Money Management

With Thanksgiving coming up, you’ll need to decide where to purchase your turkey. Sam’s Club is one option, but is it the right one for you? Read on to find out. 

It’s almost time to break out the credit cards and buy a turkey and all the fixings. As you’re deciding where to shop for Thanksgiving, you’ll want to consider all the options so you can do your bank account a favor and get the best price.

Sam’s Club is one possible place where you can purchase a turkey for Thanksgiving. But is it a good option? Here’s what you need to know.

Here’s why you may want to buy your turkey at Sam’s Club

Sam’s Club offers both fresh and frozen turkeys around Thanksgiving so you’ll have your choice depending on whether you want a bird you have to thaw or not.

The turkeys are high quality, earning 4 out of 5 stars, with many reviewers praising the taste and attesting to the bird’s moistness (although some disagreed and said it was dry). These reviews and the bird’s quality are generally comparable to what you’d get in most grocery stores.

Sam’s Club turkeys are also free of antibiotics and are raised without added hormones or steroids. And they include a convenient pop-up timer, so you can tell when they are finished cooking.

As for the price, the turkeys cost $1.19 per pound online. This is well below what many other stores charge, including Target and Walmart. If you don’t want to overpay for your turkey, this could make Sam’s Club a great option.

Here’s when buying your turkey at Sam’s might be a bad idea

There are also some situations where you may not want to purchase a turkey at Sam’s Club, though.

It wouldn’t make sense to try to purchase your bird at Sam’s Club if you aren’t already a member or planning to become one. The cheapest Sam’s Club membership is $50, so paying the membership fee isn’t worth it just to get a slightly cheaper turkey than you could get at your grocery store.

If you want an organic bird or want to make absolutely sure you have the moistest possible turkey, Sam’s Club may not be a great choice since the reviews were somewhat mixed and no organic turkeys are sold there. You may want to look into a local farm in this situation.

If you’re hoping for a small turkey, Sam’s Club also isn’t the place — the minimum size available is 10 pounds. And you’re limited to only two turkeys per membership. If you need multiple birds to feed the whole extended family (or because you just really like turkey), then you may need to go elsewhere for at least some of them.

Sam’s Club birds also aren’t available until around Nov. 10 so if you’re celebrating early (or like to have your turkey in the freezer way in advance for peace of mind), you won’t be able to do it.

Since Thanksgiving is a holiday focused around food, it’s important to make an informed choice about where to get the central meat dish. Sam’s Club is definitely an option, but only if you’re already a member and it has the right size turkeys to meet your needs.

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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 Target and Walmart. The Motley Fool has a disclosure policy.

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Chasing a higher interest rate doesn’t always make sense. Read on to learn more. 

It’s a pretty good time to have money in a savings account. The Federal Reserve has been raising interest rates since early 2022 in an effort to cool inflation. And while it’s paused those rate hikes in recent months, the result is the same — banks are paying quite generously on savings accounts, and they’re likely to continue to do so until the Fed cuts rates. That’s unlikely to happen until 2024 at the earliest.

I’m pretty happy with the interest rate I’m currently getting on my savings. But I will acknowledge that there are other banks paying more interest than mine. However, I’m not making a switch for these key reasons.

1. I don’t want to deal with the hassle

Opening a new bank account isn’t necessarily a difficult task, but it can be more time-consuming than expected. You have to fill out paperwork and then take steps to get your money transferred.

Also, if you bank online, which I do, switching banks means having to learn a whole new interface and get used to a different app. These aren’t insurmountable challenges, but since I’m reasonably happy with the rate on my savings I’m getting at present, I don’t feel compelled to put myself through the extra work.

RELATED: Best Banking Apps

2. The difference in interest income isn’t so huge

I currently have my savings at Capital One, where I’m earning 4.3% on my money. If I were to move to another bank, I could snag a higher interest rate. CIT, for example, is offering 5.05% on balances of $5,000 or more.

The idea of earning extra interest on my money is nice. But when I run the numbers, the difference isn’t so huge.

I’m not going to divulge what I actually have in my savings account. But let’s say it’s $20,000. The difference in annual interest between a 4.3% APY and 5.05% is $12.50 a month. That’s not a negligible sum, but it’s not a life-changing one. And also, it’s hard to know how long these rates will last, which leads to my final point.

