The reason to wait on collecting benefits may be bigger than you think. Andrii Zastrozhnov / Shutterstock.com
Most of us count down the days, months, and even years in anticipation of starting Social Security. In fact, besides qualifying for Medicare, perhaps the retirement event many most look forward to is the day we can start receiving these benefits. These song lyrics come to mind: However, retirees today may be relying too heavily on Social Security and starting the benefit too soon.
Jump on these opportunities while you have the chance. FOTOGRIN / Shutterstock.com
Recently rumors began circulating that Portugal would bring back its non-habitual resident (NHR) tax regime. Launched in 2009, the NHR gave tax breaks to people who became tax residents of Portugal. In short, you could enjoy a lower income tax for certain jobs and receive much of your foreign income tax-free for up to 10 years if you qualified. This made Portugal even more attractive to expats…
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Many retailers, including Costco, have mobile apps you can use to make your shopping experience better. If you’re a Costco member and have yet to download the Costco mobile app, now is an excellent time to try it. There are some great features you may not know exist. This free tool could help you save more on your next Costco haul.
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.
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Could you benefit from using the retailer’s app? Probably. Here are a few lesser-known perks of the Costco shopping app.
Have you ever arrived at the Costco parking lot only to realize you forgot your membership card? Well, you don’t have to worry about such a scenario anymore.
Once you login to the Costco shopping app and verify your membership details, you can access a digital version of your membership card. The scannable barcode can be used for warehouse club entry at checkout. This perk makes for a stress-free shopping experience.
Want to earn top-notch rewards while shopping? Use a rewards credit card to pay for your purchases. Click here to review our curated list of top credit cards that offer big rewards at Costco.
If you have Costco’s cobranded credit card, you can verify your card details within the Costco mobile app. Once you do this, your credit card will be linked to your Costco digital membership card and it can be used to pay for in-club purchases in the U.S. and Puerto Rico. All you have to do is scan your digital membership card barcode. This feature can help you quickly breeze through checkout after a busy shopping trip.
Did you know you can review your receipts for past purchases in the Costco mobile app? You can review order details for online and warehouse club purchases. This is a great way to keep track of your spending throughout the year. This feature also makes it easier to look back at previous items you’ve bought when drafting your Costco shopping list.
This mobile app feature also makes it easy to make a return. If you didn’t know, Costco has a fantastic return policy. Most items can be returned at any time for a full refund. Select items, like electronics and appliances must be returned within a set timeframe to be eligible for a refund. But this policy can give you more confidence to try new products at your local club.
Eager for more? Click here to read up on our top tip to maximize your savings at Costco.
Retailer mobile apps like the Costco shopping app can help you save more money. You can check to see what’s on sale before you go shopping so you draft a shopping list that fits your budget. When using the Costco mobile app, you can also check gas prices at your local club. Take advantage of free digital tools like this to waste less money. Every dollar you save makes a difference.
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.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
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Although Costco brings to mind large families and bulk buys, there are plenty of households of one and two out there who save money at Costco. Indeed, Costco can offer a ton of savings opportunities for roommates and couples alike.
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!
Here are a few of the ways you can make a Costco membership work well for your household of two.
Costco naturally works well for a household with two adults, as you can have two cards per membership, so long as the other person shares your address. This means you and your spouse or roommate can each get your own card.
This is an important step to take if your other household member ever wants to shop on their own, as you can’t share membership cards. If they don’t have a card with their name on it, they won’t be able to get in at most locations, and they definitely can’t check out, not even at the gas pump.
If you’re not ready to add them to your membership and get their own card — adding someone to your Costco account is a big step! — then they can still come to Costco with you as a guest. However, you’ll need to be the one paying at checkout.
Speaking of paying at checkout, you’re using a rewards credit card, right? Costco only accepts Visa credit cards in store, but you can use Visa or Mastercard online.
Not maximizing your Costco rewards yet? Check out our top cards for Costco to earn up to 3% cash back on your purchases.
If you have a favorite Costco rewards card, you can add your significant other as an authorized user so you can both earn rewards when you shop at Costco. Or, if the card has no annual fee, consider having both you get your own cards so you can get twice the welcome bonuses!
The whole point of bulk buying is that you’re paying less per-unit, but that only works when you can use all of the product you’re buying. In a two-person household, some perishable items may simply not last long enough for you to get your money’s worth.
For example, two adults who only use milk in their coffee probably won’t use two gallons of it before it spoils. Even relatively long-lived goods, like flour and oil, may go bad before you use it if you’re buying it in supersized quantities for the “bargain.”
Stick to buying non-perishable goods, like paper towels and khaki pants, and perishables you know you’ll go through, such as the famous $5 rotisserie chicken.
Pro tip: Two people can easily get several meals out of one Costco chicken. You can have roast chicken on night one, chicken quesadillas on night two, and pulled chicken sandwiches on night three!
Although it’s easy to be blinded by the aisles of bulk, don’t forget that Costco actually has a lot of other services and partner discounts to offer:
Costco Travel: Find deals on flights, hotels, and rental carsCostco Pharmacy: Get low prices on hundreds of prescriptionsCostco Tire: Low-priced tires and serviceCostco Auto: Car-buying portal with member discountsCostco Next: Discount shopping portal with popular brandsHome services: remodel, cabinets, HVAC, and moreHome, auto, and pet insurance discountsBusiness payment processing
While discounts and value varies a lot by service, there are some good deals to be found.
Even for smaller families, a trip to Costco is generally a bit of an event; few of us run to Costco for one or two items — it’s a haul. So why not turn those big trips into something you can both enjoy together?
You can start by sharing a snack in the food court (tablecloth and candles are optional, though I think we’ve all seen those social media posts by now!). Then, browse the aisles on a classic Costco “treasure hunt” as you stock up on all the necessities, chatting about your days, your dreams, and the fun things you’re discovering while you shop.
