Money Management

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An emergency fund can provide peace of mind that comes with knowing you’ll be OK if something unforeseen arises, but it can also generate significant interest income. Experts generally suggest that you should keep six months’ worth of expenses in a readily accessible place. And an interest rate of 4% or more applied to this money can put hundreds of dollars of extra money in your pockets each 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. However, that doesn’t mean you should simply find the highest-paying savings account and put your emergency savings there. In addition to looking at interest rates, you need to consider other crucial factors before deciding where to keep your emergency fund.Are you looking to maximize your emergency fund? Click here for our list of the top high-yield savings accounts right now.Choosing the best savings account for youThere are several factors to consider when deciding on the right savings account for your emergency fund. Some are obvious, some are not:Annual percentage yield (APY)All things being equal, a higher interest rate is better than a lower one. Even after the Fed’s rate cuts in 2024, it’s still possible to find a high-yield savings account from a reputable bank that offers an APY of 4% or more. Keep in mind that savings interest rates are variable and can change without notice.FeesOnline savings accounts don’t generally have monthly maintenance fees. But it’s still important to take a look at things like wire transfer fees and any other costs.ConvenienceThis is a big one to keep in mind, especially when it comes to emergency funds. One of the central ideas of keeping money in an emergency fund is that it will be easily accessible when you need it. Some of the top savings accounts have great APYs but limited ways to get money in or out of the account. Others offer things like linked debit cards, app-based money transfers, and more. Some banks are online-focused but do have some physical branches.TechnologyA good banking app can make managing and monitoring your emergency fund easier. It can make depositing and transferring money a breeze, and many banks even have app-based customer service available. On the other hand, a clunky app or website can add to your stress if an emergency arises.It’s also worth noting that money market accounts could be worth a closer look. Some of the top money market accounts offer APYs on par with the top high-yield savings accounts. However, many have extra convenience benefits such as check-writing privileges that could come in handy if you need to quickly cover an unexpected expense.The bottom lineThere’s no high-yield savings account (at least not on our top accounts list) that would necessarily be a bad place for an emergency fund. But the right account can offer a combination of a high interest rate, convenience, and a user-friendly banking interface.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”:”

An emergency fund can provide peace of mind that comes with knowing you’ll be OK if something unforeseen arises, but it can also generate significant interest income. Experts generally suggest that you should keep six months’ worth of expenses in a readily accessible place. And an interest rate of 4% or more applied to this money can put hundreds of dollars of extra money in your pockets each 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.

However, that doesn’t mean you should simply find the highest-paying savings account and put your emergency savings there. In addition to looking at interest rates, you need to consider other crucial factors before deciding where to keep your emergency fund.

Are you looking to maximize your emergency fund? Click here for our list of the top high-yield savings accounts right now.

Choosing the best savings account for you

There are several factors to consider when deciding on the right savings account for your emergency fund. Some are obvious, some are not:

Annual percentage yield (APY)

All things being equal, a higher interest rate is better than a lower one. Even after the Fed’s rate cuts in 2024, it’s still possible to find a high-yield savings account from a reputable bank that offers an APY of 4% or more. Keep in mind that savings interest rates are variable and can change without notice.

Fees

Online savings accounts don’t generally have monthly maintenance fees. But it’s still important to take a look at things like wire transfer fees and any other costs.

Convenience

This is a big one to keep in mind, especially when it comes to emergency funds. One of the central ideas of keeping money in an emergency fund is that it will be easily accessible when you need it. Some of the top savings accounts have great APYs but limited ways to get money in or out of the account. Others offer things like linked debit cards, app-based money transfers, and more. Some banks are online-focused but do have some physical branches.

Technology

A good banking app can make managing and monitoring your emergency fund easier. It can make depositing and transferring money a breeze, and many banks even have app-based customer service available. On the other hand, a clunky app or website can add to your stress if an emergency arises.

It’s also worth noting that money market accounts could be worth a closer look. Some of the top money market accounts offer APYs on par with the top high-yield savings accounts. However, many have extra convenience benefits such as check-writing privileges that could come in handy if you need to quickly cover an unexpected expense.

