The year is almost over, and you’re no doubt rushing to wrap up holiday shopping, get ready to travel or meet a final work deadline.
The last thing you need is another item on your to-do list, but a little bit of financial reflection and planning is essential before the calendar turns to 2023.
Making these end-of-year money moves will help you handle whatever comes your way next year.
6 Money Moves to Make Before the End of the Year
1. Set Your Financial Goals for the Coming Year
When you think ahead to the end of 2023, what would make you feel accomplished? What if you cut your credit card debt by half? What if you were able to boost your savings account to four — or even five — figures? Or build up that emergency fund you may have had to dip into this year?
Think about what you want to celebrate at the end of 2022, and then set some goals to help you get there.
For instance, “become financially secure” isn’t a SMART goal because it’s ambiguous.
On the other hand, “save $5,000 in my emergency fund by the end of 2023” would be considered SMART because it’s specific, measurable and timely.
By thinking through your financial goals in this way, you’ll have more clarity about what you’re trying to do, and that will give you a better sense of how to allocate your resources and energy in the year to come.
2. Review Your Spending Over the Past Year (and Be Honest About It)
We know this isn’t going to be fun. In fact, it’s probably going to be pretty tedious.
Here’s a shortcut: If you use your bank or credit card app, you likely have access to graphs that show how much of your income went to specific spending categories, like food, entertainment and household expenses.
However, you can reconcile your spending without digital tools.
Why is this so important? It’s how to find out where you’re actually spending your money. You might think you don’t have a single penny to spare and that’s why tumbleweeds are rolling through your savings account, but tracking your expenses can reveal a different reality, one where you’ve actually spent quite a bit of money on, say, scented candles rescued from the clearance end caps at Target.
If you’re having trouble achieving your financial goals and can’t figure out why, knowing exactly where your money goes is the first step to bringing your actions in line with your goals.
Once you’ve tracked your expenses, you’re ready to move on to the next step.
3. Make a Budget That Works — Finally
Listen, we know a lot of people don’t bother with a budget.
But you really, really do need a budget. This post outlines five good reasons you should have a budget, including finally breaking the paycheck-to-paycheck cycle and identifying where you’re overspending.
Accounts that aren’t yours. It’s possible you have accounts on your credit report that actually belong to someone with a similar name. Do you, Karen Smith, really want to have the overdue Dillards’ charge card belonging to Karen Smythe on your credit report?
Accounts you didn’t realize were delinquent. Maybe your dentist’s office repeatedly sent the bill to the wrong address until the unpaid bill wound up in collections, leaving a giant black mark on your credit report, and you weren’t aware of any of this until your application for a car loan or mortgage was turned down.
Outdated or incorrect information about your accounts. Perhaps you paid off a loan last year that’s still showing up as unpaid, or your credit card balance is listed as being much higher than it’s ever been. These could significantly ding your credit score, and those three little numbers hold a lot of power over your ability to access credit in the future.
All of these errors can be disputed by contacting the appropriate credit bureau. Here’s how to do it.
5. Make a Plan for Retirement and Stick to It
We don’t have to tell you that a lot of people have not saved up much for retirement.
Instead of becoming yet another statistic, why not make 2023 the year you finally take retirement seriously?
But if you’re years aways from retirement, you should decide which kind of retirement account you want to set up. If your employer offers a 401(k), make sure you’ve signed up for it. And if your employer offers a 401(k) match, contribute at least enough to take full advantage of it. After all, that match is part of your compensation. You’re entitled to it!
If you don’t have access to a 401(k), you’ve still got options, including IRAs and Roth IRAs. This post can help you when trying to decide among them.
Once you’ve got your retirement account set up, contribute to it on a regular basis. It doesn’t matter if you can only put in $25 a month — it all adds up.
6. Celebrate Your Wins!
While we’ve been talking about how to do better going forward, we also know you probably accomplished some things to be proud of in 2022.
Take a few minutes to think about what you’ve done in the past year that you’re proud of, and let it sink in.
And now remember that feeling throughout the coming year, especially when you encounter setbacks (because you inevitably will). Trust that if you stick to your plan, you’ll experience that sense of satisfaction again this time next year.
Molly Moorhead is managing editor at The Penny Hoarder. Deputy editor Tiffany Wendeln Connors updated this post.
Inflation is hitting everyone where it hurts — our wallets.
The cost of everyday essentials like food and gas is eroding away the buying power of everyday Americans. Paychecks don’t stretch as far. Grocery bills hurt more.
It can feel impossible to get ahead.
Money saving tricks, both big and small, can make a difference.
If you’re looking to add some breathing room to your budget — despite 40-year high inflation — our 33 top money saving hacks can help.
Groceries
1. Ask What Day Your Grocery Store Marks Down Items
Grocery stores usually discount items that are close to expiring on a specific day of the week. Asking a store associate what day and time they mark down items is a super savvy way to score discounted meats, bread and veggies.
2. Skip Grocery Delivery and Go With Pickup Instead
Grocery delivery is incredibly convenient — and expensive. Tips and fees on an Instacart order can easily add $20 to $30 to your grocery bill.
If you’re trying to break the grocery delivery price trap, try pickup instead.
Opting for grocery curbside pickup is a much cheaper alternative that’s still fast and easy. It’s also a smart way to stick to your grocery list because you won’t be tempted to buy random extras in the store.
It’s also often easier to find the cheapest price per unit if you can see all available products on a single page instead of scouring the shelves.
Lots of stores offer free or very cheap pickup options, including BJ’s Wholesale Club, Aldi, Kroger, Target, Albertsons and Walmart.
3. Buy Frozen and Canned Vegetables and Fruits
Frozen and canned goods last longer, have similar nutritional value as fresh produce and cost much less.
“Buying things like broccoli, carrots, peas and cauliflower frozen or canned is the best way to get a longer shelf life and reduce food waste,” said Jessica Ayala, a full-time banquet chef in Orlando, Florida. “Be honest about the fresh foods you’ll actually eat in a reasonable amount of time.”
4. Buy Meat on Sale in Bulk and Freeze It
Pricey cuts have penny pinchers across the country ditching meat. Going meatless a day or two a week and turning to cheaper alternatives, like beans and lentils, can be a great way to cut costs.
If you aren’t quite ready to give up your carnivorous ways, look for larger sizes of meat (think 3 pounds or more of ground beef, family packs of chicken breasts) to go on sale.
Buy a couple packages at a time, break them down into 1-pound packages and freeze them.
Here are some other inflation hacks to save money on meat at the grocery store.
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5. Meal Prep (Seriously, At Least a Little)
Meal prepping doesn’t need to be labor intensive and scary. Here’s how to start meal prepping so you’ll actually stick with it. And if you need more inspiration, check out these hacks for budget meal planning.
6. Watch for Holiday Sales
Keep an eye out for holiday deals — like when canned beans go on sale for Cinco de Mayo or BBQ sauces during Fourth of July.
Load up on discount candy the day after holidays like Valentine’s Day, Easter and Halloween.
While you’re at it, check out this month-by-month guide on the best time to buy almost everything, like computers in August and swimsuits in September.
7. Avoid Drinking Your Money
Drink water instead of buying soda or juice. Nix the bottled water and go with filtered water or tap instead. Make coffee at home instead of grabbing Starbucks.
Make an alcohol budget and stick to it — or ditch the booze entirely if you want to save big bucks.
8. Buy (Certain Things) in Bulk at Warehouse Clubs
Buying everyday essentials in bulk is a solid way to save money. Just make sure to shop smart if you’re buying in bulk.
While it can be tough to fork out membership fees to warehouse clubs like Costco and Sam’s Club, some offer specials that allow you to join at a lower price. Check Groupon and other coupon sites to score a cheaper annual membership.
You can also try online bulk suppliers like Boxed, which delivers orders to your door without charging annual membership fees.
9. Shop Seasonally
The best way to save money on fresh produce is to buy fruits and vegetables when they’re in season.
Serve dinner in smaller portions on smaller plates. It makes you more aware of what you’re eating and less likely to throw away scraps of uneaten food. It’s also better for your waistline.
11. Check High and Low on the Grocery Shelves
Next time you go to the grocery store, check the top and bottom shelves. Grocery stores know that most people only look at the middle area, so that’s where more expensive items tend to be.
12. Check the Cost Per Unit Price
Each item at the grocery store has a corresponding tag on the shelf. In the top left or right corner, you’ll find the “cost per unit price.” This is the best way to truly compare prices, especially when buying in bulk.
13. Check Out Local Food Pantries
Asking for help can be hard, but food pantries provide a legitimate way to get food for free. If you’ve experienced a job loss or change in income, it makes sense to contact your local food pantry to see what’s available instead of going hungry or taking on debt.
You can also call United Way’s 211 service to find other local resources.
14. Freeze Your Bread
Bread will get moldy, like surprisingly moldy in no time during the summer.
“Kitchens and restaurants use this trick everyday to reduce food waste and save money,” Ayala said.
From hot dog buns to whole multigrain loafs, you can prolong the shelf life of bread by as much as four to six months by freezing it.
Another great bread hack?
“Crush up stale crusty bread, add some seasoning and make your own bread crumbs you can cook with later,” Ayala suggested.
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15. Embrace That Crock-Pot Life
If you’re trying to feed a family, cooking in bulk with a slow cooker can save you tons of money and time.
Making big batches of soup — and freezing some for later — is also a good way to utilize things in your kitchen before they go bad. (Remember: Try to extend the shelf life of everything in your kitchen.)
16. Purchase Versatile Ingredients
For example, pick a protein like chicken and learn to prepare it in a way you like. One day you can pair the chicken with a salad, the next day add it to a rice and beans (or quinoa) bowl, and the next day chop the chicken into strips and add it to a cheese quesadilla.
Another option is steak and potatoes one night, steak fajitas another night and a steak and bean rice bowl another.
An easy breakfast staple, like oatmeal, can cost less than 10 cents a serving and you can change up the toppings.
Or for an even leaner budget, skip breakfast altogether if it works for your health and diet. You may even see some health benefits, according to intermittent fasting research.
18. Reorganize Your Fridge and Freezer
The average American household wastes about 31.9% of its food — a whopping $1,866 per household per year, according to a 2020 study published in the American Journal of Agricultural Economics.
We’ve all been guilty of it. Leftovers get shoved to the back of the fridge, veggies get gross in the crisper. We get it.
Going through your fridge — and pantry and freezer — is a great way to take inventory, so you’re not buying duplicates or letting good food go to waste.
While you’re at it, watch some videos on YouTube from professional organizers who offer low-cost ways to rearrange your fridge so food is more visible and accessible.
Explore public transportation options in your area and plan out errands with your partner.
And remember: Ditching your car isn’t a forever commitment. You can pocket the savings for a couple years, then reevaluate your budget in the future.
23. Cancel Your Car Insurance
Here’s the thing: your current car insurance company is probably overcharging you. But don’t waste your time hopping around to different insurance companies looking for a better deal.
The truth is airline tickets are much more expensive than they were in 2020, and prices aren’t likely to come down anytime soon.
Certain budget airlines are still offering decent deals if you’re flexible on your schedule and destination — just keep an eye out for hefty baggage fees and other costs.
If you’re catching a flight, save money at the airport by bringing an empty water bottle and packing some snacks. You can also rent out your car using apps like Turo and TravelCar to make some money while you’re away.
25. Start Walking and Biking
Using an e-bike is a super frugal — and healthy — way to save money on your daily commute, especially if you’re replacing a car.
Plus there are a surprising number of apps, like A Healthy Wage and Sweatcoin, that will pay you to exercise — a win win.
