Save money at the pump with these simple steps. Oleggg / Shutterstock.com
American drivers love their cars but loathe the cost of gas. Whether prices at the pump are rising, falling or holding steady, fueling up is often one of the biggest household budget-busters. Fortunately, there are ways to fight back. Even small savings can be a boon for you. With that in mind, we present the best ways to save money on gas every time you pull up to the pump.
Costco memberships at a reduced price are hard to come by. Read on to find out why that is.
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There’s a reason Costco charges members a fee to gain access to its network of warehouse club stores. Those fees serve as an important source of revenue for Costco, and they also allow Costco to offer competitive pricing on everything from groceries to cleaning supplies to apparel.
Right now, a basic Costco membership costs $60 a year, while an Executive membership costs $120. The higher-priced Executive membership gives you 2% cash back on all Costco purchases, including online orders.
If you’ve been looking to join Costco, you may be holding out for a promotion that has memberships going on sale. But that’s unlikely to happen anytime soon for one big reason.
Costco isn’t the only warehouse club chain you could opt to join. Many consumers love Sam’s Club, which not only offers cheaper memberships to begin with, but commonly runs promotions that result in a lower cost for the first year of membership. Right now, for example, teachers can save 60% on the cost of a Sam’s Club membership through Aug. 17.
But if you’re hoping for a similar deal through Costco, you’re out of luck. Costco rarely, if ever, discounts memberships, and the reason is simple: It doesn’t need to.
Costco has seen its membership base grow through the years. And since it’s become clear that consumers are willing to pay full price for a membership, there’s little motivation for Costco to offer up discounts.
This doesn’t mean Costco doesn’t offer promotions. As a member, you might enjoy numerous savings opportunities throughout the year, from discounts on specific products to car-buying incentives through Costco’s auto program. But don’t expect to spend less than $60 on a basic membership or $120 on an Executive membership, because that’s unlikely to happen.
In fact, during a recent earnings call, Costco CFO Richard Galanti was quoted as saying, “The biggest thing that we don’t do is in any big way discount our membership…you can look at our competitors and see what they do. There’s a lot more promotional activity going on elsewhere. And we’re still getting, as I mentioned on the call, year over year 7% increase in new memberships.”
So clearly, a lack of discounted memberships isn’t hurting Costco from a customer growth perspective.
If you’re interested in joining Costco, you should expect to pay full price for a membership. But the savings you reap in return might more than make up for your yearly fee.
If you spend $60 a year on a basic Costco membership but save $100 on food and other purchases over 12 months, you’re ahead $40. So if you have a Costco store nearby and it’s feasible to shop there often, then it pays to give it a chance.
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Of course, if the idea of paying full price for a warehouse club membership doesn’t sit well with you, then you could always look at other options, like Sam’s Club. But Costco really does offer a unique shopping experience. So you may want to spring for a membership and at least try it out for a year.
Plus, right now, you can actually take advantage of a fabulous Costco promotion. Though you’ll still spend $60 for a one-year basic membership, you’ll score a $45 Digital Costco Shop card you can spend in stores or online, plus $40 off an online order of $250 or more. You’ll also get a promo code for a $100 Digital Costco Shop card when you spend $2,500 or more on a Costco travel package.
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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 and Gala. The Motley Fool has a disclosure policy.
And as climate change dries out the landscape, future fires in these areas of the U.S. could become more destructive. Ringo Chiu / Shutterstock.com
Wildfires are a devastating threat to homeowners everywhere, especially in the Western U.S. These blazes wreak havoc in the lives of thousands of people every year. Surprisingly, federal government data shows that the number of wildfires has decreased slightly over the past three decades. However, in recent years, the amount of area that typically burns in each fire is on the rise.
You may decide to leave a job that sponsored your 401(k) with a vesting schedule. Read on to see what funds you’re entitled to.
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If you’re self-employed and have to figure out retirement savings on your own, you can open an IRA and build your nest egg there. But the downside of saving in an IRA is that you need to fund that account yourself. You won’t be eligible for an employer match, since you don’t have an employer.
On the other hand, if you work for a company that sponsors a 401(k) plan, you may be entitled to matching dollars that help you grow more retirement wealth. An estimated 98% of companies that offer a 401(k) plan offer matching contributions to some degree, according to a survey by the Plan Sponsor Council of America. And those matches can take on different forms.
In some cases, your employer might match a percentage of your salary up to a certain point. So you might, for example, get a 3% match if you put in 3% of your salary. Other employers might offer a dollar-for-dollar match up to a certain limit, so if you put $3,000 of your earnings into a 401(k), your employer will give you another $3,000, regardless of what percentage of your salary that sum amounts to.
But if your employer has a vesting schedule, you’ll want to be aware of it. And if you leave your job before fully vesting in your 401(k), you may have to forgo some or all of the matching dollars your employer gave you.
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There are different types of vesting schedules your 401(k) might be subject to. The type of schedule your employer uses will determine how much money you get to walk away with if you leave your job before vesting in full.
Some companies do a graduated vesting schedule where you get a percentage of the total match you’re entitled to every year. So if your employer has a three-year vesting schedule, you might get 33% of your match your first year, another 33% the next year, and so forth. In this situation, if you were to leave after two years, you’d generally be entitled to 66% of your match.
Other companies employ an all-or-nothing vesting schedule where if you leave before the end of your vesting period, you get $0. So in the case of a three-year vesting schedule like that, leaving after two years would mean giving up your employer match in full.
Leaving a job before vesting in your 401(k), or vesting in full, could cause you to lose out on employer matching dollars. But rest assured that any funds you contribute to your 401(k) out of your own earnings are yours to keep in full, regardless of when you leave your job.
So if you put $3,000 into your 401(k) and your employer offers a $3,000 match, you may not get that match in full depending on when you decide to move on. But the $3,000 you put in is yours no matter what, the same way you’d be entitled to keep a $3,000 deposit you decide to make to a regular savings account.
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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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