Money Management

Shopping for kids’ gifts can be overwhelming, but it doesn’t have to be. Take a look as we break down 10 of the best gifts to find at Walmart. 

It’s the same story every year; holiday shoppers rush out to buy that hot new kid’s gift, only to learn that it’s sold out. Don’t worry, though. A quick check on eBay shows that someone in Peoria or Sarasota has a few and is willing to sell you one for triple the price.

The most popular gifts don’t tend to linger on shelves. If there’s something the child in your life wants, now is the time to pick it up without draining your bank account to buy it from an online reseller.

The Today show recently interviewed the Chief Toy Officer at The Toy Insider to learn which gifts are likely to be red-hot this holiday season. Working from that list, we checked with Walmart to get an idea of availability and cost for this year’s most popular items.

1. Furby Coral Plush Toy: $46.99

Appropriate for ages: 6 and up

Available: Online and in select stores

Twenty-five years after the original Furby was released, a new version is available. The Furby plush toy is as delightful (or obnoxious) as ever. Kids press Furby’s heart to make it listen, then command it to sing, chat, laugh, and otherwise act silly.

2. Sharper Image® Laser Tag Attack Pack 2-Player: $27.97

Appropriate for ages: 8 and up

Available: Online and in select stores

Whether they’re playing outside or running through the house on a snow day, kids love laser tag. This Sharper Image® version includes two mini cannon x-blasters. What’s cool about this set is that it’s compatible with all existing Handtank Laser Tag products sold by Sharper Image®. That way, the ultimate setup is customizable.

What’s more, up to seven teams can play at the same time.

3. Bitzee Interactive Digital Pet: $24.97

Appropriate for ages: 5 and up

Available: Online or in-store

Interactive digital pets are huge this year. Like a real pet, these digital pets start out as babies and, with enough love and care, begin to grow. The more a child plays, the more pets they will unlock (up to 15).

4. Hot Wheels City Ultimate Hauler: $55.99

Appropriate for ages: 4 and up

Available: Online or in-store

If a child in your life is equally obsessed with dinosaurs and cars, they’re sure to love this ultimate hauler. More than 20 Hot Wheel vehicles fit in the hauler, but the fun part is how they get there. Pulled by the handle, the “dinosaur” gobbles up any 1:64 scale car in its path. With lights, sounds, and a two-lane race track, it’s a toy that allows kids to move from one activity to another.

5. Barbie The Movie Collectible Doll: $24.97

Appropriate for ages: 3 and up

Available: Online or in-store

It wouldn’t be 2023 if Barbie wasn’t one of the most popular toys in the country. Sure, she’s wearing a classic pink and white gingham dress and pink pumps, but she’s not just a pretty face. Barbie is an independent woman with a mortgage and a rockin’ house of her own.

6. Barbie The Movie Ken Doll: $24.97

Appropriate for ages: 3 and up

Available: Online or in-store

Historically, wherever Barbie was, Ken was not far behind. That’s so pre-2023, though. Today’s Ken knows he’s enough on his own and doesn’t need Barbie to make him whole. Dressed in his beachy best with pastel pink and mint green shorts and shirt, Ken has come into his own.

7. Make It Real™ Mini Pottery Studio: $22.49

Appropriate for ages: 8 and up

Available: Online only

Another great gift for a day home from school is this mini pottery studio. Kids age 8 and up are sure to enjoy working on 10 different projects. And if you have a tween who rolls their eyes at any craft idea you come up with, you may be surprised by the masterpieces they create.

If that weren’t enough, the mini pottery studio makes no noise, requires no baking, and doesn’t make a mess.

8. Clue Conspiracy Board Game: $24.97

Appropriate for ages: 14 and up

Available: Online and in-store

If your teenager is the super-competitive type, you may want to practice this game while they sleep. This game is a bit like old-school Clue on steroids. It has deadly traps planted throughout the “resort,” one player is armed and dangerous, players secretly sabotage each other, and fibbing is expected.

9. Clue Escape: The Midnight Hotel Escape Board Game: $16.84

Appropriate for ages: 10 and up

Available: Online and in-store

Although we just highlighted another game from the makers of Clue, this one is so unique we had to include it. Like a traditional escape room, this game gives kids the clues they need to “escape” the Midnight Hotel, a Tudor mansion where a murder has just taken place. If you can talk the kids into saving it for a family game night, it’s perfect for up to six players.

While $17 may seem expensive for a game that will only be played once, the time spent having fun is priceless.

10. Battleship Royale Party Board Game: $19.82

Appropriate for ages: 8 and up

Available: Online and in-store

If you played Battleship as a kid, you probably remember sitting across from one other player. What’s fun about this version is that up to six players can play at one time. Just like the original, though, only one player wins.

Whether your child likes solitary play or would rather be with a group, Walmart has gifts for everyone. And the good news is, with some careful shopping, you can avoid pulling out a credit card to pay for them.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR for 15 months, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. 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 Walmart. The Motley Fool has positions in and recommends Walmart. The Motley Fool has a disclosure policy.

 Read More 

You Need a Budget is a well-rated budgeting app, but it’s a pricey subscription. Here’s how college students can get a free one-year trial of YNAB. 