Shopping
26. Check Out Cash-Back and Rebate Apps
There’s lots of cash-back and rebate apps out there that can add some jingle to your budget. Many reward you for scanning your receipts while others deposit cash back to your account when you make a purchase at a participating store with a linked card.
There are also browser extensions like Capital One Shopping and coupon sites that can help you save money on everyday purchases.
27. Cut Back on Pet Expenses
You love your pet like family. But if your furbabies are draining your wallet, it’s time to cut back.
Here at The Penny Hoarder, we admire a frugal spirit. And when times are tough, finding smart ways to repurpose everyday household items just makes sense.
Like using Windex to clean your makeup brushes or vinegar to clean your dishwasher — genius-level inflation hacks right there.
29. Threaten To Break Up With Your Phone, Internet, Cable and Insurance Providers
Sometimes they’ll give you a lower rate to keep you as a customer. Try asking for the retention department when you call.
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Entertainment
30. Be Smart About Your Streaming Services
Multiple streaming services can almost cost as much as a cable TV subscription.
To minimize the bite, take advantage of free trials and free TV apps.
Another smart way to save? Ask friends or family if they want to share streaming accounts. Set up profiles under a shared account and then Venmo or Cash App your friend an agreed upon amount each month for sharing.
31. Cancel Subscriptions and Non-Essential Memberships
Monthly subscriptions and memberships add up quickly. Five bucks here, $8 dollars there. Before you know it, you’re spending $80 on random subscriptions you may not really use.
Trying to cut costs fast? There are apps that help you manage your subscriptions — and some even help you cancel a subscription or negotiate better pricing.
32. See If You Qualify for Discounts Through This Federal Program
Millions of Americans now qualify for discounted internet access thanks to an expanded federal program called the Affordable Connectivity Program (ACP).
Qualifying households get a $30 monthly voucher toward their high-speed internet bill and a one-time $100 voucher to purchase a laptop or desktop computer.
Some internet providers are also offering discounted plans in collaboration with the ACP, which can help stack savings on savings.
There’s a couple ways to qualify. If you already receive Medicaid, a Federal Pell Grant (for the current award year), SNAP benefits, WIC, a veterans’ pension or survivors benefits — or one of these six other programs — then you qualify.
The other way to qualify is by your income: A single-person household can’t earn more than $27,180 a year (hello, college students and retirees), while a family of four can’t exceed $55,500 a year. It’s 200% of the federal poverty line.
The cost of dinner and drinks is a real mood killer these days.
No one likes the idea of staying home after being cooped up for two years, but when times are tough, it makes sense to explore cheap date night ideas. (Playing sexy MadLibs with a bottle of cheap wine could be surprisingly entertaining).
Finally, it can be hard, but don’t let inflation kill your holiday fun. In fact, here’s 29 free things to do during the holidays that will get your mind off your money — at least for a little bit.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.
Twinkling lights and glittering displays, gift giving and cookie exchanges, hot cocoa and holiday movies, festive feasts and delicious eats — it’s the most wonderful time of the year.
But, it’s also the most expensive time of the year. Between buying gifts for loved ones, traveling to see family, attending various holiday functions, the last thing we want to spend extra money on is the Christmas Roast. While we adore seeing friends and celebrating the season, the combination of more holiday gatherings and higher grocery prices this winter can be a big stressor.
That’s why we’re here to help with your holiday dinner. Want to impress your guests within a budget? We’ve got recipes for five inexpensive cuts of meat that will not only wow your family and friends, but save you money this holiday season.
Inexpensive Cuts of Meat for Your Holiday Meals
Beef Brisket and Chuck Roast
Although many people feel that they need to pull out all the stops with expensive beef dishes like short ribs or beef tenderloin, others can be just as flavorful for a fraction of the price.
Among our list of inexpensive cuts of meat: Brisket and chuck roast.
According to the US Department of Agriculture, the average price of chuck roast is $6.73 per pound, while short ribs come in around $10.50 per pound for much less meat. Brisket is significantly cheaper than buying a beef tenderloin, with the former costing $6.61 per pound on average and the latter ranging anywhere from $15-30 per pound.
Brisket is the breast of the cow, while chuck comes from the shoulder. Both are made up of more muscle fibers and connective tissues than the back half of the cow, making them tougher cuts of meat — and therefore cheaper.
But, just like your toughest in-laws at the holidays, these cuts just need a little extra time and care to yield the best results.
Chuck roast is the perfect vessel for seasonal flavors like winter berries, hard herbs and citrus. Get your guests in the holiday spirit with Half Baked Harvest’s Cranberry Pot Roast or this Pomegranate Braised Pot Roast from Food52. For something more classic, make this Beef Bourguignon recipe from The Food Network.
The best part? All three go perfectly with warm, buttery potatoes and a big glass of red wine.
Want to save more money at your holiday dinner? Check out these cheap red wines that are perfect for special occasions.
Ground Beef
Ground beef at the holidays? Yes, you can!
Although many think of this cheap meat ($4.84 per pound on average) as a weeknight staple, a little extra work can transform humble ground beef into the star of the show. This Shepherd’s Pie recipe from AllRecipes is a classic way to wrap cozy, holiday favorites in one, delicious package. Want to make it extra festive? Decorate the mashed potato topper with a rosemary wreath or tree.
Or take a page from Italy.
Italians have been using ground beef in show stopping pasta and rice bakes such as Timballo and Sartu di Riso for years. While both dishes involve extra steps and careful assembly, your family and friends will be thrilled and impressed by the special presentation and international flare.
Pork Shoulder or Pork Butt
Despite the different names, both pork shoulder and pork butt come from the shoulder of the pig, making them slightly tougher pieces of meat. But, like their beef shoulder counterparts above, roasting your pork shoulder low and slow will give you incredibly tender, impressive and delicious results. Pork shoulder and pork butt are extremely economical, averaging $3.64 per pound and can easily feed a crowd.
Try roasting your pork overnight like in this recipe from The Food Network to save both time and money. This Garlicky Roast Pork Shoulder from Food and Wine is flavorful and versatile for any occasion. Or infuse your pork with the mouthwatering holiday flavors of Bon Appétit’s Burnt Orange and Coriander Roast Pork. Even your critical great Aunt will be impressed.
Pro Tip
Stretch your pork shoulder or pork butt even further by using the leftovers for pork tacos the next day.
Chicken Legs and Thighs
While turkey and stuffed chicken breasts often take centerstage at the holidays, chicken legs and thighs are the perfect alternative. They are both significantly cheaper at $2.01 per pound on average and much easier to not overcook. No complaints about dry chicken this year!
Alison Roman’s Olive Oil Roasted Chicken with Caramelized Carrots is a one pot dinner that roasts the chicken low and slow until it falls off the bone. (Plus it provides a delicious, schmaltzy olive oil ready for bread sopping — yum!). These Cranberry Balsamic Chicken Thighs from Eating Well are a delicious and perfectly festive option that can easily be doubled for larger dinner parties. Want to try something a little more classic? Impress your guests with Coq au Vin using this recipe from Once Upon a Chef or the iconic Julia Child version from The Endless Meal. It can even be made up to two days ahead to save you more time.
So, skip the unnecessary expenses this holiday season and save on meat! Creating a memorable holiday meal for friends and family doesn’t need to break the bank.
Want more ways to save when meat shopping? Use these tips when you do your big trip to the store.
Contributor Michele Becker is a Boston based writer who specializes in food, as well as Italian travel and history.
Filling up your tank costs less than it did this time last year, but fuel prices remain stubbornly high in some states this holiday travel season.
The national average for a gallon of gas was $3.18 on Dec. 16, down about 14 cents from a year ago, according to data from AAA.
Lower gas prices are being fueled by a decline in worldwide energy demand, which is driving oil prices down.
“If this trend continues, many states could see their average prices fall below $3 a gallon by early next year,” said Andrew Gross, an AAA spokesperson.
Several states have already plunged below $3 on average, including Texas, Oklahoma, Arkansas and Missouri.
Cheaper gas is a welcome holiday gift after a roller coaster year of price flux. Gasoline prices were just over $5 a gallon at their peak in mid-June.
But lower prices aren’t universal. The cost of a gallon of gas remains high in several states.
Top 5 Cheapest States to Buy Gas
State
Average Gas Price
Texas
$2.65
Oklahoma
$2.69
Arkansas
$2.73
Missouri
$2.75
Mississippi
$2.78
Top 5 Most Expensive States to Buy Gas
State
Average Gas Price
Hawaii
$5.12
California
$4.42
Nevada
$4.13
Washington
$3.99
Oregon
$3.88
Lower Gas Prices Are Great News If You’re Hitting the Road
Cheaper gas is a welcomed early Christmas present for the nearly 102 million Americans expected to drive to their holiday destinations this season.
Taking a road trip is less expensive than it was just a few months ago.
How much cheaper?
Let’s assume your car gets 25 miles per gallon.
It would have cost you an average of $38.40 to take a 200-mile trip around Fourth of July weekend, when gas prices were about $4.80 a gallon.
Now, that same 200-mile trip around the holidays would cost about $25.44 on average.
Justin Limbach, an engineer from central Nevada, is moving his family of four across the country the week between Christmas and New Year’s.
He says saving money on gas is one of his top priorities.
“We plan on finding Raley’s fuel stations so we can earn gas rewards points,” Limbach explained.
He’s also putting all the moving expenses — including gas — on a credit card that earns 1.5% cash back on all purchases.
“I took it out specifically for the move this month,” he said. “This way it’ll be interest free for 18 months, which gives us some time to pay it off.”
With more people on the roads this holiday season, experts are warning drivers to expect congestion and delays.
INRIX, a provider of transportation analytics and insights, expects the most congested days on the road to be Dec. 23, 27 and 28, as well as Jan. 2.
Nationwide, drivers could see travel times up to 25% longer, according to AAA.
To avoid delays, try to hit the road in the early morning or after evening commute times.
4 Ways to Save Money on Gas
Pain at the pump may be easing but there’s still plenty of ways to save money on gas during the holidays.
1. Use Apps to Find the Cheapest Gas
Gas prices might be trending lower, but if you’re planning a big trip, it’s important to know how to find the cheapest gas along your route.
Several websites and apps, like GasBuddy, show you the cheapest gasoline at nearby gas stations.
Remember: The price of gas can vary significantly across state lines. If you’re trying to save money, avoid getting gas at stations just off the highway or in the middle of a major city.
Stations in those locations tend to charge more than ones a little more out of the way.
2. Sign Up for Fuel Rewards Programs
Many gas station chains and grocery stores across the country offer discounts on fuel.
GasBuddy also offers its own fuel savings program called Pay with GasBuddy. Join for free, and you’ll save up to 25 cents per gallon when you fill up at most national gas station chains.
Upside is another free app that offers you cash back on each gallon of gas you buy at participating gas stations.
3. Use a Rewards Credit Card
When you fuel up, choose a credit card that pays you cash back or one that allows you to earn rewards points when you purchase gas.
4. Use Cruise Control — Sometimes
Cruise control can be a lifesaver on long road trips. Staying at a steady speed with cruise control has been shown to save on fuel usage, which saves money on gas.
But here’s a pro tip: When it’s hilly, you might get better mileage without cruise control. The system will tend to downshift too much and waste gas — and no one wants that.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.
With a powerful winter storm expected to bury half the country in snow, a bitterly cold Christmas season is in store for most of the United States.
As blasts of arctic air send temperatures plummeting, here’s something else that’ll send a shiver down your spine: Heating your home will be noticeably more expensive this winter.
