Money Management

Need an awesome graduation gift? Read on to see what you can find on Amazon. 

The amount of money you spend on a college graduation gift might pale in comparison to the amount you spent to actually put your child through college. But if money is tight and you’re trying not to hit your savings account too hard, then you may be struggling to come up with the perfect college graduation gift.

The good news is that Amazon carries a host of products that make great gifts for grads, and the online retail giant caters to a range of budgets. Here are some terrific picks to consider.

1. Luggage

Many college graduates like to take a big trip before starting their first full-time job. That makes luggage a great gift. Right now, Amazon is selling this Travelpro suitcase for $144.49. It features eight wheels for optimal maneuverability and a hard shell to absorb plenty of bumps and bangs. It’s also large enough to fit a nice amount of stuff but just small enough to fit into most overhead bins on an airplane.

2. An electric throw blanket

Throw blankets make a great gift for pretty much any occasion. And if you know a recent graduate who’s moving into their own apartment for the first time, they might need a whole bunch of items to complete their new home. If you’re not looking to spend a fortune in the course of giving a gift, consider this heated throw blanket for just $41.99. It has 10 different settings and is available in a variety of colors.

3. A new Chromebook

Many students graduate college with nothing more than a beater laptop. As such, a new Chromebook would make a great gift. Amazon is selling this HP Flagship Chromebook for $329. It comes with a 15.6-inch screen, an 8-GB hard drive, and is webcam- and Bluetooth-compatible. It’s the sort of device you can do just about anything on, from working to watching content to attending Zoom meetings.

4. Apple AirPods

AirPods make a great gift for college grads who like being able to chat or listen to music on the go. Amazon has this pair of Apple AirPods available for $99. They offer more than five hours of listening time on a single charge, and they’re lightweight and comfortable.

5. A Crockpot to take on the go

For many new college graduations, buying lunch during the workday can be a huge budget-buster. That’s why this portable Crockpot makes a great gift. It’s lightweight but can store up to 20 ounces of food. That way, your favorite grad can enjoy a hot lunch at their desk instead of a boring old sandwich. And at a $32.99 price point, it won’t cause you to run up an uncomfortably large credit card tab, either.

Whether you’re buying a college graduation gift for your own child, a family member, or a family friend, it’s important to only spend an amount you’re comfortable parting with. Thankfully, Amazon really has many options, so if the above items don’t quite work for you, spend some time browsing the site to see what else you can come up with. And if you’re really at a loss, remember that you can never really go wrong with an Amazon gift card.

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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 and Apple. The Motley Fool has positions in and recommends Amazon.com and Apple. The Motley Fool has a disclosure policy.

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Is your grocery bill getting too expensive? Here’s how a produce subscription can help defray the cost of fruit and vegetables. 

No matter what part of the country you live in, you’re likely paying much more for groceries now than in years past. Food costs, including fresh produce, have increased significantly. Even those who follow a budget and take advantage of deals feel the impact on their wallets.

If you want to spend less on groceries, you might consider using a produce subscription service instead of shopping for fruits and vegetables at the grocery store. These services may help you keep more money in your checking account and could add convenience to your hectic life. We’ve outlined a few services below so you can make a more informed decision.

1. Imperfect Foods

Imperfect Foods sells produce and food that would otherwise go to waste. Currently, the company delivers to many parts of the United States, including the West South Central region, Midwest, Northeast, and along the West Coast.

For regular boxes, prices range from $11 to $30.50 per box. For organic boxes, prices range from $15 to $46.50 per box. All fruit and vegetable boxes cost $11 to $18.50. All boxes are customizable, and you can add additional products for an extra fee. A $5.99 delivery fee applies to orders under $60. Orders of $60+ deliver for free.

2. Misfits Market

Misfits Market works directly with farmers to rescue organic produce that would otherwise go to waste. By investing in a subscription, you can get high-quality food, help eliminate waste, and save money. You can order fruit, vegetables, meat, seafood, and pantry staples.

When you subscribe to the weekly grocery plan, Misfits Market will curate your cart with grocery items each week. You can add or remove items before the weekly shopping window ends. Order minimums may vary by area, but you should expect to meet a minimum of at least $35 for your order to ship. Shipping varies by ZIP code and starts at $6.99.

