Money Management

Still need Christmas presents? Read on to see what great deals Amazon has in stock. 

If you’re in full-fledged panic mode because you’re nowhere close to having finished your Christmas shopping yet, worry not. With your Amazon Prime membership, you’re eligible for fast free shipping on a host of items. So as long as you make your purchases in short order, there’s plenty of time for them to arrive ahead of the holiday.

Now you may be willing to spend more money on gifts for your closest family members than the majority of the people on your list. But even so, you may want to keep your per-gift spending to under $100 so you don’t totally deplete your savings account in the course of your holiday shopping. If that’s the case, then here are some Amazon finds worth checking out.

1. A Kindle e-reader

If your mom, sister, or spouse is a big reader, they may be tired of lugging books with them everywhere they go. Enter the Kindle, Amazon’s famed e-reader.

Some models will cost you several hundred dollars, but you can find this one in denim for $99.99. It comes with 16 GB of storage and extended battery life — a single charge is said to last up to six weeks (though that’ll of course depend on usage). Plus, right now, your $99.99 Kindle purchase also comes with three free months of Kindle Unlimited, so your recipient can access extra books at no cost.

2. An Amazon Fire HD 8 Kids tablet

If your kids have been begging for tablets of their own, now’s a good time to buy one for Christmas. This tablet normally retails for $149.99, but it’s currently available for $84.99. It features 32 GB of storage space, a 13-hour battery life, and parental controls, so you can decide what content your children should and should not be accessing.

3. The Keurig K-Express Coffee Maker

Know someone special who loves their morning coffee? Heading to Dunkin’ or Starbucks every day could run up quite the hefty credit card tab.

That’s what makes this Keurig a great gift. It can make coffee for three different cup sizes and in a variety of brewing strengths, so your recipient can customize their cup of joe as they see fit. And its mint green color has the potential to add some character to any kitchen. You can snag it for $69.99.

4. The Sceptre Curved 24-inch Gaming Monitor

Have a big gamer in your life? This monitor could really enhance the experience for them. For $89.97 (a 10% discount from its usual price), you get a curved design with built-in speakers and high refresh rate that won’t slow your favorite gamer down.

This monitor can be wall-mounted or placed on a desk or table — the choice is yours. And it’s compatible with Windows 10.

5. The Fitbit Inspire 3

Maybe your brother is resolving to up his fitness game in 2023. Or maybe your high-schooler is gearing up to run cross country in the spring and could use a way to track their steps and mileage.

Either way, this Fitbit makes a great gift. And right now, it’s available for just $79.95. It tracks active minutes, heart rate, sleep, and more. Plus it includes a six-month membership to Fitbit Premium, which gives users added fitness data beyond the regular app.

These are just a handful of the numerous gifts Amazon has available for under $100. But do remember that popular products can sell out, especially in the coming weeks as more and more people attempt to tackle their last-minute Christmas shopping. So if you don’t want to lose out on Amazon’s great deals, you may want to try to finish your shopping sooner rather than later.

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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. Maurie Backman has positions in Amazon. The Motley Fool has positions in and recommends Amazon and Starbucks. The Motley Fool has a disclosure policy.

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Coming up with a last-minute holiday gift can be stressful. Here are 10 quick ideas that may spark your imagination. 

An estimated 48% of Americans begin holiday shopping before the end of October, but that’s not always possible. You may need a last-minute holiday gift for a host of reasons. Perhaps you want to thank your dog walker or mail carrier. Maybe there’s a gift exchange with a $10 spending limit, or you’re looking for a few more stocking stuffers. Whatever the reason, there are plenty of options from which to choose. Here are 10 that could be just right or inspire you to come up with something similar.

To keep it simple and help you save a few dollars, we’ve focused on items that can be picked up at Target or Walmart. If you see something you think would make a great gift, be sure to check the website to learn if it’s in stock before heading out.

Appropriate for kids of all ages

1. Books: Target and Walmart

Target and Walmart carry a wide range of books, with something for every child. Granted, new titles can be expensive, but that still leaves plenty of options under $10. Why not pick up a title you think they’ll enjoy and jot a note inside the front cover to make it extra special?

