Money Management

October Prime Day is here. These three tools will help you find the deals that are actually worth your money. 

Amazon Prime Day is back again from Oct. 10-11. And if you’re wondering, “Didn’t Amazon Prime Day just happen?,” you’d be correct, as the last Prime Day was in July.

But even for the savviest of shoppers, Amazon Prime Day (officially dubbed Prime Big Deals Day) can get confusing. Distinguishing the real deals from the hype isn’t always easy. Plus many retailers, including Walmart and Best Buy, are offering rival sales events of their own.

How do you make the most of Prime Day? We’ll explore three must-have tools for every Prime Day shopper. And even if you’re skipping Prime Day, keep reading. These tools will be helpful in your everyday online shopping, considering that the average American spends $91 on Amazon each month.

1. Keepa

Keepa is a free Chrome browser extension that will create a chart showing the price and selling activity for most items on Amazon. It’s also available as both an iOS and Android app. If you’re not sure whether a product has actually been deeply discounted, you can scroll down to the Keepa chart that the extension generates on the Amazon product page.

For example, I was researching a digital picture frame that was advertised as a Prime Big Deal, priced at $53.99. Amazon said that was a 46% discount from its normal $99.99 price tag.

Keepa showed me that the average price for the item over the last 90 days was $92.91. That means the discount isn’t quite as generous as Amazon advertised, but confirms it’s still a good deal. However, Keepa also revealed that the digital frame was also offered 29 days ago for $53.99. Knowing that Amazon recently slashed the price of the frame even when it wasn’t Prime Day made me feel a little less urgency about buying it.

You can also set up a price watch on any Amazon product page and get notifications any time the price of an item drops.

2. Alexa

New Prime Day deals pop up as frequently as every five minutes. If you’ve got something saved on your Wish List, cart, or Save for Later, Alexa can notify you up to 24 hours in advance before it goes on sale.

When a deal becomes available, you’ll get a yellow ring light or pop-up notification on your Echo device. You can ask Alexa for a reminder once the item goes on sale or have Alexa automatically make the purchase by saying, “Alexa, buy it for me.” If you don’t want to miss future Prime Days, you can ask Alexa for a reminder about Prime Big Deal Days.

3. Fakespot

Have you ever made a purchase after reading countless glowing reviews — only to discover that the item wasn’t what you expected, that it was impossible to assemble, or that it broke 10 days later? Phony reviews abound on Amazon, and distinguishing the legit reviews from the fake ones isn’t always easy.

Fakespot uses artificial intelligence (AI) to assess whether reviews are real or fake. You can add it as a browser extension or download the app on the App store or Google Play. It assigns the reviews for any particular product page a letter grade. Note that Fakespot is grading the quality of the reviews, not the quality of the product, though. An “A” rating doesn’t mean the product is great or that it gets stellar reviews, but rather, that the reviews appear to be written by real humans. Likewise, an “F” doesn’t indicate a terrible product, but it does mean the reviews are unreliable.

If you rely on reviews to make purchasing decisions, Fakespot is a helpful tool not just on Prime Days but for your everyday shopping. In addition to Amazon, you can use it for online shopping at several major retailers and websites, including Best Buy, Home Depot, Sephora, TripAdvisor, Walmart, and Yelp.

Should you shop on Prime Days?

Shopping on Prime Days can help you score serious deals — but try to limit your purchases to items you already had your eye on. If you find a great deal on the item you wanted, go ahead and buy, as long as it’s in your budget. But avoid buying things you don’t need just because they’re on sale.

If you do plan to shop on Prime Day, shopping with a rewards credit card is a smart move. Some of the best cards for online shopping will give you anywhere from 3% to 5% cash back on Amazon purchases or other online purchases. If you’re already planning to spend money, why not get rewarded for it?

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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. Robin Hartill, CFP® has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.com. The Motley Fool has a disclosure policy.

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The Powerball jackpot can be paid out as a lump sum or an annuity. Read on to learn the truth about Powerball payouts. 

What do 16, 34, 46, 55, 67, and 14 have in common?

