Money Management

The cost of a fast food meal has outpaced inflation. Read on to learn how to stretch your fast food dollars. 

It’s not just you — fast food has gotten expensive. According to the latest Consumer Price Index Summary, the cost of “limited service meals” is up 6.2% since October 2022. In contrast, overall inflation is up 3.2% over that same period, and full-service restaurant meals are up 4.3%.

I don’t eat fast food often, but I’ve been around long enough to remember when $5 bought you a feast at your local McDonald’s or Taco Bell. Those days are now long gone — restaurant price aggregator PriceListo notes that the average item price at McDonald’s is now $5.41. So your $5 may not even fully cover the cost of a sandwich, let alone a drink and a side of fries to go with it. With prices like these, what’s a hungry person to do? Try these hacks to make your fast food budget go further and keep those credit card bills down.

1. Download the app

Here’s a tip I would use myself if I ate fast food more frequently (usually, it’s more of a road trip thing for me). Just about every fast food joint worth its salt has a mobile app now, where you can order food and likely save money in the process. When you get the McDonald’s app and join the restaurant’s rewards program, you get a free large order of fries when you make a $1 minimum purchase, and you also get the chance to earn points on eligible orders. You can turn these points into free food later.

2. Order a kids’ meal

Ordering off the kids’ menu is basically always going to be cheaper than not, because you’re getting less food (makes sense, right?). This may not be such a bad thing, however. Getting a kids’ meal means a smaller portion that might still be enough food for you, and you can’t argue with the lower price point. Plus, free toys!

3. Buy cheap gift cards

This hack introduces a middle man, but since it’ll save you money, it’s worth checking out. Costco sells gift cards at a discount (including lesser-known ones) when you buy them in bulk. It’s Costco, after all. For example, right now you can get $60 worth of Krispy Kreme gift cards for just $44.99. Prefer Subway? $75 worth of Subway gift cards will run you $64.99. Yes, these do make excellent stocking stuffers, but you could also get them for yourself and translate the savings to your own fast food meals in 2024.

4. Do the survey on the receipt

These days, it’s rare that I don’t get a receipt with a request that I scan a QR code or go to a URL and complete a survey. Often, the thanks I’d receive for doing so is the chance at a big prize — for example, the survey on my grocery receipt from this morning offered me an entry in a drawing to win free groceries for a month. But check the bottom of your fast food receipt carefully, as completing the survey could mean a free side or drink the next time you come in.

5. Use a food delivery service

I’m a big fan of food delivery app DoorDash, and ordering fast food through it has the potential to save you some money (note: I don’t recommend trying this unless you’re already a subscriber to a delivery service, as otherwise the extra fees you’ll be charged will eat up those savings).

For example, I just opened the DoorDash app and found several fast food coupon offers. If I spend at least $20 (and order a Dr. Pepper) at Wendy’s, I’ll save $5. And if I spend $20 at KFC (no Dr. Pepper required), I can save $4.

Rising prices are just a part of everyday life in America, apparently. Thankfully, with a little planning and strategy, you can still make the hit to your checking account a little bit less when you visit your favorite fast food drive-thru.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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Want to close out the holidays without debt? Read on to see how. 

The holiday season is upon us. And whether that’s something you’re excited about or not, the reality is that you may be gearing up to spend a lot of money.

Now, if you have the cash sitting in your savings account, you’re in good shape. But that’s not the case for a lot of people. And the last thing you want is to close out the holiday season loaded up with credit card debt. If you make these moves now, though, you might manage to avoid that fate.

1. Set a spending budget for gifts

A good 21% of U.S. consumers expect to spend more than $1,000 on holiday shopping this year, reports TransUnion. And 30% expect to spend between $501 and $1,000.

You may be expecting to spend more, less, or somewhere in the middle. But either way, it’s important to set a budget before you shop if you don’t want to end up with debt.

Make a list of the various people you need to buy gifts for, and then order it by priority. From there, look at your savings and checking account and see how much money you can afford to part with.

Then, work your way down your list so that you’re first spending on the people who are most important to you. If your cousins and uncles have to get a token $10 gift because you’ve maxed out on your budget on your siblings and parents, so be it. You can dress it up with a thoughtful note.

