Money Management

Costco’s pharmacy offers affordable medications and convenient features. Learn more about getting your prescriptions from the warehouse club. [[{“value”:”

When you think of items to buy at Costco, odds are that purchases like groceries and electronics come to mind. But there’s also plenty of other practical essentials you can pick up at the warehouse club.

Prescriptions are one of them. If you’ve never bought your medications from Costco before, you should seriously think about doing so. Here are three big reasons why.

1. It can be a lot cheaper

There’s one clear reason why you should consider getting your medications from Costco’s pharmacy: You most likely will save a lot of money by doing so.

A Consumer Reports investigation in which secret shoppers obtained quotes on drug costs, revealed that Costco’s prices for five common drugs were $46 less than Sam’s Club’s for the same medications. They were $413 less than Walmart’s and $823 cheaper than the prices at CVS and Target. In fact, Costco had the lowest prices of any major retailer and often by a big margin.

To help you keep even more money in your bank account, Costco also offers a Member Prescription program that provides up to 80% in savings on the cost of popular medications. Many drugs, including Lovastatin and Ritalin, can be bought for just $9.99 for a 90-day supply.

There’s really no reason to pay more for drugs than you absolutely have to. Since Costco consistently comes in cheaper, you should always check there first to see if you can save.

2. You can get prescriptions delivered to your door

You don’t even have to visit a Costco store to get your medications. That’s another great perk that makes buying them there worth it.

You can shop at Costco’s Mail Order Pharmacy, order medications 24 hours a day, and have them delivered for free via USPS with six- to 14-day shipping. If you need your meds faster, two-day delivery is also an option, although that will add $13.95 to your bill.

This makes it convenient to use Costco’s pharmacy and save money — even if you don’t happen to have a warehouse nearby.

3. Costco offers an auto-refill program

Finally, the last great reason to fill prescriptions at Costco is so you can take advantage of the pharmacy’s automatic refill program. When you sign up, you’ll get an email before your auto shipment renews. You’ll have 72 hours to consent to refilling the prescription.

The automatic refill program helps ensure you never forget to buy drugs before your prescription runs out. And the confirmation process helps you to avoid getting unnecessary meds delivered to your door.

Now, to be fair, some other pharmacies also offer deliveries and automatic refills as well. But some charge more than Costco for these services. Plus, you won’t get the benefits of Costco’s rock-bottom prices if you get your meds from these other places.

Since Costco drugs are typically cheaper and its pharmacy makes getting your meds convenient, there’s really no reason not to purchase your prescriptions from the warehouse club. That’s especially true since you don’t even have to be a member to do so.

So, next time you’re ready to refill your prescription, check out Costco to see if it’s the right place for you to get your meds and save money.

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.Christy Bieber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale, Target, and Walmart. The Motley Fool has a disclosure policy.

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If you’re starting a small business, you already have a lot on your plate. Read on for a few terms to gain familiarity with first. [[{“value”:”

Unless you’re an experienced accountant, taking on the accounting duties of a small business can feel daunting. The first step in preparing yourself for the job is to become familiar with basic accounting concepts. Here, we break down some of the most important concepts for you.

At its core, accounting is all about keeping track of how much money is coming in and how much is going out. Fortunately, there are plenty of accounting software options available to help. But whether you work with accounting software or not, it pays to know the following terms.

Generally Accepted Accounting Principles (GAAP)

According to the U.S. Chamber of Commerce, GAAP is a set of rules that most U.S. companies are expected to follow. These rules provide guidelines for how to track, measure, and report on how your company is doing.

Cash-basis accounting

The two most common accounting methods are accrual accounting and cash-basis accounting. Cash-basis accounting is quite basic: As income is received, you record how much comes in. When expenses are paid, you record how much you spent. It couldn’t be any easier. In fact, it’s so simple an accounting method that it’s often preferred by small business owners.

The only downside to cash-basis accounting is that it may provide a misleading picture of your business’s performance. Let’s say you’ve billed a customer for a large job, but you won’t receive payment for a month. In the meantime, you’ve ordered new inventory, so it looks like you have far more money going out than coming in.

While cash-basis accounting isn’t perfect, it works quite well for most businesses.

