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To those of us who live in Seattle, Kirkland is a charming waterfront suburb. I most associate it with a quirky tiki bar that’s now long gone and a friendly kitchen store that repaired my beloved stand mixer. But to devoted Costco shoppers, the word “Kirkland” means the store’s exclusive private brand, Kirkland Signature. Many stores have a house brand, but few, it seems, are as ubiquitous as…
Sam’s Club is a great place to shop, but many end up wasting money there. Learn about ways people waste cash, including buying items that go bad quickly.
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Shopping at Sam’s Club is a great way to make sure your bank account doesn’t take a big hit when you buy household items or personal care items.
As most people know, Sam’s is a members-only warehouse club that offers great discounts on many products. So, whether you’re trying to stay out of credit card debt or accomplish other financial goals by spending less, it can be worth shopping there.
However, while Sam’s provides the opportunity to save, not everyone ends up better off financially by being a member. In fact, there are four common ways that people could find themselves wasting money with their warehouse club purchases. Here’s how.
One of the biggest ways people waste money at Sam’s Club is by buying bulk items they will not finish before they go bad.
One big reason Sam’s saves people money is by providing large quantities of items at low prices. For example, you can buy a bag of 48 string cheeses for just $9.74 which comes out to $0.20 per item. That’s a great price, coming in at around half of what you’d pay elsewhere.
The only problem is, that’s a lot of cheese to eat and it’s very possible you might not be able to devour 48 of those things before they end up going bad — unless, perhaps you’re running a daycare center or you just really like cheese.
If you end up tossing half or more of the items you buy in the trash because of the fact you’re just getting too many of them, this is a huge waste of both money and food (or other consumables).
If you buy trusted brands you know you like, this isn’t a big risk. But, if you venture out and try something new at Sam’s that you haven’t sampled, you’ll likely end up wasting a lot of money since the quantities are so large.
After all, if you buy a $4.99 bag of 12 string cheeses and it turns out your toddler turns his nose up at them, you haven’t lost nearly as much as if you got that 48-pack Sam’s sells.
There’s another big risk to shopping at Sam’s. The store has a lot of cool stuff, and you could end up purchasing it on impulse because the prices seem so good. The only issue is, if you got a great deal on something you didn’t really need, you still wasted the money that you spent on it.
This has been a big issue for me and it’s why I now try to shop exclusively online for Sam’s Club purchases. I have an entire dish set in my cabinets purchased from Sam’s on impulse, and if I visit the store too often, stuff like that happens and I will quickly find myself out of space and out of money.
Finally, if you are not using a credit card that offers you a good amount of bonus cash back, points, or miles for shopping at Sam’s, you’re wasting money. Card rewards can provide a percentage back of what you spend and there’s no reason to leave that cash on the table.
You can look into a Sam’s Club credit card that offers bonus cash back for club purchases and gas, or can get a general purpose card that gives you added rewards for warehouse club purchases. Just be sure you’ve found a card that gives you the most bang for your buck to avoid wasting money by forgoing rewards.
The good news is, you can make sure you don’t fall into any of these traps now that you know about them — and by being the wisest Sam’s shopper you can be, you can take full advantage of the store without wasting your hard-earned cash.
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The wealthiest investors are a rule unto themselves, but there is still a lot to learn. Here’s where their money is going.
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Some people feel that mimicking the strategies of the wealthy can help them gain their own wealth. Others understand that the top 1% have different options — and priorities — than folks in lower wealth brackets, so their investing strategies will be quite different.
Whichever camp you’re in, we all agree that the investing choices of the ultra-wealthy are at least worth exploring. One such study from Bank of America is of interest. The survey talked to 1,052 high-net-worth households with at least $3 million in investable assets.
They were asked questions about their own asset allocations, as well as their opinions on investing trends. Here’s what was revealed.
Despite the cultural cliché of stock brokers on speed dial, stocks make up less of these investors’ assets than one might otherwise assume. Equities made up only 52% of the average asset allocation overall. But that’s not the interesting part.
