This is your guide to throwing a memorable summer bash without straining your wallet. Photographee.eu / Shutterstock.com
Editor’s Note: This story originally appeared on Living on the Cheap. You like to entertain, but you can’t afford to spend a fortune every time you invite people over for a party. Here is our guide to saving money when planning for a summer party or barbecue.
Some banks charge monthly maintenance fees on accounts. Here’s when it may be worth paying them.
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Some banks charge monthly maintenance fees for checking accounts. These fees could add up over time. And since there are financial institutions that don’t charge for being a customer, you may wonder whether it is ever worth picking a bank that imposes this type of cost.
The answer to this question isn’t necessarily as straightforward as you’d think, though. To decide if a bank with a monthly maintenance fee is worth it, consider these issues.
Paying a fee only makes sense if you are getting something that wouldn’t otherwise be available to you. For example, if the bank is linked with a savings account that offers a particularly competitive rate or if the bank provides a generous rewards program when you use your debit card, then it might be worth opening an account there.
Other features that might justify choosing a bank with a fee could include locations close to your home, customer-only access to a safe deposit box to store your valuables, or a large mobile deposit limit that other banks may not offer.
But, if the bank has no special features that you can’t get elsewhere, the big question is, why would you ever pay a fee to maintain your account there? It just wouldn’t make sense.
The next thing to consider is whether you can avoid the fee. Most banks that charge monthly maintenance fees enable you to avoid them if you comply with certain requirements. For example, you may be able to have your fee waived if you directly deposit money into the account or if you maintain a certain minimum daily balance. You might be able to sidestep the fee if you also have a savings account and transfer a set amount of money into it each month.
If your hope is to open an account with a bank and avoid the fee, be sure you really understand what you need to do in order not to pay. For example, if you have to maintain a certain balance, how is that balance calculated? Is it the amount in your account at the end of the month or is it your average daily balance (which is calculated by adding up your balance each day and dividing the total by the number of days in the month)?
You don’t want to assume you’ll meet the requirements to avoid a fee, only to find out that you didn’t really understand how the rules work and you’re having money taken out of your account that you didn’t expect to lose each month.
Ultimately, you may just decide that you find it more convenient not to have to worry about your bank charging you money for your account, so you may decide to opt for an account without the chance of a fee. But, if you find a bank that offers tons of great perks and that enables you to get the fee waived, then there’s no harm in opening an account there to take advantage of all the benefits it has to offer.
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Property taxes are a huge expense for this writer, but moving doesn’t make sense for her. Read on to see why.
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I own a home in New Jersey, which has the dubious distinction of having the highest property taxes in the nation. And while my property taxes weren’t always as high, these days, my bill is around $20,000 a year. Clearly, that’s not ideal. And what’s also so frustrating is that I can’t come close to writing off my property taxes in full.
Thanks to a change in the tax code a few years back, the state and local tax deduction is capped at $10,000. That only covers about half of my tab. But while I’m not thrilled with my property tax burden, I also don’t plan to move anytime soon for these reasons.
I could move to another state where property taxes aren’t nearly as expensive. But buying a new home means signing a new mortgage loan. And that’s not something I want to do right now.
Mortgage rates are higher today than they’ve been in years. And I happen to have a low interest rate on my current mortgage thanks to the refinance I did back in 2020, when rates were much lower. In fact, the low interest rate on my mortgage helps offset the high cost of my property taxes, since my mortgage payments themselves are quite manageable for a home in my neck of the woods.
There are different towns I might consider moving to within New Jersey that have lower property tax rates than my town. But in a lot of those towns, home prices are higher. The same holds true for nearby states — what I might gain in the form of a lower tax rate, I’m likely to lose in the form of paying more for my home and having higher mortgage payments to deal with.
I could save money on property taxes by moving to a neighboring state. But the taxes there aren’t exactly a bargain, either. So all told, I don’t really feel like I’d gain much financially.
I don’t love the fact that my property tax bill is so astronomical. But at the same time, I don’t have many better options.
