Money Management

Flying business class is a great way to upgrade your travel experience. Learn what to look for when booking business class, so you can make the most of it. [[{“value”:”

When you fly in business class, you want to have the best possible travel experience. That’s what you’re paying for, after all, and it usually isn’t cheap. For international flights, business-class airfare often costs $3,000 or more.

I’m big on enjoying my travels, so I always book business class. It’s probably worth mentioning that I don’t always pay in cash. I usually book expensive tickets with points from my travel credit cards — I highly recommend getting this type of card if you like to travel.

Since I travel in business class often, I’ve figured out which perks tend to be the most important. If you’re wondering what to look for, here’s my list every time I book a flight.

Lie-flat seating

On long-haul flights, business class may have either lie-flat seats or large recliner-style seats (similar to the seats in domestic first class). I’ve experienced both, and let me tell you, it’s a world of difference.

If you’re booking business class on a long flight, make sure it has lie-flat seating. It’s so much more comfortable when you can turn your seat into a bed, and it makes sleeping much easier. Recliner-style seats are better than economy, but they still get uncomfortable once you’ve been sitting in them more than a few hours.

You can see if an airline has lie-flat seating in business class when booking your flight. Or, go to the website SeatGuru. Plug in the information for the flight you’re interested in booking, and SeatGuru will show you the seating plan.

Lounge options in the departure airport

A business-class ticket normally gets you into one or more airport lounges. You’ll likely have access to lounges operated by the airline and/or its partners.

Lounge quality varies, but it’s pretty much always more relaxing to be in a lounge than the boarding area. And if you’re flying internationally, there may be some top-tier lounges available. The business-class lounges in international terminals are often far nicer than what you’d find before a domestic flight.

If you have multiple flight options, I’d recommend checking out each airlines’ lounges in your departure airport. If one airline offers a lounge and the other doesn’t, or if one airline has more highly regarded lounges, that can help you decide which to choose.

The most direct route possible

One of my flight-booking rules is to get there as quickly and directly as possible. Most of us have limited vacation time. The less time you spend on travel, the more time you’ll have to enjoy your vacation. Also, there’s more chance of issues on flights with layovers. Each connection is another opportunity for a delay, a missed flight, or for checked baggage to get lost.

Some travelers book flights with more stops to save money. But if you’re booking a longer flight to make business class more affordable, you might want to reconsider. You could probably save even more by just booking economy or premium economy on a shorter flight. Trust me, it’s worth it.

A reputable airline

It’s more than fair to have high expectations for business class. Whether you pay in cash or miles, you’re paying a premium.

When there are multiple airlines to choose from, I like to read up on them before I book. I’ll check J.D. Power satisfaction rankings, and I’ll read reviews from passengers who have flown business class on those airlines.

Problems can happen with any carrier. You can’t guarantee you’ll have the perfect flight. But you can at least improve your chances by choosing an airline with a reputation for arriving on time and delivering a good passenger experience.

A reasonable price in either cash or miles

Business class tickets are more expensive than economy, but prices can vary quite a bit. I’ve seen tickets for over $5,000, but I’ve found others for under $1,000.

The same is true if you’re booking with miles. Some tickets cost 30,000 to 60,000 miles each way. Others cost 100,000 to 150,000 miles each way, or more. For these award tickets, most airlines use dynamic pricing that’s based on demand, so there can be a huge difference in prices for flights on different days or even just at different times.

There are business-class deals out there, especially if you have miles through a frequent flyer program or your credit cards. You’re more likely to get a deal if you start shopping for flights early and if you’re flexible about when you travel.

Business class has lots of perks, including many that I haven’t mentioned here. For example, the food’s better, but I don’t base my travel plans around which airline has the best business-class menu. I’ve found that the items above have the biggest impact on my overall travel experience.

Alert: our top-rated cash back card 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 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.

“}]] Read More 

Shopping at Aldi could save you money. Read on for these tips to maximize your shopping experience. [[{“value”:”

Putting food on the table is hardly an inexpensive prospect these days. Although grocery prices have cooled, they’re still up 1% from a year ago, as per February’s Consumer Price Index. So you may be eager to do what you can to save money when feeding your family.

One tactic that may prove effective is doing more of your shopping at Aldi. When you roam the aisles at Aldi, you won’t see many of the brands you recognize. Aldi’s shelves are largely filled with lesser-known brands that allow the store to offer up lower prices.

But if you’re new to Aldi, it’s important to know how to navigate the store. Here are a few tips to make the most of your Aldi shopping experience.

1. Do your shopping early in the day

One pitfall Aldi shoppers tend to encounter is that the store’s inventory isn’t always consistent. You may find that certain staple items on your shopping list aren’t always available.

It could pay to do your Aldi shopping in the morning, right when the store opens. If you manage to beat the crowds, you might get there while the shelves are newly stocked, thereby gaining access to inventory before other shoppers arrive and deplete it.

2. Plan out your meals before you go — but have backup meals

Aldi’s super-low prices might tempt you to add extra items to your cart at a time when you’re trying to conserve funds. So it’s a good idea to head to Aldi with a shopping list based on the meals you’re planning to cook. That could prevent impulse buys that ultimately mess with your budget.