Nothing important, because, once again, Monday’s Powerball jackpot had no winner.

The pot has now reached an estimated $1.73 billion, which is getting mighty close to the largest lottery reward on record — a whopping $2.04 billion, dished out last November. If someone wins at $1.73 billion, it would be the second-largest reward on record, beating out a $1.602 billion Mega Millions win from August of this year.

The next drawing will be on Wednesday, Oct. 11. If there’s a winner, that person will have to decide if they want to take their prize as a single lump sum or as an annuity with 30 installments over 29 years. Most winners take the lump sum. But is that the best way to receive your lottery winnings? Let’s take a look at both and see.

Lump sum: money now, smaller prize

Taking a lump sum means you’ll get your lottery winnings immediately and all at once. In exchange for a single upfront payout, however, you have to accept a smaller lottery prize — often less than half of what’s advertised.

For instance, if you had won Monday’s Powerball (then $1.565 billion), a lump sum would have yielded $686.5 million, according to the lottery site usamega.com. That would mean sacrificing about $878.7 million. After taxes, however, you would have had about $432.5 million.

Annuity: full prize, smaller annual payouts

The annuity option yields the entire lottery prize over 30 installments. So, for Monday’s lottery, you would have received an average net payout of $32.9 million every year (after taxes) for the next 29 years, plus one this year. That would yield a grand prize of about $948 million, again after taxes.

Which payout is better?

On the one hand, the annuity appears to be the better choice. At the end of 30 installments, you’ll have more than double what you would have had with the lump sum. Plus, breaking up your lottery winnings could add “insurance” against overspending. You might feel less tempted to, say, buy a $100 million superyacht when you don’t fall into immense wealth all at once.

What about if you want to invest your winnings? Which payout option would be best then?

For example, let’s say a lottery winner is interested in investing their winnings in an S&P 500 index. They take the lump sum ($432.5 million after taxes), save 25% of their prize (about $108 million) and invest the rest ($324 million) in the S&P 500. If we assume an annual compound growth rate of 10.7% for this index (which is the S&P 500’s compound annual growth rate over the last 30 years), that $324.4 million would grow to $6.178 billion in 29 years — almost four times the jackpot’s advertised value and more than six times what you would have gotten with the annuity (after taxes).

Now let’s try the same scenario but with the annuity. Again, the lottery winner spreads 25% of their annual payouts (about $8 million) in bank accounts and invests the rest (about $25 million) once a year for the next 29 years. Assuming again a 10.7% annual compound growth rate, the prize would grow to $4.698 billion — almost one and half billion less than the invested lump sum.

Investing the lump sum, then, could give you more investing potential. Of course, this doesn’t factor in capital gains taxes, expense ratios, and other investing fees. It also assumes you would practice delayed gratification and invest a significant amount of money, which, come on, if you’re the kind of person who wants your entire Powerball payout at once, are you also the kind of person who would invest most of it?

My take

Personally, I would take the annuity. Receiving a guaranteed $32.9 million each year for the next 29 years would give me immense security and peace of mind. It would also prevent me from squandering it, which I hope I’m not that kind of person, but having never had immense wealth I suppose I don’t know how many yachts I’d buy (or, more likely, how many rare books I’d buy for my personal library).

All in all, either option would change your finances overnight. We’ll just have to see on Wednesday if someone has a ticket with those lucky numbers (and claims their win) — or if the prize will inch closer to being the largest of all time.

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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 finding the best deals on kids clothes. Take a look at the places I visit to score the biggest bargains. 

Raising a child is ridiculously expensive. Recent estimates suggest parents spend around $310,605 from birth until the age of 18. That’s quite a lot of money for people who are quite small for much of that time.

Since I have two kids who participate in a lot of activities and really like to eat, there’s no question my bank account has taken a big hit since I became a parent. But one thing I will never put on my credit card is brand-new clothing for my kids. Children are simply too messy, and they grow too quickly, to justify paying a premium price for new items when there’s so much gently used gear out there.

Since I’m committed to buying used clothes for my kids, I want to get the best deals on quality items. Here’s how I do it.

