Money Management

Trader Joe’s is constantly evolving its lineup. Read on to see what products you might find on the shelves now. 

There’s a reason so many people say Trader Joe’s is their favorite supermarket to shop at. Not only are the prices competitive, but the people who work there take the concept of “service with a smile” to the next level.

But perhaps the greatest perk of shopping at Trader Joe’s is the fun of seeing new items hit the shelves. Of course, if money is tight and you can only afford to stick to your usual grocery list, then Trader Joe’s may not be the optimal store to shop at. But if you have a little leeway in your budget, then it pays to pop in once a month and check out what’s on the shelves. Here are some tempting items you’re likely to spot in September.

1. Butternut Squash Italian Lasagna

Fall is pretty much synonymous with pumpkin season, and butternut squash is quite comparable to pumpkin in terms of taste and preparation. So it’s not surprising to see that Trader Joe’s has delivered on pumpkin season in the form of Butternut Squash Italian Lasagna. This entree features a smoky béchamel sauce, cheese, pumpkin seeds, and chives. It’s a rich, comforting dish that will make you embrace the cooler weather. A 16-ounce box will cost you just $4.49.

2. Apple Cinnamon Buns

At this point, pumpkin spice has pretty much taken over eateries and grocery stores. But remember, September is, in some parts of the country, prime apple-picking season. And apples are worth celebrating, because they’re nutritious, delicious, and come in so many varieties it’s hard to keep track. Trader Joe’s is selling an 8.46-ounce box of Apple Cinnamon Buns for $4.49. You’ll get a sweet, crumb-topped pastry that’s loaded with cinnamon. Eat your buns at room temperature or warm them for some extra early morning coziness — the choice is yours.

3. Mini Maple Flavored Marshmallows

It may be getting too cold to stay out at night roasting marshmallows in your backyard. But you can swap your s’mores for Mini Maple Flavored Marshmallows. These fall-inspired sweets are ooey and gooey like marshmallows should be, and their maple flavor gives them an added bit of oomph. Treat them as a weekday snack or store them away in your pantry to use later for your famous Thanksgiving sweet potato casserole. A 6-ounce package costs just $2.99.

4. Gluten Free Pumpkin Ravioli

It wouldn’t be September without Trader Joe’s introducing an official pumpkin lineup. If you don’t want to run up a massive credit card tab, you may need to limit yourself to just a few pumpkin items this season. But one solid pick is Gluten Free Pumpkin Ravioli. Even if you don’t have issues with gluten, this yummy entree features pasta filled with pumpkin and assorted cheeses. Pile on some brown sugar and fall spices like nutmeg and clove, and you’ve got yourself a hearty, comforting meal. You can buy an 8-ounce package for $4.49.

5. Crunchy Chili Onion Hummus

Crunchy Chili Onion Hummus may not be fall-themed per se, but it’s a nice spin on the classic chickpea spread. Cut up some veggies and pair them with this hummus for a weeknight snack, or serve up that mix when you host friends for weekend football games. A 10-ounce container of Crunchy Chili Onion Hummus costs $3.99. But you may want to pick up a few containers — it’s that good.

Shopping at Trader Joe’s can be really fun for people who love to try new foods. But do be judicious with the items you buy. It can be tempting to load up your cart with new products, but you don’t want to bring home such a large haul that you risk throwing some of it away. That’s a great way to waste your money when a big benefit of shopping at Trader Joe’s is getting to save money via the store’s low prices.

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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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Suze Orman is passionate about helping people build emergency funds. Read on to learn why. 

Financial expert Suze Orman is a wealthy woman. She’ll freely admit to that.

But that wasn’t always the case. There was a time when Orman was so cash-strapped that she resorted to living in her car because she couldn’t handle the cost of housing. And while she’s clearly come a long way since those days, she also hasn’t forgotten about them.

It’s for this reason that Orman is so motivated to help Americans build emergency savings. To this end, she co-founded SecureSave, a company that partners with employers to help workers build emergency funds.

