Money Management

Costco and Sam’s Club both have plenty to offer shoppers. Read on for a few key signs that suggest Costco could be a better option for you than Sam’s Club. [[{“value”:”

Both Costco and Sam’s Club are warehouse clubs that you pay a membership fee to join. Many people opt to pay the cost of membership because these warehouse clubs offer bulk bargains.

For most people, it doesn’t really make sense to join both Costco and Sam’s Club. There’s a lot of overlap between what the stores offer, and your budget might not bear the cost of both. But it can also be hard to know which is the right one. If you’re currently a Sam’s Club member and are considering making a change, be on the lookout for these three signs that a Costco membership may be better for you.

1. You prefer quality over quantity when buying store brands

Both Costco and Sam’s Club each sell their own store-brand products. Costco’s is the Kirkland Signature brand, while Sam’s Club’s house brand is Member’s Mark. Sam’s Club actually has more Member’s Mark products, launching or reformulating more than 1,200 items just since 2020 alone, while Kirkland has around 350 products total.

But Costco is generally better-known for the quality of its Kirkland products. There are a huge number of devoted Kirkland fans, and the store’s been rigorous in its selection process, with the warehouse club’s co-founder and former CEO indicating that the goal was to ensure its products were “equal or better quality than national brands.”

So if you prioritize a smaller number of high-quality products over a larger selection of store brands, Costco could be the right choice.

2. You want the most flexible possible return policy

Costco and Sam’s both have great return policies, offering the chance to return most of the items you buy with no questions asked. However, Costco is slightly more flexible than Sam’s for a few key reasons.

For one thing, Sam’s Club “prefers” that you have a receipt and says it will “do its best” to process returns if you don’t, while Costco doesn’t need a receipt. Costco also has fewer restrictions than Sam’s, allowing you to return cellphones within 90 days of purchase while Sam’s won’t take cellphones back at all.

So, if you want to make sure you can bring back any items that don’t work out right even if you’ve tossed out your receipt, Costco may be a better store for you.

3. You’re looking for a bigger store

Finally, if you’re looking for a little more room to browse, Costco is going to be the right choice for you. The average Costco store is around 147,000 square feet, while Sam’s Club warehouse clubs average around 136,000 square feet.

Having more room makes it easier to navigate, especially if you tend to do your shopping on more crowded weekend days or weekday evenings.

If you spot any of these signs, it may be time to cancel your Sam’s membership or simply not renew and break out the credit cards to pay for a Costco membership instead. The good news is, Costco allows you to cancel your membership at any time, so if you try out the change and it doesn’t work for you, you can always go back to Sam’s.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Christy Bieber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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You might struggle to find a larger home if you need one. Read on to see why. [[{“value”:”

It would probably be an understatement to call today’s housing market challenging for would-be buyers. Not only are mortgages expensive to sign, but housing inventory is sorely lacking. All told, not a great combination.

You may be having an exceptionally hard time finding a home if you need a larger one to accommodate your family. Again, that could be a function of limited inventory in general. But there’s another reason why you might struggle to find a larger home today.

Older homeowners are staying put

It was once a pretty common thing for older homeowners to downsize once their kids grew up and moved out. But data from Redfin finds that baby boomers who are empty-nesters own 28.2% of large homes (homes with three bedrooms or more) in the U.S.

By contrast, millennials with kids only own 14.2% of the country’s large homes. And if baby boomers refuse to leave their homes, it’s only going to be that much more challenging for younger buyers to find properties that meet their families’ needs.

Why aren’t boomers budging?

There are a few reasons why older homeowners with empty nests may be opting to stay put rather than move. For one thing, it’s not necessarily a great time to downsize.

As mentioned earlier, mortgage rates are expensive. And it’s not a given that every older homeowner will be able to sell their property and buy a replacement home outright in cash. As such, boomers who know they’ll need to finance their next home purchase may be looking to avoid that situation due to the high cost of borrowing today.

Also, just as limited housing inventory may be making it more difficult to find a larger home, some older homeowners might be struggling to find the ideal smaller home. And why would anyone want to move to a home that doesn’t fully meet their needs at that stage of life?

There’s also the exorbitant cost of long-term care to think about. Many older Americans would probably rather age in place than spring for an assisted living facility — something whose median annual price tag last year was $64,200, according to Genworth. To put it another way, it could prove to be a lot less expensive to retrofit an existing home to accommodate aging than pay for something like assisted living for years.

How to find a larger home when there aren’t many available

If you have a larger family, you may not be willing to compromise on square footage. And frankly, you shouldn’t, as that could lead to uncomfortable living quarters for many years.

