What Are the Monthly Payments on a $25,000 Personal Loan?

Are SNAP benefits enough?A monthly payment of $973 for a household of four equates to around $8 per person per day. While SNAP benefits aren’t designed to cover everything, it isn’t easy to feed a family on around $2.66 per person per meal. Indeed, research from the Urban Institute showed that the maximum benefits often don’t cover a family’s food costs. “Amid inflation, SNAP benefits did not cover the cost of a meal in 99 percent of counties in 2022,” said the report.The new benefit amount — a monthly increase of $34 for a household of four — is roughly in line with cost-of-living increases measured by the Bureau of Labor Statistics (BLS). Its latest Consumer Price Index figures show that the cost of all items in June, 2023 was up 3% over the year before. However, inflation does not impact all aspects of life equally.The BLS data also shows that food at home increased by 5.7% year over year. The new SNAP benefits do not match this. Hypothetically, a 5.7% increase in benefits for a family of four would mean a new monthly payment of $992, rather than the planned $973.In addition, this year brought the end of the pandemic-era emergency food benefits throughout the country. According to CBPP calculations, this meant the average person received about $90 a month less in SNAP benefits. Even factoring in the increased SNAP benefit amount, many households have seen a significant drop in their food benefit amount, and the revised 2024 payments will do little to close this gap.How to make your SNAP benefits go furtherIt can take time and energy to provide healthy food for your family on a strict budget. The challenge is that in a busy household, time and energy are also limited resources. Even so, if you can carve out some time to plan your grocery-shopping trip, it can make a big difference.Here are some ways you might stretch your SNAP benefits a little:Use cash back apps and coupons: Look for cash back apps that work in stores that take your EBT card. You’ll usually need to download an app and then scan your receipt after you’ve been to the store. Pay attention to coupons, whether in store or online as these can often carry hefty discounts.Always shop with a list: Planning your food shopping is one of the best ways to reduce costs. Even more so if you use a cash back app or coupons. Check what offers are available on items you normally buy before you go shopping. Mark the items that qualify for rewards or discounts on your list, so you don’t miss them when you’re shopping.Look for double up programs: There are Double Up Food Bucks or other programs in various states that essentially give you two for one on all produce at participating farmers markets and stores. It’s a great way to get more fruit and vegetables for your SNAP dollars.Buy in bulk and batch cook: It isn’t always easy to find the extra cash for bulk buying when you’re eking out every cent. However, if you can manage it, you may be able to save both money and time. You might, for example, batch cook a stew and freeze portions for future meals.Unfortunately, food insecurity still impacts many American households. If you don’t have enough money to feed your family this month, look for additional help. Find out what food pantries and soup kitchens are operating in your area on which days, and whether you’ll need to present any documents. Call United Way at 211 for information about assistance programs in your area.

By: Natasha Etzel |
Updated
Aug. 18, 2023– First published on Aug. 18, 2023

Calling all Girl Scout cookies fans! You can now pick up Girl Scout Thin Mints at Costco. That’s right — you don’t have to wait until the upcoming cookie season to satisfy your chocolatey-mint cravings. Some shoppers have reported seeing Girl Scout Thin Mint Bites at Costco. While these tasty treats aren’t the original full-sized cookies you know and love, they have a similar taste and are a bite-sized version. Here’s what you need to know about this exciting find. Pick up a bag of Girl Scout Thin Mints Bites at Costco You’re not alone if you’ve already devoured the entire collection of Girl Scout cookies you bought earlier this year. (This is a universal problem, right?!) But the good news is you don’t have to wait until next spring to get a taste of the No. 1 best-selling Girl Scout cookie. Some shoppers have reported seeing 20-ounce bags of Girl Scout Thin Mints Bites at their local clubs. While prices can vary by location, California and Texas shoppers have seen these sold for $12.69 per bag. Made by Edward Marc Chocolatier, these sweet snacks are inspired by the classic cookie we all love. Each bite-size piece features a crispy center with mint and dark chocolate. If you’ve been in the mood to try a new treat, this may be an item you want to look for the next time you’re at Costco. While they’re bite-size, we can’t promise you won’t finish an entire package in one sitting. Costco also sells other Girl Scout Thin Mints treats If you haven’t seen Girl Scout Thin Mints Bites at your local club, you may want to see if you spot other Girl Scout snacks instead. Costco members have reported buying other snacks inspired by the popular cookie. Here are some additional products to look for. Girl Scout Thin Mints PretzelsGirl Scout Thin Mints Pretzels are another tasty treat you may discover the next time you shop at your local club. Each 26-ounce bag features crispy snack-sized pretzels double-dipped in mint-flavored dark chocolate. Shoppers have reported seeing these for sale with price tags ranging from $9.29 to $9.99 per bag. You don’t have to worry about draining your checking account at that affordable price point. Girl Scout Thin Mints AlmondsIf that’s not enough mint-chocolate goodness for your taste buds, we have another product you may love. In past years, some Costco clubs have sold Girl Scout Thin Mints Almonds. While these mint-chocolate-coated almonds haven’t been spotted at Costco in the last year, they could show up again later. In 2021 and 2022, these were being sold for around $12.99 per 30-ounce container. I have a feeling I’m not the only one hoping they return to Costco. Could a Costco membership help you save money?Some shoppers find a Costco membership to be a worthwhile investment. To shop here, you must pay $60 to $120 per year, depending on your chosen membership type. But you could save significant money by purchasing everyday essentials and groceries in bulk. Worried you’ll overspend and rack up a big credit card bill? The best strategy is to always show up at your local club with a shopping list. And if you find yourself loading up on any of the Girl Scout Thin Mints snacks mentioned above, maybe stick to buying only one or two items at a time so you can satisfy your sweet tooth while continuing to honor your personal finance goals.

