Money Management

Want free money to shop with at Costco? Here’s how to get it. [[{“value”:”

If you’re someone who likes to take the time to think through personal finance decisions, then it may be that you’ve been on the fence about joining Costco for a while. The upside of getting a Costco membership is gaining access to the store’s low-cost inventory, from groceries to household cleaners to apparel. The downside, of course, is having to shell out the money for a membership fee.

Right now, a basic Costco membership costs $60 a year. An upgraded Executive membership costs $120 a year, but then, you get 2% cash back on your Costco purchases.

You may be waiting to see if Costco runs a promotion that gives you access to a lower-cost membership before joining. But one thing you should know is that unlike Sam’s Club, which runs membership promotions somewhat frequently, Costco pretty much never discounts its membership fees. However, sometimes, there are a partner offers you can sign up for that effectively reduce the cost of your membership.

Such is the case right now. If you buy your Costco membership through StackSocial, you can snag $20 back in Costco cash on a basic membership and $40 back on an Executive membership. And either one, frankly, is a pretty good deal.

Some fine print

If you’re a current Costco member, this promotion might sound appealing to you. But you can’t just cancel your membership, wait a few days, and then rejoin using this promotion. This offer is valid only for new Costco members. And your membership must be expired for a period of more than 18 months to qualify again as a new member.

You should also know that you won’t get your Costco cash right away with this promotion. However, it should arrive within two weeks of activating your membership. That’s pretty reasonable.

Should you join Costco?

Costco gives you access to thousands of items on a regular basis. So if you have a larger family to feed or a home to maintain, you might easily reap enough savings to make your membership fee worth paying.

You should also know that even if you don’t live particularly close to a Costco store, your membership will work perfectly well on Costco.com. And while warehouse store prices tend to be cheaper than online prices, with Costco.com, you generally get access to a wider range of inventory. Plus, the online deals still tend to be pretty sweet in their own right.

Which membership should you get?

As far as which membership to choose, here’s an easy way to figure it out. If you think you’ll spend more than $3,000 a year at Costco, the Executive membership makes sense. That’s because 2% back on $3,000 is $60 — the cost of your upgrade. So once you spend a dollar more, you’re ahead financially with an Executive membership over a basic one.

Plus, here’s the nice thing about the Executive membership. If you don’t earn enough cash back after a year to make back your upgrade fee, just head to customer service and ask to downgrade to a basic membership. From there, Costco will refund whatever portion of your $60 upgrade fee you didn’t earn in cash back form. So if you only racked up $45 in cash back, for example, you’ll get $15 from Costco when you downgrade.

Of course, you might still be wondering whether a Costco membership is right for you altogether. And if you’re really struggling with the decision, you may want to buy a basic membership using the above promo to score $20 in Costco cash. That effectively whittles the cost of your membership down to $40, which isn’t a huge amount to shell out for the purpose of trying Costco out and seeing if it’s worth it.

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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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It’s not too late to finish your grocery shopping before Sunday’s big football game. Find out which foods you may want to avoid to host an affordable event. [[{“value”:”

Sunday’s game is almost here, which means it’s time to start planning what party snacks you’ll serve when you gather with friends and family to watch the big event. Remember to consider the cost of ingredients when selecting what foods to prepare for the game to keep your spending in check.

Going into credit card debt when buying party must-haves is never a good idea, so you’ll want to keep your budget in mind as you shop for food and other party supplies. Unfortunately, some popular party snacks will cost more than they did last year. Here’s what you need to know before this weekend.

This tasty snack item will cost shoppers 60% more

Several popular football game snack essentials will cost more in 2024 compared to 2023. But one snack item has a much higher average price tag this year, and the answer may surprise you. What is it? Tater tots! While I don’t think of this as a party snack, this information is worth knowing if you are thinking about preparing tater tots this weekend.

According to a Pattern study, the average price of tater tots increased by 60% from January 2023 to January 2024. The 2023 average price was $3.40 per bag of frozen spuds, while the average price this year is $5.44.

The study examined the average change in pricing for the most commonly purchased football game snacks from January 2023 to January 2024. Pattern used Amazon for pricing data.

Other snacks have also increased in cost since last January. Some food products are individual ingredients used in recipes, while others are pre-made party essentials. The study found that this year, consumers will pay 12% more overall for party foods.

Here’s a breakdown of some other average price increases for your favorite football-gathering food essentials:

Keep this in mind as you draft your shopping list for the upcoming game. Switching up your menu this year may be beneficial if you’re on a budget and want to keep costs affordable.

Five tips to save money on food costs for your football gathering

If you’re sad about the price increase of tater tots, I have some good news: You can still avoid overspending as you fill your cart with game day food essentials. Here are some tips.

