Money Management

[[{“value”:”Image source: Upsplash/The Motley Fool
I grew up thinking credit cards were the financial equivalent of walking a highwire over Niagara Falls…in the rain…without a safety net. Indeed, if you rack up a balance, the interest payments can be costly. In a worst-case scenario, the debt can get out of control and trap you in a state of continual borrowing. 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 just as there are ways to see Niagara Falls without attempting to cross them on a tightrope, you can use credit cards without spiraling into debt. In fact, if you’re booking a trip to the Falls, using a travel credit card has its benefits. Points or miles can lower the cost of your trip, while perks such as insurance and checked bags can help you reach your destination more smoothly.The trick is to pay off your balance every month and only use your card for purchases you can afford. Here are three advantages to using your credit card when you travel.1. You can earn points or miles so you can travel even moreThe best travel credit cards pay excellent rewards when you’re booking travel. It isn’t unusual to find cards that pay 3x or 5x points or miles for travel bookings. If your card pays 3x points on travel, that means you’ll earn 3 points for every $1 you spend in that category. Click here to learn more about travel credit cards and find one that matches your budget and needs.Look for travel credit cards with a lot of flexibility in how you use points or miles. You’ll have more options when you want to book your next trip. Depending on the card, you’ll be able to book through the card’s portal and/or transfer your rewards directly to an airline or hotel chain. Some credit cards also have welcome offers for new customers who spend a certain amount in a set amount of time. In some cases, that bonus can be hefty enough to cover your flights or a few nights in a hotel. If you’re considering opening a new account, it’s worth checking out potential credit card sign-up bonuses.2. Travel credit cards can make every trip easierFrom long lines to hidden airline charges and overpriced coffee, today’s crowded airports can suck a lot of the fun out of travel. The perks that come with certain travel credit cards can ease the way a little, particularly if you travel frequently. For example, some cards give you airport lounge access and free checked bags. Others give statement credits for TSA PreCheck® and Global Entry, which let you skip some of the lines at the airport. Think about what perks you’ll use most when comparing cards.3. You’re protected if things go wrongSadly, things don’t always run smoothly when you’re on a trip. Your flight may be delayed, causing you to miss that all-important connection. Your luggage might get lost or sent to some far-flung corner of the world. You might need medical treatment. The good news is that many travel credit cards have built-in insurance, as long as you use the card to book the flight. It’s worth reading the fine print or talking to your card issuer to find out exactly what’s covered. Some card insurance policies will pay out if you have to cancel your trip or have to cut it short for some reason. You may also have rental car insurance, so you don’t need to take it from the rental company. Lost or delayed baggage insurance will cover the cost of any necessities or replacements. And medical coverage could be a lifeline if you have an accident or need to see a doctor while you’re abroad.Calculate if your card is worth the feeThere are some great reasons to use a travel credit card, but there is one caveat. While there are fee-free options, some cards with super-charged travel perks charge an annual fee. That can be anywhere from $95 to $695. Look at what value you’ll get from the card and try to be realistic about which features you’ll use. For example, you may find that the statement credits alone will more than pay for the fee. Or that the value of certain perks — like free checked bags — plus the extra rewards make the fee worth paying.For many of us, there are great reasons to buy flights and hotels with the right credit card. Not only can the points or miles reduce your travel costs, but the perks and extra insurance can also reduce travel hassle. 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”:”

I grew up thinking credit cards were the financial equivalent of walking a highwire over Niagara Falls…in the rain…without a safety net. Indeed, if you rack up a balance, the interest payments can be costly. In a worst-case scenario, the debt can get out of control and trap you in a state of continual borrowing.

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 just as there are ways to see Niagara Falls without attempting to cross them on a tightrope, you can use credit cards without spiraling into debt. In fact, if you’re booking a trip to the Falls, using a travel credit card has its benefits. Points or miles can lower the cost of your trip, while perks such as insurance and checked bags can help you reach your destination more smoothly.

The trick is to pay off your balance every month and only use your card for purchases you can afford. Here are three advantages to using your credit card when you travel.

