Money Management

Would you buy an autographed basketball from five Lakers legends? Check out this bizarre deal and see whether it’s worth the price. [[{“value”:”

The more I shop at Costco, the more amazed I am by what the warehouse will sell. Massive crab legs. Jugs of butter. Kayaks, gazebos, solar panels. But every now and then I come across something that’s truly bizarre. Like a basketball hand-signed by five Lakers Legends: Kareem Abdul-Jabbar, Shaquille O’Neal, Magic Johnson, Kobe Bryant, and Jerry West. Not only was the signed basketball itself a surprise, but when I compared the price with other outlets, I was shocked at the difference.

Once again Costco proves it has the lowest prices

When you purchase the LA Lakers Legends Autographed Indoor/Outdoor Basketball on Costco.com, you’ll pay about $8,000. That’s about $2,000 cheaper than most other outlets. For example, you can find the same basketball listed on Fanatics for roughly $10,000. Likewise, sellers on eBay are also listing basketballs with all five signatures for $10,000.

For $2,000 less than leading competitors, then, you can own a basketball signed by five Lakers Legends. Plus, if you’re a Costco Executive member, you’ll earn 2% cash back (up to $1,000 per 12-month period). On a $8,000 basketball, that would equal $160 back. Sports memorabilia is also not excluded from Costco’s generous return policy, which guarantees a full refund if you’re not satisfied with your purchase.

In addition to Lakers basketballs, Costco sells signed gear from other players and teams, including:

Tom Brady New England Patriots football ($1,799.99)Mike Trout LA Angels bat ($5,499.99)Lionel Messi Inter Miami jersey ($3,999.99)Sylvester Stallone Rocky boxing glove ($1,249.99)

Before you buy sports memorabilia, make sure you have your ducks in a row

Costco only sells a limited supply of its sports memorabilia. So this deal likely won’t last long. If you’re a Lakers fan, then, you might be eager to get your hands on it before it sells out. Before you do, however, let’s take a step back and see if the purchase makes sense for you.

Anytime you buy high-valued sports memorabilia, you have to ask yourself where you’re going to store it. Will you keep it on display? Will you lock it up while you’re not at home? While you can put the basketball itself in tamper-proof glass, you might still want to protect it in case of a break-in or theft.

Likewise, if you’re keeping the basketball at home, you should verify that your renters or home insurance can cover collectibles. While home insurance policies typically cover collectibles, they usually impose very low coverage limits. If your insurance can’t cover the full value of your basketball, you may need to add a rider to your coverage, which could make your premiums slightly more expensive.

Finally, take a look at your budget to see if this purchase makes sense for you. Don’t let the “limited supply” of these basketballs prompt you to rack up credit card debt or buy something you come to regret. While you might be able to resell it later for the same price or higher, there’s no guarantee you’ll find a buyer.

But, hey, if now isn’t the right time, don’t sweat it. Costco frequently sells autographed sports memorabilia, sometimes from the same teams. If it doesn’t make sense to buy a Lakers basketball now, wait until a later day when you can buy it without any financial stress.

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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 positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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A high-yield savings account is a great place to keep your savings if you want to earn interest. But rates can fluctuate. Find out what that means for savers. [[{“value”:”

I’m a big fan of saving money and have been building my savings for several years. I keep my extra cash in a high-yield savings account to earn interest while my money sits in the bank. This type of savings account is ideal for people who want to get rewarded for savings.

But there’s one downside to high-yield savings accounts that you should know. I’ll explain more so you can better decide where to keep your extra cash.

How high-yield savings accounts work

Keeping your savings in a bank account that earns interest is wise. A high-yield savings account pays interest, and the rates are typically higher than traditional savings accounts. Opening a high-yield savings account is a smart strategy to earn more while you continue to save money. The longer you keep your extra cash in the bank, the more interest you can earn.

Your rates may change

Many of the best high-yield savings accounts now offer rates of 5.00% or more. If you have a sizable emergency fund or other savings, you could earn a solid amount from interest. But, while rates are high now, that may not be the case in a few months or next year.

Banks can alter interest rates at any time. If savings account rates are lowered, you’ll earn less interest. This is something to consider if you’re working hard to reach your savings goals and want to maximize the interest you earn.

How interest rate changes impact consumers

Interest rate changes impact consumers. The Federal Reserve interest rate (or federal funds rate) is the rate at which banks and credit unions borrow money from each other. The Federal Reserve makes decisions regarding the federal funds rate.

Between March 2022 and July 2023, the Federal Reserve increased rates 11 times, hoping to cool inflation. Many banks adjust their rates when the Federal Reserve rate is reduced or increased, which impacts consumers’ wallets.

