Money Management

Want to fly business class without spending thousands? Discover the best travel hacks for saving on business-class airfare. [[{“value”:”

Flying business class is exciting, but airlines usually charge a pretty penny for it. On long flights, a roundtrip ticket in business class could easily cost $3,000 to $5,000. Those lie-flat seats and delicious meals don’t come cheap.

Except sometimes, business class does come cheap. With the right travel hacks, you could book luxurious business-class flights at a fraction of the usual cost.

1. Use travel rewards to book an award flight

My method of choice for booking business class is using airline miles instead of cash. You only need to pay taxes and fees, so you save what the entire business-class fare would’ve cost. To give you an example, I booked two business-class tickets earlier this year for 154,000 miles plus $525 in taxes and fees. In cash, it would’ve cost me $6,212!

But how do you get all those miles? With travel credit cards, you can earn rewards on your credit card spending. These cards often have big sign-up bonuses for new cardholders, too. And many of them let you transfer the rewards you earn to a dozen or more airlines, converting them into miles with the airline you choose.

I love to fly business class, and thanks to travel cards, I get to do it every year while saving thousands of dollars. If you want to do the same, click here to see our curated list of the top travel cards.

2. Book economy and upgrade it later

When airlines have unsold business-class seats, they generally start offering upgrades as it gets close to the departure date. Some airlines will let you upgrade for a flat fee. Others have a bidding system. You enter the amount you’re willing to pay for an upgrade, and the airline decides whether to accept it.

Upgrading from economy is often a much cheaper path into business class than booking it from the beginning. The tradeoff is that upgrades aren’t always available. But if you’re open to flying in either cabin, you may want to book economy first to save money, and then keep an eye out for upgrade opportunities.

3. Shop around for special offers

Business class may be luxurious, but it can still go on sale. One way to find cheap business-class flights is to check an airline’s deals page. For example, Delta and United both have deals pages where you can search for business-class flights flying out of your home airport.

You could also look for special offers or promo fares during your flight searches. That’s how I stumbled on a business-class flight with Air France for just $1,200, compared to a normal price of $1,800.

There are often special offers for award tickets, too. If you’re planning to book with rewards you’ve earned using your credit cards, it’s still worthwhile to go deal hunting.

4. Find the best days to fly with low-fare calendars

One of my favorite tools as I shop for airfare is low-fare calendars. Many airlines have these, which show you a range of dates and the lowest flight prices on each date. If you’re looking specifically for business-class flights, you can specify that to see business-class prices. And you can shop in either cash or miles, depending on how you’re planning to pay.

For flexible travelers, low-fare calendars make it easy to find the most affordable travel dates. If possible, try to keep a range of dates open so you can choose the one with the best deals.

5. Try an anywhere flight search to find affordable destinations

If you’re flexible about where you fly, some online travel portals let you leave your destination open. You enter your home airport, travel dates, and select business class, and you’ll get a list of destinations with flight prices to each one.

Google Flights and Skyscanner both offer this feature. Skyscanner even reports that half of its users come without a specific destination in mind. It’s a fun way to find new places to travel, while getting a good deal in the process.

You can avoid paying sky-high prices for business class. Give these travel hacks a try for a more enjoyable flight experience that doesn’t break the bank.

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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.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Lyle Daly has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.

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Saving and investing are both great financial options. Read to find out how to determine which is best for you. [[{“value”:”

Deciding what to do with some extra cash can be difficult. Putting your money into a high-yield savings account can be a great option, especially with some accounts paying APYs of 4% to 5%.

On the other hand, there are certainly times when investing your money is the right decision so you can have enough for retirement or another far-off goal.

So, how do you choose which is the best option? Let’s take a look at a few factors to help you decide.

1. Consider your current financial situation

The first thing you should do before doing anything with your money is to consider your current financial situation. Here are a few questions you want to consider:

Do I have enough money in my emergency fund?Do I have high-interest debt to pay off?Will I need easy access to my money over the next few months or years?

