Money Management

The average person spent $245.76 celebrating their mom last year. Find out how to give Mom the perfect Mother’s Day brunch and keep costs low. 

Brunch is a fun way to spend Mother’s Day, but anyone who’s grabbed morning mimosas with Mom knows that costs can bubble over faster than a fizzy cup of cola. According to NRF data, the average person spent $245.76 celebrating their mom last year. Not cheap.

I’ve been brunching with my mom for years. It’s kind of our thing. Once we figured out the Mother’s Day formula, planning and paying for it became easy. It just works. Now, whipping together a fun three- or four-hour excursion on a $100 budget is simple.

Looking for a quick and easy guide to celebrating mom? Here’s how to plan the perfect Mother’s Day brunch without overspending, broken down into four simple steps:

Start earlyPick an affordable spotCheck-in with Mom, guests, and the restaurantRelax and set a mood

Whether planning for two people or 10, the deviled egg is in the details. The more people at the brunch, the more time you’ll want to spend communicating with Mom and guests.

Let’s dive in.

Start early, like right now

Start planning one, two, four weeks in advance. Your reservation will flop, the weather will turn, or a guest will claim spontaneous gluten allergies. Things happen. Give yourself the time to check with the restaurant, Mom, Yelp, and any guests.

Mother’s Day is one of the busiest holidays of the year. More than half of celebrants plan on celebrating with a special outing. Restaurants will be booked. Don’t put it off until the last minute. The bigger your group, the sooner you want to book reservations.

Pick an affordable spot

When picking the perfect Mother’s Day spot, consider great views. My mom likes a beach view, so we typically reserve a place near the sand. Alternatives include parks, mountains, or sunrises (some Moms will happily get up bright and early to view the breaking dawn).

Consider throwing a picnic or hosting brunch at home to keep costs low. Do grocery shopping with a sound grocery credit card the day before. Or have everyone bring their favorite dish to the brunch, potluck-style. Keep the party small, so there’s less pressure to spend big.

Easy tip: Want help figuring out where to book? Consider texting/calling Mom’s partner. They probably know where Mom would love to spend her morning with you.

Communicate with attendees

Now that you’ve got a spot in mind, double-check the time and location with Mom. Seriously. She’s your road map, guide, and No. 1 resource on what she likes to eat. You don’t need to please all the guests, but ideally, Mom will be on board.

Communicate with any guests. Ask for allergies and dates. Text them a week in advance as a reminder. Let guests know whether you’re footing the bill. My housemate turned a $200 bill into $2,000 because she forgot to let guests know they were paying for their meals!

Communicate with the restaurant, if applicable. Make a reservation. Pull up the menu on Yelp or Google. How much do things cost? Alcohol makes everything more expensive. Are there gluten-free options? Even if it’s just you and Mom, it’s worth skimming dietary choices.

Are you renting a bike, a scooter, or some form of transportation? Consider calling ahead to reserve those, too. Borrow bikes from a friend to keep things budget-friendly.

Relax and set the mood

Make Mother’s Day memorable by setting a vibe. Ask Mom for her Spotify playlist, and play it while driving/biking/walking to brunch. Take your time. Because you’ve planned ahead, you’re in no rush. You know precisely when and where you’re going to be.

Relax, and Mom will relax, too. It’s her day, an island of calm in a busy work week, and she probably wants to chill out. Take a scenic route, chat about whatever, and dress comfortably. Pick up ice cream, spend a minute people-watching, and scare the birds.

The perfect Mother’s Day brunch is one you share. Start early, communicate, reserve what you can, and set the mood to turn what could be a stressful day into a lighthearted outing for you and Mom.

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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. Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.

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Being loyal to your credit card company rarely makes sense. Read on to learn why you’re better off shopping around for a new card regularly. 

For many Americans, signing up for a credit card is something they do once or twice and never think about again. In fact, most people keep their card for years without ever considering whether it’s the right one for them.

The big question is, does being loyal to your credit card company actually make sense for you?

Loyalty to your credit card company may be the wrong move

When it comes to your credit card, sticking with the same card issuer for years may actually not be the best financial move. And there are a few reasons why that’s the case:

You don’t usually get any extra benefits for sticking with the same card company for years. Card issuers generally won’t lower your interest rate if you have the card for longer or offer any other financial benefits for staying a customer. A small number of cards offer things like travel credits each year you stay with the company, but the cards that do this typically charge higher annual fees.Your spending habits may change over time. Usually, credit card companies offer extra bonus rewards for certain kinds of transactions. For example, you might get 5% cash back only on restaurant spending while getting less valuable rewards for other purchases you make. If your spending habits change over time, as many people’s do, your old card may offer bonus rewards for something you no longer buy a lot of.You’ll miss out on new cardmember benefits and offers. New cards come on the market periodically that may offer different benefits than those that were available at the time you signed up for your card. Card issuers also often provide bonus rewards to new customers who meet spending requirements. You’d miss out on these benefits if you just stick with your same card forever.

These are huge downsides of just sticking with the status quo when it comes to which credit card you use.

Here’s what you should do instead

Rather than being loyal to your card company, it’s worth doing an annual review of which credit cards are in your wallet and making sure they are still paying off for you. You can also check what new rewards card offers are out there to see if there could be an exciting new card that offers benefits that are a better fit for your spending needs.

You don’t necessarily want to close down your old cards if you switch. Doing so could result in your credit score dropping as you close an old account with lots of history and you reduce the amount of credit available to you. But, unless your old cards have a high annual fee, you could just keep them open even if you don’t use them much.

You also don’t want to apply for new cards too often as too many inquiries on your credit report could hurt your score. But, if you open a new card every couple of years, this shouldn’t do any lasting damage to your score and can allow you to always ensure you’re using a credit card that’s a good fit for your current situation.