I visit community garage sales

Garage sales are one of the best places to find inexpensive children’s clothing. I check Facebook events weekly as well as sites like Garage Sale Finder to find community sales so I can save time by visiting many houses at once. When we visit, I look for houses where toys are on display, as those homes usually have boxes of kids clothes as well.

I tend to go later in the day when I hit up garage sales to get the best bargains. Most people really don’t want to bring their items back in, so you can usually get deep discounts when you buy their leftover stock. I’m willing to purchase several sizes up when I find great bargains, and I store them in organized bins under the bed that are labeled by size.

If you have children, check out the sales where you live to find clothing at unbeatable prices — sometimes as little as $0.25 per item.

I shop big consignment sales

Children-focused consignment sales are another great place to get top deals. In my area, these are held by local churches as well as a specialized company called Just Between Friends, which hosts sales several times a year.

Facebook’s events page is a great place to learn about consignment sales. Most sales offer a half-price day on the last day of the sale, so I wait to shop then so I can get the best bargains. Check your own local Facebook pages as well as churches in your area to see if there are any big sales.

I get to know my local thrift stores

Finally, I’ve visited all of the local thrift stores in my area to find the ones that offer the best deals on kids clothing. Many of these stores also offer special discounts on certain days, so I’ve made sure to pay attention to the schedule.

Again, I check all of the clothing racks going several sizes up when I visit these stores. If I see name-brand quality items, I snag them when they are available and just save them until my kids grow into them. Sometimes, I can even find items with the original tags still on.

You can search thrift stores on Yelp in your area to find ones that have good children’s sections — then keep a list of which ones you like.

While it takes a little more effort to shop used, the savings is well worth it — and my kids are always dressed great for pennies on the dollar.

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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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Costco members get exclusive discounts on CONNECT car insurance. Read on to learn how much you could save. 

Costco members who are sick of paying high premiums on car insurance might want to look to their favorite warehouse retailer for some savings. While Costco itself doesn’t underwrite insurance policies, it offers discounted rates through CONNECT, an insurance company that’s backed by American Family Insurance.

How does Costco insurance work and are its rates lower than those of the best car insurance companies? Let’s take a look at what makes Costco car insurance unique and whether it’s worth buying.

Costco members get an exclusive discount

Perhaps the biggest perk to buying car insurance through Costco is that you get an automatic discount simply for being a Costco member. This is extra savings you won’t find anywhere else and can be combined with other traditional discounts, like safe driving, paperless billing, and multiple policies.

According to Costco, that extra discount helps most members save about $595.86 in their first year when they switch to CONNECT. That’s about $50 of savings per month. Indeed, the insurance site The Zebra went even further and found that Costco was cheaper than seven major companies, including:

AllstateFarmersGEICONationwideProgressiveState Farm USAA

The highest average annual premium among these companies was Farmer’s at $2,790. Costco’s average came in at $1,069 — about $1,700 cheaper.

Of course, these are averages and not price tags. What you pay for car insurance will depend on your driving record, address, car, and coverage. Even if Costco has the cheapest average annual premium, it’s still worth comparing its quote with other car insurance companies, just to make sure you’re getting the best price.

Costco will throw in some extra perks

In addition to cheap car insurance, Costco will also throw in some bonus perks, like windshield repair (also called “Glass Repair Deductible Waiver”). If your windshield is damaged but repairable, this policy will cover the repairs without making you pay a deductible. The policy covers up to $1,000 in damages and can be used twice in a 12-month period.

Executive members also get some exclusive perks. These include:

Roadside assistance: Executive members will be compensated up to $75 of what they spend on towing or other services when they’re stranded on the road, whether from dead batteries, flat tires, or locked keys. Lifetime renewability: If you ever get into a car accident, rest assured that CONNECT cannot drop your coverage with lifetime renewability. As long as you pay your insurance bills on time, don’t have major traffic violations, and don’t live in Maryland or Maine, you’re guaranteed continuous coverage.

Costco car insurance is cheap, but CONNECT’s customer service is questionable

One potential downside to Costco car insurance is that CONNECT’s customer service doesn’t have glowing reviews. The company has a 1.27 out of 5 on its BBB profile (out of 88 reviews), with 41 complaints in the last 12 months.

