Money Management

Combining food court orders at Costco could make for a wildly delicious — if not greasy — meal. Read on to learn more. [[{“value”:”

There are many benefits to being a Costco member. For one thing, shopping at Costco sure makes my grocery bills cheaper. And if you’re planning a vacation, booking through Costco could mean paying less for a cruise, resort, or theme park package.

But one unquestionable benefit of joining Costco is getting access to the store’s food court. And to be clear, you can’t just waltz in as a non-member like in the past and pick up a cheap lunch.

Costco has been cracking down on food court access for non-members. So if you want a taste of that delicious, inexpensive food, you’ll need to pony up $60 for a basic membership or $120 for an Executive one. And come September, these prices are rising by $5 and $10, respectively.

Now many people are familiar with Costco’s famous hot dog and soda combo. At a price of just $1.50, it’s hard to find a prepared meal for less. But recently, my husband and I joined forces to pull off a ridiculous Costco food court hack. And while it was undeniably delicious, it isn’t for the faint of heart.

When you combine two great deals into one

Because the food court menu items at Costco are so inexpensive, it’s easy enough to play around with different hacks that have the potential to result in a very tasty meal. Such was an experiment my husband and I recently undertook.

Here’s how it went down. We were shopping at Costco when our stomachs got rumbly. My husband usually gets a hot dog and soda combo and calls it a day, while I usually get either an ice cream or a slice of pizza. But on this particular day, my husband felt like having something different, so I suggested that he get a slice of pizza.

He was on board — except, well, he always gets the hot dog. So from there arose an idea — why not ditch the not-so-spectacular hot dog bun and wrap the hot dog in a slice of pepperoni pizza?

Now as a vegetarian, I can’t pretend that the idea of this meat lover’s pizza roll-up was appealing to me, even though I came up with it. But my husband said it was fantastic. And best of all, it didn’t come close to breaking the bank.

Even though he paid $1.50 for the hot dog plus soda and $1.99 for the pizza slice, he got a rich, filling lunch for just $3.50. It’s hard to find lunch on the go for less elsewhere, even at fast food joints.

Costco’s food court is loaded with deals

You may not be so inclined to go to Costco for the express purpose of grabbing a food court meal. But while it’s usually better, financially speaking, to prepare your own meals at home rather than buy them outside the home, Costco’s food court is an exception to that rule. Some of the items on the menu are so inexpensive that you can spend the money without absorbing a budget hit.

In fact, in addition to the hot dog meal, one of the best deals at the Costco food court is a large-sized pizza for just $9.99. In my area of New Jersey, a whole pizza is usually $20 or more. And there, you don’t get as much pizza for your buck.

All told, it’s not a bad idea to plan on grabbing a quick meal at Costco’s food court if you’ll be doing some shopping there — at least not financially. Nutritionally speaking, well, that’s a different story.

But hey, if you’re going to grab a Costco hot dog or pizza slice — or, in the case of my husband, both — you can always offset it with some low-cost produce in bulk, or a large package of salad. That way, you, too, can enjoy a meat lover’s pizza roll-up at Costco without feeling too guilty about it.

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

If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period.

Click here to read our expert recommendations for free!

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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Opening a CD this month? Read on for ways to maximize your profits. [[{“value”:”

CDs are pretty popular these days, and for good reason. With many CDs paying APYs of 5.00% or even a little bit more, it’s hard to say no to an opportunity to snag that sort of risk-free return on your money.

But if you’re thinking of opening a CD this month, it’s important to go about the process strategically. Here are a few tips you can employ to maximize your CD profits.

1. Shop around for a great rate

You may be inclined to jump on the first CD offer you see if the rate is attractive enough. But remember, when you open a CD, you commit to keeping your money in the bank for a preset period of time — whereas with a savings account, there’s no such commitment. So if you’re going to do that, then it pays to earn as much interest as possible.

To that end, resist the urge to open the first CD you find with a great rate. Instead, keep shopping around. Look at different banks and different CD terms, and only once you’ve taken some notes and done some comparisons should you move forward with choosing one CD over another.

2. Set up a ladder

One drawback to opening a CD is that if you end up having to withdraw your money before it matures, you could face a costly penalty. Now the exact amount of that penalty will depend on your bank. But if you open a 12-month, $5,000 CD at a 5.00% APY and your penalty for an early withdrawal is three months of interest, you risk losing $62.50.

Before you decide to put all of your money into a single CD this July, consider a ladder. This has you splitting up your funds into multiple CDs with varying terms so that some of your money frees up every few months.

With $5,000, you could open five CDs as follows:

Put $1,000 into a 3-month CDPut $1,000 into a 6-month CDPut $1,000 into a 9-month CDPut $1,000 into a 12-month CDPut $1,000 into a 15-month CD (and if you can’t find this, you could do an 18-month CD instead)

Laddering your CDs doesn’t completely eliminate the risk of an early withdrawal penalty. But it could reduce it substantially.

