In this week’s edition of “What’s Impacting Your Wallet,” we share some “SMART” ways to get back on financial track for the second half of the year, how to invest an extra $1,000, and why being frugal can actually cost you money. Here’s what you need to know now:

• Have you stuck to your financial New Year’s resolutions? If not, don’t worry—LearnVest Reporter Molly Triffin has you covered with her article titled, “4 Ways to Reboot Your Money Resolutions at the Six-Month Mark.” Her advice includes using the “SMART” system—a step-by-step achievement approach that stands for Specific, Measurable, Attainable, Relevant and Time-Bound—and enlisting a friend to help hold you accountable.

• According to USA Today Reporter Jeff Reeves, a lot of Americans have some extra dough saved up thanks to the unemployment rate decreasing, gas prices remaining relatively cheap and the stock market continuing to hit all-time highs. If you have, say, $1,000 burning a hole in your pocket, Reeves recommends 5 simple ways to invest that money now, including increasing your 401(k) contribution (or start contributing if you’re not already), buying an index fund, tapping a high-yield savings account and paying back your debts.
• It may seem counterintuitive, but chasing the best deal doesn’t always mean that you’ll save money in the long run. Daily Finance Reporter Allison Martin points out 10 ways that being frugal can actually cost you money. Your thriftiness can backfire when you’re being unrealistic about your spending goals, cutting corners on insurance, ignoring routine medical visits, cutting back on nutritious food and raising your deductibles,  just to name a few.