Money Management

You can buy your groceries in bulk at Costco, but did you know you can also purchase travel? Read on for testimonials from a few satisfied Costco vacationers. 

Taking the occasional vacation is one of the best things you can do for your mental health, as it’s wonderful to get a change of scenery, have new experiences, and take a break from work. Unfortunately, vacations don’t come cheap. There are ways to save, such as by considering a road trip rather than flying and renting a car. But if you want a trip with all the bells and whistles with less hassle and perhaps at a lower price, you should consider Costco Travel.

Yes, Costco sells travel packages! They are exclusively for Costco members who live in the U.S., and come with upfront pricing and as Costco puts it, “the value you want with the quality you expect.” A few of my colleagues here at The Ascent were kind enough to share their experiences with Costco Travel, so let’s take a look at their vacations and see what kind of comparable trip you can take.

1. A five-star honeymoon in Greece

Destination(s): Athens and SantoriniDuration: Seven days (October 2022)Cost: $4,500 (covered hotel stays, transportation to/from airports and ferries, and complimentary arrival drinks at hotels)

Savannah Esworthy and her new husband booked their honeymoon through Costco Travel, and opted for five-star hotels for a luxury experience. They booked their own airfare separately, however, because they wanted to use travel rewards points for that cost.

Savannah called out the transport between airports and hotels specifically. “Our drivers were never late, they were always friendly, and they offered information to stay in touch with them during our stay in Santorini.” The hotels were also “absolutely stunning,” and a representative from Costco Travel had told them that this was a honeymoon trip, so the newlyweds truly had the red carpet rolled out for them.

Want to take a similar trip?

I took to Costco Travel to build a Greek adventure for two (including flights this time). For a week in September 2023, for two people and stops in Athens and Santorini, I came up with a price of $13,781. This trip includes airfare from New York, stays in three luxury hotels (two in Athens, one in Santorini), and land and ferry transport. This trip represents a hit to your checking account, but being able to sit back, relax, and let Costco handle everything might be just the ticket.

2. Eight wonderful days in Mexico

Destination(s): Playa del CarmenDuration: Eight days (June 2023)Cost: $5,230 (included optional insurance, airfare and transportation to/from resort, resort stay, concierge service, and room upgrade)

Mary Henderson took a trip to a resort in Playa del Carmen, Mexico with the help of Costco Travel. The $5,230 charge included airfare, as well as travel insurance, which is optional but may be a good idea if you’re booking the vacation of a lifetime. Mary rated her trip a perfect 10/10, noting that “Costco travel makes everything seamless.” This extended to flight delays or cancellations, since “someone is working behind the scenes” to ensure all pieces of your vacation are adjusted accordingly. She’s glad she sprung for the travel insurance, as it provided additional peace of mind.

Want to take a similar trip?

If you want to spend eight days in Mexico, you could be looking at a cost of $4,612. This price included flights from New York to Cancun, Mexico and seven nights at an adults-only all-inclusive resort for two. It also includes travel to and from the airport when you arrive.

3. An Alaskan voyage that never was — but that came with an easy refund

Destination(s): Various places in Alaska, and both land and sea travelDuration: Two and a half weeksCost: N/A

Maurie Backman, a fellow writer here at The Ascent, had booked an epic trip to Alaska for her family of five for August 2020. Unfortunately, COVID-19 got in the way of those plans, as it did for so many aspiring vacationers. But she did get a refund, with the help of Costco Travel. Maurie noted that using the service was “like having my own personal team of travel agents.” This came in handy, especially since many cruise lines weren’t rushing to refund passengers for canceled bookings. As Maurie put it, “Costco got in touch with them on our behalf and made sure we got our money back.” She hopes to rebook this trip in the future, and plans to use Costco Travel again.

Want to take a similar trip?

To price this one out, I looked to Costco Travel’s cruise section. For a 14-day trip with Holland America that will take you from Vancouver to Fairbanks, with many enticing stops along the way (including a few days in the majesty of Denali, America’s tallest mountain), you’d be looking at $1,974 per person, with included taxes and fees. This doesn’t include airfare — for a flight from New York to Vancouver at the start of your journey and the trip home from Fairbanks to New York, I found Google Flights prices of $185 and $262 (not including baggage fees or other extras, and this is the economy fare).

If you already love Costco for groceries, gas, tires, electronics, and beyond, why not give Costco Travel a try? You’ll benefit from a team of travel professionals who know how to give you the worry-free experience of a lifetime.

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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.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Alphabet and Costco Wholesale. The Motley Fool has a disclosure policy.

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Amazon is offering a limited-time credit. Read on to see how to get it. 

