Money Management

If you’ve been considering joining Costco, now’s your chance. 

If your relatives haven’t signed up for a Costco membership yet, now is the time. The company is offering a limited-time deal through Feb. 13. Shoppers who purchase a year-long Gold membership will receive a $30 Costco gift card.

It’s one of the better sign-up deals out there, especially when you consider Costco might raise membership prices later this year. Former Costco members may also be eligible for the deal.

Who is eligible for the gift card?

You can qualify if you meet either of the following requirements:

Never had a Costco membership beforeMembership has been expired for more than 18 months (before April 2021)

Other requirements:

Limited to US and Puerto Rico customersYou can only purchase two: one for yourself, one as a giftLimited to one per household

If you don’t have easy access to Costco, chances are you qualify. It’s simple to share membership benefits with household members — one Gold membership covers an entire household. If you have the opportunity, consider sharing to save on membership fees.

Note: This deal isn’t available just anywhere.

Where do you sign up?

Folks who are interested should navigate to the Costco offer online. There, shoppers can purchase the year-long Gold membership for $60 plus sales tax.

When do you receive the card?

You don’t receive your gift card immediately. Buyers who provide their email addresses get emailed their digital Costco gift card within two weeks of purchase.

Is the gift card worth the annual Gold membership?

The deal may be worth it if you’ve been wanting to purchase a Costco membership but haven’t yet. The gift card is half the cost of the $60 annual membership. Split among three household members, the yearly membership price drops to $20 each.

Here are some of the best perks of going Gold:

Costco wholesale prices Cheap gas at Costco stationsAccess to the Costco pharmacy at store locations

My household enjoys shopping at Costco for expensive products we’d rather buy in bulk for lower prices. his includes things like fish, avocados, and eggs. The best Costco deals for February are already in season — worth checking out.

Plus, drivers with gas-powered vehicles enjoy cheaper gas prices. Gold members can pump their savings to fresh heights by purchasing gas with the best gas credit cards to get cash back.

That said, folks who (1) live alone and (2) shop for themselves stand to benefit the least from a Costco membership. The membership thrives when a household splits the membership cost and purchases items in bulk.

Shopping at Costco can reduce the cost of groceries/gas. That’s more money to put toward a nest egg in a high-yield savings account. Consider the pros and cons of a Gold membership with household members before purchasing to ensure you’re on the same page.

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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.Cole Tretheway 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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These services can act as a digital wallet. 

With so many online stores and services requiring usernames, passwords, and credit card information, it can be difficult to keep track of all that data. It seems as though there are always reports of another major site with our personal information hacked. It’s no wonder that we are all looking for the best and safest way to store our important details. Password managers have become increasingly popular as a way to securely store credit card information, but should you really be using one? Are they safe to store your credit card information? Let’s take a look.

What is a password manager?

A password manager is a program or app used to securely store and manage your passwords, usernames, credit card numbers, and other sensitive data. They generate strong, unique passwords for each website or service you use, and then use those passwords to automatically log you into your account when you visit that site again. This eliminates the need for you to remember multiple passwords or enter them manually every time you log in.

You can also store your credit card information in some password managers like LastPass, Bitwarden and 1Password. The password manager can act like a digital wallet, where you can make online transactions securely. Many programs offer features like auto-filling your credit card into forms on websites so that you don’t have to re-enter the same information over and over again. These programs also have mobile apps that sync with your phone, allowing you to shop on the go without having to pull out your wallet every time.

Why use a password manager for credit card information?

By using a password manager application to store your credit card information instead of relying on manual storage solutions like sticky notes or spreadsheets, you can ensure that your data remains secure even if someone else gains access to your computer or device. Additionally, most password managers also offer two-factor authentication (2FA) as an option.

This means you can add an extra layer of security by requiring that users enter both a username/password combination and a one-time passcode sent via email or text before you can access your accounts. This means that even if someone were able to guess your username/password combination, they would still need the one-time code in order to gain access. This makes it extremely difficult for hackers to access your credit card information.

Are there any downsides to using a password manager?

Unfortunately, nothing is foolproof. Even password managers can be hacked. In August 2022, LastPass had a security breach where an unauthorized party was able to access customers’ information. But because LastPass uses encrypted fields, customers’ passwords remain safe. If someone were able to gain access to your account on the password manager itself — perhaps by guessing your master password — they could potentially gain access to all of your stored passwords and credit card information at once.

However, this risk is greatly reduced if users enable two-factor authentication on the password manager and ensure they use strong master passwords that cannot easily be guessed. According to LastPass, due to their default master password settings, “it would take millions of years to guess your master password using generally-available password-cracking technology.” It is important to regularly change your passwords, even if you use a password manager, to help reduce any security risks.

