Avoid these common blunders to ensure your travels are smooth and enjoyable. Johnson / Shutterstock.com
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Here’s how to tell if a product review was written by a real person, a robot or a scam artist. Johnson / Money Talks News
Online reviews help guide us to the best products at the best prices — at least, in theory. The reality is that often they are made up. Amazon, which is rife with fake reviews, said it blocked more than 250 million in 2023 alone. And fakes are big business, according to money expert Clark Howard. But there are ways to screen reviews and avoid making bad choices based on lies.
You don’t want to overfund your checking account. Here’s how it could cost you big time. [[{“value”:”
Image source: Getty Images
There’s a reason so many people sign up to have their paychecks directly deposited into their checking accounts. If you use that account to pay your living expenses, then it makes sense to have money landing in there at all times.
It’s also a good idea to keep a little extra money in your checking account beyond what you might need for monthly bills. There may be a month when your grocery bills are slightly higher, or when your electric bill costs more than expected. If you have that extra cash in your checking account already, you won’t have to worry about coming up with the money or doing a last-minute transfer from your savings account.
But while it’s smart to keep a bit of extra money in a checking account, you don’t want to go overboard, even if you have one of the best checking accounts. If you’re sitting on a checking account balance of $10,000, it may be overkill.
As a general rule, you should keep up to two months’ worth of bills in a checking account. That way, you have some wiggle room in case your expenses come in higher, or in case there’s an issue with getting your next paycheck out on time.
If you normally spend $5,000 a month and decide to keep $10,000 in your checking account, that makes sense. But if your monthly bills come to $3,500, you probably don’t need more than $7,000 in that account at any given time — not if you have a solid emergency fund to fall back on in your savings account.
Your emergency fund should have enough money to cover at least three months of essential bills. That’s to get you through a period of unemployment, or to cover a large unexpected bill, like a home or car repair.
But since your emergency fund is not money you’re expecting to spend right away, you might as well earn some interest on it. While some checking accounts pay interest, you’re likely to earn a lot more interest in a savings account — especially if you shop around for the right one. Click here for a list of the best savings accounts today.
It’s perfectly fine to pad your checking account beyond what you need for a single month of bills. But in many cases, $10,000 is too much money to keep in a checking account.
If you have extra money in your checking account today, and your emergency fund is also complete, here are some other options you can consider:
A CD: The nice thing about a CD is that it allows you to lock in a guaranteed interest rate on your money for the duration of the CD term. With a savings account, your interest rate isn’t guaranteed. Click here for a list of the best CD rates available today.A brokerage account: With a brokerage account, you can invest your money in stocks and other assets that have the potential to gain a lot of value over time. The S&P 500’s average annual return over the past 50 years is 10%, much higher than even the top CD rates today. Click here for a list of the best brokerage accounts.An IRA: If you have money you’re looking to invest for retirement, an IRA (individual retirement account) is a great place to put it. You may get a tax break on the money you contribute, and you don’t pay taxes on investment gains until you take withdrawals. Click here for a list of the best IRAs.
Ultimately, the right checking account balance to maintain will depend on your personal expenses. But if $10,000 is well beyond what you need for two months of bills, then it’s probably time to move some of your money into one of the options above.
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.
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Love Kohl’s? Read on to see what this retailer’s Black Friday has in store. [[{“value”:”
Image source: Getty Images
It used to be that Black Friday deals would first become available to consumers on — wait for it — Black Friday. You know, the actual day after Thanksgiving. But these days, Black Friday deals tend to start showing up in early November and last the entire month.
Whether that’s a good thing is debatable. On the plus side, it gives you more time to tackle your holiday shopping and takes some of the intensity off of Black Friday itself. On the flipside, the month-long deal trend can create unexpected pressure since you might feel like you constantly need to be on the lookout for sales.
One retailer that likes to go big for Black Friday is Kohl’s. Kohl’s is already known for its competitive prices, but during the month of November, you might enjoy even more savings on the various items on your holiday list. Here’s a rundown of what to expect based on an analysis by the site BlackerFriday.com.
Kohl’s hasn’t announced any official Black Friday sales or events as of this writing. But based on what the store has done in the past, there’s a good chance the first round of deals will drop on or around Nov. 8. So you may want to not only check out the store or site that day but also come up with a list of holiday gifts beforehand that you’re looking to buy.
This also means now could be a good time to apply for a new credit card with a generous sign-up bonus. The tricky thing about snagging those bonuses is that you have to meet a certain spending threshold within a specific timeframe.
But if you’re going to be doing a lot of holiday shopping in November, you may be more likely to spend the amount required to get your bonus cash. Click here for a list of the best credit card sign-up bonuses available this month.
Thanksgiving falls out on Nov. 28 this year, and Kohl’s will likely release a follow-up round of deals starting Sunday, Nov. 24. At this point, you’ll want to take a look at your shopping list, see what progress you’ve made, and then compare the prices at Kohl’s to other retailers.
Like many retailers, Kohl’s will likely save its major doorbusters for Black Friday itself. But there’s more to the story.
There’s a good chance the actual Black Friday sale itself will start the day before — on Thanksgiving. However, what Kohl’s has done in the past is release Black Friday deals on Thursday only on its website and save the in-store specials for Friday.
That’s good, since you probably don’t want to ditch your family and friends on Thanksgiving to line up outside of Kohl’s. (And for what it’s worth, last year, Kohl’s was closed on Thanksgiving anyway.)