When broken down by source of wealth — “legacy” wealth versus “head start” wealth versus “self-made” wealth — it turns out that those who inherited their money invest less in the stock market than their counterparts. Respondents in the legacy wealth group had an average 44% stock allocation, while self-made investors had an average stock allocation of 57%.
That’s still not the most interesting find, however. It’s the age breakdown. For regular folks, the percentage of investments made up of stocks tends to start out high, then get smaller as folks get closer to retirement. This strategy makes sense, since stocks are considered riskier investments than most alternatives.
The ultra-wealthy do it differently. Specifically, the young and wealthy do it differently. Study respondents in the 21 to 42 age bracket had an average of just 25% of their investments in equities — the lowest number across the board.
Why the dropoff? The study attributed a lot of this difference to market confidence, saying, “Seventy-five percent of younger people agreed that ‘It’s no longer possible to achieve above-average returns’ on traditional stock and bonds alone. In comparison, only a third of the older group showed the same skepticism.”
If they don’t trust the stock market, where are the younger high-net-worth households putting their money? Well, there’s the usual suspect of real estate, with young folks showing nearly as much confidence in the real estate market as the older respondents.
But the big difference between the two age groups focused around alternative investments. For example, 29% of younger respondents in the study said that cryptocurrency and other digital assets present “a leading opportunity to create wealth.” And at least some of them are putting their money where their mouth is on this one; the average asset allocation for crypto was 15% in that age group.
Other alternative investments were also of interest, with a quarter of younger investors seeing the growth potential in private equity investing. The same percentage of young investors said investing directly into companies could offer the greatest opportunities for growth.
The younger generations also seem to have more (market) confidence in themselves. Eighteen percent of younger investors were optimistic about the growth potential of investing directly in themselves, via their own companies and personal brands. (In contrast, only 6% of older investors felt this was a good area to invest their wealth.)
While even young high-net-worth investors are split about where to best allocate their assets, there seems to be strong agreement on one investing trend: sustainable investing. Study respondents in that 21 to 42 age group are adopting sustainable investments at a rapid pace, with 74% saying they currently hold sustainable investments in their portfolios.
This is more than three times the amount held by older investors (they’re at just 21%). More interesting, though, is arguably the fact that both groups more than doubled their investments in this area over the last four years.
Age isn’t the only indicator of sustainable or socially aware investments. The study also found that among high-net-worth investors, women were 13% more likely than men to prioritize these investments — 49% versus 36% — and people of color 24% more likely than white investors.
If the idea of so many ultra-wealthy investors looking outside the stock market makes you want to run off and sell, sell, sell — stop. Take a breath. Just because young millionaires aren’t as gung-ho for the stocks and funds as their parents doesn’t mean your portfolio is doomed.
These glimpses into the investing habits of the wealthy are solely that: glimpses. Consider this a look at how investing might be evolving in the future; much more food for thought than field guide to wealth.
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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.Bank of America is an advertising partner of The Ascent, a Motley Fool company. Brittney Myers has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America. The Motley Fool has a disclosure policy.
You don’t have to spend a lot of money to have fun with your kids this summer. Find out how to score cheap movie tickets at AMC Theaters now through August.
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You’re likely looking for affordable activities to enjoy with your kids while they’re on summer break from school. The good news is not every activity or experience will drain your checking account balance. In fact, a trip to your local movie theater may be more affordable than you realize.
If you and your kids enjoy watching movies together, you don’t want to miss this exciting movie promotion. Kids and adults can watch kid-friendly flicks this summer at an affordable price through AMC’s Summer Movie Camp program.
AMC Theatres hopes to make it more affordable for families to go to the movies this summer. Through AMC’s Summer Movie Camp, families can watch kids’ movies without going broke. Select films will play at participating AMC locations on Wednesdays and Saturdays June through August.
Select movies on Wednesdays cost $3 per ticket, while select movies on Saturdays cost $5 per ticket. Thanks to these low prices, you can take your entire crew to see a film on the big screen without disregarding the personal finance goals you’re working hard to reach.
