Learn how to make the process of selling your home smoother and more lucrative for you. Asier Romero / Shutterstock.com
Editor’s Note: This story originally appeared on Point2. We often talk about how buying a home is one of the most complicated transactions you’ll ever make. But, selling one isn’t much easier, and there are many mistakes first-time sellers might make that can cost them thousands of dollars, not to mention a lot of stress. From stiff competition to last-minute viewings…
‘Tis the season — for frauds and scams. Keep reading for the best ways to ensure your money goes toward gifts and not to thieves.
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I’m betting that you’re deep into the weeds of holiday shopping right now, alongside many Americans. It’s unfortunate, but the holiday season brings many opportunities for fraud and scams that result in lost money and plenty of headaches for shoppers.
According to data from CivicScience, 87% of us intend to do at least some of our holiday shopping online this year, up from 84% in 2022, so it’s more important than ever that you know how to avoid falling victim to holiday shopping fraud. If you stroll into your local Costco warehouse to buy gifts, the whole process is pretty straightforward. But if you shop online, especially with retailers you’ve never bought from before, things can get hairy.
Here are a few moves that can keep you from getting ripped off by thieves and scammers.
On your hunt for the perfect gift, you may find yourself in some corners of the web you’ve never visited before. Wouldn’t it be great to know ahead of time whether a website and its products are legitimate before you make a purchase? This is where doing your research comes in.
I don’t worry much when I buy from Amazon, Target, or another major retailer, but before I provide payment information to a site I’ve never used before, I type “(website or company name) scam” or “(website or company name) review” into Google, and see what comes up. If you see red flags in the form of complaints, you’ll know not to buy from that site.
Hands down, the safest way to make your holiday purchases, be they online or in person, is with a credit card. Credit cards are a very secure way to pay because they come with robust fraud protections, and the top credit card issuers have exemplary customer service you can lean on whenever there’s a problem with your card — or you notice a suspicious charge you didn’t make.
Plus, credit cards aren’t directly linked to your checking account, which means that if you make a purchase with one that you don’t end up receiving, you’re not out any of your own money until you pay your credit card bill. If you don’t receive the item you bought, or you receive the wrong item altogether, you can file a dispute with your credit card company.
If you use social media, you’ve probably seen targeted ads for products that are likely to appeal to you based on your age, location, and other demographic information collected by that social media website (try not to think about how creepy this is; it’ll just keep you up at night). If a given ad appeals to you, you might click the link, proceed to what looks like a legitimate e-commerce website, and provide your credit card information.
If you actually receive the product you ordered (not a guarantee), it might look nothing like it’s supposed to. In some cases, the images you saw might even be entirely fake. So if your favorite social media app serves up an ad for something that looks like the perfect gift, see if you can find it on another part of the web (and ideally, offered by a seller you’ve heard of). Play it safe, and don’t buy it via social media.
You know the old adage about if something seems too good to be true, it probably is? Well, this is never more accurate than when holiday shopping. If you’re looking online for the best price on a hot holiday item, you should be suspicious if you see that toy or video game available for far less money on one website than on others.
And if you’ve never heard of that retailer, it’s best to avoid this “deal,” as you might find yourself receiving a counterfeit version of the item you ordered — or perhaps the item will never arrive at all.
This is the time of year when thieves can have a field day grabbing packages off your front steps. As such, be on the lookout for these “porch pirates” as you order holiday gifts. There are a few ways to keep your items from being stolen, thankfully. If you work from an office that has an entrance for delivery people, and it’s okay with your company, make work your delivery address. I used this technique for years before I switched to remote work.
Now that I generally work from home, I have packages sent there. To cope with the fact that I live in a second-floor apartment, I sign up for email and text tracking alerts for packages. That way, I get pinged when a box hits my porch, and I can immediately retrieve it. Doorbell or other home security cameras can also be an asset for ensuring your packages aren’t stolen.
The holiday season can be a boon for thieves and scammers of all kinds. Lean on these tips to steer clear of them and their tricks.
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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.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Alphabet, Amazon, Costco Wholesale, and Target. The Motley Fool has a disclosure policy.
You don’t want to let your FSA balance go to waste. Read on for some lesser-known expenses you can use your money for.
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When setting money aside for healthcare expenses, you have a choice. You could simply pad your regular savings account so you have funds to tap as medical bills arise. Or, you could contribute to a flexible spending account (FSA).