The bottom line

There’s no high-yield savings account (at least not on our top accounts list) that would necessarily be a bad place for an emergency fund. But the right account can offer a combination of a high interest rate, convenience, and a user-friendly banking interface.

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: Getty Images
The gender pay gap is an unfair fact of life in America’s workplace, and getting paid less than men causes far-reaching consequences in many women’s lives. When women get paid less, they have less money to invest for retirement or spend on everyday necessities. Lower-paid women might even miss out on lifesaving healthcare.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. Let’s look at a few stark facts about why women need healthcare money — sometimes even more than men — and how people of all genders can improve their financial stability with health savings accounts (HSAs).Why women skip healthcare more than menA recent study from Deloitte, the 2024 Deloitte Health Care Consumer Survey, found that 50% of women skipped or avoided getting healthcare last year, compared to 37% of men. It’s not good for anyone to skip healthcare, but women seem more likely to do it because of costs.The Deloitte study found:Women are 31% more likely than men to skip healthcare because of concerns about costs.21% of women decided not to see a doctor at some time last year because the cost was too high — up from 15% in 2015.44% of women (and 25% of men) said they are “not prepared” or “slightly prepared” to pay $500 for an unexpected medical emergency. These percentages are up from 37% of women and 19% of men two years ago.One good way for women (or men) to set aside some extra cash for medical expenses is to use a health savings account. If you have a qualifying high-deductible health plan (HDHP), you can set up an HSA and sock away extra money for healthcare costs.Want to find a health savings account provider? Check with your employer — but also get familiar with our list of the best brokerages. Some of these top-rated investment firms also offer health savings accounts. For example, Fidelity offers an HSA, and Charles Schwab offers brokerage account services for some HSA providers.Why now is the best time to open a health savings accountRight now is open enrollment for health insurance. You’re probably receiving communication at work about how now is the time to choose a new health plan for 2025. This is the perfect time to open an HSA. Here’s how:Choose a high-deductible health plan that qualifies for a health savings account. This is also called an “HSA-eligible plan.”Choose a health savings account provider to host your HSA. Sometimes your employer’s benefits program will have a preferred provider, but you can often choose your own HSA plan. Fidelity and Bank of America are two major national financial institutions that offer HSAs.Decide how much money to contribute to your HSA. If you’re covered by a high-deductible health plan and eligible to use the HSA for the entirety of 2025, you can put up to $4,300 (for self-only coverage) or $8,500 (for family coverage) into a HSA in 2025. And that money is all tax deductible!It’s not too late to choose an HSA-eligible health insurance plan and open an HSA for 2025. But you need to take some time to review your options for your employee benefits at work, if you have them. Or if you get health insurance through HealthCare.gov, keep in mind that the deadline is Dec. 15, 2024 to enroll for coverage starting on Jan. 1, 2025.Why women need long-term growth of HSA moneyHSAs are not the only way to pay for medical bills. You could also use a high-yield savings account, or as a last resort, consider medical credit cards to finance your healthcare expenses. But HSAs let you plan ahead and the money you save is tax-advantaged. And you can invest the money in your HSA for long-term growth, just like an IRA or brokerage account.Here are a few reasons why HSAs can be an especially good deal for women.Women tend to need more healthcare than menFidelity research shows that an average 65-year-old retiree will need $165,000 of savings to cover out-of-pocket healthcare expenses in retirement. Deloitte’s survey also found that women need 9.9% more healthcare than men (even excluding maternity care for women who become pregnant). So if you assume that women need about 10% more healthcare in retirement, that means (based on the Fidelity figure) women might need an extra $16,500 to cover their medical expenses.Women tend to live longer than menAlong with saving and investing for healthcare costs, women should think about using HSAs to invest for a longer life in retirement. According to CDC data, women live about 5.4 years longer than men. That means women need more money to pay the bills during those extra years of life. Health savings accounts can help with this. You can invest your HSA money for retirement, just like an extra IRA account, and the money can be withdrawn tax free after age 65.Women are better at investing than menWomen tend to get paid less than men, but they partially make up for this unfair gap by being steadier, more disciplined, more skillful investors. Motley Fool research shows that women tend to outperform men as investors by about 1% per year. This is another reason for women to open an HSA and invest your HSA dollars — you have the potential to achieve bigger long-term investment growth.Bottom lineWomen face a few unfair disadvantages at work and in America’s healthcare system. Health savings accounts can help bridge these gaps. During open enrollment, don’t miss your chance to choose an HSA-eligible health insurance plan, and start saving for your future medical bills with tax-deductible dollars.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.Bank of America is an advertising partner of Motley Fool Money. Charles Schwab is an advertising partner of Motley Fool Money. The Motley Fool has positions in and recommends Bank of America. The Motley Fool recommends Charles Schwab and recommends the following options: short December 2024 $67.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

