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Yahoo
7 days ago
- Business
- Yahoo
The Best $75 (or Less) You Can Spend That Will Pay for Itself in a Month
Spending money to save money might sound like a contradiction, but when done strategically, it can actually work in your favor. Whether you're trying to lower your bills, save time on daily tasks or cut back on wasteful spending, a small upfront investment can deliver quick returns. Read Next: Check Out: So if you have $75 (or even a little less) to put to good use, here are some of the smartest ways to spend it. Each one could likely pay for itself in about a month (sometimes even less), making it a savvy move for your wallet. Also see seven purchases that may change your life, according to Rachel Cruze. Buying in bulk at warehouse clubs like Costco or Sam's Club can significantly reduce the cost of essentials from toilet paper and laundry detergent to pantry staples and meat. On top of groceries, you can also score deals on prescription medications, travel packages, car rentals and even insurance. According to CNET, a Costco membership can save $1,000 a year in groceries. Add in discounted gas, and your membership could pay off quickly. Costco's Gold Star Membership costs $65 a year, while Sam's Club's base-level membership costs just $50 a year. Explore More: Meal kits like HelloFresh, EveryPlate, Blue Apron and Dinnerly offer heavily discounted intro rates for new users, often up to 50% off your first few boxes. Subscribers receive pre-portioned ingredients and recipes that make weeknight dinners easier, reduce food waste and limit the need for expensive last-minute takeout. If your family has been ordering takeout for two to three nights per week, you can likely save money on your food costs by considering one of these meal kit dinners services. Plus, you can save time planning meals and shopping. Most of these plans allow you to skip weeks or make adjustments to your order anytime, so you can also manage how much you spend overall. According to Bon Appétit, HelloFresh costs an average of $9.99 per serving, plus shipping fees, while Dinnerly comes in slightly lower at an average of $7.99. Investing in durable, reusable household items can save money in the long run. Think water filter pitchers (like Brita or ZeroWater), silicone food bags, beeswax wraps or a quality reusable coffee cup. These products replace single-use items you'd otherwise need to buy every month. If you stop buying bottled water and use a filter instead, you could save on buying pricey plastic water bottles. Replacing plastic bags and foil for lunches or leftovers? That's more savings. Good Housekeeping ranked the Brita water filter pitcher as the best overall. It costs $55 on Amazon. Cooking at home can save hundreds per month, but the key is convenience. A good set of meal prep containers, a slow cooker or even an air fryer can help you plan ahead, reduce food waste and avoid costly takeout when you're busy. Slow cookers are great for batch-cooking soups, stews and proteins, and they work while you're busy living life. Even replacing just two takeout meals per week with home-cooked options can save $40 to $80 month — or more. That's not even counting the leftover meals you can freeze or refrigerate. Kohl's is selling a Gourmia air fryer on sale right now for just $75.99. Or if you want to go the slow cooker route, Target has a 6-quart Crock-Pot for $74.99. A simple tool kit with a hammer, pliers, a screwdriver set, measuring tape and a level can empower you to handle basic repairs and upgrades yourself. You can watch free tutorials on YouTube or TikTok to learn simple DIY techniques for home maintenance. Hiring a handyperson for a one-hour fix can cost an average of $50 to $150, per Angi. If you tackle even one small job yourself, whether it's hanging curtains, fixing cabinet doors or patching holes in drywall, you'll already have saved more than what you likely spent on the tools. A Husky homeowners tool set at Home Depot costs just $74.97, which would likely pay for itself after just one repair. Saving money doesn't always mean cutting things out. Sometimes, it means spending smart. Choose one or two of these ideas to try, and watch how fast that small investment pays off. Editor's note: Pricing and availability may vary depending on location. More From GOBankingRates 10 Unreliable SUVs To Stay Away From Buying 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on The Best $75 (or Less) You Can Spend That Will Pay for Itself in a Month
