Money Management

Looking for the perfect gift for Valentine’s Day? Costco has you covered. Read on to explore some specific items that may be perfect for your loved one. [[{“value”:”

The average consumer expects to spend about $186 on Valentine’s Day this year, reports the National Retail Federation. But you may want to stick to a lower budget, especially if you’re still paying off lingering debt from the holidays and getting your personal finances back into shape.

The good news is that Costco has a variety of Valentine’s Day gifts you can buy at a much lower price point. And if you are able to spend something in the ballpark of $186, there are options available from the warehouse club giant’s jewelry section, too. Here are some specific gifts worth checking out this month.

1. Ghirardelli Chocolate Assortment Valentine’s Duet Hearts

Nothing screams “I love you” on Valentine’s Day like an assortment of delicious chocolate. Costco is selling a 15.2-ounce Ghirardelli mix that includes milk chocolate, caramel, and sea salt caramel hearts. The online price is just $17.99, but in case you’re new to Costco, you should know that prices are almost always less expensive in stores. So you may want to head over to your local warehouse club and snag this item directly off the shelf.

2. Hickory Farms Deluxe Valentine’s Day Savory Snacks Gift Box

Who says all food-related Valentine’s Day gifts have to be of the sweet variety? Costco is selling a savory snack assortment that includes cheddar cheese, crackers, and beef summer sausage.

Fair warning: This collection of savory items doesn’t come cheap. For $54.99 online, you’re going to pay considerably more than what a bag of chocolate hearts will cost you. But if you can swing this gift box, your recipient might be thrilled.

3. Mrs. Fields Happy Valentine’s Day Cookie Combo Tin

You could go the chocolate route for Valentine’s Day this year. But if you really want to wow that special sweets lover in your life, consider an assortment of cookies and brownies instead. Costco is selling a generously sized tin for $36.99 that features 44 individual baked goods in total.

The only catch here is that this is an online-only special. And it could take a good three to five days to arrive (possibly more), depending on your location. So if it’s a gift you’re interested in, buy it now.

4. A 14-karat gold heart necklace

Costco’s jewelry section is an area of the store (or website) you shouldn’t overlook, as it’s loaded with quality items that could make for a perfect Valentine’s Day gift. If you’re looking to splurge without totally emptying your savings account, Costco is selling a 14-karat yellow gold heart necklace for $199.99.

Customers who have purchased this particular item give it an overall rating of 4.5 out of five stars online, which is encouraging. However, if you’re not happy with your purchase, or it just doesn’t end up suiting your recipient’s taste, you can always bring it back to Costco for what should be a hassle-free refund.

There are just a few of the great gift items Costco has available for Valentine’s Day. But don’t put off your shopping for too long. Some of these items are likely limited-time specials that may sell out or leave the shelves soon. And you may find other gift baskets through Costco.com that can only be shipped, which means the clock is ticking down. So all told, it pays to carve out some time sooner rather than later to finish up your Valentine’s Day shopping.

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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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Costco offers more perks than you might think. Be on the lookout for these five signs you’re missing out on valuable member benefits. [[{“value”:”

Costco membership comes at a cost, with the price of joining the warehouse club starting at $60. If you’re spending this money out of your checking account each year, you’ll want to take full advantage of all that the store has to offer.

That’s why it’s important to watch out for these five signs that you aren’t getting the full value of your annual membership.

1. You aren’t buying Costco gas

Costco gas is one of the best deals around, with prices often coming in as much as $0.30 per gallon cheaper than at competing stations. If you’re not filling up when you visit the warehouse club, you’re missing out.

If you’re able, try to time your trips to Costco for when your gas tank is close to empty (not too close, of course!). You’ll be able to get your tank filled up at a deep discount, and the savings on gas alone can often more than cover the cost of your membership.

2. You’re passing up the food court

Costco has some really amazing bargains at its food court. While eating at a warehouse club may not be your idea of a fine dining experience, the reality is that the eats are good and come at rock-bottom prices. In fact, you can get an all-beef hot dog and soda combination for just $1.50, or pay as little as $9.95 for an entire 18-inch pizza.

