Money Management

More Americans will soon have a Costco in their community. Learn the three cities getting a Costco next. [[{“value”:”

Life is expensive, and many people seek ways to save money. One strategy that works well for some shoppers is to join warehouse clubs like Costco. The retailer sells household goods, food, clothes, electronics, and more at discounted prices. Shopping at Costco can offer significant savings.

With more than 800 locations worldwide, it’s no wonder the retailer is so popular. The number of clubs continues to grow each year as the brand expands its footprint. The company plans to open three new clubs in the United States later this summer. Here’s what you need to know.

Shoppers in these cities will soon have a local Costco club nearby

Costco highlights upcoming store openings on its website. The retailer has plans to open a total of six new clubs in August. The following U.S. cities will welcome new Costco clubs in the coming weeks:

Tomball, TexasCovington, LouisianaRidgefield, Washington

No exact opening dates have been announced yet. If you have questions about opening dates or store hours for any of the clubs listed above, contact Costco for more specifics.

You might consider investing in a membership if you live in or around one of these areas. Before you join, it’s a good idea to review the membership perks and products Costco sells. The retailer sells its own Kirkland Signature brand products and various products from other popular brands.

You can browse available products on the Costco website or mobile app. For many households, the annual savings outweigh the price they pay to be members. However, you should consider your shopping habits and budget to make a more informed decision.

How to get more from your Costco membership

Shopping Costco deals can help you keep more money in your checking account. You can make strategic moves to save even more money on your next Costco haul.

Here are a few tips to help you maximize your membership perks.

Don’t shop without a plan

You may be tempted to overspend if you walk into your local club without a plan. Costco features new products and deals often, so there is always something new to buy. It’s best to create a shopping list and outline a budget before shopping. This way, you can get what you need while honoring your budget.

Pay attention to sales

The warehouse club is known for having fantastic deals. In addition to the retailer’s already low prices, you can shop for limited-time deals and promotions to save more. You can learn about current sales by reviewing the website or mobile app. If you time your purchases accordingly, your wallet will benefit.

Earn rewards when you shop

Take advantage of the chance to earn rewards. We recommend paying for your purchases with rewards credit cards to maximize your Costco savings. Check out our list of the best credit cards for Costco to find out more.

If you like being rewarded for shopping, consider upgrading to an Executive membership. Costco’s Executive membership currently costs $120 a year, but offers more benefits. Members can earn 2% rewards on eligible Costco purchases, with an annual max of $1,000 in rewards.

Starting on Sept. 1, 2024, the annual cost of an Executive membership will increase from $120 to $130. However, as of that date, Executive members can earn up to $1,250 in 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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The safest financial institutions are extremely stable. Find out how they can keep your money more secure than other banks. [[{“value”:”

Banks fail. They have a long history of doing so. You may think that the biggest bank failures are long behind us. But that’s not true — the largest bank failure in history happened in 2008, when Washington Mutual collapsed during the 2008 Financial Crisis.

The second, third, and fourth-biggest bank failures happened in 2023. One year ago! And those are only the biggest failures. Since 2000, an average of 25 banks per year have gone bankrupt. (Many of these happened during big financial crises.)

Financial crises are predictably unpredictable. The San Francisco Fed estimates they happen once every 25 years on average, though precisely which year the next will appear remains a hotly debated topic among forecasters. Crisis means panic, and panic leads to bank failures.

It’s a safe, conservative bet to believe the biggest bank failures are ahead of us. It’s one I’m willing to make, if only to prevent myself from being taken by surprise. And I’m not the only one.

After the recent collapse of Silicon Valley Bank and a few other high-profile banks, people panicked. Many are flocking to big banks, and for good reason — they’re “safe.” But are they really? If so, how? Here’s what happens when you bank with one of the safest financial institutions in the world.

Your money is secured for up to $250,000

The safest banks in the U.S. have one thing in common: they’re all insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC guarantees that if your bank collapses, for whatever reason, you’ll get your deposits back, up to $250,000.

The FDIC is backed by the U.S. government, to the tune of billions of dollars of taxpayer money. Unless you think the government is going to collapse, it’s safe to assume you’re covered.