Many consumers are very excited about Amazon’s upcoming Prime Day event, which is slated to take place on July 11 and July 12. During this time, Prime members can expect a host of deals, from household goods to apparel to electronics. And now, Amazon is offering customers a chance to snag a $5 credit right in time for the big event.

Could you use extra money for Prime Day?

Amazon is running a promotion that can help customers score a free $5 credit to use on the site. All you need to do is purchase a $50 Amazon e-gift card between now and 2:59 a.m. EDT on July 10, and you’ll get a credit added to your account. You can then redeem that credit for a Prime Day purchase — though you don’t have to.

Your $5 credit will actually be available for redemption through Aug. 25. So if you’re not looking to shop on Prime Day, you can reserve it for another time.

Now, there are a few rules you should be aware of if you’re going to pursue this promotion. First, you can only snag one $5 credit per Amazon account. So if your plan is to purchase multiple $50 gift cards to score multiple credits, that won’t work.

Secondly, your promotional credit can’t be used to purchase products sold by third parties, or sold through third-party areas of Amazon.com.

Also, you don’t have to give that gift card to someone else. You can use it yourself. If you have items you need to buy from Amazon, or expect to buy in the near term, then you might as well purchase a gift card. Then, instead of charging your next $50 purchase on a credit card, you can simply use your gift card balance.

Should you plan to shop during Prime Day?

There’s a good chance you’ll be privy to savings on a host of items during Amazon’s Prime Day event. But that doesn’t necessarily mean it’s a good time to shop.

If money is tight and you already have debt, then you should probably steer clear of Prime Day, as it might tempt you to spend money you can’t afford to part with. And frankly, if you can’t afford to be spending on extra purchases, then a $5 promotional credit isn’t going to make a huge difference for you.

On the other hand, if money isn’t tight, Prime Day could be a good opportunity to check some items off your wish list. You might also want to get organized and see if you can make some holiday gift purchases ahead of time during Prime Day.

Granted, Amazon will likely run sales around Black Friday and Cyber Monday. But the discounts available on Prime Day might be even deeper than what you’ll find later on in the year. The tricky thing, of course, is that you can’t see into the future, so it’s hard to know if it pays to shop now versus later. But if you see solid discounts now, you may want to take advantage of them.

You should also know that if you’re not yet a Prime member, you can sign up for a free 30-day trial and get access to Prime Day deals. You don’t need to commit to a paid Prime membership ahead of the mega sale, which takes some of the pressure off.

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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. The Motley Fool has a disclosure policy.

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Before I head out to Costco or Sam’s Club, I do this one thing. Find out my rule that I must follow so I don’t end up with unnecessary items. 

I shop at Sam’s Club pretty regularly and I also occasionally shop at Costco. Whenever I go into either of these big-box stores, though, I have a rule for myself that I absolutely will not break.

Here’s my requirement for myself when I shop at a warehouse club store.

I won’t break this rule at Costco or Sam’s Club

Whenever I shop at Sam’s Club or Costco, the unbreakable rule I’ve set is a simple one: I will not buy an item that is not on my shopping list.

See, these warehouse clubs are set up to make you walk through a bunch of different departments to get to the essentials like groceries. And I was finding that whenever I visited, I would get sidetracked by something I didn’t really need. I’d come home with sneakers, a set of new dishes, some cupcakes from the bakery, or a whole host of other items.

I was often able to justify this to myself precisely because the warehouse clubs have good prices — and because their stock of items changes regularly, so I could argue with myself that if I didn’t buy it, it might be gone the next time I came in.

Ultimately, though, this was giving my credit cards a workout and I was ending up spending money on things I didn’t really need. Of course, I’m not alone in that, with a 2022 survey commissioned by Slickdeals indicating that the average person makes up to $314 per month in impulse purchases. But Sam’s Club and Costco seemed to present such a huge temptation for me to buy things that I didn’t need, and I was afraid my spending would end up getting out of control.

I set a rule for myself that if the item is not on my list, I don’t buy it. I can decide to make a new list and come back later to get it — so if it is something I really, genuinely want enough to go back for, then I might end up getting it. But adding this extra obstacle gives me time to think things through — and ensures I only buy things I really want badly enough to make another warehouse club trip.

Don’t let impulse buys eat up the savings your membership should offer

Most people join Sam’s Club or Costco to try to keep more money in their bank account — not to end up spending extra money on all the cool impulse items they have there. So making a list can be a good habit to start with before going to shop at these warehouse club stores.

Sticking to a list can help you stay within budget and avoid making purchases you could end up regretting. And, like me, you could always add items to a list if you genuinely want them and are willing to go the extra mile to get them — which helps ensure the surprise spending you’re doing is valuable to you.

Of course, you may be disciplined enough to steer clear of Sam’s Club and Costco goodies without following this rule — if so, you’re a better shopper than I am!

