Money Management

Unsure if a business class ticket is worth the extra expense? It depends on your needs. Find out which travelers may benefit from a premium airline ticket. [[{“value”:”

Some travelers prefer scoring the best price possible when buying airfare. They don’t feel the need to pay for extras beyond what’s offered with an economy class ticket because they want to get the best deal. However, other travelers prefer to pay for additional comforts and amenities.

Still deciding whether to book an economy class ticket or spring for business class on your next trip? Consider what you value most to determine how to spend your money on this travel expense. A business class ticket may be worthwhile if you value the following.

1. Enjoying more space and greater comfort

No one likes feeling cramped into tight spaces or sitting in uncomfortable seats. Most airlines fit in as many coach seats as possible to maximize their revenue. If you value having more space and greater comfort, consider booking a business class ticket.

You’ll have greater comfort and privacy because you’ll have more personal space. You can also expect a more comfortable seat with more legroom. Depending on the route, you might get a lie-flat seat. This expense may be worth it if you want to be as comfortable as possible during your flight.

2. Getting personalized care and attention

When you fly in economy, you can expect to receive a basic level of service. Flight attendants will check in occasionally, and depending on the route and flight length, they may provide snacks, drinks, or meal services.

But you shouldn’t expect personalized care or attention. A business class ticket may be worthwhile if you value a higher level of customer service and care. Since business class travelers typically spend more money on their airfare, airline staff are trained to give these passengers more attention and better service.

3. Arriving well-rested

On a long-haul flight, getting comfortable enough to sleep can be almost impossible. If you have big plans to start exploring your destination as soon as you land, it can be challenging to do so without being well-rested. When flying in economy, you may get little rest during the flight.

There’s nothing worse than arriving at your travel destination feeling unrested and unwell. Some travelers may find the additional expense of a premium class ticket well worth it, knowing they’ll arrive more refreshed and ready to enjoy their trip.

How to save money on premium airfare

Business class airfare doesn’t have to break the bank. It’s possible to get a deal on a business class ticket. Here are a few tips to save money when buying premium airfare.

Subscribe to a flight deal service: If you want to experience business class without a high price tag, consider subscribing to a flight deal service. Subscribers are sent airfare deals by email. You can subscribe to a plan with access to premium class airfare deals.Use Google Flights to track pricing: Google Flights is an excellent airfare pricing resource. You can compare prices for airfare across multiple carriers. You can also track prices for a particular business class flight so you can time your purchase to get the best price.Use your credit card rewards: You can earn valuable rewards using travel rewards credit cards. Many travelers redeem their credit card rewards for airfare to make their vacations less expensive. If you have points or miles that you need to use, consider redeeming them for a business class ticket.

Spend money on what matters to you

We all value different things. Before spending money on travel, consider what’s important to you. A business class ticket may be ideal if you’re a traveler who appreciates greater comfort and privacy, extra care and attention, and arriving at their destination well-rested.

If you’re looking for a way to prepare before you book your next trip, consider stashing money in a high-yield savings account ahead of time. You’ll feel better knowing you have the funds needed when it’s time to book your airfare. For additional financial tips, check out our personal finance resources.

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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.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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Having money in savings for emergencies and future spending is a great feeling. Learn what you can do to make it even better. [[{“value”:”

Having a savings account with money in it is really personal finance 101. But it isn’t as simple as just chucking some money into the account and forgetting about it. Instead, here’s why saving should be an active and goal-oriented process.

Set goals for your savings

Taking the time to think about why you’re saving can be the best way to maximize the money you’re putting into your savings account. If “saving money” is a nebulous thing for you and you’re not actually considering how that money can improve your life, it’s going to be a lot harder to stick to a savings plan — or even get started with one.

I’ll use myself as an example here. I decided a little over two years ago that I wanted to become a homeowner again (after swearing for years that I’d never do it again). Step one of my plan to make that a reality was getting out of debt, but after I did that, I was ready to start saving money.

Before I set my ambitious goal, I thought about what was possible based on my income and commitment to following through. Then I broke down the big goal into smaller weekly amounts, which made the whole process a lot easier to consider. If I hadn’t taken the time to think about how much I wanted to save, how much I actually could save, and what the money was for, I would have struggled to meet the goal.

How can you implement this technique?

If you’re getting ready to make savings a higher priority in your life, I recommend doing the same. Let’s say you want to save up an emergency fund so you’ll have the cash on hand to get you through a period of joblessness or a surprise bill. Consider how much your monthly expenses are (perhaps run them through The Ascent’s emergency fund calculator), and decide how much you want to save — experts recommend three to six months’ worth of bills.

Then break that goal down even further. How much do you need to save every week or month to reach a fully stocked emergency fund? Is that achievable for you, or do you need to increase your income or perhaps cut your spending to keep more money in the bank? Now you can create a roadmap for saving success.

Other ways to make saving easier

I recommend adding a few other ways to maximize your savings, including:

Open a high-yield savings account: Not all savings accounts are created equal. According to the FDIC, the average savings account APY (annual percentage yield, or how much you’ll earn in a year) is just 0.47%. But that’s only an average — check out our list of the best high-yield savings accounts and you’ll find accounts paying 10 times that or more.Automate it: If you don’t have to think about moving money from your checking account to savings, you don’t have to worry about forgetting to do so. Making savings contributions automatic is a good way to help ensure success with the process.Lean on sub-accounts: One of the best things about my own high-yield savings account is that I can open up to 30 sub-accounts within the main account and set separate goals for each. I use these for all kinds of goals, from vet visits for my cats to international vacations. Being able to separate your savings for different goals will make the process easier.