I’m somewhat tethered to the East Coast to be relatively close to family (though I don’t have any in New Jersey, they’re within driving distance) and also due to the nature of my husband’s job. And also, as a mom, it’s important to me to live in an area with good schools.
A big reason our property taxes are so high is that a lot of that money gets pumped into the school system. So while I wouldn’t want to be paying these taxes if I didn’t have kids enrolled in school, at least I feel like I’m getting something out of them.
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If you’re a fan of Trader Joe’s, it’s worth visiting the store this July. Read on for some products you might find on the shelves now.
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Shopping at Trader Joe’s is sort of like going on a culinary adventure. That’s because Trader Joe’s is constantly bringing new products to its lineup to keep customers happy and well-fed. And if you’re not so familiar with Trader Joe’s, you should know that the store’s low prices can be a great source of savings on groceries. Here are a few new items you may want to try out this month.
There’s perhaps not a more perfect summertime treat than ice pops. And Trader Joe’s has taken that concept to a whole new level with its Strawberry Lemonade Ice Bars. They’re sweet, tangy, and downright refreshing. Grab one for dessert or a tasty afternoon snack on your deck. You can score a six-pack for $3.29. But let’s be real — you’ll probably want multiple six-packs to stuff in your freezer.
Vegans everywhere, rejoice! Gone are the days of your meat-eating peers gobbling down their delicious pulled pork sandwiches while you’re left with a pile of leaves on a bun. Trader Joe’s is selling these 10-ounce packages of pulled jackfruit, which is said to resemble the texture of pulled pork or brisket. They come with a smoky, spicy barbecue sauce that makes for a tasty meatless meal — all for $2.99.
Trader Joe’s does snacks really well, so it’s not surprising to see a new candy mix, this time of the licorice variety. Trader Joe’s Trio of Soft Licorice Twists features raspberry, mango, and green apple flavors. Bust some out in the evening while you watch TV or sneak some in between afternoon meetings — no one will judge you. An eight-ounce pack costs just $2.49.
Trader Joe’s has really upped its cheese game through the years. If you’re a fan of cheddar, consider this blend with onions and chives for just $11.99 per pound. It’s smoky and tangy, and you can snack on it with crackers or slap it on a sandwich for a super yummy lunch. You can even grate some into an omelet to take your breakfast to the next level.
You might be aware that there’s a lingering Sriracha sauce shortage that’s been messing with a lot of people’s dinners. Thankfully, Trader Joe’s has you covered with this Chunky Garlic & Jalapeño Hot Sauce. You can pour it on eggs, whisk it into a pasta dish, or drizzle it over a taco to give your meal a nice kick. A 10-ounce bottle will cost you just $3.99.
If your goal is to keep your meals and snacks interesting without racking up a giant credit card tab, then it pays to do your food shopping at Trader Joe’s. Your personal finances and your taste buds will thank you. But if these items sound amazing to you, don’t wait. You never know when they might leave the store’s rotation, so be sure to get ’em while you can.
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Travel rewards cards are an easy way to save money on your next vacation. Find out why it’s a good idea to act now if you want a travel credit card.
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Travel credit cards can help you cover the cost of airfare, hotels, and other travel expenses. They’re a good way to save and make your budget go further, whether you travel often, or you have a vacation coming up and you want to make it memorable.
If your next big trip is still a ways off, you might be wondering if getting a travel card can wait. For example, if you’re planning a vacation for next summer, does it really make sense to get a travel credit card right now? The answer is yes, because waiting too long could leave you short on points.
When you get a travel card, you can use it to start earning points on your purchases. You can then redeem your points for travel expenses. You’ll typically earn anywhere from 1 to 5 points per $1, depending on the card and the type of purchase. As you may imagine, earning points this way isn’t an overnight process.
But many travel cards also have large welcome offers. These are introductory bonuses for new cardholders, and some are worth 50,000 to 100,000 points. Welcome offers allow you to accumulate points much more quickly. To earn one, you normally need to meet a spending requirement, such as $4,000 spent in the first three months.
