Money Management

If you buy something at Costco that doesn’t meet your expectations, you’re not out of luck. Read on to learn more. [[{“value”:”

Costco has become my go-to store for all sorts of grocery items and household essentials. As such, I shop there on a weekly basis to stock up on cheese, sandwich meat, and other items my kids seem to consume in short order.

Another item we consume a lot of in my household is milk — usually to the tune of three or more gallons a week. And buying milk at Costco makes financial sense for a couple of reasons.

First, Costco milk tends to be a bit cheaper than the milk I find at my regular supermarket. But also, Costco milk tends to come with a better sell-by date than the milk I find at the grocery store.

Recently, though, I ran into an issue with milk I had purchased at Costco. But not shockingly, Costco did what it had to do to make things right.

When your milk goes bad and you don’t keep the evidence

Not long ago, I opened a gallon of Costco milk to find that it smelled sour and looked chunky. What was surprising was that it was a good number of days before the sell-by date printed on the carton.

I then proceeded to open a second gallon of Costco milk only to experience the same thing. So clearly, both cartons must’ve come from the same bad batch. (To be clear, no other food in my fridge had gone bad, so I knew the problem was the milk itself.)

Now the good thing about Costco is that it has a very customer-oriented return policy. In a nutshell, it will take back any item and issue you a full refund if something doesn’t meet your expectations.

Clearly, funky, chunky milk falls into the “not meeting expectations” category. But there was a problem. I didn’t want to hang onto two gallons of spoiled milk at home.

Not only were those cartons taking up space in my fridge, but I also didn’t want to somehow risk having one of my kids come home and grab some milk without realizing it was bad. I mean, you’d really have to be not paying attention to not notice those chunks and awful taste, but you never know.

So what I did instead was take a picture of the milk chunks in a glass, and then take a picture of the two gallons with the printed sell-by date. The next time I went to Costco, I showed those photos to customer service and explained what happened. I got my money back, no questions asked.

Don’t hesitate to take advantage of Costco’s return policy

You may have heard that abusing Costco’s return policy could cause your membership to get revoked. But you’d have to really push the limits of Costco’s generosity for that to happen.

Returning food that spoils prematurely is something you should never hesitate to do. And if it’s not safe or feasible to keep that rotten food around to bring back, use photographic evidence like I did.

Furthermore, your food doesn’t necessarily have to be spoiled for Costco to take it back without a problem. You can technically return grocery items on the basis of not liking how they taste.

That, however, is something you may want to do more sparingly. And if you’re going to return food on the basis of not enjoying it, make sure you’re returning the bulk of it. It’s not cool to bring back a cake that’s 75% eaten and claim it wasn’t good and you want your credit card refunded.

All told, Costco has one of the most generous and flexible return policies out there. So if you ever end up bringing home a grocery item that spoils from Costco, do not hesitate to get your money back.

Alert: our top-rated cash back card now has 0% intro APR until 2025

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.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.

“}]] Read More 

They say a home is likely the biggest purchase you’ll ever make. Find out some of the benefits of buying a great home rather than the perfect one. [[{“value”:”

I love my house. I love that it’s brick (I grew up in the land of earthquakes and never saw brick houses around as a kid). I love that it has all the character of an 85-year-old house with the modern comforts of a home that’s been carefully updated by its previous owners. And I love the neighborhood it’s in, with its tree-lined streets and walkable restaurants. But it’s not my dream home.

I could just as easily come up with a list of things that drive me nuts about the house, but then I remember why my husband and I bought it. Our intention from the beginning was never for this place to be our forever home, and we were able to lock in a mortgage that reflects that. Here are a few of the reasons why I’m glad we made that choice.

1. I can afford to spend elsewhere in my life

It makes me really happy that I can comfortably spend money in other areas rather than dropping the majority of my paycheck into my mortgage each month. Whether it’s travel, dining out, or treating myself to a massage, I know my budget can handle slightly higher expenses in other categories because my monthly housing costs are so manageable.

Home ownership expenses go beyond just a mortgage. They can include property taxes, home insurance, utilities, and maintenance and repairs. When determining how much house you can afford, it’s important to keep all of these line items in mind. The general advice is that your housing costs shouldn’t exceed 28% of your income.

Since my husband and I chose not to stretch our home-buying budget, we’re well within that 28% range, which means we have “extra” cash we can feel good about spending elsewhere. That’s not to say we drop it all on champagne wishes and caviar dreams each month. But it means we can treat ourselves to nice things without feeling guilty or stressed about how we’ll be able to afford it out of our personal finances.

