Discover the Jaw-Dropping Amount You Can Earn with Just $20K in a High-Yield Savings Account – Mind-Blowing Returns Await!

By: Natasha Etzel |
Updated
Aug. 9, 2023– First published on Aug. 9, 2023

That’s $2,461.81 earned in five years, assuming the APY doesn’t change. It’s worth mentioning that APYs can and do change, so your APY likely won’t stay the same rate forever.Do this to boost your bank account balanceYou’re likely missing out on interest if you don’t have a high-yield savings account. If you have a significant amount of money saved up or are working on a big savings goal, you may want to open a high-yield savings account to maximize the interest you earn. Every bit of money earned from interest adds up and can help to improve your personal finances.

By: Natasha Etzel |
Updated
Aug. 12, 2023– First published on Aug. 12, 2023

Many people keep their money in their bank accounts. You likely have a checking account for your everyday money needs, and a savings account, where you stash your extra savings. But you may have another form of currency that you’re forgetting about and not putting to use.I’m talking about gift cards. When was the last time you checked to see if you have any unused gift cards? A recent study found that Americans collectively have $23 billion of unused gift cards. If you have gift cards taking up space in your wallet, now is an excellent time to put them to use.It’s easy to forget about gift cardsYou’ve likely received at least one gift card in the last year. But did you remember to use it? Many people quickly forget about the gift cards that they’ve received. According to a Bankrate study, 47% of U.S. adults have at least one unused gift card, gift voucher, or store credit.The value of unused gift cards nationwide is $23 billion. The average value is $187 per person. That’s a lot of money! It turns out that high earners are more likely to have gift cards they have yet to use. But those earning $100,000 or more per year and those earning less than $50,000 per year tend to have the highest average value in unused gift cards.The same study found that about two in five people have been trying to use gift cards more frequently over the past year due to economic concerns. As living costs continue to rise, it’s no surprise that people are looking for ways to make their everyday bills and purchases less costly. Gift cards are one tool that can save you money when making purchases — another tool is coupon apps.When you forget about gift cards, you waste money. If you forget to use your gift cards for a long time, they may even lose their value. You could use a gift card instead of swiping your credit card for a purchase. Doing this can help you keep more money in your checking account.Don’t let gift cards go to wasteBased on the findings of the study, you’re not alone if you have a collection of unused gift cards sitting around. But let this article remind you to check your wallet, car, and home for gift cards. If you have a gift card that needs to be used, check the remaining balance and verify whether it has an expiration date. Then, make a plan to spend the money on the card.Here’s what you need to know about expiration dates and fees: Federal regulations require a gift card to be valid for at least five years from the date of purchase or from the last date additional money was loaded onto the card. What’s more, inactivity fees can only be charged if a card hasn’t been used for at least one year, and such fees can only be charged once per month.Your best bet is to use your gift cards as soon as possible so the money doesn’t go to waste. If you struggle to remember to use them, consider picking one organized place to stash them. You may be able to purchase household essentials, new clothes, or dinner for your family by using some of the gift cards in your collection.Yes — life is expensive, but there are always options to save money. Gift cards are one tool that can help you save money on everyday expenses. Check out our personal finance resources for additional ways to keep more money in your pocket.

