Money Management

Ready to shop for your upcoming Memorial Day cookout? Deals can help you keep your spending in check. Take a look at these affordable Sam’s Club buys. [[{“value”:”

Memorial Day weekend will be here before you know it. If you plan to gather with friends and family during the long weekend, there’s still time to shop for all the essentials on your list.

Shopping at a traditional grocery store can be stressful due to the high costs of everyday goods. But a Sam’s Club membership can unlock discounts that make shopping feel less overwhelming. It’s possible to honor your budget while planning a fun cookout with your favorite people. Here are a few of the best Sam’s Club buys for your Memorial Day weekend cookout.

1. Four-Count Heinz Picnic Pack: $8.86

If you’ll be firing up your grill for the holiday weekend, don’t forget to restock your condiments first. Sam’s Club sells a four-count of Heinz condiments for $9.86. Through July 8, 2024, members can save an extra $1, so you’ll pay only $8.86 for this picnic pack.

It includes two 32-ounce bottles of ketchup, one 26-ounce bottle of sweet relish, and one 28-ounce bottle of yellow mustard. Walmart sells just one 32-ounce bottle of Heinz Ketchup for $4.76, so this deal offers a great way to save money while getting all the condiments your guests love.

2. Member’s Mark Mediterranean Kale Pasta Salad: $4.98 per pound

No picnic is complete without some tasty side dishes. Sam’s Club has a variety of delicious sides in its prepared food section. One option is the Member’s Mark Mediterranean Kale Pasta Salad. This item sells for $4.98 per pound, so you can score two pounds for just under $10. Prepared food items like this can make your hosting duties more manageable.

3. 24-pack of Ball Park Beef Hot Dogs: $8.28

Planning to grill up some hot dogs for the occasion? Sam’s Club sells a 24-pack of Ball Park Beef Hot Dogs (original length) for $9.78. But through June 2, 2024, you’ll pay only $8.28. That’s a cost of $0.35 per dog. If you were to buy an eight-pack of the same product at Walmart, you’d pay $4.84, or $0.61 per dog. As you can see, a Sam’s Club membership is valuable.

4. 24-pack of Nestle Outshine Fruit Bars: $11.36

Don’t forget about dessert! Why not welcome summer with some refreshing frozen popsicles? For $11.36, you can score a 24-count variety pack box of Nestle Outshine Fruit Bars. The package includes strawberry-, pineapple-, grape-, and tangerine-flavored pops, so there’s something for every guest.

Walmart sells a 12-pack of Outshine Fruit Ice Bars for $7.98. Most boxes sold at Walmart feature one flavor, and you’ll pay about $0.67 per pop. But when using your Sam’s Club membership perks, you’ll pay about $0.46 per pop. This worthwhile deal won’t leave you feeling broke.

5. 115-count Dixie Ultra Extra Deep Dish Paper Plates: $12.53

Another party essential deal you will want to take advantage of is the 115-count pack of Dixie Ultra Extra Deep Dish Paper Plates. This jump pack of 28-ounce plates usually costs $15.78, but they’re on sale for $12.53 through June 2. That works out to be about $0.11 per plate. If you were to buy a 40-pack of the same plates at Walmart, you’d pay $13.75, or about $0.34 per plate. Getting your paper plates at Sam’s Clubs can help you avoid a costly credit card bill.

Sam’s Club can help you keep your spending in check

If you’re not a warehouse club member but want to reduce your everyday spending, you may want to consider joining Sam’s Club. The members-only pricing could help you keep more money in your checking account.

Pair the affordable deals with a budgeting app, and you can stay on track as you fill your cart. If you’re still planning your Memorial Day weekend cookout, don’t miss out on these savings.

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

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You’d think you’d be all set with $20,000 in emergency savings. But read on to see why in some cases, you may be wrong. [[{“value”:”

Last year, SecureSave reported that 63% of Americans did not have enough money in a savings account to cover an unplanned $500 emergency expense. So if you’re sitting on a $20,000 emergency fund, you’re clearly in a much more solid place.

