Money Management

This Costco fan thinks the store could stand to make a few changes. Check out the ones she’s hoping for most. [[{“value”:”

Being a Costco member has long been a financially sound decision for me. What I spend yearly on a membership, I more than make up for in the form of savings on groceries, household essentials, and sometimes, larger purchases.

For the most part, I enjoy shopping at Costco. It’s fun to roam the aisles, check out new products, and perhaps grab some tasty samples when my stomach starts to rumble. But as a long-time Costco shopper, I’d also love to see the following changes arrive.

1. Bringing back early shopping hours for Executive members

I’ve been an Executive member at Costco for years. While my annual cost is double what basic members pay ($120 versus $60), I get the benefit of 2% cash back on my Costco purchases.

Back in the day, Executive members used to have the additional benefit of being able to enter the store earlier than basic members. Costco did away with that perk years ago. But man, I would love to see that one come back.

While I enjoy shopping at Costco, one thing I do not enjoy is battling crowds. And at Costco, you’ll often find plenty of them, even if you go to the store at off-peak hours. That said, I’ve found that the store tends to be emptiest when it first opens, so if you hate crowds, too, you may want to show up early.

2. Allowing customers to call in bakery orders or place them online

Costco’s sheet cakes are a great deal. For just $24.99, you get a massive cake that’s large enough to feed a crowd. And Costco will even customize your cake with a message and design.

But the system for ordering Costco sheet cakes is a bit archaic. You can’t place an order online or call it in over the phone. Instead, you have to go to Costco, find the bakery dropbox, write down your order on a piece of paper, and put it in the box at least 48 hours ahead of when you want to pick up your cake.

There have been times when I’ve needed a sheet cake and had to make a special trip to Costco just to place the order itself. Allowing customers to call in orders or place them online would be far more convenient.

3. Adding one healthy menu item to the food court

As someone who has purchased a massive Costco cheesecake on a whim — and on more than one occasion, at that — I’m not exactly what you’d call a health nut. Still, it would be nice if Costco could add just one healthy item to its food court menu.

There are times when shopping at Costco causes me to work up an appetite. But I tend to shop at Costco in the middle of the day during the week. And at that time, a slice of greasy pizza is only going to slow me down for the afternoon.

I’m not saying Costco needs to start selling a kale bowl with broccoli, spinach, and carrots. But some type of salad would be nice. And if not a salad, maybe a nice vegetarian burrito with actual vegetables in it?

To be clear, this list of changes is one I’ve concocted based on my personal Costco experience. Costco has not announced plans to implement any of these. That said, of all of the changes above, I think the one that’s most likely to come to be is the second one.

Clearly, Costco had its reasons for doing away with early shopping hours for Executive members. And I don’t see salad becoming a food court staple anytime soon. But I know that a lot of customers find the cake-ordering process to be really cumbersome and inconvenient. So I could see Costco eventually taking that to heart, given that the chain has long affirmed its commitment to customer satisfaction.

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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.Maurie Backman 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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Secure your child’s financial future today. Learn how setting up these three key accounts early could pave their way to millionaire status. [[{“value”:”

Navigating today’s financial landscape, you might think setting up your kids for a wealthy future is a pipe dream reserved for the rich and famous. But what if I told you that turning your child into a millionaire is within reach, and no, you don’t need to start with a fortune?

It all boils down to smart planning and knowing where to put your money from the get-go. By opening these accounts for your kids early on, you’re not just saving for their financial future, but potentially unlocking the door to millionaire status. So, let’s dive into the types of accounts that can make a huge difference.

1. Custodial Roth IRA

One of the best places to invest your child’s earnings is in a custodial Roth IRA. This type of brokerage account is perfect for long-term savings, especially for kids with earned income. The beauty of a Roth IRA lies in its tax structure. Contributions are made with after-tax dollars, but the account’s growth and withdrawals are tax free under current laws.

Let’s crunch some numbers: if you contribute the 2023 maximum of $6,500 yearly to your child’s Roth IRA, assuming a 7% annual return, this could grow to about $221,000 by their 18th birthday. Leave that untouched until they retire, and they could be looking at around $5 million. Plus, they can use $10,000 of it penalty free for their first home purchase. It’s an incredible way to leverage compound interest from a young age.

2. UTMA account

A Uniform Transfers to Minors Act (UTMA) account is another fantastic tool. This account type allows you to gift your child financial assets, like cash, real estate, or even fine art, without needing a guardian or trustee. A UTMA account offers tax advantages — the first $1,250 of unearned income is tax free and the next $1,250 is taxed at the child’s lower rate.