3. The FruitGuys

The FruitGuys is a family-owned company that started by delivering fruit and healthy snacks to businesses. The company now sells fruit, vegetable, and snack boxes to offices and homes nationwide. Each year, The FruitGuys donates at least 20% of its annual profits to fight hunger and support sustainable farming. Boxes begin at $39 for a small box that includes 16 servings of fruit. Free shipping is available to most locations.

4. Hungry Harvest

Hungry Harvest helps eliminate food waste by rescuing fresh produce that would go to waste, selling it at a discount, and delivering it directly to consumers. Prices start at $15 to $42 per box depending on selection, size, and whether you prefer organic products.

Orders of $29.99 or more have no delivery fee. Otherwise, a $4.99 per-order delivery fee applies. Hungry Harvest delivers to addresses in Maryland, Southern New Jersey, Northern Delaware, North Carolina, Washington D.C., and Greater Philadelphia. The company has plans to expand its offerings to other parts of the United States in the future.

Track your spending to see if you can save money

Reducing your food spending can help you improve your personal finances. If you’re unsure whether a produce subscription service will save you money, you’ll want to figure out how much you spend on produce at the grocery store. Tracking your spending and comparing the prices you’re paying at the store versus using a subscription service can help you decide.

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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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If there had been more regulatory oversight of small- and mid-sized banks, the recent collapses may not have happened. Find out why. 

Bank runs are scary. They happen when lots of people lose confidence in a bank and try to withdraw their money all at once. They were more common in the Great Depression of the 1930s, which saw thousands of banks collapse and wiped out millions of Americans’ savings. The banking regulations that were introduced back then to restore confidence set the framework for many of the rules and protections that exist today.

Unfortunately, no regulation is perfect — in part because it’s hard to regulate against unexpected events as they are, by definition, unpredictable. Added to which, strict regulations tend to get passed after a crisis and then relaxed when times are better.

If we look at the collapse of Silicon Valley Bank (SVB), which triggered the current crisis, both factors played a role.

The unexpected: Ultimately, a combination of events caused SVB’s failure. But a simplified version hinges on risk management and the changing value of bonds. SVB held large quantities of long-term bonds, which dropped in value as interest rates rose. When customers got nervous, SVB couldn’t sell enough bonds without taking massive losses. Nervousness became panic, and panic triggered a bank run.Relaxed regulation: There are a few parts of the Dodd-Frank Act, passed after the 2008 crisis and relaxed a decade later, that might have made a difference today. It’s hard to know if they’d have outright prevented the SVB collapse, but they’d certainly have minimized some of the damage and raised red flags earlier.

Moving the goalposts

Banking regulations are often complex and multi-layered, but the drive behind them is simple: to protect the economy and consumers. As such, there’s some logic to the argument that smaller banks pose less risk to the financial system and therefore require less stringent regulation.

If a massive bank that holds assets over a certain threshold fails, it could do significant damage, so it follows that they have to follow tighter rules. However, what we saw with SVB is that even medium-sized banks can threaten the economy. Moreover, consumers could lose their savings if they collapse. Therefore, if one single banking regulation could have prevented these failures, it is this: a lower threshold for stronger supervision.

A lower threshold means the Federal Reserve would be able to apply stress tests, liquidity reviews, and increase its oversight of small- and medium-sized banks, just as it does for the big players. Indeed, When Dodd-Frank was first passed, the threshold for closer Fed scrutiny was $50 billion. This threshold was increased in 2018, so it didn’t apply to SVB.

Had it still existed, SVB would have had to:

Undergo annual stress tests: Stress tests essentially explore how banks would perform in various scenarios such as recession or other market shocks. There’s a requirement that banks have to have enough liquid assets on hand to cover extreme conditions. In plain language, they need enough capital to cover unexpected losses.Create a “living will”: Also known as a resolution plan, this sets out how the bank might manage its failure in a way that doesn’t damage the wider financial system.

There’s some debate about whether SVB’s implosion could have been prevented by implementing existing regulations and following up on certain red flags more promptly. That’s understandable. But the failure of three major banks so far this year highlights that the current system is not working. Without getting too far into the weeds, increased regulation and improved implementation are both necessary.

What to do if you’re worried about your money

The White House is already talking about changing banking regulations in the wake of the recent bank failures. However, changing regulations can be a slow process. Plus, it’s too soon to say whether the banking crisis is over. The hope is that JPMorgan’s acquisition of First Republic will be an end to it, but many on Wall Street are not convinced.

