It’s time to rethink old norms about how we discuss financial matters. wavebreakmedia / Shutterstock.com
Editor’s Note: This story originally appeared on NewRetirement. It’s taboo. It’s not polite. It’s personal. These are all things you’ve probably heard when it comes to talking about money. Keeping your lips sealed about your personal finances is pretty common, but your financial future may be in jeopardy if you’re not willing to talk openly about financial planning. Unsurprisingly, only 9%
Use your interview to find out if the company is a good fit for your career needs and expectations. Pormezz / Shutterstock.com
Editor’s Note: This story originally appeared on FlexJobs.com. Now that you’re searching for a new job, it’s essential to look for any signs as to whether or not the company or work environment will be a good fit for you. That might mean determining whether the culture aligns with your values or whether the company offers a flexible work policy to meet your needs. It would be ideal if all…
The holiday season is near, and it’s time to make your meal plans. Find out how Aldi will make it easier for you to prepare affordable holiday meals.
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Due to rising food costs, a trip to the grocery store can quickly become more expensive than planned. Many of us are feeling added financial pressure while shopping for groceries. With the holiday season approaching, you wonder how much you’ll spend as you gather the necessary ingredients for your holiday meals.
But you don’t have to cancel your holiday gatherings to save money. Shopping at discounted food retailers like Aldi can enable you to reduce your grocery bill. The company recently announced that starting Nov. 1, select holiday essentials will be sold at up to a 50% discount through the end of 2023. These additional discounts could be a win for your personal finances.
If you want to keep your food spending on budget during the holiday season, you may want to consider shopping at Aldi. The popular retailer is known for having affordable prices.
To help shoppers keep more money in their bank accounts during a busy holiday season, the retailer will discount select holiday meal essentials beginning Nov. 1. The best part is the savings will last through the end of the year, so you can save big on all your holiday meals.
Seasonal favorites that are likely on your holiday shopping list will be reduced in price. If you’re hosting a holiday meal with family or friends this year, these extra savings could ensure you can plan a fantastic meal while sticking to your grocery budget.
Here’s a look at some of the items that will be on sale at Aldi.
This list isn’t exhaustive; additional items will also be available at a discount. It’s also worth mentioning that prices and availability can vary by location. But it’s worthwhile to visit your local Alid store this winter to save money while buying everything you need to prepare your favorite holiday dishes. This savings event could help you keep more cash in the bank.
Shopping at discount retailers and taking advantage of holiday sales events can make it easier to honor your budget as you shop. But there are other ways to save money as you prepare for upcoming holiday gatherings with friends and family. Here are a few tips to save more money.
Don’t forget to bring a shopping list to the store. That way, you’ll be less tempted to buy items you don’t need. Review the current sales flier to maximize your savings as you outline a list.
Some ingredients, like canned goods and baking essentials, can be purchased well before your event. You could save money by buying these items before they go on sale. Plus, you can spread out the cost by shopping over the coming weeks instead of waiting until the last minute.
Buying and preparing every dish for a big holiday event can result in a costly credit card bill. Instead of doing it all, you may want to plan a potluck to eliminate stress and reduce your financial burden. Ask your loved ones to contribute a dish or beverages. This strategy is a win-win for everyone because no one is left to shoulder the entire cost of the event.
Don’t let finances spoil your holiday fun. By strategizing, you can get everything you need for your holiday meals without overspending. Consider paying for your groceries with a cash back credit card to earn rewards. Check out our list of the best cash back credit cards to learn more.
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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.
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Pet insurance is an important thing to have. Are you better off buying it through your employer? Read on to find out.
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When you bring a pet into your world, you commit to a host of expenses. So it’s important to have money in savings at all times, because you never know when a pet care emergency might arise.
A good way to ease the burden of such events is to buy pet insurance. Pet insurance won’t necessarily cover 100% of the cost of your pet’s care when they fall ill or get injured and need emergency treatment. But a policy might pick up the bulk of that tab, thereby sparing your savings account from being depleted.
