🔥 ^{Hot off the press: Here’s what’s burning up our news feed.} 🔥

• Cheap Inexpensive Summer Meal Prep

• Breaking Down The Consumer Price Index for May. Finally a Break?

• The Fed Finally Took a Breather

Let’s Chop It Up…

🏖️ Summer Series 🏖️

Foodie Alert: Budget-Friendly Summer Food Hacks for the Frugal Gourmet

Ready to spice up your summer meals? (Without emptying your wallet, of course!)

Let’s jump into the tantalizing world of summer-style frugal feasting!

Farmers' Markets: Your Wallet's Best Friend 🌽🍅

Don't get me wrong, I love a good supermarket sweep as much as the next person, but have you ever set foot in a farmers' market? They're a treasure trove of fresh, local produce – often cheaper and definitely tastier.

If farmers’ markets are hard to come by in your area, I’ve recently stumbled upon a company called Imperfect Foods. Salt and I have been using them ever since and it’s slashed our grocery bill in half! Imperfect Foods specializes in:

• Organic foods that are cost-effective

• Weekly delivery right to our doorstep

• A wide variety of options

• No subscription fee

• Free shipping if you spend over $60 (otherwise it’s $5.99)

Plus lucky you, if you use our link you get $20 off your first order of $40 or more.

_{Disclaimer: If you use our link we also get $20 off our order (help a sista out} 😉₎

Summer Recipes: Nutritious, Delicious, and Economical? 🍽️💰

Can you have a meal that's healthy, yummy, and easy on the wallet? The answer is a resounding YES.

You've heard of BOGO deals, but what about COET (Cook Once, Eat Twice)? Now, I'm not suggesting leftovers for every meal, but intentionally planning dishes that can be repurposed for tomorrow's lunch. Now we're cooking! (See what I did there?)

So go ahead, save your dough, and let your culinary skills show.

Looking for the best place to find recipe gems — Pinterest all the way.

🔑Pepper’s Key Takeaways

Inflated food prices have dropped quite a bit (by about half). But challenging yourself to push the envelope when it comes to saving money on groceries is still a goal for many.

1. Take inventory of what you have: I’m embarrassed by the amount of food I had in my pantry that I wasn’t utilizing.

2. Make a menu: The relief of knowing what you’re shopping for and cooking for the week is a huge lift off your plate. If you’re really going for it, try to make multiple meals from the same items. (Mexican cuisine is a great example).

3. Seriously try imperfect foods: Hubby put me onto organic and using Imperfect food accomplishes eating better, saving money, and being more sustainable all at the same time.

1️⃣ Cooling the Heat: A Refreshing Look at Inflation

Good news on the economic front: The Consumer Price Index (CPI) shows that overall inflation has dipped to 4% (y-o-y), while the core figure is slightly higher at 4.9%.📉

Compared to last year's CPI of 8.6%, we've seen a significant drop, signaling decreased inflationary pressure for the average American 🙌. Let's break down some of the key components:

• Grocery store inflation dropped from 11.9% to 5.8% over the last year.

  • Potential Causes? The decrease here could be due to improvements in supply chain issues that had initially been disrupted due to the pandemic. Additionally, the easing of global food prices and local seasonal variations in produce availability might have contributed to lower prices.

• Energy costs have swung from a rise of 34.6% y-o-y 12 months ago to a decrease of 11.7%.

  • Potential Causes? Fluctuations in energy prices can often be tied to international markets, geopolitical issues, and even weather events. The recent decrease might be due to increased production or decreased demand on a global scale. Government policies promoting renewable energy can also influence this.

• Gasoline prices, which increased by 48.7% y-o-y last May, are down by 19.7% today.

  • Potential Causes? These often move in line with energy costs. Factors include crude oil prices on the international market, refining costs, distribution and marketing costs, and the levels of supply and demand.

• New vehicle costs, once 12.6% higher a year ago, are now up only by 4.7%.

  • Potential Causes? This slowdown in price increase could be due to a number of factors. Auto manufacturers may have increased production, thereby lowering costs. Additionally, if the demand for new vehicles has decreased, perhaps due to more people working from home or favoring used vehicles due to economic uncertainty, prices would likely not rise as rapidly.

• Housing costs, despite remaining high, have seen their first declines since late 2020 over the past two months.

  • Potential Causes? These costs can be impacted by a range of factors including changes in demand, mortgage interest rates, construction costs, and even policy changes. The recent decline could indicate a cooling in the housing market, possibly due to higher mortgage rates, an increase in housing supply, or reduced migration to urban areas.

🔑 Salt’s Key Takeaways

From a macroeconomic perspective, these trends are promising. The Federal Reserve has navigated a "soft landing" for the economy, managing to lower inflation while maintaining a relatively robust job market.

Decisions on interest rates at this week's meeting are highly anticipated, with most expecting a pause before another small hike in July.

I understand that the fear of an upcoming recession may be causing anxiety for some. However, my advice during these times remains the same: Keep calm and carry on.🙏 We’ll continue to unpack these economic trends together as they come to light.

