You don’t have to be a chef or a restaurant owner to shop here. The Image Party / Shutterstock.com
I am not a chef. I have never owned a restaurant. And yet, some of my favorite kitchen purchases have been from restaurant supply stores. Before I had braved one of these stores, I assumed shoppers needed some kind of food-industry ID to be allowed in. I didn’t realize that many restaurant-supply stores are open to the public. Based on my experience, I can guarantee you that no one will quiz you…
You may end up having to pay more for the home you want.
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Although there’s still a nice amount of buyer demand in today’s real estate market, the market isn’t nearly as hot as it was in 2021. Back then, mortgage rates were super competitive, so buyers were clamoring for homes at every end of the market, from the low end to the high end.
Now in 2021, a lot of buyers were interested in larger, luxury homes, and for good reason. Many people were still in isolation mode due to COVID-19 and wanted more space to spread out. And since it wasn’t so expensive to take out a mortgage loan, buyers had more wiggle room in their budgets.
But the tide seems to be turning for luxury homes. Higher mortgage rates and recession fears have driven down the price of luxury homes from their mid-2021 peak, reports Realtor.com. But the price of starter homes is continuing to rise, making things difficult for buyers on a budget.
There’s been strong demand for starter homes since mortgage rates started falling in mid-2020. But while the demand for other types of homes has waned over the past year, buyers are still interested in buying starter homes — and their growing price reflects that.
As of the end of 2022, starter homes were seeing 15% year-over-year price increases. Luxury homes, meanwhile, only saw growth of about 2.5% for most of 2022 and closed out the year mostly flat (meaning, no annual uptick in prices).
Of course, it’s easy to see why buyers may be more interested in purchasing starter homes today — they’re more affordable. And they’re also a good bet for first-time home buyers because they tend to be smaller, and that means less maintenance. Many new buyers are shocked to learn how much upkeep needs to go into a home, so kicking off ownership with a smaller property can help make that transition smoother.
Starter homes tend to be less expensive than larger or luxury homes by nature. But because their prices are still elevated, buyers today may not end up getting much of a break on them — especially when we factor in today’s higher mortgage rates.
It’s not really such a great time to buy a home in general. It’s expensive to borrow, and inventory is limited. And in the case of starter homes, prices are still up considerably.
If you’re truly tired of renting or can’t renew your lease, and you don’t want to bounce around from rental to rental, then you may want to make an offer on a starter home if you manage to find one that’s suitable for you. Otherwise, you may want to sit tight a little bit longer and see if more starter homes hit the market. If that happens, prices should start to come down.
Also, mortgage rates could drop in the course of 2023. Granted, we can’t say that with certainty, but it’s possible. So waiting to buy a starter home might result in a lower purchase price and a lower interest rate on a home loan.
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You don’t need a bank to invest in T-bills.
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Treasury bills, or T-bills, are a popular investment option for both individuals and corporations. They are low-risk, highly liquid investments that can offer investors a steady stream of income. Banks often also sell T-bills to their customers, but there are several advantages to buying them directly from the U.S. Treasury yourself. Let’s learn more about T-bills and how they work.
The U.S. Government offers investors five types of Treasury securities: Treasury Bills, Treasury Notes, Treasury Bonds, Treasury Inflation-Protected Securities (TIPS), and Floating Rate Notes (FRNs). These are considered to be very safe investments since they are backed by the full faith and credit of the U.S. government, making them a popular choice among investors who want to maximize their return while minimizing risk. Let’s look at the details of each.
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Treasury bills are short-term securities with maturities ranging from four weeks to 52 weeks. They are issued at a discount and redeemed for the face value at maturity. In other words, when you buy a T-bill, you pay less than its face value. When it matures, you receive the full face amount.Treasury bonds (T-bonds) are long-term securities with maturities of 20 or 30 years. They pay interest semiannually, and the principal is repaid at maturity.Treasury notes (T-notes) are intermediate term securities that have maturities of two to 10 years. They also pay interest semiannually, and the principal is repaid at maturity.Treasury Inflation Protected Securities (TIPS) help protect against inflation, and the principal of a TIPS can go up with inflation or go down with deflation.Floating Rate Notes (FRNs) are short-term investments that pay interest every quarter and mature in two years.
Each type of security can be bought and sold in the secondary market from a stock broker, making them highly liquid investments. They also offer investors a variety of different maturities, so it is possible to find one that meets your investment goals and timeline. Here are some of the benefits you get when you buy T-bills directly from the U.S. Treasury.