In fact, Americans are seeing the largest spike in their heating bills in more than a decade. But we’ve got eight tips to help you lower your bill. With wicked cold temperatures breathing down our necks, we’ll list these tips from the simplest to the most complicated.
The average cost of heating a home this winter is expected to rise $177 to $1,202, a 17% increase compared with last winter, according to a recent report from the National Energy Assistance Directors Association (NEADA).
It’s the second winter in a row with significant price increases for heating, according to NEADA. The organization’s members are the state directors of the federal Low Income Home Energy Assistance Program, which helps poor households with energy costs.
Why the increase? Mainly it’s because hot temperatures over the summer sent the price of natural gas soaring to a 14-year high as Americans cranked up their air conditioners to beat the heat. NEADA says 90% of our heating and cooling costs are tied to the price of natural gas, either directly or because natural gas is used to create electricity.
What Can You Do About High Heating Bills?
In the short term, with freezing weather on our doorsteps, there are a few things you can do right now. If you’re a renter or you’re a homeowner on a budget, we have relatively cheap ways to cut back on your heating bill.
Over the long term, if you’re a homeowner, the best way to reduce your heating bills is to improve your insulation or even invest in better windows, although both of those plans cost money.
Here are some options to consider, in order from the simplest to the most complicated:
1. Close Off Unused Rooms
This is our simplest tip.
If you have a room that you use just for storage, exercise or guests, close the door and shut the vents in that room when it’s not in use. Otherwise, you’re just unnecessarily heating an unused space.
2. Block Out Drafts From Doors
The bottoms of exterior doors are a major culprit for heat loss in the winter. If you can see daylight creeping in from beneath your door or feel a cool breeze, you should take steps.
You can temporarily improve the situation by rolling up a towel and blocking the bottom of the door.
If you’re feeling more ambitious, try a draft guard. It’s basically two pool noodles in a pillow case. Adding a bit of rice or dried corn makes the guard heavier and a better sealer.
3. Stop Eating Out
Of course you can save money on meals by eating at home instead of dining out, but in the winter, baking and cooking can have the added benefit of reducing your heating bill.
When you cook in your oven and on the stovetop, heat emanates into your kitchen and surrounding rooms. Crack the oven open after turning it off to let the remaining heat filter out into your home.
4. Turn Down the Heat
An easy way to lower your heating bill in the winter is to run your heat at a lower temperature.
Obviously, you need to keep your place warm enough to prevent your pipes from freezing, but if you can stand the chill, turn down the thermostat to the low to mid-60s. Bundle up in sweatshirts, thick socks and blankets to stay warm — and don’t forget to cover up your pets, too.
5. Use a Space Heater
OK, so you’ve turned the heat down, closed off unused rooms and bundled up in blankets, but you’re still feeling chilly. A small space heater might do the trick — and you can get one for less than $30 on Amazon or at a home goods store.
Running a little bit of heat in one small area is more affordable than heating your entire living space.
6. Add Some Weather Stripping
Weather stripping for doors and windows is key to retaining heat in the winter (and keeping it out in the summer). If your windows and doors are letting too much heat out, replace the weather stripping.
It’s a minor cost (something you can buy for under 15 bucks), but it could save you big-time on heating bills.
7. Insulate Your Windows
Big, single-pane windows let the cold in, but you can find temporary ways to keep the heat from leaking out. You can do this by hanging thick curtains in front of the windows, but an even better solution (or a solution to combine with the curtains) is purchasing a window insulation film kit. You can get a kit to insulate 10 windows for about $25.
When incorrectly installed, your window will look like it’s been covered in shrink wrap.
8. Insulate Your Attic
Your attic could be allowing warm or cool air to escape, driving up your power bills. Look around your attic and basement for blackened insulation, which is a sign of air traveling through it.
Adding insulation to your attic can significantly lower your energy costs. So insulation can eventually pay for itself.
The Department of Energy’s website has in-depth instructions for how to insulate your home, although we’d recommend hiring a professional to do it.
Yes, heating your home is going to be more expensive this winter. But you’re not helpless to do something about it. A little strategic thinking and maybe a little elbow grease will help you cut your heating bill.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
From left, top to bottom: Apple AirTag, Nintendo Switch Lite, Apple iPad and an Amazfit Bip 3 Pro are gifts ranging from $50 to $500 that your tech-loving family and friends would surely appreciate this holiday season. Photo courtesy of Apple, Nintendo and Amazfit.
It’s the holiday season, and what better gift is there than a new gadget? From smartwatches to TV streaming devices, advancing technology has found new ways to entertain us and make life easier. After all, why vacuum the floor when a robot can do it for you?
We’ve scoured the web and tested a bunch of devices throughout the year. Here are some of our favorite tech gifts you can grab for anyone on your wish list. We’ve assembled gadgets for gift givers on a budget and more expensive options so you can splurge on that special someone.
Best Tech Gifts Under $50
The idea of buying tech gifts may seem expensive initially, but remember that as technology has evolved, it has become more accessible. Here are some of our favorite budget gift ideas when you don’t want to spend more than $50.
Have a friend or family member who keeps losing their keys, wallet or bag? If they are an Apple fan, pick them up an Apple AirTag to track their belongings.
Smart home devices, like the Echo Dot (3rd Gen) smart speaker, make it easy to set a timer, get weather updates and much more using the power of voice commands.
Upgrade your friends and family to a 4K compatible streaming option with the Amazon Fire TV Stick 4K — bam, it’s like being at the movies.
A perfect gift is peace of mind. Pick up the Blink video doorbell so your friends and family can keep an eye on their property and look out for porch pirates.
Best Tech Gifts Under $100
Step up to the plate and show you care with one of these excellent tech gifts under $100. Delivering a tech gift that your loved one can’t wait to open doesn’t have to cost hundreds of dollars with one of these great gift options.
Help your friend or family member track their fitness and receive helpful smartphone notifications on their wrist throughout the day with the Amazfit Bip 3 Pro smartwatch.
Many people work at computers all day, so why not spice up their keyboarding experience with the Logitech POP keyboard? It’s cute and fun to type on.
Need to grab someone a tablet for the holidays but don’t want to bust your budget? Try the Amazon Fire HD 8, which is ideal for consuming media or playing games.
Give the gift of vinyl to the music lover in your life with the Crosley T400D turntable. It’s even fitted with a proper Audio-Technica stylus for great sound quality.
Do your friends love to take photos on their smartphones? Consider gifting the Kodak Step mobile printer so they can print their favorite pictures on the go.
Best Tech Gifts Under $250
You’ve been putting money aside for the holiday season and want to pick out an incredible tech gift for that special person on your list. Here are some of our favorite gifts that start to move into the three-figure price range.
Upgrade your family or friend’s technology power and fashion sense simultaneously with the Apple Watch SE, the most affordable Apple Watch.
If you know someone who loves a good book, consider giving them a Kindle Paperwhite e-reader. Let them get lost in their imagination with this gift.
Music is the universal language, so show them you care with a powerful Bluetooth speaker with solid sound quality. The JBL Charge 5 portable speaker can even charge a smartphone thanks to its USB port and hours of battery life.
Robot vacuum cleaners don’t need to cost a fortune. The RoboVac 15C Max is one of our favorite budget options and helps make the house look spiffy.
Great for kids and adults alike, the Nintendo Switch Lite is a perfect gaming companion on the go, especially during long car rides and plane trips.
Best Tech Gifts Under $500
So, you’re pulling out all the stops for the holidays? We’ve covered you, from the season’s best gaming consoles to top-end tablets and headphones. Here are the best gifts when you don’t mind spending some cash.
Help your family member or friend step into the wild world of virtual reality gaming with Meta Quest 2. It includes the game Beat Saber at no cost for a limited time.
The hottest gaming console of the season is the Sony PlayStation 5. Check out our guide on how to find a PS5 before trying to snag one this holiday.
Let others listen to their favorite music and step back into a blissful world of quiet with Sony’s top-tier noise-canceling headphones, the WH-1000XM5.
If you want to pick up an iPad for your loved one or friend, the standard Apple iPad delivers a remarkable tablet experience and comes in several colors.
If a PC gamer is in your life, they are likely clamoring to get their hands on the Steam Deck. It enables them to take their favorite games on the go.
Michael Archambault is a senior writer at The Penny Hoarder specializing in technology.
In the spring, enticing financial aid letters from colleges will start arriving in high school seniors’ mailboxes. Unfortunately, most of them are misleading.
The letters offering financial aid packages are supposed to help families who are making major financial decisions. But the vast majority of them are hiding the true cost of college, according to a newly released government report.
Here’s how it works: If you get accepted to a college or university (or if one of your offspring gets accepted), that school will send you a letter spelling out what financial aid you’re eligible for — typically a mix of student loans, grants, scholarships and work-study arrangements.
This is supposed to help you and your family decide whether you can afford to go to that school. However, too many of these letters avoid saying how much you’d really be spending to go there, according to a report by the Government Accountability Office, a nonpartisan congressional agency that serves as the government’s primary watchdog.
“Most colleges are not following best practices for providing clear and standard information in their financial aid offers,” the GAO report said. “Colleges should estimate the net price — how much a student will pay to attend that college… but about 91% of colleges understate or don’t include the net price in their offers.”
So, what should you do with this information? We have some ideas.
What to Know About College Financial Aid Letters
Misleading financial aid letters have gotten students to enroll in schools they can’t afford, causing them to rack up unnecessary debt and sometimes even drop out of school.
Nearly a quarter of all colleges include no information whatsoever about costs in their financial aid offer letters. And even if a college tells you how much tuition and housing cost there, too often they’ll skip over the out-of-pocket costs of books, transportation and various personal expenses, the GAO said.
What should you do when you get one of these letters? What questions should you ask? Here are a few suggestions:
What’s missing? Train yourself to look for what information is missing from the letter. Now that you know how misleading they can be, look hard at what they’re not saying.
Track down what you need. You need all the information about costs if you want to make an apples-to-apples comparison between colleges. If you’re really interested in attending a particular school, try to hunt down the answers in the financial aid section of its website. Some aggressive Googling can help here, too.
Know the different kinds of aid. “Financial aid” is a term that includes grants and loans. Grants and scholarships are money that’s given to you — money you don’t have to repay — while student loans must be paid back.
Merit aid: If you’re offered “merit aid,” make sure you review the terms of the package, such as whether it renews every year, and weigh the amount of the aid against your total annual costs.
Need-based aid: If a school offers you need-based aid, be sure to check the fine print. There’s often more to this type of offer than meets the eye.
How does each financial aid offer work? Will the amount awarded stay constant all four years? What does the school really mean when it says you’ll be given a “full” award? Will your private scholarships affect the amount of aid the college is willing to give you?
Watch out for the “front-loading” of grants. According to the nonprofit financial aid guide Finaid, some colleges put more grants in the financial aid letters sent to potential incoming freshmen, with the balance between loans and grants shifting toward loans in later years. Ask if you can expect to receive a similar amount of grants later.
FAFSA: If all this talk of financial aid has got you stressing out about your FAFSA, here’s a guide to filling it out — along with why it’s super important. (Seriously — don’t skip out on FAFSA!)
Now that you know FAFSA is important, when is it due? Here’s everything you need to know about FAFSA deadlines.
These are all necessary considerations when reviewing your financial aid packages from the schools you applied to. Before you accept or commit to anything, it’s crucial to understand exactly what you’re being offered.
The letters typically appear in mailboxes and email inboxes every April. Now you’re prepared.
Mike Brassfield is a senior writer at The Penny Hoarder. Graze Schweizer manages social media and SMS at The Penny Hoarder.