But believe it or not, just because you have $20,000 to your name doesn’t mean your emergency fund is automatically complete. Perhaps you still have work to do on the savings front.

It’s a matter of your personal expenses

There are two purposes to having an emergency fund — to give you money to access when unplanned bills pop up, and to get you through a period of unemployment. It’s for the latter reason especially that workers are generally advised to save enough in an emergency fund to cover three to six months of essential expenses. The logic is that it might take that long to find a job after losing one, so having that level of savings could make it possible to avoid credit card debt while unemployed.

Now whether you opt to aim for a three-month emergency fund or a six-month fund (or more) will depend on your personal circumstances and how much financial peace of mind you require. But three months’ worth of bills in savings should really be your minimum goal.

With that in mind, whether you’re all set with a $20,000 emergency fund will really depend on what your monthly expenses look like. If your essential bills come to $6,667 a month or less, then you may be well-protected with $20,000 in the bank.

But if you’re a higher earner who spends $8,000 a month on essential expenses, then your minimum emergency fund target should really be $24,000. And if your monthly spending comes to $10,000, then you should really be aiming for $30,000 in your emergency fund.

RELATED: Emergency Fund Calculator

Higher earners might want more

If you’re a higher earner, you may want to amass enough savings to cover six months’ worth of expenses instead of just three. Why so? Upper-level jobs that are lost can sometimes be harder to replace than lower- or mid-level jobs, since there tend to be fewer of them.

Imagine you’re an IT professional on a team of 20 earning $80,000 a year. If you were to get laid off, chances are, you’d find a comparable job with a similar salary in a few months’ time. But if you’re the VP of Technology at your company and you earn $240,000 a year, there may not be as many openings for that same role at different firms. So for that reason, when you’re a higher-paid professional in more of a specialty role, it often pays to have extra savings, just in case.

Focus on your expenses, not just a single number

For some people, a $1 million nest egg could make for a very comfortable retirement. For others, a sum of that nature might fall short.

Similarly, for many working Americans, a $20,000 emergency fund will indeed be more than adequate. But if you’re a higher earner with large bills, you may be an exception to that rule.

So rather than focus on a single number in the context of planning out your emergency fund, instead, run the numbers to see what you actually spend on a monthly basis. And then figure out how many months of income it pays for you to replace.

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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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Worried about an economic downturn? Here’s why you may not have to stress quite so much. [[{“value”:”

Economists spent much of 2022 predicting that come 2023, financial conditions would deteriorate in a meaningful way. But clearly, we managed to get through 2023 without an economic recession. And so far, things seem pretty stable as we creep toward the midpoint of 2024.

Meanwhile, the Federal Reserve seems pretty optimistic about the state of the U.S. economy. The central bank released a statement in late March showing that it expects economic growth this year, and in the next couple of years, to be stronger than it previously thought. And even though elevated interest rates are keeping some consumers from spending and borrowing money, all told, the Fed does not expect a recession to hit in 2024 or in 2025.

That’s good news. The idea of a recession can be scary. Not having to worry about one in the near term could be just the thing that helps you sleep better at night.

But although we may not be on the brink of a recession, it’s important to prepare for one nonetheless. Here’s how.

1. Have a fully loaded emergency fund

While a recession may not hit in 2024 or 2025, economic conditions could still decline in the future. Even if there’s not a broad recession, that doesn’t mean you won’t experience your own personal economic crisis, whether it’s a medical condition that keeps you from working or a layoff at your job.

That’s why it’s so important to have a well-stocked emergency fund. At a minimum, you should aim to have enough money in your savings account to cover three full months of essential expenses. That way, if you were to lose your job, you’d have cash reserves to tap instead of immediately resorting to credit card debt to cover your bills.

Of course, the more emergency savings you build, the more protection and peace of mind you give yourself. So if you already have three months’ worth of savings but think you can benefit from more, work on giving your emergency fund a boost.

2. Create a backup income stream

Recessions and job loss tend to go hand in hand. So it’s a good idea to maintain some sort of backup income stream, even if you don’t desperately need the money right now.