Higher interest rates on loans, like mortgages, result in consumers paying higher interest fees when they borrow money. However, consumers with savings accounts can benefit. If banks increase their interest rates after Federal Reserve rate hikes, consumers with high-yield savings accounts can earn more interest on their savings, which can help their personal finances.

Here’s how to lock in interest rates on your savings

You can explore other banking products to avoid fluctuating interest rates. A certificate of deposit, or CD, is another bank account option. CDs typically offer higher rates than high-yield savings accounts, and the rate is guaranteed for a set amount of time.

This product can be an excellent solution for savers who worry about fluctuating rates. However, with this type of account, you must keep your money in the bank for a set time. Terms vary but can be as short as just a few months or as long as five years or more. If you withdraw your money before the end of the CD term, you risk an early withdrawal penalty.

Penalty fees can be expensive and usually amount to a certain number of months’ interest. You can avoid withdrawal penalties by opening a no-penalty CD. However, these CDs typically offer lower rates. CDs are ideal for savers who don’t plan to use their savings soon.

If you need to access your money within the next few months, avoid stashing it in a CD. But if you don’t have plans to use your savings soon, a CD may be worth exploring. Check out the best CD rates to learn more.

Savers should monitor rates

If you have a savings account, keep an eye on the interest rate. If you’re not paying attention, you may miss rate changes. A rate change could impact how much you earn. But remember, any money earned is better than nothing. So, even if rates decrease, keeping your cash in a savings account is better than having it in your checking account and earning no interest.

These savings accounts are FDIC insured and could earn you 11x your bank

Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts could earn you 11x the national average savings account rate. Click here to uncover the best-in-class accounts that landed a spot on our short list of the best savings accounts for 2024.

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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New England fans and sports card collectors have a chance to buy an extremely rare Tom Brady card. Check out this deal at Costco and see if it’s worth the price. [[{“value”:”

If you haven’t surfed Costco’s website before, you might be surprised that it sells autographed sports gear. Yes, as if buying a 72-pound cheese wheel or 8-foot tall stuffed bear wasn’t bizarre enough, Costco’s website also sells autographs from sports legends, like Mickey Mantle, Magic Johnson, and Tom Brady.

Right now, Costco is selling a Tom Brady Autographed 2000 Playoff Prestige Spectrum Red Rookie Card No. 286. The card shows Tom Brady when he played for the University of Michigan, while he was still widely unknown. Love him or hate him, this autographed card is a rarity — and the Costco price is almost as competitive as Brady himself.

A Tom Brady rookie card is remarkably cheap at Costco

Currently, you can buy this Tom Brady 2000 rookie card for roughly $40,000 on Costco’s website. The card is graded a 9.5 (also known as the “gem-mint,” since it’s immaculate) by Beckett Authentication and also has a perfect 10 for the signature.

While $40,000 isn’t cheap, Costco has the lowest price for this specific card. Significantly lower than other outlets, in fact. For example, sellers on eBay are listing the same autographed card (No. 286) for $49,500. Meanwhile, the website Sports Collectible has the card listed for about $53,000, while Sports Memorabilia is selling it for roughly $76,500.

Why does the card cost so much? Three reasons: the signature is immaculate (a perfect 10), the card itself is extremely rare (only 100 are in print), and Tom Brady is — well, you know who he is. If there were more cards in print (say, 1,000) or the card was damaged, it wouldn’t cost as much as a new Model 3 Tesla. As it were, this card is a rarity, which makes its lower price on Costco pretty attractive.

This isn’t the first time Costco has sold autographed sports memorability for a significantly lower price. For instance, it’s also selling a basketball signed by five Lakers legends, including Kareem Abdul-Jabbar, Shaquille O’Neal, Magic Johnson, Kobe Bryant, and Jerry West. The price for that is roughly $8,000, which is about $2,000 cheaper than the lowest price at other outlets.

This seems like a good investment. Should I buy one?

If you’re an investor who wants to turn a profit, you might wonder if a sports card is a lucrative endeavor. While it certainly can be, buying a rare sports card — especially one at this price — can be risky and not right for everyone.

The main problem with buying expensive sports memorabilia is liquidity. Unlike most stocks and ETFs, which can be bought and sold relatively quickly, rare collectibles could take you a long time to resell. For example, the Tom Brady rookie card that I found on eBay (price: $49,500) was first listed on Nov. 27, 2023. Unless you list your card for a lower price, expect to have to wait for a buyer.

