Money Management

Sam’s Club has unique offerings you won’t find at Costco. 

As the products we buy every day become more expensive, many shoppers are looking for any opportunity to get a great deal. If you’re feeling the financial strain of rising living costs, you may want to consider shopping at a different retailer to keep more money in your checking account.

A warehouse club membership may be ideal for stocking up on bargain bulk buys. If you’re considering joining a warehouse club like Sam’s Club or Costco, you may wonder which club is better. Sam’s Club has several stand-out features that could make it a better fit for you.

1. Membership fees are cheaper

You must pay for a membership to shop at a warehouse club. The yearly membership prices for Sam’s Club and Costco are relatively similar — but you’ll pay less to shop at Sam’s Club. Both clubs have two non-business membership tiers. Below is a breakdown of the prices:

Costco:

Gold Star membership: $60Executive membership: $120

Sam’s Club:

Club membership: $50 Plus membership: $110

As you can see, it’s slightly cheaper to join Sam’s Club. Sure, a $10 price difference is small, but if you’re trying to keep your extra spending to a minimum, it’s the most affordable option.

2. Prices are the same in-club and online

Depending on which warehouse club you join, you may pay higher prices to shop online. Prices listed at Costco.com can differ from those shown at your local club. Costco notes that you may spend more money to buy products at Costco.com due to shipping, handling, and delivery fees. However, Sam’s Club does things differently. Prices listed at SamsClub.com are the same as those at your local club. That means you’ll get the best deal whether you shop in-club or online.

3. Plus members can shop earlier than Club members

Costco and Sam’s Club offer more perks to customers with higher-tier memberships. But Costco no longer offers early shopping hours to members with Executive memberships. Sam’s Club opens its clubs earlier for shoppers with pricier Plus memberships.

While hours of operation can vary depending on location and the day of the week, you can generally expect to be allowed to shop at Sam’s Club one to two hours before regular opening hours if you have a Plus membership. This valuable perk can help you beat the crowds.

4. Scan and Go lets you skip the checkout line

One Sam’s Club perk that could be a win for shoppers who are short on extra time is the Scan and Go service. All members can use this time-saving service through the Sam’s Club mobile app. The best part is it costs $0 to use.

Here’s how it works:

As you shop, scan each item’s barcode before putting it in your cart.When you’re done, pay for your purchases through the app.Show your digital receipt on the way out.

5. Members can save time with curbside pickup

If you’re a fan of curbside pickup, Sam’s Club may be the warehouse club for you. All members can utilize this service. Club members must pay a $4 fee per order, but Plus members can use it for free. Costco previously tested out this offering but no longer has curbside pickup. If you value added convenience, you may want to choose to join Sam’s Club.

Review benefits before joining

Could you save money by joining a warehouse club? It’s possible. Many shoppers save by doing so. But consider your current shopping and spending habits before joining to determine if it’s a good move for you. You may be able to improve your personal finances by spending less money on groceries and household essentials.

But which club should you join? If you’re trying to decide whether to join Sam’s Club or Costco, review the membership benefits and perks offered before spending money on a yearly membership. You want to make sure you can get the most out of your investment.

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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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You don’t want to give up money that’s yours. 

Many of us struggle to save money for retirement. After all, it’s hard to make those IRA or 401(k) contributions when we’re busy tackling other expenses, like mortgage payments, car loans, and utility bills. That’s why when you do manage to save for retirement, you shouldn’t be willing to give that money up.

Unfortunately, though, a lot of people fall into that very trap when they save in an employer-sponsored 401(k) plan and then leave their jobs or get let go. In fact, Vivian Tu of Your Rich BFF says she once left $30,000 in an old 401(k), which was a huge mistake. And it’s a mistake you don’t want to repeat.

Don’t neglect your money

Tu explains that lots of people leave their 401(k)s at their old jobs after they quit or get laid off. But in doing so, they often end up paying high fees for no good reason.

In fact, Tu says that not rolling over a 401(k) has the potential to cost almost $700,000 in forgone retirement savings over a lifetime. That’s a heck of a lot of money to give up.

If you’ve realized that you’ve forgotten about an old 401(k), don’t panic. But also, dig up an old statement or log into your account so you can start the process of rolling that money into an IRA account. You can also roll an old 401(k) into a new 401(k) if you’re working for a company that has its own plan.

Either way, though, your best bet for moving your money over is to do a direct rollover. This basically has your money transferring from one retirement account to another without you getting a check.

If you do an indirect rollover, where you get a check for your old 401(k) and it’s on you to deposit those funds into a new retirement account, you only get 60 days to put that money where it needs to go. If you don’t stick to that time frame, the check you receive with your old 401(k) funds might be treated as a distribution, which could leave you subject to penalties and taxes.