If you’re in a position where you earn enough money to be able to save, you are fortunate indeed. Be sure to set goals for your savings, and use the other tips above to maximize your efforts.

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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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There’s some misinformation about Costco out there. Read on to get to the bottom of things. [[{“value”:”

Joining Costco could be a great move for your personal finances. The money you spend on a membership ($60 a year for a basic and $120 a year for an Executive) may be more than worth it when you consider how much cash you could free up for your savings account by shopping Costco for groceries, household products, and more.

But if you want to make the most of your Costco membership, you’ll need to know the ins and outs of how the store works. And you’ll also need to make sure you don’t buy into these big myths.

1. Costco always has the lowest prices

Because Costco offers food items and household essentials in bulk quantities, you’ll often pay less per ounce or unit at Costco than at another store. But that’s not always the case.

Sometimes, all it takes is for your local grocery store to put a given item on sale, and suddenly, its per-box or per-unit price is lower than Costco’s. So rather than assume that Costco’s price is automatically the best, do your research.

Also, make sure to buy your bulk items strategically. At Costco, you might pay less per ounce of cheese or per strawberry than at a regular supermarket. But if you don’t consume those items before they expire, you might end up paying more in the form of food waste.

2. You can return any item to Costco at any time

Costco generally has a very flexible and generous return policy. And it’s true that you can return most items at any time without a hassle. In fact, just recently, a Costco member returned a couch after two years of use, and Costco issued them a full refund.

But there are certain items you can’t return to Costco after you buy them, and others that can only be returned within a specific time frame. With electronics, for example, you get 90 days to make a return. And alcohol and cigarette purchases can’t be returned at all. The same holds true if you buy tickets to a live event through Costco. It’s a good idea to familiarize yourself with the store’s return policy so you don’t end up in a bind.

3. You’re only allowed one free sample per station

One of the best parts of shopping at Costco is enjoying free samples along the way. But don’t assume you can only sample each item once.

Costco puts those samples out so that customers can try new products and, ideally, buy them and take them home. So if you need a second bite to make a more solid decision on an item you’re not familiar with, go for it.

That said, if there’s a long line of people behind you waiting on a given sample, the courteous thing is to make sure everyone gets one before you grab a second. But otherwise, go ahead and chow down. You might even end up full enough that you don’t need to spring for a food court lunch.

The more you know about Costco, the better your membership can serve you. As such, don’t buy into these specific myths. They could end up costing you money or, in the case of food samples, costing you a second tasty bite of something awesome.

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When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has nearly tripled the market.*

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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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Hate waiting in line to show your receipt to an employee after shopping at Sam’s Club? Learn how a new digital solution may end this practice by year’s end. [[{“value”:”

If you’ve ever been a Sam’s Club member, you’re familiar with showing an employee your receipt before you exit the store. This is a common practice at warehouse clubs nationwide. This process helps reduce retail theft by ensuring members pay for everything in their carts. But this may eventually become a thing of the past for Sam’s Club members. Find out why Sam’s Club will stop manually checking receipts and how this can benefit shoppers like you.

New technology could save shoppers time

Sam’s Club wants to eliminate manual receipt checking. The company is experimenting with new technology solutions to help shoppers get out the door faster after loading their carts and paying for goods at their local clubs.

The warehouse club is testing artificial intelligence technology to verify customer receipts. The brand now uses this digital technology solution at 10 of its clubs. Sam’s Club hopes to expand this offering at all clubs nationwide by the end of 2024.

Here’s how it works: Instead of having customers stop and wait in line to have their receipts checked by a staff member, they will exit through a gate-like portal. The portal features vision-based technology to verify whether shoppers have paid for all items in their carts.

As this technology continues to roll out at other locations, employees will no longer need to manually verify each customer’s receipt. The receipt verification line can get lengthy during busy shopping times. This can be frustrating to members trying to get in and out quickly.

However, this new solution could allow members to get out the door faster because Sam’s Club can verify their purchases faster. While not yet available nationwide, this is something that consumers should be aware of if they shop at Sam’s Club or are planning to join soon.

Don’t miss this time-saving membership perk

In addition to digital receipt verification tools like this, members can save time while shopping in other ways. All Sam’s Club members can use Scan & Go, which lets shoppers scan items as they load their carts.

A barcode scanner is built into the Sam’s Club app, and as members scan each item, they can see a running tally of their shopping bill. After shopping, they can pay their bill through the mobile app to skip the long checkout line. When exiting the store, members show a staff member their digital Scan & Go receipt.

Members can also save money with this feature. Sam’s Club has select Scan & Go offers available throughout its clubs. Shoppers who use Scan & Go can keep more money in their bank accounts by taking advantage of these additional discounts.

If you dread long checkout lines, you may want to try Scan & Go. You can get more value from your membership investment by using your Sam’s Club membership perks.

Should you become a Sam’s Club member?

Many people join Sam’s Club or other warehouse clubs as part of their personal finance strategy. It’s possible to save money on groceries and everyday essentials by purchasing necessary goods in bulk at Sam’s Club. But you must pay a yearly membership fee to shop here. Depending on your membership, you’ll pay anywhere from $50 to $110 annually.

Before joining, consider your shopping habits, determine if you have enough space to store bulk buys, and check whether you have a club near your home. You can also browse available products on the Sam’s Club website or mobile app to see what the retailer sells. By taking these extra steps, you can make a more informed decision about whether a membership is worth the cost.

Where to invest $1,000 right now

When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has nearly tripled the market.*

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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.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Walmart. The Motley Fool has a disclosure policy.

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