3. Savings account rates aren’t set in stone

If I were to open a 1-year CD (or one with a longer term), I’d specifically look at accounts offered by different banks and try to find the best rate out there. That’s because with a certificate of deposit (CD), your rate is guaranteed for its entire term.

But savings account rates are not guaranteed. CIT might be paying 5.05% now, but what if I were to go through the motions of moving my money over, only to see the rate on my savings drop down to 4.5%? I’d feel truly annoyed if I were to put myself through that work to earn an extra couple of dollars a month.

In some cases, it could pay to move your money over to a new bank that’s paying more interest. But for the above reasons, I’m keeping my cash where it is.

You may want to shop around for CDs if you’re tying your money up for a longer period of time, and you may want to find a new savings account if the interest rate you’re getting is well below what most banks are paying today. But otherwise, there’s nothing wrong with deciding to leave your money where it is and stick with a bank you know.

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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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Dollar Tree doesn’t discount prices below $1.25 on Black Friday, but it offers a wide selection of seasonal items at the store’s already-low prices. Learn more. 

Dollar Tree stores offer a surprisingly great selection of affordable items for those who want to purchase food, toys, or household goods without giving their credit cards a workout.

But, is Dollar Tree a good place to shop on Black Friday? Will you find bank-account friendly bargains there, or does the store not participate in this special retail holiday when many retailers offer deeply reduced prices to lure in customers?

Here’s what you need to know.

Here’s what Dollar Tree offers for Black Friday

If you are hoping for discounts on Dollar Tree items on Black Friday, you’re going to be disappointed. The store does not reduce the cost of any items, which remain either $1 or $1.25, depending on the specific product.

But, that doesn’t mean it’s not worth considering what the store does have available. Dollar Tree has a huge variety of items for Thanksgiving and Christmas that are for sale throughout all of November. This includes items you’ll find hard to believe you can get for $1, including buildings, figures, trees, and people for a Christmas village. You can also find cookie containers, holiday dishes, and wreath supplies if you are crafty and want to make your own household decor for the festive season.

Dollar Tree not only has seasonal items, but also great stocking stuffers ranging from candy to toys for kids to things adults will find handy like a five-piece spa gift set with a tumbler, nail file, nail clipper, nail brush, and bath sponge. All of these items are offered at the regular price of either $1 or $1.25 though, even on Black Friday. But, they are still priced extremely competitively and may just be the perfect gifts for someone in your life.

Should you shop at Dollar Tree on Black Friday?

While Dollar Tree does not offer special deals on Black Friday, the store is open, and many stores will have extended hours. So, if you are out doing other shopping and are near a Dollar Tree, you may decide it’s worth visiting.

That’s especially true because buying items from this store online isn’t the best option for most people. You typically have to buy multiples of an item to buy online, and shipping can be expensive. So if you want the items that the store has for sale, you’ll probably want to visit a local brick-and-mortar location to get them.

However, since there are no special discounts on Black Friday, you may want to skip shopping there on this specific day to avoid crowds that are likely to be out, and to use your time more wisely at stores that do provide limited-time deals. Check out flyers and advertisements for the retail stores in your area to find out what treasures you could get for a steal during your Black Friday shopping.

Dollar Tree also marks seasonal items down after the holidays, so if you’re hoping to get the best bargains, you may want to wait until later in the season to shop there. Just be aware that if there are any must-buys, you may want to visit the store shortly before or after Black Friday to pick them up before they’re gone.

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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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I love almost everything about banking online, but it comes with one major drawback. Read on to learn how to cope if you have an online bank account. 

Many years ago, I switched from banking with a local bank to using an online bank instead.

I have both my checking account and savings accounts with an online bank and I love almost every aspect of that option. My favorite features include the online customer service, the higher deposit limits for depositing checks via mobile banking app, and the fact my bank doesn’t charge me any fees.

However, there is one thing I really do not like at all about online banking. It’s the biggest downside and is a real pain point for me.

This is the biggest downside of online banking for me

The biggest disadvantage of online banking for me is the difficulty in depositing cash.

See, my bank doesn’t have any local branches or local ATMs of its own — which is pretty much the definition of an online bank. But that means there’s no place for me to take cash if I want to put it into my account. I cannot mail the cash either, as my bank won’t accept that (and it wouldn’t be a very smart move to send money in an envelope and hope it gets there anyway).