The answers to these questions can vary widely depending on your age, financial situation, and personal circumstances. But thinking through them will help you determine what’s important to you right now and where you want your finances to be in the future.

For example, investing your money might be the best option for you if you have little or no high-interest debt and already have the recommended three to six months of expenses in an emergency fund. However, if you have little or no cash for a rainy day, it’s probably better to put your money into a savings account.

Creating an emergency fund is one of the best things you can do for your finances. Click here for the best high-yield savings accounts for your money.

2. Determine your long-term financial goals

This is related to the first idea, but it differs in that you zoom out and look at your financial goals based on what you want your money to accomplish, instead of addressing an immediate need (like paying off a credit card balance).

For example, you might want to ask yourself these questions:

Do I want to put money aside for a house down payment?Do I need more money in savings in case I lose my job?Do I want this money to earn a maximum return for retirement?

Notice how these questions are focused on long-term goals and may involve larger sums of cash than starting an emergency fund or paying off a small credit card balance.

Let’s say your long-term goal is to buy a house. You’ll need to have easy access to that money, making a savings account an ideal place to put your cash. In contrast, investing your money in a brokerage account is probably the best move if you want to earn the most money possible.

Need help getting started with investing? We’ve got you covered. Click here for a list of the best brokerage accounts.

3. Do the math

In addition to considering your current financial position and your long-term goals, it pays to look at how much you’ll earn with a savings account vs. investing your money.

Let’s assume you have $10,000 to invest and can earn 5% APY with a savings account or 10.2% (the historical average annual rate of return for the S&P 500) by investing it. Here’s how your money could grow over 30 years:

It’s clear from these hypothetical situations that investing your money is the better option for maximizing long-term returns. (Plus, you’re unlikely to earn 5% from a savings account over three decades — the APYs on savings accounts lately are notably high.) This is why once you’ve paid off any high-interest debt you have and put money into an emergency fund, you should consider investing any additional cash you have.

Putting money in a high-yield savings account and investing additional money should both be on your financial to-do list. Just make sure that whatever you decide to do with your money aligns with your near- and long-term financial goals.

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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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Are your expenses higher or lower than the typical American’s? Read on to find out — and to get some tips for lowering yours. [[{“value”:”

Have you ever stopped and wondered whether your monthly spending is higher or lower than the typical American’s? You may be kicking yourself for spending $6,000 a month and skimping on contributions to your savings account, only to realize that $6,000 a month is less than the typical consumer spends.

As of 2023, the average American was spending $6,440 per month, up from $6,081 in 2022. And it’s not so surprising to see that increase. Not only do living costs tend to rise from one year to the next, but inflation was still pretty rampant in 2023, which explains the monthly increase of $359.

If you’re having a hard time keeping up with your expenses, or if you simply want to cut back to boost your savings, then here’s a general tip. Following a budget is a good way to keep your spending in check and make more mindful spending decisions. Click here for a list of the best budgeting apps.

But you should also know that the three largest spending categories among Americans today are housing, transportation, and food. Here are steps you can take to save money on each.

Housing

The typical American spends $2,120 per month on housing (per 2023 data). Some ways to spend less on housing include:

Refinancing your mortgage if you’re able to lower the interest rate on your home loan by around 1 percentage point or moreAppealing your property taxes if they’ve risen a lot over the past year (your local tax assessor should be able to give you information on how to do this)Shopping around for new homeowners insuranceGetting on your homeowners association board (if applicable) to have a say in your HOA’s budget and try to find ways to lower monthly duesGiving up amenities in a rental, like a gym or doorman, for less expensive rentSeeing if your landlord will lower your rent in exchange for your help in maintaining their property and tackling items they’d normally be responsible for, like snow removal

Transportation

Although the typical American spends much less on transportation than housing, the average cost there is still $1,098 a month. Some ways to spend less on transportation include:

Refinancing your auto loan, which could make financial sense in 2025, since borrowing rates are expected to fall across the board in the coming monthsShopping around for new auto insuranceSeeing if you qualify for pay-per-mile auto insurance if you work from home and don’t drive a lotMaking sure to fill up your car with quality fuel that gives you better gas mileage (Costco gasoline, for example, is TOP TIER certified, which means it’s designed for superior performance)Seeing if you can get by without a car altogether, which may be doable if there’s adequate public transportation where you live

