Money Management

You can earn valuable rewards when you use rewards credit cards for everyday purchases. Here are a few ways to get more value from them this year. [[{“value”:”

Many people use credit cards to pay for everyday purchases. Instead of using any credit card, using a rewards credit card specifically is an excellent way to get rewarded for your spending. If you’re using these cards and need to decide how to use your credit card rewards, you’re in the right place. I’ll share a few tips to help you get the most out of your credit card rewards in 2024.

1. Keep track of your rewards

If you have multiple rewards credit cards in your wallet, make sure you track your rewards for each card. Knowing how many rewards you’ve earned from each card and your redemption options for each can help you better strategize how to get more value from your rewards. One easy and free way to keep track of your credit card rewards is to use Google Sheets to create a spreadsheet.

2. Get multiple cards from the same card issuer

Having more than one card from the same issuer can be beneficial. Why? By sticking to one credit card rewards program, you can get more from your rewards. You may reach your redemption goals sooner. Plus, some credit card issuers provide different redemption rates for each card. Some cardholders may get more value from their rewards by transferring them to the card that offers the best redemption value.

3. Avoid cash back or statement credit redemptions

Many rewards credit cards allow cardholders to redeem rewards for a statement credit to their credit card account. This may seem like a great way to use your rewards because it’s like earning cash back. But this may not be the most valuable redemption option if you have a rewards credit card with flexible redemption options.

For example, some travel credit cards allow cardholders to transfer rewards to select travel transfer partners. If this redemption is available, you may get more value from your rewards by transferring them to a hotel or airline rewards program instead. You can then use your rewards to book a flight or hotel room, making a future vacation more affordable.

Here’s an example: You have 100,000 points worth $1,000 in statement credit. But you could instead use your 100,000 points to book a round-trip business-class flight to Japan. If the cash price of that journey costs well over $1,000, consider redeeming your points for this flight instead of getting a statement credit. Doing this will result in you getting more value.

4. Don’t miss out on the chance to earn rewards

Make sure you make strategic decisions to earn as many rewards as possible. Paying for everything you can afford with a rewards credit card could help you boost your rewards faster. The more rewards you earn, the more options you’ll have when redeeming them. Be careful to only charge what you can afford to avoid credit card debt.

It’s also important to be strategic about which credit card you use. One example is using a dining rewards card to pay for dinner with friends. If you have a credit card that earns 3 points per $1 on dining purchases, you won’t want to pay for dinner with a 1% cash back credit card.

Make strategic moves to get more from your rewards

Credit card rewards can be a great tool to include in your personal finance strategy. But make sure you’re making choices that allow you to maximize the rewards you earn and get more value from your redemptions. The above tips could help you get more from your credit card rewards. Check out our list of the best rewards credit cards to find your next card.

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.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.

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Do you overspend at the grocery store? Changing a few shopping habits could help you save. See one change you can make to save money and reduce food waste. [[{“value”:”

Like many shoppers, I’m not a fan of the prices I’ve been paying for groceries. As everyday costs continue rising, food costs have become more expensive. Sticking to your budget as you load your grocery cart with food and other essentials can be stressful.

While there’s little I can do about high food costs, I recently discovered a solution that has helped me reduce my food waste and save money. I’ll share a shopping tip that could help you keep more money in the bank.

Plan smaller trips to the grocery store

I don’t know about you, but I get overwhelmed when I spend a lot of time at the grocery store. Planning a trip to the store is an ordeal. The aisles can be crowded, and long checkout lines can lead to more overwhelm. I’ve made this task less stressful by taking smaller trips to the store.

Instead of loading up on two weeks or more of food essentials, I buy enough food for at least the next few days. Doing this allows me to spend less time in the busy store and shop with minimal stress. But I’ve also found that this strategy has helped me save money.

For starters, I’m wasting less food. When I fill my fridge, I sometimes forget about fresh produce and other essentials with a limited shelf life. When this happens, I end up throwing out the food — which is wasteful. Taking more frequent shopping trips has helped ensure I eat all the food I buy before it goes bad.

I’m keeping my spending in check

As a bonus, I’m no longer wasting my money because this technique also makes me more aware of what I buy. Before making my shopping list, I’ll look at my grocery store’s weekly flyer and in-app coupons to ensure I get the best deals. Doing this allows me to plan my meals accordingly.