1. You can earn points or miles so you can travel even more

The best travel credit cards pay excellent rewards when you’re booking travel. It isn’t unusual to find cards that pay 3x or 5x points or miles for travel bookings. If your card pays 3x points on travel, that means you’ll earn 3 points for every $1 you spend in that category. Click here to learn more about travel credit cards and find one that matches your budget and needs.

Look for travel credit cards with a lot of flexibility in how you use points or miles. You’ll have more options when you want to book your next trip. Depending on the card, you’ll be able to book through the card’s portal and/or transfer your rewards directly to an airline or hotel chain.

Some credit cards also have welcome offers for new customers who spend a certain amount in a set amount of time. In some cases, that bonus can be hefty enough to cover your flights or a few nights in a hotel. If you’re considering opening a new account, it’s worth checking out potential credit card sign-up bonuses.

2. Travel credit cards can make every trip easier

From long lines to hidden airline charges and overpriced coffee, today’s crowded airports can suck a lot of the fun out of travel. The perks that come with certain travel credit cards can ease the way a little, particularly if you travel frequently.

For example, some cards give you airport lounge access and free checked bags. Others give statement credits for TSA PreCheck® and Global Entry, which let you skip some of the lines at the airport. Think about what perks you’ll use most when comparing cards.

3. You’re protected if things go wrong

Sadly, things don’t always run smoothly when you’re on a trip. Your flight may be delayed, causing you to miss that all-important connection. Your luggage might get lost or sent to some far-flung corner of the world. You might need medical treatment.

The good news is that many travel credit cards have built-in insurance, as long as you use the card to book the flight. It’s worth reading the fine print or talking to your card issuer to find out exactly what’s covered.

Some card insurance policies will pay out if you have to cancel your trip or have to cut it short for some reason. You may also have rental car insurance, so you don’t need to take it from the rental company. Lost or delayed baggage insurance will cover the cost of any necessities or replacements. And medical coverage could be a lifeline if you have an accident or need to see a doctor while you’re abroad.

Calculate if your card is worth the fee

There are some great reasons to use a travel credit card, but there is one caveat. While there are fee-free options, some cards with super-charged travel perks charge an annual fee. That can be anywhere from $95 to $695.

Look at what value you’ll get from the card and try to be realistic about which features you’ll use. For example, you may find that the statement credits alone will more than pay for the fee. Or that the value of certain perks — like free checked bags — plus the extra rewards make the fee worth paying.

For many of us, there are great reasons to buy flights and hotels with the right credit card. Not only can the points or miles reduce your travel costs, but the perks and extra insurance can also reduce travel hassle.

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/Upsplash
The tail end of the year is a good time to assess your finances and push yourself to meet goals you may have set back in January.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. If your savings account isn’t quite where it needs to be, the good news is that you still have almost two months to build it up. Here’s how you can set yourself up to close out 2024 with an extra $1,000.1. Cut your spending and bank the differenceChances are, you can cut back on a few expenses between now and the end of the year. It may be possible to dine out a bit less, make your own coffee, or cancel cable if you’ll be too busy with holiday travel and year-end work deadlines to take advantage of it anyway.Now, this doesn’t necessarily mean you’ll be able to save $1,000 just by slashing some spending. But if you can save a few hundred dollars over the next seven weeks or so, it’ll help. Take a look at your spending, and if need be, put yourself on a budget to limit your spending in areas where there’s room to make cuts.Also, make sure you’re earning a nice amount of interest on the money you move into your savings, as that, too, could get you closer to your goal. Click here for a list of the best high-yield savings accounts with competitive APYs.2. Pick up a side hustleNovember and December are a great time of the year to work a side hustle. It’s common for retailers to need more hands on deck during the holiday shopping rush. And if you’re willing to offer some pet care services, you may find that clients are eager to enlist your help during the holidays, when they may be going out of town to celebrate with family and leaving their animals behind out of necessity.If you’re able to earn $100 a week from a side hustle between now and the end of the year, that, coupled with a modest reduction in spending, could help you bank an extra $1,000 before 2025. And you may be able to earn even more money on a weekly basis, depending on the type of work you take on.3. Get a boost from your 401(k) matchIt’s common for companies that sponsor 401(k) plans to match worker contributions to some degree. If your employer offers that benefit and you haven’t contributed enough to your 401(k) to claim your match in full, sneaking extra money into that account could get you to your $1,000 goal.Let’s say your employer will match up to $2,000 in 401(k) contributions per year, but you’re only on track to contribute $1,500 based on the amount you’ve told your payroll department to deduct from your earnings. If you increase your $1,500 contribution to $2,000, you’re putting in an extra $500 — but you’re also getting $500 for free. That’s a pretty easy way to get to $1,000 without having to do all the work yourself.However, it can take time to process a change to your 401(k) contribution rate. Tell your payroll department you want to increase your contribution as soon as possible to avoid missing the year-end cutoff.Closing out the year with an extra $1,000 could do your finances a world of good. Use these tips to meet that goal — and start the new year off on stronger footing.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”:”

