Money Management

It’s good to know how much you can spend on the things you want rather than need. 

If you want to raise someone’s hackles, tell them how to spend, donate, or invest their money. Sure, we all want guidance, but few of us are open to obeying a total stranger. For that reason, we’ll refrain from telling you exactly how much you should spend on non-essential items each month. After all, much of it depends on your personal financial situation, the cost of living in your area, and your financial goals.

What we’d like to do instead is introduce you to a budgeting method that clearly spells out how much it’s safe to spend on the things you want rather than need. Take a look and see if it feels like a good fit for you.

The 50/30/20 rule

In 2025, U.S. Sen. Elizabeth Warren and her daughter, Amelia Warren Tyagi, wrote a book called All Your Worth: The Ultimate Lifetime Money Plan. It makes sense that the two decided to collaborate on such a book. Tyagi has an MBA from the Wharton School at the University of Pennsylvania and Warren has long advocated for financial independence.

It’s not quite clear if the two actually came up with this rule or if they simply helped popularize it. In either case, the 50/30/20 rule can simplify your financial life.

How it works

The 50/30/20 rule is all about balancing your needs, wants, and savings goals. It begins by dividing your after-tax income into three categories:

50% goes toward needs30% goes toward wants20% goes toward savings or paying off debt

A real world example

Jesse brings home $5,000 per month. By using the 50/30/20 rule, their budget would look like this:

$2,500 (50%) would be dedicated to paying rent, a car payment, credit card, and all other monthly obligations.$1,500 (30%) would be spent on “wants,” like going out with friends, buying clothes, and donating to their local ASPCA. In other words, they could use this money as they see fit.$1,000 (20%) would be earmarked for paying off existing debts and saving.

Because Jesse doesn’t have enough money in their emergency savings account, they decide to split the $1,000 in half and put $500 per month into savings and $500 per month (on top of the monthly payment they’re already making) toward paying off debt.

Your mileage may vary

Let’s say you’re carrying high-interest debt and want to get rid of it as soon as possible. For you, taking money from the “wants” category makes sense. So, if like Jesse, you’re bringing home $5,000 a month, you might only use $1,000 for non-essential expenses and dedicate the remaining $500 to paying your debt down at a faster clip.

On the other hand, let’s say you’re someone who carries little to no debt, lives in an area with a low cost of living, and is maxing out your retirement account at work. Tweaking the percentages to better match your circumstances can help you stay on track.

It’s not etched in stone

One important thing to remember about the 50/30/20 rule is that it’s not etched in stone. What works perfectly for one person may not be quite right for another. The beauty of such a simple budgeting system is the way it provides you with consistent direction for your money.

Begin by breaking your budget down into needs, wants, and savings and/or paying off debt. Even if your percentages end up being 60/20/20 or 40/30/30, the rule helps you set goals and stick with them in the simplest way possible.

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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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These TikTok accounts can help you score the best deals and pay less at Target. 

Social media can be an excellent place to go if you’re looking for tips and tricks to save more money. Many TikTok creators share their favorite cost-effective shopping hacks on the popular video-based app. If you’re a loyal Target shopper, you may be looking for ways to keep your spending in check. If so, you came to the right place. Keep reading to find out which TikTok accounts Target shoppers will find helpful.

The seven best TikTok accounts for Target shoppers

Check out the below TikTok accounts for all kinds of Target shopping inspiration and ways to save.

1. Savingwithshayna

Shayna is an extreme couponer and deal-finding pro. Her videos highlight discounts you won’t want to miss. Target loyalists will appreciate her videos featuring the store’s latest bargains and her favorite ways to maximize her total savings by using other money-saving tools. Her shopping secrets help her followers keep more money in their checking accounts.

2. Karlasavings

Karla is another coupon fanatic. Her TikTok account is full of videos that tell you how to save money at your favorite stores, including Target. Karla showcases the best buys and then explains the step-by-step process of using virtual coupons to get an even better deal. Her videos may make it easier to stay on budget as you shop with your favorite retailer.

3. Amber.coupons

Amber helps her followers stretch their money further with digital coupons. Through her videos, Amber explains how to use the Target mobile app to clip offers that can significantly reduce your bill. She also shares her favorite Target buys of the week, so you know what items to add to your shopping list.

4. Citycoupondmom

Rosie is another creator sharing affordable Target buys, and other frugal finds you can shop at popular stores. She’s a mom who uses coupons to reduce her spending. Check out her videos if you want to learn how to use coupons to pay less at Target. With more than 1 million followers, it’s clear that TikTok users find her content valuable.

5. Shoppingwithcelestina

Celestina also shares her favorite shopping hacks with her TikTok audience. She looks for affordable finds at popular retailers like Marshall’s, Target, and Walmart. Her videos call out the best deals that offer the most value, so you don’t overspend beyond your means.

