Some of these strategies are a little different – but they work. gualtiero boffi / Shutterstock.com
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Costco is constantly offering additional sales on top of its low prices. Read on to see what’s discounted this month.
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Some people try to limit their Costco shopping to groceries and household essentials alone. But Costco’s inventory goes well beyond food and basics like toilet paper. You can buy everything from electronics to kitchen gadgets to apparel at Costco, and often at a lower price than at other retailers. You may want to take a look at these specific items from Costco, since they happen to be discounted right now.
A laptop upgrade is probably not something you’ll do on a whim, since there’s a hefty cost involved. But if you’ve been saving for a new laptop, you may want to check out this Lenovo model.
Right now, Costco has it for $400 off online (though note that prices can vary between Costco’s website and what you see at your local warehouse club store). It’s powered by a 12th Gen Intel® Core i7-12700H (14-Core) Processor and is wifi- and Bluetooth-enabled. It also features an integrated webcam and a backlit keyboard.
Plus, when you buy a laptop at Costco, you get a second year warranty included for free. You also get free tech support should you need help setting your laptop up or navigating issues with it.
Grilling season may be coming to an end. But that actually makes now a good time to buy a new grill, because there’s less pressure to make a near-term purchase. You can take your time comparing models and prices to see what works best for you.
One option to consider is this Kirkland gas grill. It features 737 square inches of cooking surface, LED knobs, and a grill cover for added protection. Do note, however, that assembly of the grill isn’t included in your final price.
You’ll often hear that the best time to shop for seasonal items is right after their specific season wraps up. So it’s not so surprising to see men’s swim trunks on sale at Costco right now. If you’re looking to stock up for the summer of 2024, it’s a good time to pounce, since you’re likely to rack up a smaller credit card tab.
A great way to save money is to make coffee at home rather than buy it daily from your local coffee shop. Costco has this Keurig model on sale for $40 off. It allows you to choose between five different brewing strengths and five cup sizes. It also comes with an 18-pod starter pack.
If you’ve been trying to get your home organized, a label maker might help you get the job done. Costco is offering this Brother P-Touch label maker at a discount this month. It allows you to save up to five options for instant reprinting and features easy-to-peel labels for indoor use. You can also personalize your labels with different fonts and emojis.
Many people just spent a small fortune of money on back-to-school shopping. So if your personal finances are pretty tight right now, it may not be the best time to jump on these Costco bargains. But if any of these picks fulfill a specific need for you, and you can afford them, then you may want to consider adding them to your shopping cart.
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.
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.
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.
Think it’s too early to shop for the holidays? Read on to see why it could pay to get a jump start now.
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At this point of the year, many people are focused on trying to pay off the debt they racked up in the course of summertime travel. Others are grappling with back-to-school expenses.
So given that it’s still early September, you may not be all that focused on checking items off of your holiday shopping list. But actually, now may be a good time to start your holiday shopping if you can afford to.
Many consumers remember the 2021 holiday season as one wracked with frustration. That year, supply chain backlogs came to a head, causing a world of stress for people who were trying to shower family members with gifts.
Unfortunately, we may be in for somewhat of a repeat scenario this year. And it’s all because of drought conditions in Panama.
Panama is in the middle of one of its driest seasons on record. Because that’s resulting in lower water levels in the Panama Canal, officials are putting restrictions on vessel weights and daily traffic through the waterway.
Right now, those restrictions aren’t impacting U.S. retailers all that much. But if drought conditions persist and the situation worsens, we could be in for a repeat of 2021 to some degree.
That’s why it could pay to kick off your holiday shopping ASAP. If there are specific items on your list already, head to the stores (or look online) and aim to check them off if prices seem reasonable. If you wait too long, you may not be able to find all of the things you’re looking for.