3. Look at the big picture

You’ll generally find the best rates available today for shorter-term CDs than longer-term ones. That’s because it’s a known thing that the Federal Reserve plans to start cutting rates in the near term. Banks don’t want to offer the same CD rates for products with a 3- or 4-year term as they do for a 12-month term because that’s more risky for them.

You may be inclined to open a 12-month CD if that’s the best APY you can find. But a 3-year CD might pay you more in the long run.

As an example, say the APY on a 12-month CD is 5.00%, compared to 4.00% for a 3-year CD. With a $5,000 deposit, the 3-year CD has you earning $624 of interest in total. A 12-month CD, on the other hand, has you earning $250 your first year. Beyond that, it’s hard to know what you’ll be able to earn. But you run the risk of not getting to $624 if rates fall by a large degree in the coming year or two.

Before you rush into a shorter-term CD, look at the big picture. If you’re saving for a goal that’s a few years away, it could pay to opt for a longer-term CD for the guaranteed interest you can earn during that time.

It’s certainly a great time to open a CD based on how rates stack up. But definitely look at incorporating these tips into your CD strategy, so you can make the most money this July.

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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 membership fees are increasing. Senior shoppers should plan ahead to feel less financial impact. Find out what you need to know before your next renewal. [[{“value”:”

Costco is a warehouse club that offers its members discounted pricing on everyday goods. Many people like to shop there because of the fantastic deals. However, there is an upcoming change that shoppers should be aware of because it will impact their checking accounts.

Costco is increasing membership fees in September. Depending on the membership, the fee will rise between $5 and $10 per year for shoppers in the United States and Canada. While this isn’t a huge price rise, it’s news that may disappoint some members — especially senior citizens, who typically have limited income. Will the new higher fees be too expensive for seniors?

Costco membership costs are set to rise soon

On July 10, 2024, the retailer announced that it would be increasing the cost of annual memberships on Sept. 1, 2024. This change will impact shoppers in the United States and Canada.

The Gold Star membership will increase by $5 from $60 to $65, and the Executive membership will increase by $10 from $120 to $130 annually. While it’s not a huge price difference, this change will impact the wallets of all members, including seniors.

The membership benefits available to seniors are plentiful

Yes, paying more to be a Costco member will be an adjustment. However, seniors can get great value from a membership. Here are a few ways that seniors can save money with a Costco membership card in their wallets:

Discounted prescription drugsAffordable hearing aidsLow-cost eye exams and discounts on lenses and framesAffordable prepared meals for added convenience

Seniors should consider the perks provided and their budget to decide if they can continue to afford to invest in a Costco membership. For many seniors, it may still be worthwhile.

It’s not all bad news for Executive members

Higher membership fees aren’t the only change to expect. The retailer also announced that it would improve one of its Executive membership benefits. With this membership, you can earn 2% rewards on eligible Costco purchases, including Costco Travel bookings.

Shoppers can earn up to $1,000 annually in rewards. But soon, they’ll be able to earn even more. As of Sept. 1, 2024, Executive members can earn up to $1,250 in rewards. This additional boost is welcome news, considering they will only pay an extra $10 per year to be members.

Consider this strategy to feel less financial strain

You may be upset about this news if you’re a senior citizen who shops at Costco. But there’s one step you can take to feel less impact. I suggest saving money to cover your membership fee before your next renewal. The additional $5 or $10 increase may feel less significant if the money is already stashed in your high-yield savings account.

If you’re not yet a Costco member but have been thinking about joining, consider joining before Sept. 1, 2024. This way, you can lock in the old membership price for one year. This allows you to try Costco to determine if the higher membership fee is worth paying later.

Don’t miss out on rewards

Life is expensive, and every dollar you save adds up. Earning rewards when you shop can increase your savings. Our best strategy for saving money at Costco is to use a rewards credit card at checkout.

You can earn valuable rewards, including cash back, to maximize your savings and help you cancel out the increased membership costs. Look at our list of the best Costco credit cards to learn how each card earns rewards.

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

If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period.

Click here to read our expert recommendations for free!

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.Natasha Gabrielle 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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Thinking of getting an Executive membership at Costco? Read on for some details of the program you may not have been aware of. [[{“value”:”

Some people struggle with the decision to join Costco. And once they decide that a membership makes sense, there’s yet another decision to tackle — whether to upgrade to an Executive membership or stick with a Gold Star (or basic) one. Given that an Executive membership costs double what a basic membership does, it’s a decision worth putting some thought into.

But to make that decision an informed one, you need to know exactly how the Executive membership works.

You’re probably aware that the key difference between that and the basic Costco membership is the cash back an Executive membership gives you. But here are a few things about the Executive membership you probably weren’t aware of before.