By: Christy Bieber |
Updated
Aug. 2, 2023– First published on Aug. 1, 2023

Costco is a great warehouse club. You can get amazing deals that help keep more money in your bank account while allowing you to bring home products that have a passionate following. You can also enjoy free samples of tasty treats in the store, or dine on a $1.50 hot-dog-and-soda combo at the food court.But, while there are benefits to a Costco visit, there are certain situations where you absolutely are better off steering clear of the club. Here are three signs you should avoid shopping at Costco at all costs.1. You’re buying wants instead of needsIf you regularly end up with items in your Costco cart that you want but don’t really need, you should probably steer clear of the store.It’s tempting to give into impulse buying — especially when the products you are purchasing seem like a good deal because you’re getting them at a warehouse club. But, even if an item is on sale or priced great, it is not a deal if you don’t really need it. It’s a waste of money.There’s no reason to put yourself in the path of temptation if you find it hard to resist. Especially since the whole point of shopping at Costco is to save you money by scoring bargains with your membership, not to leave you with a huge credit card bill because you just can’t say no to its tasty treats or unique household items.You can avoid a Costco visit by shopping online for the things you really need, using grocery pickup, or simply shopping somewhere else where you aren’t as likely to find tempting products you don’t need.2. You aren’t using up all of the items you’re purchasingCostco provides customers with the chance to save by selling bulk items. But, if you buy something that is too large a portion for you to actually use, you end up wasting a ton of money by throwing a good amount of the product in the trash.If you can’t use an 18-pack of Ritz crackers before they get stale or a 10-pound case of Mahi Mahi before it goes bad, then avoid shopping at Costco and stick to a store with more manageable proportions.3. You’re going into credit card debt to shop thereFinally, if you find yourself with a big credit card balance because of your Costco shopping, you should stop going to the store cold turkey. With the average credit card interest rate at 20.68% as of July 10, 2023, carrying a balance on your credit cards is really expensive. The added interest you pay will negate any savings you get from buying at Costco instead of other stores.Ultimately, if you cannot shop responsibly at Costco by sticking to your budget and using all of the items you buy, then a membership may do you more harm than good. If this is your situation, avoid visiting the warehouse club at all costs and stick to stores where you don’t have as much potential to derail your financial goals.

If you’re looking to trim fat from your budget, shopping at dollar stores may be a good place to start. The days when everything at a dollar store actually cost $1 are gone, but you can still score steep discounts.You probably won’t be able to replace supermarket shopping entirely with your local dollar store, as dollar stores tend to have sparse selections of fresh groceries, particularly produce. But you can easily shave money from your grocery total if you buy these five things at the dollar store instead of the supermarket.1. Baking mixesDollar stores usually have a wide selection of mixes for baked goods like cake, muffins, and brownies. They’re often priced around $1 and tend to have a long shelf life, so you can stock up on a variety of flavors and keep them in your pantry.When you need a last-minute treat for a birthday party, bake sale, or potluck, you can quickly whip up a batch of goodies.2. Spices and seasoningsSpices and seasonings are notoriously expensive, so stocking up on the basics like oregano, chili powder, basil, and thyme at the dollar store is a good way to save money on groceries.One thing to keep in mind, though: Many shoppers report that the per-ounce prices on spices at discount grocery stores like Aldi or Walmart are actually cheaper, as dollar store products often come in smaller containers. But if you’re looking to stock your pantry with the basics, the dollar store can be a good starting point.3. Frozen fruits and vegetablesFrozen fruits and vegetables maintain almost all the health benefits of fresh produce — and research shows that they may contain even more vitamins and nutrients than their pricier counterparts. While the dollar store usually isn’t a good place to find fresh fruits and veggies, it often has a decent selection of frozen produce.One popular option is Dollar Tree’s Smoothie Starters, which contain a mix of fruits and veggies — like strawberries, bananas, kiwis, and spinach — that you can easily blend into a smoothie.4. Food storage itemsWhether you’re meal prepping or trying to make the most of leftovers, having a solid set of food storage items can help you stop wasting money. Dollar stores often have a good selection of name-brand storage items, including plastic containers, jars, and food storage bins.The best part: Dollar store containers are up to a third cheaper than you’d find at your regular supermarket, which is great news for your personal finances.5. CandyIf you have a sweet tooth, you don’t want to miss the candy aisle at the dollar store. Many dollar stores carry name-brand candies for way cheaper than grocery stores. Many families report that they like to hit the dollar store to buy candy before going to the movies or before a road trip. Dollar store candy can also be a good option for stocking stuffers or party favors.However, if you’re buying a large amount of candy — say for Halloween or Easter — you’ll often get a better deal at a warehouse club, like Costco.How to save money at the dollar storeWhile everything is priced at a few bucks or less at the dollar store, that doesn’t necessarily mean the prices are a bargain. Here are a few tips for saving money at the dollar store.Compare per-ounce prices. Dollar stores may be more expensive than grocery stores when you compare items on a per-ounce basis, since the sizes are often smaller. That may be fine for items that you don’t use often or if you’re a one-person household, but you may be better off shopping at a warehouse club or discount grocer if you have a large household.Check expiration dates. Because dollar stores have lower staffing levels than major supermarkets, there are fewer employees checking expiration dates. Be extra vigilant about checking sell-by dates at dollar stores, as you’ll waste money if you load up on items that are about to go bad.Avoid impulse buying. Dollar stores are a good place to stock up on pantry staples, but they may also tempt you to add a bunch of unnecessary items to your cart, like candles, cheap decorations, and toys for kids. There’s nothing wrong with the occasional splurge, but if saving money is the goal, make a shopping list and stick to it.Whether you’re shopping at a dollar store or a regular grocery store, consider taking advantage of credit card perks by using a grocery credit card or a rewards credit card that earns cash back or travel points. Combining your savings at the dollar store with credit card rewards could give a big boost to your bottom line, provided that you pay the balance in full each month.

