The retailer has taken big steps over the last couple of years to revamp its fashion selection and bring in more premium brands in a bid to get wealthy shoppers to shop at Walmart.

Walmart is an especially great place to shop for all the little ones in your life. From the top trending toys for toddlers and kids to the most coveted brands for teens and tweens, you'll find plenty of great gift ideas for the grandkids at Walmart. You can head directly to Walmart's holiday gift shop now to browse some of their bestselling gifts of the season.

Not sure where to start? Keep scrolling for some of the most popular Christmas gifts for kids of all ages in 2025. Between Walmart's low prices and wide selection of trending gifts, you'll easily outcompete Santa Claus himself this year.

The best Christmas gifts for toddlers at Walmart

If you're trying to keep your holiday gift budget under control this year while still making your grandkids feel as special as they are, here are some of the biggest toy trends of 2025 available at Walmart.

• For the future chef: Melissa & Doug Flip & Fry Grill Play Set with Water WOW!® Color Reveal Play Food, $35
• A toddler's first pet: Pets Alive Polly the Magic Bird Electronic Girls Robotic Toy, $30
• For the gearhead-to-be: Monster Jam Smash & Bash Grave Digger Remote Control Vehicle, $45, Save 29%
• Share the classics with the next generation: Dr. Seuss's Christmas 3-Book Boxed Set, $25

Walmart's most popular gifts for kids

For kids roughly 6 and up, nostalgia is big this year. From rebooted Tamagotchis and Pokémon trading cards to the Furby and Rubik's cube, the most popular toys for kids this year are a blast from the recent past.

• For the kid who's "gotta catch 'em all:" Pokemon Trading Card Game Mega Evolutions Booster Bundle, $49. Save 11%
• A Furby that DJs and teaches yoga: DJ Furby Rainbow Electronic Plush Toy, $56. Save 20%
• The brain teaser that never gets old: Rubik's Cube, Pulse Cube, $19
• For the future coding genius: GiiKER Super Decoder, 600-Level Code-Breaking Puzzle for 1-2 Players, $50. Save 33%
• For the budding artist: Art 101 Glow and Neon Drawing and Painting Art Set, 61 Pieces, $25. Save 11%

The best Walmart Christmas gifts for preteens

Want to maintain your title of "best grandparent ever" this year? Pick up any of these gifts for your preteen grandkids and you're sure to win the title again.

• For the trendsetter: Stanley Quencher Flowstate, 40 oz., $25. Save 44%
• The gift your gamer grandkid is dreaming about: PlayStation Portal Remote Player, $179. Save 10%
• For the kid who never has enough Labubus: Pop Mart The Monsters (Labubu) Big Into Energy Vinyl Plush Blind Box V3, $33. Save 11%
• A fun way to capture memories: Fujifilm Instax Mini SE Instant Camera with Bonus 10 Pack Mini Film, $55. Save 25%

The best Christmas gifts for teens at Walmart

Shopping for teens can be tricky. But if you stick with one of these popular gift ideas, you're sure to squeeze a smile out of even the angstiest of teens.

• For the music lover: Apple AirPods 4, $85. Save 34%
• A popular tech gift for 78% off: Holy Stone 4K EIS Drone with UHD Camera, $130. Save 78%
• For the cozy gamer: Better Homes & Gardens Grey Bubble Faux Fur Ultra Soft Luxury Oversize Throw Blanket, $24
• Because snail slime is self-care now (really): COSRX Advanced Snail Hydrogel Eye Patch (60 Patches), $28
• For the fashion club captain: OPI Holiday 2025 Mini Nail Polish Set, 4-Pack, $20

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Steep increases in auto insurance premiums following the COVID-19 pandemic have been a major contributor. Costs for auto repairs have swelled, too, up 15% year over year in August, according to CPI data. Tariffs of 25% on imported car parts are driving up repair costs, as are more-complex repairs for vehicles packed with advanced technology, such as sensors that assist with blind-spot monitoring or warn you when you drift out of your lane. After a crash, fixing damage to these systems can add up to 37.6% to repair costs, according to AAA.

To mitigate ballooning car ownership expenses, try making these moves.

Consider ownership costs when you choose a car

As you decide which model to buy, think beyond the purchase price. Picking a vehicle with solid fuel economy rather than a gas guzzler could save you hundreds of dollars a year. You can select vehicle models and compare their fuel economy and estimated annual fuel costs at the U.S. Department of Energy’s fueleconomy.gov (in the “Find & Compare Cars” section, click on “Compare Side-By-Side”).

Reliability ratings of car brands can help you determine the likelihood of a car needing frequent repairs. In its most recent assessment of vehicle dependability, which tracked problems in the first three years of car ownership, J.D. Power found that Lexus rated highest overall. Among mass-market brands, Buick, Mazda and Toyota topped the rankings.

With online calculators, you can assess a car’s overall ownership costs. The tool from automotive-research site Edmunds estimates a car model’s total five-year costs, including insurance, maintenance, repairs, fuel and other factors. At Kelley Blue Book, a vehicle valuation and research company, offers a tool that lets you do a side-by-side comparison of five-year costs for various models.

Manage the ongoing expenses

If you haven’t compared quotes on auto insurance policies in a while, it’s worth shopping around; you can gather quotes on sites such as Policygenius.com and TheZebra.com. Take advantage of any discounts you qualify for, such as for automatic bill payments or low annual mileage.

Stay on top of routine maintenance, such as oil changes and brake inspections, to help avoid costly repairs down the road. You may spend less at an independent garage or oil-change shop than at the dealership, according to Edmunds (although certain tasks, such as work on sophisticated electronic systems, are best performed at the dealer). Look for coupons or specials that offer discounts on maintenance services.

When you buy gas, use an app such as GasBuddy to check for the lowest prices at stations near you. Some credit cards provide extra rewards on fuel purchases. The Costco Anywhere Visa Card by Citi, available to Costco Wholesale members, offers 5% cash back on gas purchased at Costco and 4% on fuel you buy elsewhere (you’ll earn those rates on a combined $7,000 in annual fuel spending and 1% thereafter).

