Money Management

Summer vacation is a special time for any family, but it’s not a cheap one. Use these tips to turn your credit card rewards into a free vacation. 

From our earliest school days, U.S. children are taught to revere summer vacation. And as we age, join the workforce, and have our own children, that reverence lives on. All hail the summer vacation.

Unfortunately, there’s an important part of the summer vacation that we, as adults, need to face that our childhood selves never did: the cost. As venerable as the Summer Vacation may be, it’s definitely not cheap. The average vacation can range from $500 up to $3,000 or more.

That’s where your credit cards come into play. With the right cards — and a bit of finesse — you can turn everyday purchases into a summer vacation worthy of those capital letters.

The mighty sign-up bonus

The fastest way to turn credit card rewards into free travel is through sign-up bonuses. One or two big bonuses on some good travel rewards cards can easily turn into a few free flights and several nights at a decent hotel.

Make sure you know at least a little about your travel plans before choosing a new card. The best bonus in the world isn’t going to do you any good if it turns out you can’t fly that airline or stay with that hotel brand (I made that travel rewards mistake and learned the hard way). If you’re at all uncertain about your summer travel plans, stick with cards with transferable rewards that offer more flexibility.

Another thing to consider is that most sign-up bonuses have a spending requirement you need to meet — usually within 90 days of opening your account — in order to earn the bonus. The bigger the bonus being offered, the more you’ll need to spend to earn it.

So, you’re going to want to do a bit of strategizing. You need to not only pick the right cards, but you also need to open those cards at the right time to earn the bonuses. Ideally, you’ll already have some larger purchases planned out that can help you hit the spending requirements naturally.

Pro tip: Never spend more than you can repay just to earn a bonus. The interest fees from a carried balance can easily cancel out any rewards you may earn.

Research, redeem, repeat

Of course, the strategizing isn’t over once you’ve gotten your bonuses. With your digital wallets full of points and miles, the real work begins. Now it’s time to plan.

The thing that most folks (myself often included) gloss over when talking about free travel from rewards is that finding award space can be tough. And this is especially true if you’re trying to travel during peak season or to popular destinations.

You may need to fly out of a different airport, stay at a lesser-known hotel, or otherwise compromise to find award space during the busiest travel times. The more flexible you are, the easier it will be to book your trip.

Choosing the right destination can also make a big difference. Traveling to less popular summer destinations makes everything less expensive, and it can also make award space much easier to find. For instance, hitting a popular ski resort in the summer means off-season pricing and lots of availability. Just be sure to research ahead of time to see what will be open.

Versatile points can save the day

As we noted above, the best way to give yourself extra flexibility in booking your vacation with rewards is to choose your rewards currency wisely.

Co-branded hotel and airline credit cards tend to earn points or miles good for only the brand in question. While this can be useful if you know you’ll be flying that airline or staying at that hotel, it does limit your redemption options quite a bit.

If flexibility is important, stick with cards that have more versatility in how you can use your points. Travel cards with transferable rewards, for example, can usually be transferred to any of a dozen or more airline or hotel partners. And most transfers can be done instantly, or within a few hours, so you can find the exact redemption you want before committing your points.

Never transfer points until you’re ready to redeem them. Transfers aren’t reversible, so once you move your points, you’re stuck with the result.

Turning your credit card rewards into an actual vacation takes some planning. But when you’re enjoying your trip without worrying about being hit with big bills when you get back — well, that’s worth every minute you put into making it happen.

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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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A whopping 15% of couples get prenups, up from 3% in 2010. Find out why a prenup matters more than ever to divorcees. 

They divorced. He took millions of dollars worth of assets with him but left her with much less. If you’ve heard the story from someone involved, you’ve come face to face with the consequences of a prenuptial agreement (prenup).

A prenup is a pre-marriage agreement that proposes special rules for distributing wealth should a couple divorce. A prenup can specify who gets a business, who must pay for debt, who pays alimony, and so on. They can favor one party over the other.

But prenups aren’t inherently bad. In fact, they’re more popular than ever. According to CDC data, of those married, about 15% report signing up for a prenup, five times more than in 2010. More and more people seem to be opting for prenups. Why is that?

Forfeiting the prenup puts your post-marriage assets under the control of local laws. Here’s what happens when you don’t get a prenup before marriage.

State law determines who gets what post-divorce

There are two state types: community property states and equitable distribution states. These operate under different playbooks that determine who gets what in the event of a divorce.