Secondly, sports collectibles have physical risks. They can be damaged, destroyed, or stolen. Unless you have a safe at home, you’ll likely need to invest in one before you buy a Tom Brady rookie card. Likewise, it would be prudent to check your home or renters insurance to see if you can buy extra coverage for collectibles.

All in all, the price for this Tom Brady rookie card is comparatively low. If you’re a New England Patriots fan or sports collector who can budget for this expense, you might not find a better price. Better yet, if you’re an Executive Costco member, you can earn 2% back on your purchases (up to $1,000 per 12-month period). Add in Costco’s 100% generous return policy, and you might not find a better outlet to buy your sports memorabilia.

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 positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.

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Receiving a CP2000 notice can seem scary. Read on to understand what it is — and learn why it may not be a big deal. [[{“value”:”

So you submitted your tax return and heaved a big sigh of relief at having one unpleasant task in your life done with. But what if, weeks later, there’s now a notice from the IRS sitting in your mailbox called a CP2000?

At first, a CP2000 notice might seem like an audit — but it’s not. It’s merely a notice from the IRS indicating that the information you entered on your tax return doesn’t match the agency’s records. And so while there’s no need to panic, you also shouldn’t ignore your CP2000 notice either.

Why the IRS might send you a CP2000 notice

Generally, when the IRS issues a CP2000 notice, it’s because it’s seeing information on your tax return that doesn’t align with the information third parties have reported to it. As an example, let’s say you reported $452 in interest income from your savings account. The IRS might have a 1099 form on file saying you actually received $521 in interest.

So maybe you just made an error copying over the number in your tax software, or you entered a number from a different form instead. The IRS isn’t necessarily going to rush to accuse you of tax fraud or intentionally underreporting income. But in this example, what’ll generally happen is that the IRS will propose an adjustment to your tax return based on the information it has.

If you agree, you fill out the notice and send it back. If you don’t agree, you’ll generally need to provide proof (like the original document) to back up your claim that the original amount you entered is correct.

Either way, it’s important to read your CP2000 notice carefully so you understand exactly what it’s about and exactly what information the IRS is asking of you. It’s also important to send back your response as per the instructions provided by the IRS.

Generally, the IRS cannot finish processing your tax return until it receives your response to a CP2000 notice. So if you’re waiting on a tax refund, sitting on that notice might delay that money from hitting your bank account.

It’s not always bad news

You might assume that a CP2000 notice is going to tell you that you messed up and you now owe the IRS more tax. But actually, a CP2000 notice has the potential to work in your favor. The IRS might send you a notice saying that you overstated your income rather than understated it, in which case you may be due a larger refund.

That’s why you shouldn’t flip out if one of these notices shows up at your door. Instead, figure out how to respond and then send in your response as quickly as possible.

Remember, if you agree with the proposed changes on your CP2000 notice, all you really need to do is sign it and send it back. There’s little work involved. There may be more to do on your part if you don’t agree with the proposed changes, but even so, a little effort could help the IRS get the clarity it needs to process your return and get your refund into your pocket.

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.

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Many consumers are trying to trim their spending. Find out how Comcast’s NOW line-up could help consumers save money on internet, TV, and mobile services. [[{“value”:”

Consumers are looking for ways to reduce spending as everyday living costs continue to rise. Expenses like home internet, mobile phone service, and streaming content can come with high monthly fees. By seeking more affordable solutions, consumers can honor their budgets.

Comcast recently announced that it will offer prepaid mobile phone service, TV, home internet, and wifi passes for a low monthly fee. These plans will be available month-to-month for added convenience and greater flexibility. Here’s what you need to know about this news.

Introducing Comcast’s NOW brand

Comcast is unveiling several low-cost prepaid solutions to better meet its customers’ needs. These offerings could help more people get the internet, television, and mobile phone services they need while keeping more money in their checking accounts.

Here’s an overview of the offerings included in Comcast’s NOW portfolio.

NOW TV

Xfinity internet customers can enroll in NOW TV for $20 per month. This streaming service features live and on-demand programming from more than 40 networks and free access to Peacock Premium. Customers must have an Xfinity internet package to subscribe to this plan.

NOW internet

Comcast will offer two prepaid home internet plans with taxes and fees included in the price:

100 Mbps plan for $30 per month200 Mbps plan for $45 per month

Each plan will include unlimited data access and an Xfinity gateway device.

NOW Mobile

Comcast will offer prepaid mobile phone service with unlimited 5G data, talk, and text for $25 per line, plus free access to Xfinity wifi hotspots. Subscribers can pause and resume their service at any time. Xfinity and NOW Internet customers can subscribe to NOW Mobile.