As a difficult cold and flu season continues across the country, the Biden administration announced it will revive a program providing free at-home COVID-19 tests delivered through the U.S. Postal Service.
Due to limited funding and a depleted national stockpile, tests will be limited to a one-time order of four tests per household with shipping starting Dec. 19. This is part of a larger Winter Preparedness Plan by the Biden administration designed to combat rising rates of COVID-19. It includes expanded free testing options, as well as continued access to free treatments like Paxlovid and free vaccine clinics in communities throughout the U.S.
How to Get 4 More Free COVID Tests
The free over-the-counter rapid antigen tests the government is offering deliver results in 30 minutes. PCR tests aren’t available. Tests ship within seven to 12 days, according to covid.gov/tests, starting on Dec. 19, 2022.
Signing up for your free tests is incredibly simple. All you need to do is go to covid.gov/tests and provide your name and address, plus an email address if you want shipping notifications. And that’s it.
The U.S. Postal Service will deliver the tests. You can order four free tests for each residential address, no matter how many people live there.
What About the 8 Free Tests Insurers Have to Provide?
Health insurance companies are still required to pay for eight home tests per month for each person covered by the plan. Depending on your health insurance, you may need to pay out of pocket for the tests and submit a receipt for reimbursement.
You can access free tests for your household using the federal government’s website regardless of whether you have health insurance. The website doesn’t ask for insurance information, and no upfront payment is required.
What if I Can’t Wait for My Test?
If you can’t wait a week or two for your free tests and you have private insurance, you can pay for a home test and then get reimbursed for any upfront payment. Tests are now widely available at drugstores and pharmacies.
You can also access free and low-cost tests through a community testing center. To find a site, use HHS.gov’s testing center locator.
Pro Tip
It’s tempting to use remaining FSA or HSA funds to stockpile at-home COVID-19 tests, but FSA and HSA accounts specify funds can be used only for health-related expenses insurance doesn’t cover.
What if My COVID Tests Are Expired?
If you’ve got expired COVID tests stashed in the medicine cabinet from last season, don’t toss them in the trash yet. The Food and Drug Administration recently extended the expiration dates on many of the over-the-counter COVID-19 tests.
Check the FDA database to see if your tests are still OK to use.
Will Free At-Home COVID Tests Be Available Again Soon?
There’s no guarantee the program will resume even if COVID rates climb again in 2023. While the Centers for Disease Control and Prevention indicated it would like to continue the initiative this winter, Congress didn’t approve the funding. The limited additional funding to provide another round of tests this month is coming from the Biden administration’s 2021 American Rescue Plan.
Kaz Weida is a senior writer at The Penny Hoarder. Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
Here in America, apparently we’re having a big warehouse store hot dog showdown right now. Who knew this was coming?
In a wicked but kind of funny act of corporate trolling, Sam’s Club is slashing the price of its $1.50 hot dog combo by 12 cents to $1.38. That buys you a hot dog and a soda.
Big deal, you say?
Well, we say this is definitely Sam’s Club’s way of messing with its rival, Costco, which has its own longtime $1.50 hot dog combo special. And Costco is famously proud of its super-cheap hot dog and soda combo, which has cost the same since 1985.
Costco CEO W. Craig Jelinek once told a Chamber of Commerce crowd that keeping the price at $1.50 was a big deal — kind of a matter of life and death, actually.
“I came to (Costco co-founder Jim Sinegal) once and I said, ‘Jim, we can’t sell this hot dog for a buck-fifty. We are losing our rear ends.’ And he said, ‘If you raise the effing hot dog, I will kill you. Figure it out.’ ”
(Folks on Reddit promptly drew up T-shirt designs and logos with that “I will kill you” quote. Apparently it’s kind of iconic.)
Sam’s Club slashed the cost of their hot dog combo meal from $1.50 to $1.38. Photo courtesy of Sam’s Club
Now here comes Sam’s Club, stirring up trouble — unilaterally slashing the price of its $1.50 combo by an entire 12 cents, without asking for anyone’s permission or anything! Oh, those cheeky devils at Sam’s Club!
They even had the gall to put out a totally innocent-sounding news release, practically batting their eyelashes, saying, “Lowering the price by twelve cents on a member-favorite item is just another way to show we care about every penny (literally) they spend with us.”
Riiiiiiight. And also maybe stick it to Costco a little bit.
Sam’s Club and Costco are America’s two giant chains of membership-only retail warehouse clubs, and for decades they’ve offered up affordable hot dogs as a perk for members. Inflation hasn’t changed that strategy, despite the price of frankfurters going up 15% in only a year.
The hot dogs are considered a loss leader, a strategy designed to entice shoppers to stay in the store a little longer. So you stop for an inexpensive snack, and the more time you spend wandering around inside the humongous discount store, the higher the chances are that you’ll see something you want and make an impulse buy.
So, go ahead. Enjoy that $1.50 (or $1.38) hot dog and a soda. Tasty, isn’t it?
Just remember why it’s there.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
If you’ve had a sneaking suspicion that things you buy are getting smaller, you may be right.
Angel Soft toilet paper used to be 425 sheets per roll. Now it’s 320 sheets per roll.
A bag of Doritos used to be 9.75 ounces. It’s now 9.25 ounces.
Dial soap was 21 ounces, and now it’s down to 16 ounces.
Gatorade bottles were once 32 ounces, but are now 28 ounces.
Even Ben & Jerry’s recently reduced their pints of ice cream.
The size of the product has dropped, but the prices stayed the same — and even increased in some cases. What’s going on at our grocery stores?
Those are just a few of many, many examples of “shrinkflation” — a term coined to describe when companies reduce the size of a product but keep the price the same.
Though shrinkflation is more prevalent now with growing inflation, it’s actually been going on for years, according to ConsumerWorld.org founder, Edgar Dworsky who’s been following shrinkflation since 1995.
Chris Zuppa/The Penny Hoarder
Shrinkflation can be so subtle that you don’t notice it. So how can you spot shrinkflation at the store and make sure you’re getting the most out of what you buy?
6 Ways to Beat Shrinkflation
Beating shrinkflation starts by simply being a savvy shopper. You’ll need to pay more attention while shopping and be willing to change up your habits. Here are some ways to do just that:
1. Buy the Store Brand
Don’t hate on store brands. They’re cheaper, often just as good and sometimes even better than name brands.
When it comes to shrinkflation, store brands also have another advantage: They’re usually the last brands to reduce size.
Shrinkflation experts like Dworsky say to look to store brands, or even other name brands, if you notice your favorite brand has started to shrink its product’s size.
2. Compare the Price Per Ounce
This is called unit pricing. You simply divide the total price by the quantity to determine the unit price.
For example, if a carton of soup is 12 ounces and costs $2.40, the unit price on the soup would be 20 cents per ounce. This hack isn’t just for groceries though. Look at the price per ounce or per item for toothpaste, baby wipes, razor blades and many other consumer goods you buy.
Most stores include the unit price next to the total price on the tagged shelves below the items.
Unit pricing is required to be disclosed in many states, while many retailers still choose to disclose it even when it isn’t mandatory.
3. Buy in Bulk
Buying in bulk from retailers like Costco and Sam’s Club not only helps you save money, but it will also help you reduce the amount of shrinkflation you experience.
In many cases, goods bought in bulk are a better deal because they typically have a lower price per unit. Let’s say a single apple costs 75 cents at the grocery store, and a three-pound bag at Costco containing six apples costs $3. You’ll save 25 cents per apple by purchasing in bulk.
This is especially true with dried goods, which last much longer. The more of these types of products you already have on hand, the less you’ll need to buy from the grocery store — potentially avoiding the back-and-forth waves of shrinkflation.
Inflation has even affected discount stores like the Dollar Tree, Family Dollar and Dollar General. Not everything costs a dollar anymore, as some items have been raised to $1.25 or $1.50.
That said, you can still find a lot of good products, including pantry essentials, for an amazingly low price. From pasta and eggs to cereal, chips and snacks — all for a dollar-ish.
There are deals to be found at other places too. Drugstore rewards programs and plentiful coupons can drop the price of your shampoo or granola bars to little or nothing.
5. Shop Online
Shopping online is more of a timesaver when it comes to shrinkflation than anything else.
You can compare prices and unit pricing quickly without wandering the grocery store and struggling to read the fine print on a price tag. You can also quickly compare prices between stores — or even just other sellers — and brands to see where your dollar will go further.
Then, even if you choose to visit the store in person, you should have a good idea about how it handles shrinkflation.
6. Take Advantage of Discount Apps
Stores like Target and Walmart have apps with an extensive collection of digital coupons to help you save.
Make a shopping list, and possibly a meal plan, then browse through these apps to find which coupons are available for the goods you need. Other apps like Upside and ibotta help you get cash back rewards at many grocery stores.
Robert Bruce is a senior writer for The Penny Hoarder.
Women are more conscientious about joining their employer’s 401(k) plans. Fewer men than women join unless there’s automatic enrollment. The biggest difference is in the $50,000 to $75,000 income range, where 81% of women keep 401(k) accounts compared with only 67% of men.
Weirdly, however, men tend to have more retirement savings than women. The average man has $93,500 in his 401(k) account, the average woman $70,000.
How can that be? It’s because men tend to earn more money and because men set aside more of their paychecks for retirement than women do.
So, how can women close the gap in retirement savings? We have seven strategies for you to follow.
What Women Are Up Against
Like we said, life isn’t fair. Here are three reasons why women’s retirement savings tend to lag behind men’s:
Working women are more likely than men to interrupt their careers to take care of family members, according to the U.S. Department of Labor. They end up with a work gap, missing potentially years of employment when they could have been contributing toward their retirement.
Women are more likely to work in part-time jobs that don’t qualify for a retirement plan, the Labor Department says.
Here are seven strategies women can use to save more for retirement.
1. Get Started, Pronto
If you aren’t saving for retirement, start ASAP. The earlier you start, the better off you’ll be, with your money growing over time thanks to the magic of compound interest.
If you are saving (good for you!), take a few minutes to check your progress. Are you saving enough for your anticipated needs?
2. Save Enough to Get Your Company Match
Financial advisers recommend that, at the very least, you save enough in your 401(k) to get the full employer match that’s being offered to you. If you’re not doing that, you’re basically passing up free money.
One of the best things about a 401(k) plan is that many employers will match your contribution up to a point. It’s part of your compensation package.
Say your employer offers to match 100% of your 401(k) contributions up to 6% of your income. If you make $50,000 per year and max out the employer match, you’d put in $3,000 and your employer would kick in another $3,000, doubling your savings.
3. Try Saving Even More
Once you’ve done that, see if you can go beyond the employer match. Lots of people do.
If you’re reading this and suddenly finding that you’re contributing a below-average amount to your retirement plan, you should strongly consider kicking it up a notch if you can.
Not sure how to start? The U.S. Treasury offers the myRA account, which you can think of as a starter retirement account before upgrading to a Roth IRA.
There are also investing apps that will give you free stocks to get started. Robinhood, for example, will give you free stock worth between $2.50 and $200 just for downloading its free app and funding your account.
5. Avoid Dipping Into Your Retirement Savings
Experts strongly recommend that you not dip into your retirement savings before you retire. You’ll pay heavy financial penalties, and you could put a serious dent in your retirement plans down the line.
6. Prepare to Work As Long As You Can
Another strategy for women: Prepare yourself for the likelihood that retirement may not happen until you’re well past 65.
Maintain your ability to continue working past age 65. Keep your job skills up to date or learn new ones. Many employers, community colleges and nonprofits offer classes in the latest technologies and careers.
By taking care of your career, you’ll have a better chance of staying comfortable and secure when it’s finally time to retire.