By: Christy Bieber |
Updated
Aug. 4, 2023– First published on Aug. 4, 2023

Dollar Tree has a much bigger selection of products than you might imagine. And what’s great is that while these items are bank-account friendly, they don’t necessarily look “cheap”. In fact, you can pick up many great items for your home that will enhance your decor without leaving you with a big credit card bill.If you’re not sure where to start, check out these five awesome items that no one would guess cost just $1.1. Holiday decorationsDollar Tree offers holiday decorations for every season. Whether it’s Easter, Christmas, Valentine’s Day, or even the Fourth of July, you can find holiday gear at Dollar Tree.With Halloween on the horizon as the next major holiday, Dollar Tree already has some great offerings, including a Plastic Lighted Witch Cauldron with Fog, a three-tiered pumpkin decoration, and a large plastic spider that looks much more attractive than it sounds.If you enjoy being festive, you can easily afford to get a whole bunch of different holiday decorations at Dollar Tree so you’ll be able to celebrate every occasion.2. Plates and glassesDishware can be expensive, even from discount stores like Sam’s Club, where you’ll usually pay around $40 or more for a 16-piece set of plates. That comes out to $2.50 apiece at a minimum.At Dollar Tree, you can get really nice sets for $1.25 per piece. Cutting the price in half really makes a difference, especially if you need a service for 12 and are buying 48 pieces total. At Sam’s Club, that would cost you about $120 compared to $60 at Dollar Tree.Dollar Tree has ceramic, stoneware, and melamine plates, so no matter what your preferred dish material is, you should be able to find it. There are also both plain and patterned plates to match every style.3. Picture framesDollar Tree has a good selection of picture frames in all sizes, as well as in a variety of colors and styles. And, again, you’ll pay only $1.25 for them.Dollar Tree’s products also look nice and are comparable to higher-priced items. For example, while ten 4×6 black frames from Dollar Tree would cost you $12.50, you’d pay $18.99 for almost identical ones from Amazon.4. VasesVases can be used for flowers, but can also be used for a wide variety of different household accents. For example, you could fill a frame with wine corks for the kitchen or with colorful bath salts for the bathroom.At Dollar Tree, you can get a great selection of both clear and colored vases. These come in all different sizes and styles, including neat little metal bucket vases with rope accents that are for sale on Amazon for $14.99 for a two-pack.5. CandlesFinally, you can get wax candles and battery-operated flickering candles from Dollar Tree. This includes scented candles. While you could pay as much as $31 for a scented candle from big-names like Yankee Candle, Dollar Tree candles look and smell just as nice. And, since you’re just going to burn them and throw them away, there’s little reason to make a huge financial investment in your candles.If you want to make your home look nice while saving money on your home decor, be sure to give all of these items a close look.