Some banks offer even more FDIC insurance than the standard figure. SoFi® insures deposits with the FDIC up to $2 million, partnering with allied banks to keep your money safe. It’s an uncommon perk and why SoFi® is one of the safest financial institutions out there.

You may become part of a bank that’s “too big to fail”

When Silicon Valley Bank collapsed in 2023, the FDIC didn’t step aside and let the bank die. It could have. You could even argue it was supposed to. Though the bank’s depositors were FDIC insured, many had more than $250,000 on deposit. Some deposited millions of dollars.

Hundreds of millions.

With so much at stake, tensions ran high. The fear was that if people didn’t get their money back, this tension would spread, causing more bank runs and more failures. The U.S. government stepped in with a “one-time” solution: reimburse everyone 100%.

One takeaway is that when your bank is big and important enough, the government is willing to bend over backward to keep you from panicking. It’s not guaranteed — legally, the government could have let depositors at SVB lose their money — but it’s an extra safety net.

A net that saved thousands of depositors up to hundreds of millions of dollars in 2023.

You get uncommon or rare security features

FDIC protection and size are perks of the safest banks, but what about fraud protection? You can lose money without your bank going under. It happens all the time.

To prevent fraud and theft, the safest financial institutions offer uncommon security features like two-factor authentication, cards with EMV chips, and 24/7 customer service. A few offer truly rare perks like debit card blocking and next-day cash reimbursement.

You may sacrifice great rates for better security

Chase is one of the safest banks in the world. But its savings accounts offer truly terrible rates compared to other banks. The reason is partly because it’s so expensive to maintain physical bank branches, of which Chase has thousands.

This is a thread common to big, safe banks with in-person locations. Brick-and-mortar banks tend to offer much worse rates than online banks (Capital One being a notable exception).

But when banks are collapsing and you’ve got more than $250,000 in cash, it may be worth sacrificing a higher APY for better security. It takes years to build a savings account balance, but you can lose hundreds of thousands of dollars overnight.

No bank is truly 100% immune to the possibility of failure. But some are safer than others.

The question worth asking is, how much am I willing to risk? The answer depends on where your priorities lie, and determines whether you’ll bank at one of the safest financial institutions.

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!

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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.JPMorgan Chase 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 JPMorgan Chase. The Motley Fool has a disclosure policy.

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Want to shop Costco deals? You can shop there without a membership, but it’s not recommended. Find out why you want to become a Costco member. [[{“value”:”

Many shoppers join warehouse clubs like Costco to keep more money in their pockets in the course of their weekly shopping trips for groceries and other household supplies. As the costs of everyday goods continue to rise, every dollar saved adds up and makes a difference. Shopping for member-only deals at Costco is one strategy that could save you money.

You must be a member to shop at your local Costco, but you can shop on the retailer’s website without paying an annual membership fee. However, that may not be the best money move. I’ll share the downsides of shopping at Costco without a membership card.

You’ll pay a surcharge to shop online

You don’t have to be a Costco member to buy items on Costco.com. This is excellent news if you’re a non-member considering making a one-time purchase or wanting to shop with the retailer occasionally. But if you plan to make this a regular occurrence, be aware that you’ll pay a fee to shop without a membership.

Costco assesses a 5% surcharge for orders placed by non-members. That means you’ll be paying more for every item you buy, which can become costly if you place large orders. If you hate paying extra fees like me, this is news worth knowing.

If you’re not a member and are loading up your Costco.com shopping cart, you can add a membership during checkout to avoid the surcharge. Membership prices start at $60 per year. Depending on how often you plan to shop and the perks you value, joining may be worth it.

You’ll spend more than necessary

When you shop in-club, you get access to the best prices. The advertised prices listed on Costco.com differ from the prices that members pay when shopping at their local clubs.

Additionally, you’re already paying more to shop online without a membership due to the above surcharge. Not to mention, all items aren’t available for purchase by non-members. If you want to get the best deal possible, invest in a membership and shop in-store.

Do this instead

Here’s how to avoid these downsides.

