Your dollar takes you further when you fly with these carriers. GaudiLab / Shutterstock.com
Sometimes cheaping out on a flight ticket means no legroom or fees for every little amenity. It can be a great way to save money, but I’d personally like to avoid the downsides that come with some budget fares. A recent analysis can help you make the best choice for your money, though. WalletHub compiled its latest annual rankings of the best airlines using U.S.
How do your dining habits compare to everyone else’s? Antonio Guillem / Shutterstock.com
We all want our nights out to go as smoothly as possible, and every waiter hopes to get through their shift without problems. Rude behavior can ruin everyone’s night, though. The public opinion and data firm YouGov recently surveyed 1,000 American adults on how acceptable 40 different restaurant behaviors are: 20 customer behaviors and 20 behaviors from restaurant management or staff.
Grow and maintain a healthy, lush lawn with this thorough guide. sommthink / Shutterstock.com
Young plants need fertilizer to grow strong and healthy, but when applied incorrectly, fertilizers can kill new grass. The most common cause of fertilizer damage in new grass is using too much starter fertilizer or spreading a weed and feed too soon after planting. Planning to spread grass seed or install new sod in your yard? Read this guide to learn all about applying fertilizer in new lawns…
CDs offer a safe way to grow the wealth you’ve worked so hard to build. Find out how to know if they’re right for you. [[{“value”:”
Image source: Getty Images
By the time you’ve become a senior, you’ve (hopefully) amassed a significant amount of money to cover your future expenses. At that point, instead of aggressively trying to grow your wealth, you want to protect what you have. But you also don’t want to leave all your cash languishing in a savings account where it could lose value over time.
There are a few ways to address this problem. One option is to move more of your savings into conservative investments, like bonds. You could also benefit by opening a certificate of deposit (CD), and now could be a great time to do it.
Investing in CDs is a way to grow your wealth without risking it in the stock market. When you open a CD, you’re locking in a guaranteed interest rate for the full CD term. This could be anywhere from a few months to five years or more, depending on the CD you choose.
The catch is, you’re not allowed to touch your money during that time. If you do, you’ll have to take it all out at once and pay an early withdrawal penalty. This varies by CD but is usually equal to several months of interest payments. It probably won’t cost you any of your principal, though, unless you withdraw your money shortly after opening the CD.
Because of the restrictions CDs place on your cash, they usually have competitive interest rates. They’re even more appealing than usual right now because interest rates on all savings products are high. But rates aren’t expected to stay that way.
Many speculate that interest rates will begin to fall later this year as the Federal Reserve is expected to cut its federal funds rate. By opening a CD now, you could lock in a rate as high as 5% on a 1-year CD. If you put $5,000 in a CD like that, you could earn $250 in one year.
You can have your monthly interest payments transferred to a savings or checking account, or you could leave them in the CD. The latter could increase your profits even more because you’ll earn interest on your interest after the first month.
Opening a CD is similar to opening any other bank account. You find an account you like, contact the bank, provide your ID and other identifying information, and then make your deposit. This might be fine if you don’t plan to spend your funds for many years, but if you want more access to your cash, a CD ladder could be a better fit.
This is where you open several CDs of different lengths. A classic example is a 1-year, a 2-year, a 3-year, a 4-year, and a 5-year CD. You place equal amounts of money in each. When the 1-year CD term ends, you can either spend that money or move it to a new 5-year CD. You do the same thing the next year with the 2-year CD, and so on. This gives you access to some of your cash penalty-free every year.
If you choose this route, watch out for automatic renewal. Many banks roll your cash into a new CD term of the same length at the end of the initial term unless you say otherwise. It’s usually best for you to investigate which bank offers the best CD rates at that time rather than staying where you’re at.
CDs can be a good home for a portion of your retirement savings that you plan to spend in a few years. It keeps the funds shielded from the stock market while still allowing them to grow a little. But it’s probably not the right choice for all your money.
You don’t want your emergency savings in a CD, for example. You never know when you’ll need to tap these funds. If it’s before your CD term ends, you could face penalties.
It’s also fine if you just don’t like the idea of locking your money away where you can’t easily access it. In that case, a high-yield savings account might be a better fit. These also offer interest rates around 5% right now and they let you withdraw cash as needed. But savings account interest rates aren’t locked in, so it’s tougher to gauge how quickly your money will grow.
You can always spread your money between a few accounts, too. Keep some in a high-yield savings account for emergencies and near-term expenses. Then put money for a few years down the road in CDs and leave the rest invested for a while to maximize your gains.
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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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It’s a good thing to be able to do your job from another location. But read on to see why taking a true vacation is so important. [[{“value”:”
Image source: Getty Images
Some people travel during the year on occasion. Others do it on a regular basis.
But travel can take on different forms. In some cases, it can mean flying to a destination on your employer’s dime to attend meetings or conferences. In other situations, it can mean fleeing to an exotic island and doing nothing but relaxing.
Meanwhile, data from IPX1031 finds that 1 in 5 Americans are planning to take a workcation in 2024 — meaning, a trip that combines vacation with remote work. And while that might seem like a good thing to try, there’s a big drawback you should know about.