The advice to start shopping for the holidays in September hinges on one key thing — your ability to afford extra purchases right now. If you have money in savings earmarked for non-emergency expenses, you can dip into your cash reserves to cover your holiday purchases. Similarly, if you’re commonly left with extra money in your paycheck after covering your essential expenses, then you can use that cash to buy gifts now, while store shelves are still nicely stocked.
But one thing you don’t want to do is rack up a credit card balance you can’t pay off in full because you’re doing your holiday shopping ahead of time. Many people specifically save money in the months leading up to the holidays to cover their costs. But if you were planning to save well for the holidays in September, October, and November, it means that it may be too soon to do a lot of shopping because you don’t yet have the money.
Either way, if you’re going to do your holiday shopping in September, spend a little time getting yourself organized first. Figure out exactly what you can afford to spend, and make a list of gifts and purchases by order of priority so you know where to focus your resources and efforts.
With any luck, the supply chain disruptions caused by drought conditions in Panama will end up being minimal in the context of holiday shopping. But we just don’t know how things will shake out. So if you have the money now and would rather not take the risk, start shopping ASAP to avoid having to make compromises.
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.
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.
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.
Americans are saving hundreds of dollars in reduced overdraft fees. Find out how to pay zero overdraft fees.
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Overdraft fees are the devil. Seriously. They drain your accounts. Worse, you’re typically charged these banking fees when you need money most.
I’ve lost hundreds of dollars to back-to-back overdraft fees. Mostly pre-pandemic, back when I was a fresh-faced collegiate with nary a credit card to my name. But the times are a-changin’.
I bring good news: You may be saving money without realizing it.
Banks charge you overdraft fees for attempting to withdraw more money than you have in your checking account. Costs go as high as $37 per attempted withdrawal. These can quickly stack up. The average American pays $250 yearly in overdraft fees.
But there’s good news. According to a recent CFPB report, banks are charging smaller and fewer overdraft fees. In recent years, Bank of America slashed its overdraft fee to $10, Chase instituted grace periods, and U.S. Bank doesn’t charge you for minor infractions.
Those savings add up. The CFPB estimates the average overdrafted American saves $150 annually in reduced fees compared to pre-pandemic levels. If your bank frequently charges you overdraft fees, you’re probably saving even more.
That’s excellent for your wallet, but what gives? Brick-and-mortar banks may be changing policies due to stiff competition for your business. Put simply, you have options — and many of these options are blessedly free of overdraft fees.
READ MORE: Checking Account Fees and How to Avoid Them
Many online banks are fee-free, for the most part. They don’t charge monthly fees or overdraft fees. That’s a huge perk. After all, you put cash in checking accounts to spend it and keep it safe, not to shell out backbreaking fees. After college, I switched banks to take advantage of zero-fee options.
Chime is my current fee-free banking app. I’ve opened a combined Chime Checking and Savings account. It’s a basic account that I can manage from an easy-to-use app. The 2.00% APY on savings deposits isn’t the best, but it’s better than what most traditional banks offer.
Click here to apply now for a Chime Savings Account.
SoFi (short for “Social Finance”) has caught my attention. It offers the SoFi Checking and Savings account combo similar to mine but with better interest rates on savings deposits — up to 4.50% APY with direct deposit. SoFi charges zero fees, and it offers overdraft protection in some cases.
Click here to apply now for a SoFi Checking and Savings.
Banking customers look to online banks as solid alternatives to brick-and-mortar options. And by doing so, we’re forcing big banks to charge less fees. (Nicely done, by the way.)
READ MORE: How to Open a Checking Account Online
Won’t or can’t switch banks? I get it. Switching banks can be challenging, especially if you’re a long-time customer. Sometimes, it’s not worth the effort. Even if you stick with banks that charge you overdraft fees, you can take steps to pay less and save more by making these moves.
