Money Management

Business grants, loans, credit cards, partnerships, and crowdfunding can help you grow your business with minimal risk. Learn how to fund your business here. [[{“value”:”

While the reported statistics vary, between 70% and 90% of business startups fail. I know that isn’t a great stat to start an article about funding your startup, but it’s important to go into business with a clear understanding of the risks.

If you mortgage your house, clear out your bank account, and borrow from everyone you’ve ever met, there’s a good chance you’re going to go broke. Don’t worry, there is good news. There are several ways to get your startup off the ground without selling the farm.

Small business grants

Small business grants are funds offered by different organizations that do not have to be paid back. Generally, they’re provided to small groups based on shared traits. For example, a veterans group might offer grants to other veterans.

The Small Business Administration provides grants for veterans, community organizations, and educational organizations. Your state or county Chamber of Commerce may offer grants or maintain a database of available grants.

While grants do not have to be repaid, businesses often have to apply and meet specific criteria that can vary by grant. Grants can also be very competitive, with far more applicants than funds to go around.

Small business loans

Not all debt is bad debt. Small business loans through reputable organizations like the SBA can help you access funding. Most small business loans have favorable terms and may even offer lower interest rates if you have a decent credit score. Depending on the loan provider, you may be able to access funding much faster than using other methods, like grants or crowdfunding.

Crowdfunding

Platforms like Kickstarter and Indiegogo allow new business owners to raise funds by gathering small contributions from a large number of people — without giving up equity in their businesses. By showcasing your ideas directly to your target audience, you can receive financial support from people who believe in your business model.

To be successful, you’ll need to tell a compelling story and explain why your business exists and what problem it solves. Offering incentives or perks — such as early access, limited editions, or personalized thank yous — can encourage people to contribute.

By providing incentives and fostering a sense of community around your project, crowdfunding can be a highly effective way to raise capital without losing ownership of your business.

Business credit cards

Business credit cards are a fast way to get funding, access to rewards programs, and a chance to build business credit. They provide flexibility in managing cash flow, especially for short-term expenses. For example, you can put the cost of manufacturing on a credit card and then pay the bill when customers buy the items. Or, if you own a food truck, you could purchase food items and then pay the bill with your monthly profits.

However, this strategy can also be risky — for example, if your stock doesn’t sell quickly, you may be stuck with a bill you can’t pay. Credit cards also tend to have a higher interest rate than business loans. Relying on business credit cards long term can impact your business’s financial growth by making it harder to secure funding later due to business debt.

Strategic partnerships and bartering

If you’re willing to network and get creative, strategic partnerships or bartering with other businesses can help you secure resources without risking your business’s financial future. By aligning your company with complementary businesses or service providers, you can access skills, services, or products that your business needs.

For example, a marketing agency might offer social media services to an IT company in exchange for website or networking support. To avoid misunderstandings, write up a contract to make sure both companies understand the specific terms of the trade. Both sides should feel the arrangement is equitable.

When considering funding options, it’s important to compare all the options and find the best fit for your business. Whether you use grants, loans, crowdfunding, credit cards, or partnerships, a thoughtful approach will help you fund your business without jeopardizing future opportunities or financial stability.

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.
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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Credit card rewards are an underrated way to save money. Learn how I’m saving over $2,500 thanks to three new rewards cards I recently opened. [[{“value”:”

When people look for ways to save more money, they usually don’t think of getting a new credit card. But you can actually save quite a bit this way. Case in point: I recently opened three top credit cards in less than a month, and it’s going to save me thousands of dollars.

I’m doing this by earning credit card welcome offers. If you have good credit, keep reading to learn exactly how you can take advantage of these bonus opportunities.

Using welcome offers to earn over $2,500

A welcome offer is a bonus you earn by opening a credit card and meeting certain conditions. With most cards, you need to meet a spending requirement. For example, spend $500 with your new card in the first three months, and you earn a $200 bonus. Or spend $6,000 in the first six months and earn 60,000 bonus points.

The cards I opened have the following welcome offers:

Earn 120,000 bonus points (worth $1,500 in travel) for spending $8,000 on purchases in the first three months.Earn 50,000 bonus points (worth $750 in travel) for spending $4,500 on purchases in the first three months.Earn 40,000 bonus points (worth $400 in travel) for spending $3,000 on purchases in the first six months.

That’s a grand total of $2,650 in travel rewards. I’ve already earned one of them, and I know I’ll have more than enough time to earn the other two.

Now, there are lots of credit card welcome offers available, and some are much better than others. I realize it can feel hard to find a card with a good bonus. To make it easier, explore our curated list of the best credit card welcome offers.