6. SavingWithDan

SavingWithDan is another TikTok account that’s perfect for Target fans. Why pay full price if you don’t have to? Dan doesn’t believe in paying full price and shows you how to avoid it. While his videos highlight ways to save money at many popular retailers, much of his content focuses on the best Target finds. He also explains how to get products for free or nearly free by clipping Target offers along with using other coupon apps to save big.

7. Supersavingsmama

You don’t want to miss Supersavingsmama’s TikTok content. This account is run by a mom who loves to share savings opportunities with other busy moms on a budget. She shows her followers how to get discounts at places like Target, Walgreens, and CVS. Don’t miss her Target shopping videos if you want to load up on essentials without going into debt.

Target is a great place to shop, but it can be easy to walk off with a costly bill if you’re not careful. Don’t risk going into credit card debt while loading up your cart. These TikTok accounts can help you discover the best deals, so you spend less money on your next Target haul. By maximizing your savings, you may be able to reach your personal finance goals sooner.

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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 Target and Walmart. The Motley Fool has a disclosure policy.

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Why do anything that makes you feel bad about yourself? 

I’d like to offer a quick confession: I do not make New Year’s resolutions. In fact, I’m so put off by the custom that I recently researched who I have to blame for the ridiculous ritual. History.com tells me it’s the Babylonians. Some 4,000 years ago, our misguided Mesopotamian friends began the tradition of making resolutions at the beginning of each new year. I’m sure the Babylonians were lovely people, but I have a bone to pick with whichever one of them came up with the hare-brained idea. Here are three well-considered reasons why.

1. Resolutions ultimately make us feel like a failure

How often have you lived up to your New Year’s resolution? Me either. Had I done what I resolved to do I would have the body of a triathlete, speak four languages, work with orphans, and never roll my eyes at the things that come out of my husband’s mouth.

There was a time in my life when I believed that holding myself to a ridiculous standard was productive. It was not.

Time has taught me to be kinder to myself, to forgive my foibles, and to appreciate the mistakes simply because I learned from them. To set myself up for failure on New Year’s Eve is unnecessarily cruel.

2. Resolutions tend to be short term

Short-term goals are great if I’m planning a vacation or birthday party. It’s also fine if I’m organizing my weekly work schedule. As far as the rest of life is concerned, it’s about considering the future.

After all, you don’t fall in love with someone and ask yourself if you can imagine being with that person in six weeks. If you’re serious about a relationship, you attempt to determine how you might feel about them in 10 or 20 years.

That short-term stuff is for suckers.

If I focused on short-term resolutions and goals, I would spend far too much time fiddling with our investments. I can picture myself obsessively looking for better places to save and invest money, and making expensive mistakes along the way. Like most good things in life, managing finances is about looking decades into the future rather than days, weeks, or months.

3. Picking one day to make a resolution is illogical

My husband and I are occasionally asked how we’ve managed to stay together for so long. The answer is always the same. We haven’t been married to the same person all these years. We essentially meet a new version of ourselves every few years. Our outlook on everything, from finances to politics, has been molded and remolded by time and experience. The same is true of everyone.

How does someone make a resolution on a specific day each year when they don’t know how they’ll feel about that resolution in six or eight months? It’s both futile and unrealistic.

As Mr. Spock might say, it’s “highly illogical.”

The takeaway

I recognize that New Year’s resolutions are a ridiculous thing to get worked up over. I think what bothers me is that we’re already too hard on ourselves. If we want to set goals, we might also want to give ourselves permission to tweak those goals as needed.

Let’s say you want to pay off credit card debt this year and you’re resolved to get it done. One month into your debt payoff, your car transmission sounds as though it’s become home to an alien lifeforce and clearly needs repairs. If paying to repair the car knocks you off schedule, it doesn’t mean you failed. It just means that you need to tweak the original goal a bit.

As for the Babylonians, they weren’t all bad. Aside from being home to the Hanging Gardens, one of the Seven Wonders of the Ancient World, those Babylonians were downright progressive when it came to women’s rights, giving women the right to own property and hold official positions in society.

Their relatively enlightened treatment of women is almost enough for me to forgive them for the whole New Year’s resolution thing.

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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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There are many ways to interpret “free.” 

In my opinion, the free trial is the best concept to come out of the massive machine that is retail marketing. You get to actually experience the thing you’re thinking of buying — without any nasty effects on your finances.

But not all free trials are created equal.

At the top of the free trial food chain are those that are actually 100% free. No credit card required. Then there’s the free trial* — fine print included. These typically require you to put in your payment information, but you aren’t charged until the free trial ends. Finally, you have the “free” trial. Not so much a free trial as it is a flexible return policy.

That last one is what Costco offers.

Cancel your membership at any time

There’s no real free trial for a Costco membership. They don’t typically offer guest passes or other temporary options for testing the proverbial waters.