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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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Are you still searching for the perfect Mother’s Day gift for your mom? Target has some affordable finds. Here are a few great gift items that cost under $25. 

Mother’s Day is on May 14 this year, and it’s not too late to find a great gift. If you’re on a tight budget this spring, that’s okay. You don’t have to neglect your personal finance goals to show your mom how much she means to you. Target has some fantastic Mother’s Day finds that are a win for your wallet and sure to make your mom feel appreciated. We’ve outlined a few Mother’s Day gifts that you can buy at Target for under $25.

1. Cold brew coffee maker

This gift is ideal for all the caffeine-fueled moms out there. You can score the well-rated Primula Pace Cold Brew Coffee Maker for less than $20. It’s dishwasher-safe for easy cleanup and can be used to make iced tea and coffee beverages from home. With this present, your mother will be well prepared for the hot summer days ahead.

2. Pajama set

There’s no such thing as having too many pajamas or comfy hangout clothes. Target sells affordable pajama sets that are both cozy and cute. You can pick up the Stars Above Women’s Beautifully Soft Long Sleeve Notch Collar Top and Shorts Pajama Set for $24.99.

3. Reusable notebook

Is your mom a regular notetaker who is looking to be more eco-friendly? A reusable notebook will make for the perfect gift. Target sells a variety of Rocketbook reusable notebooks and notebook sets. For example, there are several color options available for Rocketbook’s Fusion Smart Reusable Notebook 6″ x 8.8″ Executive Size Eco-Friendly Notebook for under $25.

4. Beach bag

Target sells a variety of budget-friendly beach bags. The Shade & Shore Mesh Tote Handbag is available in multiple colors and patterns and only costs $10. At this price point, you can fill it with some must-have beach and pool essentials for a complete gift. Whether your mom likes to spend time at the beach or pool, she’ll be prepared for outdoor fun.

5. Cookbook

If your mom is a fan of cooking, why not get her a new cookbook to add to her collection? You can pick up the Half Baked Harvest Cookbook by Tieghan Gerard for under $20 at Target. If you want to go all out, you can also prepare a dish from the cookbook to serve for lunch.

6. Water bottle

It can be difficult to drink enough water when life gets busy. You can buy your mom a 64 oz. Takeya Tritan Motivational Water Bottle with Straw Lid for under $24.99. Some styles are on sale for $19.99. It not only looks nice, but it’s also BPA-free and dishwasher-safe. The hourly markings and motivational notes will help your mom stay hydrated.

7. Box of chocolates

If your mom has a sweet tooth, you can’t go wrong with chocolate. While you’ll find plenty of tasty treats at Target, you can buy a box of Godiva Assorted Cake Truffles for just over $10.

If you want, you can pair the truffles with a bottle of wine for the ultimate treat. This simple but delicious gift is generous and it won’t leave your checking account feeling empty.

It’s the thought that counts

Before you start stressing out about what to get your mother this Mother’s Day, take a moment to remind yourself that it’s the thought that counts, not the dollar amount spent. It’s never a good idea to go into credit card debt to buy an expensive present. The gift ideas above will surely be appreciated and won’t leave you feeling broke!

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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 Target. The Motley Fool has a disclosure policy.

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Setting up autopay for your credit cards means you’ll never miss a payment. Learn why it’s important to consider the pros and cons of this approach. 

When you have a credit card, it’s crucial to make your payments on time in order to avoid late fees or damage to your credit score. Setting up autopay is one way to make sure you do that.

But, before you set up automatic payments and arrange to have money taken directly out of your checking account to pay your card bill, it’s worth asking yourself a few key questions to make sure this move is right for you.

Will you set up autopay for the full balance or the minimum?

When you set up autopay, you have a choice to make. You can arrange for an automatic payment to come out that pays off your statement balance in full. Or, you can arrange to make an automatic payment that pays the minimum amount due on your card or that pays a set amount of your choosing.

If you choose to set up automatic payments for only the minimum balance, you should be aware you will have to pay interest due on any amount you don’t pay off by the due date. This interest can be very expensive. The minimum payment will also do very little to actually reduce your principal balance, since so much of the payment will go to interest. You could get stuck in debt for many years if you’re only paying the minimum amounts owed.

While you can go in and pay more than the minimums, one of the benefits of autopay is to avoid the hassle of having to pay your card manually. Plus, you may forget or simply opt to spend your money on other things once you feel as if you’ve taken care of your obligations by paying the minimum.

If you set up autopay to cover the full amount due or to pay some other set amount that’s higher than your minimums, then you’ll definitely be better off.

How will autopay affect your ability to keep tabs on your credit card spending?

When you have to manually go pay your credit card, you’ll be forced to pay attention to what your balance is. And, when you’re signing into your account to review how much is due, you’ll be able to see what you spent money on.

If you have automatic payments come out of your checking account, you aren’t really forced to confront your spending. It can feel like you aren’t really spending money at all with this approach, which could make you less responsible with your finances.

Is there a danger of overdrafting your checking account?

There’s a big risk of setting up autopay if you don’t have a lot of money in your checking account. You could overdraft your account if the payment takes more money out of your account than you have in it. Overdrafting typically comes with hefty fees.

Consider whether this is a risk when setting up automatic payments. If it is, you may want to pay your card manually after making sure you have the money to do so.

Are you at risk of forgetting to make a manual payment?

Finally, there’s also a risk of making a manual payment. If you forget, you could get hit with late fees and other penalties and damage your credit. And you don’t want that to happen either.

By considering these four issues, you can decide if setting up autopay is something you should move ahead with or if manually paying your card is a better bet.

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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.The Motley Fool has a disclosure policy.

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