Money Management

Is a Walmart+ membership really worth it for you? Read on to find out. 

Given that living costs have gotten more expensive recently, many consumers are quite invested in doing what they can to save money. And it’s reasonable to think that doing more of your shopping at Walmart could allow for a decent amount of savings, given the store’s reputation for competitive prices.

In fact, you may be taking that concept one step further by paying for a Walmart+ membership. At an annual cost of $98 (or a monthly cost of $12.95), it’s a reasonable sum of money for the various perks you get, like free shipping on online orders of any size and no-cost grocery delivery. But if these signs apply to you, it means a Walmart+ membership may be nothing more than a waste of your money and a drain on your personal finances.

1. You don’t like to order groceries online

One major perk of a Walmart+ membership is getting fresh groceries delivered to your door at no cost. All you have to do is meet an order minimum of $35.

But some people don’t like the idea of somebody else hand-picking their groceries. An in-store shopper may not pay as close of attention to expiration dates as you would, and they may not select the freshest produce. As such, you might prefer to head over to Walmart and do your shopping in person. But in that case, you’re forgoing a big benefit of Walmart+.

2. You don’t have a car

Walmart+ members can save $0.10 per gallon of gas at more than 14,000 stations nationwide. But if you don’t have a car, that’s a perk you clearly won’t get to take advantage of.

That said, it may be that because you don’t own a car, you tend to take advantage of free grocery delivery with your Walmart+ membership. And that alone could justify keeping that membership active. But if you’re not getting cheaper gas or free grocery delivery, then you may be spending your money needlessly.

3. You don’t access your free streaming content

Another perk of a Walmart+ membership is a free Paramount+ subscription. But if there are other streaming services you tend to favor, and you’re also not placing many grocery delivery orders or taking advantage of discounted gas, then that should prompt you to reconsider paying for a membership.

4. You do most of your online shopping on Amazon

Your Walmart+ membership gives you access to free shipping on Walmart purchases made online with no order minimum, similar to how Amazon Prime members get free two-day shipping on orders of any size. But if you already have a Prime membership and use it a lot, then your need to place orders on Walmart may be minimal. So if you find that you’re rarely putting in those orders, then it may be time to cancel your membership.

A Walmart+ membership could be a good thing to have. But if these signs apply to you, it means that by keeping yours, you may be wasting money rather than saving any. And that’s clearly not what you want.

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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. Maurie Backman has positions in Amazon.com. The Motley Fool has positions in and recommends Amazon.com and Walmart. The Motley Fool has a disclosure policy.

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When it comes to home renovation projects, there’s a lot of false information. Learn what happens when you believe this common myth. 

Myth: Home renovations always increase your home’s value.

Truth: Some home renovations will increase your home’s value, while others will cost more than the value they deliver.

Yes, one of the biggest myths home renovators believe is that every home renovation will automatically boost the value of their house by at least as much as they pay for the project. But according to recent data from Remodeling Magazine’s 2023 “Cost vs. Value” report, only a few projects on average will improve your home value by as much as you pay. Which projects will increase your home’s value the most? Let’s take a look.

To boost your home’s value, replace doors and improve energy systems

On average, the project that returns the most value for homeowners is converting fossil-fuel heating equipment to electric heat pumps. According to Remodeling Magazine, electrifying your HVAC in this way would cost about $17,747, but would add roughly $18,366 to your resale value. All in all, that’s a 103.5% recoup of your costs.

Next on the list are door replacements, specifically garage and entry doors. These low-cost projects can boost your curb appeal by freshening up some of the first features home buyers notice. According to the report, a garage door replacement would cost about $4,302, but could add $4,418 in resale value, while a steel entry door would cost roughly $2,214 and add about $2,235 in resale value.

Re-siding your home could also boost your home value by as much as your project costs, though you’ll have to be picky about what materials you use. According to the report, replacing the bottom portion of your home with a band of stone veneer would recoup about 102.3% of your costs, adding $11,117 in resale value but costing only $10,925. Residing with fiber cement, however, would cost $19,361 but add only $17,129 in resale value.

Avoid upscale kitchen and bathroom renovations

Contrary to popular opinion, renovating a bathroom or kitchen doesn’t always boost your home’s value — at least not by as much as you pay for it.

Looking again to the Remodeling Magazine report, upscale bathroom renovations are one of the poorest projects in terms of resale value. With an average cost of $104,733, the resale value on an upscale bathroom would add about $27,830, for a meager 26.6% return on your investment.

What does an upscale bathroom renovation look like? Well, according to the report, it would be a bathroom sporting a neo-angle shower with “ceramic tile walls, accent strip, recessed shower caddy, body-spray fixtures, and frameless glass enclosure.”

