Money Management

There are always deals to be had at Costco. See what deals you can find this spring. [[{“value”:”

Sure, Costco’s regular prices are often a bargain already. But when you can grab that item you needed from Costco while it’s also on sale? That’s the real score.

Happily, it’s not that hard to catch a good deal at Costco. Consider these cool spring deals you can find at Costco right now. (Deals are good through the end of the month, March 31, 2024.)

1. CedarCraft Self-watering Planter | $40 off

Depending on where you live, it could be starting to look a lot like growing season out there. So it’s the perfect time to add a little something to your spring garden — like a new planter. This 21″x47″x32″ raised planter is made of cedar boards and held aloft by coated aluminum legs. It includes a 6-gallon self-watering system and lockable wheels.

Sale price: $179.99

2. Winix True HEPA 4 Stage Air Purifier | $30 off

For some unlucky folks, the warmer weather is also the herald of outdoor allergy season. While Kirkland Signature allergy medications are an affordable way to deal with the worst symptoms outside, you may want a more hands-on solution for inside. This Winix air purifier offers four-stage HEPA filtration and is wifi-enabled for app control. The bundle includes an extra filter.

Sale price: $99.99

3. FoodSaver Vacuum Sealing System | $25 off

Vacuum sealing is an excellent way to store all kinds of things, from garden produce to bulky winter sweaters. While this one isn’t so great for the latter, the FoodSaver is popular for food storage of all kinds. This kit from Costco includes the handheld sealer and hose, as well as a roll of bags to get you started. If you don’t want to reload on brand-name bags, you can also check out the Kirkland Signature vacuum sealing bags (also on sale right now).

Sale price: $74.99

4. CyberPower UPS Battery Backup | $25 off

For some folks, spring means rain and storms. If the flash-and-flicker of outages is causing you to lose work — or just wifi signal — consider a battery backup. This CyberPower 1500VA/900-Watt Simulated Sine Wave UPS Battery Backup can keep your computer running when the power goes out. (I also have one on my fish tank heaters/filters for winter storms.) The device offers 10 outlets, plus USB A, USB C, and network ports.

Sale price: $124.99

5. Dash Multi-Plate Mini Waffle Maker | $6 off

Waffles are an excellent way to celebrate pretty much anything, including the arrival of spring. And this is particularly true of the spring-themed waffles you can make with this Dash Multi-Plate Mini Waffle Maker. Not only do you get the mini machine and a simple round waffle plate, but it also includes several designs perfect for the season: a bunny, a shamrock, a heart, a sunflower, and a bumblebee.

Sale price: $23.99

Year-round deals: Gift cards

Any time I’m at Costco, I make a point to swing by the gift card rack to see what kind of deals I can find. The selection can vary, but it’s always full of great discounts. You can also do the same thing online at Costco.com, where you can find lots of e-gift cards selling for below face value.

Deals cover everything from restaurants to sporting events. Here are a few stand-outs right now:

$100 California Pizza Kitchen e-gift card for just $69.99 (30% off)$100 Instacart e-gift card for just $79.99 (20% off)$100 TGI Fridays e-gift card (4x$25) for just $79.99 (20% off)$50 Nintendo eShop gift card for just $44.99 (10% off)

These are just a handful of the discounted gift cards you can find at Costco. Indeed, some of these deals are so good I’d argue you could justify the membership through gift cards alone.

Of course, it’s not down to just gift cards. From year-round discounts to seasonal deals, there are a lot of ways a Costco membership can work for your budget.

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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.Brittney Myers has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool recommends Maker. The Motley Fool has a disclosure policy.

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Not every personal finance guru has your best interests at heart. Watch out for this arrogant, condescending, scolding, annoying financial advice. [[{“value”:”

It seems like everyone’s a personal finance advice guru nowadays! Whether it’s on YouTube, TikTok, old-fashioned blogs, or shows on Netflix (How to Get Rich with Ramit Sethi is a good one), lots of people are sharing their vision for how you should spend, save, and invest.

It’s good to get inspired about buying stocks, paying off debt, and managing money. But some personal finance gurus really grind my gears, because they sound arrogant and out of touch. They badger people with impractical, scolding, risky advice that doesn’t match the reality of most people’s lives.