Meanwhile, now that late October has arrived, many companies have started to present their 2024 benefits packages. And if open enrollment has kicked off at your place of work, you may, in the coming weeks, need to make several key decisions, such as which health insurance plan to sign your family up for and whether to open a flexible spending account (FSA) or health savings account (HSA).
You may also be given the option to purchase a pet insurance policy through your employer. But is that a smart move?
Most U.S. employers do not offer pet insurance as a workplace benefit. The Society for Human Resource Management reports that only 19% of companies do. That’s actually an improvement from 14% in 2022, but it’s a fairly small percentage nonetheless.
If your employer offers pet insurance, there may be one compelling reason to sign up — savings on your premiums. Companies offering this benefit can often secure a lower premium rate for enrollees because of the larger number of people who are potentially buying coverage. So if your company’s pet insurance plan is cost-effective, then it could pay to sign up.
What’ll generally happen in that case is that your premium costs will be deducted from your paychecks automatically, the same way you might have money taken out for your 401(k). That gives you one less bill to actively have to pay.
But before you sign up for pet insurance through your employer, shop around with different pet insurance companies to see what rates they charge. It’s not a guarantee that your employer will be able to offer the most competitive rate.
Also, your employer might only offer one or two pet insurance plans, but you might want (or need) a different level of coverage, depending on your pet’s age and general health.
For example, some pet insurance policies offer wellness benefits that cover the cost of routine care. Granted, these plans tend to cost more, but if you’re interested in coverage that’s more comprehensive, you may or may not find it through your employer. So it’s best to do your research.
A pet insurance policy could spell the difference between being able to afford your pet’s care with relative ease and struggling financially when issues arise. For example, say disaster strikes and your beloved companion needs emergency surgery. According to MetLife Pet Insurance, you could be looking at an average vet bill of anywhere from $1,800 to $5,000 for the surgery alone. Ouch!
On the other hand, if you had the appropriate pet insurance in place, you’d only have to pay the cost of your plan deductible. And based on data from MarketWatch, while pet insurance deductibles generally range from $0 to $1,000, the most common deductible chosen by owners is $250. That’s quite the difference in out-of-pocket costs.
So while having pet insurance can no doubt be a boon to your personal financial health, before you rush to buy the pet insurance offered through your employer, compare your choices. It may turn out that your employer’s plan is your best option, but do your research to make sure.
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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.
Lottery winners usually don’t gamble their winnings away or lose it all on fancy mansions. Read on to find what research says about jackpot winners.
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You’ve probably read the stories of lottery winners who hit the jackpot, winning life-changing sums of money — only to squander their winnings just as fast as they received it. I’ve written on the subject myself.
But, as interesting as those stories are, research shows that gambling away a jackpot, or losing it all after spending it on cars and mansions, isn’t the norm for lottery winners.
Despite what you’ve heard, most lottery winners are in better shape with their personal finances than before they won — even many years after winning.
Here’s what the research shows about lottery winners, why there’s a common misconception about them, and how to manage your own money even if you never buy a winning ticket.
There may be one big reason why there’s a common misconception that lotto winners blow through their jackpot: An often misstated statistic that 70% of people who get a windfall spent it in a few years has made its rounds for years.
The statistic has been attributed to the National Endowment for Financial Education, but the organization set the record straight in 2018, saying that it never published any research saying that.
So, for the record, most people don’t go broke after winning a lottery jackpot.
In actuality, research shows that lottery winners are doing pretty well financially many years after they hit it big. A study from the National Bureau of Economic Research tracked more than 3,000 Swedish lottery winners between five and 22 years after they won. It found that they didn’t spend their winnings quickly, and instead slowly spent it over many years.
The jackpots weren’t insignificant, either. The winnings ranged from $100,000 to $2 million.
And despite another common misconception that large winnings may make people unhappy, the research found that while they weren’t necessarily happier day-to-day, they were generally more satisfied with their lives.
Interestingly, most jackpot winners continued to work, though they worked less than before, and they usually retired earlier than other people.
Lottery jackpots are tempting to pursue because they take no planning or effort, but have a potentially huge payoff.