The next time you’re planning to eat out, why not do it at Costco to take advantage of these great bargains. You’ll get some tasty treats and have lower credit card bills to show for it.

3. You’re not checking out the gift card section

Costco routinely offers discounts to other stores and restaurants at reduced prices. For example, as of January 2024, you can buy:

$100 worth of Domino’s Pizza gift cards for $79.99$100 worth of Landry’s multi-brand gift cards for $74.99 (these can be used at many stores and restaurants, including Morton’s Steakhouse and Joe’s Crab Shack)$100 worth of Chuck E. Cheese gift cards for $74.99

These are just a few of the many offers available. You should always check the gift card rack and the offerings online if you want to make the most of your membership.

4. You haven’t done the math to determine if Executive membership is worth it

Costcos’ Gold Star membership is $60 per year. That’s the entry level price. Its Executive Membership is $120. But Executive Membership comes with tons of bonus perks, including extra service discounts. Most importantly, it offers a 2% annual cash back reward up to $1,000.

If you regularly spend more than $3,000 a year at Costco — which is really easy to do — then the Executive membership would be the better deal. Be sure to look back at how much you typically spend at the warehouse club during the month to see if the upgraded membership will pay for itself and ideally leave you with more cash back than you’re paying in added membership fees.

5. You don’t know all the benefits your membership offers

Finally, if you’re just shopping for groceries and household items and not paying attention to other benefits, you’re missing out. Costco provides many more ways to save than you can imagine, including:

Discounted drugs at the pharmacyAffordable tiresOptical servicesSpecial prices on automobiles (including a $1,000 member only incentive on Cadillac sedans and SUVs)Bottled water deliveryDiscounted insuranceCheap personalized photo productsReduced-price truck rentals through Budget

Be sure to check the full list of membership benefits so you don’t miss out.

If you spot any of these signs you aren’t fully using your Costco membership, take action today to change that. You’re paying for your membership, so you may as well reap all the benefits to your personal finances that the warehouse club has to offer.

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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.Christy Bieber 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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Cash back credit cards are an easy way to save money. Check out these tips on how to decide if you should open one this year. [[{“value”:”

Cash back cards are popular — 68% of Americans have them, according to credit card research by The Motley Fool Ascent. They’re not right for everyone, but they’re right for a lot of people. If you’ve been considering a cash back card this year, here are the signs that it’s a good move.

You’re looking for simple, easy-to-use credit card rewards

The great thing about cash back cards is how easy they are to use. Some credit cards have complicated rewards programs, where you could spend hours just learning how to use your points.

Cash back, on the other hand, is as simple as it gets. You earn cash back when you use your card on purchases. Many of the best cash back cards have bonus categories where they earn 3% to 6% back, and a base rate of 1% on non-bonus spending. Some cards also earn a flat 2% on all types of purchases.

When you want to redeem your cash back, you can use it to lower your credit card bill. For example, if you have a $500 bill and $50 cash back, you can use your cash back and lower the bill to $450. Or you can deposit it into your bank account. Some card issuers also let you set up automatic cash back redemptions, so you don’t need to do it yourself.

You want to increase your savings or investments

If your goal is to save or invest more in 2024, a cash back card could help you. Since you can send cash back to your bank account, you can use it however you like. For example, you could use your cash back to:

Increase your emergency fundAdd to your savings accountContribute to your individual retirement account (IRA)Invest through your brokerage account

Let’s say you spend $40,000 on your credit card per year (about $3,333 per month). If you earn 2% cash back on that, that’s an extra $800. And it doesn’t require any work on your part, outside of paying with a cash back card.

You don’t travel that much

Your other option for credit card rewards is travel credit cards. With these cards, you earn rewards that are redeemable for travel purchases. For example, you could use travel rewards to pay for airfare or a hotel stay.