NOW WiFi Pass

Comcast will also offer a NOW WiFi Pass for $20 per month. This plan provides 30-day access to over 20 million Xfinity WiFi hotspots nationwide.

The NOW WiFi Pass and NOW TV are currently available in all areas where Comcast provides service. NOW Mobile and NOW Internet are being tested in select areas, but will be available elsewhere in the coming weeks.

NOW offerings give customers more flexibility

Comcast’s newly launched NOW brand gives customers more flexibility. It’s refreshing to see affordable prices like this. Many people are likely paying much more for similar services.

It’s also nice that these offerings are made available without requiring customers to commit to a lengthy contract. Some brands promise affordable prices but lock customers into one- or two-year contracts. Customers who break their contract are responsible for paying an early termination fee.

Perhaps these offerings will encourage other brands to change how they price their services so more people can access low-cost services that could reduce their monthly spending.

Seek out affordable alternatives to keep your spending in check

If you’re sick of paying sky-high prices for mobile phone service, home internet, or streaming content, now is an excellent time to consider changing service providers or plans. You can use one of the best budgeting apps to review your spending and determine if you can save by making service changes. Any money saved adds up and can improve your personal finances.

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.

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Debit cards are a convenient way to make purchases, but they have their pitfalls. Here are five debit card errors you don’t want to make. [[{“value”:”

Debit cards seem really simple on the surface: You swipe the card, enter your PIN, and walk out with your purchase. But they’re not quite the same as the cash they’re intended to replace.

Debit cards carry many of the same risks as credit cards, and the wrong move could put your money at risk. Here are five costly debit card mistakes you really want to avoid.

1. Sharing your card number with others

Thieves can still gain access to your funds even without your physical card. That’s why it’s crucial to protect your card number and PIN from others. This means not leaving your card lying around for others to find and not writing your PIN anywhere where someone could stumble across it.

If you use your debit card to shop online, it’s best to do so on a private wifi network you trust, just in case. Public networks can be more easily hacked, and thieves may be able to see what you’re doing on your computer, even if they’re not physically looking over your shoulder. Thankfully, most websites are now encrypted, so as long as the one you’re using is (look for a lock symbol or a URL starting with “https”), you are likely safe.

2. Not checking your balance regularly

Checking your balance regularly is crucial to avoiding financial mishaps. If you don’t have overdraft protection on the account, the bank will just decline your card if you attempt to withdraw more money than you have. But this can still cause problems when making a purchase. You could also miss unauthorized purchases a thief made with your money if you don’t keep tabs on your bank account.

Some banks enable you to set up transaction alerts, which notify you of suspicious activity like large withdrawals. You can also set up balance alerts so you know when your money is getting low. If this isn’t an option, check your account every day or every few days so you know where you’re at.

3. Overdrawing your account

Overdraft protection is something you have to opt into these days. It enables you to go ahead with a debit card purchase even if you don’t actually have the cash you need in your account at the moment. But there can be some high costs associated with this. Most banks charge around $35 per overdraft, though there are a few that offer some fee-free overdrafts now.

Keeping an eye on your balance, as mentioned above, can reduce your risk of overdrafts. You can also opt out of overdraft protection if you’re worried about incurring too many overdraft fees.

4. Waiting to report a lost or stolen card

Debit cards generally have protections that prevent you from being held liable for fraudulent transactions someone else makes with your money. But these protections rely upon you to promptly notify your bank that your card has been lost or stolen, so it can cancel the card and issue you a new one.

If you report a card lost or stolen within two business days, banks generally can’t hold you liable for more than $50 in fraudulent transactions. If you wait longer, you could be responsible for $500 or more in purchases or transfers you didn’t make.

5. Using ATMs that charge fees

Most banks permit you to use ATMs in their network to access your checking or savings account funds without paying a fee. Some banks also partner with nationwide ATM networks to offer fee-free access to their customers. You should be able to look up the nearest fee-free ATM using your bank’s online or mobile tools.

Whenever possible, try to stick to fee-free ATMs. ATM fees may only amount to a few dollars, but why waste even a little money when you don’t have to? If you have no choice but to pay for using an ATM, try to withdraw only as much as you need until you reach a bank branch or a fee-free ATM.

A lot of these moves are second nature to most debit card users, but if anything surprises you, you may want to rethink how you use your debit card. And if you have any questions about how your card works in particular, reach out to your bank for more information.

These savings accounts are FDIC insured and could earn you 11x your bank

Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts could earn you 11x the national average savings account rate. Click here to uncover the best-in-class accounts that landed a spot on our short list of the best savings accounts for 2024.

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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