Money Management

If you push your luck at Costco, you risk losing your membership. Read on to learn more. [[{“value”:”

A Gold Star Costco membership costs $65 a year thanks to a recent fee hike on Sept. 1, while an Executive membership costs $130 a year. For some people, these fees aren’t worth paying. But if you love shopping at Costco and go there often, then it could be well worth the $65 or $130 to give yourself access to the store. What you spend on a membership, you might more than make up for in the form of money saved throughout the year.

But if you’re not careful, you could put yourself at risk of losing your Costco membership. Here are a few actions that might cause the warehouse club giant to take your membership away.

1. Abusing the return policy

Generally speaking, Costco allows members to return any item at any time for a full refund. There are limited exceptions, such as electronics, which only give you a 90-day return window, or gift cards, which cannot be returned at all.

But for the most part, you’re free to take back items you don’t want or need. And you can even take back fresh food due to quality issues, or on the basis of not liking the taste.

However, if you abuse Costco’s return policy, then the warehouse club giant may decide it no longer wants you shopping there.

Now, the tricky thing is that there’s no specific number of returns that could lead to that situation. It would almost be easier if Costco were to say “If you return more than 10 items per month, your membership is at risk.” Instead, it’s largely at Costco’s discretion. Because of this, you’ll want to make sure your returns are reasonable.

If you return a rug that’s worn and stained 12 months after buying it, Costco isn’t going to look kindly upon that. And if you return a bakery purchase on the basis of its taste being “off” but you only bring back one-fourth of that cake, you may not only be denied a refund, but you might get your account flagged. So while you generally don’t have to stress about returning things to Costco, you should be a bit careful and make sure you’re not taking advantage.

2. Abusing the cancellation policy

Costco guarantees complete satisfaction with its memberships. As such, you can cancel at any time during the year for a full refund. But if you wait until you’ve had a membership for 364 consecutive days and you cancel right before the one-year mark, you can bet that Costco won’t let you renew your membership a day or a week later.

On the other hand, say you join Costco in February but decide in March that you’re not going there often enough. If you cancel but then decide to try it again the following February, you probably won’t have a problem.

3. Abusing employees

It should go without saying that treating employees poorly is a pretty terrible thing to do — at Costco and elsewhere. But if you abuse the store’s employees verbally or physically, you’re basically asking to have your membership taken away.

Costco makes a point to offer great customer service. So if you’re unhappy about a given situation, it could help to take some time to cool off and come back to talk to a representative once you’ve calmed down.

Costco isn’t in the habit of revoking memberships for no good reason. It relies on its membership fee revenue to stay profitable and offer up great deals. But if you take advantage of the store’s return or cancellation policy, and you treat Costco’s employees poorly, then you could end up banned from Costco — either for a period of time or, in an extreme situation, potentially for life.

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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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Niche markets increase the chances of entrepreneurial success. Here are five unique small business ideas that stand out in a crowded marketplace. [[{“value”:”

When most people think about starting a small business, they often gravitate toward familiar ideas like opening a restaurant, launching an online store, or starting some sort of freelance business. The problem with these sorts of ideas is that, while they can be successful, the marketplace for them is crowded. And that makes it difficult to stand out.

Sometimes, you need to zig when others zag. So for those willing to explore less conventional paths, here are five hidden gems that can offer unique opportunities for success.

1. Specialty maintenance services

The typical “maintenance business” usually involves being a handyman or a housekeeper. But how many handymen can one town keep busy? The trick to standing out is to, as Apple once suggested in an ad campaign, “Think Different.”

There are all sorts of unique maintenance services you could start:

Pool and spa cleaningMaintenance for gyms, yoga studios, and other workout facilitiesPower washing homesGutter cleaning and chimney sweeping

2. Mobile elder care

It’s no secret that baby boomers are getting older. According to Pew Research, 10,000 boomers are turning 65 every day. For the intrepid entrepreneur, this equals opportunity.