The gender pay gap is an unfair fact of life in America’s workplace, and getting paid less than men causes far-reaching consequences in many women’s lives. When women get paid less, they have less money to invest for retirement or spend on everyday necessities. Lower-paid women might even miss out on lifesaving healthcare.

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.

Let’s look at a few stark facts about why women need healthcare money — sometimes even more than men — and how people of all genders can improve their financial stability with health savings accounts (HSAs).

Why women skip healthcare more than men

A recent study from Deloitte, the 2024 Deloitte Health Care Consumer Survey, found that 50% of women skipped or avoided getting healthcare last year, compared to 37% of men. It’s not good for anyone to skip healthcare, but women seem more likely to do it because of costs.

The Deloitte study found:

Women are 31% more likely than men to skip healthcare because of concerns about costs.21% of women decided not to see a doctor at some time last year because the cost was too high — up from 15% in 2015.44% of women (and 25% of men) said they are “not prepared” or “slightly prepared” to pay $500 for an unexpected medical emergency. These percentages are up from 37% of women and 19% of men two years ago.

One good way for women (or men) to set aside some extra cash for medical expenses is to use a health savings account. If you have a qualifying high-deductible health plan (HDHP), you can set up an HSA and sock away extra money for healthcare costs.

Want to find a health savings account provider? Check with your employer — but also get familiar with our list of the best brokerages. Some of these top-rated investment firms also offer health savings accounts. For example, Fidelity offers an HSA, and Charles Schwab offers brokerage account services for some HSA providers.

Why now is the best time to open a health savings account

Right now is open enrollment for health insurance. You’re probably receiving communication at work about how now is the time to choose a new health plan for 2025. This is the perfect time to open an HSA. Here’s how:

Choose a high-deductible health plan that qualifies for a health savings account. This is also called an “HSA-eligible plan.”Choose a health savings account provider to host your HSA. Sometimes your employer’s benefits program will have a preferred provider, but you can often choose your own HSA plan. Fidelity and Bank of America are two major national financial institutions that offer HSAs.Decide how much money to contribute to your HSA. If you’re covered by a high-deductible health plan and eligible to use the HSA for the entirety of 2025, you can put up to $4,300 (for self-only coverage) or $8,500 (for family coverage) into a HSA in 2025. And that money is all tax deductible!

It’s not too late to choose an HSA-eligible health insurance plan and open an HSA for 2025. But you need to take some time to review your options for your employee benefits at work, if you have them. Or if you get health insurance through HealthCare.gov, keep in mind that the deadline is Dec. 15, 2024 to enroll for coverage starting on Jan. 1, 2025.

Why women need long-term growth of HSA money

HSAs are not the only way to pay for medical bills. You could also use a high-yield savings account, or as a last resort, consider medical credit cards to finance your healthcare expenses. But HSAs let you plan ahead and the money you save is tax-advantaged. And you can invest the money in your HSA for long-term growth, just like an IRA or brokerage account.

Here are a few reasons why HSAs can be an especially good deal for women.

Women tend to need more healthcare than men

Fidelity research shows that an average 65-year-old retiree will need $165,000 of savings to cover out-of-pocket healthcare expenses in retirement. Deloitte’s survey also found that women need 9.9% more healthcare than men (even excluding maternity care for women who become pregnant). So if you assume that women need about 10% more healthcare in retirement, that means (based on the Fidelity figure) women might need an extra $16,500 to cover their medical expenses.