Accrual-basis accounting

What about the other common accounting method, accrual-basis accounting? Unless your business earns more than $25 million in revenue, you are not required to use accrual-basis accounting. If you’re fortunate enough to make it big and start bringing in that kind of money, here’s how it works: Instead of recording income when it’s received, you log it into your books when you bill it.

The tricky bit is that you may end up paying taxes on money that hasn’t hit your business checking account yet, but it does provide an accurate long-term picture of your company’s financial standing.

Accounts payable

Any outstanding bills you owe vendors are considered part of your accounts payable. The money you owe must be weighed against your business assets and income to draw an accurate picture of your cash flow.

Accounts receivable

Accounts receivable refers to all the money your business is owed by customers or clients. You typically track accounts receivable by invoices that specify payment terms, so you’ll know when to expect payment.

Profit and Loss (P&L) statement

If you have an outside accountant working for you, are working with a tax professional to prepare your taxes, or are applying for a business loan, you’ll be asked for a P&L statement. In short, a P&L statement provides an overview of your company’s profitability. It lists your income, expenses, cost of goods sold, gross margin, profit, and other key pieces of financial information over a specific period of time.

Balance sheet

A balance sheet shows your company’s assets, liabilities, and capital, all of which are used to determine its worth. You should be able to look at your business’s balance sheet and immediately get a picture of its current financial standing.

Cash flow statement

A cash flow statement allows you to keep track of your company’s financial activity. It lists and categorizes each time money comes in and each time money is spent, line by line.

These terms certainly don’t represent all there is to know about small business accounting, but they’re a good starting point. As you dive into small business accounting, you’ll find yourself counting on these records and reports to keep your business on track and, hopefully, help it grow.

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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.Dana George has no position in any of the stocks mentioned. The Motley Fool recommends Flow. The Motley Fool has a disclosure policy.

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Now’s a great time to put money into CDs. Will that be the case next year? Read on to find out. [[{“value”:”

During 2022 and 2023, the Federal Reserve raised interest rates 11 times to help slow the pace of inflation. Unfortunately, higher interest rates have been harmful to consumers in some ways since they’ve made loans and credit card balances more expensive.

But those interest rate hikes have also had a silver lining. These days, savings accounts are offering generous interest rates for people with money in the bank. And CD rates are also the highest they’ve been in many years.

But the rate you can get on a CD today may not be the rate you’re able to snag come 2025. And that raises the question: Will CDs still make sense to open next year? Or is the window to open a CD really closing soon?

CD rates should remain fairly attractive in 2025

The Fed’s interest rate hikes have led to a situation where many CDs are paying upward of 5% right now. Come 2024, that may not be the case.

Just as the Fed raised interest rates when inflation soared, the central bank is expected to start cutting interest rates now that inflation has cooled. While we don’t know exactly when the first of those rate cuts will happen, the Fed has signaled that it’s looking to cut rates in 2024.

Because of this, the CD rates savers are seeing today may not be available come 2025. But that doesn’t mean CDs won’t still be worth it in the new year.

Remember, the Fed raised interest rates to where they are today over a period of more than a year. Similarly, the Fed’s interest rate cuts are not expected to be overly drastic, but rather, gradual.

What this means is that come this time next year, you may not be able to sign a 1-year CD at 5% (or slightly more) like you can today. But it’s possible that you’ll be able to lock in a 1-year CD at 4.5%, or 4.25%. That’s still a pretty good deal considering that you’re getting a risk-free return, provided you stick to an FDIC-insured bank and limit your deposit to $250,000 ($500,000 in a joint account).

Act quickly if you can

While CDs will most likely continue to make sense in 2025, if you want to get the best rate on your money, the time to act is now. The Federal Reserve’s next scheduled meeting of 2024 is set for June 11 and 12. It’s unclear as to whether the Fed will be ready to cut interest rates at that point or wait a bit longer.

But once the Fed implements its first rate cut, the rate on CDs is apt to start trending downward. And while that may not happen to such an extreme degree, it’s still a wise idea to capitalize on today’s CD rates if you can.

So rather than throw a few thousand dollars into home renovations this month or go out and buy new furniture, you may instead want to consider using your spare cash to open a CD while rates are still around 5%. However, if you don’t have the funds on hand to open a CD right now and you don’t expect to be in that position until 2025, know that you should still have a prime opportunity to lock in a great rate.