Let’s say you’re an IT professional by day, but are skilled at playing the piano. It may not be a bad idea to take on a couple of clients for music lessons. That way, if you were to get laid off, you’d potentially be able to build up your side business while looking for work. And you’d have the endorsements of the students you took on to help drum up that business.

3. Maintain contact with your professional network

If a recession hits in the future and you find yourself out of a job, you may need to call in favors from people in your professional network. But that’s a harder thing to do if you haven’t spoken to many of those people in years.

Spend some time in the coming year getting in touch with former colleagues, professors, and classmates. You don’t have to commit to a lunch date with everyone on your list. But it is a good idea to send a note to check in and say hello. That way, if you need to turn to those people for help in finding a job, it won’t be completely out of the blue.

The fact that a near-term recession is not on the Fed’s radar is a positive thing. But it’s a good idea to always be ready to cope with a recession by taking the above steps.

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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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Have someone special in your life graduating high school or college? Read on for some excellent gift ideas from Costco. [[{“value”:”

It may be hard to believe that your child or loved one is graduating high school or college this spring. Doesn’t time just fly?

If you’re eager to find the perfect gift, you don’t need to spend hours wandering the aisles of your neighborhood big-box store. Instead, turn to Costco. Here are some great gifts your high school or college graduate might truly love.

1. A new Chromebook

If your child is graduating high school and heading to college, they may need a laptop to aid in their studies. But you may not want to invest in such an expensive one.

A Chromebook generally fits the bill. And right now, Costco is offering $150 off of the HP x360 14″ Touchscreen 2-in-1 Chromebook, bringing your total online cost to $299.99.

With that purchase, you get free tech support in case there are any issues and a free two-year warranty. This model also features 8GB of memory and 128GB of storage.

If you’re looking for a gift for a college grad, this could also be a great buy. A recent college grad might need a laptop to job search or work a side hustle to drum up extra cash.

2. A new smartwatch

Your high school or college graduate might really enjoy getting a new smartwatch. And right now, Costco is offering $40 off of the Apple Watch SE (2nd Generation), bringing your online cost to $199.99 plus $4.99 for shipping and handling. You can also see if your local warehouse club store has this model in stock to avoid a shipping charge.

The watch features GPS and other sleep and activity tracking tools to help your recipient stay on top of their health. It’s also water-resistant up to 50 meters, so if you’ve got a graduate who’s an avid swimmer, they won’t have to take it off. Plus, your purchase comes with a full year of hardware repair coverage and 90 days of tech support should you need it.

3. A mini fridge

Have a high school graduate heading off to college? They may occasionally need a break from the dining hall, and they may want snacks on hand for those late-night study sessions. As such, a mini fridge could make a great gift.

Costco is selling a Danby 3.3 cubic foot compact fridge for $229.99. And if you look inside, you’ll see that its design allows your graduate to store cans, a two-liter bottle of soda, and a host of goodies.

Do keep in mind that this item is only available through Costco.com. If you need it soon, don’t wait to place your order.

4. A standing desk

Standing desks are all the rage these days. So you may want to buy one for your high school graduate so they don’t have to do all of their college studying crouched over a table. And a standing desk could be a great gift for a college graduate who may end up working from home quite a bit.

The Tresanti 47″ Adjustable Height Desk is available at Costco.com for $349.99, and that price includes shipping. With a 4.5-star review, it’s clear that those who own this desk are generally pretty happy with it. It also features a wireless desktop charging station and a dry erase-compatible glass top.

5. A Costco membership

A Costco membership may not be the best gift for a high school graduate who’s going to soon be living in a cramped dorm room. But for a recent college graduate, access to Costco could be a fabulous gift.

Your new college graduate may be eager to save money on groceries and essentials given that they’ll probably be looking at an entry-level paycheck. So for $60, you can buy a basic Costco membership as a gift and really make someone’s day.

Remember, when it comes to graduation gifts, it’s the thought that counts. So if you’re not sure if any of these items fit the bill, you could always offer up the gift of cash. It’s one that any graduate is apt to appreciate immensely.

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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.

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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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