Yahoo
31-05-2025
- Business
- Yahoo
5 Money Challenges Wealthy Parents Face, According to Rachel Cruze
If you're not wealthy, it's hard to feel bad for wealthy people. You may even experience a spell of schadenfreude — or joy at their misfortunes — but not much in terms of compassion. But problems are problems, and rich people have them just as those belonging to the middle class and under do. And this includes money problems. We see this profoundly in the realm of parenting as wealthy parents face some unique financial challenges with their kids. Find Out: Read Next: Financial expert Rachel Cruze recently tackled this issue in a YouTube video. What are these challenges and how do you address them in order to raise financially responsible and resilient kids? In a household where all your needs are fully met and then some, it can be easy for kids to take everything for granted and not experience gratitude. 'This heart of gratitude, of being present where you are, is such a model of your character,' Cruze said. 'Teaching our kids that — to be grateful — even like, making them say 'thank you' and understanding where things are coming from, and the fact that not everyone has what you have.' It's up to parents to exemplify gratitude and to encourage their kids to reflect on their good fortune. Learn More: Wealthy parents may not need their kids to do things around the house. Perhaps they themselves don't need to do things around the house to a great extent and can turn to housekeepers and nannies to keep things in order. Cruze believes that kids must be tasked with contributing to the home at a young age. 'There's something that happens when your kids have a level of responsibility — and it can be something small, like just keeping their room clean,' Cruze said. 'When they complete tasks, around the home, there is a level of confidence that actually gets put into your kids.' If money isn't a concern at all, your kids probably have more toys, more extracurricular activities and more opportunities than kids in homes where money is tight. They probably hear 'yes' a lot more frequently than they hear 'no.' Parents, as Cruze sees it, need to bring some discipline to the home by telling their kids 'no' in certain situations. 'When you have the ability to say no and to stand your ground, get the repercussions of the tantrum or whatever the thing is, it is so key, because our kids have to learn boundaries,' Cruze said. 'The idea that money is just limitless is not an option.' Most of us in today's digitally addicted society could benefit from a refresher on patience. And parents need to be teaching their kids that gratification isn't always an instant thing. We need to model patience by not succumbing to impulse buys, just as we need to discourage our kids from getting whatever they want when they want it. 'Having the patience to save up and pay for something is huge,' Cruze said. 'This is true as adults, but your kids should do the same. Have them have a goal of something that they're saving up for.' Cruze added that in her home, they do no-spend months. This is a great exercise for parents trying to raise financially responsible and savvy kids. Who wants to sit in disappointment? Not a grownup and certainly not a kid. But sitting in disappointment and accepting, without a fight, that you are not getting what you want, whatever that may be, or that you have failed, is crucial because disappointment is a part of real life. Kids who are, for lack of a better word, spoiled, may not have a lot of opportunity to sit with disappointment because their parents are so quick to clean up every mess and spare their kids from painful consequences. 'A lot of parents are 'snowplow' parents, meaning they go through and pave the way so there's no bumps, no grooves, no 'oh gosh, am I going to fall down?'' Cruze said. 'It's like this perfect slope for your kids to go down with no issues.' Life is not a perfect slope, even if you never have to worry about making money or building wealth. Ensure that your kids understand — and personally experience — this reality, otherwise they'll grow up without knowing how to get back up from a fall, financial or otherwise. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on 5 Money Challenges Wealthy Parents Face, According to Rachel Cruze Sign in to access your portfolio
Yahoo
23-05-2025
- Business
- Yahoo
Rachel Cruze: Will Your Habits Make You Broke, Average or Wealthy?