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Right now, you can save up to 77% on NordVPN depending on the plan. That’s a significant cut for a service that’s consistently ranked among the most dependable and user-friendly VPNs available.

Whether you want to protect your data while traveling, access streaming content from other countries or simply beef up your everyday privacy, this offer gives you premium-level protection for much less.

What’s a VPN?

A VPN, short for virtual private network, helps protect your identity and online activity by routing your internet connection through an encrypted tunnel. It masks your IP address, making your device appear as if it’s in another location.

This makes it harder for advertisers, hackers or even your internet provider to track you. It also opens the door to accessing region-locked content, which is why frequent travelers and streaming fans often consider a VPN essential.

VPNs can help prevent risks on public Wi-Fi, shield sensitive information during online shopping or banking and create an extra buffer between you and the many digital threats that exist today.

Save on security with NordVPN

NordVPN is up to 77% off for Black Friday and combines privacy tools, a clean interface and a strong global server network, making it a great choice whether you're at home or on the road. If you want to watch a show that’s only available in another country or maintain access to your usual library while abroad, NordVPN can help.

Beyond location control, NordVPN includes built-in security features. That includes:

• Ad and tracker blocking to cut down on intrusive ads
• Malware protection to help detect harmful downloads
• A password manager for simpler, safer logins
• A global server network for reliable connections
• Fast speeds that work well with streaming in HD or 4K

These tools run quietly in the background, offering protection without slowing you down. For many users, the combination of speed and privacy is the biggest selling point.

Whether you’re looking for safer browsing or more flexibility when watching your favorite shows, this discount delivers strong value for the price. With up to 77% off, it’s one of the strongest VPN offers we’ve seen this Black Friday weekend.

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But as snowbirds know, your home is left behind and has to deal with any harsh winter conditions it encounters.

And if you return home and find damage, you might be in for another surprise: Your provider might not cover it. Because of that, you'll want to address these common insurance gaps before taking off for the winter.

Leaving your home unoccupied

Say you return home after a restful season, only to discover some minor damage from a leaky roof shingle. No worries, you call your home insurance carrier to start a claim, and they ask if someone watched the home while you were away.

How you answer that question can determine whether you're out thousands or just your deductible. Some insurance companies won't cover home damage if the homeowner isn't home for 30 days or more and doesn't assign someone to watch it under the vacancy clause.

This is why it's integral to have someone visit your home regularly while you're away. They can pick up anything that arrived that you might have forgotten, and check to ensure your home is OK.

To see if this applies to your home, contact your insurance carrier. It's also a great time to shop around to see if you're receiving the best deal. Use this Bankrate tool to compare options fast and save money:

Failing to protect your pipes

One area that winter weather impacts the most is your home's pipes. If your insurance carrier determines that your pipes burst due to you turning off your heat or because you failed to insulate them properly, you may be liable for all the damage the leaks wrought.

That is why you'll want to do the following:

• Outside: If you have any garden hoses connected, remove them, drain them and store them somewhere dry. Next, you'll want to shut off any outdoor water valves. You can find these inside your home near the pipe on the wall that goes outside.
• Insulate your pipes: You can buy foam insulation at your local hardware store, cut it to size, wrap it around the pipe and secure it with insulation tape. Doing this will keep the pipes warmer, making them less likely to burst when the temperatures dip.
• Turn off the water supply: On the day you leave, shut off the water supply entirely, unless you have someone planning to housesit for a portion of the trip. To locate the main valve, look for the point where the water pipe enters your house, typically near your water heater, basement or crawl space.
• Lower, don't turn off the heat: Set your thermostat eight to 10 degrees cooler than you normally have it while there. This keeps your home cooler without shutting off the heat entirely, which can make your pipes more susceptible to damage.

Keeping your car stored outside

If there's a vehicle you don't plan to take on your winter journey, you want to ensure it remains in an airtight garage or car capsule before leaving. The reason? Over the winter, critters of all types can find cars and use them as nests to build their families.

As cute as that sounds on the surface, they'll also chew through wires and other critical components to make room for their growing family. When you return, you may encounter lengthy repair times, particularly if you have a luxury, foreign or antique vehicle.

Additionally, some auto insurance carriers are removing animal damage from their comprehensive policies. That means you could be liable for paying for all damages incurred from these furry little critters. And some of these repair bills can be tens of thousands of dollars.

The solution? Contact your current insurance carrier to see if you have protection. And if they don't offer it, you can use this Bankrate tool to shop around for a carrier that does:

The bottom line on insurance gaps for snowbirds

Before you travel south for the winter, know there are some insurance gaps you'll need to address before leaving. Doing this ensures you protect some of your most valuable assets while also preventing you from being liable for any damages that occur while you're gone.

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Starting November 25, Hulu subscribers can add HBO Max with Ads for only $2.99 per month for 12 months. Considering the standard HBO Max price is $10.99 per month, this limited-time offer unlocks a full year of TV and blockbuster movies at a fraction of the usual rate.

Whether you’ve been waiting to catch originals, revisit holiday classics or binge this year’s new releases, Hulu’s HBO Max Black Friday deal makes premium streaming more affordable than ever.

Why the HBO Max add-on is a good deal

Hulu’s Black Friday promotion brings the HBO Max with Ads add-on down to $2.99 per month for 12 months, compared with the regular $10.99 monthly price for the Basic with Ads plan. The savings last a full year, and once the promotional period ends, the add-on returns to standard pricing.

The deal runs now through December 1, and once it expires, the add-on returns to standard pricing. If you’ve been thinking about trying HBO Max or expanding your current Hulu lineup, this is one of the most aggressive discounts Hulu offers all year.

Who can add HBO Max to Hulu for $2.99

The deal is open to new and existing Hulu subscribers on eligible plans who don’t currently have the HBO Max add-on. Those on ineligible legacy plans will need to switch to a qualifying plan if they want to redeem the offer.