The tail end of the year is a good time to assess your finances and push yourself to meet goals you may have set back in January.

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.

If your savings account isn’t quite where it needs to be, the good news is that you still have almost two months to build it up. Here’s how you can set yourself up to close out 2024 with an extra $1,000.

1. Cut your spending and bank the difference

Chances are, you can cut back on a few expenses between now and the end of the year. It may be possible to dine out a bit less, make your own coffee, or cancel cable if you’ll be too busy with holiday travel and year-end work deadlines to take advantage of it anyway.

Now, this doesn’t necessarily mean you’ll be able to save $1,000 just by slashing some spending. But if you can save a few hundred dollars over the next seven weeks or so, it’ll help. Take a look at your spending, and if need be, put yourself on a budget to limit your spending in areas where there’s room to make cuts.

Also, make sure you’re earning a nice amount of interest on the money you move into your savings, as that, too, could get you closer to your goal. Click here for a list of the best high-yield savings accounts with competitive APYs.

2. Pick up a side hustle

November and December are a great time of the year to work a side hustle. It’s common for retailers to need more hands on deck during the holiday shopping rush. And if you’re willing to offer some pet care services, you may find that clients are eager to enlist your help during the holidays, when they may be going out of town to celebrate with family and leaving their animals behind out of necessity.

If you’re able to earn $100 a week from a side hustle between now and the end of the year, that, coupled with a modest reduction in spending, could help you bank an extra $1,000 before 2025. And you may be able to earn even more money on a weekly basis, depending on the type of work you take on.

3. Get a boost from your 401(k) match

It’s common for companies that sponsor 401(k) plans to match worker contributions to some degree. If your employer offers that benefit and you haven’t contributed enough to your 401(k) to claim your match in full, sneaking extra money into that account could get you to your $1,000 goal.

Let’s say your employer will match up to $2,000 in 401(k) contributions per year, but you’re only on track to contribute $1,500 based on the amount you’ve told your payroll department to deduct from your earnings. If you increase your $1,500 contribution to $2,000, you’re putting in an extra $500 — but you’re also getting $500 for free. That’s a pretty easy way to get to $1,000 without having to do all the work yourself.

However, it can take time to process a change to your 401(k) contribution rate. Tell your payroll department you want to increase your contribution as soon as possible to avoid missing the year-end cutoff.

Closing out the year with an extra $1,000 could do your finances a world of good. Use these tips to meet that goal — and start the new year off on stronger footing.