When you buy T-bills through your bank, it may charge you additional fees and expenses such as sales commissions or transaction charges. These extra costs can add up over time and eat into your returns on your investment. Buying directly from the U.S. Treasury eliminates these extra charges so you get more of your money back in interest payments each month or quarter.
There are two ways to buy T-bills: bidding non-competitively and bidding competitively. When bidding non-competitively through TreasuryDirect.gov, you accept the interest rate determined at auction and are guaranteed to get the security you want in the amount you want. To bid competitively, you must work through a bank, brokerage firm, or dealer. When you bid competitively, you choose the interest rate that you want. However, based on the results of the auction, you may not get the T-bill. If you do get it, it may be less than the amount you want. For example, if the rate set at auction is 1.5% but you bid 1.75%, your bid will be rejected.
Some banks may have a higher minimum amount to purchase T-bills. For example, Fidelity, like many other banks and brokerage firms, has a minimum of $1,000. The minimum purchase for purchasing T-bills yourself is $100.
Investing in treasury bills is an attractive way for investors to earn a steady stream of income without taking on too much risk in their portfolios, but it’s important to make sure that you’re getting the best deal possible when investing in these government securities. For those looking for maximum returns with minimal effort, buying treasury bills directly from the U.S. Treasury has some advantages over going through a bank or other intermediary.
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It pays to check out this program and see if it’s right for you.
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In the early days of the pandemic, many people took to ordering groceries online to avoid having to set foot in stores. And many people also realized how convenient services like Instacart are.
With Instacart, you basically send someone else to the store to do your shopping. Your items are delivered to your door so you never have to leave the house.
If you don’t have a car, using services like Instacart makes a lot of sense. And even if you do have a car, if you have a busy schedule or just plain don’t like to shop in person, paying for the convenience may be worth it to you.
But when you use Instacart, you pay extra for the items you want to purchase. And you also have to pay delivery fees.
But if you sign up for Instacart+, you can avoid paying those fees for orders over $35. And right now, you can sign up for a free two-week trial of Instacart+ to see if the program is right for you.
With Instacart+, you get unlimited free delivery on orders above $35. And if you look at Instacart’s website, it claims that a membership, which costs $99 a year or $9.99 a month, pays for itself in as few as one to two orders per month. That assumes an average savings of $7 per order, which Instacart seems to think is reasonable.
If you’ve never used Instacart before, or you’re wondering if unlimited access to free deliveries is right for you, then it pays to consider signing up for a free two-week trial. You can do so in the Instacart app or on Instacart’s website. If you decide that Instacart+ doesn’t offer you enough value to justify the cost, you can simply cancel and avoid having your credit card charged.
If you don’t have a car, and you can’t do your food shopping without having to pay for a rideshare home every time (because let’s face it — you can only carry so much with your hands), then you may want to compare the cost of paying for an Uber or Lyft versus using a service like Instacart. You may find the cost is similar, only with Instacart, you don’t have to leave the house.
Otherwise, grocery delivery is something you may want to limit if money is tight. It’s okay to treat yourself to grocery delivery during a uniquely busy week. But if you have a car and relatively easy access to a supermarket, and you don’t have health or mobility issues that limit your ability to shop for food yourself, then you might as well not spend the extra money on Instacart+ and put that cash into your savings account instead.
That said, there is an exception. If you’re self-employed, it could pay to use a service like Instacart even if you have a vehicle and a supermarket right around the corner. If it takes you an hour to shop, that’s an hour of income you might lose. So in that case, it’s a lot easier to justify the cost.
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You might spend less on a home than you did last year, but don’t assume homes will be inexpensive.
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There’s a reason so many buyers struggled to purchase a home in 2021 and 2022. Not only has housing inventory been very limited, but home prices have been elevated, forcing buyers on a budget to pull out of the market.
But home price gains have been slowing in recent months. And if that trend continues, buyers might get some relief — albeit limited — in 2023.
When we talk about a decline in home price gains, it’s important to note that sellers are still profiting on their listed properties. They’re just not profiting as much as they did months ago.
In October 2022, U.S. home prices rose 9.2% on an annual basis, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. But that was a weaker gain than what the index registered in September, when home prices rose 10.7% on an annual basis.