Once added, subscribers can enjoy HBO Max’s wide catalog of acclaimed originals and premium series, including new titles like IT: Welcome to Derry, The Pitt and recent releases such as The Conjuring: Last Rites.

How to add HBO Max to your Hulu subscription

Adding HBO Max is simple. Log in to your Hulu account, go to “Account,” then choose “Manage Add-Ons.” Select HBO Max (with Ads) and confirm the update.

Hulu will handle billing for both your main subscription and the add-on, making it a seamless upgrade.

To access HBO Max titles, download the HBO Max app, choose “Sign in with a provider,” select Hulu and log in using your Hulu credentials.

You’ll be able to stream select HBO programming directly through Hulu while accessing the full HBO Max library through the app.

There’s no long-term commitment, and you can cancel at any time through your Hulu account.

What you can watch with the HBO Max add-on

HBO Max brings a substantial entertainment library to Hulu, from timeless holiday movies to genre-defining originals. The platform’s mix of series, documentaries and new titles makes it one of the most robust catalogs available.

Whether you're rewatching yearly favorites or introducing holiday classics to someone new, HBO Max offers a wide selection to kick off the season.

Christmas movies on HBO Max:

• A Christmas Story
• A Christmas Story 2
• Dr. Seuss’ How the Grinch Stole Christmas
• Elf
• Four Christmases
• Fred Claus
• Holiday Affair
• Jack Frost
• National Lampoon’s Christmas Vacation
• Scooby Doo: Haunted Holidays
• The Polar Express

What’s new on HBO Max in December

HBO Max adds new titles monthly, including documentaries, comedy specials and a sequel to a beloved cult classic.

Here are a few highlights:

December 4

It’s Never Over, Jeff Buckley — A documentary exploring the life, music and legacy of Jeff Buckley.

December 12

Sarah Squirm: Live + In the Flesh — A stand-up special from “Saturday Night Live” cast member Sarah Sherman.

Spinal Tap II: The End Continues — A follow-up to the iconic mockumentary that reunites the original fictional heavy-metal band.

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This year, Hulu is focusing heavily on premium add-ons like STARZ, delivering deep discounts that let you watch more for less. Whether you’re catching up on dramas or starting your holiday movie marathon, Hulu’s new offer means you can stack major entertainment without the premium price tag.

And if you’ve been waiting for a reason to try STARZ or jump back in for a new season of your favorite series, Hulu’s limited-time STARZ add-on Black Friday deal makes the decision pretty easy.

Why the STARZ add-on is such a strong value

Hulu is offering new and existing subscribers the chance to add STARZ for only $2.99 per month for 12 months, a drop from the regular price of $10.99 per month.

That’s one of the lowest prices you’ll see for the premium channel all year. To get the deal, you’ll first need a Hulu base plan, which starts at $11.99 per month, and then you can add STARZ at the discounted rate.

The clock is ticking, though. Hulu’s Black Friday offer is available now through December 1, and once the discount expires, STARZ returns to its standard pricing.

Who can add STARZ on Hulu for an additional $2.99 during Black Friday

The deal is open to new and existing Hulu subscribers who don’t currently have STARZ, as well as anyone who has been without a STARZ subscription for at least one month. That means a wide swath of viewers can take advantage of the promotional pricing without needing to create a brand-new account.

What you can watch with the STARZ add-on

Why consider STARZ? The add-on unlocks access to an extensive catalog of hit movies and original series. Subscribers can stream everything from action blockbusters to thrillers, all in one place.

Current standouts include titles like Ballerina, Now You See Me, Venom: Let There Be Carnage, Borderlands and more, giving movie fans plenty to binge during the holiday season.

But STARZ is perhaps best known for its original programming. The network is home to major hits like Outlander, Power Book IV: Force, BMF and a growing library of exclusive series that you can’t find on any other streaming service.

Hulu lets you cancel anytime, so you’re not locked into a year-long commitment even though the discount lasts for 12 months. That makes it a low-risk way to test STARZ during the peak entertainment season, when new episodes, holiday specials and fresh movies are released.

When does the Hulu Black Friday savings end

With premium networks continuing to raise prices across the board, Black Friday has become one of the best times of the year to secure lower streaming rates. If you’ve been considering consolidating your streaming apps or trimming back on subscriptions, this offer gives you premium content at a fraction of the regular price.

Whether you’re catching up on your movie-to-watch list, starting a new original series or kicking off your annual holiday movie binge, Hulu’s Black Friday STARZ deal delivers a lot of entertainment for a very small price.

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Driven by a projected 20% rise in wholesale natural gas prices for 2026, the cost of keeping your home toasty could rise sharply, depending on where you live and the type of fuel you use.

Electricity is expected to lead the price hikes, with double-digit jumps in some parts of the country, followed by more modest increases in the cost of residential natural gas. The price of home heating oil, though still the most expensive way to keep a house warm, is expected to remain flat or even drop in some areas.

“Even with temperatures forecast to mirror last winter, home heating costs are expected to rise about 10% overall, as utilities pass higher fuel costs directly to consumers,” says Mark Wolfe, executive director of the National Energy Assistance Directors Association.

How can you ease the pinch? “The smartest and cheapest thing homeowners can do is focus on efficiency first,” says Laura Bowler, design lead with Ramboll, a sustainable architecture and engineering consulting firm. “Simple steps can make a big impact.”

Here are some to consider.

1. Seal air leaks

Check your windows and doors for leaks that let in cold air and moisture. For the windows, you can use rope caulk (about $6 at your local hardware store) to seal any openings or damage to sealant you find, says Kriss Swint, marketing director with Westlake Royal Building Products in Columbus, Ohio.

For the doors, you can install a door sweep, a type of weather stripping that plugs the opening at the bottom ($10 to $20). Reducing these drafts can cut your energy bill by 5% or more, according to the U.S. Department of Energy (DOE).

2. Unblock vents

Check around your home to make sure your vents aren’t blocked by furniture, which wastes heat and forces your system to work harder. Don’t want to rearrange couches and beds? You can instead connect a small plastic extender or deflector to the vents ($7 to $20), which can steer warm air to the areas of your home that need it most.