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
More people are picking up side hustles than ever before. According to several different surveys, more than one-third of Americans currently have a side hustle, and many more plan to get one in the future.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. Not only is it nice to have an additional income stream, but there are more opportunities to start a small business or otherwise earn money in your spare time. There are ride-hailing and delivery services that allow you to make money by simply driving or running errands for other people. And there are freelance marketplaces where you can sell your services, such as writing, graphic design, and much more.It might not completely feel like it, but if you have a side hustle (not a second W-2 job), you technically have self-employment income. As a general rule, any type of earned income that is reported on a 1099 form at the end of the year is considered to be from self-employment.And while there are plenty of smart ways to use the additional income you generate from your side hustle(s), there’s one excellent financial tool that’s only available to self-employed workers and small business owners.Self-employed retirement accountsAnyone with earned income can invest for retirement through an individual retirement account, or IRA. However, full-time employees are limited to two account types. There’s the traditional IRA, which can provide a tax deduction for contributions for those who qualify. And there’s the Roth IRA, which can provide tax-free retirement income — but the ability to contribute is restricted for higher-income individuals.If you’re relatively new to the world of self-employment income, you might not be aware that there are special types of IRAs that are only available to self-employed individuals and small business owners and their employees. There’s a SEP-IRA, which stands for “Simplified Employee Pension,” and there’s the SIMPLE IRA, which stands for “Savings Incentive Matching Plan for Employees.”Advantages of self-employed IRAsFirst, there are no income restrictions to be able to take advantage of their tax benefits. Everyone with self-employment income can contribute to a SEP-IRA or SIMPLE IRA and get a tax deduction, and both can be structured as Roth IRAs with no income limitations.Second, the contribution limits are much higher than for traditional and Roth IRAs. With SIMPLE IRAs, self-employed people can contribute as much as $16,000 of their earnings for 2024, with an additional $3,500 catch-up contribution if they’re over age 50, plus another 3% of earnings (up to a certain maximum) as an “employer” contribution.With the SEP-IRA, participants can contribute 25% of their compensation or $69,000 in 2024, whichever is less.For comparison, the contribution limit to a traditional or Roth IRA for the 2024 tax year is $7,000, plus a $1,000 catch-up contribution if you’re 50 or older.SIMPLE IRA and SEP-IRA accounts are available through many top brokers. Click here to see our updated list and determine which could be the best fit for you.Supercharge your financial futureSaving and investing through a tax-advantaged retirement account can be an excellent way to build wealth over time. And that’s especially true of SIMPLE IRA and SEP-IRA accounts, which can allow you to save far more aggressively for retirement than the alternatives.Not only can a self-employed retirement account help secure your financial future, but it can also get you an extremely valuable tax break today.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”:”

More people are picking up side hustles than ever before. According to several different surveys, more than one-third of Americans currently have a side hustle, and many more plan to get one in the future.

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.

Not only is it nice to have an additional income stream, but there are more opportunities to start a small business or otherwise earn money in your spare time. There are ride-hailing and delivery services that allow you to make money by simply driving or running errands for other people. And there are freelance marketplaces where you can sell your services, such as writing, graphic design, and much more.

It might not completely feel like it, but if you have a side hustle (not a second W-2 job), you technically have self-employment income. As a general rule, any type of earned income that is reported on a 1099 form at the end of the year is considered to be from self-employment.

And while there are plenty of smart ways to use the additional income you generate from your side hustle(s), there’s one excellent financial tool that’s only available to self-employed workers and small business owners.

Self-employed retirement accounts

Anyone with earned income can invest for retirement through an individual retirement account, or IRA. However, full-time employees are limited to two account types. There’s the traditional IRA, which can provide a tax deduction for contributions for those who qualify. And there’s the Roth IRA, which can provide tax-free retirement income — but the ability to contribute is restricted for higher-income individuals.

If you’re relatively new to the world of self-employment income, you might not be aware that there are special types of IRAs that are only available to self-employed individuals and small business owners and their employees. There’s a SEP-IRA, which stands for “Simplified Employee Pension,” and there’s the SIMPLE IRA, which stands for “Savings Incentive Matching Plan for Employees.”

Advantages of self-employed IRAs

First, there are no income restrictions to be able to take advantage of their tax benefits. Everyone with self-employment income can contribute to a SEP-IRA or SIMPLE IRA and get a tax deduction, and both can be structured as Roth IRAs with no income limitations.

Second, the contribution limits are much higher than for traditional and Roth IRAs. With SIMPLE IRAs, self-employed people can contribute as much as $16,000 of their earnings for 2024, with an additional $3,500 catch-up contribution if they’re over age 50, plus another 3% of earnings (up to a certain maximum) as an “employer” contribution.

With the SEP-IRA, participants can contribute 25% of their compensation or $69,000 in 2024, whichever is less.

For comparison, the contribution limit to a traditional or Roth IRA for the 2024 tax year is $7,000, plus a $1,000 catch-up contribution if you’re 50 or older.

SIMPLE IRA and SEP-IRA accounts are available through many top brokers. Click here to see our updated list and determine which could be the best fit for you.