Here’s a list of the movies being shown and the dates each film will play:
DC League of Super-Pets: June 3 and June 7Minions: The Rise of Gru: June 10 and June 14Paw Patrol: June 17 and June 21Puss in Boots: The Last Wish: June 24 and June 28Kung Fu Panda: July 1 and July 5Trolls World Tour: July 8 and July 12Mummies: July 15 and July 19The Secret Life of Pets: July 22 and July 26The Boss Baby: Family Business: July 29 and Aug. 2Shrek 2: Aug. 5 and Aug. 9Sing 2: Aug. 12 and Aug. 16The Croods: A New Age: Aug. 19 and Aug. 23Sonic the Hedgehog 2: Aug. 26 and Aug. 30
These discounted prices only apply to the movie of the week. Regular ticket prices apply to other movies playing at your local theater. If you’re looking for a fun activity for those days when it’s too hot or rainy to spend time outdoors, this promotion could be a win for your wallet.
If Wednesday or Saturday showings aren’t suitable for your schedule or you’re hoping to see another movie, there’s another way to save money. AMC offers cheaper tickets on Tuesdays.
Exact discounts vary by location. On Discount Tuesdays, you can also buy a small combo, which includes a small popcorn with a small fountain drink or ICEE, for $5.
You must join the AMC Stubs loyalty program to take advantage of this deal. It’s free to join the AMC Stubs program as an Insider tier member. You can enjoy discounts on movies on Tuesdays and earn rewards when you spend money at AMC Theatres, so don’t miss this deal.
It’s possible to plan a fun-filled summer without overspending. Making spending decisions that result in expensive credit card debt is never a good idea. Even with a limited budget this summer, you can create lasting memories with your family and friends if you take advantage of deals like this.
Another way to have fun without spending much money is to attend free community events. Don’t feel pressured to spend beyond your means as you make plans to fill your kids’ summer break with fun and excitement.
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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.Natasha Gabrielle 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.
It cost me about $15,000 to study abroad for 10 weeks in metropolitan London. Here’s how the costs broke down.
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My time studying abroad was the best 10 weeks of my life. Cliche but true. I was with great people, I budgeted my money, and I enjoyed the heck out of exploring London. But the once-in-a-lifetime experience didn’t come cheap.
My trip ended up costing about $15,000 for 10 weeks of foreign education, which is almost as much as it cost me to pay for a full year of tuition at a public university.
I was hemorrhaging money, even though I did well sticking to my daily budget. Here’s about how much it cost me to study abroad in college for a summer, broken down by significant spending categories.
Study-abroad programs sometimes lump together tuition and housing costs, as mine did. I had to live in a specific unit with my classmates. We boarded in Kensington, one of the most expensive parts of London.
The upfront cost of tuition and housing was $9,650 in total. I paid that and the funds were deducted from my college savings.
I was able to shave off $1,000 by applying for a program-specific scholarship. These are typically uncompetitive, and your chances of winning one are high: I only had to beat out a grand total of one other student to earn that $1,000.
Ticket prices typically peak during summer. I paid about $820 for a round-trip ticket from LAX to Heathrow Airport. Price-wise, location matters. It’s also worth noting that those tickets would have been dramatically cheaper in winter.
I recommend booking tickets as early as possible to save on flight fees. And don’t forget about summer price inflation.
Food cost me about $150 per week, an estimated total of $1,500. About $360 of that went to groceries. I tried to eat at home whenever possible, preventing costs from spiraling out of control. Even so, I had to revise my budget to account for overspending.
Tracking how much I spent was difficult. I relied on pen and paper, a slow and tedious process. I recommend taking advantage of modern technology to make your life easier (see below for some tips).
In a big city like London, entertainment costs sneak up on you. Pubs, theaters, books, transport, and a train trip to Northern England cost additional dollars, adding thousands to my study abroad expenses. I won’t pretend I dutifully kept track of those — I didn’t.