Here’s some of the most annoying advice I’ve seen from personal finance gurus — and why I disagree with their approach.

1. “All debt is bad. Pay off all debt as fast as possible.”

Debt is not a moral failing, it’s a financial tool. Debt can be bad if you can’t afford it. If you are falling behind on your payments or if your debt is snowballing into an ever-bigger and deeper pile that you can never pay off, then yes — those debts are “bad.” Sometimes if you have too much high-interest debt, declaring bankruptcy becomes your best option.

But most people can actually afford their debts. Most people are not delinquent on their credit cards. Most people find that buying a safe, reliable car with an auto loan is a better fit for their monthly income than having to pay in cash or get by with an old clunker. Most people use mortgages to buy a home, and paying off that debt over 30 years is a reasonable, fair decision based on their income and goals.

Here’s what debt really is: debt is a way to “buy time.” You are buying the ability to pay for the things you need in life right now (a home, a functioning vehicle, a new refrigerator) over the longer-term future of your adult working years. You are borrowing from your “future self” so that your “present-day self” can have a better life today. And often, for many people that’s OK! Your “future self” might be totally happy to give you that money!

Even some “bad debt” can be good in the short term. Sometimes you need to put emergency expenses on your credit card. Several years ago, when my children were small and we were living on one income, our car broke down and we didn’t have cash to pay for it. So we put $3,500 on our credit card, and ended up paying a few hundred dollars of interest.

Does that make me a bad person and a failure as a parent? Should I have been forced to surrender my car to the authorities and turn myself in to debtors’ prison? No! Using my credit card, even though I couldn’t afford to pay it off immediately, was not a moral failure — it was just a way to buy myself some time.

Over the next 12 months, I paid off that debt. And over the next few years, I went on to make a lot more money, and I’ve never had credit card debt again. My “future self” is happy with that deal.

2. “You could be a millionaire if you’d just stop buying coffee.”

Personal finance gurus need to stop shaming people for spending money. Sometimes you need to spend some money to take a trip, improve your home, and make your life better. Buying that daily $7 cappuccino is part of enjoying life.

Extreme frugality makes you devalue your time. “Time is money,” right? When frugality goes too far, you end up effectively paying yourself a low hourly wage to do things that you could have just spent money to solve.

Don’t spend five hours shopping around to save $20 on a purchase, or spend the whole weekend struggling to install a ceiling fan that you could’ve paid an electrician $300 to do right the first time. I once read about a personal finance guru who uses a mechanic’s vise to squeeze every last drop of juice out of limes. Is this how you want to spend your one and only precious life?

If you’re handy with tools and you love home improvement projects, that’s great! But lots of people should “buy time” by spending money on things that they don’t have the skills, physical energy, or mental bandwidth to do for themselves.

3. “Buy these stocks and you’ll beat the market and be rich!”

I don’t buy individual stocks myself, and I don’t trust gurus who encourage other people to bet on individual stocks. The S&P 500 index has delivered average annual returns of 10.7% per year for the past 30 years. Very few investors can beat the stock market consistently over time. Warren Buffett is one; Motley Fool Stock Advisor is another. (And past performance is no guarantee of future results.)

Instead of trying to pick stocks, most people will be better off working hard at their jobs, trying to get pay raises and promotions to raise their income, and buying lots of stocks with diversified portfolios of low-cost index funds. Hands-off (“passive”) investing in index funds can build wealth for you faster than most stock-picking gurus ever will.

Bottom line

I want people to feel better about their money. Being well-informed and frugal can be good, and it’s important to save for the future. But people also need to give themselves a break and have fun with their money. Don’t let some rich guy shame you for buying coffee or using a credit card. Keep buying stocks and investing for the future when you can, but don’t feel bad about spending money or “buying time” at the moments in life when you need it most.

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

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The Child Tax Credit is a valuable tax break. Read on to see why you may not be able to claim it this year, even if you did so last year. [[{“value”:”

The fact that the U.S. tax code makes different credits available to filers is a good thing. That’s because claiming tax credits can result in a world of savings.

A tax credit is a dollar-for-dollar reduction of your tax liability. It’s different from a tax deduction, which only exempts some of your income from taxes.