3. Use a smart or programmable thermostat

To save on heat while you’re out of the house, consider installing a programmable thermostat, which lets you set an automatic schedule for adjusting the temperature.

Turning down your thermostat by 10% to 15% for eight hours a day can reduce your bill by 10%, according to the DOE. Or spring for a smart thermostat linked to your cell phone that will track your location and daily patterns, then adjust the temperature in your home accordingly. A basic programmable model is about $50; a smart thermostat goes for around $100 to $200.

Below are a few top-rated smart thermostats from Amazon:

4. Insulate the attic

“Roughly 25% of heat loss occurs in the attic,” says Swint. To help prevent that, add more insulation, such as fiberglass, wool, or cotton, between the attic joints to trap heat. “If you’re a DIYer, this project should take a weekend,” says Swint.

'Average cost: $1,500 to $3,500, depending on the size of your attic and the material used.

5. Replace old heating systems

This could be an ideal time to spring for a new furnace or boiler, while some tax credits are still available for energy-efficient upgrades. One such credit, which expires at the end of 2025, can cover 30% of your energy-efficient home upgrades, for a total savings of up to $3,200. You may also qualify for state and local rebates, depending on where you live.

While you’re at it, also consider replacing an old attached garage door, which can be a significant source of heat loss. New versions have more insulation and improved sealing.

A bonus: Sellers recouped nearly double the average $4,513 they paid for a garage door replacement in 2024.

For more-targeted guidance, consider working with a professional home-energy auditor. “An audit will help identify where heat loss is happening and what improvements make the most sense,” Bowler says. For information on finding an auditor, visit energy.gov/energysaver/professional-home-energy-assessments.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Contributions to these investment accounts grow tax-deferred, and you can withdraw funds tax-free for qualified college expenses, such as tuition, room and board, computers, and books. Most states and Washington, D.C., also offer a tax deduction or credit for residents who contribute to their state's plan.

Over the years, tax-free uses for 529 funds have expanded to include some other educational costs, too, including apprenticeship programs and tuition for kindergarten through 12th-grade schooling. The One Big Beautiful Bill Act, signed into law over the summer, has further extended the ways you can use 529 money, including a wider range of postsecondary educational programs.

What's covered by 529 plans now

Under the new rules, you can now withdraw 529 funds tax-free for tuition, books and other fees associated with qualifying non-degree credential programs, including for plumbing, electrical work, HVAC and welding.

Programs listed under the Workforce Innovation and Opportunity Act generally qualify; you can look up your state's directory of WIOA-eligible programs on CareerOneStop, the U.S. Department of Labor's career, training and job-search website. You can also check for eligible programs in the Web Enabled Approval Management System (WEAMS), maintained by the Department of Veterans Affairs.

Additionally, withdrawals from a 529 are tax-free for certification and licensing expenses and for continuing education required to maintain those licenses. For example, you may use funds to prepare for and take exams required to practice law or become a certified public accountant. Professionals such as teachers, nurses and real estate agents may use 529 money for continuing education to retain their licenses or certification.

If you've been saving money in a 529 for your child, these new rules broaden the options for how they can spend the funds. Or, if you need to take continuing-education courses for your current job or want to learn new skills for a career pivot, you could benefit, too, says Mary Morris, CEO of Commonwealth Savers, Virginia's program for tax-advantaged education savings.

You can change a 529 plan's beneficiary to another member of the family. So if your child doesn't need all the money in their account — say, because their educational expenses were lower than expected — you could switch the beneficiary to yourself and use the funds for your own education.

Note that provisions in the Big Beautiful Bill Act also let families use up to $20,000 per year for elementary and secondary school tuition, course materials, tutoring, fees for standardized tests, and more. Previously, qualified withdrawals of 529 money for K-12 students were limited to tuition, up to $10,000 annually. (The $20,000 limit starts in 2026.)

Not all states have altered their rules to follow the federal government's expanded uses for 529s, so make sure to check your state's policies.

The Roth option for 529s

Keep in mind that thanks to the SECURE 2.0 Act, passed in 2022, there's another way to put leftover 529 money to good use. You can roll over the funds, up to a $35,000 lifetime maximum, into the 529 beneficiary's Roth IRA, tax- and penalty-free.

Rollovers must be within the annual Roth contribution limit, which is $7,000 in 2025 and $7,500 for 2026. The 529 plan must have been maintained for the beneficiary for at least 15 years before you can do the rollover.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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With gift givers spending more than ever, that pressure is mounting. In 2024, U.S. consumers dropped a record $994 billion on holiday shopping, according to the National Retail Federation, and projections by the Mastercard Economic Institute suggest holiday sales will continue to climb this year, by an estimated 3.6%. Higher-income shoppers, buoyed by a surging stock market, are likely to spend even more.

Shelling out bigger bucks, though, doesn't necessarily yield better gifts for the people you love. The NRF says holiday returns last year were 17% higher than average, suggesting a growing number of presents are missing the mark, putting added pressure on gift givers this year.

"We give gifts because we want to make people happy, give them something they'll enjoy and signal we care about them," says Elanor Williams, an associate professor of marketing at Washington University and a leading gifting researcher. "And therefore we stress about it."

How can you reduce that anxiety and land on gifts the people you care about will love? Science can help.

A growing body of research from behavioral finance experts identifies the kinds of presents that people typically like best and the mental quirks that prevent many people from buying them. Understanding these preferences and the cognitive traps that lead gift givers astray can help ensure your holiday presents not only stand out when they're unwrapped but also stand the test of time.

These are the strategies that leading researchers in the field suggest.

Skip the razzle-dazzle

Have you ever splurged on gifts for your family that made them exclaim in delight upon opening, only to never see the items used or played with again? You may have fallen victim to the smile-seeking hypothesis.

Coined by researchers at the National University of Singapore and the University of Chicago Booth School of Business, the term refers to the tendency of gift givers to focus on eliciting the biggest reaction at the time a present is opened — a big smile or expression of awe — rather than on whether the item will bring your recipient long-term satisfaction when he or she actually uses it in the future.