In community property states, things are straightforward. Assets and debts are typically distributed half and half. These states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

In equitable distribution states, things are more nuanced. To divide assets fairly, a judge considers factors like marriage duration and individual financial circumstances. All non-community property states are equitable distribution states.

What counts as “fair distribution” varies. For example, state law might split an inheritance, parcel out pieces of a business, or hold both parties equally responsible for debt. One party may end up with more assets than the other.

Benefits of getting a prenup

A prenup allows you to control who gets what in a divorce. You can draw clear guidelines by determining who owns a business, who gets what savings, and who takes the property. You can protect yourselves from inheriting each others’ debts.

Divorce can be a long, drawn-out occasion. It took my parents months to complete the divorce. They spent tens of thousands of dollars on attorney fees, duking it out in court over everything from child custody to dusty old chinaware. A prenup can shorten divorce proceedings.

Divorce is expensive. The median cost of a divorce is $7,000, and attorneys get $100/hour on average. The shorter a divorce, the less you pay in attorney fees. A prenup may shrink costs, though it’s worth remembering that a prenup typically costs at least $500 in most states.

A good prenup can simplify divorce proceedings, shrinking costs and diffusing tensions before they can fire up. However, both parties should consider consulting their attorneys before signing to ensure a fair agreement.

It’s not too late after marriage

You can create a post-nupital agreement (postnup) after marriage. It serves the same purpose as a prenup: clarifying who gets what after marriage and simplifying divorce proceedings.

You can draw up an agreement by chatting with your partner and consulting an attorney. The more straightforward your arrangement, the more affordable this will be.

Prenups and postnups give couples control over their savings, property, and financial future. Plus, they can shrink the costs of divorce proceedings. To ensure fairness, consulting with an attorney before signing one is essential.

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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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The USPS has announced its plans to increase postage rates for the second time in 2023. Learn more about the new rates that are set to begin on July 9. 

It will soon cost more to mail domestic and international letters and postcards. The United States Postal Service (USPS) recently announced its plan to increase rates in July. This is the second postage rate increase in 2023. If you frequently send mail, this is news worth knowing, as it could impact your checking account balance.

Except to pay more for postage in July

As part of its 10-year plan, the USPS is raising postage rates to increase its cash flow. The last time consumers saw a postage rate hike was on Jan. 22, 2023. Beginning on July 9, 2023, several mail services are set to increase in price again. Price hikes range from $0.03 to $0.05, depending on the product.

Here’s a breakdown of the price changes you can expect later this summer:

The USPS announced these proposed changes on April 10, 2023. Now it’s up to the Postal Regulatory Commission (PRC) to determine if the proposed rates are approved. If the agency approves the rate hikes, the new, higher prices will go into effect on July 9, 2023.

How to lock in the current postage stamp rate

Here’s some good news: Consumers can lock in the current rate for 1 oz. letters by purchasing Forever Stamps before July 9. Once you buy these stamps, you can use them forever without having to worry when rate increases happen. Stocking up on Forever Stamps is an excellent way to lock in lower postage rates before a rate hike occurs.

How much do these stamps cost? Forever Stamps are sold at the same price as regular First-Class Mail stamps, so if you buy them in the coming weeks, you’ll only pay $0.63 per stamp instead of $0.66 per stamp. For those who mail letters often, the savings can add up.

Here’s another way to get a deal on postage stamps

There’s yet another way to get a discount on stamps before July. Warehouse club members can take advantage of discounts on Forever Stamps by purchasing stamps at their local club. Keep in mind the discounts are minimal — for every 100 stamps purchased at Costco or Sam’s Club, you’ll get a $0.25 discount.

That may not sound like a lot of money, but the savings could add up if you plan to buy a large quantity of stamps. If you’re going to pick up essentials soon, you may want to plan to buy some stamps, too, before the rate increases take effect.

Earn rewards on your spending

In today’s expensive world, everything costs more — groceries, gasoline, clothes, utilities, and even postage stamps. One thing you can do to combat higher prices is to use cash back credit cards to earn rewards when you shop.

Many retailers accept credit cards as a payment method, so don’t miss out on the chance to earn valuable rewards on the spending you already plan to do. Many credit cards also include useful perks. Check out our list of the best rewards credit cards to learn more.

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If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.

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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.Natasha Gabrielle 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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Costco has upped its game by opening a new type of store. Here, you can learn all about what the retail giant is up to. 

What happened

There are currently 585 Costco Wholesale locations in 46 U.S. States and Puerto Rico. There’s also another type of Costco store dotting the U.S., catering to those who want the opportunity to buy even greater quantities of the products they need. It’s called Costco Business Center, and the 26th store will soon open in St. Louis, Missouri.