Women tend to live longer than men

Along with saving and investing for healthcare costs, women should think about using HSAs to invest for a longer life in retirement. According to CDC data, women live about 5.4 years longer than men. That means women need more money to pay the bills during those extra years of life. Health savings accounts can help with this. You can invest your HSA money for retirement, just like an extra IRA account, and the money can be withdrawn tax free after age 65.

Women are better at investing than men

Women tend to get paid less than men, but they partially make up for this unfair gap by being steadier, more disciplined, more skillful investors. Motley Fool research shows that women tend to outperform men as investors by about 1% per year. This is another reason for women to open an HSA and invest your HSA dollars — you have the potential to achieve bigger long-term investment growth.

Bottom line

Women face a few unfair disadvantages at work and in America’s healthcare system. Health savings accounts can help bridge these gaps. During open enrollment, don’t miss your chance to choose an HSA-eligible health insurance plan, and start saving for your future medical bills with tax-deductible dollars.

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.Bank of America is an advertising partner of Motley Fool Money. Charles Schwab is an advertising partner of Motley Fool Money. The Motley Fool has positions in and recommends Bank of America. The Motley Fool recommends Charles Schwab and recommends the following options: short December 2024 $67.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.

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Wondering how your savings stack up? The Federal Reserve’s data on savings accounts reveals that the average American household has around $62,410 in various transaction accounts, including checking, savings, and prepaid cards.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. But this number is just an average, meaning it can be skewed by households with especially high or low balances. The real picture varies widely based on factors like age, household size, education level, and even homeownership. Here’s how the numbers break down — and how you can take steps to boost your own savings.Ready to grow your savings with ease? Click here to explore our list of the best high-yield savings accounts with APYs of 4.00% and higher.How savings vary by ageAge can significantly impact savings balances. Generally, savings increase as people age, peaking for those between 65 and 74 with an average balance of $100,250.This tends to reflect both more years of earning and saving and often fewer expenses tied to big life milestones, such as buying a first home or raising children. However, after age 70, the average savings balance declines, likely as people tap into their savings for retirement.Here’s a quick look at average balances by age:Under 35: $20,54035 to 44: $41,54045 to 54: $71,13055 to 64: $72,52065 to 74: $100,25075 or older: $82,800Household size and savingsHousehold size is another factor that can influence savings. Single-parent households under age 55 tend to have the lowest average savings at $16,800, while couples without children typically have the highest balances, averaging $103,140.This pattern reflects the varied financial pressures that different types of households face. For example, single parents often balance savings with the higher costs of raising children, while couples without children may have more disposable income to set aside.Here’s how savings averages vary based on household type:Single, no children (under 55): $19,320Single, no children (over 55): $37,220Single with children: $16,800Couple, no children: $103,140Couple with children: $73,890Education’s influence on savingsThe Federal Reserve data also strongly links education level and savings balance. Individuals with a college degree average $116,010 in savings, compared to $9,130 for those without a high school diploma. Higher education levels often lead to higher-paying jobs, which can make it easier to save.Here’s the breakdown by education level:No high school diploma: $9,130High school diploma: $23,380Some college: $33,410College degree: $116,010The homeownership divideOwning a home is often associated with higher savings. Homeowners have an average savings balance of $85,430, while renters average $16,930. Homeownership can often indicate greater financial stability, and the discipline of saving for a down payment often helps foster savings habits that continue beyond the purchase.Tips to grow your savings balanceIf these average figures leave you feeling as if your savings could use a boost, don’t worry — small steps can help you build a stronger savings cushion over time. Here are some effective strategies to help you get there.Automate your savingsSetting up automatic transfers from your checking account to a dedicated savings account each month is a simple but powerful way to save consistently. Automating these transfers means you’re less likely to spend the money before you’ve had a chance to save it.Choose high-yield accountsConsider moving your savings to a high-yield savings account, which offers a better return on your balance. Even a small bump in interest rates can add up significantly over time, particularly if you’re adding to the balance regularly.Set clear, achievable goalsWhether it’s a three-month emergency fund or saving for a down payment, setting specific savings goals can make a huge difference. Tracking your progress can also motivate you and make the process more rewarding.Review your budget and prioritize savingsReview your monthly budget and find areas where you can trim expenses, even just a little. Whether it’s skipping a few restaurant meals or cutting back on streaming services, redirecting those savings into your account can gradually add up.Need help budgeting? Click here for our picks for the best budgeting apps.Take advantage of employer benefitsIf your employer offers any savings incentives, like matching contributions to a retirement account, be sure to take advantage. Employer matches are essentially free money and can help build long-term savings without impacting your take-home pay.While the average American savings balance might provide a benchmark, focusing on your unique financial situation is essential. Every household’s needs and capacities are different, and your goal should be to create a savings plan that feels achievable and sustainable for you.By setting up consistent saving habits and tracking progress, you can work toward greater financial stability and a cushion that keeps you covered — no matter what life throws your way.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”:”