I recently spoke with Orman about her mission to boost Americans’ savings. In a nutshell, I pressed to know why, in her 70s, she’s still working to help people build emergency funds when she could instead kick off a very nice retirement.

But according to Orman, helping people build savings is her passion. And that’s not something she’s looking to give up.

A cause Orman believes in

A recent SecureSave survey found that 63% of U.S. workers do not have enough cash reserves to cover a $500 emergency expense. And it’s statistics like that which keep Orman from retiring, and instead working her hardest to boost savings rates among workers today.

“What I do, because it gives me meaning, it defines my life,” said Orman in late August. And because she knows that building savings will transform so many people’s lives, she’s doing her part to get more companies to help facilitate that process for their employees.

SecureSave allows employers to set up emergency savings accounts for workers that they can opt into easily. Employers can also contribute toward workers’ emergency savings to make it easier for employees to grow some cash reserves.

SecureSave found that U.S. companies collectively lose $4.7 billion per week in productivity because of workers’ financial stress. So eliminating some of that stress by helping workers build savings is essential.

It’s so important to have savings

When we talked about her quest to help Americans build savings, Orman alluded to other financial greats like Warren Buffett who are still plugging away rather than retiring.

“We work because what we do gives us meaning,” she said. Thanks to her team’s efforts, Orman is convinced that a lot of people’s financial lives will improve and their stress levels will recede. That’s important.

Imagine you have no savings to fall back on and you’re suddenly hit with a home or car repair you have to cover. You may have no choice but to charge that expense on your credit card and pay it off when you can, all the while racking up costly interest.

But that’s a stressful situation to land in. And it’s not like you can predict when your car’s going to give you trouble or when an issue is going to arise with your home.

Having emergency savings could give you peace of mind and help you avoid actively worrying about money all the time. So it pays to talk to your employer about getting help in building an emergency fund.

Of course, many people have to go it alone on the emergency fund front. If that’s the case, you should know that automation is often the key to successful savings.

If your employer doesn’t offer an emergency savings account, set up an automatic transfer so that money moves out of your checking account each month and into your savings. It can be $10, $20, or whatever you can swing. The key is to start somewhere.

Meanwhile, Orman intends to keep doing her part to help more Americans improve their finances. “Some people, for the first time in their life, will have some money in the bank,” she said. And that alone makes her hard work worthwhile.

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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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A recession may no longer be in the cards for 2023. Read on to see why that shouldn’t impact your savings efforts. 

Financial experts spent much of 2022 warning the public about an impending recession. And those warnings persisted earlier this year as well.

But lately, economists have backed down from all of that doom and gloom. Instead, they’ve acknowledged that a 2023 recession isn’t looking very likely after all.

That, however, doesn’t change the need to build savings, says financial advisor Suze Orman. In fact, Orman says that fixating on recession warnings isn’t a great use of people’s time. Instead, they should focus on their own personal finances and take steps to improve them, regardless of what the economy is doing.

The broad economy isn’t necessarily your concern

The idea of a recession can be scary because economic downturns have the potential to lead to an uptick in job loss. But even when the economy is strong, it doesn’t necessarily mean that you, as an individual, are in a good place financially.

Similarly, the economy might end up in the toilet for a period. But if you have solid cash reserves, you may not need to worry so much.

That’s why Orman says you’re better off focusing on your personal situation rather than keeping tabs on recession warnings. “When you don’t have an emergency savings account and your car breaks down and you need $300 to fix it and you don’t have it…who cares if there’s no recession?” she asks.

Orman also feels that even though recession warnings have waned recently, that doesn’t mean Americans on a whole are in a good place. “People still can’t afford to buy homes, they can’t afford to rent, and credit card balances are increasing dramatically,” she explains. “It does not matter if the economy is in a recession or not.”

She makes a really important point. U.S. credit card balances recently surpassed the $1 trillion mark. And housing affordability is at its worst level in almost 40 years. That hardly paints a picture of a great economy — even though a near-term recession may be off the table.