2. Board games: Target and Walmart

You can rarely go wrong with a classic board game. With Walmart prices ranging from $7.97 to $9.97 on select games like Clue, Candy Land, Connect 4, and Sorry! the prices can’t be beat. And not to be outdone, Target offers its own great selection, with many just right for little ones learning to play games for the first time.

Appropriate for kids 6 and up

3. Sharper Image® Toy RC Thunder Tumbler Remote Control 360 Spinning Car: $9.97 at Walmart

This remote control car could keep a kid busy for hours. Not only can it do a little off-roading, but it’s built for daredevil tricks like 360s, flips, wheelies, and single-tire acrobatics. It’s the one-of-a-kind fifth wheel that keeps the car up and running no matter how wild the tricks become. With built-in LED lights and a shiny paint job, it’s recommended for kids 6 and up.

4. Lip Smacker Tin – Crayola – 3pc: $8.29 at Target

Everyone needs lip balm, and who wouldn’t love this fun Crayola-themed Lip Smacker set? Each 1 oz. balm is made with moisturizing nutrients to soften the driest winter lips, all while serving up three irresistible flavors. Balms come in a collectible tin that looks like a simple box of Crayons.

Tweens and older

5. Mini Nail Polish Gift Set – Bold & Glam – 10ct: $10 at Target

This fun set of 10-0.25fl. oz. nail polishes includes seven high-gloss shades and three metallic polishes. If you know someone who would enjoy the fact that their polish can be seen from the Space Station, this may be the perfect gift for them.

Appropriate for teens and adults

6. Air Pen Diffuser Set in Crisp Mountain Air: $9.99 at Target

While it works like a regular pen, this diffuser releases a steady hint of wild mint, peppermint, and rosemary for the heady aroma of crisp mountain air. And if the recipient just wants to use it as a pen, they can slide the vents and close the scent off. It’s not just a novelty. With a comfortable grip and smooth writing experience, it’s a totally usable gift. The scent is free of parabens, phthalates, dyes, and formaldehyde. The set includes a black ink refill.

7. Gift Certificate

When you just can’t imagine what a person might enjoy, you can’t go wrong with a gift card (Target and Walmart carry them). Whether you gift them with a card to a fast food restaurant, local grocery store, video game download, or Google Play, it’s sure to be appreciated.

8. Hyper Tough 63-Piece Roll-up Ratcheting Screwdriver Set: $10 at Walmart

We know this one is not officially under $10, but it’s such a good deal we didn’t want to fail to mention it. For $10 plus sales tax, you get a 63-piece roll-up ratcheting screwdriver that’s perfect for the DIYer, new homeowner, or young driver. With an ergonomic comfort grip handle and a forward and reverse level, it’s easy to replace each of the 61 included bits. The set comes with a five-year limited warranty.

Appropriate for most ages

9. Ferrero Rocher Collection Assorted Chocolates Variety Pack: $4.90 at Walmart

This 4.6 oz. gift set may be small, but it’s packed with three Ferrero favorites — Ferrero Rocher, Raffaello, and Rondnoir. Gifting an assortment means the recipient will have three distinct tastes to enjoy.

10. Combo Gift of Mug and Hot Cocoa Bomb: Just under $10 at Walmart

We found a wide range of drinking mugs for $5 or less at Walmart, with a large enough variety of styles to fit just about anyone. Once you find a mug you like, head over to the holiday aisles to spy out the Maud Borup Milk Chocolate Hot Cocoa Bombs with Mini Marshmallows. A four-pack is $4.96, while a single cocoa bomb is $3. These aren’t just any hot cocoa bombs. They’re made with real milk chocolate, filled with mini marshmallows, and hand-decorated.

Last-minute gifts don’t have to leave you on pins and needles, not when there are so many options. Better yet, you don’t have to empty your bank account to show someone you care.

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

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Before 2023 ends, it’s important to invest as much as possible in retirement accounts and take a few other key steps. Read on to find out what those steps are. 

In 2022, around 73% of adults indicated they were doing at least OK financially. While this may sound pretty good, it’s 5 percentage points lower from 2021, and doing simply OK isn’t an ideal situation.