The right type of card depends on your lifestyle and what you’re looking for. If you travel at least two or three times a year, then a travel card could be the best choice. It will help you save money on your trips, and many of these cards also offer perks that improve your travel experience. For example, several cards can get you into airport lounges.

If you rarely travel, then you should go with a cash back card. A cash back card is also better if you don’t want to spend time learning how to use travel rewards. While travel points can be valuable, they have a learning curve that cash back doesn’t.

You don’t want to pay an expensive annual fee

Another reason cash back cards are excellent for saving money is they don’t cost much, if anything. Many of them are no annual fee credit cards. There are also some cash back cards with an annual fee, but fee amounts are usually under $100. Those cards also typically have better benefits and higher cash back rates, which can make the annual fee worth it.

Travel cards, on the other hand, tend to be more expensive. Some of the most popular ones cost over $300 per year, and annual fees can be as high as $695. Some travel cards don’t have annual fees, but those have limited benefits, so they’re generally not worth it. If you want to keep fees to a minimum, a cash back card is the clear choice.

Overall, you can’t go wrong with a cash back card. As long as you pay your credit card bill in full every month and don’t overspend just to rack up rewards, you’ll come out ahead from the cash back you earn. If any of the descriptions above fit you, then it’s worth checking out cash back cards and picking one that matches your spending habits.

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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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Several risk factors can increase your auto insurance rates. Take a look at one you may not have known about. [[{“value”:”

Several factors go into an auto insurance premium: the driver’s accident history, their vehicle make and model, their ZIP code, and even personal factors like marital status and education level. Some of what insurers associate with increased risk of accidents might surprise you, especially since a few of them aren’t directly related to driving at all.

One factor in particular could raise the average car insurance premium by $2,200 per year. We’ll talk about what it is below, whether it affects you, and what to do about it if it does.

There’s a correlation between risky financial behavior and car accidents

If you’ve ever gotten an auto insurance quote and wondered why you needed to provide your Social Security number, it’s so the insurer can run a credit check. Auto insurance providers in many states look at credit scores when determining premiums to offer their drivers.

How much this affects a driver’s rate depends on their state and insurer. But in the U.S. as a whole, drivers with excellent credit typically pay about $1,947 per year while those with poor credit pay about $4,145 per year for the same coverage. That’s a difference of $2,198 per year.

It might seem odd, but insurers argue that there’s a relationship between credit score and the likelihood of getting in a car accident. Many lenders and insurers view a low credit score as an indication that someone is making poor financial choices and living beyond their means. There’s a greater risk of these individuals defaulting on loans, and some say this is indicative of a personality that may also take unnecessary risks behind the wheel. As a result, they charge drivers with poor credit more for their coverage.

This is a generalization, and there will always be some drivers who don’t fit the pattern. This could be why the following states have banned or restricted auto insurers from considering credit scores when setting premiums:

CaliforniaHawaiiMarylandMassachusettsMichiganNevadaOregonUtah

Some of these states ban the usage of credit scores entirely in auto insurance premiums, while others just forbid insurers from denying coverage or failing to renew a policy based on credit scores. Drivers who live in one of these states should contact their state department of insurance to learn how companies can use credit score data. Those who don’t live in one of the above states can be pretty confident that their insurance provider will consider their credit score when calculating their premiums.

How to improve your credit score

Drivers with poor credit can reduce their premiums over time by raising their credit score, but this won’t happen overnight. Credit scores are designed to provide a long-term view of how a person has handled borrowed money, so it takes months, if not years, to make the jump from poor to excellent credit. But don’t let that discourage you. Take things one day at a time.

The most important thing to do to help your credit score is to pay your bills on time. Set reminders if you have to so you don’t forget. You could also consider setting up automatic transfers from your bank account. If you cannot afford to keep up with your payments, try to reduce your spending and contact your creditor to see if there’s anything you can do to avoid falling too far behind on your payments.