7. Wait to Take Social Security If You Can
When your 62nd birthday approaches, you’ll have a big decision to make: Should you take Social Security at 62 and accept lower benefits? Or should you delay Social Security to get a higher benefit amount?
The answer to whether taking Social Security at 62 is the right move for you depends on several factors: your life expectancy, whether you’re retiring early and your overall financial situation. By taking Social Security at 62 instead of at full retirement age, you’ll reduce your monthly benefit by 30% for life.
However, if you’re feeling relatively healthy and you wait until you’re 70 to start claiming your Social Security benefits, you’ll end up getting checks that are nearly 80% larger.
In Case of Divorce
If you get divorced, are you entitled to a portion of your spouse’s retirement benefit?
Possibly. In most private-sector retirement plans, you would do this via a qualified domestic relations order (QDRO) issued by the court, according to the U.S. Department of Labor. You or your attorney should consult your spouse’s plan administrator to determine what requirements that order would have to meet.
You may be able to take Social Security based on your ex-spouse’s benefits instead of your own, even if you divorced decades ago. However, people with a long employment record will typically qualify for a bigger benefit based on their own earnings instead of a spouse’s. Social Security will give you the bigger benefit, but not both.
The maximum benefit you can get based on the record of a spouse — whether you’re currently married or divorced — is 50% of their full retirement age benefit. Full retirement age is the age at which you qualify for 100% of your benefit. It’s 66 or 67, depending on when you were born.
It’s important to know these things.
Life isn’t always fair, so you’ve got to look out for yourself.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
The perfect holiday gift doesn’t have to be something you buy from the store, cover in wrapping paper and place under the tree.
Giving friends and family members an experience gift is just as wonderful — and it’ll create memories that last far beyond the holiday season.
Gifting experiences like concert tickets, a trip to a theme park or an overseas vacation, however, can get pricy. This list of affordable experience gifts will give you ideas for everyone on your Christmas list without having to spend a ton of money.
38 Experience Gifts That Won’t Break Your Budget
Move beyond material presents with these affordable experience gift ideas.
1. DIY Spa Treatment
Recreate a spa day experience at home using ingredients you already have on hand. Make a moisturizing face mask with yogurt, honey or oatmeal. Or create a sugar scrub to exfoliate the feet. Really sell the DIY spa experience by lighting candles, putting on some calming music and serving cucumber water.
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2. Cook a Gourmet Meal
Take the burden of cooking dinner off your loved one’s plate for the day. Offer to whip up their favorite meal — or the best dish you make. Make it a truly remarkable dinner by adding an appetizer and dessert. Or set it up as a cooking class, and teach them to make your signature dish.
3. Plan a Picnic
Luxury picnics are pretty trendy now, but you can create your own on a budget. Pack a sampling of your gift recipient’s favorite foods, bring a bubbly beverage and use blankets and pillows you have at home. Choose a location with nice scenery or a place that holds special meaning to your loved one.
4. Make a Charcuterie Board
A charcuterie board is a great gift to bring to your co-worker’s annual Christmas party — or really for anyone who appreciates a nice spread of fancy cheese and meat. This article will show you how to make a nice charcuterie board for under $30.
5. Wine Tasting
Buy a few affordable bottles of wine and invite your friends over for a wine tasting. Share information about each beverage and why you selected it. Serve appetizers or snacks that pair nicely with the wine.
6. Gift a Special Recipe
Share your favorite recipe with a loved one. Bonus points if you give them all the ingredients needed to make the dish.
7. Teach a Skill
Time to tap into your talents and share what you know. If you can play the guitar, decorate cakes, take amazing photos — or whatever your area of expertise is — offer to give free lessons to your loved ones.
8. Teach a Language
DIY your own Rosetta Stone classes. If you’re fluent in another language, offer to teach basic vocabulary words and phrases as a free introductory language class.
9. Clean Their House
Help your friend or family member rid their home of the holiday clutter by offering free house cleaning services. Help them take down all the holiday decor in addition to mopping, vacuuming and dusting.
10. Yard Service
Pitch in to boost the curb appeal of your loved one’s home. Offer to rake leaves, shovel snow, mow the lawn or trim hedges. Your hard work is sure to be appreciated!
11. Beauty Session
If you’ve picked up some styling skills over the past couple years, put them to good use. Offer to give your friend a manicure, style their hair or do their makeup before attending a holiday party.
12. Room Makeover
Play interior designer and offer to renovate or refresh a room in your friend or family member’s house. Check out these tips for how to upgrade a kitchen or bathroom on a budget.
13. Free Babysitting
Give the busy moms and dads in your life a little break by offering to watch their kids. You could give them a coupon book so they can redeem the free babysitting whenever they need. Or set up an arrangement where you take the kids off their hands on a scheduled basis — like every Saturday morning for the next four weeks.
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14. Themed Movie Marathon
Whether your friend is into action flicks, ‘80s rom coms or foreign films, curate a short list of movies in their favorite genre and invite them over for a special screening. Don’t forget the popcorn and soda.
15. Day Trip
Gift a travel experience that doesn’t require plane tickets or a hotel stay. Plan a trip to a nearby city less than a day’s drive away. Research notable landmarks to visit and inexpensive things to do while you’re there.
16. Camping Trip
Camping can be a nice low-budget trip — if you do it right. Depending on where you live in the country, this gift might be one your recipient won’t redeem until the weather’s more conducive to sleeping outdoors.
17. National Parks Pass
Gift outdoor lovers with free entry year round to any of the national parks. An annual National Park pass is $80 — or $20 for those age 62 and up.
18. Free Photo Shoot
If you take nice photos, offer to give a free photography session to a friend or family member. Maybe they could use professional headshots for work or perhaps their last family photo is seriously outdated. Send them digital copies from the photo shoot plus print out a couple favorites they can frame.
19. Score Cheap Tickets to a Local Attraction
Offer to take your loved one to a museum, indoor skydiving, an escape room or another local attraction as an experience gift. But you don’t have to pay full price. Sites like Groupon offer discounted admission to local activities and attractions. Your local library may even provide free museum passes to library card holders.
20. ClassPass Gift Card
A ClassPass gift card is a perfect gift for a friend who likes to keep active and try different fitness classes. ClassPass gives people access to thousands of gyms, fitness studios, spas and salons all over the country. It also offers virtual classes.
21. Sign Up for a Race
Surprise a pal who’s into fitness by signing them — and yourself — up for a 5K, 10K and another upcoming race and paying for their registration fees. Make it more of an experience by scheduling time to train with them before the event.
22. Dance Lessons
If you know how to waltz or swing dance or can master all the latest TikTok moves, dance lessons can make for a nice experience gift.
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23. Perform a Song
If you’re musically inclined, sing or play a song for your loved one as a gift. Pick a song that has meaningful lyrics or is one of their favorites — or write a song of your own!
24. Scrapbook
The best gifts are the ones that are meaningful and personal. Create a scrapbook for your loved one to reflect on all the memories you’ve had together. Personalize it with photos, mementos, handwritten notes and more.
25. Create Your Own Guided Journal
Buy a blank journal and customize it with daily writing prompts or encouraging words to reflect on each day. This is a gift the recipient can use all throughout the year.
26. Positive Thoughts Jar
Purchase a bunch of popsicle sticks from your local craft store and write positive thoughts, well wishes or affirmations on each one. Decorate the outside of an empty clear jar and then add the popsicle sticks inside. Gift to a loved one with instructions to read the message from one stick each day.
27. Cameo Video
Cameo lets you arrange for your loved one’s favorite celebrity to send them a personal video message. Depending on which celebrity you choose, this gift could get pretty expensive. However, there are some actors, influencers and reality TV stars available to create messages for $25 or less.
28. The Adventure Challenge
The Adventure Challenge is a book filled with prompts to encourage couples, friends, family members or individuals to go on random, fun-filled adventures. It’s scratch-off style, so you won’t know what gift experiences you’ve signed yourself up for until you scratch off the adventure prompt. Each book costs $50.
29. Scavenger Hunt
This idea makes a great experience gift for kids. Set up clues all around the house eventually leading to a treat or small gift as the treasure. Bonus points if you incorporate a pirate theme.
Why not take the scavenger hunt online? Use this list of internet freebies to see who can score the most free stuff in a day.
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30. Yes Day
Based on the book and subsequent movie “Yes Day,” you can create your own Yes Day where you agree to do whatever the recipient asks of you for an entire day. This would be a perfect gift for the kiddos who are used to having to follow the rules and do what they’re told. For 24 hours, the tables will be turned!
31. Craft Kit
This is a great idea for an artsy or creative person. Gather together materials to create a craft project — like yarn and knitting needles for making a scarf or beads and string for jewelry making — or purchase a craft kit online or at an arts and crafts store. The experience is making it together.
32. Paint by Number Kit
A paint-by-numbers kit is great for someone who is artistic but needs a little assistance to create the masterpiece they imagine. You can find one online or at arts and crafts stores for under $20.
33. Herb Garden Starter Kit
Nurture someone’s green thumb by giving them an herb garden starter kit — a couple of nice pots, potting soil, seed packets and a small watering can. Rather than assembling your own kit, you could purchase one online or from a local home and garden store.
34. Subscription Box
With so many different subscription boxes out there, you can find something for anyone on your Christmas list. There are subscription boxes for foodies, beauty addicts, travel fiends and even murder mystery fans. An annual subscription can get costly, but many subscription box companies will let you purchase one box as a gift or sign up for a shorter subscription, like three months.
35. Mini Golf
You don’t need any real golfing skills to play — and enjoy — a round of mini golf. This activity is typically low-budget. Prices vary depending on location, but you can often play for less than $20 per person — making it a pretty affordable experience gift.
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36. Bowling
Bowling is another low-budget experience that’s good for the whole family. Costs vary, but you can usually play a game for less than $20 per person.
37. Skating
‘Tis the season for ice skating — but a trip to the roller skating rink would also be nice.
38. Airbnb Experiences
Airbnb experiences help visitors and locals alike explore something new or interesting in any given city. The prices of these experiences vary by location and type of activity, but you can find options for under $50.
Nicole Dow is a former senior writer at The Penny Hoarder. Deputy editor Tiffany Wendeln Connors updated this post for 2022.
When’s the best time of year to buy a car? Let’s see what all the experts say.
Edmunds: “Data shows that December is the best time of the year to buy.”
Autotrader: “The best time to buy a car is in late December when yearly, quarterly, and monthly sales goals converge.”
Cars.com: “Shoppers looking for the best deal on a new vehicle are typically advised to wait until the end of the year.”
Carfax: “The time of year you shop for a car is important, and analysts agree that consumers who go car shopping in December could obtain the best deals of all.”
Hmmm, how about that? IT’S ALMOST LIKE WE’RE SENSING A THEME HERE. It appears that December is the best time of year to buy a car — as long as you’re looking for the best deal, that is.
And it’s vital to get the best deal you possibly can because cars are getting ridiculously expensive these days.
In fact, the average sticker price of a new automobile just hit an all-time high of nearly $46,000, according to the market research company J.D. Power. Cars and trucks have never been this expensive before, and all that sticker shock helps explain a couple of other pertinent facts:
We’re making car payments for longer than ever. There’s been a spike in the number of car buyers signing up for six- and seven-year loans, instead of the traditional five-year auto loan. As a matter of fact, the six-year car loan has become the most popular option, with the seven-year loan coming in second, according to Edmunds.
What does all of this mean for you? Let’s go over the details.
Why December? And When in December?