Challenge unfair fees: You can contact your bank if you think you’ve been unfairly charged. I’ve done this, saving me about $100 yearly on back-to-back charges. You can do this by calling your bank’s customer service line and requesting a refund.Sign up for balance alerts: Some banks let you sign up for low balance alerts. Your bank notifies you when you’re low on funds (and therefore vulnerable to overdraft fees). You can often sign up online. If you have questions, contact a bank representative for assistance.Keep an eye on your balance: By monitoring your account and avoiding overdrafting, you’ll have a better chance at enjoying a fee-free experience.
And if you want to switch to one of the best checking accounts out there, well. You can. Go for it if you have the time, energy, and desire to bank better. The choice is yours.
Capital One is the only brick-and-mortar bank to grace The Ascent’s list of best checking accounts. One reason: It doesn’t charge overdraft fees on its Capital One 360 Checking account. It combines traditional banking — think real, physical branches — with modern perks.
Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts can earn you 12x the national average savings account rate. Click here to uncover the best-in-class picks that landed a spot on our shortlist of the best savings accounts for 2023.
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.JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Bank of America is an advertising partner of The Ascent, a Motley Fool company. Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America and JPMorgan Chase. The Motley Fool recommends U.S. Bancorp. The Motley Fool has a disclosure policy.
Your thinking on credit cards may be costing you money. Find out how to use credit cards the right way.
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Advertising distorts credit cards into life-changing products. In some ways, they are. But it’s easy for new credit card users to assume that credit cards earn you profits.
They don’t. No matter how much cash back they promise, you can’t profit by using credit cards. And if, by some minor miracle, you do earn more than you spend, then you’re in the tiny minority of spenders with astounding timing — and serious self-control.
Skeptical? Curious? Here’s what I mean when I say credit cards can’t actually earn you a profit.
When using credit cards, you almost always spend more than you make.
To profit from a credit card — truly profit — you’d need to earn more than you spend. For example, if you buy a $5 latte (ambitious, I know) and earn a generous $6 back in cash rewards, you’ve earned a $1 profit. Buying the coffee actually made you money.
The reality is closer to this: You buy that thrifty $5 latte and earn $0.05 in rewards. In absolute terms, you’re $4.95 poorer, even though you used a credit card.
But that’s not to say credit cards are useless. Used correctly, credit cards can function as simple, easy-to-spend loans that offer discounts on pretty much everything.
When you swipe your credit card, you earn perks. These perks are worth a fraction of what you spend — typically a tiny fraction. They’re like discounts, only they’re less straightforward. You may need to spend these perks on specific things, like airline miles.
Cash back credit cards most closely resemble discounts. They earn you cash when you spend. You can put that cash toward your credit card balance, retroactively “discounting” purchases. But what credit cards don’t do is earn you money.
Credit cards give you discounts on the dollar; sometimes, you can redeem these discounts as cash. This matters because it affects your spending habits.
For example, say you justify purchasing expensive headphones because “I’ll get cash back.” You may be overspending. Because sure, you could earn a discount via credit card rewards. But at the end of the day, you’re still spending more than you make with the credit card.
I’ve fallen for the trap of deciding to buy something because I get credit card rewards. Cue immediate buyer’s regret. Now, my strategy is to limit swipes to things I would have purchased anyway, regardless of whether I use a credit card. I’m far from perfect, but I’m getting better.
READ MORE: How to Maximize Your Credit Card Rewards
Some people profit from credit cards by swiping and wiping: signing up for credit cards, snagging the sign-up bonuses, and canceling cards. But these days, credit card companies attach restrictions to sign-up bonuses, making swiping and wiping difficult.
Let’s say you earn a sign-up bonus, earn rewards, and pay zero fees because you pay off monthly statements in full. Plus, you only spend on essentials: things you’re already planning to buy.
Nicely done. You’re using credit cards exactly right. You could even be said to be making a profit — after all, you’re earning more than you would by using cash. You may not need this article on how to think about credit cards. But no matter your record, the advice below still stands.
Credit card perks should not be the primary reason for making a purchase.