The upside of funding an FSA is that your money goes in on a pre-tax basis. So if you contribute $1,200 to your FSA, that’s $1,200 of income you won’t pay the IRS taxes on.
The problem with FSAs, though, is that they tend to work on a use-it-or-lose-it basis. You generally have to commit to an annual FSA contribution ahead of a new calendar year, and you can’t make changes to it unless you undergo a qualifying life event, like a marriage or divorce.
Meanwhile, some FSAs allow you to carry a limited amount of money from one year to the next. Others come with a grace period that allows you to use up your balance a few months into the new year. But if your FSA doesn’t have these features, and you still have a nice chunk of money sitting in that account, then you may be at risk of losing it.
That, however, is something you really don’t want to do. A better bet is to find creative ways to use up your balance. Believe it or not, the following items are considered FSA-eligible expenses.
If it seems as if you’re the only person you know without a Fitbit, or a similar fitness tracker, you may be in luck. In some cases, a fitness tracking watch or device might count as an FSA-eligible expense. However, for this to happen, you’ll need a doctor to provide you with a letter of medical necessity speaking to that need. A doctor may be willing to do this if you’re considered medically overweight or have a condition that can be managed by exercise.
Like it or not, we’re now deep in the throes of cold and flu season. And with that might also come winter allergies. The good news is that you can use your remaining FSA funds to pay for over-the-counter cold and cough remedies, including decongestants and nasal sprays. You can also use your balance to load up on throat lozenges.
You may be aware that you can use your FSA to pay for contact lenses, as well as prescription eyeglasses and sunglasses. But if you’re all set in that regard, you can use your balance to pay for contact lens solution. You can also use your FSA to purchase drops to alleviate dry eyes — a condition that can pop up for contact lens wearers.
Women are often forced to shell out a huge sum of money to deal with a matter of recurring monthly biology. If you have a lingering FSA balance you need to use up, stock up on tampons and pads. Those count as eligible expenses.
Given that many parts of the country are already seeing their fair share of snow, you may not exactly be planning for your next beach outing right about now. But you should know that sunscreen is considered an FSA-eligible expense. So if you have extra money to use up, you might as well stock up. This is an especially good idea if you have kids who tend to go through sunscreen quickly during the summer thanks to pool outings and camp sessions.
The last thing you should do is give up money that’s rightfully yours. If you don’t have prescriptions to refill in the coming weeks or medical appointments to attend, then consider making the above purchases to spend down your FSA balance before 2023 comes to an end.
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There’s little reason to pay for this information — unless you suddenly need to check an entire car fleet. Dusan Petkovic / Shutterstock.com
When you buy a used car, you don’t want to take the seller’s word about its condition and history. That’s why many people do a check using the vehicle identification number, or VIN. A VIN is like a Social Security number, but for a car instead of a person. It’s a unique identifier. A VIN check can reveal a car’s age, make, model and trim, safety recalls, registration and insurance history.
The holiday shopping season is the most wonderful time of the year — for scammers. Learn how to beat them and keep your holidays merry and bright.
Image source: Getty Images
Gone are the days when you had to do all your holiday shopping in person. Thanks to the rise of the internet, you can buy gifts for the people you love from the comfort of your couch. According to data from CivicScience, a whopping 87% of U.S. adults plan to buy at least some gifts online this year (up from 84% last year). Since the odds are good you’re in that group, let’s review a few tips to keep clear of online shopping fraud and scams.
Want to take advantage of purchase protections, as well as have the opportunity to earn cash back or rewards points on your holiday gifts? Then I recommend using a credit card. Credit cards are an incredibly secure way to pay. They’re not linked to your checking account like a debit card is, and they have much more robust consumer protections against fraud. Plus, making purchases on a card can make it easy to track how much you’re spending, and you can build credit in the process.
Social media has become a part of everyday life for a lot of people, and of course, scammers know this. One way you might fall prey to their tricks is via ads for products you see on Facebook, Instagram, or TikTok. Social media marketing has gotten incredibly specific, but if you spot what looks like the perfect gift being advertised on your feed, it pays to approach it with caution.
You could be buying an item that doesn’t actually exist and is never delivered, so you’re out the money altogether. Or you might receive something, but it’s not what you ordered, and the images of it you saw on social media were generated by AI and not at all based on fact.
In short, it’s best to avoid buying items you see advertised on social media, unless you can do some independent research. I recommend googling “‘company or product name’ scam” or “‘company or product name’ review” and checking out what comes up.
