4 Signs You Aren’t Ready for a Credit Card

There are several benefits to opening up a joint bank account with a partner or spouse. For one thing, if you and your partner share bills, then it’s easy to have a single checking account you dip into to pay those expenses. And if you’re working toward specific financial goals together, like buying a house, it helps to have your money in a joint savings account.Plus, opening a joint bank account gives you more FDIC insurance protection. When you open an account on your own at an FDIC-insured bank, you’re granted up to $250,000 worth of protection. But that limit rises to $500,000 when you have a joint account ($250,000 per account holder). However, if you’re going to open a joint bank account, then it’s important to be on the same page about how you manage it. And that generally means consulting one another before taking a large withdrawal.You can take withdrawals on your ownWhen you have a joint bank account, you don’t need your partner’s permission to take a withdrawal. You can remove funds from that account on your own, and your bank won’t ask for verification that the other person on the account is okay with that transaction. But just because you can make an independent decision to withdraw money from a joint bank account doesn’t mean you should. If both you and your partner have contributed to that account, then you both deserve to have a say in how that money is spent. And if you don’t consult one another, you could end up with a financial mess on your hands.Let’s say you remove $1,000 from your joint checking account to put down a deposit on a home improvement project without consulting your partner. It may be that they just wrote a check for $2,000 to cover a big car repair, but you may not have realized that. Without discussing payments with each other, you risk overdrawing your account.But even if you don’t end up in that specific situation, not discussing large withdrawals with one another could damage your relationship. And that could have serious consequences. When money becomes a source of conflictThe Jimenez Law Firm says that for every 10 U.S. marriages that end in divorce, four are due to money matters. You don’t necessarily need to consult your partner if you’re removing $80 from your joint bank account to buy groceries or pay the water bill — those are ongoing expenses. But you probably should talk to your partner before taking a $700 withdrawal to update your wardrobe. And it goes both ways. Any time you’re looking to take a withdrawal for something that isn’t a recurring bill, or a joint bill you both know about, it’s best to have a quick conversation to make sure both of you are on board. If you keep removing funds without consulting each other, you might not only whittle down your account balance, but create a scenario where there’s loads of resentment. And that’s not what you want. So sit down and come up with a plan for managing your joint account together. It could work wonders for your finances, as well as your relationship.

By: Maurie Backman |
Updated
July 12, 2023– First published on July 12, 2023

Some people love nothing more than roaming the aisles at Walmart. And it’s easy to see why.Walmart is known for its ultra-low prices and broad selection, so shopping there might result in a huge amount of savings. And there’s something about the convenience of being able to buy grapes, laundry detergent, toys, and underwear all under the same roof. But if these signs apply to you, you may want to steer clear of your local Walmart and do your shopping elsewhere.1. You tend to give in to impulse buysSome people have the mentality that because Walmart offers such low price points, it’s okay to load up on unplanned purchases. If you’re someone who tends to give in to impulse buys at Walmart, but you’re also already grappling with credit card debt, then you may want to do your shopping elsewhere.When you’re dealing with a big-box store, it can be hard to push yourself to stick to a list, because there are so many different aisles loaded with stuff calling your name. So if you know you’re really not capable of visiting Walmart without buying something other than the groceries you came for, it could pay to spend a little more money on food at a regular supermarket, but save yourself money all in by not being tempted to buy clothes or electronics.2. You get overwhelmed at larger storesThe fact that Walmart tends to be so massive can be a blessing as well as a curse. Some people get overwhelmed at the amount of selection at Walmart, and that, too, can lead to some poor choices when it comes to making purchases. Plus, it can make your shopping experience less pleasant. So if you find that entering Walmart makes your heart race just a bit, consider avoiding it.3. You have less expensive options for buying groceries and essentialsIt’s true that Walmart’s prices tend to be competitive. But that doesn’t mean they’re the most competitive option available to you.Maybe you pay for a Costco membership. You may find that it’s cheaper to buy household staples or groceries there in bulk compared to Walmart. Case in point: Walmart sells a 12-pack of Bounty Advanced paper towels for $46.95. Costco’s regular price for that item is $29.99. (Note that these are online prices and prices might vary in stores.)Also, you might have access to a discount grocer in your neighborhood, like Aldi. Your grocery bill might be cheaper if you turn to Aldi to do your food shopping versus Walmart, especially if you’re someone who’s not so picky about the brands you buy.It’s easy to see why shopping at Walmart might seem like a good idea. But it may not be the best choice for you.Think about your experience shopping at Walmart and the spending patterns you tend to uphold there. You may want to stay away from Walmart — at least temporarily — and see if shopping at other stores allows you to spend less and save more.