2. I don’t know if I’ll move cities again

After college, I ran straight home to the Bay Area and assumed I’d never leave again. I thought no place could ever compete, so why live anywhere else? It took a lot for me to pack up and move away, but now that I have, I have a totally different mindset. I’m really happy living in Milwaukee (much more so than anyone ever assumes when they hear where I moved from) and I don’t have any plans to move away.

But that’s just the thing — I didn’t have plans to move before either. I’m much more open now to the idea that another city, another state, could offer a lot of great things that I don’t have access to now, and I want to be flexible enough to let that happen.

If we had splurged on a forever home, we could potentially feel stuck if we ever get the itch to move again. If we’d spent months or years searching for our perfect home, or dropped a ton of money on renovations to make it match our dream spot, it would be really hard to let go of when life comes calling.

3. My tastes in a home might change

I’m really pleased with the size of home and property we currently have. There aren’t a bunch of empty rooms to clean, and we have enough yard to do some gardening and enjoy a patio lunch in the sunshine without having all our weekend hours taken up by chores. But who’s to say this is the size house I’ll want in five years, or 10?

Maybe we’ll want to travel even more in the future, and it will feel wasteful to have this size home sitting empty while we’re away so much. Or maybe we’ll get absolutely sick of shoveling snow and raking leaves and will want to move to a townhome with no yard work required.

While I know what makes me happy right now, I also know that change is inevitable, and I can’t predict what I’ll want down the line. By not tying myself to a big mortgage payment and a home perfectly tailored to who I am now, I have the opportunity to find another home for my future self down the road, if that’s the way the dice roll.

Don’t worry about chasing the perfect home

As much as I used to love watching home renovation shows or scrolling dreamily through real estate listings, I’m really glad I didn’t try to land my forever home. While your house should be comfortable and bring you joy, it may not be worth trying to check every box on your dream list.

If you’re looking to buy a house, consider what features are most important to you and aim to find those, but be willing to compromise on some of the nice-to-haves. By letting go of your dream home, you just might be able to work toward your dream life instead.

Alert: our top-rated cash back card now has 0% intro APR until 2025

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 a disclosure policy.

“}]] Read More 

I am woman, hear me roar — about boosting your financial security. Keep reading for money tasks for March and beyond. [[{“value”:”

March is Women’s History Month, and as such, it’s a great time to reflect on your personal finances. A survey from Northwestern Mutual from last year found that just 51% of women feel confident or very confident about their finances — and only 43% feel financially secure. Does this describe you? Here are four ways to improve your financial picture this month and into the future.

1. Earn interest on your savings

Let’s start with an easy one. What’s the APY (annual percentage yield) on your savings account? If it’s anywhere close to the average (just 0.46%, according to the FDIC), you can do so much better right now. The APYs on our favorite high-yield savings accounts are more than 10 times higher, and opening a new savings account is a lot easier than you might think.

Online-only banks offer the best rates, and you can open an account in just a few minutes. Depending on how much you have in savings, earning 4.5% or 5% on your cash could represent a nice little windfall every month — and that means your savings grow even faster.

When the Federal Reserve cuts the federal funds rate (which is expected to happen later this year), savings account rates will most likely fall. So if you’re hoping to keep that APY longer and you have money saved that you won’t need for a while, consider certificates of deposit (CDs) as well.

2. Ask for a raise — or investigate your options

The gender pay gap is alive and well, but it has slightly narrowed — according to data from the U.S. Census, in 2024, women are earning an average of $0.84 for every dollar earned by men. That figure is lower for women of color, and the average falls to $0.78 when you include seasonal and part-time workers. This is not ideal, but there are ways you can advocate for yourself and improve your salary situation.

How long has it been since you got a raise in your current job? If your company doesn’t offer them regularly, ask for a meeting with your boss to state your case — and don’t forget to provide evidence of your worth in the process. If you saved your employer money, landed a new client, or went above and beyond in any way, highlight that.

And if your employer brushes you off, consider putting out feelers for a new work situation. I hate to say it, but you’re more likely to earn more by switching jobs than getting a raise at your current one. And if you’ve long been dissatisfied in your field, changing careers is also an option to consider working toward.

3. Become an investor — or up your contributions

Did you know that women are better investors than men are? Given how much investing content is created by and geared toward men, this may be surprising. But investing research from The Motley Fool found that we achieve higher returns, despite our lower numbers. In 2023, 68% of us were investing for retirement, compared to 77% of men.

Why are we better at investing? In short, we’re more conservative and less impulsive — so we take on less risk and tend to leave more of our money in investments with long track records of success. However, studies have shown that we are less confident in our investing abilities than men are.