2. Pick up a side hustle

It’s hard to save for the holidays in advance when other expenses monopolize your income. If you’re short on spending money but don’t want to end up in debt, a second job could be a good idea. And now may be a great time to pick one up.

Many businesses need extra hands on deck for the holiday shopping rush. Now, at this point, a lot of them might have extra staff already in place. But you never know when a seasonal worker might walk out or burn out, so it doesn’t hurt to put in some inquiries around town.

And remember, there’s always the gig economy. You can do anything from drive for a ride-hailing service to pick up other people’s groceries for extra cash.

3. Book your Christmas travel ASAP

Christmas will be here before you know it. And the longer you wait to book your flight or rental car, the more you might end up paying.

If you’re not sure how much time you can afford to take off, talk to your manager. They may be amenable to you working remotely for a few days during the holidays even if you normally have to report to an office.

Remember, the week between Christmas and New Year’s Day tends to be particularly slow in many industries. If that’s the case for yours, you might get some leeway on when you can travel. And if you’re able to return at a less peak time, you might save some money on your flight, leaving you with a smaller credit card balance to pay off.

Nobody wants to start off the new year with extra debt. Make these moves so you don’t have to.

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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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Home values in these cities are projected to climb. Read on to find out which areas of the country may be the best to buy a house. 

Home affordability is at a 40-year low as soaring home prices and high interest rates have forced many potential home buyers to leave the market.

But for those still looking to buy right now and deciding which location is the best, some of the latest Zillow data, compiled by SmartAsset, could be helpful. The company says that there are a few places across the country where home values will rise the most through 2024, including:

Rio Grande, Texas: Projected home value increase of 12.3%, to $127,312Knoxville, Tennessee: Estimated home value increase of 9.5%, to $310,699North Miami, Florida: Projected home value increase of 8.8%, to $501,725Winston-Salem, North Carolina: Estimated home value increase of 8.7%, to $163,269Muskegon, Michigan: Projected home price value increase of 8.6%, to $171,940

Not only are these cities expected to see the fastest home value growth over the next year, but all but one city on this list is also far less expensive than the median U.S. home sale price of $431,000. This means you could score a relatively inexpensive home that still has a lot of potential to see its value rise next year.

Will home affordability get better in 2024?

Some experts are in disagreement as to whether home prices will increase or decline next year. Morgan Stanley said recently that prices could fall by up to 5% by the end of 2024 if interest rates remain high. Similarly, Moody’s believes prices could slide 3.5% by that time.

But Zillow predicts that prices will increase by 4.9% by mid-2024, and the National Association of Realtors estimates home prices will rise 2.6% through 2024.

And there’s no telling what will happen with mortgage interest rates, either. The latest U.S. Bureau of Labor Statistics data showed that inflation has started to cool, which could mean that the Federal Reserve may be finished raising interest rates.

The Mortgage Bankers Association estimates that mortgage interest rates could be 5.5% by the end of 2025. That’s a significant decrease from their current levels and indicates that 2024 could be a better year to buy a house.

What to do if you’re looking to buy a home soon

In addition to saving up for a down payment and finding a good real estate agent, here are a few things you can do to get ready to buy a home in 2024.

Pay attention to shifting rates: With inflation easing, potential home buyers may want to keep a closer eye on mortgage interest rates than they have been. Don’t make a move on a house until you’re financially prepared, but if rates dip and you’re ready to buy, then it may be time to make your move.Talk to more than one lender: When it comes to mortgages, you may want to get a second opinion. Not all lenders will view your financial situation the same, so do your research, shop around for the best mortgage lender, and compare offers.Pay off debt: Some lenders may have tighter restrictions on borrowing right now since home prices are high and interest rates are still elevated. Lowering your debt-to-income ratio by paying off credit card debt or other loans may help you secure a mortgage or get better loan terms.

Even if you don’t choose to buy in an area of the country where home values are increasing the most, getting yourself into the best financial shape possible will help you make the most of your home purchase.

And if you find the perfect home but don’t get the interest rate you were hoping for, remember that there’s always the possibility to refinance your mortgage at a lower rate later on.