Stick to what’s on sale: Review the sales flyers for the retailers near your home before you assemble a grocery list. Buying on-sale items can help you keep more money in your bank account. Many retailers will have popular snack foods at a discount.Shop at low-cost retailers: Some of the above prices shocked me, but I don’t buy grocery items on Amazon. To get a better deal, consider shopping at other retailers. Retailers like Aldi may have much cheaper prices than Amazon.Stick to generic essentials: Unless it’s on sale, you’ll usually pay more for a name-brand find. Consider sticking to generic essentials to get a better deal. Your party guests won’t know if you used generic or name-brand mayonnaise in your recipe.Don’t ignore store loyalty programs: Many retailers have free loyalty programs. In addition to earning rewards when you shop at their stores, you can benefit from other perks like member-exclusive discounts and digital coupons. Don’t forget to use these programs to maximize your savings.Get rewarded when you shop: While rewards credit cards won’t provide a direct discount on your shopping bill, they can help you earn rewards when you swipe your card for payment. Check out our list of the best cash back credit cards to learn how to earn cash back rewards when you shop.

For additional ways to save money, review our free 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.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, 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 Amazon. The Motley Fool has a disclosure policy.

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You’re not going to retire until your 60s or 70s, so why save and invest any sooner than you have to? Learn why it’s better to start as early as you can. [[{“value”:”

As much as we’d all like to live our lives without regrets, that’s not in the cards for most people — the odds are good you’ve had a life experience or two that you wish you hadn’t. For me, most of my regrets relate to past financial missteps, such as buying a house when I definitely couldn’t afford to be a homeowner. Another big one that’s become more significant to me as I’ve both gotten older and also learned more about personal finance is the fact that I have no retirement savings of any kind.

I opened a taxable brokerage account last year and have dipped my toes into investing to the tune of a few hundred dollars. But my main financial focus for the last year and change has been saving money to buy a home. Once I achieve that goal, I intend to open a tax-advantaged retirement account and start making regular contributions.

The reason I waited until my 40s to save for retirement was due to educational debt and a series of low-paying (but otherwise fulfilling) jobs that had me living paycheck to paycheck and unable to consider a future where I might actually be able to retire.

Unfortunately, research from Clever Real Estate shows that 17% of people surveyed are deliberately waiting until their 40s to save for retirement because they believe that’s what they should do. To put it lightly, this is wrong — and here’s why.

The sooner you save for retirement, the better

In a perfect world, I would’ve gotten a higher-paying job right out of school and been able to pay off my education and have plenty left over to invest for retirement. But I finished graduate school during the Great Recession and was lucky to get any job in my field, period. I also would’ve saved a lot of money had I not needed to uproot my life every few years to advance my career — but that wasn’t my path.

If you’re in your 20s or 30s and can save and invest for retirement now, you absolutely should. The more time you have, the more you will benefit from the miracle of compound interest. This is when your money earns more money, which can then be reinvested and earn even more money. Over a long period (like decades), you’ll benefit even more from this principle.

Let’s say you can afford to put $250 per month ( $3,000 per year) into an IRA, and you’ll earn an average return of 10% per year over time (this is in line with the stock market’s performance over the last 50 years). Here’s what that might look like, depending on your time window:

As you can see, starting in your 20s and having 40 years to invest gives you a much higher account balance by the time you stop working. If you wait until your 40s to start investing and only have a 20-year time window, you won’t be retiring with anywhere near as much money.

You can save on your taxes, too

Investing earlier comes with another benefit: tax savings. If you invest in a retirement account, such as a 401(k) through your employer or an IRA you open on your own, the money goes in before taxes. You’ll be taxed on those dollars eventually, of course, but it won’t be until you start making withdrawals in retirement. Paying taxes is a societal good that benefits your fellow Americans, but if you can reduce your taxable income, that’s a win for you.

How can you get started?

If your employer offers a 401(k) plan, that’s your easiest option for retirement saving — and you might even get a match to your contributions to boot. But if you don’t have access to a 401(k), or your employer doesn’t offer a match, you can open a retirement account at a brokerage firm on your own. Check out our list of the best IRAs to find a winner. Or, if you’d rather reap your tax savings in retirement instead, consider a Roth IRA (these are funded with post-tax dollars, and you can actually withdraw your contributions any time without penalty if the account has been open for at least five years).

Once you’ve picked a great account, make investing easier by setting up automatic transfers from your checking account to your investment account. Personally, automating my finances makes me nervous (living paycheck to paycheck for years will do that to you), but this strategy is a great way to ensure that you don’t forget to contribute to the account.

And while you certainly can pick individual stocks to invest in through an IRA, doing so isn’t necessary to earn solid returns. Investing in exchange-traded funds (ETFs) will have you investing in broad market sectors, so if one company has difficulty, it won’t tank your portfolio. You can even invest in the entire market with S&P 500 ETFs.

If someone told you to wait until your 40s to save for retirement, they were sadly mistaken. Get started as soon as you can — and any amount of money invested today can grow to fund a more comfortable retirement decades from now.