Try this strategy if you’re looking for a way to reduce your grocery spending. It may help you waste less food. It could also help you be more aware of what you’re buying and how much you’re spending so you can adjust your shopping habits to stay on budget.

Other ways to save money on groceries

Are you looking for other ways to save money when buying groceries and household goods? Here are a few suggestions that may help you.

Stick to store-brand and sale items: Pay attention to the prices you see. Choosing a store-brand item may be cheaper than the name-brand equivalent. It’s also wise to shop sales, so review the sales flyer before you outline your shopping list.Take inventory of what you have: Many of us neglect to take inventory of our nonperishable items, like canned goods. When did you last look at what you have in your kitchen cupboards? Taking inventory of the food items you already have before you shop could save you money.Don’t ignore in-app deals and virtual coupons: Many grocery retailers have free mobile apps. Your store may offer app-exclusive deals and virtual coupons you can clip to save more. Using these free resources could help you spend less on groceries.Use rewards credit cards: Consider paying for groceries and other expenses with cash back credit cards. You can earn cash back rewards when you spend money with these credit cards that you can use to pay for future grocery purchases.

Food and other everyday essentials cost more than they did a few years ago, but you can make strategic moves to keep more cash in your pocket. Want to save more? Browse our free personal finance resources for additional guidance.

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.Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.

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A homeowners policy will not pay for certain losses to a home. Find out what might be excluded from coverage to be prepared for potential damage. [[{“value”:”

Property owners need homeowners insurance coverage because houses cost a lot of money. For many people, their home is their most valuable asset. Homeowners insurance can also provide coverage for the property inside of a home, which is important since most people keep all their stuff where they live.

A homeowners policy can provide important protection to help property owners avoid emptying their checking account when something goes wrong. But this doesn’t mean these insurance policies offer protection for every item or in every situation.

In fact, homeowners should be aware upfront that a few things most likely won’t be covered, so they can make other plans to prevent their personal finances from being derailed. Here are some expenses that generally won’t be paid for by a home insurer.

1. Flood damage

A typical homeowners insurance policy will not provide coverage for water damage resulting from anything nature-related. While insurers might pay if, say, a refrigerator water line breaks and floods the basement, standard policies won’t provide protection from loss if floods happen due to natural causes, such as a hurricane.

Homeowners who live in a flood zone or who fear their house might flood should look into the National Flood Insurance Program run by FEMA. This program can offer affordable coverage that picks up the bulk of expenses for losses if a flood does happen.

Mortgage lenders usually require flood insurance for those who live in flood zones. But even cash buyers don’t want to have to pay out of pocket to rebuild if all is destroyed. Buying flood insurance can help ensure that doesn’t happen.

2. Mold

Insurers generally exclude any problems in a home caused by negligence or resulting from routine wear and tear. Mold is usually one of those excluded causes of damage. Except in very rare instances, most homeowners insurance companies will simply turn down mold claims and provide no coverage at all to remove the mold or to fix or replace property affected by it.

An insurer might pay if, for example, a fire started and was sprayed with water to put it out, and the water ended up causing mold growth. But in most cases, mold happens when homeowners don’t address water-related issues over time. Mold won’t be paid for in these situations and property owners will need to pay for remediation and repairs out of pocket.

3. Pest invasions

Bugs and other unwelcome creatures can come into a home and do serious damage. Unfortunately, since the entry of insects, rats, mice, or other small animals is usually seen as preventable, homeowners insurance generally won’t cover the damage these nuisance pests cause. This is different from when wildlife, like a bear, causes sudden, unexpected, and unpreventable damage to a home.

It’s best to take action swiftly if there’s an infestation and call an exterminator right away before a little problem turns into an expensive issue. This is true even though the exterminator has to be paid out of pocket. Pest control and other maintenance is one of the ongoing costs of homeownership.

4. Expensive jewelry

Finally, home insurers don’t just limit the specific cause of damage they’re willing to cover. They also impose some limits on the property they’ll pay for as well.

For example, it’s common for insurers to limit coverage to either $1,500 or $2,500 worth of jewelry, depending on the policy. After that limit is met, the insurer will no longer be responsible. Those who need more protection can buy a standalone jewelry policy or, in some cases, can have their insurer add on more coverage of jewelry as a policy rider.

It’s important for every property owner to understand the rules and the limits of their coverage. That way, add-on policies like a jewelry rider or standalone flood insurance can be purchased — and homeowners can save for other problems, like a pest or mold invasion.

