Money Management

[[{“value”:”Image source: The Motley Fool/Upsplash
It’s hard to believe that we’ve reached the second half of November. Before you know it, you’ll be opening presents and toasting to the new year.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. At this point, you may have a number of year-end financial tasks to check off your list. And one of the tasks you may be considering is opening a certificate of deposit (CD) before 2024 comes to a close. Here are a few great reasons to do so.1. CD rates are still strongYou may be aware that the Federal Reserve has already cut its benchmark interest rate twice this year, and that more rate cuts are expected in the coming months. But don’t take that to mean that CDs are no longer worth opening.It’s true that the days of 5% CD rates are mostly behind us at this point. But you can still snag a CD in the 4% range, which is a pretty good deal in its own right. For a 12-month CD and a $10,000 deposit, a 4.5% rate puts $450 in your pocket.However, today’s CD rates may not last much longer. As the Fed moves forward with additional rate cuts, CDs are apt to start paying less. So if you have the money to put into a CD, you probably don’t want to wait. Click here for a list of the best CD rates today to find the best one for your money.2. You don’t have such a long savings windowEven though you can find a CD in the 4% range today, you should know that over time, the stock market is likely to reward you more substantially. Over the past 50 years, the S&P 500’s average annual return is 10%, accounting for periods of gains as well as losses.But the key to being successful as a stock investor is to give yourself plenty of time for your portfolio to gain value and to ride out market downturns. If you don’t have such a long window ahead of you because you’re saving for a specific goal, like buying a new car or a house, then a CD is a better bet.With a CD, you’re not taking a risk of losing any of your deposit, provided you limit it to $250,000 and stick to an FDIC-insured bank.Of course, if you’re saving for a goal that’s about seven years away or longer, then it could pay to put your money into a brokerage account and invest it instead. But if you’re short on time to grow your money, a CD is a more appropriate choice.3. You’re retiring in 2025 and want a safe place for your cashIf your financial plans for the new year include leaving your job and kicking off retirement, you may be excited for that final countdown. But in that case, you may also want to hold off on investing money you have available today.Once you retire, you might need that money to pay your expenses since you won’t be earning a paycheck from a job anymore. And in that case, opening a CD is a much safer bet than putting your money into stocks at this stage of the game.To be clear, this doesn’t mean that if you have an IRA loaded with stocks, you should cash all of them out immediately. Rather, you may want to hold off on investing new money in stocks because of the risks involved.At this point, you still have several weeks left to open a CD before the end of 2024. But do know that the longer you wait, the more you might risk losing out on a better rate. So if you’re sure a CD is right for you, it pays to get moving as soon as you can.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. 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.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

It’s hard to believe that we’ve reached the second half of November. Before you know it, you’ll be opening presents and toasting to the new year.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

At this point, you may have a number of year-end financial tasks to check off your list. And one of the tasks you may be considering is opening a certificate of deposit (CD) before 2024 comes to a close. Here are a few great reasons to do so.

1. CD rates are still strong

You may be aware that the Federal Reserve has already cut its benchmark interest rate twice this year, and that more rate cuts are expected in the coming months. But don’t take that to mean that CDs are no longer worth opening.

It’s true that the days of 5% CD rates are mostly behind us at this point. But you can still snag a CD in the 4% range, which is a pretty good deal in its own right. For a 12-month CD and a $10,000 deposit, a 4.5% rate puts $450 in your pocket.

However, today’s CD rates may not last much longer. As the Fed moves forward with additional rate cuts, CDs are apt to start paying less. So if you have the money to put into a CD, you probably don’t want to wait. Click here for a list of the best CD rates today to find the best one for your money.

2. You don’t have such a long savings window

Even though you can find a CD in the 4% range today, you should know that over time, the stock market is likely to reward you more substantially. Over the past 50 years, the S&P 500’s average annual return is 10%, accounting for periods of gains as well as losses.

But the key to being successful as a stock investor is to give yourself plenty of time for your portfolio to gain value and to ride out market downturns. If you don’t have such a long window ahead of you because you’re saving for a specific goal, like buying a new car or a house, then a CD is a better bet.

With a CD, you’re not taking a risk of losing any of your deposit, provided you limit it to $250,000 and stick to an FDIC-insured bank.

Of course, if you’re saving for a goal that’s about seven years away or longer, then it could pay to put your money into a brokerage account and invest it instead. But if you’re short on time to grow your money, a CD is a more appropriate choice.

3. You’re retiring in 2025 and want a safe place for your cash

If your financial plans for the new year include leaving your job and kicking off retirement, you may be excited for that final countdown. But in that case, you may also want to hold off on investing money you have available today.

Once you retire, you might need that money to pay your expenses since you won’t be earning a paycheck from a job anymore. And in that case, opening a CD is a much safer bet than putting your money into stocks at this stage of the game.

To be clear, this doesn’t mean that if you have an IRA loaded with stocks, you should cash all of them out immediately. Rather, you may want to hold off on investing new money in stocks because of the risks involved.