By: Maurie Backman |
Updated
July 12, 2023– First published on July 12, 2023

If you’re a self-proclaimed big-time snacker, then a Costco membership can be both a blessing and a curse. On the positive side, buying snacks at Costco could mean racking up a lower credit card tab in the process compared to doing your snack shopping at a big-box store or a regular supermarket. On the less positive side, if you tend to have trouble with portion control, buying a bag containing 27 servings of potato chips probably isn’t the best way to go.But either way, you have to hand it to Costco — its selection of snacks is quite impressive. And recently, Costco added a new item to its lineup that fans are already raving about.How does a bag of Reese’s Dipped Animal Crackers sound to you?If you’re a hard core salty snack lover who doesn’t tend to dabble in chocolate, then this latest Costco offering may not appeal to you. But if you’re someone with a major sweet tooth, then you may want to head over to your local Costco store and see if Reese’s Dipped Animal Crackers have hit the shelves.Eat This, Not That! reports that Reese’s Dipped Animal Crackers are the latest snack to make an appearance at Costco, and they’ve gotten their share of positive reviews so far. If you’re not sure what these entail, imagine your basic animal cracker covered in peanut butter and then smothered in milk chocolate.Initial customer reviews say that this new product is “extremely addictive” and “amazing.” So that’s pretty encouraging to hear.You have options outside of CostcoSome Costco food product offerings are exclusive to the warehouse club giant itself. That doesn’t happen to be the case with Reese’s Dipped Animal Crackers, though. You can find them at other major retail chains like Target and Walmart.But if you want to save money in the course of trying out Reese’s Dipped Animal Crackers, then it pays to head over to Costco if you already have a membership. Chances are, you’ll be able to snag these at a lower price point on a per-ounce basis.Of course, you’ll also generally be limited to buying a bulk-size bag. And again, that’s a good thing or a bad thing, depending on how you want to look at it.But if you want to reduce your chances of consuming a bulk pack of Reese’s Dipped Animal Crackers in one sitting, when you bring your bag home, flip it over to see how many individual portions it’s supposed to contain. From there, divide your goodies up into individual snack bags and bust them out one at a time.Unlike Costco bakery items, which generally have a limited shelf life and have to be consumed quickly or otherwise stored in the freezer, these Reese’s Dipped Animal Crackers should have more staying power. That said, fans report that they’re delicious frozen, so you may want to stick them in your freezer regardless. That way, they’ll really last as long as you want them to.

By: Maurie Backman |
Updated
July 14, 2023– First published on July 14, 2023

For many people, the $60 it costs to join Costco for a year is more than worth the money. That’s because that membership fee can more than pay for itself in the form of savings on groceries and household essentials.But while a lot of people would agree that Costco is a fabulous store, that doesn’t mean it’s a great place for you to shop. Here are a few reasons you may want to steer clear of Costco — and not spring for a membership.1. You’ve moved and your new home seriously lacks storage spaceMaybe it made sense to maintain your Costco membership when you had a lot of closet space at home. But if you’ve recently downsized and your new home lacks storage in a serious way, then it’s harder to make the case for shopping at Costco.Sure, you might snag a discount by purchasing your paper towels and household cleaners in bulk. But if you don’t have space in your closets to house those items, and you’re forced to leave them out for guests to see or members of your household to trip over, then it’s not really worth the savings.2. Your schedule is so busy you rarely cook or eat at homeBuying your groceries at Costco could save you a lot of money — if you actually eat them. But it’s important to be honest with yourself about your cooking habits. If you have a very busy schedule that leaves you with little to no time to cook or prepare meals at home, then you may be better off doing minimal shopping at a regular grocery store and skipping those bulk grocery purchases.Furthermore, let’s say your career is such that you’re often not home for meals — for example, you’re in sales, and so you’re out dining with clients a few nights a week. That, too, makes Costco a less appealing place to shop.3. You’re not good at managing your grocery inventory at homeBuying groceries at Costco, as opposed to a regular supermarket, could indeed result in a lower credit card tab. But if you’re someone who struggles to manage their inventory at home, then you may want to steer clear of Costco to avoid ending up with too many of the same items — a habit that could lead to food waste and lost money.Some people keep a tight inventory of the items they have in their pantry and fridge, whether by maintaining spreadsheets or using apps. But if you know you’re just plain not going to make that effort, then you may want to stick to regular grocery stores for buying food. That way, if you wind up purchasing waffles when you already have a box at home, you’ll end up with 16 or 20 waffles in total — not 72.There are plenty of good reasons to shop at Costco on a regular basis. But if these signs apply to you, it could mean that Costco isn’t your optimal shopping destination at all.

