Money Management

Do you frequently return items from Amazon? Some customers will now be charged a fee when they drop off returns at UPS. Find out what you need to know. 

What happened

Amazon will now charge some shoppers who make returns at UPS stores. Customers who have free drop-off locations nearby their delivery address will be charged a $1 fee if they make a return by dropping their package at UPS. While this change won’t impact all customers, it will affect some shoppers who usually drop off their returns at UPS stores.

So what

Amazon has previously advertised that it offers free returns for most items fulfilled by Amazon within 30 days of delivery for items delivered within the U.S. But the online retailer has a new policy that will impact some customers’ wallets.

Shoppers will be charged a $1 fee if they return their packages to a UPS store when they have a Whole Foods, Amazon Fresh grocery store, or Kohl’s in their area. This fee will not apply to customers who don’t have these retailers near their delivery address. While $1 may not sound like a lot, these fees can add up quickly if you make frequent returns. For others, the $1 charge may not be a big deal, especially for Amazon Prime members who capitalize on other perks.

As reported by CNN, an Amazon spokesperson noted that the fee will only apply to a small number of customers. The retailer will continue to offer free returns to customers who utilize free drop-off return methods. Amazon customers should be aware of this news because it could negatively impact their personal finances.

Now what

The good news is there are still several ways to return eligible Amazon products at no extra cost. However, if a free drop-off location isn’t convenient for you, paying the $1 fee may be worthwhile if you don’t want to waste money on gas or drive further to make a fee-free return.

At the time of writing, Amazon has yet to outline specific details about this return fee on its website, including whether certain purchases are excluded. Amazon shoppers who make frequent returns should keep updated on policy changes like this to avoid surprise charges.

You can drop off returns for free at Whole Foods, Amazon Fresh grocery stores, and Kohl’s locations. To start a return, log in to your Amazon account and choose an eligible time under “Your Orders.” Amazon will present you with all return options, including free drop-off options so you can choose a return method that works best for you.

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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. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.com. The Motley Fool has a disclosure policy.

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Faith-based investing involves choosing companies that align with your religion. Read on to learn how it’s done and some risks you should avoid. 

Faith-based investing involves buying shares in companies or funds that align closely with your religious values.

Like other value investing philosophies, faith-based investing involves screening out companies whose practices and products don’t align with your values, rather than including only those who practice your religion. For instance, Muslim investors may want to screen out food companies that sell pork products.

Value-based investing can be tough, as you can’t always know which companies align with your faith. Below, I’ll break down a few steps to help you get started.

1. Use an ETF or mutual fund screener

If you’re buying individual stocks, you have control over which companies you can exclude from your portfolio. The problem for many faith-based investors, however, is picking exchange-traded funds (ETFs) and mutual funds that also exclude those companies.

One solution is to use an ETF or mutual fund screener. One example is this ETF Database. Many of these screeners are advanced and can exclude ETFs whose holdings contain companies that conflict with your values. For example, on ETF Database’s webpage, you can find a Catholic Values ETF list and a Sharia Compliant ETF.

Just be careful — some faith-based ETFs or mutual funds will come with high expense ratios that can bog down your investment returns. Be sure you know how much you’re going to pay each year in fees before you invest.

2. Open a low-fee brokerage account

Once you screen out the right investments, you’ll need a brokerage account to buy shares.

If you’re investing in stocks and ETFs, look for a brokerage account that has low or no trading commissions. You might also want to find a broker that has no account minimums, which would require you to deposit a minimum amount before you could start investing.

No brokerage is completely faith-based, so you’ll have to choose a secular company. Fortunately, many of the best brokers will allow you to trade shares in faith-based funds and companies.

3. Be wary of unlicensed ‘faith-based’ advisors

It’s unfortunate, but many faith-based investors are vulnerable to manipulation. Often, in the interest of doing the right thing, faith-based investors will place their trust in financial advisors who use a smokescreen of faith to embezzle their money.