According to a recent Gallup poll, 55% of Americans reported that their finances were poor or fair, and 53% felt that their finances were worsening in 2025. Whether you're struggling to pay your bills, handle debt or save more for retirement, it's worth looking closely at your usual money habits. You might find that spending or borrowing decisions are stealing your money and keeping you from becoming wealthy. Be Aware: Find Out: In a YouTube video, financial expert and author Rachel Cruze outlined money habits that can make you broke, average or wealthy. Learn what you should avoid to become financially healthier. Cruze discussed payday loans, which tend to target desperate people in lower-income locations. Using these loans can get you in a cycle of being broke due to their high interest rates, which Cruze said can exceed 100%, and their short payback terms. Buying lottery tickets is another habit that steals money people could've used for something with a more likely return, like investing in retirement, saving for emergencies or getting rid of debt. 'The odds of anyone winning the lottery is 1 in 300 million, and what this does is it takes advantages of people's hope,' Cruze said. Cash advances, which are convenient but expensive, are another thing that could harm finances. For example, credit card advance fees can be $10 or more, according to the Consumer Financial Protection Bureau, and then there's the interest. Cruze recommended not borrowing against future income. Additionally, rent-to-own arrangements, which are common for those who need to make major purchases, such as home appliances or furniture, can cause financial harm. Cruze explained that the fees involved make it much more expensive than waiting to buy until you have the cash. Read Next: Cruze mentioned that average people might charge things on their credit cards to earn airline miles. But this often leads to overspending, which helps the creditors profit and makes the rewards less worth it. Cruze said that buying the ticket yourself would save money. Financing new cars is another habit that can keep you from becoming wealthy, with Experian reporting an average new car loan balance of $41,572 in the last quarter of 2024. Cruze said the depreciation and interest make buying and financing these cars unwise and cautioned it could become a cycle. Homeowners also remain financially average when they use home equity lines of credit (HELOCs) to get money out of their home's equity. Cruze said this just increases the debt owed, and that comes with more stress and interest. Plus, HELOCs are secured, so losing your home is possible. The last average money habit is falling for 'buy now, pay later' plans, which increase your debt and may push you into unaffordable or unnecessary purchases. 'When you spend your money and buy an item outright, you're going to think differently about that purchase versus if it's spread out and it doesn't hurt as bad,' Cruze said. Besides stopping the poor and average habits mentioned, you can maximize your money and have more financial peace if you adopt some of these habits, according to Cruze. First, aim to live below rather than within your means. That means budgeting your money so that there's some left for savings and investing goals after all your expenses. Cruze also recommended living more like a stealth millionaire by opting for a good used car, such as a Toyota or Honda. You'll pay much less than if you buy new, especially if you use cash to avoid the costly financing trap. Paying your mortgage off early is another way to save on interest and build wealth sooner. For example, if you had a 30-year $250,000 mortgage with a 7% annual percentage rate and paid $500 extra each month, you'd cut your repayment time to around 16 years and save about $182,000 in interest. Cruze also suggested contributing 15% of your earnings toward investing in your future. She referenced the Ramsey Solutions National Study of Millionaires, which found that 80% of millionaires used company 401(k) accounts to successfully build wealth. And when you do have wealth, Cruze recommended being a generous giver to boost your joy. More From GOBankingRates 10 Unreliable SUVs To Stay Away From Buying Sources Gallup, 'Americans' Economic, Financial Expectations Sink in April.' Rachel Cruze, 'Are Your Habits Broke, Average or Wealthy?' Consumer Financial Protection Bureau, 'Data Spotlight: Credit card cash advance fees spike after legalization of sports gambling.' Experian, 'Auto Loan Rates and Financing for 2025.' Ramsey Solutions, 'The National Study of Millionaires.' This article originally appeared on Rachel Cruze: Will Your Habits Make You Broke, Average or Wealthy?
Yahoo
20-05-2025
- Business
- Yahoo
Tariffs Aren't Making Groceries Cheaper — Here Are 10 Ways You Can
Tariffs and inflation seem to be increasing prices at the grocery store, despite the claims and promises made by President Trump that Americans will be 'affording their groceries very soon.' With the tariffs the United States is imposing on imports, not only are food costs still rising, but so are the costs of many other goods thanks to supply chain issues and higher rates at the borders of Canada and Mexico. Read Next: For You: Unfortunately, it may not be possible for prices to go down to what they were in Trump's first administration. In fact, it may be up to you, the consumer, to lower the amount you spend on groceries. Curious how to do it? Ramsey Solutions recently gave several suggestions to make your groceries cheaper — and these ten are the best of the bunch. Often, people view dinner as a large, complicated meal. Rachel Cruze of Ramsay Solutions suggested redefining dinner as a far simpler meal. Think soup, grilled cheese or even breakfast for dinner in the form of scrambled eggs and fruit. When you stop spending on gigantic final meals for the day, you can save some money and maybe even start a healthier