Traditionally, the end of December is when automakers offer their most generous sales incentives, like cash rebates or zero percent financing, according to Cars.com. It’s also when dealerships are most likely to give you a deeper discount on the sticker price.
If you’re looking for a deal, try the year-end sales events at dealerships in your area.
“Automakers and dealerships want to close the year with strong sales,” Edmunds says. “They also want to get rid of the prior model-year cars that are taking up space, so they’re motivated.”
Dealerships and salespeople will be in a negotiating mood because they’re trying to meet their quotas. After all, there are year-end bonuses at stake.
“The biggest bargains are usually up for grabs on New Year’s Eve,” Carfax advises. “If you can’t make it on New Year’s Eve, the best days to visit a dealership are December 24 and December 27-30. Christmas Eve, when customer volume is light, is especially good.”
What If You’re Not Ready to Buy Right Now?
Of course, maybe you won’t be buying a car this month. Maybe the holidays are running you ragged. Maybe you’re going broke paying for Christmas. Maybe it’s too cold outside. Or maybe your current car is purring like a kitten and you’re not quite ready to replace it.
No problem! December isn’t the only strategically good time to purchase a vehicle.
Just in general, try the end of the month or the end of the quarter. Dealerships and salespeople typically have monthly or quarterly sales targets, and they often get a bonus for meeting their goals, Carfax says.
Can’t shop for cars on Christmas or New Year’s? Try a different holiday instead.
“Many other holidays on the calendar work to your advantage for car buying,” Autotrader advises. “Dealerships use just about any holiday with a three-day weekend attached to it, like Presidents Day, Memorial Day or Labor Day, for incentives to entice potential car buyers.”
Navigating the Trickiness of Today’s Car Loans
At your local auto dealership these days, the incredibly high sticker prices are making things tricky.
For example: Financial experts recommend prequalifying for a loan at a bank or credit union before visiting a dealership. That way, you can compare your bank’s offer with the dealer’s offer for better negotiating leverage.
However, we’ve been getting reports from car buyers who found that a dealership wouldn’t sell them the car they wanted unless they went with the dealer’s financing. Now, how firmly they hold to that will depend on the dealership. Just be prepared for that.
The stakes are high here. The terms of your auto loan are really important because you’re probably going to be making car payments for a long time.
To offset the high cost of today’s cars, more people are lengthening their loan terms to lower their monthly payments. A five-year car loan used to be the standard, but now it’s the exception. Today, nearly three-fourths of all new car loans are for longer than five years, according to Edmunds.
Here’s What Else You Should Know
Four final pieces of car buying advice:
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
Hey Penny Hoarders! As many of you know, we have a Community site that’s a gathering place for folks to discuss all things money. Through the support of fellow Community members, the site has helped people tackle their debt, increase their credit score and even book a dream vacation.
We’re excited to announce our Community site just got a makeover – one in which we feel provides a much more user-friendly experience. We wanted to share some things you can expect when you visit the new Community site.
What to Expect in the New Penny Hoarder Community
First up, The Penny Hoarder Community is still the place to share tips and find support on all-things money. Besides contributions from other Community members, you’ll also find our staff sharing personal stories on topics like frugal finds, money wins and fails, and more.
Earn Badges
So many badges. On the Community site, you can now earn badges for all sorts of things – creating or commenting on a post, or liking someone else’s post. Even just visiting the Community site on a regular basis. Also, the more badges you earn, the more things you’ll unlock on the Community site. Do you have what it takes to be a top contributor? You’ll not only earn the respect of your peers, but also gain access to exclusive opportunities and offers from The Penny Hoarder.
Events, Feedback and More
Badges are just the beginning. Throughout 2023, we’ll be adding more new elements to the Community site. We’ll use it as a spot to post and host regular Penny Hoarder events where we dive into pressing money topics together and let attendees connect with experts from The Penny Hoarder (and elsewhere).
Already a member of The Penny Hoarder Community? Be sure to read our post on logging in to the new site. We hope to see you there!
Will Simons is a community marketing product manager at The Penny Hoarder. Originally from Omaha, Neb., Will loves to help people get talking about bettering their finances.
We all make mistakes, and we all have regrets. That’s part of the deal when you’re a human being.
We got to wondering: What do old people regret the most, financially speaking? If they could go back in time, what would they do differently — especially when it comes to money?
A researcher at the University of Pennsylvania’s Wharton Business School recently found out. Economics professor Olivia Mitchell conducted a survey of nearly 1,800 older Americans with an average age of 72. “What’s your biggest financial regret?” she asked.
The answers may surprise you. Your average 72-year-old has regrets about how much longer they should have worked and whether they started claiming Social Security too early, among other things.
Pay attention to the 72-year-olds. Because if we know what they would do differently, then we still have time to change things before it’s too late.
Here are the top five financial regrets, along with our suggestions for how to handle them.
1. ‘I Should Have Saved More for Retirement’
Let’s start with the biggest one. An eye-opening 57% of older Americans regret that they didn’t save more for retirement during their working years.
That’s more than half! (Yes, obviously we are advanced mathematicians here at The Penny Hoarder.)
Actually, this shouldn’t come as much of a shock. Any number of studies have found that lots and lots of American families have virtually nothing saved for retirement.
Our advice here is really straightforward: Learn from your elders and start saving for retirement now. If your employer offers a 401(k) plan, sign up for it and learn how to maximize it. If that’s not an option for you, set up automatic withdrawals on payday into a Roth IRA, a type of individual retirement account. If you haven’t gotten around to this yet, the sooner the better.
If you’re already saving for retirement, dig a little deeper and sock away a little more. Even an extra $25 a week could make a huge difference over time, thanks to the magic of compound interest.
2. ‘I Should Have Bought Long-Term Care Insurance’
We know, we know. Your eyes are glazing over right now. After all, who wants to think about long-term care insurance? Boring, am I right?
The thing you should know here is 40% of older adults regret not having it. Forty percent!
Here’s why it’s important: Everyone seems to think Medicare will pay for you to stay in a nursing home in your old age. But it won’t. You’re the one who has to pay.
Long-term care insurance covers the things regular health insurance or Medicare won’t, like nursing home care, assisted living facilities, in-home medical care, in-home assistance for routine daily activities, adult day care, home modification and more.
Only about 7.5 million Americans have this insurance because, unfortunately, it can be pricy. According to the American Association for Long-Term Care Insurance, the average annual premium is $2,220 for a 55-year-old single male, $3,700 for a 55-year-old single female (it’s higher because women typically live longer) and $5,025 for a 55-year-old married couple.
So the insurance costs money. Long-term care is really pricy, though, so having this insurance can pay off.
3. ‘I Should Have Worked Longer’
Third on the list: 37% of retired Americans regret not working longer.
Once you hit your 60s, the two most useful things you can do to fund your retirement is to:
Keep working as long as you can, and;
Delay taking Social Security as long as possible. (More on that later.)
Lots of us don’t have any choice but to keep working, of course. Millions of Americans can’t afford to retire.
On the other hand, lots of us end up getting forced into retirement due to a layoff or health problems. Having trouble finding full-time work at your age? Here’s our list of 20 part-time jobs for retirees who aren’t quite ready to call it quits.
4. ‘I Should Have Invested in an Annuity’
Actually, we’re not too sure about this one. But here goes:
According to this Wharton Business School survey of nearly 1,800 older Americans, 33% of them regret not having invested in a lifetime annuity or some other product that would produce a guaranteed income for the rest of their lives.
Now, here at The Penny Hoarder, we’re not necessarily fans of annuities. Sure, guaranteed income for life sounds like a great deal, and that’s what most annuities promise. But nothing is ever as good — or as easy — as it seems.
The positives: Annuities protect you against the risk of outliving your money. No matter what, you’ll have income coming in as long as you live.
The negatives: They’re often ridiculously complex, with loads of less-than-transparent fees. You’re losing out on potentially growing your wealth because insurance companies make money on annuities by investing your cash and paying you less than if you were investing it on your own. And finally, inflation can eat away at your earnings over time.
5. ‘I Claimed Social Security too Early’
Fifth on the list: 23% of retired Americans suspect that they claimed their Social Security benefits too early.
When your 62nd birthday approaches, you’ll have a big decision to make: Should you take Social Security at 62 and accept lower benefits? Or should you delay Social Security to get a higher benefit amount?
The answer to whether taking Social Security at 62 is the right move for you depends on several factors: your life expectancy, whether you’re retiring early and your overall financial situation. By taking Social Security at 62 instead of at full retirement age, you’ll reduce your monthly benefit by 30% for life.
However, if you’re feeling relatively healthy and you wait until you’re 70 to start claiming your Social Security benefits, you’ll end up getting checks that are nearly 80% larger.
It’s a bit of a gamble either way. Just know that nearly a quarter of retired Americans wish they’d waited longer.
Here’s something you won’t regret: You’ll never regret digging into each of these topics, doing your own research and weighing all of your options before making a decision.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. And by “senior” we mean “older.”
We all know inflation is draining our bank accounts, but have you wondered just how bad it’s gotten? How much more are you spending right now just to stay alive?
Suddenly we’ve got an answer: $433 a month.
Yes, the number crunchers at the financial firm Moody’s Analytics figure that the average American household is now spending $433 more per month to buy the same food and gasoline and various goods and services that we were all buying a year ago.
Four hundred and thirty-three bucks! No wonder we’re all broke. Basically, if you’re living the same life you were living in late 2021, it’s costing you that much more just to break even.
That’s not sustainable, so everybody’s got to make changes. We got to thinking: What could you do to make up that extra cash you’re parting with each month?
Below we’ve got a list of eight changes — some big, some small — to make up that difference. Some of them might surprise you. By the end of this article, we’ll have tallied up $433 worth of slick moves to help you balance your books.
For context, the combo — which gets you a jumbo dog and a 20-ounce fountain drink (plus free refills!) for $1.50 — should cost well north of $4 by now, adjusted for inflation.
Why so cheap? Here’s an explanation from Costco CEO Craig Jelinek: “I came to (Jim Sinegal, co-founder and former CEO of Costco) once and I said, ‘Jim, we can’t sell this hot dog for a buck fifty. We are losing our rear ends.’ And he said, ‘If you raise the effing hot dog, I will kill you. Figure it out.’ ”
Projected savings: If you’re spending a total of $3 to replace two ordinary restaurant lunches per month, then we’ll say you’re saving $20.
2. Sell Something on eBay
Need cash? There are lots of things in your home that you may look at and say “Can I sell that? Probably not.”
But what if all the “probably not” items could actually have a home? What if even the strangest things — like empty boxes or broken electronics — could earn you a little money?
We’ve put together a list of 20 of the best things to sell on eBay — some of the most bizarre objects we can dream up to show you that they’ll actually sell.
Projected earnings: If you set your mind to it, we bet you can make at least $30 every single month this way.
3. Sell Your Poop
Looking for an easy side hustle? Every time you poop, you might be flushing money down the toilet. Your poop could save lives and make you some cash in the process.
It’s true. Some medical companies will pay healthy donors for their stool. Your precious sample is then used for microbiome studies or in treatment of patients with Clostridium difficile, a bacterium that causes infections in the colon.
The amount you earn with each donation depends on the company. GoodNature offers $25-$75 per visit, up to $1,500 per month. Poop With Purpose pays $50 per donation, up to $1,500 per month. HumanMicrobe pays $500 per stool donation.
Potential donors must be 18-50 years old, at a normal weight, nonsmokers and with no history of gastrointestinal disease or drug or alcohol abuse.
Projected earnings: To be honest, $1,500 per month might be a little optimistic. Let’s be conservative and go with $100 instead.