At the same time, since Aldi’s inventory can be a bit unpredictable, have a backup plan. Come up with a few replacement meals and their respective ingredients in case you can’t pull off your first choice meals due to missing items.

3. Check out the store’s Fan Favorites

Aldi’s website features a Fan Favorites section that highlights the items shoppers love the most. It pays to click through that list and see if any of the items on it satisfy a need of yours or seem like they might be a good addition to your fridge or pantry.

For example, one item on the list is Mama Cozzi’s Take and Bake Deli Pizza. If you’re someone who tends to order pizza pretty frequently, you may find that this is a great way to put a quick dinner on the table at a much lower price point.

Aldi isn’t a suitable supermarket for everyone. If your schedule is busy and you only have time to shop for food once a week, then Aldi may not cut it given its limited and often inconsistent inventory. But if you have the time and patience to sometimes make repeat trips, then you may find that shopping at Aldi does a world of good for your grocery bills. And if you follow these tips, you may find that your shopping experience there is a positive one overall.

Alert: our top-rated cash back card 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 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.

“}]] Read More 

Do you hope to become a small business owner? Make sure you’re fully prepared before you start a business. Here’s what you can do first to prepare better. [[{“value”:”

Many people have dreams of starting their own company. Being a small business owner can be rewarding. But setting yourself up for success before you begin this new and exciting adventure is essential. Many people are so eager to jump into a new lifestyle that they don’t do proper planning. Here’s one thing you should consider doing before starting your small business.

A business plan is a must for every small business

If you hope to take out a small business loan, your lender will likely require a business plan. But even for soon-to-be entrepreneurs who don’t need help with funding, a business plan is a powerful business tool. Anyone who is considering running a small business should have one.

A business plan is a document that outlines your business goals. Drafting this document will give you more time to consider your goals and set expectations. It will guide you through the many stages of your business, including when you first start and as you continue to grow.

What to include in your business plan

Here’s an overview of some of the elements that you should include in your small business plan.

Executive summary

This section will give an overview of your business — think of it as a quick introduction. It should highlight your mission statement, provide information about the company’s ownership structure, and describe the products and services you will offer.

Company description

In this section, you’ll describe your business, what it is, and why you’re creating it. You should also outline who your business will serve and what problems it will solve. Don’t forget to include your official company name.

Market analysis

The market analysis section is where you’ll discuss the details of your target market and explain why they need your products and services. You should also discuss your competition, obstacles you may face when entering your industry, and how you’re prepared to overcome them.

Organization and management

This is where you’ll explain your company’s structure. You should discuss who will be running the business, provide insight into the other people involved in its operations, and explain why each person is a good fit for their role.

Products and services

In this section, outline the products and services your brand will offer. You should also include information about future products and services you hope to provide as your business grows.

Marketing and sales strategy

Next, you’ll describe your marketing and sales strategies and discuss how you plan to promote your company and its offerings. To succeed, you’ll need a solid plan to get the word out about your offerings.

Financial plan

Many small businesses fail because they lack a solid financial plan. Finances are a big part of any business. You want to make sure that you consider the costs associated with running your company and how you will afford to stay afloat.

You should provide insight into your current financial situation and include future projections. If you’re hoping to get help with funding, this is an essential section of your business plan that should be detail-packed.

What could happen if you don’t draft a business plan?

As I mentioned earlier, those who don’t need funding may be able to get away with not developing a business plan. But that’s not recommended. Outlining this critical document can help your business succeed and give you the direction and clarity you need.

Here are some issues that may arise if you don’t create a business plan for your small business:

You may waste time guessing your way through critical business decisionsYou may struggle to raise funding for your small business endeavorsYou may feel “stuck” and lack directionYou may not get the results you want

Spending time on this vital document is worthwhile for best success. Check out our small business resources for additional tips to help you navigate your business journey.

Alert: our top-rated cash back card 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 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.

“}]] Read More 

Costco memberships can offer a lot of value. But read on to see why it may not make sense to renew yours. [[{“value”:”

A basic Costco membership costs $60 a year, while an Executive membership costs $120. The fee you pay for your membership may be more than worth it when you consider the savings you’re able to reap on the various items you buy there, from groceries to apparel to household essentials.

But there may come a point when it doesn’t make sense to renew your Costco membership. Here are a few signs it may be time to part ways with Costco.

1. You don’t use your membership all that often

Maybe you joined Amazon Prime last year and have gotten into the habit of ordering items on the site and having them shipped rather than hitting the store. Or maybe a shiny new Target opened up down the road, and you’ve been running there frequently instead of making the 15-minute drive to Costco.

If you realize you rarely go to Costco anymore, then it may be time to rethink your membership. However, don’t automatically cancel because your Costco visits have declined. Instead, run the numbers.

Perhaps you’re now only visiting Costco once every three months. But if you’re paying $60 for a membership and are saving $20 each time you go, then paying the fee still makes sense. But if you only see yourself going once every three months and you only save an estimated $10 per visit, then the numbers don’t quite work out.