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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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It’s possible to benefit from Costco’s great deals without a membership. Read on to learn how. [[{“value”:”

For me, having a Costco membership is really a slam dunk. I pay $120 a year for an Executive membership, which is double the cost of a $60 basic (Gold Star) membership. However, my Executive membership gives me 2% cash back on my purchases, so it’s worth paying for the upgrade. And it’s worth paying for a membership in general because the amount of money I save during the year on groceries and household essentials well exceeds the $120 fee I pay to use the store.

But you may not love the idea of having to pay a fee for access to Costco. And look, I get it.

Most stores don’t charge you money just to walk in the door, so you may feel silly handing over $60 or $120 a year to Costco when all you’re going to be doing is opening up your wallet to pad its bottom line.

The good news is that you technically don’t need to be a member to shop at Costco. Here are a few options you have if you don’t want to spring for a membership.

1. Use a Costco Shop Card

A Shop Card is Costco’s version of the gift card. And having a Shop Card gives you access to any warehouse club store — even if you don’t have a membership card to flash at the door. You can use a Shop Card for any Costco item that strikes your fancy, whether it’s food, apparel, or electronics.

Now one thing you should know is that you have to be a Costco member to buy a Shop Card. But if a member decides to give you one as a gift, you can use it to gain entry to the store.

2. Shop on Costco.com

When you visit a Costco location in person, you’re asked to show your membership card at the door prior to entering. But you can shop online as a non-member without a hassle.

There are a few catches, though. First, certain online items are marked as members-only, so those will be off the table if you don’t have a Costco membership. You’ll also face a 5% surcharge on your Costco.com order as a non-member.

The reason? Costco uses its membership fee revenue to offset its costs and offer its amazingly low prices. So if you’re not helping to support the store, you’re going to pay extra.

3. Order through Uber Eats

Uber Eats recently announced that it will offer delivery from Costco as part of its lineup of services. This option may not be available at every store, though — you’ll need to check to see if your local Costco warehouse participates.

You do not need to be a Costco member to place an order through Uber Eats. However, members are eligible for a discount on the items they have delivered. And you should also expect to pay more per item if you order through Uber Eats, as opposed to shopping at Costco in person.

Clearly, there are ways to get around a Costco membership and still take advantage of the store’s offerings. But if you find yourself trying to shop without a membership on a regular basis, then it may be time to just — wait for it — get a membership.

If you spend $60 a year for a basic membership but save $15 every month by purchasing your groceries for less, you’re ahead by $120. Similarly, a single large purchase could put more than your $60 fee back in your pocket. So it pays to consider signing up for a membership if shopping at Costco is something you often have a desire to do.

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 and Uber Technologies. The Motley Fool has a disclosure policy.

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A 0% introductory APR can be appealing. But take one step to make sure you don’t fall into a trap. [[{“value”:”

If you’re grappling with credit card debt, you may be inclined to move your existing balances over to a new card with a 0% introductory APR. Similarly, if there’s a larger purchase you can’t afford to make outright, you may decide to charge it on a 0% introductory APR credit card.

The nice thing about a 0% introductory APR offer is that it gives you a reprieve from racking up credit card interest on your balance for a period of time. But before you use one of these cards, there’s one important thing you have to do.

Find out when your introductory period ends

A 0% introductory APR can be very appealing, whether you have existing debt you’re trying to shake or you want to finance a purchase interest-free.

For example, let’s say you want to spend $5,000 on furniture but can’t cover the cost of that purchase outright. With a traditional credit card charging 20% interest, even if you pay off your balance in 18 months, you’ll still be charged a total of $829 in interest if your card’s interest rate is 20%. But if you’re able to pay off that $5,000 in 18 months on a 0% introductory APR card, you won’t pay interest at all.

RELATED: Credit Card Interest Calculator

The problem with a 0% introductory APR, though, is that it won’t last forever. And once your introductory period comes to an end, your remaining balance will be subject to your card’s regular (or “go-to”) interest rate — which could be substantial.

That’s why it’s so important to find out exactly how long your card’s introductory period lasts. Some 0% introductory APR cards give you 12 months interest-free. Others give you 18 months or longer. Once you get that information, you can figure out how likely you are to end up accruing interest on a purchase.