Wondering how your savings stack up? The Federal Reserve’s data on savings accounts reveals that the average American household has around $62,410 in various transaction accounts, including checking, savings, and prepaid cards.

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.

But this number is just an average, meaning it can be skewed by households with especially high or low balances. The real picture varies widely based on factors like age, household size, education level, and even homeownership. Here’s how the numbers break down — and how you can take steps to boost your own savings.

Ready to grow your savings with ease? Click here to explore our list of the best high-yield savings accounts with APYs of 4.00% and higher.

How savings vary by age

Age can significantly impact savings balances. Generally, savings increase as people age, peaking for those between 65 and 74 with an average balance of $100,250.

This tends to reflect both more years of earning and saving and often fewer expenses tied to big life milestones, such as buying a first home or raising children. However, after age 70, the average savings balance declines, likely as people tap into their savings for retirement.

Here’s a quick look at average balances by age:

Under 35: $20,54035 to 44: $41,54045 to 54: $71,13055 to 64: $72,52065 to 74: $100,25075 or older: $82,800

Household size and savings

Household size is another factor that can influence savings. Single-parent households under age 55 tend to have the lowest average savings at $16,800, while couples without children typically have the highest balances, averaging $103,140.

This pattern reflects the varied financial pressures that different types of households face. For example, single parents often balance savings with the higher costs of raising children, while couples without children may have more disposable income to set aside.

Here’s how savings averages vary based on household type:

Single, no children (under 55): $19,320Single, no children (over 55): $37,220Single with children: $16,800Couple, no children: $103,140Couple with children: $73,890

Education’s influence on savings

The Federal Reserve data also strongly links education level and savings balance. Individuals with a college degree average $116,010 in savings, compared to $9,130 for those without a high school diploma. Higher education levels often lead to higher-paying jobs, which can make it easier to save.

Here’s the breakdown by education level:

No high school diploma: $9,130High school diploma: $23,380Some college: $33,410College degree: $116,010

The homeownership divide

Owning a home is often associated with higher savings. Homeowners have an average savings balance of $85,430, while renters average $16,930. Homeownership can often indicate greater financial stability, and the discipline of saving for a down payment often helps foster savings habits that continue beyond the purchase.

Tips to grow your savings balance

If these average figures leave you feeling as if your savings could use a boost, don’t worry — small steps can help you build a stronger savings cushion over time. Here are some effective strategies to help you get there.

Automate your savings

Setting up automatic transfers from your checking account to a dedicated savings account each month is a simple but powerful way to save consistently. Automating these transfers means you’re less likely to spend the money before you’ve had a chance to save it.

Choose high-yield accounts

Consider moving your savings to a high-yield savings account, which offers a better return on your balance. Even a small bump in interest rates can add up significantly over time, particularly if you’re adding to the balance regularly.

Set clear, achievable goals

Whether it’s a three-month emergency fund or saving for a down payment, setting specific savings goals can make a huge difference. Tracking your progress can also motivate you and make the process more rewarding.

Review your budget and prioritize savings

Review your monthly budget and find areas where you can trim expenses, even just a little. Whether it’s skipping a few restaurant meals or cutting back on streaming services, redirecting those savings into your account can gradually add up.

Need help budgeting? Click here for our picks for the best budgeting apps.