Supercharge your financial future

Saving and investing through a tax-advantaged retirement account can be an excellent way to build wealth over time. And that’s especially true of SIMPLE IRA and SEP-IRA accounts, which can allow you to save far more aggressively for retirement than the alternatives.

Not only can a self-employed retirement account help secure your financial future, but it can also get you an extremely valuable tax break today.

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
You’re in luck if you’ve been in the market for a new or used electric vehicle. After prices for EVs soared over the past few years because of supply chain constraints and rising inflation, electrified car models are finally starting to experience price drops.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 falling prices are even sweeter because some used and new EVs qualify for the government’s EV tax credits. Here’s how much EV prices are falling and why you should spend a few minutes comparison shopping for the best car insurance for your EV.Used EV prices are down 20% over the past yearEV prices peaked in mid-2022 as vehicle shortages combined with high demand. However, supply chain constraints have eased since then. And with some consumers pulling back on large expenses due to high inflation, the EV market has slowed.Research from Edmund’s shows that used electric vehicle prices have tumbled 20% over the past year. This puts the average transaction price for a used EV at around $33,787.But you don’t need to shell out that much cash for a used EV. There are plenty of used models for $25,000 or less. Even better, some qualify for a tax credit worth up to $4,000 (if it’s a used EV sold from a licensed dealer priced under $25,000). Here are a few that likely qualify, according to Car & Driver:2012–2014 Tesla Model S Performance and P852018–2022 Tesla Model 32019–2021 Hyundai Ioniq Electric2019–2022 Nissan Leaf Plus2019–2022 Hyundai Kona Electric2022 Chevrolet Bolt EUV2022 Mazda MX-30Related: Did you know the type of EV you buy can affect your insurance premiums? Click here to see comparisons of the cheapest car insurance providers.Higher insurance costs for EVs are realIf you’re in the market for an EV, you’ve likely looked into how much money you might save on gas or how much your electricity costs will increase by charging your car at home. But one factor you might have overlooked is the higher insurance costs for EVs.EVs typically cost up to 20% more to insure than gas-powered cars. There are a few reasons for this, including:The higher cost of EVs relative to gas-powered carsA limited number of auto technicians trained to repair EVsComplex equipment in EVs that’s expensive to repair or replaceEV batteries are expensive to replacePro tip: Skip the long phone calls by comparing insurance providers online. We’ve done the hard work for you with our list of the best car insurance companies.Unless you repair your EV yourself (not recommended, unless you know what you’re doing!), one of the best ways to find the cheapest car insurance is to compare rates from multiple insurers. Not all insurance providers weigh your driving record, credit score, or car model the same way.While EV prices are falling, insurance costs are, unfortunately, moving in the opposite direction. Car insurance premiums jumped an average of 22% this year alone. This means that if there was ever a time to look into switching your insurance provider, it’s now.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.Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

You’re in luck if you’ve been in the market for a new or used electric vehicle. After prices for EVs soared over the past few years because of supply chain constraints and rising inflation, electrified car models are finally starting to experience price drops.

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 falling prices are even sweeter because some used and new EVs qualify for the government’s EV tax credits. Here’s how much EV prices are falling and why you should spend a few minutes comparison shopping for the best car insurance for your EV.

Used EV prices are down 20% over the past year

EV prices peaked in mid-2022 as vehicle shortages combined with high demand. However, supply chain constraints have eased since then. And with some consumers pulling back on large expenses due to high inflation, the EV market has slowed.

Research from Edmund’s shows that used electric vehicle prices have tumbled 20% over the past year. This puts the average transaction price for a used EV at around $33,787.

But you don’t need to shell out that much cash for a used EV. There are plenty of used models for $25,000 or less. Even better, some qualify for a tax credit worth up to $4,000 (if it’s a used EV sold from a licensed dealer priced under $25,000). Here are a few that likely qualify, according to Car & Driver:

2012–2014 Tesla Model S Performance and P852018–2022 Tesla Model 32019–2021 Hyundai Ioniq Electric2019–2022 Nissan Leaf Plus2019–2022 Hyundai Kona Electric2022 Chevrolet Bolt EUV2022 Mazda MX-30

Related: Did you know the type of EV you buy can affect your insurance premiums? Click here to see comparisons of the cheapest car insurance providers.

