Money Management

Don’t miss out on these free Amazon Prime benefits! 

Amazon Prime is a great way to save money on shipping costs, enjoy popular movies and shows, get exclusive deals, and otherwise stick to your budget. But with so many features, it can be hard to keep track of everything that’s available. Here are seven perks of Amazon Prime that you might not be taking advantage of.

1. Rx Savings

With Rx Savings from Amazon Prime, members get access to discounted prices on prescription drugs at over 60,000 participating pharmacies including Walgreens, CVS, and Amazon Pharmacy. This includes savings on brand name and generic medications — all without any hidden costs or additional fees.

2. Amazon Music

Amazon Music gives you unlimited access to over 100 million songs, including thousands of playlists and different radio stations. Whether you’re looking for current hits, classic rock, or something more obscure, Amazon Music has it all. Plus, with Prime Music, you can listen to ad-free podcasts as well as download songs and albums for offline listening!

3. Prime Reading

Do you love reading? With Prime Reading, you get access to over a thousand books including bestsellers and new releases — all at no additional cost. It’s included with your Amazon Prime membership. You get unlimited access to a rotating catalog of ebooks and audiobooks, one free pre-release ebook every month from editors’ picks, as well as all the magazines and comic books you can read!

4. Prime Gaming

If you’re an avid gamer, then Prime Gaming is for you! Amazon Prime members qualify for free games and in-game loot every month. You get to keep the games forever, even if you are no longer a Prime member. You also get a free subscription of Twitch.tv, a popular live streaming gaming and entertainment service.

5. Amazon Photos

Prime members get unlimited full-resolution photo storage and 5 GB for video. The Amazon Photos app allows users to back up their photos from their device directly into their account with just one click. The app also helps users find photos quickly by automatically tagging them based on what appears in the photo (e.g., people’s faces). This way they can easily organize their photos into albums and share them with friends and family. Plus all your photos are stored securely in the cloud, so they won’t be lost if something happens to your device!

6. Prime Try Before You Buy

As part of the Try Before You Buy program from Amazon Prime, members can try out six outfits before purchasing them — for free! You get to select from great brands in clothing, shoes, jewelry, and accessories. You have seven days for the try-on period and are only charged for what you keep. For the items you don’t want, you can choose how you want to return them.

7. One year of free Grubhub+

Are you always ordering takeout? With Grubhub+ via Amazon Prime, members get one year of free delivery when they order food through Grubhub. You can enjoy unlimited $0 delivery fees on eligible orders from your favorite restaurants, exclusive savings, and donation matching. The normal cost is $9.99 per month, so you get a savings of $120 on the membership fee!

There are so many amazing benefits included in an Amazon Prime membership that you may not be taking advantage of! From streaming music services to discounts on medication costs — not to mention exclusive gaming content — there truly is something for everyone when it comes to Prime benefits. So if you are looking for ways to save some money while still enjoying all the latest products available, then signing up for an Amazon Prime account is worth considering today.

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

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It’s an option worth considering. 

There’s a reason U.S. personal loan balances reached a whopping $222 billion as of the fourth quarter of 2022, according to TransUnion. Personal loans can be an extremely convenient, cost-effective means of borrowing money when you need to.

When you take out a mortgage, for example, you can only use that loan to finance the purchase of a home. With a personal loan, you can use your loan proceeds for anything, whether it’s to renovate your kitchen, fix up an ailing car, or cover a series of medical bills you were recently hit with.

A personal loan could also be a great way to consolidate existing debt. And so if you’re juggling multiple loans or credit card balances, it pays to consider one.

Make your life easier

Perhaps you’re carrying three different balances on three different credit cards, each with its own monthly due date. That’s not an easy situation to manage. You might end up forgetting to make a payment one month, thereby damaging your credit score in the process.

The upside of taking out a personal loan and using it to consolidate existing debt is that you’ll go from juggling multiple monthly payments to only having to make one. That lowers your chance of losing track of your payments and damaging your credit score in the process.

Make your debt less expensive

Another benefit of consolidating your existing debt into a personal loan? You might make it less costly to repay over time.

Let’s say you owe $10,000 across three different credit cards charging you 16% to 20% interest. If you have good credit, you might manage to qualify for a $10,000 personal loan at 7% interest. That’s a much lower interest rate than what you’re paying at present. Because of that, you’ll spend less money in the course of repaying your debt.

Another thing to keep in mind is that credit card interest can be variable, so the rate you’re paying on a balance today might rise over time. With a personal loan, you get to lock in a fixed interest rate on your loan. If that rate is 7%, you won’t have to pay 8% or 9% down the line — that 7% will remain in effect until your balance is whittled down to $0. That eliminates a lot of stress and makes your payments easier to fit into your budget.