If you contribute a part of the remaining income, say $1,000 annually, into a UTMA account with an assumed 7% growth rate, you could see this investment grow to about $34,000 by the time your child is 18. If allowed to mature, it could surpass $800,000 by retirement. It’s an excellent way to diversify your child’s investment portfolio from an early age.

3. 529 college savings plan

In addition to the custodial Roth IRA and UTMA account, a 529 college savings plan is essential to consider setting up for your child at birth. This account can help you save for your child’s future education expenses, including tuition, room and board, and even books and supplies, at any accredited college, university, or vocational school.

The best part of a 529 plan is its tax advantages; all of your contributions grow tax free. Plus, withdrawals used for qualified education expenses are not taxed. Depending on which state you live in, you might even get tax deductions or credits for 529 contributions, so there’s even more of a financial incentive.

Let’s explore the advantages:

Tax benefits: The primary draw of a 529 college savings plan is the tax-free growth and withdrawals, provided funds are used for qualified education expenses. This feature allows your investments to grow more efficiently over time.High contribution limits: 529 plans have high contribution limits, often over $300,000 per beneficiary, allowing for substantial savings potential.Flexibility: If your child decides not to go to college, you can change the beneficiary to another family member without penalty. Plus, with the expansion of qualified education expenses, 529 plans can now be used for K-12 tuition and apprenticeship programs.State incentives: Many states offer tax deductions or credits for contributions, potentially lowering your state tax bill.

Starting early with a 529 plan allows your contributions to compound over time, significantly reducing the burden of higher education expenses. While it’s hard to predict whether your child will attend college or pursue another path, the 529 plan’s flexibility and tax advantages make it a wise choice for saving for their future.

By employing these strategies, you’re doing much more than saving money for your child; you’re setting them on a path to financial independence and, potentially, millionaire status. The journey to securing your child’s financial future begins with these steps, and the earlier you start, the better their prospects.

It’s always a good idea to consult with a financial advisor or tax professional. They can offer personalized advice to ensure these strategies are optimally tailored to your and your child’s specific circumstances.

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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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This writer won’t consider cutting ties with Costco. Read on to see why. [[{“value”:”

Some people join Costco thinking they’ll try it out for a few months or a year and see how things go. That was my attitude years ago when I first became a Costco member myself.

But at this point, I can’t imagine cutting ties with Costco. Here’s why I won’t even think about getting rid of my membership.

1. Buying groceries in bulk saves me much-needed time

As a busy mom with a full-time job, I don’t have time to shop for groceries three or four times a week. And thanks to Costco, I don’t have to.

When I go to Costco, I can pick up about a week’s worth of produce and other refrigerator staples so I’m not constantly having to return to the store. As a freelance writer, that’s huge, because the more time I have to work, the more I can earn. So buying in bulk at Costco actually helps me earn more by saving me time.

2. Costco’s bakery is my family’s favorite bakery in town

In my area, there’s a host of different bakeries to choose from. But my husband, kids, and I all agree that Costco’s bakery is far superior to the other options we’re privy to.

Now, part of that boils down to getting value for your money. I can get a decent muffin at a bakery about five minutes from my house, but there, I’m paying $4 for a single average-sized muffin. At Costco, I pay $9.99 for 12 giant-sized muffins that my kids and I split, since half of a Costco muffin is usually more than enough as a serving.

Also, we just really love our Costco muffins — the taste, flavor, and consistency (they’re super fluffy, whereas other muffins I’ve had were far more dense). And Costco also happens to make a pretty good apple pie, which is a staple at our Thanksgiving table. So all told, we love the bakery for both the prices and the actual items it sells.

3. My membership saves me much more than it costs

I pay $120 a year for an Executive membership at Costco, which is twice the cost of a basic membership. But because I save well more than $120 a year, I feel like I’m not actually paying to join.

First of all, my membership gives me 2% cash back on my Costco purchases. Since I spend about $100 a week at the store, that’s $5,000 a year, so I get $100 of that back off the bat.

But on top of the cash back from my Executive membership, by my estimates, I’m saving $20 a week on the cost of groceries and things like cleaning supplies and paper towels compared to what I’d spend at a regular supermarket. So when you think about it that way, I’m getting $100 cash back plus saving another $1,000 per year on top of that due to Costco’s low prices. All told, keeping my membership is a financial no-brainer.

Should you get a Costco membership?

An impressive 73 million people now have Costco memberships. That doesn’t automatically mean you should sign up for one. But it does pay to tag along with a friend who’s a member, check out the store’s prices and inventory, and try to calculate how much money you might save per week or month by shopping there. You may find that it’s worth springing for a membership and giving Costco a try.