If you’re worried about the cash in your bank account, the most important thing to know is that customers have not yet lost any deposits. FDIC insurance covers deposits of $250,000 per customer, per bank, per account ownership category. SVB and Signature both had large sums of uninsured deposits, but authorities still made them whole to try to prevent further panic.

Even so, if you have a lot of money in your savings and checking accounts combined, it’s a good idea to learn more about FDIC insurance and its limits. If you have more than $250,000 in deposits, here are just two of the ways you can increase your protection:

Open a new bank account: FDIC insurance applies $250,000 per depositor, per insured bank, for each account ownership category. As such, moving funds to a new account with an FDIC-insured bank would give you another $250,000 of coverage.Open a joint account: There are two ways a joint account can change your insurance limit. Firstly, each person on the joint account is covered for up to $250,000. Secondly, this is a different ownership category, so if you have $250,000 in your name and another $250,000 in a joint account, both sums will be covered.

Bottom line

There’s a good chance the recent banking failures will lead to increased regulation, including changes to consumer protection and additional oversight for small- and medium-sized banks. In the meantime, make sure your money is deposited with an FDIC-insured bank and try not to panic. There are lots of protections in place to make sure Americans do not lose their savings, and so far, they have done their job.

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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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Unpaid debt can lead to a property lien. Keep reading to learn how liens happen and what you can do about a lien on your home. 

A lien is a legal tool used by those you owe money to and ensures you’ll repay them — sooner or later. Here, we look at how liens work, who can place a lien on your property, and what you can do if a lien is placed.

What is a lien?

A lien is a legal claim against your property, and amounts to a guarantee that you can’t sell it without repaying the outstanding debt. Interestingly, liens can be placed against other possessions too. For example, a creditor might put a lien on a vehicle or furniture you’re still paying for. However, here we’ll focus on liens placed on homes.

Putting a lien on your property is not a matter of simply claiming you owe them money. Creditors are required to go through court, and a judge must approve the lien.

Let’s say you’re in dispute with a contractor who remodeled your home, and you still owe $5,000 for the job. It’s been months, and you still don’t believe you should pay. If the contractor takes the case to court and a judge signs a record of a lien, the only way to remove it is to pay the contractor $5,000.

How long will the lien last?

A lien remains in effect for seven years even if a creditor does not force a sale. It may be impossible to sell the property during that time because the buyer will want the judgment paid in full before agreeing to buy.

You may not be off the hook when the seven years run out. A creditor has the right to renew it twice, meaning a lien can last up to 21 years.

If a lien is successfully placed on your home and you don’t work out arrangements to pay the past debt, creditors can sell your home and collect the debt. However, it’s exceptionally uncommon for a creditor to go to the trouble of selling your home due to the associated costs. Simply put, it costs them more money and hassle than it’s worth.

Who can place a lien?

Only select parties can place a lien on your home. For example, if you’re on vacation with friends and forget to pay a buddy back for your hotel room, that person cannot place a lien.

According to Legal Shield, these six parties can place a lien.

1. Internal Revenue Service (IRS)

Failure to pay back taxes gives the IRS a right to put a lien on everything you own, including your home.

2. Local government

The government can place a lien if you don’t pay property taxes. Further, if you ignore your tax bill, the government can sell your home to get its money.

One thing that could happen (but don’t count on this) is that your mortgage lender protects its investment by paying the taxes and adding that amount to your total mortgage debt.

3. Contractors

Remember that contractor we mentioned? Failure to pay means a contractor can file a mechanic’s lien. Most states require the contractor to file the lien within six months of non-payment and to sue to enforce the lien within 12 months. While state laws vary, It’s important to know that failure to pay a contractor can lead to a massive headache.

4. Attorneys

A lawyer can place a lien on your home if you have any outstanding legal fees. Most — but not all — attorney contracts include this stipulation.

5. Former spouse or partner

If you owe substantial child support or alimony, be aware that your ex can place a lien on your property.

6. Creditors

While it’s not as common, holders of unsecured debt, like medical bills, personal loans, and credit cards, can sue and get a financial judgment against you for unpaid debt. Once they have that judgment, they can return to the court and request a lien.

Removing a lien

Liens on your property can be removed in several ways, including:

Pay the lien holder backNegotiate a payment plan or partial payment in exchange for a lien releaseIf the lien is invalid, go to court and ask for it to be removed.

Naturally, your best bet is to avoid a lien in the first place. However, keep working on a solution if a lien is ever placed on your property. There are ways to get out from under it.

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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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