How to make the most of credit card welcome offers

Welcome offers can be one of the most valuable credit card perks. But if you’re not careful, you could miss out on your card’s welcome offer entirely, or it could end up costing you money. Here are a few tips to ensure you come out ahead.

Pick a card with rewards you can use

As you saw above, I went with three travel cards. Travel rewards cards tend to have bigger welcome offers, but their rewards can be trickier to use. If you’re considering a travel card, see how points are redeemed to make sure you can use them. If you want to keep it simple, cash back cards are a safe choice.

Check that you can meet the spend requirement

If you won’t be able to meet this with your upcoming bills, you’re better off choosing a different card. So if you normally spend $1,000 on your credit card per month, don’t get a card with a welcome offer that requires spending $4,000 in the first three months.

The exception is if you have some big, one-time expenses coming up. That was the case for me; I had some large purchases to make, so I felt comfortable applying for multiple cards with separate spend requirements.

Keep track of your spending until you earn the bonus

Some card issuers provide bonus trackers in your online account. These make it easy to track your progress. Or you can track your spending manually using your credit card statements and online account balance. Note that only purchases count toward spend requirements — annual fees and balance transfers don’t.

You can check how much you still need to spend to earn the bonus by contacting the card issuer. If you don’t get a confirmation once you think you’ve spent enough, reach out to customer service to ask if you’ve met the requirement.

Don’t go into debt for a welcome offer

It’s not worth overspending to earn a welcome offer. You’ll have debt to pay off, and it will likely be expensive debt, since most credit cards have high interest rates. Even when you’re working toward a welcome offer, you should pay off your credit card in full every month to avoid debt and interest charges.

You don’t need to go on an application spree like I did, but applying for a new credit card on occasion could be a smart move. Take a little time to check out what credit card offers are available every six to 12 months. You might find a card you like with a lucrative welcome bonus.

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.
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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If you shop at Costco enough, you can get your membership for free. Here’s what it takes to breakeven at the warehouse club. [[{“value”:”

Costco is different from other stores in that it charges members a fee for access. You don’t have to spend money simply to walk through the door at Target or Walmart. But at Costco, you’re looking at a minimum of $65 per year for a Gold Star membership. The Executive membership, which gives you 2% cash back on your purchases, costs $130 a year.

But if you upgrade to the Executive membership, you may end up getting your Costco access for free. Here’s how.

It’s a matter of how much you spend at Costco

The great thing about Costco’s Executive membership is that it gives you cash back on not just everyday items like groceries, but almost every item you might buy at the store — and more. If you book a vacation through Costco, for example, you’re eligible for 2% back. The same applies to things like electronics, furniture, and major appliances.

Of course, an Executive membership isn’t the only way to get that cash back. Click here to review our list of top credit cards that offer big rewards at Costco.

But if you want your $130 Executive membership fee to pay for itself entirely, all you need to do is spend $6,500 a year on Costco purchases. That may not be a difficult thing to do if you shop at Costco almost every week and also make a few larger one-off purchases.

For example, say you go to Costco three times a month, or 36 times a year, and spend $150 each visit. That’s $5,400 right there. Then, if you buy a laptop for $1,100 or a TV that costs the same, you’re at $6,500, which means your membership costs you nothing.

Or, let’s say you only go to Costco twice a month, or 24 times a year, and spend $150 per visit. That’s $3,600.

But if you then book a $3,000 vacation, you’re at $6,600, which means you not only get your $130 Executive membership fee back, but you also walk away with an additional $2. That’s enough to buy you a hot dog and soda combo from the Costco food court and leave you with a bit of change.

There’s no risk in upgrading your Costco membership

If you stick with Costco’s basic $65 Gold Star membership, you won’t earn cash back and therefore won’t have a chance at getting your membership fee reimbursed. But if you’re worried you won’t spend enough to make the Executive membership upgrade worth it, know this.

Costco will make sure you get your money’s worth. If you don’t earn at least $65 in cash back (the cost of the upgrade), you can downgrade to the basic membership and get the difference returned to you from Costco.

For example, say you only spend enough at Costco to earn $50 in cash back on your Executive membership. If you downgrade, Costco will give you $15 at the time you’re switched over to a basic membership. This means you’re not out any money on the upgrade fee, making it risk-free.

Even if you don’t earn enough cash back on your Executive membership to get your full $130 reimbursed, you might still end up ahead financially compared to sticking with a basic membership. And since there’s no risk in upgrading, you might as well try to maximize your Costco membership.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
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 positions in Target. The Motley Fool has positions in and recommends Costco Wholesale, Target, and Walmart. The Motley Fool has a disclosure policy.