Food

Food costs the typical American $832 per month. But you can save money on food by:

Joining a warehouse club store like Costco or Sam’s Club if you have a larger household and buying in bulk makes sense for youShopping at discount grocery stores like AldiSeeing if there’s a low-cost CSA (community-supported agriculture) program in your area where you can buy a share, or split a share with someone elseScoring extra cash back at the supermarket by paying with a credit card that offers extra rewards on groceries

Of course, these are just some ways to lower your monthly spending if that’s something you feel you should do. Cutting back on things like streaming services might help, as might doing your own personal grooming instead of paying for those types of services.

But finding ways to save on your largest monthly expenses might have the most impact on your finances. It pays to focus on ways to slash your housing, transportation, and food costs.

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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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CDs can be great for some people — but they’re not a fit for me. Read on to see why I’m giving them a pass despite great rates. [[{“value”:”

The long-awaited first Federal Reserve rate cut finally arrived on Sept. 18 — but CD rates (particularly those on short-term CDs) are still fairly high for now. As of this writing, the top rate on our list of the best 6-month CD rates is 4.90% — not bad!

But another FOMC (Federal Open Market Committee) meeting is coming up in a few short weeks, and we expect to see another cut to the benchmark rate on Nov. 7 at the conclusion of that meeting. And once that happens, it’s likely that banks will lower the rates on consumer accounts (like certificates of deposit and savings accounts) as well.

I could rush to open a CD before that happens, and lock in a rate around 5%. But I’m not going to do this — here’s why.

CDs don’t fit my investing needs

At the ripe old age of 40, I finally have a retirement account that I opened a few months ago and have been funneling money to every week. I feel very behind on saving for retirement, and as such, I’m going all in on investments that have a higher rate of return over the long term — namely, ETFs that track the S&P 500. Its average annual return over the last 50 years is about 10%, which is basically unheard of from CDs, especially over such a long period.

Since I don’t want to waste any more time, I’m not using CDs for my long-term savings. A highly rated traditional IRA with a robo-advisor is doing the hard work for me instead.

My savings account is better for me than a CD

The other reason I’m still passing on CDs is that my savings account is meeting my needs for a high interest rate and easy access to my cash. Let’s take a closer look.

Interest rate

The APY on my high-yield savings account is still on par with what I’d earn from CDs. Yes, my savings account has a variable interest rate, whereas with a CD, that 4%-5% rate would be locked in for the duration of the term. That guarantee of return still isn’t worth it to me for what I’d be giving up — liquidity (more on that below).

I’m likely to see the current rate of 4% I’m getting on my savings continue to fall as the Federal Reserve moves forward with additional rate cuts, and yes, that will be a bummer. But I can rest easy knowing that my money is accessible for whenever I need it, and I won’t have to pay an early withdrawal fee like I would if I needed to break a CD term early.

Liquidity

I recently had to dip into my emergency fund for the first time to cover my very first repair as a new homeowner. I had an HVAC technician visit to check out my system and make sure everything was working, and it turned out, my boiler needed a fairly minor repair. Between the check-up and the fix, I received a bill for $776.

Thankfully, I had my emergency fund to draw from, and since that’s kept in my savings account, it was a simple matter to transfer the money to my checking account to pay off the credit card I used to pay the bill. (Whenever you can earn rewards points, you should.)

Need a new home for your emergency fund? We recommend high-yield savings accounts — click here for our picks for the best ones right now.

I also just don’t have saved cash that would be the right fit for a CD. I have my emergency fund, and I have smaller pools of money in different savings buckets within my HYSA that are reserved for expenses like the new living room TV I’m buying next month, a few short trips I’m taking this fall, and my quarterly tax payments (gotta love freelance life). It’s surely not worth opening a very short-term CD to store my new TV money — I’ll likely earn 4% on that just from leaving it in my savings account for another month.