Going back to our example, let’s say you don’t think you’ll be able to pay off a $5,000 furniture purchase in only 18 months. If that’s the case, you may want to look at financing options outside of a credit card.

The merchant you buy your furniture from may have a more affordable payment plan. Or you can consider a personal loan, which may let you borrow at a considerably lower rate than what a credit card offers.

Don’t get stuck paying more interest than expected

Once your 0% introductory APR expires, you’ll begin accruing interest on your card’s balance. If you end up in a situation where you still have a balance after your introductory period is up, call your credit card issuer and try to negotiate your interest rate downward. You may be eligible for a lower rate if you have great credit.

You can also try transferring your balance to another 0% introductory APR card. But again, you run the same risk of eventually racking up interest.

All told, it can be tempting to finance a purchase with a 0% introductory rate credit card or use one to try to tackle existing debt. But doing so could backfire on you. So you may want to consider a fixed-rate loan or other solutions for these situations.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

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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Costco membership comes with so many benefits, even long-time members might be surprised to learn about these. Read on to find out the details. [[{“value”:”

If you’re a Costco member, you undoubtedly know that you can get great deals on a huge number of products, including gas and bulk grocery items. But even those who visit the warehouse club on a regular basis may not be aware of all the perks their membership offers.

In fact, these six benefits could come as a big surprise — even if you’re in the club all the time.

1. Free tech support

If you’re having trouble with your technology, Costco is available to help you out. You can get assistance with a variety of electronics and appliances, including PCs, laptops, and televisions purchased in 2020 or later.

You can call Costco for technical advice at 1-866-861-0450 during the operating hours of Monday to Sunday 5 a.m. to 8 p.m. PT. You’ll want your Costco membership ID and the item’s model number ready when you call.

2. Discounts at other retailers

With so much to buy at Costco, odds are you’ve never taken a close look at the racks of gift cards available there. If you had, you might have noticed Costco can help you save money with other retailers, as well.

A few examples of the savings available right now include:

A $500 Southwest Airlines card you can buy for $449.99$100 worth of Domino’s Pizza gift cards for $79.99$100 worth of TGI Friday’s gift cards for $79.99

Check out the discounted gift cards each time you visit the store or take a quick look at the website regularly to take advantage of this perk. If you’re going to spend money with other retailers anyway, you may as well save money in the process.

3. Cheap prescription drugs

Research from Consumer Reports revealed Costco’s prices on five common medications were the cheapest of any major retailer.

Although the amount saved varied, the medications were over $800 less than if you’d purchased them at CVS. Costco’s Member Prescription Program also allows you to save as much as 80% on common meds, with many costing just $9.99 for a 90-day supply.

You can order prescriptions online and have them shipped to you for free, so it’s worth taking advantage of this perk if the medications you take are cheaper at Costco. You can keep more money in your bank account with no extra hassle.

4. Worldwide membership

Another thing you may not realize about your Costco membership is that it’s good worldwide, not just in the United States. Costco has locations in the following countries:

AustraliaCanadaChinaFranceIcelandJapanKoreaMexicoNew ZealandSpainSwedenTaiwanUnited KingdomUnited States

If you travel abroad to these countries, you can use your membership to save on items when you get there.

5. Cheaper insurance

Costco has a partnership through which it offers discounted insurance coverage. The company indicates that Costco members who purchase coverage through CONNECT, powered by American Family Insurance, end up saving an average of $595.86 on their car insurance in just the first year alone.

You can request a quote online for auto and home insurance through Costco to see if switching your policy might free up more money in your monthly budget.

6. Discounted photo gifts

Finally, Costco has a partnership with Shutterfly that entitles you to receive discounted photo gifts. You’ll get a 51% discount on all orders as well as free economy shipping when you purchase at least $49 worth of qualifying items.

Shutterfly offers more than just the chance to print pictures. You can get creative photo gifts at a steep discount to preserve your precious memories — like coffee mugs, photo books, and more.

Each of these perks has big benefits, including spending less to keep credit card bills down or gaining access to services you might not otherwise have. Now that you’re aware of them, you can take advantage of these perks and make your Costco membership even more worthwhile.

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.Christy Bieber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool recommends Southwest Airlines. The Motley Fool has a disclosure policy.

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