2. Every time you go to Costco, you overspend

Because Costco’s inventory is so extensive, it can be hard to control your spending. After all, when you’re looking at a great price on everything from clothing to electronics to snacks, it’s hard to say no to things that don’t really quite fit into your budget.

If you find that pretty much every Costco outing of yours results in you spending money you weren’t supposed to, to the point where it’s impeding financial goals or leading to debt, then it may be time to cancel your Costco membership. While you might spend a little more at the regular supermarket on things like food, if spending an extra $6 per week saves you from a $20 impulse purchase, it may be worth it.

3. Costco is no longer convenient for you

If you’ve moved and no longer have easy access to a Costco store, then that alone may be reason enough to cancel your membership. You can tell yourself you’ll place orders online and use your membership that way, but the value there isn’t as great.

Costco commonly builds the cost of shipping into its online prices. Item prices are often 10% to 20% higher on Costco.com than in stores.

Plus, sometimes, you have to meet an order minimum to get free shipping, such as on items that are part of Costco’s two-day delivery program, which require you to spend $75. So what may happen is that you spend extra to get free shipping, thereby shelling out money when you didn’t need to.

For many people, keeping a Costco membership is a no-brainer. But if any of these situations apply to you, then you may want to consider not renewing yours.

Alert: our top-rated cash back card 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 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.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Maurie Backman has positions in Amazon and Target. The Motley Fool has positions in and recommends Amazon, Costco Wholesale, and Target. The Motley Fool has a disclosure policy.

“}]] Read More 

There’s lots of misinformation out there about credit scores. Check out some of the most common credit score lies so you know what not to believe. [[{“value”:”

Your credit score is a way of rating how reliable you are as a borrower. If you have a high credit score, it indicates you’re more likely to pay back money you borrow. Based on that, lenders will offer you lower interest rates. You’ll be able to qualify for credit cards with better perks. And you’ll be more likely to get approved when applying to rent an apartment.

Those are just a few examples of how having a high credit score makes life easier. If you’re currently working on your credit score, you may already have an idea of what you need to do.

Unfortunately, some of the credit score wisdom that people share isn’t accurate. If you’ve heard any of the following lies about your credit score, you can and should disregard it.

1. Carrying a balance is good for your credit score

This is a common misconception, and it’s also one of the most harmful. I often hear about people who keep a $50 to $100 balance on their card every month, even though they could pay it off. And it’s all because of a myth that this is better for your credit than a $0 balance.

It’s good to use your credit card regularly — at least once a month. That may be where this myth comes from. When you use your credit card and pay the bill on time, it builds your payment history, the most important factor in your credit score.

But you don’t need to carry a balance, and there’s no benefit to doing so. There is a drawback — when you carry a balance, your card issuer charges you interest on your purchases. So if you follow this advice, it will cost you money. The best thing to do with your credit card is to always pay the bill in full.

2. It hurts your score when you have too many credit cards

When I tell people how many credit cards I have, they sometimes ask, “Isn’t that bad for your credit score?” Fortunately for me, it’s not. In fact, the number of credit cards you have isn’t a factor in your credit score.

Now, there are ways that opening lots of credit cards can affect your credit. Each time you apply for a credit card or loan, the lender runs a hard credit check on you, which normally takes a few points off your credit score. These hard credit checks can add up if you apply for multiple cards in a short time period.

Also, when you open a new credit card, that lowers the average age of your credit accounts. This is a factor in your credit score, albeit a minor one.

3. You shouldn’t close any credit cards because it will lower your credit score

As mentioned above, the age of your credit accounts impacts your credit score. If you have a longer credit history, then you’re considered a lower risk.

For that reason, a common piece of advice is to avoid closing credit card accounts, especially your oldest credit cards. If you close them, you’ll lose their credit history, the age of your accounts will go down, and your credit score will drop.

Except that’s not how it works. When you close a credit card, it doesn’t just drop off your credit history overnight. If it’s having a positive impact, it stays on your credit file for 10 years (negative accounts stay there for seven years, by the way). During that time, it continues to help your credit score.

4. You have a single credit score

While it’d be a whole lot simpler if this were true, there’s more than just one type of credit score out there. There are three credit bureaus that collect your data and calculate a credit score for you: Equifax, Experian, and TransUnion. There are also two credit scoring systems:

FICO® Score is the most widely used by lenders.VantageScore is an alternative created by the credit bureaus, and it’s what many free credit score tools provide.

On top of that, there are many different versions and variations in both of those credit scoring systems. For example, there are FICO® Scores for auto lenders, mortgage lenders, and credit card companies.

The most important takeaway is that you should make sure to use a credit score tool that provides your FICO® Score. Experian CreditWorks℠ Basic is the free tool that I use. This will give you a more accurate idea of the score lenders see when they check your credit.

If you want to learn more about your credit, you can get all the important information in The Ascent’s complete guide to credit scores. Remember that for as complex as credit scores may seem, there are not a lot of steps required to get a high score. Always pay your bills on time, don’t charge too much on your credit cards, and ideally, pay your credit cards in full every month. If you do all that, you’ll be on your way to excellent credit.

Alert: our top-rated cash back card 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 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.

“}]] Read More