The bank I’ve chosen is very straightforward in coming right out and saying that it doesn’t accept cash deposits, pointing people instead to remote check deposits, wire transfers, and online transfers or direct deposit instead.

Unfortunately, none of those options help me in situations where I receive a cash gift that I want to put into my bank account or if someone pays me back in cash after I bought something for them.

Here are the ways around this problem

Unfortunately, since I’ve had to accept the reality that I can’t deposit cash any more, I’ve explored some ways around this issue. They include:

Keeping and spending the cash. This is the most obvious solution, but it’s not one I like. If I get larger cash gifts, I sometimes want to deposit them and put them into savings rather than spending them. I also prefer to use credit cards for most purchases because I can earn rewards and benefit from perks like extended warranties. I don’t like to spend cash, so I don’t want to keep large amounts of it around and be forced to do so.Asking someone else to help. In the past, I’ve asked my parents or other close relatives to accept my cash and write me a check for it, which I can then deposit into my checking account. This has some obvious downsides, in that you need a willing relative who you can trust not to take your cash and then run (or accidentally write you a check that bounces). Plus, then they have to be able to deposit the cash somewhere if they don’t want to spend it.Asking to be given money in other ways. If someone is paying me back for something, I try to steer them toward using apps like Zelle or Venmo instead of giving me cash. That’s not always possible. It’s also hard to ask for people to Zelle or Venmo cash gifts (especially if you don’t know they are coming). Buying a money order might be an option for some people, but this costs money.

Now, this isn’t a big enough downside for me to want to switch back to a traditional bank. But if you deposit cash often and are thinking of switching to online banking, the difficulties of depositing cash are something you should definitely consider before you make the move.

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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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Moving in with a significant other? Read on for some ground rules to set. 

My husband and I opted to live together before getting married. But to be clear, we were totally committed to each other, and marriage was really more of a formality.

We knew going into that arrangement that we were going to butt heads on certain financial issues. My husband has always been a bit more of a spender than me. I’m more cautious and need to have a certain savings account balance to be able to sleep at night. My husband’s must-have balance is lower.

Now at this point, my husband and I know how to coexist financially without it impacting our relationship. Sometimes, that involves me giving in to a purchase he wants even if I think it’s silly or wasteful. Other times, it means having him agree to not buy something we can afford until we’ve padded our emergency fund.

But when we first moved in together, we knew it was important to set ground rules. Here are a few we came up with.

1. No spending more than $100 without asking each other

Once we moved in together, my husband and I effectively agreed to combine finances. We didn’t necessarily take that step completely and officially until we were married, but it was the arrangement we made in spirit.

To honor that, we agreed that neither of us would purchase something for more than $100 without asking the other first if it was OK. This doesn’t mean we had to consult each other if our grocery or Costco tab was $150. Rather, if I wanted to buy a $120 concert ticket to see a show with a friend or if he wanted a $200 gadget, that warranted a quick discussion.

2. No taking on new expenses without discussing them first

Part of combining our finances when we first moved in together meant agreeing to share all recurring bills. To that end, my husband and I also agreed not to commit to new expenses without discussing things first. And that extended to costs as basic as deciding whether to upgrade our cable plan or not. That way, neither of us had to feel pressured to start paying for something we didn’t want or deem necessary.

3. No signing up for credit cards without consulting one another

My husband bought a home shortly after college, and once I moved in, we shared the expense of owning and maintaining it. But we knew early on that we’d soon want to upgrade to a larger space. So we agreed to be judicious with opening new credit cards, and we agreed not to do that without consulting each other.

Opening too many credit cards in short order can cause your credit score to take a hit. We wanted to do our part to keep our scores strong to make buying a new home as feasible as possible.

Start off on the right foot

It’s an unfortunate thing that money has the potential to wreck relationships. The Jimenez Law Firm says that financial problems contribute to 20%-40% of all divorces.

My husband and I may not have the same exact outlook on money, but we made a point to respect each other’s views of it early on. And we set rules that were conducive to harmonious finances. If you’re about to move in with or marry a partner who sees money a little differently than you do, you may want to establish your own set of rules that allow you to steer clear of conflict.

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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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