4. Cancel a Streaming Service
We’d say “Cut the cord,” but if you’re as broke as we are, you’ve probably already canceled cable. (If you still have cable, though, cut the cord.)
The problem is, if you’re anything like us, you’re probably subscribing to more than one streaming service. Maybe you’ve even lost track of how many. After all, there’s Netflix, Hulu, Amazon Prime, Disney+, Paramount+, Peacock, HBO Max and Apple TV+, among others.
Projected savings: If you drop a couple of subscriptions (you can get by with fewer), we bet you’ll save at least $20 per month.
5. Inflation-Proof Your Pantry With a $65 Two-Week Meal Plan for Two
Buckle up. Now we’re getting serious — and more ambitious.
Clearly the price of groceries is out of control. Now, if a $33 weekly grocery bill for a couple ($16.50 per person) to afford three square meals a day sounds a little crazy, you’re not wrong. But we did it anyway.
While you could get by eating ramen and peanut butter sandwiches for a while, scrounging like a college student indefinitely doesn’t have much appeal. Instead, we put together a $65 two-week grocery list of nearly 30 items that’ll net two adults fairly well-rounded meals without skimping too much on the good stuff.
This two-week grocery spending plan can be stretched to accommodate a family of four simply by doubling up on ingredients — and cost. Or expand this plan to a month if you prefer to track your family’s budget and compile a shopping list on a monthly basis.
Projected savings: Everybody’s got to eat, but there’s more potential for savings at the supermarket than you might think. If you really commit to lowering your grocery bill, we bet you can save in the ballpark of at least $180 a month.
6. Turn Down the Thermostat
Here’s something that’ll send a shiver down your spine: Heating your home is going to be noticeably more expensive this winter.
In fact, Americans are about to see the largest spike in their heating bills in more than a decade. But we’ve got eight tips to help you lower your heating bill. For example, close off unused rooms, insulate your windows (it’s cheap), add a little weather stripping and block out drafts from the bottoms of exterior doors.
If you take the entire year into account, the cost of cooling, heating and lighting your home is massive. Although it requires a small initial investment, try installing thermal curtains or a programmable thermostat. Or check out these creative energy-saving ways to slash your utility bills.
Projected savings: We think you can save at least $30 a month on heating and cooling your home.
7. Look for Cheaper Car Insurance Every 6 Months
Have you been paying your car insurance bill to the same old company for years and years? You have, haven’t you? In that case, you’re probably paying too much.
Every six months, when it’s time to renew your policy, take a little time to look around for a better deal.
If you want, there are any number of apps that’ll happily do this for you. Options include Everquote.
Projected savings: It’s reasonable to think you can save at least $25 a month this way.
8. Take a Few Simple Steps to Save on Gas
Filling up the gas tank can be a thoroughly miserable experience as you watch the counter flip past $40, then $50, and keep on going.
But you can save money on gas based on where you fill up, how you pay, when you visit the gas station, how you drive and even the condition of your car.
We’ve compiled 20 smart tips to help you spend less on fuel. Most notably, join a fuel rewards program, use apps like GasBuddy to find the cheapest gas, fill up early in the week when prices tend to be lower — or simply ease off the gas pedal and slow down.
Projected savings: We’re going to say you’ll save $28 per month on the dot. Why not?
Make a Habit of Looking for Savings
There we go! Make these eight changes — some big, some small — and bingo, presto, you’ll achieve $433 per month in savings and extra earnings.
You don’t have to stop there, either. If any of these strategies aren’t working for you, here are four others to try:
Pick a cheaper grocery store. You might not be shopping for food at the least expensive option. Compare prices, which you can typically find online.
Get a haircut every eight to 10 weeks instead of every six.
Before you shell out for things like furniture or baby gear, check out Buy Nothing groups on platforms like Facebook and Nextdoor to see if one of your neighbors is looking to get rid of something similar.
Picture a never-ending river of McNuggets, all for you. A vast lake of Shamrock shakes. A bottomless supply of Big Macs, Quarter Pounders and Egg McMuffins.
What’s that? Free McDonald’s for life, you say? Sign us up. Our arteries won’t mind, honest!
The fast-food giant just announced it’s making its fabled McGold Card the grand prize in its latest contest, meaning that you’ll have a shot at winning free Mickey D’s for the rest of your days. December will also bring plenty of meal deals like BOGO Big Macs.
Beginning Monday, Dec. 5, every time you order food in the McDonald’s app, you’ll be entered into a drawing. After Christmas, three randomly selected winners will each get a McGold Card. Each winner also gets three extra cards to hand out to friends and family.
Technically, “free McDonald’s for life” means you get two free meals a week for 50 years. Still, that’s a whole bunch of Happy Meals. We’re talking 5,200 trips to the Golden Arches.
The McGold Card is apparently something of an urban legend among followers of Ronald McDonald. A card that gets you free McDonald’s forever, woooaaahhh. Supposedly, big shots like Bill Gates and Warren Buffett each possess one of these cards.
“Our fans have been fascinated by the lore of the McGold Card and if it really exists,” said Tariq Hassan, McDonald’s chief marketing and customer experience officer.
(OK, fine, let’s assume that’s true.)
“Now we’ll make this McDonald’s legend a reality for our fans by giving them the ultimate holiday gift — a chance to win a card and then share access to it with three of their family or friends,” Hassan added.
Meal Deals and Merchandise
This new contest is centered around the McDonald’s app, which lets you order ahead and pay online. It also gives you access to exclusive deals and a rewards program.
Aside from the McGold Card drawing, McDonald’s is trying to lure customers to its app all through December with three weeks of food deals and exclusive merchandise.
The deals: They vary by day and include buy one, get one free Big Macs; free six-piece nuggets with a $1 purchase; and a 50-cent double cheeseburger. There’s a list of deals by date here.
The merch: These include a Chicken McNuggets Christmas stocking, an Egg McMuffin hoodie and a Hamburglar T-shirt. Mickey D’s says they’ll be available in “two exclusive merch drops on Dec. 7 and 14” as long as you make a $1 purchase.
Of course the grand prize in this online Big Mac attack is the McGold Card, which we think of as the biggest Happy Meal in the world. It means free McDonald’s twice a week for 50 years — of course, that’s assuming you’ll actually live for 50 years if you eat McDonald’s twice a week.
Supersize me, baby.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
If not, Cyber Monday will offer plenty of great opportunities and excellent deals to motivate you to get that beach, mountain or overseas vacation booked.
Many companies have announced fantastic Black Friday and Cyber Monday travel deals. We’ve rounded up some of the best deals we could find.
13 Cyber Monday Travel Deals
1. Booking.com
One of the internet’s most popular travel sites currently is offering Late Escape Deals where you can save 15% or more on select hotels at destinations all over the world.
Paris, Dubai, New York City, Miami, Cancun and many more locales can be booked between now and Jan. 3, 2023.
2. G Adventures
This company is known for its planned itinerary adventures to places all over the world. G Adventures currently offers up to 30% off through its Cyber Sale — with deals on adventure tours on every continent. For example:
That’s just a small sample of the countless destinations that G Adventures offers. For this particular sale, you have until Nov. 30 to book for select trips departing no later than April 30, 2023.
3. Margaritaville at Sea
You can’t wait until Monday for this one. The Margaritaville at Sea Paradise cruise ship set sail in May 2022, and they are gearing up for their first Black Friday sale.
Margaritaville at Sea is offering all-inclusive four- or six-night cruise packages starting at $349 per person. You’ll cruise to the Grand Bahama Island and stay at Wyndham Fortuna Beach or Grand Lucayan Resort. As part of the sale, a free upgrade includes an express pass for priority boarding, unlimited drinks and two-way transfers.
Teachers, veterans and first responders can cruise for free on the Margaritaville at Sea through the end of 2023.
4. Holland America
Not to be outdone, the Holland America cruise line currently offers 40% off many cruises to Alaska, the Caribbean, the Mediterranean and more. Many deals also include kids for free.
If you have high-end tastes, Insight Vacations might be right up your alley. This company offers guided tours with small groups to help you make the most of your vacation to destinations all over the world.
Insight Vacations says their “classic tour” option averages 33 people per trip, while you can upgrade to their “small group” tour with less than 24 people.
6. REI Adventures
You might know them for their outdoor clothing and gear, but REI will also help you plan your adventure trip too. They are currently offering 20% off trips booked by Nov. 21.
Prices range from $1,399 to $3,299 for REI members, depending on the trip. Non-members can expect to pay a few hundred dollars more per trip.
Pro Tip
Before you book, consider traveling during shoulder season when destinations are cheaper and less crowded.
7. Priceline
Priceline is another extremely popular travel site with a variety of Black Friday and Cyber Monday hotel deals that will last through the holiday weekend.
For starters, you can save 20% off at hotels all across the world — from Playa Del Carmen to Punta Cana to Phoenix to New York City. Priceline members (it’s free) can also save $100 when they spend $500 or more by using the discount code FRIDAY100 between Nov. 22 and Nov. 25.
8. Omni Hotels and Resorts
The Omni brand is currently offering an Escape and Save Black Friday sale in which you’ll receive 15% off at its hotels when you stay two nights or more.
Omni has locations all across the United States, including Los Angeles, Denver, Chicago, Louisville, Amelia Island, Florida and many more.
You can book a three-night stay at a Caribbean resort starting at $149 per person. Or go the all-inclusive route starting at $349 per person for three nights. Cheap Caribbean says if you add airfare and hotel transportations you’ll save even more.
Another great option for Black Friday and Cyber Monday deals comes through Vacation Express, which offers many destinations in Mexico and the Caribbean.
They are offering up to 35% off at Bougainvillea Barbados, up to 54% off at the Golden Parnassus Resort and Spa in Cancun, 15% off Royalton Negril Resort with one kid and one teen free, up to 50% off at the Windjammer Landing Villa Beach Resort in Saint Lucia, plus many others.
Required booking dates vary by deal, but most deals expire sometime between the end of November and the end of December.
Pro Tip
Going international with your travel deal? These 12 tips — like exchanging money before you go — can help you save on international travel.
11. Exoticca
Are exotic vacations your thing? Well, Exottica might be for you. The adventure tour company has a wide range of Black Friday deals to unique destinations — many of which are up to 70% off.
You can choose an 11-day tour through Morocco for $1,399 per person (regularly $4,679), a 10-day tour through ancient Rome destinations for $1,499 (regularly $4,999) or a 10-day safari through Kenya for $1,999 (regularly $6,699).
Exoticca also offers tours through Greece, Thailand, Ireland, Costa Rica, Argentina and many other countries.
12. Xantarra
Xantarra offers “legendary travel with a softer footprint” to many national parks in the western United States, as well as smaller cruise lines and railway vacations.
Black Friday approaches, and maybe you’re thinking about grabbing a sweet deal on a new phone or a tablet or a bigger TV.
Us, we’re thinking about bacon and eggs.
For an extremely limited time, Denny’s is about to sell an extremely-limited-edition T-shirt that doubles as a yearlong breakfast subscription. The restaurant chain’s “Everyday Value Tee” has a QR code that’s sewn directly into the shirt. You can use this wearable coupon to redeem an Everyday Value Slam meal for free every single day for an entire year.
The shirt is valued at nearly $2,200, according to Denny’s, and will be sold for — wow! — only $5.99.
But here’s the most important thing you need to know: Only 150 of these magical bacon-and-pancakes-delivering T-shirts exist, and the online-only sale launches promptly at midnight on Black Friday, Nov. 25.
So get your mouse-clicking fingers ready, or make sure your phone is fully charged. These shirts are gonna go fast.