Thirteen of the existing Business Center stores are located on the West Coast. While we can’t say for certain why that is, it may have something to do with Costco Wholesale Corporation being located in Washington State. Other states with a single Costco Business Center are: Arizona, Colorado, Florida, Georgia, Hawaii, Illinois, Minnesota, Nevada, New Jersey, and Utah. Texas is home to two Business Centers.

Costco Business Centers cater to small businesses, but are open to anyone with a Costco Wholesale membership. And here’s the big draw: Nearly 70% of the products carried in Costco Business Centers are unavailable in traditional Costco stores.

So what

Costco Business Centers are like “regular” Costco stores on steroids. While Costco is known for bulk items, Costco Business Centers offer an even larger selection of bulk items. Customers will find more bulk drinks, snacks, and commercial supplies. In short, it’s perfect for small business owners or very large households.

What customers won’t find in a Costco Business Center is clothing, books, sporting goods, alcohol, or a pharmacy. Most shocking of all, there are no nice people standing at the end of the aisles offering food samples.

They will find a massive walk-in refrigerator with both fresh and frozen groceries. Shoppers also have their pick of commercial appliances, restaurant supplies, disposables, and of course, office supplies.

Now what

Like a traditional Costco, Costco Business Centers feature savings events, with discounts automatically applied at the register. Unlike traditional Costco stores, shoppers don’t have from 10 a.m. to 8:30 p.m. to shop. Costco Business Centers are open Monday through Saturday: 7 a.m. to 6 p.m., and are closed on Sundays.

According to the St. Louis Business Journal, a sign at the construction site reads, “coming soon.” When contacted for clarification, a spokesperson for Costco told the Journal that the retailer does not discuss upcoming stores until they’re two or three months from opening.

There’s no reason for Costco customers to fret if a Costco Business Center has not made it to their town. Plans are underway for Costco to rehab other vacated buildings across the country, turning them into Costco Business Centers.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2024

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review

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.Dana George 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 I decided to sell my house without a real estate agent, I got professional pictures taken. Find out why this was the first step I took. 

A few weeks ago, I listed my home for sale on the market. Before I did anything else, like putting my house onto the Multiple Listing Service (MLS) or getting started on the process of getting approved by a mortgage lender to buy my next property, there was one key task I had to check off my to-do list first. Here’s what it was.

This was a crucial first step in selling my home

The very first step that I took was to hire a professional photographer. I paid the photographer to take pictures of my home, my yard, and my neighborhood. Because my house has a lake view, I also paid for a drone shot so buyers could see an aerial picture of where the house was relative to the lake.

The photographer took about 125 pictures that I was able to choose from when I put the house on the MLS.

Why it’s worth paying for professional pictures

My photographer charged me $250 for the pictures they took, which was a definite hit to my bank account. But it was absolutely worth spending the money in order to get pictures that make my house look its best.

Photographing a house can be hard because pictures can distort the rooms and make them look bigger or smaller than they actually are. And without the right lighting and a good grasp of the best angles, it’s difficult to really show off the key features of a property in pictures. Professional real estate photographers know the secrets of showing off a room so that potential buyers can get a true idea of what it will look like.

Paying extra for the pictures of the neighborhood was also important because my neighborhood has many amenities like a community pool and gates to restrict entry. I wanted potential home buyers to be able to see these different amenities and know they were buying into a good community.

Quality pays off in the long run

Making my house look its best online is an easy call in this day and age when everyone uses the internet to hunt for houses. When I’m looking for properties to buy myself, I can tell the difference in photo quality between places that have been photographed professionally and those listings where people may have cut corners and taken pictures themselves or hired a cheaper photographer without as much talent.

I want to be able to entice the largest pool of potential buyers to come look at my property so I can find the right person to offer a fair price for it. And I know if I didn’t have great photos, it would be a lot harder to do that, and I might miss out on a potential sale.

The MLS (which is the most widely used database of properties for sale) allowed me to put up 26 pictures without paying an extra charge, and my pictures were so good that I ended up paying extra so I could really show off my space. And this technique has been effective, as my house listing looks great and I had tons of potential buyers requesting showings soon after the listing went live.

Our picks for the best credit cards

Our experts vetted the most popular offers to land on the select picks that are worthy of a spot in your wallet. These best-in-class cards pack in rich perks, such as big sign-up bonuses, long 0% intro APR offers, and robust rewards. Get started today with our recommended credit cards.

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.

 Read More