Should you take out a personal loan to consolidate debt?

You don’t necessarily want to take out a personal loan to pay for a vacation or upgrade your electronics. Those are things you should save for ahead of time instead.

But if you already have outstanding debts you’re having a difficult time managing, then it could pay to apply for a personal loan and use it as a means of consolidation. This especially holds true if your credit score is in good shape, because the higher that number, the more likely you’ll be to snag a competitive interest rate on a personal loan.

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.

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Stress can lead us to make emotional decisions. 

Whether you’re there when it happens or not, damage to your home can be traumatic. After all, this is the place where you’re building a life, where you sleep at night. But the thing about trauma is that it can lead you to make rash decisions, and that’s what we’re hoping to prevent. Whether your home is damaged by fire, flood, tornado, earthquake, or some other peril, here are 10 things you should never do in the aftermath.

1. Don’t go it alone

There’s a reason you pay for a homeowners insurance policy. As soon as an incident occurs, contact your insurance company. They’re accustomed to dealing with this sort of thing and are a great source of advice regarding the immediate future.

2. Don’t get tied up in the future

Try to focus on your immediate concerns rather than worry about what’s going to happen next week or next month. Looking too far down the road will only make you more anxious. All you need to decide now is your next move.

3. Don’t ignore your insurer’s instructions

Let’s say a storm comes through and damages your roof. Rain pours through a hole in your roof and into your living room. If your insurer asks you to attach a tarp to the ceiling to catch some of the water before leaving the home, do your best to comply. As mentioned, your insurance company has been down this road and knows the best ways to prevent the damage from getting any worse.

4. Don’t forget to schedule a follow-up call

Over the next few days, you’re going to come up with a list of questions you were too preoccupied to ask the day of the incident. Write them down as they occur to you. For example, you may wonder about coming back to the house to pick up things you need or when you can expect work to begin on your home. By scheduling a follow-up call with your insurer, you have a set time scheduled to ask whatever you want.

Of course, a good insurance agent is going to be available, both by reaching out to you and by being available whenever you need them. However, insurance agents have different ways of doing business, and their method of communication may not be what works best for you.

5. Don’t rely on your memory alone

Stress does a number on our memories. Make it easy on yourself by writing down any and all information provided by your insurance company. If you’re concerned about missing any of the details, ask them to send you an email outlining what you need to know.

6. Don’t remove anything from the property

Whether your home is damaged by a storm or a fire, it may be tempting to empty the house of valuables. Do not do that without speaking with your agent.

The insurance company will assign a claims adjuster to walk through the site, and the adjuster needs to see everything that was there at the time of the incident. As they walk through, the adjuster will take pictures and make notes to document your possessions.

Let’s say you want to take your jewelry, eyeglasses, passport, birth certificate, photographs, and other important items. Give your agent the heads-up. Then, carefully document the entire removal.

You can document removal by taking photos — lots and lots of photos. Better yet, record a video too. The idea is to have plenty of evidence that you can later share with the adjuster. The adjuster will need that evidence to complete a Schedule of Loss form.

7. Don’t clean up

There are several reasons that you should not take on the job of cleaning up:

It’s possible that you’ll remove or throw away personal items that the adjuster needs a record of.The insurance company will pay for cleanup and debris removal. Let them take care of the dirty (and possibly dangerous) job.Whether it’s smoke damage or mold forming on the surface of your walls, it can be hazardous to your health. Let the pros handle it.

8. Don’t lose receipts

If your home is uninhabitable, your insurance company may pay for additional living expenses. This includes hotel stays, renting another home, and even ordering takeout while you live without a kitchen. You may also need to replace clothing and other personal items.

Whatever you buy, keep receipts to prove the expense. Whenever possible, electronic receipts are the easiest to keep track of, but a good, old-fashioned folder filled with paper receipts will also work.

9. Don’t lose your cool

Once the shock of the event wears off, you may be anxious to get back to life as usual. However, your homeowners insurance company has its own way of doing things. No matter how frustrated you become with a contractor or how slow you feel the process is, share your concerns with your insurance agent and allow the company to do its thing.

Getting emotionally worked up will only add to the stress of your situation. Trust that the process works, even if it takes time.

10. Don’t risk it without the coverage you need

A standard homeowners policy does not include flood or earthquake coverage. The best time to buy those coverages is today, before anything happens. If the premium is too steep, find out about discounts available to homeowners or raise your deductible enough to lower the premium.

It can be challenging when the place where you feel the most safe is damaged. The one thing that would make it worse would be the lack of homeowners insurance to make things right.