The researchers ran several experiments to test the hypothesis, including one in which they randomly assigned participants to give or receive one of two similarly priced mug sets as a wedding present: an award-winning ergonomic set or a personalized set with inscriptions of the couple's names and wedding date.

Gift givers favored the more personal mugs and predicted the newlyweds would have a more positive reaction to them when opened and like them more over the long term, too. In reality, the recipients preferred the more useful mugs, both at the moment of unwrapping and for use over time.

"There's so much pageantry that goes along with exchanging gifts, especially at Christmas," says Williams. "It really gets you focused on that moment where you're going to hand that gift over and see what the person says when they open it."

What to do instead? Rather than try to wow loved ones when you give them a holiday gift, focus on whether your kids, grandkids and dear Uncle Bill really need the item and will use it and like it in the days and weeks to come.

Research shows, says Cindy Chan, an associate professor of marketing at the University of Toronto, that recipients are often just as happy, if not happier, to open practical gifts as they are showstoppers, valuing a seemingly boring gift more because they get more use out of it.

"For my parents and their stockings one Christmas, I just threw in some kitchen utensils," Chan says. "I noticed that their kitchen tongs were really annoying, that their ladle was starting to crack. They use them every day, and they appreciate that gift."

Gift them what they want

One of the simplest ways to get everyone on your list something they will enjoy is to put yourself in their shoes, says Mary Steffel, associate professor of marketing at Northeastern University who has published multiple research papers on the psychology of gift giving.

"Try to think about what that person might choose for themselves, and let that help guide your decision," Steffel says. "That's more likely to keep our focus on the recipient's preferences as opposed to other motives, like our desire to feel thoughtful."

The easiest way to do this? Buy something from your recipients' wish list. Studies suggest your loved ones will appreciate that gift more than an unsolicited surprise offering and consider it more thoughtful, even if it doesn't feel that way to you.

That was the conclusion of a study out of Harvard Business School and Stanford University's Graduate School of Business. In one experiment, the researchers gave gifters the option to pick a present from their recipient's Amazon wish list or choose one on their own. People were more satisfied when they received gifts from their list — just as, in other experiments, they preferred to get wedding gifts from their registry and birthday gifts they had explicitly requested.

Still, gifters love to go rogue. Why the disconnect? The researchers concluded that people giving presents mistakenly believe it makes them look more considerate when they think up gift ideas for someone on their own, though the opposite is true.

"We want to feel thoughtful. We want to communicate, I want to show you how well I know you," says Julian Givi, associate professor of marketing at West Virginia University and a leading gifting researcher. In reality, he says, these are unconsciously selfish motivations because they don't put what the recipient really wants first.

Don't get too personal

You may think that a highly personal gift will signal how well you know the unique tastes and preferences of your friends and relatives. But a series of studies spearheaded by Northeastern University's Steffel and Washington University's Williams show how these kinds of presents can backfire.

In one experiment, the researchers randomly assigned participants to imagine that they were either giving a gift to a close friend or receiving one from that pal. They were then presented with two gift options: a Visa gift card that could be used anywhere or a gift card from the recipient's favorite clothing store. As it turned out, givers were far more likely to choose a gift card to the recipient's favorite store, but the people getting the present preferred the more versatile Visa gift card.

Steffel and Williams's research also finds that you are more likely to choose a personalized, less versatile gift for someone you're close to — say, a child or sibling — than people with whom you have a more distant relationship because you think it signals how well you know the recipient. Ironically, you could be giving the people you love worse presents than your acquaintances.

Buying your daughter a gift card to a store you know she's purchased clothes from before shows you are paying attention, but it doesn't take into account all the other facets of her personality, Steffel says. Clothes might not be first on her wish list.

"Givers tend to pick something that is representative of who their recipient is," she says. "Recipients are more likely to focus on what they want or need right now, so gravitate toward a gift that's more flexible."

Play the hits

You also don't have to bend over backward to give everyone a different present, even if the gifts will be opened at the same holiday gathering. If you've landed on a winner — say, Labubus for the grandkids or Amazon gift cards for the adults — go with it.

Steffel and Robyn LeBoeuf, professor of marketing at Washington University, tested that strategy in a series of experiments. In one, the researchers invited college students to get a jump on holiday shopping by giving either one or two friends a $25 gift card; in the two-friend scenario, only one of the recipients was a student at the giver's school. The gift-card choices were Amazon (established in pre-testing as the one people would likely want most), the university bookstore or a sporting goods store.

When giving a present to their fellow student alone, 72% of gifters chose the Amazon card while 24% picked the bookstore. For two friends, 81% picked the Amazon card for the person who didn't attend their school, and the number giving the university bookstore card to the college pal jumped to 43%.

Other experiments established the likely reason was to appear thoughtful by choosing a uniquely suitable gift — even one that might not be enjoyed as much.

"Givers may be overthinking it," Steffel says. "You really should be giving people the thing that you think they're going to like the most, even if it is a duplicate of something you're giving somebody else."

Favor experiences over stuff

Gifts of experiences — say, a gift card to a favorite restaurant or tickets to a play or ballgame — are likely to bring you closer to your loved ones than material gifts, studies show. So think about what the people on your holiday list enjoy doing in their spare time and how you might tailor a gift to their preferred activities, suggests Chan.

Her research, conducted with Cassie Mogilner, a professor of marketing and behavioral decision-making at the University of California, Los Angeles, looked at how different types of presents affect the relationship between giver and receiver. In one experiment, university students were recruited with a friend, with one from each pair randomly assigned to be the giver while the other was the receiver. Givers could purchase either a $15 experiential gift or a $15 material gift, and recipients rated the strength of their friendship with the giver before and after getting the present.

The researchers found that recipients rated the experiential gifts as far more effective at improving the relationship — even when the experience wasn't something the friends could do together.

This is because experiences elicit a stronger emotional response than purely material gifts do, Chan says. It's not so much that the person getting the gift likes it more; rather, it makes her feel closer to the giver when she consumes it.