Americans spent $108 billion on lottery tickets last year, yet most of us have yet to score a massive jackpot. For that reason, it’s worth looking at a few steps you can take to actually retire as a millionaire, no lotto tickets required.
The more time you have, the better your chances of building a sizable sum for your retirement. But you’ll never get there if you don’t have a retirement plan that helps you figure out how much money to set aside every month. And when you’re estimating how many more years you have to work, consider that many people are forced to retire earlier than they planned.
Once you know roughly how many more years of work you have, the next step is to begin contributing to your retirement plan regularly. For example, if we assume a 10% annual rate of return, a 30-year-old who wants to retire at 60 will need to contribute about $525 per month to reach $1 million. Setting up a brokerage account can help you start with investing, or you can sign up for a 401(k) program through your work, if one is available.
Some people may assume it’s a lost cause to save for retirement if they can’t hit a goal of $1 million. But it’s important to remember that putting some money aside regularly is better than nothing. For example, if you’re 40 years old right now and don’t have any retirement savings, you could still retire at 70 with nearly $395,000 if you invest $200 per month toward retirement and earn a historical annual rate of 10%.
While it’s fun to daydream about winning the lottery, setting up a clear plan for retirement offers its own reward by taking advantage of compound interest — which is a form of hitting the jackpot, considering that you’ll likely end up with far more money than you initially put in.
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Some Netflix users in the United States are now paying more. Find out how much this change could cost you if you’re a subscriber.
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Netflix hopes to continue boosting profits. Last year, the streaming company increased subscription prices. Earlier this year, the company announced its cheapest ad-free plan would no longer be available to new subscribers. The streaming brand also took steps to crack down on password sharing to get more users to pay up.
But Netflix isn’t done making changes yet. Starting today, some subscribers in the United States will see their rates increase. This news could impact your bank account if you’re a Netflix customer.
In its 2023 third-quarter earnings report, Netflix announced it would increase prices in the United States, United Kingdom, and France. As of today, two plans now cost more for United States subscribers. Impacted users will need to decide if they want to remain customers.
The ad-free Basic plan now costs $11.99, an increase of $2 per month. As mentioned earlier, this plan is no longer available to new customers but is available to existing users. Netflix’s most expensive ad-free plan, Premium, also has a higher price tag. Users will now pay $22.99 per month — an increase of $3.
While a $2 or $3 increase may not sound like much, the additional expense adds up quickly. That’s an additional $24 to $36 per year to stream Netflix content. If you subscribe to either plan and want to remain a customer, you should adjust your budget accordingly.
But there’s some good news for users in the United States. Subscribers with a Standard ad-supported or ad-free Standard plan will continue to pay the same price. We’ll have to wait to see if price increases impact these plans in the future.
This price increase is likely disappointing news for consumers, but the decisions Netflix has been making seem to be working well for the brand. In the third quarter of 2022, the streaming app reported having 223 million paid subscribers. The third quarter 2023 earnings report shows Netflix now has more than 247 million paid subscribers. Millions of people are still paying for the service.
It’s understandable if you’re feeling upset about rising streaming service costs. It seems every few months, another streaming app increases its prices. If you subscribe to multiple services, such price changes can significantly impact your budget.
Here are a few tips to save money on streaming service costs.
Play the rotation game: You don’t need to pay for multiple streaming apps simultaneously. To keep more money in your bank account and get more value from each service, you can rotate them. Pause the services you’re not currently using often and resubscribe in the future.Switch to an ad-supported plan: If you can put up with advertisements, you can save money on subscription costs. You may consider testing an ad-supported plan to see if it works well for you. The lower price tag could be a win for your wallet.Consider bundling your streaming services: While you can’t bundle Netflix, you can save money by bundling other streaming services. Doing this could help you reduce your monthly subscription spending. For example, you can bundle Hulu and Disney+. The ad-supported Duo Basic costs $9.99 monthly, while the ad-free Duo Premium costs $19.99 monthly.
For additional ways to save money, check out our personal finance resources.
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.
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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 positions in and recommends Netflix. The Motley Fool has a disclosure policy.
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