Take advantage of employer benefits

If your employer offers any savings incentives, like matching contributions to a retirement account, be sure to take advantage. Employer matches are essentially free money and can help build long-term savings without impacting your take-home pay.

While the average American savings balance might provide a benchmark, focusing on your unique financial situation is essential. Every household’s needs and capacities are different, and your goal should be to create a savings plan that feels achievable and sustainable for you.

By setting up consistent saving habits and tracking progress, you can work toward greater financial stability and a cushion that keeps you covered — no matter what life throws your way.

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: Upsplash/The Motley Fool
Whether you need clothing, home decor, bedding, or even toys for your kids, you can find what you need at Kohl’s. But that doesn’t mean it’s always the best place for you to buy it.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. The retailer undoubtedly offers great deals on some of its items, especially for those who have a store credit card and take advantage of Kohl’s cash. But even with these ways to save, you’re probably better off buying the following seven things elsewhere.1. ToysIf you’ve been to Kohl’s recently, you may have been eyeing up the toy department to see if it has anything on your kids’ holiday wish lists. But you’re better off checking retailers like Walmart, Amazon, or Target for these items.Toys aren’t Kohl’s main business and stores don’t have a large toy section, so it’s missing a lot of popular toys. More frustrating is the fact that you can’t use Kohl’s coupons on these items.If you decide to buy toys at Kohl’s anyway, you could save a little by using the retailer’s credit card. Or if you want a card that offers broader rewards redemption, consider opening a cash back credit card that offers rewards on all your purchases. Some of them even offer bonus rewards on department store purchases, which may include Kohl’s.2. Name-brand athletic wearKohl’s sells popular athletic name brands, including Nike, Under Armour, and Adidas. But these brands also aren’t coupon-eligible. You may be able to save a little if you buy these items on sale, but you’re probably better off purchasing them from another clothing retailer or even directly from the manufacturers themselves.3. ElectronicsSome of Kohl’s home goods, including its small appliances, are high quality and reasonably priced. But the selection for electronics is more limited. And, you guessed it, you can’t use coupons on these either. Consider shopping for these items online or from a retailer like Best Buy that specializes in electronics.4. Baby and toddler clothingI have bought baby and toddler clothes from Kohl’s before, and while the items I got were cute, I always felt the sting in my savings account when I shopped there. I’ve personally been able to find items from the same brand — Carter’s — cheaper at retailers like Walmart than at Kohl’s. So I try to minimize how often I buy things there now.In addition to Carter’s, Kohl’s offers Jumping Bean clothes. But both of these brands are also absent from Kohl’s coupon-eligible brands list. This is another case where you can probably do better shopping online, at another large retailer, or a store that specializes in baby gear.5. FurnitureKohl’s probably isn’t your first thought anyway when considering where to buy furniture for your home. It does have some pieces though. However, you can get a bigger bang for your buck if you shop at an actual furniture store. If you’re on a budget, consider a retailer like IKEA or even Target to find some great deals.6. ShoesKohl’s has a decent-sized shoe department. But as we’ve already covered, the chain excludes many popular tennis shoe brands, like Nike and Adidas, from its coupon list. There’s no harm in visiting the store to try on shoes and see which you like best. But when it comes time to order, consider going to a shoe store or ordering from an online retailer like Zappos that specializes in shoes.7. Gift wrapYou might be tempted to pick up gift wrap at Kohl’s while you’re making your holiday purchases. It’s definitely more convenient than visiting another retailer to buy wrapping paper and boxes. But it’s probably not your most affordable option. Consider getting these items at Walmart, Target, or another store that sells it cheaper.No matter what you’re buying, it doesn’t hurt to compare prices between a few retailers before deciding where you’d like to buy from. This is especially important if the item you’re looking to buy is a little expensive. It only takes a few minutes and it could save you a lot of money.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”:”

Whether you need clothing, home decor, bedding, or even toys for your kids, you can find what you need at Kohl’s. But that doesn’t mean it’s always the best place for you to buy it.

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.

The retailer undoubtedly offers great deals on some of its items, especially for those who have a store credit card and take advantage of Kohl’s cash. But even with these ways to save, you’re probably better off buying the following seven things elsewhere.