Instead, Costco offers a fairly generous return policy on their membership purchases. Basically, any time you want to cancel your membership, you can — and you can do so for a full refund.

Here’s what it says on Costco’s site: “We are committed to providing quality and value on the products we sell with a risk-free 100% satisfaction guarantee on both your membership and merchandise.”

And also: “We will cancel and refund your membership fee at any time if you are dissatisfied.”

What all this breaks down to is that you can join Costco, do some shopping, decide it isn’t for you, and cancel the membership for a full refund. You could even give it a shot for a few months to make extra sure it isn’t working out.

If you’re positive a Costco membership isn’t for you, there are two ways to cancel:

Speak to a customer service member at your local warehouseCall the customer service line at: 1-800-774-2678

For folks near a Costco location, heading in to cancel will be your simplest solution. The phone option tends to have a bit of a wait according to reports.

Some things don’t require joining

Depending on your Costco needs, you may not have to join at all, refundable membership or not. There are a number of ways to shop Costco without a membership, to varying degrees of effectiveness.

For one thing, if you’re shopping Costco online, many items don’t require a membership to order. You can simply create an online account at Costco.com, add items to your cart, and check out. (Don’t forget your Visa credit card, since Costco doesn’t accept other card networks!)

The downside to this workaround is that there are just as many — if not more — items that require a membership to order as those that don’t. For some items, you won’t even be able to see the advertised price without a membership. Plus, you’ll be stuck with a 5% upcharge for not being a member.

Another option is to pick up a Costco gift card (they call them Cash Cards). This will give you access to the store where you can shop as if you’re a card-carrying member. The caveat? Only members can buy the Cash Cards, so you’ll need a friend with a membership (or an eBay workaround).

Of course, if you have a friend with a membership, the simplest solution may be to tag along with them. You won’t be able to make purchases yourself — only the person with the membership can technically check out — but you can add a few important items to the cart and pay your friend back after the fact.

Is Costco right for you?

Sure, you can find a lot of deals at Costco. But not everyone has the need — or storage space — to buy in bulk. If you’re not sure whether you’ll really get your money’s worth out of a Costco membership, however, you can use this trick to give it a try. The only thing on the hook is the time it may take to cancel your membership.

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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.Brittney Myers has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale and Visa. The Motley Fool has a disclosure policy.

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Before buying a condo, you may want to check out this advice. 

If you are thinking about buying a property, you have a few options. Many people opt for single-family homes, which means they own the building they live in and the land around it. But others may choose condos instead.

Condos or condominiums allow you to own a unit within a shared building. You own the unit you live in, but ownership of the building it is in, the grounds, and the common areas are all shared. Typically, you pay dues for the maintenance and upkeep of the shared building while you get a mortgage to buy the unit that you call your own.

Owning a condo can be different from owning a single-family home, and there are some advantages and disadvantages to this type of property. Finance expert Dave Ramsey explained these pros and cons for those deciding whether a condo is right for them or not. Here’s what Ramsey had to say, along with some advice on whether you should listen to the guru’s opinion.

Ramsey says these are the biggest benefits of owning a condo

According to Ramsey, the biggest benefits of buying a condo include:

The opportunity to own your unit outright and rent it out if you’d like toThe lower costs of purchasing a condo compared to a single family homeThe reduced maintenanceThe fact that condos are often located in urban locations where you have close proximity to amenities

“You can actually pay off your condo and own it outright. That means no more monthly mortgage payments,” Ramsey explained.

While these can be advantages, there are some caveats. First, while you can pay off the unit and own it, you’re only going to own your own unit. There are always going to be ongoing costs associated with the shared space that you have to keep paying to the condo board or condo managers. In some cases, these costs can be much higher than the ongoing maintenance expenses you’d have if you just owned your own house — especially if your condo offers lots of amenities.

Condos also are not always cheaper because, as Ramsey said, they tend to be in urban areas where the cost of living is higher. You may be able to get a single-family home for less than a condo if condos are only available in urban centers near where you live while single-family homes can be found on the outskirts where property in general is more affordable.

Ramsey says these are the biggest cons of condo ownership

As for the downsides of owning a condo, Ramsey cites:

The lack of privacy due to shared common areasOngoing maintenance feesLimited location optionsThe fact that condos cost more than apartments

“An HOA means more money out of your pocket and more people in your business. You’ll always have those fees and rules hanging over your head — even after you pay off your condo.”

These are definitely accurate cons, especially Ramsey’s concerns about ongoing HOA fees. But while a condo is more expensive than an apartment, this isn’t necessarily a big con since your money is going to acquiring home equity as well as providing a place to live. Rent for an apartment, meanwhile, just goes to covering housing costs without you ever owning an asset.

Still, Ramsey is mostly right about the pros and cons of condo ownership. It’s worth listening to his advice when trying to decide if a condo is the right housing situation for you.

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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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