"Experiential gifts tend to be more emotionally intense and more emotionally evocative, and this has a spillover effect on making the relationship stronger," Chan says.

You can also mix a material gift with an experience for greater impact. Rather than buy your coffee-connoisseur son a gift card to a local java joint, for example, you could present him with a bag of coffee beans and a mug with a heartfelt note saying you hope he will savor them before work. When your son has his first sip each morning, he will think of you fondly.

"It's very different to say 'Here's a mug, I hope you love it,' than 'Here's a mug, I hope it brings you a moment of calmness in your busy day,' " says Chan. "You will feel differently about that mug."

Don't overthink it, though. No matter what you give your loved ones for the holidays, Chan says, they're likely to appreciate the gesture. "People talk about bad gifts, but really, really bad gifts are not the norm," she says. In the end, she notes, "most gifts are well liked."

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Verizon Home Internet is a wireless internet solution that runs off the 5G networks your phone uses, offering reliability, speed and no need for a scheduled installation.

The service is quickly gaining traction as cable alternatives get more expensive, and additional perks like entertainment add-ons and a credit to help you switch make Verizon Home Internet highly appealing. But just like any other internet service, it’s important to carefully review all of the pros and cons to decide if this service is right for you.

What Verizon Home Internet offers

Verizon Home Internet offers convenience that you won’t find with wired internet services. Since Verizon’s 5G internet uses the Verizon 5G Ultra Wideband network that your phone uses, the service connects to local cell phone towers.

There’s no need to schedule an installation, drill holes and run wires through your home. Instead, a 5G receiver in your home connects to cell phone tower signals, acting as a modem and router to connect your home devices.

The plan structure is simple and straightforward, too. There are no annual contracts, and you won’t find extra fees or equipment charges. The router is included for free as long as your plan is active. Verizon offers a three-, four- or five-year price lock guarantee on its plans, so you can avoid unexpected price increases.

There are additional ways to save and maximize the value of your plan, too. If you sign up for Auto Pay or bundle your mobile and home internet plans, you can get a discount.

Verizon also offers discounts for service members, teachers, nurses, students and first responders. Additionally, you can add on perks like Netflix, HBO Max, Disney+, Hulu, ESPN+ and other entertainment bundles to save on what you’d pay for those services if you bought them on their own.

How much Verizon Home Internet costs

The cost of Verizon Home Internet depends on the plan you choose and the discounts you qualify for.

The following prices include discounts with Auto Pay and paper-free billing, as well as a discount for also having a Verizon mobile plan.

• 5G Home - $35 per month: The plan has fast speeds, unlimited data and 1080p HD video streaming.
• 5G Home Plus - $45 per month: The plan includes faster speeds, unlimited premium data and 1080p HD video streaming.
• 5G Home Ultimate - $60 per month: This plan has the fastest speeds available, unlimited premium data and ultra HD 4K video streaming. It also includes a free router upgrade after three years and one WiFi extender.

Where Verizon Home Internet works best

Since Verizon Home Internet relies on the Verizon 5G service, the internet service works best in areas where the 5G coverage is strong. Those areas tend to include metro areas and coverage may be spotty or slow in more rural locations.

You can check coverage availability using Verizon’s coverage map. Keep in mind that to get top speeds, you’ll need to be close to a Verizon cell tower. The farther away you are from the tower, the slower your internet speeds will be.

Pros and cons at a glance

Weighing the pros and cons of Verizon Home Internet can help you decide if it’s right for you.

There are several appealing pros to this internet service:

• Easy setup: There’s no need to drill holes or run wires, since this wireless plan runs off Verizon cell towers. In most cases, you can set up your service yourself, though Verizon does state that this option isn’t available in every location.
• Simple, upfront costs: The plans are straightforward and easy to understand, and there are no hidden fees or annual contracts required.
• Early termination fee coverage: If you’re a new Verizon Home Internet customer and you face an early termination fee when switching over, Verizon will give you a credit of up to $500 to help cover that fee.
• Equipment is included: All plans include a free router as long as your service is active. The 5G Home Ultimate plan also includes a free Wi-Fi extender, so you can access the internet throughout your entire home.
• Additional perks: You can add and save on entertainment services like Netflix and HBO max. Verizon is also offering a special holiday gift option with the 5G Home Ultimate plan; you can choose from a Samsung TV, Samsung Galaxy Tab or Nintendo Switch system.
• Suitable for current and new customers: You don’t have to have a Verizon mobile plan to sign up for the Verizon Home Network. While you can qualify for a bundle discount if you do have a mobile plan, you can choose to purchase just the home internet plan, too.  

There are also several downsides to this internet service that you should consider:

• Limited availability: The availability of this internet depends on how close you live to Verizon cell towers. If you’re in a busy metro area, there’s a greater chance that this internet service is available, and that you’ll get faster speeds.
• Variable speeds: Speeds vary according to the plan you purchase and the 5G signal strength in your location. If you want to get the fastest speeds, you’ll need to buy the 5G Home Ultimate plan, which is the most expensive.
• Self installation: While the ability to install the service yourself may be appealing to some, if you’re not terribly tech-savvy, the self-installation may be a downside.

Who Verizon Home Internet is best for

With its wireless convenience, Verizon Home Internet is a solid choice if you’re in a location where there’s a strong Verizon 5G signal. The plans’ straightforward pricing make shopping for internet simple, but the numerous entertainment options also make the service an appealing and potentially money-saving pick for anyone who enjoys streaming services.

While there’s a lot to like about Verizon Home Internet, the biggest limitation is the 5G network availability. If you’re in a rural area or are too far from Verizon cell towers, the speeds may be slow or the service might not be available at all. If you’re considering this internet service, it’s a good idea to start by checking the coverage map to verify that it’s available in your area.

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Trade-ins are popular because they benefit both you and the carrier. You get an instant price break, and the carrier gets your old device to refurbish and resell.

But it’s still worth thinking twice. Keeping your old phone can offer perks like resale value, a backup device or a hand-me-down for a family member.