Now, you may or may not be happy with the money in your bank account and where you currently stand financially. But, regardless of whether you want to make many changes in 2024 or stick with the status quo, there are three crucial tasks to check off your to-do list before this year ends.

Here’s what they are.

1. Make your retirement account contributions

In 2023, you’re allowed to contribute up to $6,500 to an IRA and an additional $1,000 catch-up contribution if you’re over 50 years old. If you have a workplace 401(k), you can contribute as much as $22,500 and an additional $6,500 in catch-up contributions.

If you haven’t started depositing a portion of your paycheck into a retirement account with your employer or at a brokerage firm, it’s time to get serious about doing so. If you’ve started investing but haven’t hit contribution limits yet, now’s the time.

The good news is, if you are investing in an IRA, you have until the end of the tax year, which is the April tax-filing deadline (April 15, 2024) so you still have a little time to get your money invested. If you’re making 401(k) contributions, though, you only have until the end of the calendar year to make 2023 contributions, so you’ll need to act quickly to invest as much as you can.

To invest in your 401(k), talk with HR or your plan administration about getting set up. If you’re looking to invest in an IRA, open one online today with one of the best IRA brokers. It takes just a few minutes to complete the paperwork to open your account and set up an automatic bank transfer.

Ideally, you’ll hit your contribution goals and invest the maximum allowable amount, but many people can’t do that. Even if you invest a little bit, though, it can go a long way toward growing your balance over time.

2. Use up your FSA funds

If you have a flexible spending account (FSA) at work, you usually have to use the money by the end of the year or within the first few months of the next one. FSAs allow you to contribute with money you haven’t paid taxes on and use it to cover qualifying medical expenses — which is a great deal if you use the money.

If you have a lot of funds in your FSA account, use it up before you lose the funds for good. There are many things you can spend the money on including:

DeductiblesCopaysPrescriptionsOver-the-counter medicationsMedical equipment such as bandaids

See about scheduling some end-of-the-year checkups, filling a few prescriptions early, or just picking up some cold medicines to use up your FSA money before it’s lost for good.

3. Participate in open enrollment

If you buy insurance coverage on a federal or state health insurance marketplace, your open enrollment period spans Nov. 1 through Jan. 15. If you get insurance through an employer, chances are good you’ll also have open enrollment around this time of year.

Open enrollment is your chance to shop for health insurance. Read about the different plans available to you, including which doctors are in network, and what your deductibles, premiums, and copay will be, and make sure you have the right coverage.

By checking these three things off your to-do list by year’s end, you can make sure you’re in great shape to move forward into 2024 in a way that sets you up for success.

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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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Has your inbox been overflowing with marketing emails lately? Keep reading to see what opportunity you should take advantage of right now. 

It’s the most wonderful time of the year — when every online business you’ve ever spent money at comes out of the woodwork and fills your inbox with holiday sale emails. For me, the floodgates opened the week before Thanksgiving, and I received dozens of teasers about the sales to come.

It’s now been over a week since Thanksgiving, and my inbox may never recover from the onslaught of pre-Thanksgiving, Black Friday, Cyber Monday, and Giving Tuesday emails. And these emails seem to have worked; according to Axios, Americans spent $16.4 billion on Black Friday online shopping this year — an increase of 9% over last year.

But I have found a little money-saving move amongst all these emails. Here’s why you should follow my lead and take this opportunity to cut down your spending for the rest of the year — and beyond.

Hit that unsubscribe button!

If you take the time to open those shiny sales emails and scroll to the bottom, you’ll find a link to unsubscribe from the list. It’ll probably be in tiny print, but by law, it’s required to be there. The CAN-SPAM Act of 2003 mandates that businesses that use email marketing give consumers a way to opt out of receiving those communications, and violating the act can come with hefty penalties.

So receiving all these messages over the last few weeks has a silver lining. I don’t have to rack my brain to remember all the many (many) online retailers I’ve ordered from over the last several years and attempt to remove myself from their lists, or wait for marketing emails that may come on an irregular schedule. Instead, I’ve been opening these emails as they arrive and clicking “unsubscribe” at the bottom. From there, I usually have to check (or uncheck) a box, and perhaps re-enter my email address. But after that, I’m off that email list and no longer have tempting marketing emails from that company in my inbox.

