Money Management

If you’re hosting a gathering, these may be worth purchasing. 

If you’re a football fan, there’s a pretty major sporting event coming up on Feb. 12 that you may be eager to watch. And even if you’re not really into the game, you may be looking forward to the creative commercials that are always interspersed between plays.

Meanwhile, it may be your turn to host friends for the big game. Or maybe you’re planning a smaller family party at home. Either way, you can pull off a terrific gathering without breaking the bank if you load up on these awesome Costco finds.

1. Rojo’s Street Corn Dip

If you’re gathering to watch the big game, you’ll probably want to serve your fair share of chips and dips. And while you could go the classic salsa route, this corn dip might be a nice, refreshing change from your usual dip lineup. You can scoop up a two-pound container at Costco so there’s plenty to go around.

2. Bistro Pretzel Bites Party Tray

Why stick to just chips and dip when you can take things up a notch with soft pretzels and dip? This tray comes in at over two pounds and features pretzel bites and an assortment of dips, including mustard and cheese sauce. Your guests might get so full, you don’t even need to order a pizza.

3. Tuscan Kitchen Supreme Pizza

Who are we kidding? It wouldn’t be a real party without pizza. And while you could order pizza from a local restaurant, you’ll risk having your delivery delayed given what’s apt to be an uptick in demand that night. Instead, you can score almost three pounds of pizza to heat up in your oven when the time is right with this Costco find. You’ll not only have something filling to offer your guests, but you’ll likely rack up a much lower credit card tab than if you have pizza delivered.

4. Tostitos Scoops

When you’re throwing a party, regular chips won’t cut it. You need specially curved chips to scoop up all of that delicious dip you’ll be putting out. You can purchase a 1.38-pound bag of Tostitos Scoops at Costco — or two, if you’re having a larger number of people over. That should be enough to get you through multiple hours of TV viewing.

5. Daisy Pure & Natural Sour Cream

You could buy a variety of dips for your game day party. Or, you could get creative and make some of your own. Either way, sour cream makes a good base, and if you don’t want to spend a lot of money, Costco has a three-pound tub of Daisy Pure & Natural for a competitive price. (Pro tip: Buy some onion soup mix, combine it with sour cream, and you’re good to go.)

If you’re a football fan, then you’re probably counting down the days until Feb. 12 arrives. These Costco products could take your game day gathering to the next level.

And remember, while some of these items may be seasonal, others, like Tostitos Scoops and Daisy sour cream, can generally be found at Costco all year round. So if you end up wanting to throw a repeat party (say, to celebrate the start of baseball season), you can pretty much bank on being able to find some suitable eats at Costco.

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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.Maurie Backman 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 could see a quicker payday. 

These days, many consumers are buckling under the weight of inflation. While the rate of inflation has eased since peaking in mid-2022, a lot of people are still struggling to pay their mortgage loans, cover their utilities, and put food on the table. And if you’re one of them, you may be desperate for a windfall.

But a pile of cash may indeed be coming your way. If you commonly get a sizable tax refund from the IRS, and your financial situation didn’t change substantially in 2022 compared to previous years, then you may be in line for some money back this year. And the sooner you file your tax return, the sooner that cash could hit your bank account.

But filing a tax return early isn’t the only move to make if you’re looking to expedite your refund. There are two other important steps to take.

1. File electronically

When you mail in a paper tax return, someone at the IRS has to go through it. But the IRS is already starting off this year’s tax season with a massive backlog of tax documents to sort through. So if you submit your taxes on paper, it might delay your refund.

A better bet is to file your taxes electronically. It typically takes the IRS 21 days or less to issue refunds for tax returns that come in electronically, whereas the normal turnaround time for refunds on paper returns is six weeks. That’s a huge difference when you could really use a nice influx of cash.

Plus, let’s not forget that when you send in a paper tax return, there’s always the possibility of it getting lost in the mail. Filing your taxes electronically takes that potential hiccup out of the equation, giving you one fewer possible holdup to worry about.

2. File an error-free return

If your tax return contains mistakes, it might get rejected. Or, the IRS might attempt to reconcile those errors, but that could result in a refund delay.

That’s why it’s so important to submit a return that’s free of errors. The IRS might manage to fix what’s a clear math mistake, but anything more complicated than that could hold up your refund for weeks or longer.

Incidentally, submitting an electronic tax return could lower your chances of making a filing mistake. First of all, if you mess up your math, the software you use should be equipped to correct it, or at least flag your error. But also, these software programs are generally designed to catch big errors that could hold up a tax return. If you file on paper, you won’t get that added protection.

At a time when so many consumers are reeling from higher-than-average living costs, it would probably help to not have to wait on your tax refund. The IRS is accepting tax returns as of Jan. 23, so if you have all of your paperwork ready, you can submit your return at the end of the month. But if your goal is to snag your refund in short order, you’ll also need to make sure that your return is error-free, and that you’ve submitted it electronically rather than on paper.