Pro tip: The real key to a successful long-term relationship is to find the joy in all of the time you spend together, even when — or especially when — that time is spent doing mundane tasks, like shopping for vats of olive oil and pallets of toilet paper. (Source: 15 years and counting!)
As plenty of folks have figured out over the years, you don’t need a huge household for a Costco membership to make sense. Between the long-lasting bulk deals and service discounts, there are a lot of ways to save. Just be sure to factor in your specific needs and shopping habits when considering joining with your household of two.
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.Brittney Myers has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale, Mastercard, and Visa. The Motley Fool recommends the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool has a disclosure policy.
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The credit cards you start off with may not end up being the credit cards you enjoy using forever. You might find a card with a better rewards program, or one that gives you more travel perks than your starter card that has minimal benefits.
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.
You may be inclined to cancel a credit card that’s no longer desirable to use. But here’s why that could end up being a huge mistake.
Your credit score is a number that lenders rely on to decide whether you’re qualified to borrow money, and what rates you’re eligible for. The higher your credit score, the more likely you are to get approved for a loan, and the better an interest rate that’s likely to come with it.
That’s why it’s important to keep your credit score in great shape. But unfortunately, canceling a credit card could lower your credit score.
There are a couple of reasons for this. First, your credit utilization ratio is a big factor that goes into calculating your credit score, and it should ideally be kept at 30% or lower. This means that if your total credit limit is $10,000, you’d ideally want to limit your outstanding balances to $3,000.
If you cancel a credit card, it could raise your credit utilization ratio by lowering the limit you’re working with. For example, owing $3,000 on a $10,000 credit limit is fine for your credit score. Closing a credit card with a $4,000 limit and then owing $3,000 on a total credit limit of $6,000 puts you at 50% utilization, which is definitely not optimal.
The length of your credit history goes into calculating your credit score as well. If you cancel a card you’ve had for many years, it could result in a shorter average age for your open accounts. That, too, could cause your credit score to get dinged.
Canceling a credit card you no longer use could clearly have negative consequences. So the only reason to cancel a credit card is if it’s charging you an expensive annual fee, but you’re also not getting great use out of it.
You may also be okay to cancel a newer credit card with a small credit limit if doing so won’t have much of an impact on your credit utilization or the average age of your credit history. But if there’s no annual fee attached to that card, it’s not a bad idea to keep it open, just in case.
Rather than cancel an older credit card with a generous spending limit, go through your expenses and identify the smallest recurring bill you have, like a streaming service. Then, put that charge on the credit card you’re inclined to cancel and set it to autopay.
Doing so should keep your account in good standing. And you won’t have to worry about that account going dormant and getting canceled on you.
It’s never a bad idea to chase the best credit card offers out there. For example, if you travel a lot, you can click here for a roundup of the top travel reward cards and see if one of these serves your needs.
But don’t rush to cancel a credit card because its rewards program isn’t the best, or because you’ve replaced it with a better card. Finding a way to keep that account active and in good standing could do your credit score a world of good.
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.
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In mid-September, the Federal Reserve made its first interest rate cut of the year. And it then followed that up with a second rate cut in early November.
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Federal funds rate cuts can be good for consumers because they typically lead to cheaper borrowing. But they can also be a bad thing for savers, since they commonly lead to lower interest rates on products like savings accounts and CDs.
In fact, you may have noticed that your savings account is already paying less interest than it was a few months ago. And as the Fed continues to cut rates, you may find that you’re earning less and less on your savings from one month to the next.
But you shouldn’t be so quick to dump your savings account just yet. Here are three reasons to keep pumping money into one, even as rates continue to fall.
You may not be earning the same interest rate on your savings now as you were over the summer. But a lot of savings accounts are still paying 4%, or close to it. That’s not a bad deal considering you’re taking on no risk (provided your bank is FDIC insured and your balance is kept to $250,000 or less).
That said, you shouldn’t settle for any old interest rate on your savings. If you’re not getting anywhere close to 4% right now, shop around for a better deal. You can start by checking out this list of some of the best savings account rates.
It’s important to have money set aside for emergencies at all times. And ideally, your emergency fund should have enough money to cover at least three months of essential expenses, like rent, car payments, and food. This way, if you lose your job, you’ll have a way to cover your bills without having to resort to taking on credit card debt right away.
But the best place to house your emergency fund is none other than a savings account. You can’t invest your emergency fund, because you can’t afford to take the risk of it losing value right when you need it. And you can’t safely put your emergency fund into a CD because you need access to that money at all times, and CDs commonly charge a penalty for early withdrawals.
That pretty much narrows down your choices to a savings account or a checking account. And why limit yourself to a checking account that either won’t pay you interest, or won’t pay you a lot of it, when you can earn more money in a savings account?
Your emergency fund is money you shouldn’t touch unless a specific situation warrants it, like the loss of your job or an unplanned home or car repair that your regular paycheck can’t cover. But if you have money in your savings account beyond what you need for your emergency fund, then you deserve to be able to withdraw it whenever you want.
If you put that money into a CD, you risk an early withdrawal penalty. And if you decide to invest your money in a brokerage account, what might happen is that you end up wanting or needing money at a time when your portfolio is down, forcing you to lock in a loss.
The nice thing about a savings account is that you get flexibility. Want to take out $200 to go to a last-minute concert? Go for it. Want to withdraw $1,000 to join your friends on vacation? If you worked hard to save that money, you should be able to access it without stress. And a savings account allows for that more so than a CD or brokerage account.
It’s a bummer to see savings accounts start to pay less and less interest. But that’s no reason to stop putting money into one, or to pull your money out of one.
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.
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