1. Toys

If you’ve been to Kohl’s recently, you may have been eyeing up the toy department to see if it has anything on your kids’ holiday wish lists. But you’re better off checking retailers like Walmart, Amazon, or Target for these items.

Toys aren’t Kohl’s main business and stores don’t have a large toy section, so it’s missing a lot of popular toys. More frustrating is the fact that you can’t use Kohl’s coupons on these items.

If you decide to buy toys at Kohl’s anyway, you could save a little by using the retailer’s credit card. Or if you want a card that offers broader rewards redemption, consider opening a cash back credit card that offers rewards on all your purchases. Some of them even offer bonus rewards on department store purchases, which may include Kohl’s.

2. Name-brand athletic wear

Kohl’s sells popular athletic name brands, including Nike, Under Armour, and Adidas. But these brands also aren’t coupon-eligible. You may be able to save a little if you buy these items on sale, but you’re probably better off purchasing them from another clothing retailer or even directly from the manufacturers themselves.

3. Electronics

Some of Kohl’s home goods, including its small appliances, are high quality and reasonably priced. But the selection for electronics is more limited. And, you guessed it, you can’t use coupons on these either. Consider shopping for these items online or from a retailer like Best Buy that specializes in electronics.

4. Baby and toddler clothing

I have bought baby and toddler clothes from Kohl’s before, and while the items I got were cute, I always felt the sting in my savings account when I shopped there. I’ve personally been able to find items from the same brand — Carter’s — cheaper at retailers like Walmart than at Kohl’s. So I try to minimize how often I buy things there now.

In addition to Carter’s, Kohl’s offers Jumping Bean clothes. But both of these brands are also absent from Kohl’s coupon-eligible brands list. This is another case where you can probably do better shopping online, at another large retailer, or a store that specializes in baby gear.

5. Furniture

Kohl’s probably isn’t your first thought anyway when considering where to buy furniture for your home. It does have some pieces though. However, you can get a bigger bang for your buck if you shop at an actual furniture store. If you’re on a budget, consider a retailer like IKEA or even Target to find some great deals.

6. Shoes

Kohl’s has a decent-sized shoe department. But as we’ve already covered, the chain excludes many popular tennis shoe brands, like Nike and Adidas, from its coupon list. There’s no harm in visiting the store to try on shoes and see which you like best. But when it comes time to order, consider going to a shoe store or ordering from an online retailer like Zappos that specializes in shoes.

7. Gift wrap

You might be tempted to pick up gift wrap at Kohl’s while you’re making your holiday purchases. It’s definitely more convenient than visiting another retailer to buy wrapping paper and boxes. But it’s probably not your most affordable option. Consider getting these items at Walmart, Target, or another store that sells it cheaper.

No matter what you’re buying, it doesn’t hurt to compare prices between a few retailers before deciding where you’d like to buy from. This is especially important if the item you’re looking to buy is a little expensive. It only takes a few minutes and it could save you a lot of money.