Instead, you may want to be open to different neighborhoods. The more you’re willing to broaden your search parameters, the greater your chances of finding a suitable home.

Similarly, don’t say no to larger homes that need work. You may be able to convert a dingy, unfinished basement to a nice amount of usable space that allows your family to spread out.

Finally, don’t write off the idea of buying a smaller home on a larger lot and putting on an addition. Of course, this has the potential to be a costly and complicated project. But it may be a solution if you’re struggling to find a home that’s large enough to meet your needs within your price range.

Let’s say your home-buying budget maxes out at $500,000, and you can’t find a larger home within that threshold. What you could possibly do instead is buy a $300,000 home and then spend $200,000 on an addition you finance.

All told, it’s easy to see why older Americans aren’t so quick to give up their larger homes. As mortgage rates fall, we could see more movement in that regard. But for now, you may need to get creative and flexible if you’re looking to buy a home that’s generous in size.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
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A Laurel Road survey found that women don’t feel prepared for the expenses of retirement and more. Keep reading to find out why. [[{“value”:”

Women often face a few extra obstacles on the road to financial wellness. The gender pay gap and other inequalities in the workplace and in the world of investing can unfortunately cause women to feel behind on their financial goals.

A new survey from Laurel Road found that more women feel like they’re falling behind on their personal finances compared to 2023.

Why do so many women feel behind on their personal finances? Let’s take a look at the Laurel Road survey findings to learn more.

Women in 2024 are more likely to feel “behind schedule” on finances

Laurel Road surveyed more than 2,100 U.S. men and women in February 2024 about their finances, and only 25% of women said that they are “not behind schedule” on any important goals for their financial security. This is down from 34% of women in 2023.

Here are a few areas of their personal finances where women are feeling more stress in 2024.

Retirement savings

The Laurel Road survey found that 38% of women feel behind on retirement savings. It’s understandable that women might feel extra pressure to save for retirement; because of the gender pay gap, women often struggle to save as much for retirement as men. The American Association of University Women (AAUW) cites survey data showing that U.S. women have only about 32% of the wealth that men own, and women’s retirement income is only about $0.70 for every dollar that men receive in their golden years.

If you’ve had to cut back on your retirement savings in the past year due to higher inflation or higher costs of everyday expenses like car insurance, you’re not alone. But don’t feel like it’s too late to save or that you can never catch up! Depending on your age, you likely have plenty of time to save, invest, and let your money grow for retirement. And women tend to be good investors: Motley Fool research found that women tend to outperform men at investing, earning an extra 0.4%-1.0% of average annual returns.

Credit card debt

Almost a third (30%) of women in the Laurel Road survey said that they’re feeling behind on credit card debt repayment. High-interest credit card debt is a poster child for “bad debt.” No one loves paying high APRs, especially if it’s for everyday items that you should ideally pay for with cash or from your checking account.

If you have credit card debt, it’s never too late to make a plan to pay it off. Get a budgeting app or debt payoff app to zero in on the fine details of where your money is going every month. You might be able to pinpoint a few hundred dollars of easy savings just by canceling subscriptions and cooking at home more often. Debt payoff apps can show you a plan for how your debt will shrink over time, depending on your interest rates and monthly payments.

And if you have a decent credit score, you should consider applying for a zero-interest balance transfer credit card. These cards can buy you some time to pay off your debt faster with a year or more of 0% APR (terms apply) — but be sure to pay off the full transfer amount before the end of the 0% APR introductory period, and watch out for balance transfer fees.

Women are less confident about negotiating a pay raise

An interesting finding from the Laurel Road survey was that men were less happy with their salaries than women. In fact, 29% of men said they feel behind on their salary goals, while only 22% of women felt that way about their own paychecks.

But men felt more confident about their chances of getting a pay raise or promotion from their current employer: 66% of men said they were at least “somewhat” confident about climbing the career ladder, while only 54% of women felt that way about their own future career prospects.

This survey data reinforces some of the other trends we’ve seen in the workforce, where women sometimes struggle to negotiate — not because women are bad at negotiating, but because women sometimes face backlash from employers when they ask for more money or display ambition in the same ways that men do. This is part of the problem of gender discrimination and the gender pay gap. Women sometimes get criticized or face negative consequences for the same behavior that gets men praised as “confident” and “good leaders.”

If you want a pay raise in 2024, whether you’re a man or woman, keep in mind that unemployment is still quite low (3.9% as of February 2024), and many companies have shortages of talent. A recent Mercer survey found that employers are planning to promote about 10% of their total workforce in 2024.