So this Women’s History Month, make it a point to dig into investing, and especially doing so for your golden years. If you have an employer-sponsored retirement account, like a 401(k) plan, are you contributing enough to earn the full employer match? It’s worth putting at least that much in, because your employer’s addition is like free money for you.

And if you don’t have access to an employer account, there’s a rainbow of IRA options out there for you. The nice thing about an IRA is that you’ll have a much wider choice of investments than you generally get with an employer-sponsored account.

4. Get professional money guidance

If you don’t earn much, you might assume that you don’t need to talk to a financial advisor. But letting a neutral party take a peek at your money situation can offer you an eye-opening perspective. Financial advisors are perhaps best known for giving guidance about investments, but you can also learn about managing debt, creating a budget, and planning for tax obligations from them.

To find a good one, ask friends and family for recommendations, or take a peek at the National Association of Personal Financial Advisors. You can verify an advisor’s credentials for investment advice by plugging their name into the Financial Industry Regulatory Authority (FINRA) BrokerCheck database.

Women have made great strides toward financial equality in the last several decades, but there’s still plenty more work to do. So take the time this month to sit down and reflect on your money worries, as well as your money wins — and consider making the above moves to give yourself every advantage available.

Alert: our top-rated cash back card now has 0% intro APR until 2025

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 a disclosure policy.

“}]] Read More 

Being child-free often means having more money at your disposal. Read on for some ways you can maximize your investing strategy in that scenario. [[{“value”:”

Having children is hardly an inexpensive prospect. From extra food to sports to college, you might spend a massive amount of money raising kids, even if you do your best to make frugal choices.

As such, people who decide to adopt a child-free lifestyle often have more financial flexibility than those who are parents. And if that’s the situation you’re in, here are three investment opportunities you can take advantage of.

1. Maxing out an IRA or 401(k)

It’s hard to set money aside for retirement — or at least a lot of it — when you have constant child-related expenses to cover. So if you don’t have kids, you may be in a good place to max out your IRA or 401(k) this year.

If you’re under the age of 50, you can put up to $23,000 into a 401(k) plan or up to $7,000 into an IRA in 2024. If you’re 50 or older, these limits increase to $30,500 and $8,000, respectively.

No matter what type of IRA or 401(k) you fund, you get tax benefits. With a traditional IRA or 401(k), your contributions are tax-free and investment gains are tax-deferred (meaning you’re not taxed year after year, but only as you take withdrawals).

With a Roth IRA or 401(k), there’s no tax break on contributions, but investment gains and withdrawals are tax-free. Keep funding your account, and you may find that you’re able to retire early with a large pile of money.

In fact, let’s say you contribute $1,500 a month to a 401(k) over 30 years (not quite maxing out, but close). If your portfolio generates an average annual 10% return, which is in line with the stock market’s average, you’ll end up with almost $3 million.

2. Buying real estate

Real estate can be a great investment for a couple of reasons. Not only can property values grow over time, but you can rent out properties for regular income.

As a parent, you may not have the time to oversee rental properties — especially if you have a full-time job. But if you don’t have kids monopolizing your time, you might be able to swing the duties of a landlord, allowing you to profit from your rental income without losing a chunk of that money to property manager fees.

3. Funding an HSA and leaving your balance untapped

If you’re enrolled in a high-deductible health insurance plan, you may be eligible to contribute to an HSA. Like with traditional IRAs and 401(k) plans, HSA contributions go in tax-free. You can also invest HSA funds you don’t need right away and enjoy tax-free gains. Withdrawals in these accounts are also tax-free, as long as that money is spent on qualifying medical expenses.

When you have kids, you may be more likely to incur medical costs, forcing you to take HSA withdrawals to cover those expenses. If you’re child-free, your medical bills may not be as high. In that case, it may be possible to cover your healthcare expenses out of your paycheck and leave your HSA untouched so your money can grow tax-free for many years.

Another nice thing about HSAs is that once you turn 65, you won’t face penalties for non-medical withdrawals. So if you end up with a huge HSA balance come retirement and you don’t need all of it for healthcare expenses, you can use some, or even all, of that money for any purpose that pleases you.

Raising children can be a rewarding experience, but it’s not for everyone. If you’ve opted out of having kids, you may be able to afford a lot of things that parents just can’t swing. And so it definitely pays to take advantage of the opportunity to invest your money and accumulate a lot of wealth.

Alert: our top-rated cash back card now has 0% intro APR until 2025

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 a disclosure policy.

“}]] Read More