You don’t have to spend a ton of money to live close to the water. Mark Winfrey / Shutterstock.com
Who doesn’t dream of living by the beach? While some landlubbers may prefer living far from the water, many of us dream of life near sea and sand. Unfortunately, the high demand for properties near the beach means these homes often cost more. But not always. Some beach towns have homes that are downright affordable, according to a recent survey by Realtor.com. The numbers crunchers at Realtor.
You may not know that Costco doesn’t take manufacturer coupons. Find out more about this rule and other interesting Costco facts.
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Costco is one of Americans’ favorite retailers and with good reason. The warehouse club offers great discounts that help shoppers keep more money in their checking accounts.
It also provides a huge selection of different products ranging from groceries to housewares, which is ideal for one-stop shopping. And, it even has delicious snack samples in store, as well as fantastic and unique Kirkland-brand food products that many people are eager to break out their credit cards to purchase.
But, while you may think you know a lot about Costco and all it has to offer, you may be surprised to find out these three facts about the warehouse store.
The first big surprise you might have when shopping at Costco is that you will not be able to use any manufacturer coupons. The store does not accept them, which you may not be aware of if you are used to shopping at grocery stores and other big-box stores.
Costco explains that it doesn’t take manufacturer coupons because it regularly distributes its own special offers to members. It also keeps everyday prices low while other stores price things higher with the assumption people will use coupons.
Still, if you’re expecting to use a manufacturer coupon at the register, you may not be prepared for this rule. Your best option is, when you have a good coupon, to compare the post-discount price with what Costco’s standard price is to see which is really the better deal.
Another huge surprise you may discover when shopping at Costco is that the store has a very generous return policy.
Specifically, it has a “100% satisfaction guarantee” and will allow you to return products and get your purchase price back at almost any time with a few exceptions such as electronics, tires and other products with a limited usage life, and diamonds.
This is great news if you buy a product from Costco that ends up being a disappointment. I actually put this into practice once and returned a Keurig that was several years old because I had waited a long time to start using it and it broke almost right away. Costco took it back and returned my money with absolutely no questions asked.
Finally, there’s one more big surprise you may encounter. Most people are aware Costco is a members-only warehouse club so they assume that membership is always required to make purchases. But, surprisingly, that’s not necessarily the case in every situation.
There are certain categories of products you can buy without a membership, including prescription drugs and, in some states, alcoholic beverages. You are also allowed to spend Costco gift cards without a membership, although you can’t buy Costco shop cards unless you’re a member. Still, if your friends or family are members and are willing to buy you a gift card once in a while, you can use that to get your Costco fix.
Now that you’re aware of these Costco facts, they won’t catch you by surprise and you can make more informed decisions about what to buy at Costco, how to buy it, and what to do if a problem arises after your purchase.
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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.Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Christy Bieber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.
Companies that are in financial distress sometimes need to file bankruptcy. Find out what to expect if you invest in a company and it goes bankrupt.
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Not every investment is going to be a success. Some companies may end up falling in value after you invest in them. In a worst-case scenario, it’s also possible that a company you’ve invested in goes bankrupt. Bed Bath & Beyond is one of the most recent examples, but there have been plenty of companies throughout the years that went from being successful to shutting down.
If you own shares in a business that filed bankruptcy, you’re probably wondering what happens next. Although this is never good news, the potential outcomes will depend on the type of bankruptcy filed. Businesses normally declare either:
Chapter 11 bankruptcyChapter 7 bankruptcy
Your stock broker will forward information to you from the company about what’s going on. Here’s what you can expect to happen and how you can protect yourself from these kinds of situations.
A Chapter 11 bankruptcy allows for reorganization and potentially rehabilitation of the business. Most publicly held companies file this type of bankruptcy because they can continue operating their businesses and control the bankruptcy process, according to the SEC. The company will need to file a plan with the bankruptcy court about how it plans to recover.
When a company files Chapter 11 bankruptcy, its shares may continue to trade. They will likely lose a large portion of their value, and they could be delisted from the major stock exchanges.
There are a few potential outcomes if a company you’ve invested in files Chapter 11 bankruptcy:
The company cancels its old shares and issues new ones. Your old shares would then become worthless.The company continues using its old shares. They may increase in value if it’s able to recover.The company isn’t able to recover. Common stock shareholders will be the last in line to get their money back.
The bottom line is that there’s a slim chance the company recovers and continues using its old shares. But it’s far more likely that it doesn’t recover, or if it does, it issues new shares. Here’s what the SEC says on its website about this: “In most instances, the company’s plan of reorganization will cancel the existing equity shares.”