Now, even though welcome offers speed up the process, it still takes time to earn them and receive the bonus. You need to meet the spend requirement. Most cards give you three to six months to do this. Once you meet the spend requirement, you don’t receive your bonus points right away. Most credit cards state in their terms that it can take up to two months.
That means you’re looking at:
Three to six months to meet the spend requirementOne to two months to receive the bonusSo a total of four to eight months, depending on the welcome offer and how quickly you meet the spend requirement
You also still need time to book your travel. Whether you’re paying in points or cash, it can cost more to do this at the last minute.
Another thing to keep in mind is that welcome offers can change. Let’s say you find a travel card you like with an 80,000-point welcome offer.
There’s no guarantee how long that welcome offer will stick around. In two weeks, the credit card company could decide to drop it to 60,000 points. If that happens, you could end up missing out on an extra 20,000 points, just because you waited to apply. Those points may have been worth an extra $200 or more in travel.
It’s always better to have plenty of breathing room with travel cards and reservations. So, even if your trip is a year or more down the road, pick a travel credit card and apply now. You’ll be able to earn more points, since you have more time, and book your trip farther in advance.
If you’re not sure about how to travel using credit card points, or which card to pick, here are some resources to help:
How to Travel for Free With Credit Card PointsBest Travel Rewards Credit CardsTravel Credit Cards With No Annual FeeCredit Cards for International Travel
Travel rewards cards can seem a bit complicated at first, but it’s easier once you get the hang of managing them. Once you get a card, the next step is to spend enough to earn the welcome offer. After that, you can look for ways to use those points to book the trip you want.
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Many people buy Costco products online. But read on to see which part of the Costco website you also need to look at.
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Many people shop at Costco to save money on things like groceries and household essentials. And one benefit of shopping at Costco, aside from the lower credit card tab you might rack up in the course of feeding your family and maintaining your household, is that the warehouse club giant is known to stand behind the products it sells. This means that if you wind up dissatisfied with a Costco product, you can generally take it back for a full refund. You can even return partially-eaten food if you have an issue with quality or taste and Costco will give you your money back.
Now Costco does its best to only sell items that meet the highest standards of quality. But sometimes, things can happen that are beyond Costco’s control. And there may come a point when an item you buy at Costco is subject to a recall.
Rest assured that Costco will do everything it can to make things right in that situation. But if you don’t check the recall section on Costco’s website, you may not learn about recalls that could apply to you.
Checking the recall section of Costco’s website probably isn’t something you need to do on a daily basis. But if you’re a regular Costco shopper, you may want to take a look once a week, or every couple of weeks, to make sure your Costco purchases aren’t impacted.
The good news is that Costco tends to do a good job of updating this section of its website as necessary. So checking in every so often might spare you from consuming or using a product that isn’t safe.
Costco has a generous return policy for items that aren’t recalled, as evidenced by the fact that you can bring back food you simply don’t like. So it would stand to reason that if you buy something there that’s recalled, you’ll either get your money back or you’ll be eligible for a replacement item if applicable.
For example, right now, there’s a recall on the Novaform ComfortGrande 14″ and DreamAway 8″ Mattresses sold by Costco. Some of these mattresses may have been exposed to water during the manufacturing process and, as a result, could have developed mold after being packaged for shipment.
Sleeping on a moldy mattress could have health implications. And frankly, it’s icky. But Costco is offering impacted customers one of two options — get a refund, or get a replacement item delivered at no cost. Both options include the free removal of the mattresses that were recalled.
There’s also a recall on the Rader Farms Organic Fresh Start Smoothie Blend sold by Costco, due to possible hepatitis A contamination. In this case, the only option is to get a refund, not a replacement. But still, that’s perfectly reasonable.
All told, Costco is a firm believer in customer satisfaction. You can rest assured that if you buy something there that ends up getting recalled, you won’t be out any money. So do yourself a favor and check the recall section every so often, just in case.
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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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