1. Become a member

One option is to join Costco. Membership costs $60 to $120 a year. However, beginning on Sept. 1, 2024, memberships will cost $65 to $130 — so you may want to join soon.

As a member, you can shop in-club and Costco.com as often as you want. Before joining, you can browse products on the Costco website or mobile app to get a feel for the items the retailer sells. Just remember that in-store prices are likely cheaper than what you’ll see on the website or app.

2. Shop with a family member or friend

Another option is to accompany a friend or loved one who has a membership. The retailer allows members to bring children and up to two guests over 18.

As a non-member, you won’t be able to purchase items yourself at checkout, but you can have your loved one purchase what you want and pay them back later. This is a good option if you only intend to shop at Costco occasionally.

3. Order through Instacart

Another option is to do your Costco shopping through Instacart. But again, you’ll likely be overpaying, as the prices listed through Instacart are more costly than the in-club prices. But if you’re in a pinch, this may be a solution to explore.

Save more by earning rewards

If you’ve decided to become a Costco member, take advantage of the opportunity to earn rewards. How you pay for your Costco hauls matters. Our best tip to save more at Costco is to pay with a credit card that earns rewards.

Earning cash back when buying everyday essentials is a win for your wallet. Browse our list of the best credit cards for Costco to learn how to earn valuable 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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Side hustles are a great way to grow your wealth, but they’re usually not without cost. Here are five side hustle expenses you may not have considered. [[{“value”:”

Thanks to side hustles, you’ve never had more options to make money, and many of them give you the freedom to choose when and how much you’d like to work. For some people, they pull in enough cash to eventually turn into full-time jobs.

These are the success stories we sometimes read about. But the reality is that starting a side hustle can come with significant costs, and it’s important to weigh these costs when deciding whether it’s worth it for you. Here are five expenses to be aware of when searching for a side hustle.

1. Taxes

Yes, you still owe Uncle Sam a piece of your earnings even when you’re working for yourself. But since you don’t have a steady paycheck or an employer to withhold the funds on your behalf, it falls to you to set this money aside and forward it to the government on time.

There are four estimated tax due dates throughout the year. They fall on the 15th of April, June, September, and January of the following year. If any one of those dates falls on a weekend or a federal holiday, the deadline is the next business day.

You can use the government’s Estimated Tax Worksheet to figure out how much to pay in quarterly. Consider opening a business bank account to keep these funds in so you don’t accidentally spend them. Don’t forget about state estimated taxes, as well.

2. Supplies

Some businesses require you to invest in materials upfront. For example, if you’re making some sort of craft to sell, you’ll need the tools and supplies necessary to make your product first. If you hope to drive for a ride-hailing company, you’ll need a suitable vehicle and an auto insurance policy that accommodates this.

Exact costs vary depending on the side hustle you choose and how quickly you plan to scale it. It’s best not to go too big at first. Start small and as you generate a profit, you can put some of the proceeds back into your business to grow it further.

3. Application fees

Some popular side hustle apps, like dog-walking apps, have an application fee you must pay when you apply to join the service. These are usually one-time charges you must pay to help the company cover the cost of running background checks and taking care of the administrative work associated with adding you to the platform.

It may not be make-or-break for you, but it’s still worth considering, especially if you aren’t sure if you’ll stick with the side hustle for long. You might prefer to look for something you can dive into right away without these costs.

4. Sales fees

If you plan to sell items through an online marketplace, you must prepare for the marketplace to take a cut of each sale. Check its list of fees before you join the platform so you understand how this works.

You may also have to pay to ship the product to consumers. However, you can get around these costs by adjusting your sale price accordingly.

5. Advertising

Advertising can help you get the word out about your product or service and help you attract new customers. But online advertising costs money. If you go this route, you’ll need to budget a certain portion of your monthly income for advertising. Alternatively, you could explore free advertising services, like using social media or offering referral bonuses to existing customers if they invite their friends to check out your business.

This likely isn’t a comprehensive list of costs associated with your side hustle. See if you can brainstorm any additional costs you might incur and then decide whether those expenses are worth the potential profits. If not, you may want to explore some other options.

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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