In fact, if we go back to mid-2022, we can see that home prices seem to have peaked in June, and that gains have been sliding ever since. If that trend holds up, buyers could end up in a stronger position to purchase a home during the latter part of 2023. But that doesn’t mean homes will magically go from being unaffordable to affordable within months.
While buyers might get some relief with regard to home prices later this year, there’s the issue of mortgage rates to consider. Right now, buyers are looking at roughly twice the borrowing rate they would’ve locked in a year ago. And if mortgage rates don’t come down, many buyers might remain in a position where they can’t make an offer on a home.
We don’t know what direction mortgage rates will trend in this year, as that will hinge, at least to some degree, on how aggressive the Federal Reserve is with its interest rate policies. Last year, the Fed implemented a series of sharp rate hikes in an effort to cool inflation. And while the Fed doesn’t set mortgage rates directly, when it raises its federal funds rate, that tends to drive the cost of borrowing up across the board.
In December, the Consumer Price Index showed a nice dip in inflation compared to the previous month. That could lead to a slowdown in rate hikes, which might translate into relief for mortgage borrowers. But it’s a little soon to know.
Ultimately, those looking to buy a home will need to keep tabs on the housing market and pay attention to home sales, prices, and inventory. They’ll also need to keep track of mortgage rates and see what direction they trend.
As a general rule, buyers should aim to keep their monthly housing costs to 30% of their income or less. And that 30% limit includes expenses like homeowners insurance and property taxes — not just a mortgage payment. Whether housing market conditions and borrowing rates allow for that among more buyers this year is yet to be determined.
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It really depends on your budget, shopping list, and priorities.
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There’s a reason Whole Foods has gotten the nickname of “Whole Paycheck.” Shopping there could lead to a massive credit card tab — even if you’re not buying a whole lot of items.
In fact, not so long ago, my husband and I had dropped our kids off at a birthday party and had 90 minutes to spare. We decided to wander the aisles of a nearby Whole Foods, and some of the prices we discovered were downright shocking (at least to us).
First, there was a package of four gluten-free rolls for $11.99. Each roll looked to be the equivalent of about three bites, so it would be more accurate to label them as mini rolls. And so by our estimates, that particular product would cost about $1 a bite to consume.
Next, we stumbled across the produce aisle. While some of the items were reasonably priced, we couldn’t help but laugh at the package of approximately 16 organic raspberries for $6.99.
All told, that trip to Whole Foods had us convinced we’d never shop there on any sort of regular basis. But is Whole Foods really that expensive? And do you really need to write it off as a supermarket destination?
Those gluten-free rolls (er, mini rolls) for $11.99 seemed ridiculously priced to me and my husband. But to be fair, we don’t have gluten allergies in our household, so we’re not fully versed in what gluten-free products cost.
I decided to look at gluten-free rolls at my local ShopRite to see if the prices would be comparable. And they were considerably lower, but expensive nonetheless.
So all told, it may be possible to save a decent chunk of money by shopping at stores that aren’t Whole Foods for specialty items. But if you have specific dietary needs, Whole Foods might offer you a wider selection. And also, some of its products might just plain taste better. I wouldn’t know, because I don’t eat them.
While Whole Foods is expensive, to some people, it may be worth the money. If you’re someone who cares a lot about eating organic foods, or if you have a special diet to follow, then it may be worth racking up a $200 grocery bill instead of $120 to get the items you want. But if you don’t particularly care about eating organic foods and aren’t bound to any sort of food restrictions, then you may want to steer clear of Whole Foods — especially if money is at all tight.
If eating a certain way is important to you, then it may be worth it to try to carve out room in your budget to shop at Whole Foods. And to be clear, not every item at Whole Foods costs more than what you’d pay at a regular supermarket. Most items, however, are priced higher.
Case in point: A half-pint of organic raspberries at my local supermarket was $5.99 the last time I checked. So clearly, this is not a bargain item. But it was a lower price than what Whole Foods offered.
My husband and I spend a lot of money on food because eating well is important to us, and also, because we get enjoyment from good food. But to us, Whole Foods is still largely not worth the higher price point. We’d rather spend our money at stores like Costco and Trader Joe’s. However, if shopping at Whole Foods adds value to your life and you can afford to do it, go for it.
For some people — namely, lower earners — Whole Foods will just plain not be an option. But if you have more financial wiggle room, you can make the decision to spend more on groceries by shopping at Whole Foods consistently, and there’s nothing wrong with that at all.
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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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