Why trade-in deals are so common

Trade-in deals are common because they benefit companies and are appealing to customers, too. By offering customers deals to trade in an old phone, manufacturers and carriers can encourage customers to trade up sooner, driving sales.

They can also refurbish and resell the phones that they take in on trade, which can help companies expand their customer base into those looking for phones at a lower price point. Offering trade-in deals also serves the important purpose of boosting customer loyalty, since customers will continue paying for service as they’re paying down the cost of their new phone.

But trade-in deals offer benefits to consumers, too. Trading in an old phone can help to make the cost of buying a new phone more affordable. It’s easy and simple to trade up for a new model, plus you won’t have to worry about recycling or disposing of your old phone.

Benefits of keeping your old phone

Keeping your old phone offers several benefits:

• Resale: Many lightly used phones still hold significant value, and you can potentially resell your old phone for cash.
• Backup: Keeping your old phone means you’ll have it available as a backup device if you lose your phone or if it breaks. You can use your old phone as a backup while waiting for repairs or a replacement, so you can stay connected until your new device arrives.
• Hand-me-down: Many parents choose to keep an old phone as a hand-me-down device for family members. Giving your kids your old phone can make a lot of sense, especially if they’re younger and are still learning how to properly care for a valuable phone.
• Avoid e-waste: Keeping and repurposing your old phone can help reduce e-waste, or discarded electronic devices. If you no longer have a use for your phone, be sure to recycle it appropriately. You can find local recycling sites through Call2Recycle.

How Verizon’s monthly phone financing works

It can be tempting to trade in an old phone to make your new device more affordable, but Verizon’s monthly phone financing can make it easier to pay for a new phone even if you don’t have a trade-in.

Verizon’s monthly phone financing divides your phone’s cost into 36 monthly installments. You can pay those installments over the full 36-month period, or you can pay the balance off in full at any time. Current Verizon customers can use the payment agreement when they add a line to their account or upgrade a device.

A credit check is required to qualify for financing. To increase your chances of approval, Verizon recommends that you pay all of your balances on time and pay off any past-due amounts over $25 before you apply.

When a trade-in does make sense

Trading in your phone may make sense if you have a newer phone that will substantially reduce the cost of your upgrade. You may also consider a trade-in if you’re looking for a fast solution and don’t want to deal with the hassle of selling your phone.

If you have a little time to work with, then keeping your old phone may make more financial sense. Chances are you can make more money off of your phone if you sell it yourself than you would by trading it in. That’s particularly true if your phone is a little older and has lost some trade-in value.

How to evaluate your current phone’s lifespan

To get a sense of how much lifespan your current phone has left, you’ll need to consider several factors:

• Battery health: As phones age, their battery health declines, meaning you’ll have to charge your phone more often as you use it. You can check the battery on an iPhone by going to Settings and choosing the Battery option. On an Android, you’ll find the Battery information in the Settings section. If your phone has less than 50% of its battery health, it’s time to start thinking about a replacement.
• Storage capacity: As your phone starts to run out of storage, your usage options will be limited. You can add storage to a newer phone, but it usually doesn’t make much sense to add storage to an older, less valuable phone. To check your storage on an Android, go to Settings. Your phone should have a Storage or Device Care option with details about your available storage. If you have an iPhone, navigate to Settings, General, and iPhone Storage.
• Operating system support: Manufacturers only support operating systems for so long. Six to eight years of support is pretty common. Check your phone’s operating system and do a little research to see how long its support period is. Once you’re beyond the support period, the manufacturer will stop issuing software updates, so you could start to encounter technical and security issues.

These factors can help you determine how much more use you might get out of your old phone, and they can make it easier to decide if you should trade it in.

If you decide to purchase a new phone, consider how you’ll make the purchase. Buying a phone outright gives you more carrier flexibility, since you can switch carriers if you want. But if you need to finance your phone, you’ll need to stay with your carrier until you’ve paid it off, which could be frustrating if the carrier’s coverage or service doesn’t work well for your needs.

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When you mix that with lingering inflation and higher shipping and labor costs, the result is the same: smaller discounts and fewer jaw-dropping bargains.

If you’ve been waiting to upgrade your laptop, replace an appliance or check off your holiday gift list, this shift matters. Some categories will offer real savings, but others are likely to disappoint. But with the right strategy this Black Friday shopping season, you can still find value.

Let’s break down what’s happening and how to shop smarter this season.

The new reality for Black Friday pricing

Tariffs have always been a behind-the-scenes cost factor, but this year their impact is far more visible. U.S. import duties on a wide range of consumer goods like electronics, tools, household items and more, have increased or expanded. Since retailers can’t absorb all those higher costs, they pass a portion on to consumers.

That matters because Black Friday discounts often rely on retailers buying huge quantities in advance at low prices. When those upfront costs rise, markdowns shrink. Layer on lingering inflation and higher shipping and labor costs and retailers are facing thinner margins than they’ve seen in years.

Rather than slashing prices dramatically, many stores are opting for smaller markdowns, bundled offers, or heavily restricted “doorbusters” designed to protect profitability.

Categories facing the biggest price pressure

Some product categories are far more exposed to tariff-driven price creep, and those are the ones most likely to disappoint deal hunters this year.

Electronics

When it comes to phones, laptops, tablets, gaming consoles and monitors, many of these categories rely heavily on imported components subject to tariffs. Expect fewer steep discounts and more deals that don’t rival years past.

Major appliances

Large kitchen and laundry appliances are among the most affected by tariff increases on metal and imported parts. Retailers may advertise sales, but the actual savings could be modest.

Tools and home improvement supplies

According to Family Handyman, tariffs on common materials and tool components are playing a big role in pricing this season. Expect limited discounts on power tools, compressors and accessories.

Apparel

While clothing discounts will still exist, brands facing higher production costs may not push the aggressive 50–70% off deals consumers are used to.

Categories where value is still possible

Not all areas of holiday shopping are feeling the same tariff squeeze. If you’re looking for real value, prioritize:

Home goods & seasonal decor

While still affected by rising costs, seasonal items tend to be high-markdown categories because retailers need to clear inventory fast.