Using a password manager is an effective way to keep your credit card information safe and secure online. Not only do they provide strong encryption technology but they also come with added security features such as two-factor authentication which make it nearly impossible for hackers to access your data even if they were able to breach the encryption technology itself. As long as you choose a reputable provider, you can have greater peace of mind knowing that your sensitive data will remain safe from prying eyes online.

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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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It’s a trap you don’t want to fall victim to. 

Most people who want to buy a home can’t swing that sort of purchase outright. That’s what mortgages are for.

But choosing the right mortgage lender is crucial. This especially holds true today given that mortgage rates and home values are both up across the board. As such, you may be inclined to turn to an online platform for help in finding the right lender to work with on your home loan.

But the Consumer Financial Protection Bureau (CFPB) just issued a warning that some of the companies operating these online mortgage lender platforms may not be as objective as consumers might expect. And if you’re not careful, you could be led astray.

When money pulls the strings

The companies that operate digital mortgage comparison platforms are supposed to match consumers up with lenders based on different criteria, including cost-savings for borrowers. Instead, the CFPB cautions that some of these platforms may be rigged to point borrowers toward lenders that pay them the largest kickbacks. So while you might think you’re getting a non-biased recommendation when you search for a mortgage lender, the reality is that you may be getting paired up with a lender based on how much there is to be made at your expense.

Of course, being led astray on a digital mortgage platform could have huge consequences. For one thing, it could lead to higher costs associated with taking out a mortgage, like getting stuck with a higher interest rate on your loan or paying more in closing costs. So it’s a good thing that the CFPB is raising alarms about this issue.

In fact, in a recent press release, CFPB Director Rohit Chopra said, “Given the rise in mortgage interest rates, it is even more important for homebuyers to shop and compare loan offers. We are working to ensure that online platforms are not manipulating their search results in order to coerce kickbacks from lenders.”

Other good ways to find a mortgage lender

Clearly, online platforms may not be your best solution for finding a mortgage lender. If the idea of using one has just lost its appeal, worry not — there are plenty of other steps you can take to find a lender for your upcoming home purchase.

For one thing, talk to your real estate agent. Chances are, they have relationships with lenders who not only offer competitive rates and fees, but, just as importantly, are easy to work with.

Another good bet is to talk to your friends and neighbors and see which lenders they used. But don’t just ask about rates and closing costs. Those could change over time and could vary based on factors like what your credit score looks like. Rather, ask about what their experience was like on a whole. Did their loans close quickly? Were their lenders responsive? Were there any last-minute surprises that came into play?

Finding the right mortgage lender is an essential part of the home-buying process. If you’re not comfortable trusting an online platform, turn to the people you know and trust, and rely on their advice to help narrow down your choices.

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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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It’s time you shouldn’t be giving up. 

One of the perks of being a salaried employee, as opposed to being freelance or self-employed, is enjoying different workplace benefits. These include things like access to a 401(k) plan (and sometimes, a nice match to go with it), subsidized health insurance, and paid time off for sick and vacation purposes.

But while many workers are entitled to paid time off, a large number don’t use it — or they don’t use it in full. In fact, unused paid time off has doubled since the start of the COVID-19 pandemic, according to Sorbet, a PTO solutions platform. And these days, a good 55% of paid time off goes unused. In 2019, only 28% of paid time off was forfeited.

If your job comes with the benefit of paid time off, it’s important to take advantage of it. Here’s why.

1. You need the break

Not taking time off from work could lead to a major case of burnout. That could result in both mental and physical health issues.

Now, perhaps you don’t have the money to go on an actual vacation. But in that case, you can always take a staycation. Explore your own city and check out museums and parks you’ve never been to. Or don’t. Stay home and binge-watch a TV series all day if you don’t want to add to your credit card tab. You’re getting a break from the grind either way, and that’s key.

2. You can use the time to your financial benefit

Maybe you don’t have the money or desire to take a vacation. If that’s the case, use your paid time off to plug away at your side hustle. That way, you can use your vacation time to pad your savings account or work toward another financial goal.

3. You don’t want your employer to pull that benefit

If your employer sees that workers aren’t taking advantage of the paid time off they’re entitled to, it might assume it’s a benefit it doesn’t need to offer. And that could result in less vacation time for everyone going forward. Clearly, that’s not a message you want to send.

How to take vacation time without stress

A big reason some people might hesitate to use their vacation time is that they’re worried about falling behind on work. And that’s understandable. But rather than forgo vacation time, lean on your colleagues and boss to get the escape you need.

You might, for example, designate one person to check your email while you’re out, and another to take over urgent internal requests. You may need to be prepared to return the favor down the line, but it’s worth it if it allows you to get a true break.

Also, plan your time off strategically. If winter is generally busy at your job, take time off in the spring or summer. And if you’re not sure, ask your manager for advice on when to take your time off.

Not everyone is entitled to paid time off. So if it’s a benefit you’re privy to, use it.

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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