To illustrate the difference, a $1,000 tax credit will directly shave $1,000 off of your IRS bill. A $1,000 tax credit will make it so you’re not paying taxes on $1,000 of earnings, but your savings will hinge on your tax bracket. If you’re in the 24% bracket, you save $240. But if you’re in the 22% bracket, you only save $220. And you don’t save the full $1,000 either way.

With that in mind, one of the most valuable tax credits available to filers today is the Child Tax Credit. The credit, which is partially refundable, is worth up to $2,000 per qualifying child in your household.

You may have recently finished filing your 2023 taxes and claimed the Child Tax Credit on your return. But just because you were able to do so last year doesn’t mean you’ll be able to claim the credit on your 2024 taxes.

When your child ages out

The Child Tax Credit applies to children in your household under the age of 17. If you have a child you claimed the credit for last year who’s turning 17 this year, unfortunately, you may have to kiss that $2,000 goodbye.

When your income rises

You might also lose the Child Tax Credit if your income rises substantially in 2024 compared to 2023. The credit is yours to claim in full if your income doesn’t exceed $200,000 as a single tax filer or $400,000 as a couple filing jointly. Beyond that, you lose $50 from the credit per $1,000 of earnings.

So let’s say you’re single and earned $200,000 last year, but this year, thanks to a giant promotion and raise, your income increases to $240,000. That extra $40,000, though a good thing in theory, whittles your credit down to $0.

How to compensate for the loss of the Child Tax Credit

Losing a valuable tax break like the Child Tax Credit can constitute a harsh blow. But there may be some steps you can take to make up for it and eke out more tax savings.

One thing you can do is try to put more money into a traditional IRA or 401(k), which will shield additional income from taxes. If you qualify for an HSA, increasing your contributions there could have the same effect.

Also, if you itemize your tax return, increasing your charitable contributions could result in a lower IRS bill. Plus, that way, you get to do something you can feel good about.

Even if you normally use tax software to file your return, you may also want to talk to a tax professional and ask for advice on ways to make up for losing the Child Tax Credit. They might have some creative but legal ideas to improve your tax situation.

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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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Do you need to pay more for pet food? Dive into why pricey doesn’t mean better and see how pet insurance may ease your budget. [[{“value”:”

Navigating the jungle of pet food options can feel like being on a never-ending game show titled Guess What Your Furry Friend Actually Needs! With a dizzying array of premium kibbles, gourmet canned foods, and all-natural treats vying for your attention (and wallet), the quest to feed your pet becomes less about nutrition and more about surviving marketing mayhem.

Before you pledge your loyalty (and savings) to the fanciest bag on the shelf, promising eternal youth and boundless energy for Fido or Whiskers, let’s pause for a reality check. It turns out that the secret to your pet’s health doesn’t necessarily lie in the priciest option or the one with the most exotic ingredients (kangaroo and quinoa, anyone?). Here’s what you should know before buying expensive pet food.

The biggest concerns for pet owners

Navigating the complexities of pet ownership extends far beyond the pet food aisle, with nutrition being just one of the myriad concerns that pet owners face.

Understanding pet food ingredients

Diving into the world of pet food can feel like embarking on a quest. The first clue on this adventure? The ingredient list. Now, you might think shelling out more cash guarantees better quality, but it’s not that straightforward.

Sure, some high-end brands pack their products with top-notch, natural goodies. However, this isn’t a universal truth. The real deal is understanding what your furry friend truly needs: proteins, fats, carbs, vitamins, and minerals. These are the building blocks of a nutritious diet. The goal? To hunt down a food that ticks all the nutritional boxes without making your wallet weep.

The marketing behind gourmet labels

Ever noticed how some pet foods are dressed up in fancy labels, making them irresistible? That’s the magic of marketing at work, casting a spell that sometimes overshadows the real nutritional value. Buzzwords like “grain-free” and “all-natural” might catch your eye, but they can be smoke and mirrors if you’re not up to speed on what your pet actually needs.

This is where a good old chat with your vet comes in handy. They’ll help you cut through the jargon, making sure your pet’s diet is not just a passing fad but truly beneficial for their health.

Tips for pet owners

OK, so we know what you’re worried about when it comes to your pet. But what should you do to ensure your furry friend is getting the care they need without making you bankrupt? Here are some tips.