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Do you need help deciding whether to apply for a second credit card or stick with one card? Find out whether you can benefit from getting another credit card. [[{“value”:”

Credit cards can add convenience to your life. Some people have only one credit card, while others depend on a multi-card strategy. But before getting additional credit cards, consider whether that’s a good choice. Don’t neglect to think about how your decision will impact your finances.

Could you benefit from having multiple credit cards? It’s possible. Here are a few things to consider to help you decide whether you need more than one credit card.

Consider your goals and reason for using credit cards

When deciding whether you need another credit card, consider your financial goals. What are you looking to gain from using credit cards?

Here are some questions to ask yourself:

Are you looking to improve your credit?Do you want to learn how to manage your money better?Do you need help financing an upcoming expense?Are you hoping to earn more credit card rewards?

Pondering the answers to these questions can help you determine whether it’s worthwhile to apply for an additional credit card. There’s no reason to add a new card to your wallet if you don’t have a plan for how it will help you or improve your life.

The benefits of using more than one card

Some people may benefit from having more than one card in their wallet. One example is those looking to maximize credit card rewards. Using rewards credit cards that offer bonus rewards in your top spending categories is an excellent way to earn rewards faster.

Meanwhile, having a flat-rate cash back credit card that rewards you for purchases outside these categories can help you maximize the rewards you earn for everyday purchases. This is one example of how having multiple cards can be a smart move.

Want to boost the credit card rewards you earn with another card? Cash back rewards cards are a popular choice for many people. Explore our list of the top cash back credit cards to learn how each card earns rewards.

Another advantage of having more than one card is access to more plentiful perks. Many of the credit cards highlighted above include useful benefits that can add value to your life.

One example is trip cancellation and trip interruption insurance. Many of the best travel rewards credit cards provide travel perks like this, which may appeal to frequent travelers.

Since perks can vary from card to card, you may benefit from having more than one to take advantage of as many perks as possible. But always review the perks provided and consider whether you’ll get value from them before applying for a new card. If you won’t use the benefits, it may not be the right fit for you.

Some people may want to stick with one credit card

Some people’s goals may not align with using multiple cards. If you’re new to credit cards or are learning to develop healthy spending habits, consider starting with one card.

This way, you can learn how to manage your money and make careful decisions that help you build credit and maintain a good credit score before juggling multiple credit card accounts. Remembering to pay all of your credit card bills each month takes effort.

If you make late payments, you’ll be charged late fees. Plus, you may end up with negative marks on your credit report because of late payments. Since your payment history is the biggest factor in your FICO® Score, on-time payments are necessary for healthy credit.

Are you already in credit card debt? If so, ensure you pay off your debt before continuing to use your current card or getting a new one.

Credit card interest is costly, and interest charges can add up fast. According to the Federal Reserve Bank of St. Louis, the average credit card interest rate on cards that charge interest was 22.76% in May 2024. Don’t risk racking up more high-interest debt.

If you have existing debt, you’re not alone. It’s essential to prioritize paying down your debt. If you need help developing a payoff strategy, check out our list of the best debt payoff apps. Digital tools like this can make your goals feel more manageable.

Don’t rush to get another credit card

Take your time before applying for another card. Consider your current financial situation and decide whether getting an additional card will help you reach your goals or add more value to your life. If you already struggle to manage money or are in debt, you should hold off on getting another card and focus instead on improving your finances.

But if you can benefit from having more than one credit card, such as accessing additional benefits or earning more rewards, you may want to apply for another card. Finally, review the credit card’s features, benefits, and fees before applying so you can be sure the next card you choose is an ideal fit for you.

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.
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 you looking to maximize your savings on everyday purchases? Find out how your credit card can save you more money when you shop. [[{“value”:”

Unfortunately, everyday living costs continue to rise. A study by The Motley Fool Ascent compared the average monthly expenses for Americans in 2023 to 2013 using U.S. Bureau of Labor Statistics (BLS) data. In 2023, Americans spent an average of $6,440 per month on expenses. That’s an additional $2,182 spent monthly compared to 2013.

One way to combat price increases is to take advantage of more ways to save money beyond purchasing only on-sale items and store-brand essentials instead of name-brand finds. By maximizing your savings, you can keep money in your checking account.

Believe it or not, your credit card may unlock additional savings. Do you use credit cards to pay for purchases? You may be ignoring strategies that allow you to save money when swiping your card.

Earn cash back rewards

Using a cash back credit card is an easy way to get rewarded when you spend money on everyday purchases. Some cash back cards offer flat-rate rewards, where you earn a set rate for every purchase you make with your card. So a flat-rate 2% cash back card would reward you with 2% back on every purchase.

Other cards offer bonus rewards in select categories. You might earn 3% on gas and grocery spending, but only 1% on purchases outside those bonus categories. It’s wise to choose rewards cards that match your spending to maximize the rewards you earn.