A secured credit card can also help you build a credit score over time. These cards are excellent options for those with no or poor credit histories. They require a security deposit, which you can get back when you close the card if you’ve kept up with your payments. Your credit limit is equal to that security deposit. These accounts don’t often have rewards and may have fees, but regular, on-time payments boost your credit score over time.

Once your credit score has come up a bit, you may wish to shop around for new auto insurance. You might be able to find more affordable rates than you had in the past. Or if you really like your current insurer, let the company know your credit has improved. It may offer you a better deal to avoid losing you to a competitor.

If you still aren’t able to find a rate that fits comfortably in your budget, keep working at it. As you build your credit over time, you should open the door to lower premiums.

Our best car insurance companies for 2024

Ready to shop for car insurance? Whether you’re focused on price, claims handling, or customer service, we’ve researched insurers nationwide to provide our best-in-class picks for car insurance coverage. Read our free expert review today to get started.

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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A basket of groceries that would have cost $100 in December 2019 now runs nearly $126. Take a look at four explanations for higher prices. [[{“value”:”

The good news is that inflation continues to cool. According to S&P Global, inflation has fallen markedly this month, with the latest price data signaling that inflation will fall below the 2% target set by the Federal Reserve in the near future.

If prices are coming down across the board, why is it that the average American household is still spending so much money at the grocery store? Where is the disconnect? While there’s no single reason the cost of food remains high, here are four factors impacting prices — and your personal finances.

1. Pandemic-era demand

It all began with pandemic-related demand. Speaking with Vox, Gregory Daco, chief economist at EY-Parthenon, explained that demand jumped as people stocked up on food from the grocery store.

With greater demand came supply shortages, which led to higher prices. But that was nearly four years ago. Michigan State University Associate Professor David Ortega said pandemic-era supply chain disruptions lingered. They included:

Gas prices increased, making it more expensive for farmers and retailers to transport food across the country.Growing costs increased. For example, farmers faced higher prices for necessary supplies like fertilizer.Worker shortages meant businesses were forced to pay more for labor.

Price increases therefore made their way to consumers through higher prices at the grocery store.

2. War

The global food supply was hard hit when Russia invaded Ukraine in February 2022. Agricultural products are Ukraine’s most important export, with food products like corn, wheat, sunflower oil, and barley accounting for 41% of the country’s overall exports. While the Ukrainians have managed to continue some exports, the situation remains dicey enough to impact the global food supply.

It is feared that another war — this one between Israel and Hamas — could put another kink in the food supply. If the conflict spreads to neighboring regions, there is likely to be an increase in energy and fertilizer prices, triggering inflation across a range of products, including food.

While the Israel and Hamas conflict has not yet spread, fears that it may could be enough to impact prices.

3. Climate issues

According to the World Economic Forum, climate change is causing extreme weather, ranging from heatwaves and droughts to storms and floods. Here are three examples of how climate change ultimately impacts American checking accounts:

Extreme drought in the Mediterranean damaged olive trees and led to a poor crop. As a result, olive oil prices have hit an all-time high.A mix of drought and flooding in Italy, Thailand, India, and California has played havoc on the rice crop, impacting rice prices worldwide.Drought conditions in the American Midwest have corn and soybean growers concerned about yields. At the same time, Argentina has declared a state of emergency and agricultural disaster across regions growing wheat, soybean, and corn.

4. Manufacturer greed

According to food industry experts, the circumstances of the last few years have given food makers the cover they need to hike prices more than necessary. In charging more, manufacturers have boosted their profits and undoubtedly boosted executive bonuses.

While it is true that manufacturing costs have increased — thanks to factors like increased transportation costs, packaging, and wages — Mark Lang, an associate professor of marketing at the University of Tampa, told CNN, “They are, to me, absolutely profit taking.”

Lang added that companies are maintaining their elevated prices, or even increasing them, at a time when Americans are struggling to pay for food.

At the beginning of the pandemic, as prices for everything from hand sanitizer to auto insurance began to increase, food manufacturers were able to raise their prices, knowing it would take a while for consumers to realize prices had increased.