There’s no way to know that in advance. A good bet is to set yourself up with a price comparison app like ShopSavvy that helps you compare offers. Or you can do the work manually by checking out prices at competing retailers like Walmart, Target, and Amazon.
If you’re buying electronics, you may also want to look at Best Buy to see what deals it has available. And if you have a Sam’s Club or Costco membership, it definitely pays to see what Black Friday specials they’re running as well.
When you do your price comparisons, though, do keep in mind that Kohl’s commonly offers Kohl’s Cash as part of its Black Friday sales. And to be clear, you might snag that cash back for most of November — not just on Black Friday itself. Last year, Kohl’s offered $15 in store cash for every $50 spent.
You might think that come Cyber Monday, Kohl’s won’t have any sales left to offer. But not so. Expect a host of online deals that day, as well as an opportunity to earn additional Kohl’s Cash on your purchases.
Navigating Black Friday deals can seem like a lot — at Kohl’s or any other store. But remember, even if you miss out on a deal, chances are, another one will come your way during the holiday shopping season. And if you don’t find your top items for a great price at Kohl’s, keep looking. Another store might very well have them.
You can ease the stress of holiday shopping by starting early. Don’t wait until Black Friday itself to tackle your list, since stores may have limited quantities of the items you want that sell out quickly. And no matter where you shop, pay close attention to each store’s return policy in case you change your mind or find a better price elsewhere.
At Kohl’s, most returns can be made within 90 days. And while there’s usually an exception for premium electronics, watches, and Sephora at Kohl’s items, anything in this category purchased after Nov. 1 can be returned until Jan. 31. Most of Kohl’s competitors will likely extend their returns window as well, but find out just to be sure.
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Maurie Backman has positions in Amazon and Target. The Motley Fool has positions in and recommends Amazon, Best Buy, Costco Wholesale, Target, and Walmart. The Motley Fool has a disclosure policy.
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Slash your spending on food while on the road with a little bit of planning. adriaticfoto / Shutterstock.com
You scour the internet for the best deals on flights and lodging when planning a trip. So don’t throw all your financial cares to the wind once you’re on vacation — particularly when it comes to putting food in your mouth. It can be easy to overspend on food when you’re away from home. You’ve got to eat, and food just seems to be more expensive when you’re traveling. But with some advanced…
Love Costco? A few tweaks to your shopping habits could save you a boatload of money. Learn more here. [[{“value”:”
Image source: Getty Images
There’s a reason so many people are willing to spend money on a Costco membership. While you’ll hand over $65 a year for a Gold Star membership or $130 a year for an Executive membership that gives you cash back on your purchases, your savings might more than make up for those fees.
But a few simple moves on your part could make it so you’re able to save even more money at Costco. Here are a few changes that might benefit you in a big way.
If you’re someone who tends to avoid Costco in person and do the bulk of your shopping online, that’s understandable. You may not enjoy battling the crowds at Costco, or having to drive around to find a parking space in the perpetually crowded lot.
But shopping at an actual Costco store vs. Costco.com could result in a lot of savings. See, Costco marks up its online prices to account for the cost of shipping and handling. So an item you buy for $10.99 online might only cost $8.99 (or less) in the store.
Now on a one-off basis, that’s not a big deal. But imagine you’re paying $2 more for every item you buy from Costco.com during the year. If you place one order a month with 10 items, that’s an extra $20. Multiply that by 12 months, and you’re looking at $240.
So if you’ve been sticking to shopping Costco.com because you can’t stand the crowds at your local Costco store, try playing around with different shopping hours. You may find that the store isn’t so crowded when it first opens or during the evening hours.
In fact, a lot of people try to shop at Costco during the midpoint of the day because that’s when the store’s famous free samples tend to be on offer. But if you don’t care about snagging a free bite of cheese or a bonus cracker, shopping early or late could make the experience a lot more pleasant.
Whether shopping online or in store, check out our top tip for maximizing rewards on your Costco spending.
Buying groceries in bulk at Costco could save you money — if you use up your haul. But if you keep throwing out food because it spoils, you’re not saving as much as you could be.
Say you typically spend $5 on strawberries at Costco each week because $5 worth at your local supermarket gives you 50% less, but you commonly toss about half the carton. Technically, you’re not losing money, because you’d spend the same amount elsewhere and just get fewer berries.
But if you ask your neighbor or friend a few blocks over to split that large $5 Costco case of strawberries each week, then not only can you avoid wasting money, but also, spend $2.50 less each week. Multiply that by 50 weeks, and that’s $125 back in your pocket. And if you do the same thing across a few different bulk items you buy regularly but typically don’t finish, the savings can really add up.
You may not be in the habit of buying gift cards at Costco. After all, the store is mostly known for its discounts on food and household items — not gift cards.
But you should know that Costco sells gift cards below their face value. So if there are certain restaurants, for example, that you visit often, then it pays to load up.
As one example, right now, you can buy $75 worth of Subway gift cards from Costco for $59.99. If you buy lunch from Subway twice a week, this is a deal worth grabbing repeatedly, assuming it remains available. And if not, look around, because you may find discounted gift cards to other restaurants or establishments you go to on a regular basis.
You might feel as if you’re saving money at Costco simply by walking through the door. But a few changes to your shopping habits could leave you with added savings. And on top of these three things, make sure you’re using a credit card that offers maximum rewards on your Costco purchases. Click here for a list of the best credit cards for Costco, so you can come away an even bigger winner.
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.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.
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