The baby boomer generation is a bit different as they tend to be healthier and more mobile than previous seniors, due to health fads that began in the 1970s, as well as better nutrition and medicine. Since many aging boomers are living in their homes longer, mobile elder care services have become a thing.

These services can include in-home hairdressing, tech support, shopping, or massage. By catering to those who are not fully mobile or prefer the comfort of their homes, you can begin to serve an underserved market.

3. Social media for small businesses

Yes, we are all on social media these days, and yes, we all know how to use it. That said, many small business owners either: A) don’t really know how to use it to promote their business, B) don’t have the time or interest in doing so, or C) both A and B.

That’s where you come in.

By helping small businesses with social media marketing, you can tap into a huge market with a glaring need. Fees should be significant too, especially if you are good at it, as making money for these entrepreneurs is an easy way to charge healthy fees.

4. Urban gardening solutions

Gardening has always been popular, and that trend is true even for professionals living in urban environments. The problem for them however is that urban gardening is not nearly as easy or intuitive as gardening in suburbia, where land and plants are plentiful. And that’s why helping urban gardeners is a hidden gem.

Most urban dwellers have neither the time, expertise, nor space to cultivate their own gardens. But if you have this skill — or are willing to learn it — then you can charge a hearty fee helping people design, set up, and maintain small-scale gardens, be it on rooftops, balconies, decks, or in small backyard spaces.

5. Subscription boxes for niche hobbies

Last year, my kids bought my wife and me a subscription box for our sweet dog Hazel. And so now, every month, Hazel gets a box of goodies. So yes, if you think there may be a boom in subscription boxes, I would agree.

But here’s the thing: As with anything on this list, you’ll find less competition catering to niche audiences than you would going big and broad, like subscriptions in the fitness, beauty, or health field.

For example, there could be untapped potential in serving enthusiasts of more obscure pastimes such as vintage toy collectors, rock and mineral enthusiasts, or even knitting and crochet aficionados. By catering to passionate, yet underserved communities, you could build a loyal customer base with less competition.

Tried-and-true businesses are, well, tried and true. They work, but the downside is, there are a lot of people doing them. Instead, consider tapping into niche services or markets that are often overlooked. By doing that, you can find your own corner of the business world that is fulfilling and profitable.

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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 positions in and recommends Apple. The Motley Fool has a disclosure policy.

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It’s the dream of many people to leave the workforce while they’re still young enough to enjoy it. Check out some tips for doing just that. [[{“value”:”

Are you the live-to-work kind of person, energized by your career and driven to climb the ladder? Or are you more of the work-to-live type who wants to succeed at your job, but not at the expense of enjoying life?

If you’re the latter, you’ve probably given some thought to what it would take to retire ahead of the average retirement age of 62, according to MassMutual. Whether you want to set your future self up with more time to travel, volunteer, or be with family, achieving an early retirement can be a blessing — but it’s not without some sacrifices.

I’m no financial advisor, so I can’t tell you exactly what budgeting steps to take to clock out for the last time before your first gray hair arrives. But here are some tips everyone should follow, especially if you want to leave the workforce early.

1. Live within your means and prioritize saving

It’s certainly appealing to spend your money today rather than put it away for the future. After all, you work hard, right? And tomorrow isn’t guaranteed. Why not enjoy today while it’s here?

Well, no matter how bleak the news seems these days, history shows us that tomorrow always comes. And future-you will be pretty miffed if you don’t leave them anything to live off of. That’s why it’s important to keep your spending reasonable for your income.

While it’s easy to charge up a credit card with money you don’t have, that will cost you a lot more in interest over time. Instead, keep your spending in check and put some money into a high-yield savings account every month so your nest egg will grow over time.

2. Invest in a brokerage or retirement account

One of the easiest steps you can take toward early retirement is setting up an account that lets your money earn money for you. Investing in a brokerage account or individual retirement account (IRA) can let you do just that.