At this point, you still have several weeks left to open a CD before the end of 2024. But do know that the longer you wait, the more you might risk losing out on a better rate. So if you’re sure a CD is right for you, it pays to get moving as soon as you can.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

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.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money 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 

[[{“value”:”Image source: The Motley Fool/Unsplash
If you have multiple people living under your roof, then joining Costco could be a smart financial decision. That’s because Costco’s bulk pricing makes it easy to save money on groceries and household essentials like paper towels and cleaning supplies.Top credit card to use at Costco (and everywhere else!)
We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco. Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.
Click here to read our full review for free and apply before the $200 welcome bonus offer ends!When you live solo, it’s a bit harder to make the case to join Costco. Chances are, buying food in bulk won’t make sense, and you may not need 12 boxes of tissues at a time if you live alone.But that doesn’t mean you should write off the idea of joining Costco. You may find that getting a membership pays off even if it’s just you.Why people who live solo can benefit from CostcoIf you live alone and tend to only cook for yourself, it may not make sense to buy your groceries at Costco. A better bet is probably to stick to buying smaller quantities at a regular supermarket and use a great credit card to earn cash back on your food purchases. Click here for a list of the best credit cards for groceries.But remember, food isn’t the only thing Costco sells. Not even close. And your membership might easily pay off based on the savings you get on other purchases.Non-perishablesFirst, let’s talk about some household essentials. You may not go through cleaning spray and toilet paper as quickly as a family of five. But that doesn’t mean you won’t use up those products eventually. So if you have plenty of storage, buying them at Costco could save you money.GasAlso, Costco happens to offer some of the cheapest gas around — and it’s TOP TIER certified, meaning it’s very high in quality. Let’s say you put 12 gallons of gas in your car each week, and that buying gas at Costco saves you $0.20 per gallon. That’s $2.40 in weekly savings.But when you multiply that by 50 weeks, it comes to $120. Since a Gold Star membership at Costco costs $65, in this example, you come out ahead by $55, even if the only thing you ever buy at Costco is fuel for your car.Big-ticket itemsAlso, remember that Costco offers competitive prices on everything from electronics to apparel to travel packages. These are perks you can take advantage of even if you live alone.Gift cardsFinally, don’t forget Costco’s discounted gift cards. If you’re able to scoop up $100 worth of gift cards to a restaurant you visit often for $75 or $80, and you do that three times during the year, that alone pays for your membership fee.Consider splitting a membership for maximum valueThere are plenty of ways to maximize a Costco membership when you live alone. But you can also split the cost of a membership with a friend or neighbor.Now, the rules technically state that a total of two people can be on the same Costco membership, with one being the primary and the other being a household member over age 16 and living at the same address as you. But even if you only get one membership card issued to you by Costco, you’re allowed to bring up to two adult guests with you to the store.So you could coordinate with someone to visit Costco together once or twice a month, or on whatever schedule works for you, and share the cost of a membership. You may also want to see if it’s possible to split bulk food purchases for added savings.All told, there’s no reason to write off a Costco membership just because you’re a household of one. You may not get the exact same benefit as a larger household, but that doesn’t mean the fee won’t be worth paying.Top credit card to use at Costco (and everywhere else!)
We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco. Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.
Click here to read our full review for free and apply before the $200 welcome bonus offer ends!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.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money 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.”}]] [[{“value”:”

If you have multiple people living under your roof, then joining Costco could be a smart financial decision. That’s because Costco’s bulk pricing makes it easy to save money on groceries and household essentials like paper towels and cleaning supplies.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

When you live solo, it’s a bit harder to make the case to join Costco. Chances are, buying food in bulk won’t make sense, and you may not need 12 boxes of tissues at a time if you live alone.

But that doesn’t mean you should write off the idea of joining Costco. You may find that getting a membership pays off even if it’s just you.

Why people who live solo can benefit from Costco

If you live alone and tend to only cook for yourself, it may not make sense to buy your groceries at Costco. A better bet is probably to stick to buying smaller quantities at a regular supermarket and use a great credit card to earn cash back on your food purchases. Click here for a list of the best credit cards for groceries.

But remember, food isn’t the only thing Costco sells. Not even close. And your membership might easily pay off based on the savings you get on other purchases.

Non-perishables

First, let’s talk about some household essentials. You may not go through cleaning spray and toilet paper as quickly as a family of five. But that doesn’t mean you won’t use up those products eventually. So if you have plenty of storage, buying them at Costco could save you money.

Gas

Also, Costco happens to offer some of the cheapest gas around — and it’s TOP TIER certified, meaning it’s very high in quality. Let’s say you put 12 gallons of gas in your car each week, and that buying gas at Costco saves you $0.20 per gallon. That’s $2.40 in weekly savings.

But when you multiply that by 50 weeks, it comes to $120. Since a Gold Star membership at Costco costs $65, in this example, you come out ahead by $55, even if the only thing you ever buy at Costco is fuel for your car.

Big-ticket items

Also, remember that Costco offers competitive prices on everything from electronics to apparel to travel packages. These are perks you can take advantage of even if you live alone.

Gift cards

Finally, don’t forget Costco’s discounted gift cards. If you’re able to scoop up $100 worth of gift cards to a restaurant you visit often for $75 or $80, and you do that three times during the year, that alone pays for your membership fee.

Consider splitting a membership for maximum value

There are plenty of ways to maximize a Costco membership when you live alone. But you can also split the cost of a membership with a friend or neighbor.

Now, the rules technically state that a total of two people can be on the same Costco membership, with one being the primary and the other being a household member over age 16 and living at the same address as you. But even if you only get one membership card issued to you by Costco, you’re allowed to bring up to two adult guests with you to the store.

So you could coordinate with someone to visit Costco together once or twice a month, or on whatever schedule works for you, and share the cost of a membership. You may also want to see if it’s possible to split bulk food purchases for added savings.

All told, there’s no reason to write off a Costco membership just because you’re a household of one. You may not get the exact same benefit as a larger household, but that doesn’t mean the fee won’t be worth paying.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

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.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money 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.

“}]] Read More