Some cards allow you to redeem your cash back directly to your bank account or by receiving a check. Alternatively, many cards allow you to redeem your earnings as a statement credit to your account, which will make your next bill cheaper.

A cash back credit card can help you maximize your savings when you shop. Check out our list of the best cash back credit cards to discover how easy it is to save money by earning cash rewards when you swipe your card.

Using a credit card that earns cash back rewards is a smart financial strategy because it can help you earn money back when paying for expenses, like groceries and gas. Just be sure to pay off your entire statement balance every time your credit card bill arrives. This way, you’re not charged interest for using your card. It’s in your best interest to avoid credit card debt.

Activate money-saving credit card offers

I have another way your credit card can help you save: credit card offers. Many credit card companies promote money-saving offers that cardholders can activate to earn cash back rewards when shopping with participating retailers.

You can browse credit card offers like this through your card issuer’s website or mobile app. Offers can expire, and new offers are added regularly, so it’s wise to check your offers often.

One example of such a program is Chase Offers. Eligible Chase cardholders can activate offers that interest them and use their Chase credit cards to make eligible purchases. Once the offer terms are met, cardholders can earn cash back posted to their credit card account. While you won’t get a direct discount on your shopping bill, you’ll earn a statement credit to your credit card account, which is similar to getting a discount at checkout. Talk about a win!

Some examples of recent offers I’ve seen include 10% back on Lululemon for a maximum of $16 cash back and 10% back on Aloft Hotels bookings of $100 or more for up to $57 back. I use this strategy to save money when paying for in-store and online purchases. Most recently, I earned 10% back when ordering new bedding online from Quince — saving me $30.

Some of the retailers you already spend money with likely participate in such programs, so don’t ignore a way to keep more money in the bank by activating credit card offers.

Every dollar you save makes a difference

Don’t miss out on savings opportunities. Credit cards can help you save money and earn rewards. Every dollar you save or earn can help you improve your financial situation. Want to learn more about the most popular features of some of the top credit cards? Review our list of the best rewards credit cards to discover how other credit card benefits can add value to your life.

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.
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.JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.

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You’ll earn around $800 per year in interest if you put $20,000 in a HYSA today. But there might be better options. Keep reading to learn more. [[{“value”:”

Despite the Fed recently dropping its benchmark interest rate, high-yield savings accounts (HYSAs) are still a great place to park money you’re likely to need in the near future. Unlike stocks, which are at the mercy of market fluctuations, and certificates of deposit (CDs), which penalize you if you pull out your money before the term is up, high-yield savings accounts have virtually no risk and deliver a higher rate of return than traditional savings accounts from brick-and-mortar banks.

How much can you expect to make if you put your nest egg in a HYSA? Let’s look at the numbers.

You can earn $800 or more in 12 months if you put $20,000 in a HYSA

Interest rates have started to drop, but HYSAs are still offering solid annual percentage yields (APYs) between 4.00% and 5.00%, depending on which bank you choose. This means for every $10,000 you put in, you can earn around $400 per year; so $20,000 will earn you $800 in 12 months.

The average rate of return for the S&P 500 in 2024 so far is 15.44%, so you could earn a higher rate of return by investing. But those pesky market fluctuations mean you could also lose money over the short term.

The best place to put money you’re likely to need soon is in a HYSA in most cases. (This means your emergency fund, a house down payment if you’re planning to buy a home soon, or savings for a potential car repair.)

Not sure which savings account is right for you? Click here to learn more about our best high-yield savings accounts — and what APY you can expect.

What about the federal funds rate cut?

If you’ve been following financial news in any way, you’ve probably heard that the Federal Reserve recently cut its benchmark interest rate. That sounds like a big deal, and it is — but the actual percentage was pretty small. The Fed reduced the federal funds rate by 0.50 percentage points, from 5.33% to 4.83%.

Let’s look at what that looks like for $20,000 in a savings account:

The difference in interest earned between the new and old APYs is $100.

Keep in mind that the interest rate set by the Fed is higher than what most HYSAs offer — they tend to offer a few points less in interest. The Fed interest rate is generally closer to what you can expect to pay if you borrow money.

Consider other options to grow your savings faster

A high-yield savings account is the best place for your emergency fund and cash you plan to need in the next two to three years. The higher interest rate is a nice bonus, but it’s not always the best way to make the most of your savings.

For long-term savings, like retirement or sending the kids to college in 15 years, you’re better off opening a brokerage account and creating a diversified investment portfolio. Diversification reduces your risk by spreading it out over multiple types of investments. If you don’t plan to need the money soon, consider moving some of your savings from a HYSA to an investment account for higher long-term returns.

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.
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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