No one involved in the decision-making appears to feel bad. For example, here’s how two top executives responded to the question of higher prices:

When asked how Conagra was able to raise its prices without losing sales, CEO Sean Connolly said that pricing was “just too low” pre-pandemic. He went on to say that Conagra has been able to illustrate that “consumers will welcome a $4.50 unit” because at that price, a frozen meal is still a good value.Coca-Cola CEO James Quincey said, “We’ve earned the right to price with the consumers. If it can demonstrate that people will pay more for Coke, it can convince retailers that higher prices will be good for them, too.

Company CEOs made no mention of how higher prices impact the average consumer, who is forced to draw money from their savings account to cover the cost of groceries or cut back drastically on the amount of food they buy.

For consumers, the reality is this: The same basket of groceries that would have cost $100 in December 2019 will now set them back $125.51. Given the increase, we’re all looking for ways to save. Here are a couple of ideas that may come in handy:

The Flipp app can help you save money with every trip to the grocery store.If you’re not sure how you’re going to pay for food, you have options to explore.

Ideally, food prices will cool down as inflation continues to fall. In the meantime, we’ll all have to look out for ourselves and our neighbors.

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This credit card is not just good – it’s so exceptional that our experts use it personally. This card features a 0% intro APR for 15 months, 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.

Read our free review

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.Dana George has positions in Target. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.

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Owning a pet can be more expensive than you bargained for. Read on to learn more. [[{“value”:”

If you’re going to adopt a pet, you need to make sure you have a decent chunk of cash sitting in your savings account. Not only is caring for a pet a lot of work, but the cost involved might exceed the amount you initially budgeted for. So it’s important to have cash reserves to tap in case your costs come in higher than expected.

Data from SWNS Media Group reveals that as of last year, the typical pet owner spends about $4,800 annually on pet care. Of that, more than $1,200 goes toward visits to the vet.

Now, some of those visits may be totally routine. Like humans, it’s a good idea for pets to have a yearly wellness visit. And there are certain preventive medications or vaccines you may need to pay for to keep your pet healthy.

But still, you never know when a healthcare emergency might impact your pet. So it’s important to make sure you’re covered financially for that sort of situation.

Make certain to put pet insurance in place

Human health insurance usually entitles you to different types of preventive coverage. Many people, for example, are entitled to an annual physical they don’t have to pay for, because that’s covered by their insurers.

Pet insurance works a bit differently. Many pet insurance policies do not provide coverage for routine or preventive care.

Granted, some policies may have an add-on or tier that does include these benefits. But the cost might exceed what you’d otherwise pay for preventive care, so it may not be worth buying a higher-tier policy. However, the value of pet insurance is that it might protect you from the catastrophic costs that could otherwise arise when caring for your pet.

Let’s imagine your pet falls ill and needs a $2,500 surgery plus $1,000 in medication to recover and go on to live a reasonably typical lifespan. You might have some money sitting in savings that’s allocated to pet care. But do you have $3,500 you can use for that purpose? Maybe not.

And in this example, we’re talking about a single incident or illness. It’s conceivable that your pet might need medical care to the tune of thousands of dollars year after year, especially once they reach a certain age.

That’s why it’s such a good idea to put pet insurance in place. Your policy may not cover all of your pet’s medical expenses. It’s common for policies to put coverage limits in place, and you may be subject to an annual deductible you have to pay before your insurer starts picking up the tab for your animal’s care. But at least this way, you have some level of protection.

It pays to shop around for pet insurance

Whether you spend $4,800 a year to own your pet, more, or less, you should ideally be factoring that cost into your budget. So while you’re at it, shop around for pet insurance, get some quotes, choose a pet insurance company, and then incorporate the cost of your premiums into your budget as well.

You never want to be in a position where you have to choose between driving yourself into serious debt or caring for your pet. With pet insurance, that dreaded situation may be avoidable.

Our picks for the best credit cards

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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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