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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.Citigroup is an advertising partner of The Ascent, a Motley Fool company. Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Zillow Group. The Motley Fool has a disclosure policy.

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Love streaming apps, but don’t enjoy paying full price? Shop Black Friday streaming service deals. Find out which streaming apps are on sale now. 

Many people shop Black Friday sales to save money on holiday gifts. But this time of year is also an excellent time to save money on everyday services that you use. If you’ve been meaning to try a new-to-you streaming service, a Black Friday deal could help you keep more cash in your checking account. It’s a great time of year to get the best pricing on new streaming subscriptions.

Here are a few streaming service Black Friday deals to consider.

1. Hulu

Every year, Hulu has a big sale around Black Friday. This year is no exception. Now through Nov. 28, you can subscribe to Hulu with ads for $0.99 monthly for twelve months. This deal is available to new subscribers and some returning customers.

If you haven’t been a Hulu subscriber within the last month and don’t have a Disney+ Basic with ads plan or Disney Bundle subscription, you’re also eligible for this deal. After the twelve month promotional period, you’ll be billed the standard $7.99 monthly rate.

2. Max

Max is another streaming service that has a deal this week. Now through Nov. 27, you can save 70% on a Max with ads plan. This offer is available for six months. You’ll pay $2.99 monthly, instead of the standard $9.99 per month price. That’s a major discount.

This limited-time offer is available to new subscribers and also former ones with expired or canceled subscriptions. You can get this deal when you subscribe through Max, Amazon, Apple, Google, or Roku. After the six-month promotional period, you’ll be charged $9.99 monthly.

3. Paramount+

The streaming service deals don’t stop there. Through Dec. 3, you can get a Paramount+ Essential subscription for $1.99 a month (instead of $5.99 a month) for three months.

Alternatively, you can get Paramount+ with SHOWTIME for $3.99 monthly instead of $11.99 a month for three months. Both offers are available to new and former subscribers only. After the three-month promotional rate expires, you’ll be billed at the standard monthly rate.

Don’t ignore new subscriber deals

At this time of year, there are many opportunities to get discounts. Black Friday offers like this are a good reminder to review new subscriber pricing for services like streaming apps.

This is especially worthwhile because a big discount can be a win for your wallet. When you save on this kind of recurring expense, you’ll free up more money in your budget for other financial goals. Don’t miss out on money-saving deals.

Make a note on your calendar so you don’t forget to cancel

While these offers are attractive, it’s important to remember that they’re limited-time promotions. Once the discount promotional period ends, you’ll be required to pay the standard subscription rate to continue to use the service. Make sure you consider how your budget will be impacted.

If you plan to take advantage of any of the above deals but anticipate canceling your service before the standard pricing begins, it’s a good idea to mark your calendar or set a phone reminder now. By doing this, you won’t get a surprise credit card charge in the future. For additional ways to save money, check out our free personal finance resources.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, and Apple. The Motley Fool has a disclosure policy.

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Electronics aren’t the only things on sale this Black Friday. You can also get a deal on hotels. Find out how to save 30% or more on Expedia hotel bookings. 

While many shoppers are in a hurry to save on electronics, clothes, and household essentials this Black Friday, those aren’t the only deals you can score. For travelers, now is an excellent time to consider your upcoming vacation plans.

Some travel booking websites offer additional discounts on reservations booked in the coming days, which could result in sizable savings. Find out how to save 30% or more on eligible Expedia hotel bookings for a limited time.

Save 30% or more on select hotel bookings

Expedia is a popular travel booking platform that you can use to compare prices and make bookings for travel expenses like hotels, airfare, rental cars, and activities.

In celebration of the Black Friday shopping event, Expedia is offering travelers like you discounts of 30% or more on select Expedia hotel bookings now through Nov. 29. This sale provides an opportunity to save money on hotel costs for a future trip.

You can browse eligible properties by visiting www.expedia.com/blackfriday. Alternatively, you can search for your preferred destinations and dates on the Expedia website or mobile app to find eligible properties on sale. Bookings can be for travel through Dec. 31, 2024.