Do your research

Rolling up your sleeves and diving into research is more than a good idea — it’s essential. The digital era has blessed us with the ability to scour through unbiased reviews, dive into nutritional studies, and soak up firsthand product testimonials with just a few clicks on sites like Chewy and Dog Food Advisor.

But why stop there? Getting in touch with pet food makers for the nitty-gritty on their products can shine a light on what’s really going into your pet’s bowl and whether it’s the right pick for them.

Check your pet insurance policy

In this sea of information, don’t overlook a potentially life-saving lifeboat: pet insurance. Investing in a robust pet insurance policy isn’t just about peace of mind but financial smarts. Policies offered by the top pet insurers may cover a chunk of the costs for those special diets or treatments your furry friend might need without warning.

Imagine having up to 70% of these expenses covered, saving you a tidy sum each year. It’s a move that savvy pet owners are making to ensure they can provide top-notch care without the financial sting.

Consult your veterinarian

Yes, there are lots of fancy pet foods promising your pet will live forever. But it might not be what’s best for you four-legged pal. Consulting with your vet becomes crucial here, ensuring that your choice of food is actually meeting your pet’s dietary needs.

Quality over price

When it comes down to it, deciding on your pet’s diet should pivot on quality, nutritional value, and how well it suits your pet’s unique profile — not just how much it costs. And since the typical dog owner spends over $1,100 per year feeding their pet (and more than $1,400 for a vegan diet), making the right decision can have a big impact on your budget.

Armed with knowledge, professional advice, and perhaps the backup of pet insurance, you’re set to make informed decisions in the pet food aisle. The mission? To fill your pet’s bowl with meals that nurture a long, joyful life without placing unnecessary strain on your personal finances. After all, the most precious thing you can offer your pet is your love and attentive care.

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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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The top 20% of earners have incomes of $153,001 or more, but the top 5% have even higher earnings to report. Learn more here. [[{“value”:”

Wondering what you’d need to make to be among the top earners in the country? Data from the U.S. Census shows that the richest Americans make almost 10 times what the poorest do.

But just how much income are the wealthiest Americans seeing deposited into their bank accounts each year? Here’s what you need to know.

This is how much the richest Americans are earning

According to the information from the Census, in 2022, households in the highest quintile had an income of $153,001 or above. The Census divided Americans into five groups, with these higher earners accounting for 20% of U.S. households. By contrast, households in the lowest quintile had incomes of just $30,000 or less.

While $153,001 or more is a lot of money, the numbers get even more impressive when you look at just the very top earners. In fact, the top 5% of households in the country earned $295,001 or more in 2022. That’s at least $24,583.33 per month — which means some of the wealthiest households bring home more cash every single month than many people do all year long.

The earners in this top 5% have a 23.5% share of aggregate income, so they’re taking home close to a quarter of all of the money earned by everyone. And combined, all of the workers in the highest quintile — including this top 5% — receive 52.1% of all of the income going to households across America.

Do you have to be among the top earners to get rich?

Earning an annual income of $153,001 or more gives you a definite edge in becoming wealthy compared with your peers who earn less. And if you manage to get into that top 5%, you should have quite a bit of money to sock away in your savings account or deposit into investment accounts — even if you are living pretty lavishly.

After all, the higher your income, the more money there is to go around. You won’t need to spend nearly as large of a percentage of your income covering necessities if your earnings are among the top highest in the country compared with those in the bottom quintile.

But, the good news is, even if you are far outside of the top 5% or even the top 20%, you can still make the most of your personal income to build your net worth and get rich. That’s because it’s what you do with your money that counts.

If you want to make your earnings, aim to make these personal finance moves:

Keep fixed expenses (like housing and car payments) to 50% of your income or less, so you have plenty left over. It’s easier to keep these fixed expenses to a reasonable level, since you’re making the decision just once to buy a cheaper house or car, compared with trying to cut discretionary spending over and over for years.Try to cap discretionary spending at 30% of your income. This is money for everything not considered a fixed expense, like entertainment and clothing. You want to be able to enjoy your money, so there’s nothing wrong with spending on these items — as long as you aren’t spending above your means.Save 20% of your income. This should be going to retirement and shorter-term goals like buying a house, if you desire to do so.

If you take these steps, you stand a higher chance of becoming rich, even if your earnings aren’t among the highest of any household in the country.

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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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