Are you one of those people who don’t know what to do with their old or broken electronic devices, such as phones, laptops, and tablets? You can now dispose of them in an eco-friendly way and even get in return gift cards to Walmart or Sam’s Club. Through Walmart’s Gadget to Gift Cards Program, you can sell your used electronic devices for recycling. Here’s how the program works.What is Walmart’s Gadget to Gift Cards program?Walmart’s Gadget to Gift Cards is a partnership between Walmart and CExchange, a company specializing in electronics recycling and trade-in services.The program aims to help customers dispose of their old electronic devices in an environmentally friendly way, while providing a convenient platform as well as gift cards to get rid of them.How does it work?To begin, visit the Gadget to Gift Cards website and complete online appraisals for all the items you want to trade in. When sending your items, you are responsible for packaging them securely, but CExchange will cover the shipping costs.After receiving your items, CExchange will carefully evaluate them to ensure they match the appraisals. If everything checks out, the well-known recycling service for retailers will send you a confirmation email. You can expect to receive your gift card two to four weeks after the products are received.Items in good condition and working order will be resold, ensuring their continued use. Items that are no longer usable will be disposed of responsibly, taking care of the environment. For items that fall in between, Walmart will sell them in the secondary refurbishment market.The Walmart eGift Card is a reusable card for shopping, gift giving, and more. It can be used for purchases at Walmart.com or any Walmart store nationwide. Sam’s Club members can also use it for purchases at Samsclub.com. The Walmart Gift Cards are exempt from sales tax, and they have no expiration date.What items can you trade in?The CExchange program accepts a wide variety of electronic devices, from smartphones and tablets to MP3 players, video games, cameras, laptops, and GPS units, among others. You can even send accessories such as chargers and adapters. You can find the list of accepted items on the Gadget to Gift Cards website.You can even send broken or damaged items as long as they appear on the list on the website. When appraising a damaged item, you will need to provide an accurate description in the “Condition” section. This will determine how much money you’ll receive.How much will I get?During the appraisal process, you find your device and answer a few questions about its working condition and what accessories you will include. The CExchange offer will be calculated immediately.During the evaluation process, however, if there are any discrepancies in the condition, model name/number, or accompanying accessories, the firm will reach out to you via email and provide a revised appraisal.There’s no limit to the number of electronic devices you can recycle, meaning you can clean out your entire house and add money to your savings account.Is it worth using this service?Walmart is now leading the way in secondhand electronics by allowing customers to recycle their used electronic devices. Trading in old electronics not only declutters your space, but also allows you to earn gift cards in return.As much as we take care of our devices, they only have a limited lifespan. However, throwing them in the trash is neither practical nor environmentally responsible. Over 50 million metric tons of electronic waste (e-waste) is produced worldwide each year, with an average of seven kilograms, or over 15 pounds of e-waste generated per person.This e-waste, when left in landfills, releases toxic chemicals that harm the environment and living organisms. By choosing to trade in your old electronics, you not only benefit financially but also help protect the planet and its inhabitants.The Walmart Gadget to Gift Cards program offers a convenient, environmentally conscious, and financially rewarding way to dispose of your electronic devices. By participating, you’re not only protecting the environment but also getting paid for doing so. If you have electronic devices that you no longer need, take advantage of the program and enjoy the benefits at Walmart or Sam’s Club, instead of contributing to the ever-growing electronic waste problem.