Higher insurance costs for EVs are real

If you’re in the market for an EV, you’ve likely looked into how much money you might save on gas or how much your electricity costs will increase by charging your car at home. But one factor you might have overlooked is the higher insurance costs for EVs.

EVs typically cost up to 20% more to insure than gas-powered cars. There are a few reasons for this, including:

The higher cost of EVs relative to gas-powered carsA limited number of auto technicians trained to repair EVsComplex equipment in EVs that’s expensive to repair or replaceEV batteries are expensive to replace

Pro tip: Skip the long phone calls by comparing insurance providers online. We’ve done the hard work for you with our list of the best car insurance companies.

Unless you repair your EV yourself (not recommended, unless you know what you’re doing!), one of the best ways to find the cheapest car insurance is to compare rates from multiple insurers. Not all insurance providers weigh your driving record, credit score, or car model the same way.

While EV prices are falling, insurance costs are, unfortunately, moving in the opposite direction. Car insurance premiums jumped an average of 22% this year alone. This means that if there was ever a time to look into switching your insurance provider, it’s now.

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.Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.

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[[{“value”:”Image source: The Motley Fool/Upsplash
Americans are having a tough time with credit cards right now. The average annual percentage rate (APR) for credit cards is 21.7%. At the same time, more than half of consumers use cards to make ends meet.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 combination of increasing reliance on credit cards and high interest rates pushed credit card delinquency rates (when a payment is more than 30 days past due) up to 9.1% in the third quarter of this year, according to the Federal Reserve.I recently paid off some credit card debt, and I know how difficult it can be to tackle the problem head-on. Here are three tried-and-true strategies to do it.1. Debt snowball methodThis method has become a popular way to get out of debt, not just because it works but also because it makes it easy to stay motivated. With the debt snowball, you list your debts from smallest to largest and tackle the smallest debts first.You ignore the interest rates and instead put as much money into the smallest debt to pay it off as soon as possible. Once it’s paid off, you move on to the next largest debt, adding what you paid on the previous card to this payment. As you move through your debt list, your payment amount “snowballs” into larger amounts, making it easier to tackle the larger debts.Related: An emergency fund is a good first step to staying out of debt. Click here to see which high-yield savings accounts pay you the most.Let’s say you have three credit cards with balances of $1,000, $2,000, and $3,000. You would pay as much as possible to the $1,000 balance (let’s say $200 per month) while making minimum payments on the others.Once the $1,000 balance is gone, you would pay the $200 per month toward the $2,000 balance, plus whatever the minimum payment was. When that balance is gone, you do the same for the $3,000 balance.2. Meet with a financial advisorYou may not want to talk with someone about your credit card debt, but meeting with a financial advisor could be one of the best ways to tackle your debt.A good financial planner can help you develop a manageable debt payoff strategy and even help you with budgeting and other financial goals. You can find financial planners by searching on the National Association of Personal Financial Planners (NAPFA) website.These advisors have agreed to act as fiduciaries, which means they’ve committed to acting in the best interest of their clients and not themselves.While it may seem counterintuitive to pay someone to help you get out of debt, these fiduciaries are paid a flat fee, so you won’t be upsold on services you don’t need. Most of the time, the fees range between $100 and a few hundred dollars an hour, and you typically only need to meet with them once or twice per year.3. Debt consolidationCombining all of their credit card debt into one loan with a lower interest rate may be a good option for some people. With this strategy, you might apply for a debt consolidation loan with a lower interest rate than your credit cards or even use a balance transfer card with a low introductory APR.For example, let’s say you have $8,000 in debt on a credit card with a 21.7% APR. It will take you an estimated 2.5 years to pay off that balance if you pay $350 monthly. But there are some personal loans with APRs as low as 8%, which could reduce your balance payoff time by about five months and reduce the interest paid by more than $1,700!We’ve done the work for you. Click here to see our review of the best debt consolidation loans.Additionally, some balance transfer credit cards offer 0% introductory rates for up to 21 months. You’ll usually pay a balance transfer fee of between 3% and 5%, but the upside is you’ll have a very low rate for an extended period, allowing you to potentially make significant progress toward knocking out your debt.Tackling your credit card debt can seem overwhelming, but there are options to make it easier. Speaking with a financial advisor can help you find the right strategy, and using a debt consolidation loan may help lower your monthly payments. No matter which method you choose, picking one and sticking with it is the best way to make progress.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”:”

Americans are having a tough time with credit cards right now. The average annual percentage rate (APR) for credit cards is 21.7%. At the same time, more than half of consumers use cards to make ends meet.