All eligible hotel properties are marked with a “Member Price” note. You’ll also be shown the total savings. You must be a member of One Key (a joint loyalty program shared with Expedia, Vrbo, and Hotels.com) or use the Expedia app to get discounted Black Friday prices.

While not all hotels qualify for this promotion, many do. If you already have a refundable hotel reservation booked for 2024 travel dates, you may want to check to see if you can save money by booking through Expedia instead. Every dollar saved is a win for your bank account.

If you don’t want to stuff your home with more “things” but love traveling, this could be a solid Black Friday sale to shop this year. But don’t delay — the sale only runs through Nov. 29.

Don’t ignore deals offered directly by hotels

This is a solid sale to consider if you’re planning a vacation next year and still need to book a hotel. But it’s worth mentioning that this isn’t the only Black Friday hotel deal worth shopping for. Many hotel chains run their own Black Friday sales events.

You can check social media and monitor your email inbox so you don’t miss out on similar deals offered directly by your favorite hotel chains. Be sure to shop around and compare prices before booking so you don’t overpay. Getting the best discount can benefit your personal finances.

Use travel credit cards to earn rewards

Finally, ensure you’re not missing the opportunity to earn valuable rewards when you pay for travel expenses. Don’t just use any credit card. When you make hotel reservations or other travel bookings, using a travel credit card is an excellent way to boost your rewards potential.

You could earn points or miles that you can later redeem for nearly free travel or earn cash back rewards. Check out our list of the best travel credit cards to learn more about these 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.Natasha Gabrielle 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.

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Opening an FSA could save you money on taxes in the new year. Read on to learn more. 

Healthcare is an expense you might have to deal with at any time. Your child could fall and break an arm. Your spouse could wind up in the ER with a kidney stone. Or, you might just get hit hard by cold and flu season and wind up at the doctor a lot.

It’s a wise idea to pad your savings account balance so you have money available to pay for medical bills as they arise. But when you put money into the bank for that purpose, you don’t get a tax break in the process. With a flexible spending account (FSA), you do. So it could pay to open one of these accounts for 2024.

How FSAs work

With an FSA, you set aside money in a pre-tax manner for medical spending, up to a certain annual limit. In 2024, that limit will be $3,200, up from $3,050 in 2023.

The more money you put into your FSA up to the allowable limit, the more income you can shield from the IRS. But you’ll need to be careful not to overfund your account, because if you don’t manage to use up your plan balance by the end of the year on qualifying expenses, you’ll risk forfeiting your remaining balance.

HSAs, or health savings accounts, work differently. With an HSA, your funds never expire, and you can invest the money you don’t need right away to grow your balance.

But HSAs also require you to be enrolled in a high-deductible health insurance plan, and not every plan meets that criteria. FSAs are more flexible in that you don’t need to participate in a compatible health plan to enroll. But you do need to be mindful of your healthcare spending to make sure you’re putting the right amount of money into your account.

Should you open an FSA for 2024?

Since FSAs offer a tax break on the money that goes in, it pays to fund an FSA for 2024 to some degree. And you’ll generally have to commit to a contribution amount before the end of the year.

To figure out how much to contribute, first look at your healthcare spending since the start of 2023. Check your bank and credit card statements to add up your total. You can use that as a baseline, assuming your expenses were pretty ordinary. So if, for example, between specialist appointments, medications, and visits to the pediatrician, you wound up spending $1,200 on medical care this year, that’s probably the minimum amount you should look to contribute in 2024.

From there, think about upcoming expenses you might incur. Let’s say your oldest child is likely to get braces in 2024. That’s an FSA-eligible expense, and it could cost thousands of dollars (though your orthodontist should be able to give you a more precise number). So in that case, maxing out at $3,200 may not be unreasonable if you’re already spending $1,200 a year on medical costs without orthodontist bills.

On the other hand, you might expect your healthcare expenses to drop in 2024. Maybe some of your biggest bills this year were for physical therapy following an injury, but you’re scheduled to finish that up in December. In that case, you’d want to subtract that cost.

All told, FSAs can be a useful savings tool for medical purposes. Just take the time to run the numbers carefully so you don’t end up overfunding your account and running the risk of forfeiting some of your money.

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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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