By: Maurie Backman |
Updated
Aug. 20, 2023– First published on Aug. 20, 2023

When I initially joined Costco, I didn’t spring for an Executive membership even though I knew that getting one would mean scoring cash back on my purchases. Back then, we had a kid-free household, so it didn’t make sense to buy the more expensive membership when we didn’t visit Costco so frequently.That decision wasn’t a bad one. But a different decision I made during my first year as a Costco member is one I later came to regret.When you become an inadvertent brand snobI’ve always been happy to eat at a hole-in-the-wall restaurant, and I’ve never been someone to splurge on expensive clothing. That just doesn’t align with my financial priorities.But there was a time when I was more particular about the food and medication brands I brought home. And so when I first joined Costco, I pretty much walked past any Kirkland products I saw on the shelves. I preferred to stick to the brands I knew and liked, even though they commonly cost more.But I changed my tune about Kirkland products several years back. And I’m glad I did, because it’s resulted in a lot of savings for me.The upside of buying Kirkland productsKirkland is Costco’s signature brand. It was introduced in 1995 and has expanded considerably through the years.These days, you can find the Kirkland label on everything from medications to pantry staples to baked goods. And you can commonly save money on the items you’re buying by choosing Kirkland over a brand name.When I first joined Costco, I wouldn’t have dreamed of buying Kirkland-labeled snacks or pills. I just had it in my head that sticking to the brands I was already familiar with was a better idea.But then I decided to give Kirkland a try due to the savings involved. And lo and behold, I found that the quality was just as good.These days, I regularly load up on Kirkland items. It’s not even a question. And as a result, my Costco bills tend to be lower.Case in point: Buying Advil in bulk at Costco online will cost you $0.07 per pill (note that store prices can differ from those listed online). Buying Kirkland Signature Ibuprofen online will result in a cost of just $0.01 per pill.This is just one example. But the Kirkland version of whatever you’re buying will often be cheaper than the fancy brand that spends money on marketing. So it could pay to at least give a few Kirkland items a try and see if they work for you.Granted, they may not always be the items you prefer. While I have no problem scooping up Kirkland products in general, I won’t stray from Bounty as my go-to paper towel brand. I’ve tried the Kirkland version, and to me, it’s just not as good.But that’s probably the only exception. So if you’re eager to slash your Costco bills, give Kirkland a go. The worst that’ll happen is you won’t love the product and you’ll know not to buy it the next time. And if you’re really dissatisfied, you can always take your purchase to customer service and ask for a refund.Costco is really good about issuing refunds in those situations provided you don’t take advantage by frequently returning purchases based on simply not liking them. So there’s really very little risk involved.

By: Maurie Backman |
Updated
Aug. 21, 2023– First published on Aug. 21, 2023

For many people, getting an Amazon Prime membership is an easy call. For $139 a year, you get access to perks like unlimited free two-day shipping on orders of any size and access to loads of streaming content, from music to movies to TV series.Depending on the area you live in, you can argue that a Prime membership can pay for itself by virtue of savings on gas alone. If you’d normally spend $5 in gas to go back and forth from your closest big-box store, placing about 28 orders on Amazon per year allows you to break even on your $139 outlay. So if you commonly place three orders a month, you’re getting your money’s worth right there.Meanwhile, Amazon is introducing yet another perk for Prime members that movie and TV fans in particular are apt to be thrilled with. So if you’ve been wondering whether your Prime membership makes sense to retain, you’ll want to consider this latest offering.How do exclusive screenings sound to you?Although the main draw of an Amazon Prime membership is often the free two-day shipping, for some people, the streaming content is a really nice perk. Amazon is taking that benefit a big step further by introducing Prime Premiere.It’s a program that gives Prime members access to early in-person screenings of movies and TV series. Prime Premiere also includes access to photo opportunities at screening events, concessions, and special giveaways.For each Prime Premiere event, members are allowed one entry. Event tickets are given out on a first come, first served basis. And because of this, it’s unclear as to how easy or difficult tickets will be to snag. It’s also worth noting that Prime Premiere events will only take place in select cities.If you’re psyched about this new benefit, you should know that the next Prime Premiere event is set to take place in early September. And we can expect details on future events to be announced as the program rolls out.Should you join Amazon Prime?While the Prime Premiere program sounds cool in its own right, the reality is that you may not want to bear the cost of a membership for that perk alone. It’s hard to determine how easy or difficult it will be to snag tickets to early TV series and movie screenings. And it would be a shame to have to bear a $139 annual credit card charge for an option you don’t end up getting to take advantage of.However, if the idea of free two-day shipping appeals to you, and you’re convinced it can help you save money by virtue of getting to make fewer trips to the store, then a Prime membership may be worth it. Plus, you do get the benefit of free streaming content included, among other perks.If you’re on the fence about a Prime membership, sign up for a free 30-day trial and see how it goes. You can always cancel after a month if you feel that Prime ultimately won’t be worth paying for.