Chapter 7 is a liquidation bankruptcy. The business ceases operations, and a trustee is appointed to liquidate its assets and pay off as much of its debt as possible. The payment order is based on bankruptcy laws, with secured creditors taking priority over everyone else.
Unfortunately for shareholders, they’re last on the list of who gets paid. It makes sense, because when you invest in a company, you effectively own a share of it. As such, you benefit much more than its creditors if the company is successful. This also means you take on more risk.
While it’s theoretically possible that you get some money back, it’s highly unlikely. The SEC says that “Stockholders do not have to be notified of the Chapter 7 case because they generally don’t receive anything in return for their investment.”
If a company you’ve invested in goes bankrupt, you could lose most or all of your investment. That’s why financial advice always preaches the importance of a diversified portfolio and not investing too heavily in a single company.
A good rule of thumb is to have at least 25 to 30 companies in your portfolio to reduce risk. It’s never fun when a company in your portfolio declares bankruptcy. But it’s much easier to handle if that’s 1 of 30 companies and not 1 of 4 or 5 companies.
Building a diversified portfolio can be time-consuming, and that’s why many people choose investment funds. These invest your money in a large number of stocks for you. Instead of needing to pick stocks yourself, you can pick one fund that invests in hundreds of them. A few of the most popular types of investment funds are:
Exchange-traded funds (ETFs)Mutual fundsTarget-date retirement funds
You can find plenty of these investment fund options at any highly rated stock broker. They’re an easy way to invest, and a great way to ensure that even if a company goes bankrupt, it won’t have too much of an impact on your portfolio.
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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.Lyle Daly has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.
See if your state ranks for the most dangerous in overall driver safety and car collisions. Monkey Business Images / Shutterstock.com
Editor’s Note: This story originally appeared on Forbes Advisor. Car accidents are a risk each time you get behind the wheel. In fact, a collision occurs once every five seconds and someone is injured in a crash once every 10 seconds. With so many accidents, it’s not surprising that motor vehicle crashes are the leading cause of death for people under age 54 in the United States and the eighth…
Here’s how to be ready for every question a hiring manager can ask while showing off your professional skills. Prostock-studio / Shutterstock.com
Editor’s Note: This story originally appeared on FlexJobs.com. Are you busy preparing for an upcoming interview? If so, there’s a good chance you’ll hear the phrase, “Tell me about a time you …” Regardless of the rest of the statement, these situational interview questions can be daunting unless you recognize what a terrific opportunity they present. This is your chance to highlight all you have…
You get spending power when you get added to a credit card, but it’s important to use it wisely. Read on to learn more.
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It’s estimated that 28 million U.S. consumers are considered “credit invisible,” according to Experian. That means they don’t have a credit history. And without one, the credit bureaus cannot establish credit scores for them. That’s a problem, though, because without a credit score, you might struggle to do everything from buy a car to rent a home to get approved for a credit card.
Now, it’s commonly the case that younger adults who have never had any bills in their name are credit invisible and therefore don’t have a credit score. But if you don’t have a credit score, getting a credit card of your own can be tricky to impossible.
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When that’s the case, your next best bet may be to get added an authorized user on somebody else’s credit card. But it’s important to understand exactly what that means.
From a credit score perspective, getting added as an authorized user on a credit card can be helpful. That’s because payment activity associated with that account will start to be recorded for your credit record.
So, let’s say your parents have a joint credit card and they add you as an authorized user. Let’s also say they then pay that credit card bill on time and in full every month. That positive activity will go on your credit record to help you not only build a history, but a positive one. And after a while, the credit bureaus should be able to establish a credit score for you.
Of course, the opposite could happen. If you’re added to your parents’ credit card account and they’re consistently late paying that bill, that’s negative activity that will go on your credit record. But ideally, that won’t happen.
Meanwhile, as an authorized user on a credit card, you’ll have the ability to swipe that card wherever it’s accepted. And you’ll be able to charge expenses on that card up to the account’s spending limit. It’s not like you’ll get your own separate spending limit.
Because of this, you’ll need to use that card very carefully. You’ll also need to come to an agreement with the primary cardholder(s) — in this example, your parents — and set some rules.
Your parents might agree that you can charge up to $200 in expenses per month on that card without having to pay them back. Or, they might say that you must pay for every expense you charge.
You’ll need to make sure to adhere to the rules for a couple of reasons. First, if you spend too much, you’ll risk going over your card’s credit limit. Secondly, if you charge too many expenses, your bill might be unpayable. And that could cause damage to your credit score when you’re trying to build one up.
Becoming an authorized user on an existing credit card account could be a great way to establish a credit history and get yourself a credit score. Just be careful not to abuse your privileges as a member of that account, though. If you do, you might not only hurt the people who added you to their account, but also, cause yourself similar harm.
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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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