (here is our free and handy student loan budget template). 

If you don’t have kids in college yet, here are some things you can do to prepare:

• 529 Plans. Recent rules have changed and now allow you to convert what you don’t use for a 529 plan into a Roth IRA. This rule change can set your kids up for the long term regardless if they use the money for education or not.

• Watch Your Investments. Regardless of what plan you are using to save for your kids education, we would recommend safer investments as you get closer to using the cash (this dad was caught by surprise).

• Education ROI. Use this opportunity to talk to your kids about the concept of return on investment when it comes to their education (is an Ivy League education worth it? We have a view).

🥘 The Side Dishes

A few things to know…

🏨 Get lower hotel rates. A new start up called HotelSlash provides a way for you to save some money with exclusive access to deeply discounted rates at over one million hotel properties worldwide. 

📺 Getting selective about your entertainment. Netflix has been cracking down on password sharing— and it’s actually working. More services are likely to follow so we would suggest deciding soon which ones you really want to keep (or who you need to cut from your account).

🛍️ New shopping tool. Want to know if that product you are buying on Etsy is truly unique, or just an overpriced copy? We found this site to help you.  

🏕️ Camping survival kit. Going on a camping trip with the kids? Adventurer and TV host Bear Grylls explains what to put in your survival pack.  

🎟️ Want to take the kids to see Taylor Swift or Beyoncé? Go international. Tickets are cheaper in most cases (this even includes travel) and there are a few places where the U.S. Dollar is actually stronger (i.e. will go farther) this summer vs. last: Canada, Argentina, Japan, Australia, and Turkey. 

🚀 Elon Musk hired a 14 year old. Kairan Quazi can’t watch an R-rated movie at the theater by himself but he can work at SpaceX.

✈️ Best day to buy airline tickets to save money. If you guessed Friday, you would be wrong (don’t feel bad, we guessed Saturday and were also wrong). 

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🗓️ The Week Ahead

June 21st

Today is officially the first day of summer. Grab the sunglasses and sunscreen and if you are traveling with the family here are 11 quick tips to save.

June 23rd

Today we will get the Services Purchasing Manager Index (PMI) for May. This is basically a monthly temperature check on how the service sector is doing (which makes up almost 80% of the U.S. economy).

June 23rd

Today is National Take Your Dog To Work Day (if your employer is fido friendly of course). We are admittedly biased having dogs in our family, but there are some proven benefits for kids. 

🍨 Dessert

This Week’s Topic of Focus

25 Ideas For Parents To Make Money From Home

Saving is only part of the income equation, but most forget the other side: earning. That’s why we wanted to give you 25 ideas to boost your earning power from home.

Dinner Discussion ❓