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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.Christy Bieber 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.

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When choosing a neighborhood, location is what I focus on. Here’s why location can make or break your home. 

I am hoping to buy a house soon. This isn’t the first property I’ll buy. In fact, I’ve purchased both a primary home and a vacation home, and I’ve moved several times so I have bought a few different places.

After spending over a decade as a homeowner, I’ve come to clearly define my priorities when looking for properties. When I look for houses to buy now, there’s one thing I consider above all else before I’m willing to get a mortgage loan and make an offer. Here’s what it is.

This is my No. 1 criteria for homes I’m interested in

As I look for houses, the most important thing I am considering is the location where the property is. Specifically, I have some very detailed demands for where I want my house to be located. I want the house to be:

In a safe area so I don’t have to worry about my kids playing outdoorsIn an area where we can walk to parks, restaurants, and other activitiesIn a place where I can get to the majority of places I want to go without having to sit in traffic for long periodsIn an area with a good school district On a lot where I do not have rear neighbors

All of these things are essential for me to be able to enjoy living in a house. I’ve learned this over time as I’ve had bad experiences with noisy neighbors located behind my house, and have had even worse experiences buying a property in a high-traffic area. The delays were so bad, I didn’t even want to leave the house half the time.

A good school district is also important to me, both because I have children who may attend school there some day and because I know that parents care about this issue — so a good district is essential to maintaining property values.

Why location is so important to me

Location is my No. 1 priority over other issues such as what the house looks like inside because location is the one feature of a home that absolutely cannot be changed. I can’t pick up my house and move it elsewhere because the traffic is bad, and I can’t make rear neighbors disappear even if I really don’t like them.

Things like a daily commute and the ability to get to stores and restaurants easily will have a much greater impact on my ability to enjoy my life than things like an updated kitchen or a luxury spa-like master bath. These types of home features may seem attractive at first glance, but you usually get used to them over time. And a dated bath or a kitchen with older cabinets isn’t likely to be a constant annoyance like sitting in traffic for hours would be.

While that’s not to say I don’t also want a pretty house if I can find it, location will always be the biggest deal breaker — and I’d rather have a less perfect home in an ideal location.

Ultimately, every home buyer needs to set their own priorities. But, I firmly believe location should be No. 1 for most people due to the profound impact it can have on every other aspect of your life.

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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.Christy Bieber 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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When you get your first real job, you should try to maximize your money by investing some of it. Here’s what else you should do. 

When you get your first “real” job and start making a proper salary, you get to decide what to do with all of that money that’s coming in. Unfortunately, if you don’t make a conscious plan for how to save and spend it, chances are good your money won’t go as far as you think it will and you’ll end up spending it in suboptimal ways.

If you want to make the most of the money now being deposited into your bank account each payday, here are a few steps you need to take.

1. Pay yourself first

One of the first and most important things you should do when you start making good money at your first real job is to arrange to pay yourself first. Essentially, this means you treat saving for your future as you would any other must-pay bill like your rent. Saving isn’t an afterthought, but is instead a priority.

One way to make this happen is to arrange to have money transferred out of your checking account on payday into various savings accounts and retirement plans. For example, you could have some money put into an emergency fund, some into a down payment fund, and some into a retirement plan.

When you’re young, you have the power of time on your side, so even saving a small amount now could make a big difference later in your life thanks to compound interest. Investing just $150 a month from age 25 to age 65 could leave you with close to $800,000 in retirement funds, assuming you earned a 10% average annual return.

Establish the habit of paying yourself first now so you get used to saving before you spend.

2. Make and live on a budget so you can spend the money on things you value

The next big thing you need to do is to make a budget. This probably doesn’t sound fun, but, here’s the reality: You’re going to spend money on things, so you may as well make sure you’re spending it in a way that brings you the most joy. Budgeting enables you to do that.

When you make a budget, you can make conscious choices about where your money goes. Say you really want to travel. You can make that a priority in your budget so you can ensure you’re devoting a good amount of your income to funding vacations and make the conscious choice to cut back in other areas.

This is a way better way to make the most of your money than just spending mindlessly on dining out or buying clothes or taking Ubers instead of public transportation and then getting to the end of the month and realizing you don’t have any money to go on that weekend trip.

3. Avoid committing your hard-earned money to creditors

Finally, aim to avoid committing your money to creditors so you can actually make the most of your salary. Limit your credit card charges to the amount you can pay back each month. And don’t borrow for anything you don’t absolutely need (like a vehicle to get you to work).

If you take these three steps, you can make the most of your income from your first real job and set yourself up to effectively manage your money as your salary grows over time.

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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.Christy Bieber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool has a disclosure policy.

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