APM Elevate: June 2026

REACH YOUR GOALS

Review Your Current Expenses for a Better Budget

Almost 60% of Gen Z Americans are planning to move this year and will need to create a starter budget. They’re not alone; some Millennials and Gen Xers are still operating without one.

Creating or revising a basic budget by reviewing current expenses can help new and seasoned homeowners and renters make healthier financial decisions, especially when inflation affects buying power. Prioritizing your monthly bills is a good place to begin.

Housing: Making on-time rent or mortgage payments should be your first priority. You may be hit with fees if you pay late, and your credit could be affected as well.

Utilities: Energy prices are rising, so look for ways to use less of it. Consider installing a smart thermostat, updating your lighting, and checking windows and doors for air drafts.

Heating and cooling: If you’ve bought your first home, you’ll want to budget for regular HVAC system maintenance. Regular tune-ups are much cheaper than repair bills.

Internet connections: One common savings strategy: bundle your internet, cell phone and streaming services with the same provider. You may not need maximum Wi-Fi speeds unless your streaming video or gaming requires it.

Groceries: Start your first month with a generous estimate and keep all of your grocery receipts, so you can review them and look for ways to save.

Transportation: Your new place may offer options for reducing travel and commuting costs, such as public transport or biking. Or you may need to drive to work now, which can increase your expenses.

After you’re settled, consider signing up for email or text notifications for as many monthly bills as possible, so you won’t forget about them. Almost all credit cards offer this, and so do some types of loans. It’s also a good idea to go easy on the extras for the first month or two, until you’ve fine-tuned your budget.

This information is for educational and informational purposes only and does not constitute financial, investment, or legal advice. Need assistance? Contact your local APM Loan Advisor for a referral to a qualified financial advisor.

Source: empower.com

MORTGAGE IQ

Is Your Mortgage Still Working for You?

Most people review their investments, insurance policies, and household budgets on a regular basis. But when it comes to their mortgage, many homeowners set it up once and rarely think about it again.

The truth is, your mortgage should evolve with your life.

Over time, circumstances change. Your home may have increased in value, you’ve likely built equity, your income may be different, and your financial goals may have shifted. What made sense when you purchased your home several years ago may not be the best fit today.

That’s why it’s a good idea to schedule a periodic mortgage review.

A mortgage checkup can help answer important questions, such as:

• Have you built enough equity to eliminate mortgage insurance?

• Would accessing some of your equity help fund renovations or other financial goals?

• Could consolidating high-interest debt improve your monthly cash flow?

• Are you planning to move, downsize, or purchase another property in the future?

• Is your current mortgage still aligned with your long-term financial plans?

Even in a higher-rate environment, there may be opportunities worth exploring. A mortgage review isn’t always about refinancing. It’s about understanding your options and making sure one of your largest financial commitments continues to support your goals.

The best part? A mortgage checkup is typically quick, straightforward, and can provide valuable insight into your overall financial picture.

If it’s been a while since you’ve reviewed your mortgage strategy, now may be a great time to revisit it and ensure your home financing is still working as hard as you are.

FINANCIAL NEWS

Inflation Hits Three-Year High

The Bureau of Labor Statistics released the monthly Consumer Price Index (CPI) earlier this week, which is an indicator of changing costs. The CPI rose by a seasonally adjusted 0.5% for the month, putting the annual inflation rate at 4.2%.

Inflation climbed above 4% for the first time in three years, largely affected by surging energy prices. However, when food and energy prices are removed, the core CPI only accelerated 0.2% for the month, coming in below the 0.3% estimate.

The report indicated that much of the inflation surge came from a 3.9% jump in energy prices, putting the 12-month increase at 23.5%. Core commodities prices actually posted a 0.1% decline on the month, indicating muted tariff pressures.

Food accelerated just 0.2% while shelter costs rose 0.3%. Shelter, which makes up more than one-third of the CPI weighting, rose 3.4% annually.

Source: cnbc.com

DID YOU KNOW?

How an Initial Public Offering (IPO) is Created

Since the SpaceX initial public offering (IPO) is making headlines as the largest in history — currently valued at $1.75 trillion! — you may be curious as to how a typical IPO works, especially if you’ve never purchased this type of share.

Steps in an IPO

1. One or more investment banks are recruited to handle the IPO.

2. All parties involved, including the management team, accountants, the bank underwriting the IPO, lawyers, and Securities and Exchange Commission (SEC) experts, meet to discuss the IPO.

3. Due diligence is conducted on the company to make sure the registration statements are accurate. When this is completed, an S-1 Registration Statement is issued and filed. It includes historical financial statements, key data and risk factors.

4. A pre-IPO meeting is held to educate bankers and analysts about the company, and how to sell the company’s shares to potential investors.

5. A preliminary prospectus may also be drafted. This will provide details of the company, core strengths, potential risks, and how the capital raised by the IPO will be used.

6. The company planning an IPO is marketed to investors to learn more about pricing. This may result in revision of the initial share price. If the IPO is oversubscribed, which means there are more potential buyers than shares, share pricing will probably be higher.

7. Once the IPO price is set, the banks will allocate shares to investors, and the stock opens for trading.

This article should be considered an introduction to IPOs and not a recommendation. If you’re thinking about investing in an IPO or anything else, ask your local APM Loan Advisor for a referral to a licensed financial professional.

Source: corporatefinanceinstitute.com

PERSONAL FINANCES

Don’t Skip Your Summer Vacation…Dupe It

If higher prices are putting a dent in your summer vacation plans, a destination dupe may be the solution. These are more affordable destinations than popular cities in the US, UK and Europe, but still offer a similar vibe and plenty of attractions.

Travelers choosing this option also report having a more relaxed vacation, with the added bonus of finding hidden gems like restaurants and museums. Here are some destination dupes to consider for your next trip.

Dupe Chicago or Mexico City for New York City. Travel experts choose these cities as they both offer big-city energy, world-class museums, and endless dining and shopping choices.

Dupe Boston for London. While London has plenty of history to explore, it’s also one of the most expensive cities in the world. Boston’s historic downtown provides walkable discoveries and old-world character.

Dupe Savannah for Paris. What can match the romance of Paris? Head to the American South and, more specifically, Savannah, Georgia. The Hostess City of the South is romantic, walkable and provides Parisian charm with a Southern twist.

Source: investopedia.com

FOOD

Brazilian Limeade

This drink is popular around the world, with Brazil’s version nicknamed Limonada Suíça (Swiss Lemonade). This simple, refreshing recipe for Brazilian Frozen Limeade only requires four ingredients, a blender, and plenty of ice. You can make a grown-up version by adding rum, if you like.

AROUND THE HOUSE

This Year’s Comfortable, Classy Hit: Fat Furniture

Want to bring some vintage vibes into your home, or looking for some extra-comfy pieces for your living room? The “fat furniture” trend was first spotted in England and Europe and quickly crossed the Atlantic Ocean to the States.

The fat furniture trend celebrates the power of the curve. These soft designs feel strongly inspired by ’70s decor and bring a bit of whimsy and comfort into any space — from minimalist to eclectic. Guests entering your home for the first time will find them especially inviting…who doesn’t want to sink into a puffy chair that reminds them ever-so-slightly of their childhood beanbag chair?

You can choose from this year’s showroom sofas, ottomans and chairs, or indulge your love of vintage and pick up a curved sofa from the 1940s or even earlier.

If you prefer to go custom, you can choose from American furniture maker Benchmade Modern’s Skinny Fat collection. Sofas, love seats, sectionals and beds are available in a variety of colors and fills, with both fabric and leather upholstery options available.
 
Source: dwell.com