Another poor investment would be a major kitchen remodel, which would include upscale custom white cabinets with built-in sliding shelves, stone countertops, built-in commercial-grade appliances, and a high-end sink with designer faucets. The project, on average, would cost about $154,483 and recoup only 31.7% of your costs for a resale value of $48,913.

Should you renovate your home?

First, keep in mind that home renovations are fine if they benefit your well-being, fulfill a need, and are something you can pay for out of pocket or with financing (like a second mortgage). But when done to boost the equity of your home, you should be choosy, as not every project will return in equity what you pay upfront.

RELATED: Best Mortgage Lenders

You can use the Remodeling Magazine report to get a good idea of which projects on average yield the most return, but talk to a real estate agent for a better idea of what’s popular in your area.

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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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Dollar Tree has many great items for sale. Take a look at some products you may want to purchase to upgrade your home decor. 

Dollar Tree has a much bigger selection of products than you might imagine. And what’s great is that while these items are bank-account friendly, they don’t necessarily look “cheap”. In fact, you can pick up many great items for your home that will enhance your decor without leaving you with a big credit card bill.

If you’re not sure where to start, check out these five awesome items that no one would guess cost just $1.

1. Holiday decorations

Dollar Tree offers holiday decorations for every season. Whether it’s Easter, Christmas, Valentine’s Day, or even the Fourth of July, you can find holiday gear at Dollar Tree.

With Halloween on the horizon as the next major holiday, Dollar Tree already has some great offerings, including a Plastic Lighted Witch Cauldron with Fog, a three-tiered pumpkin decoration, and a large plastic spider that looks much more attractive than it sounds.

If you enjoy being festive, you can easily afford to get a whole bunch of different holiday decorations at Dollar Tree so you’ll be able to celebrate every occasion.

2. Plates and glasses

Dishware can be expensive, even from discount stores like Sam’s Club, where you’ll usually pay around $40 or more for a 16-piece set of plates. That comes out to $2.50 apiece at a minimum.

At Dollar Tree, you can get really nice sets for $1.25 per piece. Cutting the price in half really makes a difference, especially if you need a service for 12 and are buying 48 pieces total. At Sam’s Club, that would cost you about $120 compared to $60 at Dollar Tree.

Dollar Tree has ceramic, stoneware, and melamine plates, so no matter what your preferred dish material is, you should be able to find it. There are also both plain and patterned plates to match every style.

3. Picture frames

Dollar Tree has a good selection of picture frames in all sizes, as well as in a variety of colors and styles. And, again, you’ll pay only $1.25 for them.

Dollar Tree’s products also look nice and are comparable to higher-priced items. For example, while ten 4×6 black frames from Dollar Tree would cost you $12.50, you’d pay $18.99 for almost identical ones from Amazon.

4. Vases

Vases can be used for flowers, but can also be used for a wide variety of different household accents. For example, you could fill a frame with wine corks for the kitchen or with colorful bath salts for the bathroom.

At Dollar Tree, you can get a great selection of both clear and colored vases. These come in all different sizes and styles, including neat little metal bucket vases with rope accents that are for sale on Amazon for $14.99 for a two-pack.

5. Candles

Finally, you can get wax candles and battery-operated flickering candles from Dollar Tree. This includes scented candles. While you could pay as much as $31 for a scented candle from big-names like Yankee Candle, Dollar Tree candles look and smell just as nice. And, since you’re just going to burn them and throw them away, there’s little reason to make a huge financial investment in your candles.

If you want to make your home look nice while saving money on your home decor, be sure to give all of these items a close look.

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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. Christy Bieber 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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Residents, commuters, and travelers should prepare for public transit fare increases in New York City. Find out how much more you’ll pay beginning later this month. 

Many New York City residents use the city’s public transit system to get around. If you live in or plan to visit the Big Apple soon, you should know that transit price increases are coming this month. On Aug. 20, Metropolitan Transportation Authority (MTA) subway, bus, and commuter railroad fares will rise. This change will impact the checking accounts of residents, commuters, and travelers. Here’s what you need to know so you can budget accordingly.

Expect these New York City Transit increases

The following price increases will impact those who use New York City Transit:

The base fare for the subway, local buses, and paratransit will rise from $2.75 to $2.90.The 7-Day Unlimited Ride pass will increase from $33 to $34.The 30-Day Unlimited Ride pass will increase from $127 to $132.The Express Bus Plus pass will rise from $62 to $64.Discount program benefits for students, seniors, and Paratransit customers won’t change.Those who purchase a 7-Day or 30-Day Unlimited Ride pass at the current care must begin using it by Aug. 27 or request a refund and buy a new pass at the new rate.