If you’ve just been deleting the emails, good news — at this point, they’re likely still hanging out in your trash folder. So if you’ve got a little time this week, hop in there and unsubscribe from as many as you can. Your checking account will thank you, and you’ll head into 2024 with less temptation to buy yourself “a little something” (or a big something).

Wait, what if I like getting coupons and sales communications?

I get it. I’m a fan of online shopping too, and having these marketing emails show up in my inbox is perhaps the easiest way to stay abreast of sales and find coupon codes. Here’s the thing though: Buying an item you don’t need and weren’t specifically seeking, just because it’s on sale and/or you have a coupon code, is a terrible idea. Marketing emails are designed to compel you to spend, and as someone who has definitely fallen prey to them in the past (and let’s be honest, I probably will in the future, too), they work.

You don’t have to unsubscribe from all the marketing emails you’ve received over the last few weeks. But I’m willing to bet that you could remove yourself from at least half of those email lists and not even feel it. If there’s a retailer you order from often and you enjoy receiving its emails, don’t unsubscribe. But for future online purchases from other retailers, follow the online shopping strategy my colleague Natasha Etzel advocates: She uses coupon codes to save money, and notes that you can find them via a Google search as well as by using coupon apps.

By unsubscribing from as many marketing email lists as you can stand right now, you can set yourself up to save money for the rest of 2023, and perhaps even more in 2024. And if you’re not quite done with your holiday shopping, don’t let email marketing guide your buying decisions — or put you into credit card debt.

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

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Changes to tax deductions may take a lot of the pressure off buying or selling a home before the end of the year. Find out whether it might make sense for you. 

There are all kinds of pieces of accepted wisdom about homeownership that turn out to be more complicated in real life. For example, people say you can get a better deal if you buy a house at the end of the year. The thinking is that prices will be lower because of potential tax advantages, less competition, and sellers who really want to get the deal done.

In reality, there are many other factors to consider. For starters, there are also disadvantages to buying in December, such as fewer sellers and challenges with home inspections. Plus, wider economic issues (like what’s happening with mortgage rates) can have a bigger impact on the total cost of buying a home.

Let’s unpack two of the biggest reasons people say the end of the year might be a good time to buy and see if they stand up to closer scrutiny.

Reason 1: Home prices drop at the end of the year

If you’ve been battling to afford a house this year, the idea of even a slight dip in prices might make it worth keeping all the home-buying chores on your already packed holiday season to-do list.

It’s certainly true that house prices historically dip in December and January. Data from the National Association of Realtors shows a drop in both activity and home prices every winter. Even so, Fannie Mae’s latest survey into home buyer sentiment showed a record 85% of consumers think now is a bad time to buy a home.

The current mortgage rates really are a double whammy for potential buyers. Not only do high rates mean buyers have to contend with higher total costs and monthly payments, it also creates a tighter inventory since many sellers with low locked-in rates don’t want to move. Redfin’s latest data showed that median house prices are up 4% over last year.

The good news is that Redfin’s data also showed a drop in the average monthly mortgage payment. For the four weeks ending Nov. 26, it was at $2,575 — down from October’s all-time high of $2,739. But this isn’t because of a year-end drop in house prices. It’s because mortgage rates have fallen slightly. And interest rates are not seasonal.

What a difference a percent makes

Use a mortgage calculator to experiment with different figures and see the impact changes in prices and rates can have on your housing costs. If you look at the tables below, you’ll see that the total costs on a $360,000 home with an interest rate of 7.0% are almost the same as the costs of a $340,000 home at 8.0%.

$340,000 home ($80,000 down payment and 30-year fixed-rate mortgage)

$360,000 home ($80,000 down payment and 30-year fixed-rate mortgage)

If you’re trying to buy a home, the challenge is that we don’t know what will happen next year. Some experts predict that mortgage rates will fall. Even if they do, this could trigger a flux of buyer demand. If there isn’t a corresponding jump in potential sellers, this could result in even tighter inventory, pushing home prices up. Ultimately, there’s no right or wrong time to buy — a lot comes down to your needs and your finances.

Reason 2: There are tax benefits to buying a house at the end of the year

To be clear, there used to be decent tax benefits to buying or selling a house before the end of the year. But for many Americans, this is no longer the case. The way standard and itemized deductions work has changed, wiping out a lot of the potential savings.