And remember, the nice thing about getting a Costco membership is that you can cancel and get refunded at any time. So if you join and find that you’re not saving as much as expected, there’s really no financial risk.

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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.Maurie Backman 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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Dive into Costco’s best deals for parents. Save big on toys, trips, and essentials. Read on for unbeatable savings and family fun. [[{“value”:”

Navigating Costco’s aisles can be an adventure in itself, especially for parents who are always on the lookout for the best deals to manage their budgets. After all, parents spend an average of $310,605 raising a child in the U.S. It’s like a treasure hunt, but instead of gold, you’re after savings on bulk diapers and the holy grail of snack packs that won’t make your kids cringe.

Here, we’ve done some of the legwork for you. We’re diving deep into the heart of Costco deals, unearthing the top five that are simply too good for parents to pass up. From the essential to the unexpected, these finds promise to make your next shopping trip a little easier on the wallet — and who doesn’t love the sound of that?

1.Wooden farmer’s market set

This Wooden Farmer’s Market & Accessories set from Costco, priced at $59.99, isn’t just a toy. It’s an investment in your child’s imaginative play and learning. At first glance, the price might seem a bit much, but when you factor in the endless hours of entertainment and educational value it provides, it becomes an absolute bargain.

Crafted from durable wood, this set promises years of engaging play, eliminating the need for frequent replacements. It’s a fantastic tool for teaching kids about food, money management, and social skills through the roles of shopkeeper and customer.

2. Baby wipes

Alright, let’s talk about something every parent needs but probably wishes they didn’t: baby wipes. Costco’s got you covered with the Kirkland Signature Scented Baby Wipes, and we’re talking a whopping 900-count pack for just $0.02 a wipe. Yes, you heard that right. For what amounts to pocket change, you’re getting a mountain of wipes that’ll probably last you longer than your kiddo’s interest in their current favorite toy.

Not only are these wipes easy on the wallet, but they’re also gentle on your baby’s skin and scented just right to avoid any overpowering smells. Plus, let’s be real: these aren’t just for babies. They’re perfect for quick clean-ups, sticky hands, or even a makeshift makeup remover in a pinch.

3. Disney World trip

Let’s face it: kids want to go to Disney. But it costs a pretty penny. Luckily, Costco has a deal for that, too. If you’re eyeing a magical getaway to Disney World, here’s a deal at the Omni Orlando Resort at ChampionsGate that’s too sweet to pass up. Book four nights, but you’re only paying for three — yeah, that fourth night is on the house. And there’s more; Costco is throwing in a $100 resort credit for you to splurge on whatever catches your fancy.

Thinking about a room upgrade? Done. From Deluxe to Premier, no extra charge. And those kiddos? They eat free breakfast at Trevi’s Restaurant. Plus, your car stays for free with daily self-parking, and you’ll receive a special welcome amenity. Oh, and for a touch of relaxation, snag a 15% discount at Mokara Spa. All this with 5-day Disney Park Hopper tickets included. Sounds like a deal made in vacation heaven, right?

4. Popcorn snacks

Got snackers at home? Check out Costco’s deal on Skinny Pop Popcorn: 28 bags for just $0.64 each. This isn’t just any popcorn — it’s a parent’s dream come true for healthy snacking. Each 0.65 oz bag is perfectly portioned to curb those hunger pangs without the guilt, making it an ideal choice for lunchboxes or after-school snacks.

It’s gluten-free, non-GMO, and contains no artificial ingredients, which means you’re offering a snack that’s as good for your kids as it tastes. Plus, at this price, you’re getting both value and convenience, keeping both wallets and tummies happy. Of course, this is just an example of the many snacks Costco has that are budget friendly.

5. Backyard playset

Want to turn your backyard into the ultimate kid paradise? Costco’s slashing $400 off the Gorilla Playsets Adventure Wave Playset. It’s basically every kid’s dream — with swings, a slide, and a climbing wall, your backyard’s about to become the go-to spot for fun.

Think of the endless hours of joy, the giggles, and the adventures waiting right outside your door. Whether you’re up for a weekend DIY project or you’d rather have someone else handle the setup, this deal is your ticket to becoming the parent of the year. Plus, snagging a playset with a discount like that? That’s what we call winning at parenting.

From sparking joy and creativity in your little ones with a wooden farmer’s market set to ensuring the fun never ends in your own backyard with a discounted playset, these deals are designed to enhance your family life without draining your checking account. So, next time you’re at Costco, maybe give these deals a closer look. Your wallet — and your kids — will thank you.

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This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Click here to read our full review for free and apply in just 2 minutes.

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 positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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