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 combination of increasing reliance on credit cards and high interest rates pushed credit card delinquency rates (when a payment is more than 30 days past due) up to 9.1% in the third quarter of this year, according to the Federal Reserve.

I recently paid off some credit card debt, and I know how difficult it can be to tackle the problem head-on. Here are three tried-and-true strategies to do it.

1. Debt snowball method

This method has become a popular way to get out of debt, not just because it works but also because it makes it easy to stay motivated. With the debt snowball, you list your debts from smallest to largest and tackle the smallest debts first.

You ignore the interest rates and instead put as much money into the smallest debt to pay it off as soon as possible. Once it’s paid off, you move on to the next largest debt, adding what you paid on the previous card to this payment. As you move through your debt list, your payment amount “snowballs” into larger amounts, making it easier to tackle the larger debts.

Related: An emergency fund is a good first step to staying out of debt. Click here to see which high-yield savings accounts pay you the most.

Let’s say you have three credit cards with balances of $1,000, $2,000, and $3,000. You would pay as much as possible to the $1,000 balance (let’s say $200 per month) while making minimum payments on the others.

Once the $1,000 balance is gone, you would pay the $200 per month toward the $2,000 balance, plus whatever the minimum payment was. When that balance is gone, you do the same for the $3,000 balance.

2. Meet with a financial advisor

You may not want to talk with someone about your credit card debt, but meeting with a financial advisor could be one of the best ways to tackle your debt.

A good financial planner can help you develop a manageable debt payoff strategy and even help you with budgeting and other financial goals. You can find financial planners by searching on the National Association of Personal Financial Planners (NAPFA) website.

These advisors have agreed to act as fiduciaries, which means they’ve committed to acting in the best interest of their clients and not themselves.

While it may seem counterintuitive to pay someone to help you get out of debt, these fiduciaries are paid a flat fee, so you won’t be upsold on services you don’t need. Most of the time, the fees range between $100 and a few hundred dollars an hour, and you typically only need to meet with them once or twice per year.

3. Debt consolidation

Combining all of their credit card debt into one loan with a lower interest rate may be a good option for some people. With this strategy, you might apply for a debt consolidation loan with a lower interest rate than your credit cards or even use a balance transfer card with a low introductory APR.

For example, let’s say you have $8,000 in debt on a credit card with a 21.7% APR. It will take you an estimated 2.5 years to pay off that balance if you pay $350 monthly. But there are some personal loans with APRs as low as 8%, which could reduce your balance payoff time by about five months and reduce the interest paid by more than $1,700!

We’ve done the work for you. Click here to see our review of the best debt consolidation loans.

Additionally, some balance transfer credit cards offer 0% introductory rates for up to 21 months. You’ll usually pay a balance transfer fee of between 3% and 5%, but the upside is you’ll have a very low rate for an extended period, allowing you to potentially make significant progress toward knocking out your debt.

Tackling your credit card debt can seem overwhelming, but there are options to make it easier. Speaking with a financial advisor can help you find the right strategy, and using a debt consolidation loan may help lower your monthly payments. No matter which method you choose, picking one and sticking with it is the best way to make progress.