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: Getty Images
Costco offers two tiers of membership to choose from. You could pay $65 a year for a basic Gold Star membership, or upgrade to an Executive membership for $130 a year.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!The Executive membership gives you the benefit of 2% cash back on your purchases in exchange for the higher price. But it’s important to make sure you intend to use your membership often enough to recoup the $65 upgrade fee at the very least.If you’re not sure which Costco membership will be right for you in 2025, here are some questions to ask yourself that could help you land on the right decision.1. Is my family growing?It may be just you and a spouse for now. But if you’re expecting a baby in 2025, you may soon find that you’re spending more at Costco on diapers, wipes, and formula.Perhaps you’re in the process of adopting a child. If so, having another mouth to feed could increase your grocery spending, making the case for an Executive membership upgrade.2. Am I moving to a home with more storage?Maybe you’ve shied away from loading up on groceries and household products from Costco in bulk due to a lack of space. But if you’re about to sign a mortgage and close on a bigger home with more storage space, then you may find that you’re able to buy more of your food and essentials in larger quantities for the savings involved. In that case, you’re more likely to get great value out of an Executive membership.3. Am I trying to budget more carefully by cooking more food at home?It’s common to make financial resolutions when a new year arrives. If one of yours is to get onto a budget and reduce your spending, then you may find yourself buying more groceries at Costco.Cooking at home more often vs. ordering food and dining out could be a huge money-saver. And in that case, you may find yourself primed to earn extra cash back on an Executive membership.4. Do I have any big vacations planned?Booking a vacation through Costco could save you money while giving you access to extra perks like resort or dining credits at your destination. If you think you’ll take a big trip in 2025 and potentially book it through Costco, then an Executive membership upgrade could really pay off.It takes $3,250 in annual Costco spending to recoup the $65 cost of the upgrade. Booking a single vacation package might get you to that point easily.5. Will I be upgrading any appliances or electronics?Appliances and electronics don’t last forever. If you think you might get a new fridge or laptop in 2025, and there’s a good chance you’ll buy one from Costco, then getting the Executive membership could truly pay off.A big purchase like that could put extra cash back in your pocket. Plus, when you buy items in these categories from Costco, you get the benefit of a 90-day return policy. Electronics also come with a free second-year warranty and tech support.All told, if you have reason to believe your Costco spending will increase in 2025, then an Executive membership makes sense. But even if you decide to stick with a Gold Star membership, that doesn’t mean cash back at Costco is off the table. If you use the right credit card at the store, you can pocket plenty of rewards.Click here for a list of the best credit cards for Costco shoppers. All of these are worth using whether you stick to a basic membership or upgrade to an Executive membership for 2025.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”:”

Costco offers two tiers of membership to choose from. You could pay $65 a year for a basic Gold Star membership, or upgrade to an Executive membership for $130 a year.

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!

The Executive membership gives you the benefit of 2% cash back on your purchases in exchange for the higher price. But it’s important to make sure you intend to use your membership often enough to recoup the $65 upgrade fee at the very least.

If you’re not sure which Costco membership will be right for you in 2025, here are some questions to ask yourself that could help you land on the right decision.

1. Is my family growing?

It may be just you and a spouse for now. But if you’re expecting a baby in 2025, you may soon find that you’re spending more at Costco on diapers, wipes, and formula.

Perhaps you’re in the process of adopting a child. If so, having another mouth to feed could increase your grocery spending, making the case for an Executive membership upgrade.

2. Am I moving to a home with more storage?

Maybe you’ve shied away from loading up on groceries and household products from Costco in bulk due to a lack of space. But if you’re about to sign a mortgage and close on a bigger home with more storage space, then you may find that you’re able to buy more of your food and essentials in larger quantities for the savings involved. In that case, you’re more likely to get great value out of an Executive membership.

3. Am I trying to budget more carefully by cooking more food at home?

It’s common to make financial resolutions when a new year arrives. If one of yours is to get onto a budget and reduce your spending, then you may find yourself buying more groceries at Costco.

Cooking at home more often vs. ordering food and dining out could be a huge money-saver. And in that case, you may find yourself primed to earn extra cash back on an Executive membership.

4. Do I have any big vacations planned?

Booking a vacation through Costco could save you money while giving you access to extra perks like resort or dining credits at your destination. If you think you’ll take a big trip in 2025 and potentially book it through Costco, then an Executive membership upgrade could really pay off.

It takes $3,250 in annual Costco spending to recoup the $65 cost of the upgrade. Booking a single vacation package might get you to that point easily.

5. Will I be upgrading any appliances or electronics?

Appliances and electronics don’t last forever. If you think you might get a new fridge or laptop in 2025, and there’s a good chance you’ll buy one from Costco, then getting the Executive membership could truly pay off.

A big purchase like that could put extra cash back in your pocket. Plus, when you buy items in these categories from Costco, you get the benefit of a 90-day return policy. Electronics also come with a free second-year warranty and tech support.

All told, if you have reason to believe your Costco spending will increase in 2025, then an Executive membership makes sense. But even if you decide to stick with a Gold Star membership, that doesn’t mean cash back at Costco is off the table. If you use the right credit card at the store, you can pocket plenty of rewards.

Click here for a list of the best credit cards for Costco shoppers. All of these are worth using whether you stick to a basic membership or upgrade to an Executive membership for 2025.

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