1. The cost is going up

Right now, an Executive membership at Costco will cost you $120, while a basic membership only costs $60. But beginning Sept. 1, the cost of an Executive membership is increasing from $120 to $130 per year. And it’s not just the Executive membership. The price of a basic membership is also rising from $60 to $65 per year.

This change marks Costco’s first fee hike in over seven years. But the higher cost is something to consider, because it will now take more annual Costco spending to recoup the cost of the Executive membership upgrade.

Specifically, once the above change takes effect, it’ll take $3,250 in annual Costco spending to make back the $65 Executive membership upgrade fee. Right now, you only need to spend $3,000 to recoup the cost of the upgrade.

2. There’s a limit on how much cash back you can rack up

The primary benefit of signing up for an Executive membership at Costco is getting 2% cash back on your purchases. But that cash back isn’t unlimited.

Currently, your cash back from an Executive membership is limited to $1,000 per year. Starting Sept. 1, that limit will rise to $1,250.

Before you get too excited about that, though, realize that to even snag $1,000 back with an Executive membership, you’re looking at spending $50,000 at Costco in the course of a year. To get $1,250 back, you’ll need to spend $62,500.

So unless you’re planning to buy everyone you know a new TV from Costco for the holidays, the limit that applies to Executive membership cash back probably doesn’t even apply to you, because you’ll likely end up with a lot less. And that’s a good thing!

3. You’re guaranteed to make back the cost of your upgrade

Upgrading to an Executive membership at Costco means having to shell out an extra $60 or $65 extra (depending on the timing of when you sign up). But if you’re worried you won’t spend enough at Costco to get enough cash back to make up that difference, well, you don’t have to be.

Costco doesn’t broadly advertise this rule, but in a nutshell, you’re guaranteed to get your upgrade cost back with an Executive membership. If you don’t spend enough for that to happen naturally, you can downgrade to a basic membership and Costco will give you the difference back at the time.

So here’s how that might work. Let’s say you buy an Executive membership this fall at a cost of $130, but only spend enough in the year that follows to earn $50 in cash back. If you tell Costco you want to go back to a basic membership at that point, you can downgrade and it’ll give you back the $15 difference.

What this means is that upgrading to an Executive membership is truly risk free. So if you’re on the fence, just do it. You really have nothing to lose.

Costco’s Executive membership has the potential to be a great deal. Now that you’re aware of how it works, you can better decide whether it’s worth trying out.

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

If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period.

Click here to read our expert recommendations for free!

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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Many shoppers join Costco to save money on everyday purchases. Soon, Costco’s annual membership fees will increase. Find out why it’s still worthwhile to join. [[{“value”:”

Many money-conscious people like to shop at Costco. The warehouse club has members-only deals that can offer significant savings. But you have to invest in an annual membership to shop there. Membership prices have remained steady for several years.

However, membership costs are going up. Will a Costco membership be worth the new higher fee? For most people, the slightly higher membership fee will be worth paying because of the savings they can get and the benefits provided.

Memberships are going up $5 to $10 per year

Currently, Costco memberships cost $60 to $120 annually. The standard Gold Star membership costs $60 annually, and the premium Executive membership costs $120 annually.

But that’s about to change in the coming months. The retailer recently announced upcoming price hikes. Beginning on Sept. 1, 2024, a Gold Star membership will cost $65 annually, and an Executive membership will cost $130.

Some shoppers may be disappointed to learn about the $5 to $10 membership cost price hike. If you’re a current member or have considered joining, you may wonder if shopping at Costco is worthwhile. The answer is yes. Let me explain why.

The discounts and benefits are worth the increased cost

You’ll pay more when you renew your membership or join Costco on or after Sept. 1, 2024. If you’re trying to decide whether the annual membership expense is worthwhile, consider the potential savings you can get from shopping here and the benefits you can access.

The membership perks are plentiful. Here are a few highlights that are available to all members:

Shop members-only discounts on gasoline, groceries, household goods, clothes, electronics, toiletries, beauty products, baby care essentials, and more.If you’re unsatisfied with an item you buy, Costco has a generous return policy, allowing you to get a refund for most purchases.Get two membership cards with each membership, which allows an additional household member over 16 to shop at Costco without the primary member being present

You can access even more perks if you pay for a pricier Executive membership:

Earn 2% rewards on eligible Costco purchases, including Costco Travel bookingsGet additional savings and extras on services like check printing and car rentals booked through Costco Travel

There’s some good news for Executive members

When membership fees increase, Costco will make another change that will benefit Executive members. As mentioned above, Executive members earn 2% rewards on eligible Costco purchases, including travel.

Members can currently earn a maximum of $1,000 per year in rewards. But with the membership price increase, Executive members can earn up to $1,250 in annual rewards.