Looking at the parent company — American Family — the situation is hardly brighter. While Costco itself claims that roughly 89% of its members were satisfied with its car insurance, American Family’s National Complaint Index — which measures how many complaints an insurance company receives to its share of market premiums — is fairly high. Its NAIC is currently at 4.74, which means it receives more than 4 times the volume of complaints compared to the market. For perspective, GEICO’s NAIC is 1.21.

That might not be a dealbreaker. But as someone who has just gone through a lengthy auto insurance claims process, I can testify that having great customer service when you need it is sometimes more important than saving money.

At the end of the day, if price is most important to you, it’s worth getting a free quote to see how much Costco’s car insurance could save you. I wouldn’t assume Costco’s car insurance is the best value, but depending on your circumstances, it could save you money.

Our best car insurance companies for 2022

Ready to shop for car insurance? Whether you’re focused on price, claims handling, or customer service, we’ve researched insurers nationwide to provide our best-in-class picks for car insurance coverage. Read our free expert review today to get started.

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 recommends Progressive. The Motley Fool has a disclosure policy.

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You can save money on more than clothes and electronics this Prime Big Deal Days. Discover how to save an extra 20% on eligible Priceline hotel bookings. 

Amazon’s Prime Big Deal Days event has already begun. From Oct. 10 to Oct. 11, Prime members can score deals on electronics, household goods, clothes, kitchen gadgets, and much more. But during the event, Prime shoppers can also save money on upcoming travel costs.

Priceline has partnered with Amazon to offer a Prime-exclusive deal on hotels. In fact, you could save an additional 20% when booking an eligible hotel deal through Priceline.

Prime members can save big on eligible hotel bookings

From 12 a.m. ET on Oct. 10 through 11:59 p.m. ET on Oct. 11, Prime members can get an additional 20% off Priceline hotel Express Deals. Bookings must have a subtotal of $300 or more, and the maximum discount is $100. Travel must be completed by March 31, 2024.

To claim this travel deal, you’ll need to do the following:

Visit the deal landing page.Copy the promo code.Click “claim deal” to book an eligible hotel with Priceline.

If you have an upcoming trip and still have yet to book a hotel, you may want to take advantage of this promotion to keep more money in your checking account. It’s worth mentioning that while Priceline’s hotel Express Deals can be an excellent way to save money on travel, you should be okay with the element of surprise before booking a stay.

That’s because, for these hotel deals, Priceline will show you the price, the hotel’s minimum star rating, location, and included amenities — but not the hotel name.

Once you finalize your booking, Priceline will share the hotel name. To secure the low price shown, the bookings you make are nonrefundable.

For adventurous travelers, this extra discount could make for an easy way to save on an upcoming trip. By getting a deal when booking your accommodations, you’ll have more money left in your vacation budget to spend during your trip.

Four more ways to save on travel during Prime Big Deal Days

Beyond this hotel deal, there are other ways to save money on travel during this online shopping event. Here are a few discounted travel essentials worth checking out:

Traveler’s Choice Pagosa Indestructible Hardshell Expandable Spinner Luggage: This 22-inch spinner carry-on bag is on sale. The exact discount varies depending on what color suitcase you buy. The cheapest option (which is pink) is available for $76.79.Coleman Skydome Camping Tent with Dark Room Technology: The 8-person model of this Coleman camping tent is on sale for $156.97.ETRONIK Weekender Bag for Women: This canvas weekender bag features a separate toiletry bag and is an ideal option for a quick overnight trip. The most affordable option is on sale for $36.99.BAGAIL Compression Packing Cubes: Some four-pack sets are on sale for as little as $19.99. Some color options also have an additional 15% off coupon.

Earn rewards on your travel spending

Before booking your next hotel, consider which credit card to use. Many of the best travel rewards credit cards allow you to earn rewards on travel and dining purchases. Once you have earned enough rewards, you can cash them out for free or nearly free hotels and flights. Using credit cards that earn rewards is a fantastic personal finance strategy for travelers.