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
What will happen to your credit score if you open a new credit card today? The short answer is that you’re likely to see a minor drop in your credit score when you apply for and open a new credit card. According to several reports, opening a new credit card can be expected to result in a drop between 5 and 10 points on your FICO® Score.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, it largely depends on the rest of your credit report and where your score stands before it. Someone with a flawless 850 FICO® Score who applies for a new credit card could potentially see a larger drop, while someone with an average score in the 700 range would likely see a loss of fewer points.Are you looking for a new rewards credit card? Click here to see the top offers available right now.Why does opening a new credit card hurt your score?There are two main reasons why opening a new credit card tends to have an adverse effect on your score. And they have to do with how your FICO® Score is calculated.First, 10% of your FICO® Score comes from a category known as “new credit.” This considers hard credit inquiries (which happen when you apply for a new credit account), as well as newly opened accounts that appear on your credit report.Second, 15% of your score comes from the “length of credit history” category. Among other time-related factors, this considers the average age of your credit accounts and the ages of each individual account you have. A brand-new credit card account will lower your average account age.So the affected categories only make up 25% of your score. Plus, if you have a long-established credit history with a bunch of older credit card accounts, a mortgage, an auto loan, and others, the impact on the “length of credit history” category should be rather minimal. That’s why the drop is only likely to be 10 points or less, but it’s still a drop. And it’s important to expect it.Don’t let it prevent you from opening a new cardWhile your score can experience a drop when opening a new card, not only is it likely to be a small one, but it is likely to be short-lived. For one thing, the FICO formula only considers hard credit inquiries from the past 12 months, and the closer they get to that age, the less they’ll be factored into your score.Furthermore, your new credit card (assuming that you use it responsibly) can influence your score in positive ways, and these can quickly outweigh any of the negative impacts. As an example, 35% of your credit score comes from your payment history, so after a few on-time payments, this can be a positive factor — and that’s especially true if you don’t have more than one or two other active credit card accounts.If you keep your balance low on your new credit card, it can also help you in the “amounts owed” category, which makes up 30% of your FICO® Score. Using a low percentage of your available credit (ideally 30% or less) is the best way to boost this category.The bottom line is that it’s wise to expect a small FICO® Score drop after you open a new credit card, but that shouldn’t necessarily discourage you from getting a new credit card if you want one.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”:”

What will happen to your credit score if you open a new credit card today? The short answer is that you’re likely to see a minor drop in your credit score when you apply for and open a new credit card. According to several reports, opening a new credit card can be expected to result in a drop between 5 and 10 points on your FICO® Score.

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, it largely depends on the rest of your credit report and where your score stands before it. Someone with a flawless 850 FICO® Score who applies for a new credit card could potentially see a larger drop, while someone with an average score in the 700 range would likely see a loss of fewer points.

Are you looking for a new rewards credit card? Click here to see the top offers available right now.

Why does opening a new credit card hurt your score?

There are two main reasons why opening a new credit card tends to have an adverse effect on your score. And they have to do with how your FICO® Score is calculated.

First, 10% of your FICO® Score comes from a category known as “new credit.” This considers hard credit inquiries (which happen when you apply for a new credit account), as well as newly opened accounts that appear on your credit report.

Second, 15% of your score comes from the “length of credit history” category. Among other time-related factors, this considers the average age of your credit accounts and the ages of each individual account you have. A brand-new credit card account will lower your average account age.

So the affected categories only make up 25% of your score. Plus, if you have a long-established credit history with a bunch of older credit card accounts, a mortgage, an auto loan, and others, the impact on the “length of credit history” category should be rather minimal. That’s why the drop is only likely to be 10 points or less, but it’s still a drop. And it’s important to expect it.

Don’t let it prevent you from opening a new card

While your score can experience a drop when opening a new card, not only is it likely to be a small one, but it is likely to be short-lived. For one thing, the FICO formula only considers hard credit inquiries from the past 12 months, and the closer they get to that age, the less they’ll be factored into your score.

Furthermore, your new credit card (assuming that you use it responsibly) can influence your score in positive ways, and these can quickly outweigh any of the negative impacts. As an example, 35% of your credit score comes from your payment history, so after a few on-time payments, this can be a positive factor — and that’s especially true if you don’t have more than one or two other active credit card accounts.

If you keep your balance low on your new credit card, it can also help you in the “amounts owed” category, which makes up 30% of your FICO® Score. Using a low percentage of your available credit (ideally 30% or less) is the best way to boost this category.

The bottom line is that it’s wise to expect a small FICO® Score drop after you open a new credit card, but that shouldn’t necessarily discourage you from getting a new credit card if you want one.

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