It is beneficial to learn personal finance skills early in adulthood. Knowing how to responsibly manage your money, establish and follow a budget, pay your bills on time, and set and achieve financial goals can set you up for success throughout your adult years.

For many young adults, college is their first time learning money management skills. But it’s not easy to learn these skills without guidance. Budgeting apps can provide much-needed help.

College students who want to learn how to budget their money can take advantage of a free one-year You Need a Budget trial. Here’s how to get a one-year free trial of this popular app.

What is You Need a Budget?

You Need a Budget is a popular budgeting app. The app follows a zero-based budgeting approach using the envelope method. Users learn how to put every dollar they earn to work — whether it’s to pay for everyday expenses, pay down debt, or save for future purchases.

Users budget for different spending and savings categories, so every dollar they earn has a job. As everyday expenses occur, money is already budgeted and ready to be used. If an unexpected expense comes up later, users can pull money from another budgeted category to cover the cost so they can avoid debt.

Many people of all ages find this app a helpful budgeting solution. A digital approach to budgeting can make the process feel friendlier, especially for younger users. But, this is a paid app, so users must be prepared to spend some money if they want to use this tool.

How to get a yearlong You Need a Budget trial for free

You Need a Budget is a paid budgeting app that costs $14.99 monthly or $99 annually. You’ll save money if you can pay the annual price upfront (almost $80). Since many college students have limited extra cash in their bank accounts, it can be challenging to afford a pricey paid app subscription.

But there’s some good news if you’re in college and want to improve your money management and budgeting skills. College students are eligible for a complimentary one-year free You Need a Budget trial.

This offer applies to all college students, whether you’re a part-time or full-time learner, an undergraduate student, or a graduate student. To take advantage of this deal, visit the free YNAB for college students page to verify that you’re a student and create an account.

You’ll need to prove you’re a student by uploading a document issued by your college or anniversary that shows you’re currently enrolled. The document must include your name, the school name, and the date. Acceptable documents include student ID cards, transcripts, and tuition statements.

All students can claim one free year of a You Need a Budget subscription. After the one-year free trial, users must subscribe at the standard rate. If you’re a college student who wants to learn valuable money management skills but can’t swing the subscription expense, this deal may be for you.

If you want to explore budgeting app alternatives, review our list of the best budgeting apps. There are also other solutions available that can help you improve your financial knowledge. For additional tips, check out our free personal finance resources.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR for 15 months, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. 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.The Motley Fool has a disclosure policy.

 Read More 

Missing out on tax breaks can cost you five figures. Find out how one mistake could cost me over $11,000. 

I did all the right things, or so I thought. I spent low and saved high. By the end of this year, I’d have invested more than $6,500 into my brokerage account toward retirement. My totally normal, 100% taxable brokerage account. (Did I mention taxable? It’s worth repeating.)

Turns out, I’ve been missing out on a one-of-a-kind investment opportunity. The tax-free kind. In fact, there’s a special brokerage account you can use to save toward retirement called an individual retirement account (IRA). With IRAs, you get special tax privileges.

The catch is you’ve got to leave profits in the account until you retire, with a few exceptions. And you’ve got to take advantage of it. Which brings me to the one $11,000 mistake I won’t be making again in 2024.

The $11,000 mistake

Here’s the thing: I could be saving my future self a lot more money by investing in a Roth IRA.

The opportunity cost of investing in a regular brokerage account instead of maxing out my Roth IRA is $11,000. To reach that number, I started with the $6,500 IRA contribution limit, assumed a conservative average annual return of 6.5%, and assumed an investment horizon of 40 years.

Here’s about how much money I’d get after withdrawing from each account in 40 years:

Individual retirement account (Roth IRA): $80,704.48Regular brokerage account: $69,573.81

Why the regular brokerage account number is smaller: Retirees pay a capital gains tax when withdrawing funds from a regular brokerage account. For the purposes of this example, I assumed I’d be taxed 15% of profits, a fairly common rate for earners in my income bracket.

Math behind regular brokerage account calculation: I took the compound investment total of $80,704.48 and subtracted the initial $6,500 deposit to calculate my profits: $74,204.48. From that I subtracted a 15% capital gains tax ($11,130.67) to calculate post-tax profits: $63,073.81. I added the $6,500 initial deposit to my $63,073.81 post-tax profits to calculate my total withdrawal amount: $69,573.81. After taxes, I’d get just $69,573.81 from my regular brokerage account.

Retirees do not pay capital gains tax when withdrawing funds from a Roth IRA. That’s one big reason why investing in a Roth IRA can save you thousands of dollars.

What will be different in 2024

I’ll be maxing out my Roth IRA in 2024 to eliminate that $11,000 opportunity cost.

The maximum amount you can contribute to an IRA is rising from $6,500 to $7,000 in 2024, so the opportunity cost of investing in a taxable brokerage account will be even higher. I think I’ll pass on making the same mistake two years in a row, thank you very much.

Losing out on easy tax breaks sucks. But it’s fixable. And the solution is straightforward: Use tax-advantaged retirement accounts while you can and when it makes sense. It can seem like a small, insignificant thing — and end up saving you $11,000.