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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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Home buyers won’t necessarily see their borrowing rates climb. 

The Federal Reserve has been on a mission to bring inflation down since 2022. To that end, it’s been raising its benchmark interest rate aggressively, knowing full well that that’s apt to indirectly drive up the cost of consumer borrowing.

See, the Fed wants consumers to start curbing their spending. That’s the only way to bring inflation levels downward, as a reduction in demand should allow supply to catch up to it. And it’s a disconnect between supply and demand that’s been driving inflation upward in the first place.

Meanwhile, on Feb. 1, the Fed raised its benchmark interest rate by 0.25%. That’s a smaller increase than recent rate hikes, but an increase nonetheless. And now, the fear is that it will cost consumers more to borrow money, whether in the form of credit card balances or personal loans.

But those looking to sign a mortgage loan may not necessarily see their costs rise on the heels of this latest rate hike. Even though the Fed’s actions could influence mortgage rates, those rates tend to have a mind of their own.

Mortgage rates tend to follow their own pattern

Last year, the Fed didn’t begin raising its benchmark interest rate until March. And when it did, it announced a modest rate hike of 0.25%. It wasn’t until June that the central bank hiked up interest rates by a rather aggressive 0.75%.

Meanwhile, as of the end of 2021, the average 30-year mortgage rate was just over 3%. By the end of January, it was around 3.5%. And by May, it was well over 5%.

All told, mortgage rates managed to rise significantly in 2022 before the Fed’s first aggressive interest rate hike was announced. And that lends to the argument that mortgage rates don’t tend to be as influenced by the Fed’s rate hikes as other borrowing products. As such, the Fed’s most recent rate hike may not drive mortgage rates up at all.

That’s a good thing, because as of late January, the average 30-year mortgage rate was still over 6%. That’s an improvement from the fall of 2022, when that same home loan product topped 7%. But it’s about twice the rate borrowers would’ve been facing at the start of 2022.

Mortgage rates could rise or fall this year

In light of all of this, a clear question comes to mind: What does 2023 have in store for mortgage rates? And the answer is that it’s really hard to say.

There’s a good chance mortgage rates will continue to slowly creep downward as the year progresses. But we could see rates rise along the way, too.

One thing that’s not likely in the world of mortgages is getting back to rates in the 3% range for 30-year loans. But could rates fall to or below 5% in 2023? That’s a possibility.

Ultimately, prospective home buyers will have to wait and see. But those looking to purchase a home in the near term also don’t necessarily need to panic over the Fed’s latest rate hike.

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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 to break that vicious cycle. 

Many of us are big fans of “Groundhog Day” — the classic 1993 movie where Bill Murray finds himself reliving the same day over and over again. But you may be setting yourself up for your own personal financial “Groundhog Day” without even realizing it. And so if you’ve been known to make these money mistakes repeatedly, it’s time to put an end to them.

1. Carrying a credit card balance

U.S. credit card balances hit $930 billion in late 2022, according to TransUnion. And that means a lot of people may be losing loads of money to interest.

Rather than get stuck in an endless cycle of credit card debt, aim to pay off your balances in full every month. And if you can’t do that, the answer is simple — start spending less. Either that, or find a way to boost your income to keep up with your spending habits, like picking up a side hustle on top of your main job.

2. Being late with credit card payments

Being late with credit card payments could mean getting hit with costly late payment fees. It could also mean seeing your credit score take a dive.

Many consumers don’t realize that a single late payment could have a really noticeable impact on their credit — especially if their scores are higher to begin with. So mark your calendar with your credit cards’ due dates to avoid being late with your payments due to forgetfulness. And check your credit card balances weekly to avoid being late due to a lack of funds to make your minimum payments.

3. Not paying attention to your credit cards’ interest rates

Sometimes, carrying a credit card balance is inevitable. If your car needs a $1,000 repair, for example, and you don’t have the money in your savings account to pay for it, you may have no choice but to charge it on a credit card and pay it off as you can.

But don’t just choose a card at random from your wallet. Instead, take a look at the various interest rates attached to your cards, and go with the one whose interest rate is lowest.

4. Waiting until the end of the month to move money into your savings

Some people spend their paychecks week after week and hope there’s money left over for savings purposes at the end of the month. But if you stick to that system, you may find that your savings don’t grow at all.

A better bet? Set up an automatic transfer at the start of the month so that money moves out of your checking account and into your savings before you get a chance to spend it. And if you have a complete emergency fund and are focused on retirement savings, set up an automatic transfer to your IRA account instead.

It’s one thing to make a money mistake here and there, but it’s another thing to keep making the same blunders repeatedly. If you’ve been known to fall victim to these traps on more than one occasion, it’s time to break that cycle — and set yourself up for financial success.

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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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