For regular Costco shoppers who spend a lot of money annually, being able to earn an additional $250 in rewards is welcome news. Paying an extra $10 per year for the great deals and valuable benefits is worth it.

Boost your rewards when shopping at Costco

If you like to save money, take advantage of the opportunity to earn more rewards when you shop at Costco. Before you pay for your purchases, consider which credit card to use.

Our favorite strategy to save money at Costco is to use a rewards credit card at checkout. You can earn valuable rewards like cash back when you load up on essentials. Earning credit card rewards can maximize your savings. Review our list of the best Costco credit cards to learn more.

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

If you’re shopping with a debit card, you could be missing out on hundreds or even thousands of dollars each year. These versatile credit cards offer huge rewards everywhere, including Costco, and are rated the best cards of 2024 by our experts because they offer hefty sign-up bonuses and outstanding cash rewards. Plus, you’ll save on credit card interest because all of these recommendations include a competitive 0% interest period.

Click here to read our expert recommendations for free!

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. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale and JPMorgan Chase. The Motley Fool has a disclosure policy.

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Financial regrets are normal. Keep reading to learn the top four and how you can sidestep them. [[{“value”:”

According to a Quicken survey, 80% of Americans regret their financial choices. We’ve compiled the four most commonly cited financial regrets — learn how to move on from these mistakes.

1. Not saving for retirement early enough

One of the top regrets mentioned in the Quicken survey was not investing more. And for many of us, the regret involves not starting sooner. Consider the difference early investing can make:

Sam begins investing at age 22. For 44 years, Sam faithfully invests $1,000 monthly in a traditional IRA, earning an average annual return of 7%. At age 66, Sam has amassed a retirement fund of $3,193,450.Drew begins investing through a brokerage firm at age 42. Drew’s been working for a while and decides to invest $2,000 per month. Like Sam, they earn an average annual return of 7%. At age 66, Drew has $1,396,240 put away.Taylor makes their first investment into a traditional IRA at age 52. Hoping to play catchup, Taylor puts $3,000 monthly into a traditional IRA, also earning an average annual return of 7%. At age 66, Taylor has a retirement account worth $811,818.

Thanks to the power of compound interest, time was on Sam’s side. Even though Sam never raised the amount of their monthly investment, starting early allowed them to build a far larger retirement account balance.

If you haven’t begun saving for retirement, beating yourself up serves no purpose. Your best move is to begin today, even if you start out making very small investments. Time and compound interest work in tandem to swell your investment.

2. Accumulating too much debt

Unless you live totally off the grid, chances are you live in a material world. While there are many reasons people accumulate too much debt, one of them is keeping up with the Joneses. Who wants to drive an old sedan when the rest of the neighborhood drives sleek, new SUVs?

If it helps, do this one thing before making a purchase: Imagine yourself five years from now. Will you still be over the moon excited about the new car? Or will you regret spending more than was necessary and building debt? Unless you can honestly say you’d rather have things than financial security, you may want to rethink the purchase.

Did you know? You can train yourself to love saving money. According to a study by neuroscientists in England, even if you can only save a dollar a day, watching your bank balance grow rather than shrink can light up the reward center in your brain. In fact, the less money you have, the more the reward center lights up with each savings. If buying items you can live without gives you a little mood boost, it is possible to turn it around so that saving money has the same impact.

3. Not having an emergency fund

The Quicken survey also revealed that 48% of Americans don’t have the savings necessary to cover three months’ worth of expenses if they lose their jobs. Even if you never face a job loss, life happens. Water heaters break, cars need new transmissions, and medical bills arise. Having money put away to cover emergencies means not having to go into debt to take care of business.

Putting a little money away each payday is better than losing sleep. For now, finding a bit to put away may come down to canceling a subscription service, premium streaming channel, or shopping around for a lower rate on home and auto insurance. And remember, the more you practice saving money, the easier it is to enjoy how good it feels.

4. Not investing in personal and professional development

Wondering about the “path not taken” is a human trait. However, one regret many adults share is not investing more in themselves. For someone who loves working on cars, that regret may have to do with never being formally trained. For a person working in a job they don’t enjoy, it may be the regret of not going to college or not following their true passion.

The more you enjoy what you do, the easier it is to build a long-lasting, successful career. For some of us, landing a job we enjoy may mean more training. Or it could mean going out on a limb and starting your own business.

Everyone has their own talents and interests. If you manage to combine your talents with your career path, it’s like getting paid to do what you love.

I’ve lived long enough to believe that we all have regrets, whether we admit them or not. However, the great William Shatner put it into perspective when he said, “Regret is the worst human emotion. If you took another road, you might have fallen off a cliff.”

I say we embrace those regrets and learn what we can from them. We won’t always get it right, but we can strive to do better next time.

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.The Motley Fool has a disclosure policy.

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