If you have a job that can be done remotely, a workcation might seem like an ideal setup for you. You can explore a new part of the country or globe without missing out on work time or pay. And if you’re a salaried employee with limited vacation days, you can travel without having to put in for time off.
The problem, though, is that combining work and leisure travel could mean that you’re not really getting a mental break from the grind. Sure, it may be nicer to do your job from a beach or cliffside resort than from your home office. But at the end of the day, you’re still working. Your mind isn’t taking time off or getting cleared. And so what may happen is that following your workcation, you don’t come back feeling refreshed like you should.
It pays to take at least one vacation during the year that doesn’t have a work-related element to it. And if you’re thinking there’s no way you can pull that off, you may want to think again.
If you’re self-employed and are afraid that taking a non-working vacation will negatively affect your income, plan ahead. Time your travels to your least busy season, and take on extra work ahead of time to make up for those planned days off.
As an example, let’s say you’re a freelance engineer who gets paid by the hour. If you normally work 40 hours a week, work 45 hours a week until you’ve earned enough extra money to make up for 40 hours of lost income.
Meanwhile, if you’re a salaried employee, you may be entitled to paid time off — so you might as well use it. And in either scenario, there are steps you can take to make your travels fit into your budget.
For one thing, try to bank your credit card cash back and rewards. If you have airline miles, you can look at redeeming those, too. Just make sure to do so well in advance, so the dates you want aren’t blacked out or taken.
Additionally, aim to travel during off-peak times for lower costs. That could mean avoiding summertime or holiday weekends, when prices tend to be inflated.
You might think that getting to do your job from a cool new destination is a great thing. And it certainly is. So if you can afford to do that a few times a year and your employer has no problem with it, go for it.
But don’t only take a workcation this year. Data from MyBioSource found that 41% of Americans experience post-time-off burnout. You may have a greater chance of avoiding that fate if you make a point to take at least one vacation a year that doesn’t have you logging into a laptop during the course of your trip.
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, 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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Picking the right type of credit card is important. Find out which type of card I think is the best choice for most consumers. [[{“value”:”
Image source: Getty Images
There are so many credit cards available that it can be hard to choose. One of the best ways to narrow down your options is to start by deciding which type of credit card you want.
I write about credit cards for a living, so I’m familiar with the market. And while the right type of card depends on your financial goals, there’s one type I recommend most often: cash back credit cards.
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After years of covering credit cards, I’m convinced that cash back cards are the best fit for the largest portion of consumers. The data supports this conclusion. Cash back cards are the most popular type of card, and 56% of Americans have one, according to a credit card study by The Motley Fool Ascent.
What makes cash back cards so special? There are a few reasons I highly recommend them.
With cash back cards, you earn money back on your purchases. Cash back rates can be pretty impressive, too. Many cards earn anywhere from 3% to as high as 6% back in bonus categories.
These bonus categories also tend to be everyday-type spending. Gas and groceries are a popular combination — and those are two of the biggest expenses for Americans overall. There are also cards that earn more on dining, entertainment, streaming, and many other categories.
If you’d rather not keep track of bonus categories, you could go with a card that earns 2% back on all types of purchases. Whatever you choose, cash back can add up to serious savings. If you spend $40,000 a year on a card that earns 2%, you’d earn $800 in annual cash back.
Cash back cards are probably the most user-friendly card type. There’s not much you need to learn when you get one. You just use your card and redeem your cash back, either through your online account or by calling the card issuer.
Other types of credit cards are more complicated. Take travel credit cards, for example. I love them, and they can help you save on travel. But I realize that most people don’t want to spend their free time learning the ins and outs of a travel rewards program. They’d rather keep it simple with cash back. That’s likely why only 16% of Americans have travel cards.
There’s one important thing you must do to save money with a cash back card: Pay your credit card bill in full every month. If you don’t, your card issuer can charge interest on your purchases. You’ll still earn cash back, but with the average credit card interest rate being 21.59%, that’s a battle you won’t win.
Because of how much credit card debt can cost, it’s better to avoid it whenever possible. A cash back card gives you extra motivation to do that — you don’t want that cash back you’re earning to go to waste.
Your credit score is one of the main factors in the credit cards you can get. The best credit cards are generally only available to people with good credit or better, meaning a score of 670 or higher.
But cash back is a common feature, and you can find cards that earn cash back no matter how high or low your credit score is. For example:
Don’t have any credit history yet? No problem. There are starter credit cards that earn cash back.Need to rebuild your credit because of some previous issues? Secured credit cards are designed for this, and some offer cash back rewards.Are you a college student? Student credit cards can help you start building credit, and many are also cash back cards.
No single type of card is right for everyone, but it’s hard to go wrong with a cash back card. Here are a few signs that a cash back card will be an excellent fit:
You want to earn cash back so you can build your savings or investments.You always pay your credit card bill in full.You’re looking for a card that’s easy to use and can seamlessly fit into your life.
Since cash back cards are so popular, you have plenty of options. What’s most important is choosing one with cash back rates that fit your spending habits. If you do that, you’ll be able to save as much money as possible.
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, 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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