Unless your company has recently announced layoffs or your industry is in a downturn, you might have plenty of power to demand a better salary or a promotion in 2024. Don’t assume that your employer has all the power. If you’re a strong performer and your career skills are in-demand, your company should want to keep you on the team.

Bottom line

The past few years of high inflation have been bad for many people’s bank accounts and credit card balances. It’s understandable that the Laurel Road survey found more women feeling behind on their personal finances compared to last year. But there is good potential for pay raises and promotions for U.S. workers this year. If the job market stays strong, if the economy gets better and the “vibecession” goes away, more women (and men) may have a prosperous 2024.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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A well-stocked liquor cabinet can be an entertaining must-have. Find out how to do it without breaking the bank. [[{“value”:”

While I’m not sure many of us are having formal cocktail parties these days, many friendly get-togethers can include a bit of imbibing. And though most folks I know are pretty flexible about their beverages, I always try to keep a well-stocked liquor cabinet so everyone can sip something they enjoy.

But boy, can that get pricey. There are just so many different types of liquors out there. Even if you keep just the “basics” around, you’re talking about:

VodkaGinRumTequilaWhiskyWineBeer

And that’s not considering all the varieties. Do you keep light rum or dark rum? White wine or red? IPAs or lagers? And what about all the mixers?!

You don’t need to break the bank to make everyone happy. If you’re looking to stock up the liquor cabinet for some spring and summer entertaining, here are a few ways to do it on a budget.

1. Buy lesser-known or store brands

There’s a fine line between paying more for better-quality liquor and paying more for a fancy bottle or well-known name. (If you’ve ever watched those blind taste test videos of supposed liquor experts, it’s eye-opening.)

Don’t be afraid to try out lesser-known brands, or even some store brands, that could offer good taste at a reasonable cost. This is especially true if you typically make mixed drinks where you may not necessarily notice top-shelf liquor anyway.

For example, if you’re going to mix your whisky with cola anyway, you probably don’t need an 18-year-old single malt. A tasty blended whisky would do just fine (and cost a fraction of the price).

2. Shop wholesale clubs

Speaking of store brands, I have to give a shout-out to everyone’s favorite wholesale clubs here. These places can be great when you’re stocking up on all the basics.

Costco has Kirkland Signature–branded liquors (and wines) that are considered pretty darn good in terms of quality — and excellent in terms of price. Sam’s Club’s Member’s Mark house brand is also known for having good quality in its line of liquors. Indeed, there are a ton of rumors that both clubs may get their liquor from the same distilleries as some very well-known brands.

3. Look for manufacturer coupons

As with pretty much any other product, liquor manufacturers often put out coupons for their products. Unlike other products, these coupons aren’t typically showing up in a flyer in the mail.

Instead, keep your eyes peeled while you’re browsing the liquor store. A lot of coupons will be hung around the neck of the eligible bottles. (Some liquor stores may also, or instead, display coupons on a board or display somewhere in the store. My local liquor store has a bulletin board full of coupons.)

You could also try visiting the manufacturer’s website. Some brands will offer coupons you can print out, especially around new product launches.

4. Use shopping portals and issuer offers

Although it can be hit-and-miss for liquor, you can find some excellent wine deals in most credit card issuer portals. For example, I have frequent deals for various online wine sellers in my Amex Offers portal. (Not for nothing, some of those sites also sell liquor, so it could work for both.)

While we’re talking about credit cards, I do want to point out that purchase rewards can also help cut the cost some. However, liquor stores won’t typically be included in any bonus categories (even ones attached to grocery stores tend to code separately), so you’ll need a good flat-rate card to make the most of these purchases.

5. Stock up during holiday sales

Some types of liquor will go on sale around certain holidays. For example, if you like Irish whisky, then a St. Patrick’s Day special could help you stock up for cheap. Similarly, Cinco de Mayo can be a great time to pick up tequila.

The winter holidays can also see a lot of great deals on liquor (both for gifts and for, you know, all that family togetherness). At the very least, you may find some good-value gift sets that include a larger bottle with a few smaller freebies, which can be a good way to try out new varieties.

Bonus tip: Fresh mixers can make the drink

Even if you’re stuck with less-quality liquor, you can make a great cocktail by paying extra attention to the quality of your mixers. Anything you can make fresh, you should make fresh. Freshly squeezed juices will always taste better than anything from a bottle or concentrate.

And don’t forget the garnish. Even a cheap cocktail somehow tastes better when it has a decorative umbrella, spiral of orange peel, and yummy maraschino cherry on top.

It doesn’t take a ton of money to keep your guests well lubricated. Try out these tips and see how much you can save on your next liquor run.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.American Express is an advertising partner of The Ascent, a Motley Fool company. Brittney Myers has positions in American Express. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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