_{(Disclaimer: This is a simplified analysis. Economic shifts are often multi-causal and regional-specific.)}

2️⃣ Related News: The Federal Reserve Also Takes a Breather

Well, this is a welcoming site. We are finally starting to see some sort of breathing room across the board in terms of how much it cost to stay alive. Albeit, just a pause in this nailbiting journey we’ve all been on but any hiatus in the cost of living is extremely welcomed.

Just as we are seeing consumer prices drop across the board, the Federal Reserve decided to hit the pause button on hiking interest rates (for now). While these topics might sound as exciting as watching paint dry, trust me when I say that this all affects you and your wallet more than you realize.

Rate Hikes: A Marathon, Not a Sprint

Our buddy, the Federal Reserve, has been in a race, hiking interest rates faster than you can say "inflation" ten times since last year. But it seems like the Fed is getting a bit tired and may take a breather. But don't get too excited. Much like a horror movie villain taking a break, this pause doesn't mean we're safe from further hikes.

Feeling the Pinch

Despite the potential pause, things are still a little tight. Real wages are declining thanks to higher prices, and many are sliding into debt. Here's a quick look at how these changes are poking holes in our pockets:

• Credit card rates topping 20%: It's like running a marathon on a treadmill, the rates are high, and they're not coming down anytime soon. If you're carrying a balance from month to month, the interest is just adding more weight to your financial backpack.

• Mortgage rates are near 7%: House hunting isn't fun anymore. It's a wild safari, and you're not the predator, you're the prey. Between inflation and the Fed's policies, the costs are high, and the housing market's not on our side.

• Auto loan rates are close to 7%: Picture this - you're driving your shiny new car off the lot, and then BAM! You're hit with a higher interest rate. Even the joy of new car smell can't mask that.

• Federal student loans rising to 5.5%: For all the students out there, I feel you. Fresh textbooks, an inspiring lecture, and oh, a side of increased interest rates. Yay?

• Deposit rates at banks up to 5%: The silver lining in this fiscal cloud. Your savings account might finally be worth something. Online banks are throwing a rate party, and you're invited. Enjoy it while it lasts!

So What Does This Mean For You?

Remember, this is just a pause, rates are still high across the board, they just won’t be increasing this month. So if you have been on the fence about needing a new car or being in the market for a new home, this month might be the time to make some moves. In order to lock in a “lower“ rate while you can. Because the Fed has already been quoted as saying at least two more rate hikes are in our future before the end of 2023.

How does this rollercoaster of rates affect you and what can you do about it?

1. Cut the Credit: Try to reduce your reliance on credit cards. Yes, they're tempting, like an all-you-can-eat buffet, but the aftermath isn't pleasant.

2. Mortgage Mayhem: If you're house hunting, factor in the higher rates. Don't be the person who buys more house than they can afford. That's like eating an entire cake because it's your "cheat day".

3. Auto Awareness: Before getting that car loan, do your homework. Are you really comfortable with nearly 7% interest on your dream car? Or could it be a potential nightmare?

4. Student Loan Strategy: If you're taking on student debt, make sure your degree is worth it. You're investing in your future, make sure the return is higher than your interest rate.

5. Smart Savings: Take advantage of those juicy online savings account rates. It's the closest thing to a financial free lunch you'll get.

Buckle up for some real talk. Our candid, no-nonsense advice may not win popularity contests, but it sure gets results.

1. Prioritize Paying Off High-Interest Debt:

   High-interest debt, such as credit card debt, can accumulate rapidly and become a significant burden. The faster you can eliminate these debts, the less you'll have to pay in the long run. Start by listing out all your debts and their respective interest rates, then focus on paying off the ones with the highest rates first. This strategy, known as the avalanche method, can save you a substantial amount of money over time.

2. Automate Your Savings: 

   One of the easiest ways to consistently build wealth is to automate your savings. Set up your bank account so that a portion of your paycheck is automatically transferred to a savings or investment account. By doing this, you're ensuring that you pay yourself first, rather than only saving what's left at the end of the month. This method helps to instill a habit of regular saving, which over time, can significantly contribute to your wealth.

3. Diversify Your Investments:

   It's a fundamental principle of investing that diversification can reduce risk. If all your money is in one type of investment and it performs poorly, you could lose a significant portion of your wealth. By spreading your investments across a variety of asset classes (stocks, bonds, real estate, etc.), sectors, and geographical locations, you can protect yourself against unforeseen events in any one area.

4. Increase Your Financial Literacy:

   Financial literacy is an essential tool for building wealth and eliminating debt. Spend some time each week educating yourself about personal finance topics. This could involve reading books, attending seminars, or listening to podcasts. The more you understand about money management, investment strategies, and the economy, the better equipped you will be to make sound financial decisions and achieve your financial goals.

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_{Disclaimer - Any content produced by Salt & Pepper Brands is intended for informational use only. When it comes to managing your funds, we love to provide high value to our readers and give actionable tips. However, you shouldn’t construe anything here as legal, tax, investment, financial, or other advice.}