Are CDs right for you?

Ultimately, CDs just aren’t a fit for me, despite their still-attractive rates. But they could be right for you, especially if you know for sure (as sure as anyone can ever be in this life, that is) that you won’t need the cash you’d put into one until the term is up.

If you’ve got $10,000 you intend to use as a down payment on home purchase a year from now, absolutely look into CDs. You can likely lock in a great rate on a 1-year CD and earn $400 or $500 on your money — and the threat of an early withdrawal penalty might mean you’ll be even more committed to use that money to buy a house instead of being tempted to use it on something else before the time arrives.

Personal finance is just that — personal. If CDs are on your radar, I recommend you look into them sooner rather than later. Another Federal Reserve rate cut is looming (remember, the FOMC meets again on Nov. 6-7), so don’t get caught on the other side of lower CD rates.

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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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Costco’s halo effect might be costing you more than you think. Learn how to shop smarter and save real money on your next Costco run. [[{“value”:”

I’ve had three dates tell me, “You really like to eat, huh,” out of the blue, in a crowded cafe, for no apparent reason. “Uh, huh,” I say, dabbing my face self-consciously. “Why?” The typical response is a shrug and, “I can just tell.” Some things are tough to hide. This is especially true for the things that you love.

Take Costco memberships, for example. More than 1 in 100 people globally is a Costco member. Is this love? What about the utter rage, panic, and desperate horror triggered by the threat of annihilating the $1.50 hot-dog-soda combo? (A combo so beloved, a Costco founder threatened murder over its removal.) Is that love?

Something’s going on there. But don’t take my word for it. Hop on Reddit and check out r/Costco to find a devoted following. People love Costco, and for good reason — it’s cheap. But is it really saving you money?

The psychology behind Costco’s halo effect

Costco’s built a rock-solid reputation for selling bulk products at low prices. There is absolutely no doubt this is true — it’s why I shop frequently at Costco for staple products like rotisserie chicken and frozen shrimp. The brand is worth its weight in solid gold (literally — Costco sells so many gold bars, members are limited in how many they can buy).

Buried within this brand magic is a psychological phenomenon called the halo effect, a term you’ve probably picked up from daytime TV. The halo effect is the tendency to like everything associated with the object of your affection.

Say it with me now. Who do we love? Costco! What do we associate with Costco? Costco products! Literally everything it sells! Toiletries, frozen chicken, silver coins! Enough Doritos to feed a small country! Actual funeral caskets — wait, what?

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Costco’s halo effect extends to all its products

The halo effect leads you to spend more at Costco on stuff you’d never buy otherwise. We’re talking about gold bars (gold ETFs are more liquid), giant flatscreen TVs (buy used ones for dirt cheap on Facebook Marketplace), and whatever you can sample (so delicious, yet so bad for the waistline). Does this not resonate? Do you not feel the struggle?

I’ve been bad — I’ve failed to address Costco delivery, my number one way of sourcing Costco products (thanks, Instacart partnership). I’m 100% guilty of purchasing a $20 12-piece chicken taco platter and eating it in one sitting because I figured, hey, it’s Costco — good deal, right?

The version of me suffering from a post-taco food coma begs to differ. I didn’t need it; it saved me zero dollars. The other realistic option was making chicken at home (a meal under $5) and eating less, a thing I like to do (and often fail at doing). Oh, Costco. Must you tempt me so?

Let’s talk membership fees

That $65 or $130 you shell out annually for a Costco membership? It’s not just a golden ticket to bulk paradise — it’s a clever psychological trick. Once you’ve paid, you feel compelled to “get your money’s worth.” (Experts call this “sunk cost fallacy,” and it’s a common marketing gimmick.)

One grocery trip later, you’re justifying purchases you’d never make elsewhere. “But it’s such a good deal!” you cry, as you load what feels like a 55-gallon drum of mayonnaise into your cart. Is it though? Is it really?

And don’t get me started on the parking lot battle royale. The time you spend circling for a spot, the gas you burn, the years shaved off your life from stress — these are hidden costs.

