Pumpkin Spice Lattes Are Back at Dunkin’

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: Maurie Backman |
Updated
Aug. 13, 2023– First published on Aug. 13, 2023

Money you have socked away to cover emergency expenses should sit in a savings account. That way, you have easy access to it at all times.But if you have money you don’t need for emergencies, you might consider putting it into a certificate of deposit, or CD. The upside of going this route is that you’ll commonly snag a higher interest rate on your money compared to a regular savings account. And the interest rate you sign up with is guaranteed throughout the term of your CD (whereas the rate on your savings account could fall at any time).Plus, as long as you limit yourself to a $250,000 deposit and your bank is FDIC insured, your principal CD deposit is safe. So if you put $10,000 into a CD and your bank fails, you’re guaranteed not to lose a dime of that $10,000.But while CDs might seem like a risk-free endeavor based on all of this, the reality is that they can be more risky than you’d think. Here’s why.You could end up getting hit with a penaltyWhen you open a CD, you’re committing to keeping your money there for a preset period. So if you cash out your CD early, you should expect your bank to impose a penalty.Now, the extent of that penalty will hinge on where you bank and the duration of your CD. At Capital One, for example, CDs with a term of 12 months or less impose a penalty equal to three months of interest for cashing out early. Your bank might have a different policy, and it’s always a good idea to ask about penalties before opening a CD.You can minimize the risk of facing a penalty by laddering your CDs rather than putting all of your extra cash into a single one. In the case of a $10,000 deposit, dividing it into four and opening 12-month CDs in the amount of $2,500 each at three-month intervals will have portions of your money freeing up regularly. But even then, you risk an early cash-out penalty if your financial circumstances change and you need that money immediately.You could lose out on growthThe nice thing about CDs is that you don’t risk losing out on principal the same way you do by investing your money. But instead, you face another risk — not meeting your financial goals in the long run due to limiting your money’s growth.Over the past 50 years, the stock market’s average return, as measured by the S&P 500 index, is 10%. If you put $10,000 into CDs over the next 20 years that pay you 5% interest (which is feasible today but a high rate historically), you’ll end up with about $26,500. Invest that money in stocks over 20 years at a 10% return instead, and you’ll be looking at a little more than $67,000. That’s a huge difference.CDs are generally considered to be a risk-free option for parking your cash. But be mindful of these pitfalls before you commit to one.

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. 6, 2023– First published on Aug. 6, 2023

If you’re trying to keep your credit card bills down, buying something for a penny may seem like a dream scenario. After all, what could be friendlier to your bank account than purchasing an item you want or need that costs only a cent?In today’s day and age, it may seem impossible to find anything to purchase so cheaply, but that’s not necessarily the case. In fact, it may be possible to find penny items at Dollar General.That’s because the store has a system in which items that are supposed to be removed from stock are priced at $0.01. If employees do not remove these items from the shelves before the price adjustment happens, they’ll ring up for only a penny.So, how can you find these items? Here are the steps you’ll need to take.1. Go shopping on the correct dayItems are marked down to a penny only when it’s determined that they need to be removed from stock. Typically, this markdown process happens on a Tuesday, so if you want to be able to buy one of these deeply discounted products, you’ll want to go shopping then.Since others may also be on the lookout for the penny products, it can help to go early in the morning before all of the items you might want are bought up.2. Check the penny lists onlinePenny items are not advertised, since they are not really supposed to be for sale at that price. This means you can’t just consult the Dollar General sales flyer to see what’s on discount. You also shouldn’t ask cashiers, as they not only won’t help you find the items but instead are more likely to remove them from the shelves before you can purchase them.Since these products are like hidden gems, you’ll want a guide to discovering them — and there are a few lists online that can help you do that. The Krazy Coupon lady publishes a weekly list of penny items. You can also join Facebook groups dedicated to finding them.Since penny items change regularly, you’ll want to check out these resources every week to see what’s on discount.3. Load up your cartWhen you are lucky enough to find a penny list item on the shelves, you should bring up as many of the items as you want to purchase.As soon as you have alerted the store to the fact the items were left on the shelf, they will be pulled so you won’t have a chance to get any more of them. If they ring up for a higher price, you can just say you changed your mind.4. Get lucky with your cashierFinally, you need to hope that the cashier you have ringing up your items allows you to actually buy them. Official store policy is that they should not be purchased, so you may well be told you can’t actually get the item for a penny and may have to put the item back.While there’s an element of luck involved in both finding the penny items and being able to buy them, it may be worth the effort to try if there’s something on the penny list you are excited about purchasing — or if you happen to be at Dollar General anyway.