Let’s round up and say I paid about $2,000, or $200 per week, in miscellaneous expenses. Then add $1,000 on top of that because it’s easy to underestimate costs. (Better safe than sorry.) That’s $3,000 in miscellaneous travel expenses, on top of the necessities.
Absolutely. Despite going over budget, I have no regrets (alright, fine, maybe I could’ve drank at the pubs a bit less). Spreading jam over fresh baked bread at the banks of the Round Pond, reading Shakespeare and teasing friends, was incredibly fun. However, I can think of several things that might’ve made the trip cheaper and more convenient.
I could have used a budgeting app to track my expenses automatically. It would have necessitated less receipt-collecting on my part. I had an entire binder of receipts by the trip’s end, and I often lost track of them entirely.
I could’ve picked up a credit card that was widely accepted abroad. I used Discover, but many shops turned me away because they only took Mastercard or Visa. I didn’t realize my mistake until it was too late. I frequently had to search for nearby ATMs to withdraw cash.
Consider tossing together a quick-and-dirty budget with whoever is in charge of your college expenses. I spent half an hour to an hour with my mom, outlining how much money she would need to transfer to me from my college checking account. It was helpful, and I’d recommend it.
Studying abroad can be a top-tier experience, made better by quick trip planning. Some of the biggest things to consider are (1) where you are studying and (2) for how long. Apply to program-specific scholarships to shave down costs. And remember, when in doubt, round up!
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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.Discover Financial Services 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 Mastercard and Visa. The Motley Fool recommends Discover Financial Services and recommends the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool has a disclosure policy.
Thinking of joining Costco? Read on to see why you may want to act quickly.
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Many people save money by shopping at Costco regularly. The warehouse club giant is known for its competitive pricing on everything from food to cleaning supplies to apparel.
But if you’ve been on the fence about joining Costco, you may want to act quickly. Right now, there’s a promotion at play that will effectively help you save 50% on the cost of a basic membership. But it expires on June 11, so you’ll need to make a decision pretty quickly.
Discounts on Costco memberships are pretty hard to come by. In fact, during the company’s most recent earnings call, CFO Richard Galanti said, “We do a few promotional things each year. But the biggest thing that we don’t do is in any big way discount our membership.”
The reason for that is twofold. First, Costco relies on membership fees to generate revenue, and it’s because of those fees that the company is able to offer such competitive prices on the items it sells. If it were to discount memberships, it might result in higher prices on goods.
Also, Costco doesn’t need to discount its memberships because people keep signing up to join. Recently, the company enjoyed a 7% year-over-year increase in new memberships. So there’s no particular motivation to offer discounts.
If you sign up for a Costco membership this week, you won’t get a discount per se. You’ll still have to pay $60 for a basic membership or $120 for an executive membership, which gives you 2% cash back on Costco purchases. But if you enter the code SUMMER23 when you sign up for a new membership online and enroll in auto renewal of your annual membership, you’ll get a $30 Costco Shop Card as a thank you.
So in a nutshell, if you sign up for a basic Costco membership but take advantage of this promotion, it’s like you’re really only paying $30 for your first year. That’s because you’re apt to find a way to spend $30 at Costco easily.
If you’ve been thinking about joining Costco, you might as well do so at a time when you can snag some spending cash at the store. But still, even if the cost of your first year of membership effectively gets whittled down to $30, you’ll want to make sure you’re getting your money’s worth.
To that end, think about your habits and housing situation. If you rarely cook, you may not end up buying many groceries at Costco. And if your home is tiny and lacks storage space in a serious way, it may not be feasible to take advantage of Costco’s bulk discounts. (After all, you don’t want to have to store rolls of toilet paper in your living room.)
Also, think about the access you have to Costco. If the nearest warehouse club store is a 45-minute drive away, you may not get over there that often. And what you save on the products you buy at the store, you might spend on gas.
But if you do decide that it makes sense to give Costco a try, then you might as well sign up for your membership by June 11. Promotions like this one are somewhat rare, so jump on the opportunity while you can.
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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.
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