A great way to find missing money

You may not realize how many old 401(k)s you’ve abandoned during your career. If you’ve switched jobs a lot, it may be that you have $3,500 lingering in one 401(k), $3,000 in another, and $2,000 in a third.

That’s why Tu recommends using a service called Capitalize. It helps people find old 401(k)s at no cost.

Capitalize estimates that there are more than 25 million unclaimed 401(k) plans just sitting waiting to be reclaimed. So if you’re not sure whether you have funds for retirement floating around out there, it could pay to check it out.

Funding a 401(k) takes a lot of effort, so you don’t want yours to go to waste. If you know you have a 401(k) from an old job, don’t just leave your money sitting there. Instead, roll it over. And if you’re gearing up to leave a job, make a plan for your 401(k) so you don’t end up forgetting about the money you’ve worked so hard to save.

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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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Save money on your next grocery trip with a bit of egg-sperimentation.  

Eggs used to be a relatively good value way to eat healthily. They are still a great source of nutrients, but after eye-watering price jumps last year, they’re almost becoming more of a luxury than a staple. Data from the Bureau of Labor Statistics shows eggs cost an average of $4.21 a dozen (down from a high of $4.82 in January).

That’s more than double the cost a year ago. In fact, eggs have gotten so expensive that in February, Bloomberg showed a dozen eggs cost more than a pound of ground beef. With that in mind, and with Easter around the corner, we looked into some egg substitutes that won’t make such a dent in your bank balance. It turns out that you don’t have to shell out quite so much to bake some delicious family treats.

Four money-saving egg alternatives

It isn’t easy to substitute the egg if you’re making fried eggs for breakfast. But in many other cases, particularly baking, there are some egg-scellent — and better value — alternatives. I tested out several in a straightforward muffin recipe to see which came out on top. I steered clear of ingredients that aren’t that common or would end up costing more than the eggs themselves.

1. Mashed banana (6/10)

1 egg = 1/4 cup of mashed banana

Before we get into the negatives, it’s worth pointing out that all the egg substitutes worked reasonably well. Mashed banana came at the bottom of the ranking because the texture was slightly too sticky. Plus, the flavor of the banana came through too strongly. That said, the muffins rose well and crisped nicely on top.

2. Water, oil, and baking powder (7/10)

1 egg = 2 tbsp water, 2 tsp baking powder, and 1 tsp vegetable oil

The great thing about the mix of water, oil, and baking powder is that I used all those ingredients to cook the muffins, so I didn’t need anything that wasn’t already on the kitchen counter. The downside was that the muffins rose too quickly in the oven and then sank when they came out. The texture of the final product was almost crystalized rather than soft and chewy.

3. Fizzy water (8/10)

1 egg = 1/4 cup of carbonated water

This was the biggest surprise in my baking experiment. Who’d have thought that fizzy water would do the same job as an egg at a fraction of the cost? The muffins rose well and — unlike the oil and baking powder option — held their shape. My only criticism was that the muffins stuck to the pan slightly and the texture was almost too airy.

4. Applesauce (9/10)

1 egg = 1/4 cup of unsweetened applesauce

The applesauce poached the top spot on our egg substitute quest. There was a slight apple flavor, but it wasn’t too strong. The final product had a moist, chewy texture that held its shape without being overly dense.

Thanks to Kitchn for egg substitute ideas and quantities.

Other ways to save money on groceries

Substituting expensive ingredients can be a great way to slash your grocery costs. You might use fewer eggs with one of the options above, or even cut back on the meat you eat by switching to beans or another protein for a couple of meals. It’s important to find options that work for everyone in your household, otherwise your attempts to save a few bucks could cost you more in wasted food.

If you have a rewards credit card, use it when you buy groceries. If what you spend at the supermarket makes up a large portion of your monthly costs, consider a credit card that pays high rewards on groceries. You can layer rewards by also using a cash back app. These apps can also be a good way to know the best deals before you set foot in the store.

Never go to the store without a list. It can help you save time and avoid impulse purchases. It also means you’ll make less trips to the store. If you have room to store your purchases, bulk buying is often a lot less expensive in the long run. But make sure you’ll use everything before the sell by date, otherwise it can actually cost you more.

Bottom line

Few Americans have escaped the impact of increased living costs. If you’ve been feeling the pressure, look at ways to substitute out expensive ingredients. For example, carbonated water and apples are much less costly than eggs, and you’ll hardly notice the difference.

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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.Emma Newbery has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy.

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