The 2017 Tax Cuts and Jobs Act made itemizing — which is the only way to get the various homeowner tax benefits — a lot less attractive. The legislation significantly increased the standard deduction and capped the amount you could itemize on property taxes. As a result, many people stand to gain more by claiming the standard deduction. This, in turn, has reduced the pressure to do home deals in December.

Do itemized deductions make sense for recent home buyers?

If you’re wondering whether itemizing might make sense for you or what tax advantage you might gain by buying in this tax year, you need to do the math. The IRS allows homeowners to deduct certain state and local property taxes, mortgage interest, and mortgage points. You can also deduct other costs, such as medical expenses and charitable donations.

If you’re a first-time home buyer, the biggest potential win in terms of deductions will be any mortgage points you pay. If you buy in December, the seller will already have paid the majority of the year’s property taxes. You also won’t have a lot of mortgage interest to deduct.

Everything tax related comes with a bunch of caveats and addendums. But to give you a very simplified example, let’s say:

You buy a house before the end of the year and pay $6,000 in mortgage points to your mortgage lender.You pay $400 in taxes and another $1,800 in your first mortgage payment.You’ve also made $3,000 in charitable donations this year.You have $6,000 in deductible medical and dental bills.

This brings the total to $17,200. It is significantly less than the 2023 standard deduction of $27,700 for married couples filing jointly. That goes up to $29,200 in 2024. Put simply, many people will struggle to get enough itemized deductions to beat that figure, which reduces the pressure for a December property deal.

Bottom line

Don’t listen to generic advice that tells you to buy just because it is December. Not only do current market conditions have more impact than broad seasonal ones, what matters most is whether you are financially ready to buy a house. That means having a solid emergency fund, a good credit score, a dependable income, and enough money saved for a down payment.

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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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On the fence about a Costco membership? Read on to see why it could pay to sign up in the new year. 

I’ve been a Costco member since moving to the suburbs, and I can honestly say that my membership has resulted in a ton of extra money in my savings account through the years. But some of my friends only joined Costco more recently, and some, to this day, still aren’t members despite having larger families.

I can totally see why a Costco membership isn’t for everyone. But if these factors apply to you, then you may want to at least consider one for 2024.

1. You’ve moved to a larger home with more storage

I used to live in a studio apartment with a closet so tiny I could barely fit my modest wardrobe. As such, I can totally relate to not having room to store the bulk items Costco is known for.

But if you’ve recently moved and gotten more living and storage space out of the deal, then it may be time to reconsider a warehouse club membership. Shopping at Costco could save you a lot of money on things like cleaning supplies, toilet paper, and laundry detergent. And while you definitely wouldn’t want to house a 30-pack of toilet paper in the middle of your living room, if you now have a large hallway closet, buying something like that in bulk may be more feasible.

2. You’re committed to cooking more in the new year

Many people make New Year’s resolutions that are financial in nature. And one of yours may be to cook more so you’re able to spend less on restaurants and takeout.

If that’s the case, then it pays to consider a Costco membership for the grocery savings alone. As just one example, a two-liter bottle of Kirkland (Costco’s signature brand) extra virgin olive oil is $18.99 online. And you’re likely to find an even lower price at your local warehouse club store. By contrast, you might pay almost that much for a little more than one liter at a regular supermarket.

3. Your kids are growing — and so are your grocery bills

When my kids were younger and snack time would arrive, I’d bust open one single-serving bag of cheese crackers and have them split it. Nowadays, that won’t fly. Instead, I’m lucky if I can get away with each child only eating one full bag and not requesting a second.

If your kids are getting older, you may find that you’re spending more money than you used to on grocery purchases. Shopping at Costco could help you eke out savings via bulk discounts. And if you have a lot of mouths to feed, chances are you’ll get good use out of those bulk purchases and won’t let that food go to waste.

A Costco membership isn’t for everyone. But one thing you should know is that if you find yourself unhappy with your decision to get one, you can cancel and get a prorated refund at any time. So if you think you might benefit from joining Costco in the new year, then it pays to at least give it a chance and see what happens.

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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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