It’s best to focus on you

You may be relieved to hear that a near-term recession isn’t likely to happen. But that doesn’t mean you shouldn’t try to take steps to improve your own finances if you feel they need work.

Recent data from SecureSave found that financial stress among employees has skyrocketed. And 63% of workers today are unable to cover a $500 emergency expense.

If that’s a boat you’re in, try setting up an automatic transfer that allows some amount of money to leave your checking account each month and land in savings. If you can only afford to part with $50 a month, so be it. And if it’s less, that’s okay, too. But it’s important to build up some sort of personal emergency fund so you don’t immediately have to resort to credit card debt when unplanned expenses arise.

Hearing that a near-term recession is now less likely may be giving you comfort. But, as Orman says, “You can have a thriving economy and you can still be on the highway to poverty.” So rather than focus on the big picture, focus on yourself, and take steps to build yourself a financial safety net.

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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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Have an HSA? Read on to see why it pays to get as close to maxing out contributions as possible. 

Healthcare expenses can strike at any time. And while you could always put extra money into your savings account to cover them, a better bet may be to contribute to a health savings account, or HSA.

During the first six months of 2023, the average HSA balance was $4,397, according to a recent report by Bank of America. HSA balances also grew almost 12% from the end of 2021 to the end of 2022.

Not everyone can fund an HSA, though. To be eligible, you must be enrolled in a high-deductible health insurance plan. This year, that means having a plan with an individual deductible of $1,500 or more, or a family-level deductible of $3,000 or more.

But if your plan qualifies, then it pays to try to max out your HSA this year if you can (and also, in the future). Doing so could not only set you up nicely to cover sudden medical expenses, but it could also shield more of your income from taxes.

A great account to take advantage of

Whether your current HSA balance is more than $4,397, less than $4,397, or around that amount, it almost doesn’t matter. Your goal should be to contribute as much money as possible to your account this year, and every year going forward that you’re eligible for an HSA.

And if you’re thinking, “I’m generally healthy and don’t need to spend much on medical bills,” you may want to reconsider.

First of all, an injury can happen at any time. So even if you’re someone who trains for marathons and eats piles of vegetables daily, you’re not immune to breaking a bone or getting hurt and needing treatment that leaves you liable for a host of out-of-pocket expenses.

Secondly, HSAs are extremely flexible in that you can carry funds forward and use your money at any time. You’re actually encouraged to carry money forward, because HSAs let you invest unused funds so your balance can grow. And so while you might have great health now, in your 20s or 30s, things might look different once you reach your 60s.

What’s more, contributing heavily to an HSA means avoiding taxes on more of your income. This year, HSA contributions max out at $3,850 for self-only coverage and $7,750 for family coverage. So if you’re single and hit that limit, you’ll have $3,850 of earnings that the IRS won’t tax you on.

Meanwhile, investment gains in an HSA are tax-free. So are withdrawals used to cover qualified healthcare expenses.

There’s really no risk with HSAs

You may be hesitant to grow your HSA balance too much for fear of ending up with money you don’t need. After all, what if your health remains strong through the years and, come retirement, you have a $300,000 HSA balance?

Fidelity says the average 65-year-old retiring this year can expect to spend an average of $157,500 on medical expenses throughout retirement. If you end up with a similar tab, a $300,000 balance leaves you with an overage.

When you’re under 65 years old, HSA withdrawals used for non-medical expenses are subject to early withdrawal penalties. But once you turn 65, those penalties go away, thereby allowing your HSA to serve as a backup retirement savings plan.

In any scenario, HSA withdrawals used for non-medical purposes are subject to taxes. But so are traditional IRA or 401(k) withdrawals. So all told, if you wind up with extra money in your HSA beyond what you need for healthcare spending, you’re really not in a bad spot at all. You can just wait until your 65th birthday and use that money any way you please.

That’s why it pays to try to grow your HSA balance — regardless of how it compares to the average today. The more money you have in that account, the more tax savings you get to reap, and the more of a financial cushion you get to enjoy down the line.

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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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