Only use credit cards to buy things you’d buy regardless. Otherwise, you may end up scratching your head, wondering why the heck you thought buying a second coffee table was a smart move. The grain is smooth, yes, but you’re still $150 poorer. A mistake? Could be, could be.
There are excellent reasons to use credit cards. To build credit. To pay flexibly. To consolidate loans. You can swipe confidently as long as you follow credit card best practices. Cards may not earn you income, but you can use credit cards to pay smartly and securely.
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.
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.
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.
Need a good home for your money? Read on to learn about some great options for this month.
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It’s unfortunate that many Americans these days are struggling to make ends meet. Recent data from SecureSave, in fact, found that 63% of workers don’t have enough cash on hand to cover a $500 emergency expense.
But if you’re in a strong enough place where you have extra money to stash away after covering your bills, then it’s important to find the right home for it. Here are some great options to consider this month (or even in the future for when your financial picture improves and you have more extra money at your disposal).
What would you say if someone were to offer you the chance to earn anywhere from 4.25% to just over 5% on your money with no actual risk attached? These days, those are the rates you’re looking at if you open a high-yield savings account. So if you have money you’re looking to stash someplace safe so you have it for emergency expenses, like home and car repairs, then a savings account is a good bet. Your deposit is protected for up to $250,000, provided your bank is FDIC-insured.
Now there are ways to earn a higher return on your money, and we’ll get into those in a minute. But funds that are earmarked for unplanned bills need to be accessible to you at all times. And you don’t want the value of your money to fluctuate based on market conditions, which is what happens when you invest. So for your emergency fund, stick to a savings account.
Based on today’s CD rates, you might earn a slightly higher interest rate on your money than with a regular high-yield savings account. But is a CD right for you? Well, that depends on what your money is for.
You’ll typically be penalized for cashing out a CD before it matures. So you generally don’t want to put your emergency fund into a CD, because you might need that cash at any time.
But if you have money you’re saving for a longer-term goal, rather than unplanned bills, then a CD could be a good bet. While you’re committing to keeping your money tied up until your CD comes due, you’re also guaranteed the interest rate you lock in. With a regular savings account, your bank could decide to start paying less interest at any time.
Money you’re socking away for retirement should sit in a tax-advantaged savings plan like an IRA. With a traditional IRA, the sum you contribute will exempt some of your income from taxes — provided you don’t exceed the annual limit, which right now is $6,500 for savers under 50 and $7,500 for savers 50 and over. So a $2,500 IRA contribution, for example, means you’re not paying taxes on $2,500 of your earnings this year.
You should know, however, that IRAs impose a 10% early withdrawal penalty for tapping your money prior to age 59 ½ (though there are limited exceptions). So make certain you’re really sure you want to keep your money earmarked for retirement before making an IRA contribution.
On the plus side, IRAs allow you to invest your money in stocks and other assets to grow your balance into a larger sum over time. You might earn a much higher return on your money with an IRA than with a regular savings account or CD.
Granted, the value of your IRA might fluctuate over time based on market changes. But because you might end up investing in an IRA over many decades, you have time to ride out stock market downturns and come out ahead.
A 401(k) plan generally has the same rules and offers the same benefits as an IRA, with one key exception — the annual contribution limits are higher. This year, you can put in up to $22,500 if you’re under 50 or $30,000 if you’re 50 or older. (For many of us, that’s unattainable, but it’s still good information to have.)
Another difference between a 401(k) and IRA is that with the former, you need an employer to offer you access to a plan (unless you’re self-employed and eligible for a solo 401(k) plan). But, many employers like to incentivize employees to sock money away for retirement by matching contributions to some degree. In other words, fund a 401(k), and you might score some free cash in the process.
Saving money in any sort of capacity is a wonderful thing. But it’s important to find the right home for your money. As a general rule, money you’re saving for emergencies should sit in a savings account, money for mid-term goals that you don’t want to invest should sit in a CD, and retirement money should sit in an IRA or 401(k) plan for the tax benefits these plans offer.
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.
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.
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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