A recent example was the faith-based financial planning firm, Gallagher Financial Group. The firm was run by a Texas preacher operating under the false name, Doc Gallagher. Doc promised investors (mostly Christians) a 5% annual rate of return if they invested in his Diversified Growth & Income program. The program, however, was entirely false: Doc misappropriated $20 million from roughly 60 investors and was sentenced to 25 years in state prison.

It’s fine to invest with financial advisors who practice your faith, but be sure they are licensed to give advice. For instance, a Certified Financial Planner (CFP) is someone who has passed rigorous training and will have credentials that you can check on the CFP Board.

If someone calls themselves an “advisor,” but doesn’t have credentials to back up their training — or they have a license to sell securities but not to advise clients — be skeptical: take a closer look at their past before you decide to invest with them.

How to start faith-based investing

A faith-based approach to investing involves more strategy than chasing the next hottest growth stock. Even so, faith-based investors should still pay attention to a company’s business fundamentals, such as revenue growth, profitability, and its outlook on the future. Likewise, if you’re investing in ETFs or mutual funds, take a look at the fund’s historic performance, fees, and the company in its holding.

To get started from scratch, you’ll need to open a brokerage account. You have a lot of options, but you might want to select a broker based on how you intend to invest. For instance, if you’re choosing stocks, take a look at the best stock brokers. Similarly, if you want to invest in ETFs, look at the best ETF brokerages that rank high for these funds.

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We pored over the data and user reviews to find the select rare picks that landed a spot on our list of the best stock brokers. Some of these best-in-class picks pack in valuable perks, including $0 stock and ETF commissions. Get started and review our best stock brokers.

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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Supermarket costs are high, but you can still eke out savings on groceries. Here’s how. 

Inflation has been making consumers miserable for well over a year now. And while you might hear that cutting back on spending is the best way to cope with it, there are certain essential expenses you can’t really skimp on.

Food happens to be one of them.

Sure, you can keep your credit card bills to a minimum by cooking meals at home and avoiding eating in restaurants and takeout meals. But even so, the cost of groceries was up 10.2% on an annual basis in February, according to that month’s Consumer Price Index. So even if you’re willing to shop frugally for food, you might still end up paying a lot more to feed your household than you did a year ago.

But that doesn’t mean you can’t do anything to save money on food. Here’s how to keep your grocery bills down during these challenging times.

1. Be thoughtful about meal planning

Some people prefer to wing it when it comes to cooking dinner. But if you’re trying to minimize your food-related spending, plan your meals out in advance. That should allow you to take advantage of supermarket sales, and also, avoid buying items you don’t end up needing or using up before they expire.

2. Buy the right items in bulk

Buying in bulk could save you money under the right circumstances. But to be clear, for this strategy to work, you need to stick to tried and true items that are commonly consumed in your household. And also, you should limit bulk buying to food items you’re confident you’ll use up before they go bad.

If you have young kids who like to gulp down yogurt smoothies every day, by all means, buy a bulk pack. But be careful about buying certain meats or cheeses in bulk if you’re not sure they’ll get used up prior to spoiling.

Also, when buying in bulk, make sure you have enough storage to house the items you’re buying. If you cram too much food into your fridge, you might limit its ability to cool your groceries, thereby leading to a situation where your food doesn’t last as long as expected. The result? Wasted money.

3. Look to discount grocery stores

If you have a discount grocery store like Aldi in your neighborhood, buying items there could result in a nice amount of savings. But generally, stores like Aldi won’t have everything you need, so in many cases, it’ll mean making an extra trip.

If you have a lighter work schedule, that may not be a problem. But if you don’t have the time to shop at multiple supermarkets each week, then you may need to skip the Aldi run.

These days, many people are racking up debt and raiding their savings accounts just to do simple things like feed their families. It’s a frustrating situation, to say the least. But if you employ these tips, you may find that you’re able to reduce the amount of money you’re spending on food, making it easier to cope with this period of persistent inflation.

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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.

 Read More