Over the past 50 years, the average annual stock market return has been 10%. That accounts for both good years and bad years. If you’re in your early 20s (congrats on not having back pain yet) and put $10,000 into an investment account, it could be worth over $73,000 in 20 years. And that’s assuming you don’t add any more to the account over that time, which I know you’ll do with all the savings from following tip No.1.

3. Enjoy yourself!

I’m not a monster! Life is meant to be lived, so you should be out there doing just that. Buy that ice cream sundae! Take that weekend trip with your friends! Treat yourself to that massage!

While the first two points are higher on this list for a reason, you don’t want to lean too far in the other direction and live a bland existence for years just so you can let loose eventually. If you focus solely on the future, you’ll miss out on a whole lot of life right now.

It’s about balance

If we’re lucky, we get to play this game for a long time…but we only get to play it once. You need to make sure you’re taking care of yourself both today and years from now.

If you haven’t already, take some time to make a financial plan. Hopefully, you can carve out a little extra money now that can compound and grow over the years, allowing you to retire earlier than the average. But make sure that budget accounts for life’s pleasures today, too.

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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 carries a wide variety of home improvement products. Here’s why you might want to pay more attention to them. [[{“value”:”

My husband is nothing if not predictable. Every time we walk into a Costco, he finds his way to the home improvement aisles. I sometimes follow behind, trying to be a good sport. I have never understood how he can find so much pleasure in looking at toilet seats, security lights, and plank flooring.

While I’m sure some shop at Costco solely to protect their household budgets, my husband is lured to the warehouse store by the thought of examining the latest selection of screwdrivers and lightbulbs.

In all fairness to him, he recently installed great motion sensor lights near our front and back doors, and we never (ever) run out of lightbulbs. And if there’s ever a zombie apocalypse, we’ll be able to corner the market in batteries. He almost always picks up a pack before leaving those aisles.

Costco’s home improvement offerings

It was not until our last shopping excursion that I realized what a fool I’ve been for not taking greater advantage of Costco as we’ve remodeled our home. While we were fortunate to find a home to buy in the summer of 2022, we knew buying it meant having our hands full with home improvement projects. Everything, from flooring and cabinets to installing a patio and adding a privacy fence, required our attention — and money.

And yet, after years of solemnly following my husband up and down his favorite aisles at Costco, I made most of our major remodeling purchases elsewhere. Honestly, I’m not sure what I was thinking. An essential piece of financial literacy is shopping smart — looking for the highest-quality products we can find at a price we can afford. I do believe I have failed on that front, at least with this home improvement project.

Recently, I’ve been looking at Costco’s home improvement offerings and comparing them to my purchases. Here’s where we would have been money ahead by buying what we needed from the warehouse giant.

Flooring

Costco offers numerous options, including luxury vinyl planks, foam flooring for playrooms and gyms, and attractive garage flooring. To give you a better idea of potential savings, I compared Costco’s prices to those of other flooring retailers on several different flooring types.

Golden Arowana Beach House Waterproof Engineered Wood Flooring with attached 1mm Pad

Costco price per 16.68 square feet: $65RJP Unlimited price per 16.68 square feet: $76

Mohawk Home Waterproof Luxury Vinyl Plank Flooring (15.65 sq ft/ctn)

Costco price per 15.65 square feet: $45ShopEZ price per 15.65 square feet: $59

Norsk Reversible Foam Flooring for Gyms and Multi-use

Costco price per 48 square feet: $65Amazon price per 48 square feet: $109

Interior lighting

Our main floor consists of three bedrooms, two baths, a long hallway, a kitchen, dining area, and living room. In other words, it’s where guests are most likely to hang out when they visit.

Because so much of it is open, it’s pretty noticeable if installed lighting fixtures don’t match. I’ve never had to replace so many fixtures before and was surprised at how much they cost. Again, I might have felt differently if I’d shopped at Costco. Here’s a comparison of a couple of fixtures.