Free Eggs, Bacon and Buttermilk Pancakes, Mmmmm
Technically, the sale starts at midnight Eastern Standard Time, or 9 p.m. Pacific time. So depending on what time zone you’re in, you might need to put down the Thanksgiving turkey leg to log on.
The shirts will be for sale on dinerdrip.com, an official Denny’s website that sells all the Denny’s gear you could possibly want.
What, you’ve never visited DinerDrip before? Well, if you happen to be looking for a Denny’s coffee mug or a hoodie or, you know, some yellow-and-red-colored Denny’s-branded socks, that’s definitely the place to go.
The international restaurant chain, which boasts more than 1,600 locations, says the QR code will be valid from Jan. 1 to Dec. 31, 2023.
What’s an Everyday Value Slam breakfast, you ask? For the record, it’s two eggs and two bacon strips or sausage links, as well as a choice of two buttermilk pancakes, one slice of French toast, or a biscuit with gravy.
So the Everyday Value Slam pretty much has you covered, breakfast-wise.
Oh, here’s the fine print:
It’s dine-in only. No online orders, no DoorDash or anything like that.
One per day. No repeats.
The shirts are only valid in the U.S., which means the Denny’s locations in Costa Rica, El Salvador, the United Kingdom, New Zealand and Japan are out of bounds. (Sorry.)
Only one Everyday Value Tee QR code can be redeemed per table. If you and your spouse or partner somehow manage to score matching free-breakfast-for-a-year T-shirts, you’ll have to sit in separate booths.
No switching out of orders. If you’re craving Moons Over My Hammy, you’ll have to pay for it yourself.
Your cholesterol level is your own responsibility, citizen.
So on Black Friday, you can have your marked-down Echo Dots and your Instant Pots and your robot vacuum cleaners.
Us, we’re suddenly craving bacon.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. At Denny’s, he’s partial to The Grand Slamwich® on potato bread.
You’re not imagining things. This year, the winter holiday sales started even before the pumpkin spice items were marked down.
The days of the winter holiday shopping season officially kicking off on Black Friday — and exclusive Cyber Monday deals — are gone.
“Consistently over the last decade, we know that consumers are out in the market earlier than ever and the holiday season is getting extended into the fall,” said National Retail Federation President and CEO Matthew Shay. “Retailers are finding ways in which to meet consumer expectations and deliver value, so the holiday season continues to get expanded which provides consumers more time to shop.”
According to Salesforce, sales were up 10% year over year from 2020 to 2021 in the first three weeks of November, and like previous years, they predict people will shop early again in an attempt to get the very best deals and jump start checking things off their shopping list with great discounts.
According to the NRF, the holiday season runs from Nov. 1 through Dec. 31, and many of their predictions are based on that timeframe. This year, the federation projected, sales will grow between 6% and 8% above last year’s record season.
“We do know that consumers are looking for discounts, they’re looking for deals, for value to stretch their dollars in the face of higher energy prices and housing prices,” Shay said. “We know that they’re looking for those opportunities and we think that’s going to continue on for the holiday season. They’re going to be looking for bargains and values as the holiday season begins in earnest.”
Cyber Monday vs. Black Friday
Good deals are abound this holiday season, but what’s better — shopping on Black Friday or Cyber Monday?
What Is Black Friday?
Traditionally, Black Friday — the day after Thanksgiving — was the unofficial start to the holiday shopping season.
Stores would offer great deals on things like televisions, electronics, appliances and other items to get people into their doors.
Some retailers would open early in the morning on Friday, even as early as midnight. The most dedicated shoppers even pitched tents to camp out for the best spots in long lines, in the hopes to score a discount.
Often quantities were limited, so only the first few people in the stores would snag the best deals.
Part of the fun was the thrill of it all, but online shopping started to chip away at Black Friday’s prominence.
What Is Cyber Monday?
When online shopping began to take hold, online retailers wanted to jump onboard the Black Friday frenzy, creating Cyber Monday deals to attract online shoppers.
They knew many people would be back at work and looking at a screen come Monday morning, so online shopping deals on the Monday after Thanksgiving became a thing.
The Inflation Effect
Inflation, which is leading to the higher costs of things this year, is on everyone’s mind. And it’s impacting consumer behavior.
“I think we’re seeing continued stratification among households based on income levels. Spending at higher levels continues to be robust and for consumers and households at slightly lower levels, it remains durable and resilient,” Shay explained. “But those lower income households in particular are feeling the pinch of rising costs on everyday essentials and those are the households we’re paying close attention to as we move into the holiday season.”
Shay said people are supplementing their spending with savings and credit to give themselves a cushion. Salesforce reported in 2021, usage of buy-now-pay-later options grew 29% globally — $22 billion was financed.
How Retailers Are Adapting to the Changes in Holiday Shopping Behavior
The NRF says retailers understand that people are looking for holiday items earlier than ever before, which is why many traditional red and green items were already on display right next to the Halloween stuff.
Sales and deals are well underway, both in brick-and-mortar retail stores and online. The NRF reports that 56% of shoppers plan to do at least some of their shopping online, 48% plan to shop at discount stores, 47% say they’ll shop at department stores, and 45% will shop at grocery stores and supermarkets.
Hopefully, salespeople will be able to handle the load and many are already in place.
“We expect retailers will hire between 450,000 to 600,000 seasonal workers and that compares with about 670,000 last year. Some of that hiring may have been pulled earlier into the season to meet the evolving consumer demand,” Shay explained.
Stores themselves are also changing and getting more creative in how they manage their inventory and create an experience for their customers.
“While we saw a spike in online shopping [during the pandemic], we know that consumers really do enjoy the in-store experience and in some ways are reverting back to some of that pre-pandemic behavior,” Shay said. “But when they get to the store, the experience is not the pre-pandemic experience. It’s a changed experience and consumers are learning to think about stores differently.”
He added many consumers are ordering online and picking up in the store, or shopping in the store and having it delivered to their homes. Retailers are taking these behaviors into account and managing their inventory in a more sophisticated way and creating a healthier environment for the retail industry.
The average discount on Cyber Monday is about 30% and the sales usually extend over five days or more. Bebeto Matthews/AP Images
When Are the Best Deals?
Even though the sales have already begun, there are still fantastic deals to be had after Thanksgiving.
“It’s my belief that [the early start] has probably pulled some sales forward, but we will see continued deals and promotions,” said NRF Chief Economist Jack Kleinhenz. “November and December are still the major months for shopping and it will probably just expand the season and provide a bit more time to shop.”
Kleinhenz said he expects clothing to be a hot spending category this year, possibly because people want to look good after not traveling to see friends and family during the pandemic.
Even though the traditional five day shopping period between Thanksgiving and Cyber Monday is becoming less and less of a thing, it’s still important.
Last year, Salesforce reported that Black Friday was the biggest shopping day of that traditional time period, but the whole month of November was strong.
It’s also a tradition for some friends and family, and one that is hard to break. A September survey by NRF and Prosper Insights & Analytics revealed 45% of people they talked to say they are likely to browse and buy in stores on Black Friday this year.
How to Prepare for Black Friday and Cyber Monday Sales
The supply chain issues and shipping delays that haunted us last year aren’t as bad this year as many retailers got their inventory into their stores and warehouses early.
This year, it’s inflation causing issues.
The NRF says a recent survey showed 44% of shoppers say they plan to purchase seasonal items now because they think prices might go up instead of down.
Here’s how to make your overall shopping experience a bit easier and possibly save you money or help you earn rewards.
Make a list: (And check it twice). Having an idea of what you want to buy can help you focus your energy when you either go into a store or go online.
Know sale dates: If you wait, it may be too late to get that popular item you’re coveting. If there is something you know you want, look at the store’s website to see if you can get it now. Many stores offer price matching if prices go down.
Follow stores on social media, sign up for their emails: Stores might offer specials or codes only for people who follow them on social media, or sign up for their emails.
Join a store’s membership program: Some stores have special deals or offer early access customers who are members of their membership or rewards clubs. Sometimes even the return policies are different for club members. Some charge a monthly fee, so check if the savings will justify the cost.
Looking for more advice? The Penny Hoarder founder revealed his best tips for Black Friday shopping.
Ready to Shop? Get the Most Out of the Holiday Shopping Deals
Many of the large retailers have already started their promotions. Here’s a rundown of some of them.
Amazon
The holiday deals kicked off on Amazon in early October with a sale for Prime Members.
During that time, members ordered 100 million items, with 8 million of those being toys.
The best selling categories were apparel, home items, toys, and amazon devices.
The sales and deals will continue throughout the holiday season, and this year, customers can use the popular payment app Venmo to pay for purchases.
Best Buy
Best Buy began its holiday deals October 10 and they run through the end of December.
Members of Best Buy Totaltech™ and My Best Buy® will have exclusive access to what the retailer is calling “Member Mondays” and early access to the Black Friday deals taking place beginning November 20.
Cyber deals are beginning November 27 and what Best Buy is calling “20 Days of Deals” begins November 29.
The return window is until January 14, 2023 for items purchased between October 24 and December 31, 2022.
Kohl’s
Kohl’s has begun what it’s calling a “November Full of Savings,” billed as a campaign to give customers an opportunity to shop when and how they want.
After already having a few days of early deals, the store is continuing “Dashing Deal Days” in November and December with extra savings and Kohl’s Cash for use on future purchases.
The store is also doing an entire Black Friday week of deals beginning November 20 as well as deals specific to the days of Black Friday and Cyber Monday.
Physical stores will be closed on Thanksgiving Day.
As for returns, Kohl’s accepts returns for most items up to 180 days after purchase, but there are exceptions for some products.
Target
Target has already started advertising its Black Friday deals, three weeks earlier than they did last year.
New “Weeklong Black Friday Deals” debut every Sunday through Thanksgiving weekend and a “Deal of the Day” comes out daily. A weekly online ad will have a preview of the deals on Fridays.
Both types of deals are available in store, online, and through the Target app. Some offers are only available online.
Although Target advertises that the deals feature their best planned prices for the holiday season, they are offering a “Holiday Price Match Guarantee” if the item sells for a lower price between October 6 and December 24.
The store is mostly keeping its standard return policy throughout the holiday season, with 90 days to return an unopened item.
For electronics and entertainment items, the 30-day refund period for many items begins on December 26 for items purchased October 6 through December 25.
Walmart
Walmart is doing what it’s calling “Black Friday Deals for Days,” spreading deals over three November events, capping things off on Cyber Monday.
New online deals begin at 7 p.m. ET every Monday in November and members of Walmart + get seven hours of early access starting at noon ET.
The deals continue in stores a few days later.
As for returns, Walmart is calling it “no concerns” returns, allowing any item purchased after October 1 to be returned through January 31.
Many stores will be offering curbside returns and some will even pick up your items from your home.
Overall Holiday Sales Picture
The NRF reports that many shoppers start their shopping before November to:
Spread out the shopping budget.
Avoid the stress of last minute shopping.
Avoid crowds.
Take advantage of good prices and promotions.
Avoid missing out on specific items.
The NRF predicts people will spend $832.84 on gifts and holiday items this year, saying a September survey of 2,000 shoppers showed people think it is important to spend on holiday gifts and celebrations and are willing to cut back in other areas.
“We know that retailers are prepared to deliver great value this year and we know consumers continue to be emotionally invested in the holidays and this is a time of year that people save for and plan for,” the NRF’s CEO Shay said. “We think we’re in a good position to meet consumer demand and to navigate the challenges that both consumers and retailers are facing to deliver a very healthy holiday season.”
Tiffani Sherman is a Florida-based freelance reporter with more than 25 years of experience writing about finance, health, travel and other topics.