Finding out coverage limits before it comes time to potentially make a claim is ideal. Those who know about these exclusions can make sure they put additional coverage in place if they need it.

Our picks for best homeowners insurance companies

There are many homeowners insurance companies to choose from. We’ve researched dozens of options and short-listed our favorites here. Looking for a green build discount or easy bundle policies? Want an easy-to-use interface? Read our free expert review and get a quote today.

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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Do you love cheap $1.50 Costco hot dogs? It might be worth joining Costco just for the food court. See how much you can save on cheap meals at Costco. [[{“value”:”

Costco food courts are becoming the new airport lounges: overcrowded. The warehouse retailer is reportedly cracking down on non-members eating at the Costco food court. It’s no surprise that so many people are excited about $1.50 hot dog combo meals. But if you have to be a Costco member to eat there, is it worth joining just for the food court?

Even if you never bought anything else at Costco — no groceries, no treasure hunts, no high-end items — but just stopped by from time to time to eat at the food court, it could still be a good value for your personal finances. The Costco food court offers quick, low-cost meals with friendly service. The dietary options are not diverse and the nutrition levels aren’t likely to be as good as what you could cook at home, but for hungry people on the go, the Costco food court is a cheap meal solution that’s worth considering.

Let’s look at a few reasons why you might want to join Costco just for food court dining. (Prices may vary by location.)

1. Cost savings

Costco is famous for its $1.50 hot dog and drink combo, which has not had a price increase since 1985. The company seems determined to keep the prices low, as a loss-leader, goodwill gesture, and symbol of the brand. Costco’s food court hot dogs are beefy and surprisingly filling — and you can get free sauerkraut and pickle relish, for extra fiber and “vegetables.”

When you consider that a typical fast food drive-thru meal of burger, fries and a soda might easily cost $10 (or more in some cities), let’s assume that each meal at the Costco food court could save you $8.50. If you eat at Costco twice per month, that hot dog can help you save $204 per year on fast food meals.

2. Takeaway meals: Pizza and more

Hot dogs aren’t the only thing to eat at the Costco food court; it also offers hot pizza by the slice for $1.99, or whole (huge) 18-inch pizzas that you can take home, for just $9.95 per pie. Assuming 12 slices per pizza, that means your take-home pizza can cost less than $1 per slice.

The Costco food court also offers a few other items like the chicken bake, Caesar salads, turkey sandwiches, frozen yogurt sundaes, and smoothies. Exact menu items may depend on the location, and sometimes items get discontinued; my kids used to love the Costco churros, and I used to love the barbecue brisket sandwich.

If you are trying to eat only at the Costco food court, then this next idea is “cheating,” slightly, but: Costco has many great easy-to-prepare takeaway food items at the deli section. Costco’s famous rotisserie chicken only costs $5 and is hot, fresh, well-seasoned and ready to eat — easily feeding four people. Costco also offers a range of take-and-bake items and prepared meals, like ravioli, lasagna, chicken pot pie, pulled pork, and more. Just be prepared for huge portions — have friends over for a Costco potluck!

3. Convenience

The Costco food court is not gourmet cuisine, and it’s not offering upscale ambience. But what Costco gives you is freshly prepared, convenient food that provides good value for the money. If you’re a busy small business owner who doesn’t have much time to stop for lunch between meetings, if you’re a time-starved parent on your way home from soccer practice, or if you just want another easy option to get a quick, filling meal while you’re killing time between errands in the suburbs, Costco can offer what you crave.

For about $5-$10 per month — less than the cost of a typical fast food combo meal — you can get a Costco membership that unlocks an entire abundant ecosystem of shopping. The food court is worth trying, and you might love it so much that you find it to be worth paying for. But the real value of Costco is how it introduces you to a wider world of discounts on reliable, high-quality, curated products. Costco’s hot dogs are good, but they’re just one part of the larger picture of how joining Costco may help you improve your personal finances.

Bottom line

Frankly, I wouldn’t recommend joining Costco just for the food court — but you don’t have to. Once you go to Costco and see the great deals on high-end items like TVs, furniture, and treasure hunts for great products you never knew you needed, you’ll more fully appreciate the value of a Costco membership. The cheap hot dogs and fro-yo sundaes are just a delicious bonus.

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

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