If your neighborhood is anything like mine, you’ve been seeing a lot more UPS, FedEx, and Amazon delivery trucks lately as people do their shopping online and items are delivered. More packages on porches means more attractive targets for “porch pirates,” or the people who steal boxes and padded envelopes full of holiday gifts.
Get ahead of them by signing up to receive tracking alerts so you know when items will arrive. If you work away from home and delivery people have access to the building (and it’s OK with your company), another technique to cope is to have packages delivered to your office. If you have a doorbell camera, keep an eye out for deliveries when you’re home so you can bring items inside.
And if you know you’ll be away when a package is delivered to your home, ask a kind neighbor to keep it safe for you in the meantime. Former neighbors of mine once gave me a loaf of banana bread in exchange for bringing their huge new TV inside when it was delivered on a day when they were out. What could be better than kindness and baked goods?
Finally, it’s best to take all deals with a grain of salt. If you’re googling or checking a price comparison app and spot an amazing price on the season’s hottest toy that seems too good to be true, yeah, there’s probably a catch there. Maybe the item is counterfeit, or that retailer isn’t actually selling the item at all, and if you plunk down your credit card information to buy it, you won’t receive anything in the mail.
Thankfully, if you used your credit card (like we discussed above), you can file a dispute with your card issuer and ideally, won’t be out any money. But by shopping smart and not taking what seems to be an excellent deal at face value, you can reduce the likelihood that you’ll fall victim to a holiday shopping scam.
This is an incredibly expensive time of year for many people — research from Gallup found that Americans intend to spend an average of $923 on the holiday season this year. If your expected holiday tab comes anywhere close to that amount, it’s a safe bet that you want the money to go toward gifts, food, and good times. So use the above tips to ensure scammers don’t bilk you out of your hard-earned cash.
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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. The Motley Fool has positions in and recommends Amazon. The Motley Fool has a disclosure policy.
Should you plan to invest in 2024? Read on to find out.
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As of this writing, it’s pretty fair to say that 2023 has been a decent year for the stock market. The S&P 500 index, which is generally considered a measure of the broad market’s performance, is up 19% year to date. That’s after a fairly volatile fall that had many investors bemoaning some on-screen losses in their brokerage accounts.
But what should investors expect from 2024? Will the market perform well, or will the coming year be a rocky one?
In the absence of a crystal ball, it’s really hard to know. On the one hand, 2024 is an election year, and that alone could spark some volatility. But volatility doesn’t always translate to losses.
It’s a good idea to plan to invest in 2024. But you’ll want to do so with the right attitude and approach.
If you’re not sure whether you should plan to invest in 2024, consider the fact that any year could be considered a good year to invest. If stock values fall in 2024, it’ll be a good time to scoop up shares of quality businesses at a discount. And if stock values remain high, that’s not a bad thing, either, because if you hold your investments for many years, there’s a good chance they’ll gain value over time.
That said, if you’re going to invest in 2024, or at any other point, for that matter, you’ll need to take the right approach. That means planning to hold onto your stocks for many years.
If you invest to make a quick buck, you may end up sorely disappointed. You could end up setting yourself up to lose money, not make money. However, if you plan to invest for the long haul, you might be nicely rewarded over time.
Over the past 50 years, the stock market’s average return has been 10%, as measured by the S&P 500. This doesn’t mean that every year over the past five decades has been a stellar one for the market. Rather, it means that over time, the market has delivered a fairly impressive return accounting for both strong years and weak ones.
So let’s say you invest $5,000 in a bunch of S&P 500 stocks or ETFs in 2024. If your portfolio delivers that same 10% yearly return over time, then after 30 years, you’ll be sitting on over $87,000.
If you’re going to invest in 2024, there’s another key thing to do — make sure to load up on a nice mix of stocks. If you invest all of your money in a single company or industry, you may not end up with the results you’re after.
Let’s say you opt to focus on auto stocks, only the auto industry experiences a major shakeup in the coming year that causes share prices to plummet. Granted, you could argue that it’s not a big deal if you’re investing on a long-term basis. But still, you want to bake in some degree of short-term protection, too, because you never know when you might need to liquidate stocks to free up cash. So make sure to branch out into different segments of the market.
Another easy way to diversify? Buy a bunch of S&P 500 ETFs, which give you exposure to hundreds of stocks with a single investment.
It’s hard to say whether 2024 will be a strong year for the stock market, an average year, or a poor year. But if you’re wondering whether 2024 is a good year to invest, the answer is a resounding yes, no matter what actually happens.
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