Expect these Long Island Railroad and Metro-North fare changes

These price changes will impact Long Island Railroad (LRR) and Metro-North Railroad riders:

Monthly and weekly tickets will increase by up to 4.5% across both railroads.Monthly ticket fares will not exceed $500.The discount for traveling off-peak will be standardized to 26% across all railroads.There will be no fare increase for any ticket type on the Metro-North Port Jervis and Pascack Valley lines.All other ticket types will increase by as much as 10%. However, any ticket increase greater than 6% will be held to a maximum increase of $0.50 per trip.LIRR and Metro-North will continue offering UniTicket fares to travel on commuter rail and connecting bus and ferry services. These fare changes will be based in part on changes to weekly and monthly transit fares, and one-way tickets for MTA-managed connecting services will also change.All tickets purchased at the old fare will remain valid through their stated expiration dates.Monthly tickets at the new fare will go on sale on Aug. 25 for September, and weekly tickets at the new fare will go on sale on Aug. 23 for the week of Aug. 26 through Sept. 1.

What you need to know about fare pilot changes

The MTA is implementing new fare pilots and will change some existing ones.

Here’s what to expect:

OMNY

Your first tap starts a new 7-day cap. If you spend $34 (or $17 for reduced-fare customers) within seven days, you’ll ride free for the rest of the week. If you spend less, you’ll only pay for the rides you take. Your cap will reset every seven days. Group trips, express bus taps, and transfers don’t count toward your weekly cap.

More CityTicket pilot options

CityTickets customers pay a $5 flat-fare ticket to travel within NYC limits during off-peak hours. MTA will now introduce a Peak CityTicket for travel during weekday peak hours for $7.

Atlantic Ticket and 20-Trip Peak Ticket pilots are being discontinued

The $5 One-Way Atlantic Ticket and $60 Weekly Atlantic ticket will be discontinued. The 20-Trip Peak ticket will be discontinued as travel patterns return to normal post-COVID.

Tips to spend less on public transit

Whether you live in the Big Apple or not, you may be looking for ways to save money on public transit costs. Here are a few tips to help keep your costs to a minimum:

Don’t forget about discount programs: You may qualify for reduced fare prices if you’re a senior, a student, a person with a disability, or are in a low-income bracket.

Buy unlimited ride passes: Instead of paying per ride, do the math to see if you can save money by purchasing an unlimited weekly or monthly ride pass. While you’ll have to pay more upfront, you could save money in the long run.

Kids may ride free: Some public transportation systems allow kids to ride for free. If not, kids may qualify for reduced-fare prices. Review fare policies so you don’t overpay.

Before you swipe your credit card for your next subway or bus ride, consider whether there are strategic ways to save money on public transit costs. Looking for more ways to save money? Check out our personal finance resources for additional tips.

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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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It’s important to actively choose investments for your 401(k). Read on to see why. 

There’s a key difference between IRAs and 401(k)s aside from the fact that 401(k)s come with much higher annual contribution limits. IRAs also allow you to invest your money in individual stocks.

But 401(k) plans generally do not allow you to invest in stocks individually. Instead, these employer-sponsored plans typically give you a choice of funds to invest in. And if you don’t actively choose your 401(k) investments, you might end up unhappy with the type of fund your money lands in.

When you’re left with the default option

When you don’t choose investments for your 401(k), in most cases, your money will end up in a target date fund. Target date funds are designed to adjust your asset allocation as different milestones near. What’ll typically happen in a 401(k) is that your target date fund will start you off with more aggressive investments, like stocks, when you’re younger, and then shift you over to more conservative investments, like bonds, as your target retirement date nears.

Target date funds are a good option for people who want to take a “set it and forget it” approach to 401(k) investing. And as of the end of 2022, a good 96% of 401(k)s offered target date funds, says Vanguard. So clearly, they’re quite popular. But just because they’re popular doesn’t mean they’re perfect.

One drawback of target date funds is that they tend to err on the side of investing conservatively. So you might lose out on higher returns in that regard.

Also, target date funds are known to charge fees that are on the high side, the same way mutual fund fees tend to be higher. Those fees could eat away at your returns in your 401(k), making it harder to meet your savings goal.

Take control of your money

If you’re going to work hard to fund a 401(k), then it really pays to take an active role in investing your money rather than just let it land in a target date fund. Of course, 401(k)s, by nature, limit the extent to which you can invest. But it’s a good idea to explore the different funds your plan offers and see what your choices entail.

One smart bet may be to invest your 401(k) in index funds. Index funds are passively managed — they simply aim to match the performance of the indexes they’re pegged to. So an S&P 500 index fund, for example, would invest in S&P 500 companies and aim to perform comparably to the S&P 500 itself.

The great thing about index funds is that their fees tend to be considerably lower than target date funds and mutual funds. That’s a good way to avoid losing money needlessly.

Of course, you may end up deciding that a target date fund is actually a good choice for your 401(k). And that’s totally fine. The key, however, is to do some research and make a decision — rather than let your money land in a fund you may not want to invest in.

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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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