Then there’s the workout you get pushing that overstuffed cart, which might explain why I’m always famished by the time I hit the food court. One $1.50 hot dog turns into three, and suddenly I’m questioning all my life choices. Coincidence, or psychological tactic?

It’s all marketing — here’s how to resist

Costco has mastered the fine art of making me feel like a savvy shopper while subtly encouraging me to spend more. It’s retail therapy disguised as fiscal responsibility. And I fall for it, time and time again, because who doesn’t want to feel as if they’re beating the system?

A few ways to avoid being blinded by the halo effect:

Stick to a grocery list like your budget depends on it, because it probably does.Click the “Reorder” button when shopping for same-day Costco delivery on Instacart. It’s a fast way to re-buy your usual purchases, and you skip browsing through tempting stuff you don’t need.Time your visits strategically. Hit Costco when you’re full and in a rush. Hungry browsing leads to costly mistakes, like 12-taco platters.

Next time you find yourself drawn to the siren song of savings, ask yourself: “Do I really need this industrial-sized pack of glow sticks?” The answer might surprise you. Or not. Either way, I’ll see you in the checkout line, because let’s face it — we all love Costco.

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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.Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Cole Tretheway has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.

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Many travelers assume business-class airfare is out of the budget. But here are two ways to score a cheaper ticket. [[{“value”:”

I would always fly in business class if I had an endless supply of money in my checking account. But that’s not the case. So, I take advantage of low-cost ways to fly in a premium seat when I get the opportunity. I’ve been lucky enough to fly in business class several times — but only when the price was right.

Want a more comfortable flying experience? You may be able to afford to fly on a premium ticket. I’ll share two affordable ways to fly in business class.

You can score a cheap upgrade on your next flight

Buying a business-class ticket isn’t the only way to fly in a premium seat. Another option is to upgrade an existing ticket. If an upgrade is available and the price is right, you can score an affordable seat upgrade for your next flight.

Spending thousands of dollars for an international long-haul flight ticket isn’t my idea of a good time. But spending a few hundred dollars to upgrade my existing ticket is ideal. The easiest way I’ve been able to do this is by taking advantage of in-app upgrade offers. Before your next flight, check if your airline has affordable upgrade opportunities.

Here’s how it works: If an upgrade is available, the airline will outline the options and the fee required. The price listed is the amount you must pay to upgrade your ticket, in addition to what you already paid for your initial ticket. If you see an upgrade opportunity you like, follow the prompts to accept it and submit payment details.

Want to earn cash back rewards when you book flights and hotels? Click here to see our list of the top cash back credit cards to learn how easy it is to get rewarded.

Airfare deals can unlock cheaper premium tickets

My favorite way to fly in business class is by booking airfare deals. The standard cash price for a premium ticket can be expensive. However, some airlines discount the cost of premium tickets. If you can score a business-class ticket on sale, you can fly for cheap.

I subscribe to a flight deal service to find business-class airfare deals. This allows me to stay in the know without having to manually search for discounted flights myself.

Here’s how it works: I get an email alert when business-class deals are available for my preferred departure airport. If I like the deal, I can book a ticket directly with the airline.

Several companies provide this service. One example is Thrifty Traveler Premium. I’ve been a member for two years. I pay about $100 a year for its flight deals service, and I have saved thousands of dollars on airfare, so it’s been a worthwhile investment.

If you’re a frequent traveler and want to fly in style without overspending, a flight deal subscription could help you unlock more affordable premium flights. Consider whether this kind of subscription aligns with your budget and goals before signing up.

Save money on travel by earning rewards

Whether flying in economy or business, take advantage of the chance to earn travel rewards. One way is by joining airline loyalty programs. When you fly with your favorite airlines, you can earn miles and later redeem them for award flights. This strategy could help you save on travel.

You can also maximize your savings when you swipe your credit card for travel purchases and earn points, miles, or cash back. Ensure you’re paying for airfare and other travel expenses with a credit card that earns rewards. Otherwise, you’re missing out. Explore our list of the best travel credit cards with big rewards.

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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.
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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