Our picks for best homeowners insurance companies

There are many homeowners insurance companies to choose from. We’ve researched dozens of options and short-listed our favorites here. Looking for a green build discount or easy bundle policies? Want an easy-to-use interface? Read our free expert review and get a quote today.

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 quick answer? Nothing bad. 

Your credit report contains a host of valuable information about your borrowing history and habits. It shows you how timely you are with paying bills, what your credit mix looks like, and how much of your total available revolving credit you’re using at once.

It’s a good idea to check your credit report every few months. Doing so could help you keep tabs on your open accounts and identify patterns that may be hurting your credit score, such as late payments or a high rate of usage across your credit cards.

Just as importantly, by checking your credit report regularly, you’re more likely to spot a mistake that might be working against you. And in some cases, a credit report can alert you to the fact that someone has stolen your identity and opened a new account in your name.

Now, you may be worried that if you check your credit report too frequently, you’ll end up causing damage to your credit score. The good news, though, is that checking your own credit report won’t have a negative impact on your credit score whatsoever.

You’re free to check your credit report as much as you want

Whenever you apply for a new credit card or loan, the issuing company or lender will perform a hard inquiry on your credit report. That’s because lenders and credit card companies need to know what sort of borrower they’re loaning money to or extending a line of credit to.

Each hard inquiry on your credit report has the potential to drag your credit score down by a handful of points. A single hard inquiry won’t do very much damage. But a series of hard inquiries might result in a notably lower credit score, and that’s not ideal.

You can rest assured, though, that checking your own credit report is not the same thing as a lender checking it. So you can access your credit report when you want or need to without having to worry.

In fact, it’s a smart idea to check your credit report several times a year. If you spot an error that could work against you, like a delinquent debt you never racked up in the first place, correcting it could help your credit score improve quickly.

Also, let’s say you spot an open credit card account on your credit report that you don’t recognize. That could prompt you to contact the company in question, explain that the account is fraudulent, and minimize the damage.

You can check your credit report for free every week this year

Normally, you’re entitled to a free copy of your credit report once a year from each of the three reporting bureaus — Experian, Equifax, and TransUnion. During the pandemic, credit reports were made available for free on a weekly basis, and that benefit has been extended through the end of 2023.

Of course, most people don’t need to check their credit reports on a weekly basis, since not much is likely to change from one week to the next. But it definitely pays to check your credit report every few months on an ongoing basis.

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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.

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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 quick answer? It depends on your account. 

The purpose of opening a brokerage account and investing in one is to grow wealth over time. And to do that, you need to put money into your brokerage account.

Now, you might end up with a brokerage account balance of $500, $5,000, or $50,000 at some point in time. You might also reach a point where your brokerage account balance is whittled down to $0.

You may be wondering what happens in that latter scenario. The answer? It depends on your brokerage account and its rules.

Not all accounts are created equal

Different brokerage accounts have different rules. While some brokerages charge a fee for not maintaining a minimum account balance, others do not. So whether you incur a fee for a $0 account balance will depend on where you’re holding your investments.

You may be wondering how it might come to be that you’re left with no money in your brokerage account. First of all, it is possible to make some unfortunate choices as far as investments go and lose all of your money. But what’s probably more likely to happen is that you’re forced to liquidate your investments and empty out your brokerage account due to needing money and not having enough cash in a savings account to tap.

How bad is it to have a $0 brokerage account balance?

If you don’t have any money in your brokerage account, you generally can’t buy more stocks, ETFs, or whatever assets you typically invest in. And if you maintain a $0 balance for an extended period of time, that could end up impeding your long-term financial goals.

If your brokerage account balance is sitting at $0 but you have a little extra money in the bank to move over, you may want to do so and get back to investing. And the good news is that some brokerages will give you early access to funds even if they haven’t hit your account yet.

With Robinhood, for example, you may get up to $1,000 instantly after you initiate a transfer from your checking account to your brokerage account. So, let’s say you have $0 in your Robinhood account and decide to transfer $2,000. It might take several business days for all of that money to clear, but you may be eligible to start buying stocks with up to $1,000 right away.

Don’t settle for $0

It takes money to make money, and that applies to your brokerage account. So if your balance has gone down to $0, do what you can to pump more money into your account as soon as you can.

You should also familiarize yourself with the rules of your brokerage account and see whether you’ll be penalized for failing to maintain a minimum balance. Many brokerages won’t charge you in that scenario, so if yours will, it may be a good idea to move your money into a different brokerage (or, in the case of a $0 balance, simply start funding a new brokerage account as you’re able to).

Our best stock brokers

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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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