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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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Want to save money on prescription drugs? Costco Pharmacy could help. See how you could save hundreds of dollars on medications in 2024. [[{“value”:”

If you’re struggling with out-of-pocket healthcare costs, saving money on prescription drugs can be a great way to improve your personal finances. Fortunately, Costco is not just a great place to buy hot dogs — the Costco Pharmacy offers big savings on prescriptions and over-the-counter (OTC) medications. Depending on your healthcare spending, the pharmacy savings alone might make it worth signing up for a Costco membership.

Let’s look at a few popular prescriptions and OTC meds that get big discounts at Costco — and see how much you can save in a year.

Costco discounts on five common prescriptions

We researched prices on some of the most commonly prescribed drugs to see how much you could save with Costco Pharmacy. Depending on how many medications your family takes, you might recoup the cost of your Costco membership fast!

1. Atorvastatin Calcium (generic of Lipitor)

This statin drug is used to treat high cholesterol. Costco offers a package of 30 tablets (20 mg each) for $7.99, compared to $19.79 at the highest-priced local competitor.

Costco savings: $11.80 per month

2. Celecoxib (generic of Celebrex)

This medication treats pain, inflammation, and arthritis. Costco offers 30 tablets (200 mg each) for $12.79, compared to $27.99 at the highest-priced pharmacy in the area.

Costco savings: $15.20 per month

3. Fluoxetine HCL (generic of Prozac)

This SSRI medication treats anxiety, depression, eating disorders, and obsessive-compulsive disorder (OCD). Costco offers 30 capsules (20 mg each) for $8.79, compared to $20.99 at the highest-priced local pharmacy.

Costco savings: $12.20 per month

4. Lisinopril (generic of Zestril)

This medication treats high blood pressure and heart failure, and helps prevent further damage after a heart attack. Costco offers 30 tablets (20 mg each) for $5.99, compared to $15.79 at the highest-priced local pharmacy.

Costco savings: $9.80 per month

5. Tamsulosin HCL (generic of Flomax)

This drug treats symptoms of an enlarged prostate by relaxing muscles in the prostate and bladder. Costco offers 30 capsules (0.4 mg each) for $6.79, compared to $16.79 at the highest-priced local pharmacy.

Costco savings: $10 per month

Note: Pharmacy prices may vary by location and by dosage strength. All cost comparisons were for 30 tablets/capsules per month, assuming 30 doses per month. The Costco website listed these prices as of Jan. 25, 2024, for my local Costco Pharmacy in West Des Moines, Iowa.

Top Costco savings on over-the-counter (OTC) medications

Costco also offers deals and discounts on over-the-counter medications. Here are a few online prices I found (as of Jan. 25, 2024, in West Des Moines, Iowa) for some of these popular types of pain relievers, allergy medications, and other non-prescription drugs.

Advil Ibuprofen

Costco offers bulk discounts on this popular pain reliever and fever reducer. You can get a big bottle of 360 tablets (200 mg) for $24.99 — or about $0.07 per tablet. Walgreens offers a bottle of 100 tablets for $9.99, or about $0.10 per tablet. That means buying the same amount of tablets at Walgreens would cost you about $36.

Costco savings: $11.01 per year (hopefully 360 tablets of Advil will last your family at least 1 year)

Benadryl Ultratabs® Antihistamine Allergy Medicine

Get ready for springtime allergy season with 200 tablets of Benadryl (25 mg each) for $26.99 at Costco — about $0.14 per tablet. Walgreens offers 100 tablets of Benadryl for $19.99, or about $0.20 per tablet. That means that the same amount of Benadryl at Walgreens would cost you about $39.98.

Costco savings: $12.99 per year (assuming 200 tablets will get you through a full year of allergies)

TUMS Antacid Ultra Strength

Get relief from heartburn, acid indigestion, and upset stomach with this bulk bottle of TUMS. Costco offers 265 chewable tablets for $13.99, about $0.05 per tablet. Walgreens has the same product in a package of 160 tablets for $13.49, or about $0.08 per tablet. This means 265 TUMS tablets at Walgreens would cost about $21.20.

Costco savings: $7.21 per year (if you need more antacid medication than this in one year, you might want to talk with a doctor)

Don’t forget: These are just the Costco savings you can find by buying name-brand OTC medications in bulk. Costco also offers even better deals on its private-label Kirkland medicines. However, I couldn’t get online pricing for these Kirkland products — you have to go to Costco to see local prices in your area.

Fun fact: Costco also offers pet medications! Costco offers discounts of 40% or more on prescriptions for your pet.

How much can you save with Costco Pharmacy?

If you buy all the medications featured in this article, here’s how much you could save with Costco Pharmacy in one year:

Bottom line: Based on our calculations, buying five commonly prescribed drugs and three popular over-the-counter medications at Costco can help you save about $739 per year. You can save even more with bulk quantities of your prescriptions or Costco’s private-label Kirkland brand over-the-counter medications. Saving money at Costco can help improve your health and financial wellness in 2024.

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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 Costco Wholesale. The Motley Fool has a disclosure policy.

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