By: Emma Newbery |
Updated
Aug. 22, 2023– First published on Aug. 22, 2023

Items in dollar stores rarely cost $1 anymore, but that hasn’t stopped people from flocking to these discount meccas. As Americans continue to grapple with high living costs — particularly when it comes to food shopping — sales at the likes of Dollar Tree, Dollar General, and Family Dollar are booming.Whether you’re a recent convert or an old hand at dollar store shopping, here are some little-known tricks that could help you save even more. Every extra dollar in your bank account is a dollar you can spend on meeting other financial goals.1. You can use cash back appsCash back apps work in different ways, but a number of them will work in dollar stores. This is especially true for those that allow you to scan your receipts after you’ve been to the store. These apps let you earn money or points on your shopping and often also have bonus offers on specific products. Pay attention to the product sizes, as dollar store products may not fit the offer requirements.Dollar General recently announced it had teamed up with Ibotta to create a new DG Cash Back Program. Sign up online or download the app to get extra savings and special deals when you shop at Dollar General.2. You can use coupons…sometimesWatch out for store-specific coupons as these can be a great way to snag the best bargains. Most dollar stores also accept manufacturer and other coupons, though there may be restrictions about how you can use them. For example, the Krazy Coupon Lady says you have to print online coupons to use them at Dollar General.Check the fine print. As with cash back apps, the different-sized packaging in dollar stores can mean some coupons aren’t valid. For example, if a coupon is only valid for a 52-fluid-ounce bottle of juice, you won’t be able to redeem it on other sizes. You may also find there are limits on how many coupons you can use on any one day.3. You don’t have to do all your shopping thereDollar stores are not always the cheapest option, especially not if you can bulk buy. The trick is to combine your dollar store shopping with regular stores and know where to get the best value for the things you buy frequently. Work out the cost per ounce and use your cellphone to check prices, even when you’re in the store. Every home is different, so try to find a system that works for you.For example, I go once a month to a high-end grocery store to buy cheese, tea, and a couple of other items I can’t get anywhere else. I buy cleaning products, snacks, spices, household items, and office supplies at a nearby dollar store. Fresh produce is usually better quality and better value from the fruit and vegetable shop. And I get most of my other groceries online. That way I can find the lowest prices without trailing around too many stores.4. You can snag bigger savings on sale daysWatch out for clearance days at your local dollar store. For example, Dollar General has regular clearance sales where you can save as much as 50% or more. Watch out for sale alerts online. It’s also worth signing up to your favorite dollar store’s membership club so you’re the first to hear about events and discounts. Dollar Tree has a Value Seekers Club and Dollar General has myDG.5. You can use your SNAP food benefits in dollar storesSNAP food benefits are designed to help low-income families access nutritious food. The benefits are usually paid onto an EBT card, which can then be used in stores — including dollar stores — to pay for certain items. Wherever you shop, there are restrictions on what you can buy using SNAP dollars. For example, you can’t use your food benefits to buy hot food, pet food, cleaning supplies, or pharmacy items.6. You’re never far from a dollar storeIt’s fair to say that dollar stores have multiplied like rabbits in recent years. One report from the Institute for Local Self Reliance found that nearly half the new stores that opened in the U.S. in 2021 were dollar stores. And, 75% of Americans live within five miles of a Dollar General, according to its website. That makes it easier to combine a dollar store stop with the rest of your grocery shopping.A word of cautionThere are many ways to save money by shopping in dollar stores, but don’t get too carried away. Items in dollar stores are not always cheaper, especially if you look at the price per ounce. It’s also important to check sell-by dates and make sure the packaging isn’t damaged. All the same, if you can incorporate dollar store shopping into your grocery habits and you may well find your monthly grocery budget will stretch a little further.