💰EVs are about to get cheaper

We have some great tips coming your way this week like this season’s hottest side hustle, a reality check on your favorite subscription service, and how going Monk Mode can help you crush all your goals. 

We’d love to hear your thoughts on all of it so go ahead and drop us a reply. Here’s to supercharging your money, one step at a time.

- Milan

IN THE STOCKS

• S&P 500 4,327.78 (-0.50%)
• NASDAQ 33,670.29 (0.12%)
• Dow Jones 13,407.23 (-1.23%)

*Stock data as of closing on September 13th.

MILAN'S HACK OF THE DAY

Ramp Up Your Online Security Against ‘Credential Stuffing’

Last week, more than 7 million 23andMe users had their data hacked through a method called ‘credential stuffing’. This is when hackers gain access to your username and password on one site and use the same login credentials to access your profile and sensitive information on other sites. 

But with a few simple steps, mishaps like this could be easily avoided. Here’s what you have to do:

• Use different passwords for different websites: password management software like Bitwarden and 1Password can help you keep track of all your passwords in one secure location
• Activate two-factor authentication on all your social media accounts, regardless of how rarely you use them
• Verify your phone number and email ID on your social media accounts so you will be alerted of any suspicious activity
• Make it a habit to change your password every few months to keep your accounts secure

THE MONEY BREAKDOWN

‘Fry Attachment Rate’

In today’s interconnected world, there are many economic indicators that help analyze the well-being of a population. But none as serious as people’s inclination to order a side of fries. 

The ‘fry attachment rate’ measures the number of people who order a side of fries with their meals at restaurants and fast food chains. If this number remains high, it is a sign of a healthy economy and shows that people aren’t financially insecure enough to cut back on little luxuries like fries or their Netflix subscriptions. 

So the next time you’re debating a fast-food run, just tell yourself it’s for the economy! 

IN THE KNOW

Speaking of Netflix 🎬

The streaming giant is apparently increasing its ad-free fees yet again, according to the Wall Street Journal. The hike is to be expected in a few months, once the dust from the Hollywood actor’s strike settles, but no one knows how or by how much yet.

This comes hot on the heels of the streaming company’s efforts to bring Netflix to the real world. From selling merchandise to hosting themed events to launching virtual reality experiences of popular shows, Netflix has tried almost everything. But in an unusual strategy for the platform, they recently released One Piece merch ahead of the premier, even before they were able to gauge audience sentiments for the new show.

Bottom line, Netflix really knows how to ring the extra dollars out of its subscribers. Our advice? Don’t fall for it. There are better ways to spend your time and build a life you’re proud of. If you’re looking for things to do, budget your finances, sign up for a money course, or at least get paid to watch your favorite shows. More on that below.

Get Paid to Cozy Up With Your Favorite Show ☕

In a world that requires you to work crazy hours for a salary that mostly goes towards repaying your student loans, there are heroes who want to pay us to chill. British fashion retailer Pour Moi is hiring a Cozy Coordinator this fall, paying you to do all your favorite seasonal activities in their clothing.

The job description requires you to drink seasonal drinks, watch your favorite fall shows, and curl up on the sofa with your favorite book, all for almost $500 and two free sets of lingerie. All you have to do is write short reviews of the products once you’re done relaxing and revel in the joys of our #1 side hustle this spooky season. 

The application process is pretty straightforward and open to international candidates, just as long as you can get your hands on the things needed to complete the tasks. Applications close on October 31st and tasks must be completed before November 30th so get applying and may the best couch potato win!

How ‘Monk Mode’ Can Help Build Laser Focus 🧘🏽‍♂️

At a time when every single thing in your life is fighting for your attention - the constant notifications on your phone, the massive billboards wherever you look, or the paid ad every third Instagram story - focusing your attention can be the most difficult task. That’s why this age-old productivity technique is relevant now more than ever before.

A technique used frequently in the early 2000s, Monk Mode makes you focus on one task for a predetermined amount of time whilst cutting off bad habits or distractions. It’s extremely effective for whatever is next on your To-do list, be it losing weight, writing an essay, or getting ahead of your finances. Here’s what you have to do:

1. Figure out what you’re going to focus on and how long you’ll need.
2. List down your biggest distractions and find a way to limit them. Delete your social media apps, quit sugar, and switch off your phone, just for this period.
3. Mark down a definitive start and stop date.

Once you’ve got this all down, actioning it out is completely up to you. Think about how badly you want to achieve your goals and work up the courage to do something good for yourself. Good luck and may the productivity Gods be ever in your favor.

Electric is About to Get Way Cheaper🔋

The U.S. Department of Treasury and the IRS recently announced that they will be making electric vehicles much more affordable. Through the Inflation Reduction Act, new and previously owned clean vehicles can now get concessions at the point of sale instead of having to wait for tax returns. 

If you purchase your electric vehicle under the consumer clean vehicle credits, starting January 1, 2024, you can transfer your clean vehicle credit of up to $7,500 and your previously owned clean vehicle credit of up to $4,000 to a car dealer. This upfront downpayment means you’ll get a big discount on your purchase price and will help more people afford an EV in the coming years. 

More FAQs and fact sheets are to be made available by the end of this year so keep your eyes peeled for how you can get in on this electric deal. 

MONEY MYTH OF THE DAY

Always Buy a Home Instead of Renting

Money gurus keep telling you to invest in your own home so you can diversify your asset portfolio and while this is an important part of building wealth, it’s not entirely practical in today’s market. With mortgage rates through the roof and other expenses skyrocketing, it’s okay to continue renting for now. In fact, right now, renting is better. 

Owning a house comes with far more expenses than you’d anticipate: repairs, property taxes, insurance, they all just stack up. So if you’re focusing on building an emergency fund instead of saving for a house right now, don’t worry. You could potentially save more money while renting than outright buying a house.

VIDEOS YOU MAY HAVE MISSED THIS WEEK

Here are the top videos you loved the most this week. Which one was your favorite?