Carter Long 8-Light Pendant By Artika

Costco price: $140Home Depot price: $180

Hunter Astwood 4 Light Chandelier Ceiling Light Fixture

Costco price: $160Lamps Plus price: $300

Exterior lighting

We also changed the exterior lighting because we wanted everything outside to match. At this point, I’m really regretting missing out on these Costco prices.

Feit Electric 12″ LED Coach Light Lantern, 2-pack

Costco price: $50eCrater price: $70

Tommy Bahama Square Solar Bollard Lights – 20 Lumen, 5-pack

Costco price: $49Walmart price: $60

Security

One downside of moving as often as we have is needing to depend on our real estate agent and crime maps to tell us how safe an area is. One of the first things we usually do after moving into a new home is install a basic security system. Here’s how Costco prices compare.

SimpliSafe 10-Piece Home Security Kit

Costco price: $200Walmart price: $300

Don’t get me wrong; I couldn’t have found everything I needed for the house at Costco. However, I do wish I’d checked there first. It just goes to show that no matter how much you research, write about, and think about personal finances, getting it right every time is not always in the cards.

Hopefully, you’ll learn from my experience. The next time you’re in Costco, challenge yourself to see if there’s anything in a home improvement aisle that blows your hair back. If so, I’m sure my husband sends his greetings.

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.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Dana George has positions in Amazon and Walmart. The Motley Fool has positions in and recommends Amazon, Costco Wholesale, and Walmart. The Motley Fool has a disclosure policy.

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Thinking of joining Sam’s Club? Read on to see why you may want to reconsider. [[{“value”:”

Joining a warehouse club store could make it possible to save money on groceries and other household essentials, even though there’s a fee to sign up. At Sam’s Club, you’ll pay $50 a year for a basic membership, or $110 a year for a Plus membership that gives you 2% cash back on your purchases. But the savings you reap as a result of your membership might more than make up for the fee you pay.

That said, there are certain pitfalls you might encounter if you decide to join Sam’s Club. Here are some less obvious drawbacks to keep on your radar.

1. It could open the door to overspending

Sam’s Club is loaded with deals on not just groceries and things like cleaning products, but everything from apparel to electronics. Because your brain might be wired to assume you’re getting a great deal, you may find it hard to say no to tempting purchases when you do your Sam’s Club shopping. But that could lead to frequent overspending on your part — and a giant credit card bill you have a hard time paying off.

If you decide to give Sam’s Club a try, one way to prevent this is to shop with a list and pledge to stay out of aisles that don’t contain any items you want to buy. If you don’t walk into the apparel section, for example, then you’re unlikely to bring home clothing you weren’t planning on buying.

2. It could cause undue stress if your home lacks storage space

Finding the room to store your Sam’s Club purchases could be a challenge if your home doesn’t offer much storage space. It’s a nice thing to save money on paper towels by purchasing them in bulk. It’s another thing to have to keep them in your bedroom, where you risk tripping over them every night, because your tiny storage closet is already full.

Similarly, if you have a smaller fridge or freezer, then you might have a hard time storing bulk perishable goods. And sure, you could try shuffling things around to make the occasional bulk purchase work. But Refrigerator Tetris is not the sort of game you want to force yourself to play on a daily basis.

3. It could make budgeting more difficult

Shopping at a store like Sam’s Club often means shelling out more money at once for certain purchases. Let’s say you normally buy one box of tissues at a time when you do your shopping. You might pay less on a per-box basis at Sam’s Club. But if you’re buying 12 boxes at a time, it’s a larger outlay all at once.

All told, buying household and grocery items in bulk could make it harder to stick to your budget. So if you’re on a tight one, you may be better off sticking to buying smaller quantities.

Stores like Sam’s Club offer plenty of value, especially if there’s one conveniently located where you live. But before you rush to sign up for a membership, keep these drawbacks in mind so you don’t regret your decision or end up accidentally making your life more difficult.

Alert: highest cash back card we’ve seen now has 0% intro APR until nearly 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.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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