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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. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.com. The Motley Fool has a disclosure policy.

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If you’re a Prime member, don’t miss the Prime Big Deal Days event. You can get your holiday shopping done without going broke. Check out these top deals. 

The Fall Amazon Prime shopping event is here. The Prime Big Deal Days event is happening on Oct. 10 and Oct. 11, and Prime members can save big on various everyday essentials and gift items for the upcoming holiday season. Shopping during a sale can be a smart money move if you’re working hard to meet your personal finance goals. Here are a few of the best Amazon Prime Day bargains you won’t want to miss during this fall sale event.

Electronics

If you’ve been eyeing up a new gadget or electronic, now is the time to shop. Here are a few can’t-miss electronic discounts:

Apple Watch SE: You can scoop up Apple’s most affordable watch for $199. The second-generation Apple Watch SE is discounted by $50 during Prime Big Deal Days.Bose QuietComfort 45: For those looking for a solid pair of noise-canceling headphones, this over-ear headphone set is on sale for 30% off. You’ll pay $230.53 instead of $329.Ring Video Doorbell: If you want to improve your home security, you may want to consider buying this battery-powered, rechargeable video doorbell for $54.99 instead of $99.99.Toshiba 55-inch Class C350 Series LED 4k UHD Smart Fire TV: This television is priced at 42% off during the October Prime Day event. For $249.99 instead of $429.99, you upgrade your home movie nights while continuing to honor your budget.

Home and kitchen

Amazon has you covered if you’re looking for a kitchen appliance, vacuum, or air purifier. Here are a few notable deals you can score during the fall Prime sale:

Dyson Ball Animal 2 Total Clean Upright Vacuum: This vacuum is ideal for those with furry friends. If you’ve been stashing cash in your savings account to buy a new vacuum cleaner, you’ll be happy to know it’s on sale for $379.99 instead of $599.99.Keurig K-Compact Coffee Maker, Single-Serve K-Cup Pod Coffee Brewer: Need a new coffee maker for your office? This single-serve Keurig brewer is on sale for 50% off. You’ll pay only $49.99, and multiple color options are available.Govee Life Smart Air Purifiers for Home Large Room: This Govee Life air purifier is ideal for areas of 991 square feet or less. Instead of paying $129.99, Prime shoppers can get it for $89.99 this October.iRobot Roomba 692 Robot Vacuum: For those needing extra help keeping their home clean, this robot vacuum is on sale for 45%, so it’ll only cost you $164.99.

Clothing and accessories

Whether you’re looking to upgrade your wardrobe or are trying to check off items on your holiday shopping list, Amazon Prime members can save big on the following clothing and accessories during the Prime Big Deal Days sale:

Carhartt scrubs: Now is an excellent time to stock up on new scrubs. Select Carhartt scrubs are discounted by 20% or more, so you can add to your collection without draining your checking account balance.ASICS: Several pairs of ASICS running shoes are on sale right now. But the ASICS Gel-Nimbus 24 Running Shoes are up to 61% off. The men’s and women’s version of the shoe is available for as little as $63, depending on the style and color chosen.Champion: This athletic brand has various athletic apparel on sale during the Prime Big Deal Days event. You can expect discounts of 50% or more.Amazon Essentials Women’s Lightweight Long-Sleeve Water-Resistant Puffer Jacket: You’ll find various Amazon Essentials outerwear items on sale throughout the event, including this women’s puffer jacket, which costs $29.30.

You’ll need to be a Prime member to shop the sale

Prime Big Deal Days is a Prime-exclusive event, meaning only Prime members can access the best prices. If you’re unsure if you’ll get much use out of a membership, take a closer look at the little-known perks of an Amazon Prime membership. If you’re not yet ready to become a paying member, sign up for a free trial first.

Before you check out, consider which credit card you will use to pay for your order. You can earn cash back rewards with a cash back credit card. Check out our list of the best cash back credit cards to learn how these cards can benefit online shoppers like you.

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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.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, 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 Amazon.com and Apple. The Motley Fool has a disclosure policy.

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