diet. In this case, it's about not focusing on quantity but rather the high quality of your next meal. Buying in bulk can save you money on groceries, as items in bulk are usually greatly discounted. Remember, when it comes to personal finance, make sure to buy smart and stick to non-perishables for your bulk buys. This trip to the store might be a more expensive credit card swipe in the store, but it will definitely save you money in the long run. Find out when your local store deploys their daily or weekly deals, rather than shopping when it's most convenient, timewise, for you. Whether you prefer Trader Joe's, Costco, Walmart or just your smaller neighborhood mom-and-pop grocer, there will often be times or days when you can find better discounts. You can also experiment with getting out of your routine and try other grocery stores to see where you can save the most. You might discover that your favorite local grocer overprices their produce or doesn't have sales as good as their competitors. Feel free to become a savvy shopper and see how other stores are pricing. When you're hungry, everything looks good — even the expensive stuff. Never shop on an empty stomach, as it will just lead to an empty wallet. Want to discontinue impulse shopping? Order curbside pickup to keep yourself from wandering the aisle and getting tempted. One of the best ways to stick to your budget is to stick to your grocery list, which has only the items on it that you need for your meal planning. Farmers' markets are not usually cheaper than grocery stores — except at the end of the day. Typically, vendors don't want to bring their food items home at the end of the day and will cut prices just before closing. You're likely to score some deep savings just before they wrap up. Consumer Reports has noted that most store brands are equal to name brands in both quality and taste and are still 20-25% cheaper. Just because you discover a deal, that doesn't mean you should spend on it — if something isn't on your grocery list, even if it's a good deal, don't bother. Spending too much on produce? Have a nice backyard? Consider developing your green thumb and making your own garden. Caitlyn Moorhead contributed to the reporting for this article. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money These 10 Used Cars Will Last Longer Than an Average New Vehicle Sources Ramsey Solutions, How to Save Money on Groceries Consumer Reports, Store-Brand vs. Name-Brand Taste-Off This article originally appeared on Tariffs Aren't Making Groceries Cheaper — Here Are 10 Ways You Can
Yahoo
19-05-2025
- Automotive
- Yahoo
3 Reasons Rachel Cruze Says To Buy Used Cars
When it comes to shopping for a car, we're all faced with the decision to buy new or used. While there are compelling arguments to purchase new, like upgraded features, full warranty coverage and less maintenance problems, finance guru Rachel Cruze doesn't recommend it. In a recent Facebook post Cruze wrote, 'Is It a Good Idea to Finance a Car? Nope, it's not a good idea. In fact, it's a horrible idea.' These days, the average new car price tag is nearly $50,000, per Kelley Blue Book, while a used car is more budget-friendly at around $25,000. It's pretty clear it's more cost-effective to buy used, but that's not the only reason Cruze noted for avoiding the latest make and models. Read Next: Check Out: Here are three reasons Cruze said to buy used. According to Cruze, buying a new car is a terrible investment where you lose money. 'If I told you that I had an investment and if you put your money in you would lose 60% of it in five years, would you do it?' she asked in the post. 'Probably not, right? 'Cause you're smart.' She went on to explain that cars lose value 'quickly' and that a new vehicle loses 9% of the value as soon as it's driven out of the dealership. After the first year, a new car loses around 20% of its value, while a used car will lose only a small percentage during that time period, per LendingTree. Explore More: Another argument against new cars, per Cruze, is that it's harder to invest and grow your money with a big monthly payment. 'Listen, we get wanting to have a nice car (or even just a reliable car). But when you do the math, you'll see that financing a car isn't worth it. Not only does a monthly car payment rob you of your ability to build wealth, it also steals your peace,' she said. She explained that a large car payment is money you can't save or invest for the future. However, one thing to note is interest rates, which are much cheaper for new auto loans. According to Experian, a shopper with a super prime score of 781 or above can qualify for an interest rate of 4.77% for a new car, while the rate on a used car would be 7.67% for the same score. While the interest rate is lower, the monthly payment is higher. In 2024, the average payment every month for a new car was $742 versus $525 a month for a used car loan. The final point Cruze made in her video is that a car shouldn't be about impressing people. It's a necessary mode of transportation that should be affordable and reliable. 'Your identity and who you are is not wrapped up in the car you drive even though that's what it feels like,' she said. She explained while it may seem like the world is judging you based on what type of car you have, that isn't true. 'Your Honda Civic is fantastic,' she said. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth 5 Little-Known Ways to Make Summer Travel More Affordable 25 Places To Buy a Home If You Want It To Gain Value Sources Rachel Cruze, Facebook post Kelley Blue Book, 'New Car Prices Started to Inch up in April.' Kelley Blue Book, 'Average Used Car Price Starts to Rise.' LendingTree, 'Car Depreciation: How Much is My Car Worth?' Experian, Auto Loan Rates and Financing for 2025 This article originally appeared on 3 Reasons Rachel Cruze Says To Buy Used Cars Sign in to access your portfolio