One $1,000 caveat

Failing to use an IRA wasn’t my first investing mistake; not even close. After the 2020 stock market crash, I dabbled in margin investing — borrowing money to purchase stocks — only for the value of my holdings to plummet 50% when growth stock valuations were slashed. I needed cash to avoid getting called on margin, so I made the mistake of cashing out my 401(k).

That’s the thing about retirement accounts. They’re great for one thing: retirement. Being 25 and very much employed, I was forced to pay a 10% early withdrawal fee and lost my retirement account tax advantages. Of the $5,000 I withdrew, I ended up with less than $4,000. Months of contributions, gone, just like that. Staring at my account balance, I was flabbergasted.

IRAs are great if and only if you respect the spirit of the investment. Early withdrawals may cost you — it only takes you one minute of poor decision-making to lose 20% of your retirement savings. It’s also the sort of lesson you only need to learn once.

Our best stock brokers

We pored over the data and user reviews to find the select rare picks that landed a spot on our list of the best stock brokers. Some of these best-in-class picks pack in valuable perks, including $0 stock and ETF commissions. Get started and review our best stock brokers.

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.

 Read More 

Welcome bonuses are one of the most valuable credit card benefits. Here’s why a card issuer could deny your sign-up bonus. 

Sign-up bonuses are a popular credit card perk because of the value they offer. It would normally take a long time to earn hundreds of dollars in cash back or 50,000 points. Many of the top sign-up bonuses are worth that much or more — I’ve earned some worth over $1,000. And you can earn them in a matter of months.

The rules for sign-up bonuses vary. With most of them, the welcome offer consists of a bonus amount, a spend requirement, and a time limit. For example, earn 60,000 points for spending $4,000 on purchases in the first three months. It’s normally a straightforward process.

However, there are several reasons why a credit card company could decide not to pay out your sign-up bonus. It’s good to be aware of these so you don’t miss out on a valuable bonus opportunity.

1. You didn’t meet the spend requirement in time

Credit card companies are strict about sign-up bonus requirements. If you need to spend $4,000 in 90 days, and you do it in 92 days, you’re probably not going to receive the bonus.

That’s why meeting the spend requirement within the time limit is a must. Here are a few suggestions to help with that:

Make sure you can reach the spend requirement before applying for the card. If it’s much more than you usually spend, you’re better off picking another card. Or, wait to apply until you have some big purchases to make.Keep track of your progress. Some card issuers include a bonus tracker in your online account. If yours doesn’t, you can track this yourself by monitoring your credit card spending. You can also call or send a secure message to customer service at any time to check how much you’ve spent and the deadline to earn the sign-up bonus.Don’t cut it too close. Try to meet the bonus requirements at least a week or two before the deadline. If you’re still trying to spend enough at the last minute, there’s the risk of transactions not posting to your account right away and not counting toward the requirements.

2. You aren’t eligible for it

Sign-up bonuses have eligibility rules, which depend on the card issuer and the card. For example, if you’ve already had a credit card before, you may not be eligible for its sign-up bonus a second time. Or, there may be a waiting period. Some credit cards have terms and conditions stating that you’re not eligible for the sign-up bonus if you already had that same card within the last 48 months.

If you’ve had a certain card before, or one from the same product line, check the bonus terms before you apply. Confirm that you’re eligible first to avoid any disappointment later.

3. You expected the annual fee to count toward the spend requirement

Annual fees rarely count toward sign-up bonus requirements. The bonus terms normally specify that you must spend a minimum amount on purchases. Any type of credit card fee isn’t a purchase.

It’d be nice if annual fees helped reach spend requirements, especially with those premium travel credit cards that cost $450 or more. Unfortunately, this isn’t the case. If you want to double check, review the bonus terms for the card you’re interested in.

4. You made ineligible purchases

Many credit card companies also have exclusions on certain types of purchases. These purchases don’t count toward the spend requirement on a sign-up bonus.

In most cases, it’s cash-like and cash equivalent purchases that are excluded, such as money orders and traveler’s checks. Betting transactions, including lottery tickets and race track wagers, are also common exclusions. American Express cards are known for excluding gift card purchases.

If you use your card for normal, everyday spending, you probably won’t have any problems. But if you think any of your spending may be ineligible, you can check exclusions in the bonus terms.

5. You returned purchases

When you return a purchase for a refund, it effectively reduces your credit card spending. That could be a problem if it pushes your spending below the threshold for your card’s sign-up bonus.

Let’s say you need to spend $3,000 in the first three months. You do that, but then you decide to return a $300 purchase. That would lower your spending to $2,700, meaning you’d need to spend more once again. And if it’s already past the time limit to meet that spend requirement, then you’re out of luck.

Sign-up bonuses are one of the easier ways to earn more credit card rewards. But you need to meet all the requirements, because card issuers typically don’t offer any second chances. Play it safe by reviewing the bonus terms first, and then keeping track of your progress once you have the card.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR for 15 months, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. 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.American Express is an advertising partner of The Ascent, a Motley Fool company. Lyle Daly has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

 Read More