Beauty and personal care

These items have strong profit margins, which gives retailers more room to discount without losing money.

Domestic or non-tariff-heavy brands

Products manufactured in the U.S., Mexico, or other lower-tariff regions may see deeper markdowns.

Digital products and services

Streaming subscriptions, gift cards, apps, online course and software bundles aren’t subject to import duties, so deals may stay competitive.

Timing your purchases for the best value

With tighter margins, retailers are spreading out their promotions over longer timelines instead of saving everything for the day after Thanksgiving.

Here’s how to time your purchases this year:

• Early deals (late October–early November): This time is best for toys, small kitchen appliances and seasonal décor.
• Black Friday: Look for limited-quantity doorbusters (but expect them to sell out quickly). Electronics may not be as steeply discounted as in years past.
• Cyber Monday: Good for online-exclusive brands, streaming services and software. Tech accessories like chargers, cables, mice, keyboards tend to peak here.
• December clearance: Best for apparel, gift sets, décor and stores working through excess inventory.

If you’re unsure, use price-tracking tools like CamelCamelCamel to see whether a “deal” is actually the best it’s been all year.

How to spot weak or inflated discounts

Not all Black Friday deals are created equal, and this year especially, shoppers will see more promotions that look impressive on the surface but offer very little real savings. One of the biggest red flags is the artificial markdown.

This is when a retailer shows a steep discount based on an inflated “original price” that the product rarely, if ever, sold for. If the item has been sitting at roughly the same price all year, that dramatic slash isn’t a true deal.

Another tactic to watch for is the bundle strategy. Retailers may package an item with accessories or low-cost add-ons to make the total “discount” seem larger than it is. While these bundles can sometimes offer value, it’s worth checking what the main item costs on its own and whether the extras are things you actually need.

Limited-quantity doorbusters are also trickier this year. Stores may advertise a standout deal, but only keep a handful in stock. These offers can drive excitement, but most shoppers won’t get them and many end up settling for a far weaker discount on the standard item.

Lastly, pay attention to modest percentage cuts on recently marked-up items. A 10% discount doesn’t help much if the price quietly rose by 15–20% over the past few months due to tariffs or supply-chain costs. When in doubt, checking price history tools can help you spot when a sale isn’t really a sale.

Smarter ways to shop this year

If you want to protect your wallet in a higher-tariff, lower-discount environment, focus on strategy and not hype. Here are a few strategies to try:

• Compare pricing across retailers. Prices are varying widely this season. Don’t assume the big box store always wins.
• Track historical prices. Browser extensions and price-history tools can help you confirm whether a “deal” is truly worthwhile.
• Buy from retailers with price protection. Some stores will refund the difference if the price drops later. That’s a major win in a year with unpredictable discounts.
• Prioritize needs over nice-to-haves. Since deals may be weak, focus your budget on the items you genuinely need to replace.
• Consider open-box, refurbished or previous-year models: These items may escape the tariff-inflated pricing that affects new inventory.
• Look beyond the traditional retailers: Warehouse clubs, membership-based sites and off-price stores may offer better value on certain categories.

Tariffs are shaping Black Friday more than many shoppers realize. But with careful timing, smart comparison and an eye for real value, you can still save meaningfully this holiday season.

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Think of this as a quick financial reset (not a full overhaul). The goal isn’t perfection; it’s progress. By reviewing where your money went this year and making some intentional decisions before December 31, you can lower your tax bill, boost your savings and walk into 2026 with a clear plan and a little more peace of mind.

Here are six practical things you can do before the end of the year to set yourself up for a stronger financial future.

1. Perform a year-end budget checkup

Before setting any new goals, take a moment to assess how well your current budget has worked this year. Look through your spending over the past few months and see if there are areas where costs crept up or categories where you consistently underspent.

Are you overspending on takeout or subscription services? Is your grocery bill ballooning? Adjust your budget now so you’re not carrying bad spending habits into the new year. If you’ve had a lifestyle change like a new job, a move or a growing family, update your categories accordingly.

A quick budget tune-up now can help you redirect funds more intentionally in the new year.

2. Shore up your emergency fund

An emergency fund is your first line of defense against financial curveballs like unexpected car repairs, medical bills or temporary job loss. If you’ve dipped into yours recently or haven’t prioritized building one, now is a great time to play catch-up.

Aim to have three to six months' worth of living expenses saved in a separate, easily accessible account.

Even adding an extra $100 or $200 before year’s end can make a difference. Consider using year-end bonuses, tax refunds, or any extra cash from canceled subscriptions (more on that below) to pad your emergency savings.

A high-yield savings account is a great option for an emergency fund because it offers easy access to your money, is usually FDIC or NCUA-insured, and earns more interest than a standard savings account. This helps your safety net grow while still staying fully accessible.

Use the tool below to explore some of today's top savings account offers:

3. Use up your Flexible Spending Account (FSA)

If you have a healthcare FSA through your employer, remember: most of these accounts follow a "use it or lose it" rule. That means any funds left unspent by December 31 could vanish unless your plan includes a rollover or grace period.

Now is the time to schedule any last-minute doctor visits, dental cleanings, eye exams, or even stock up on eligible over-the-counter supplies. Use your provider’s FSA store or IRS guidance to see what’s covered.

4. Audit and cancel unused subscriptions

Subscription creep is real, and it’s one of the easiest ways to leak money each month. Between streaming services, meal kits, mobile apps and fitness memberships, you could be spending far more than you realize.

Pull up your bank or credit card statements and scan for any recurring charges. If you haven’t used a service in the last month or two, cancel it or set a reminder to reassess later. Redirecting those funds toward savings or debt payments could make a meaningful impact in 2026.

5. Schedule health appointments before your deductible resets

If you’ve already met your health insurance deductible for the year, now is the time to squeeze in any final medical, dental or vision appointments. Since your out-of-pocket costs may be significantly lower, it’s financially wise to get procedures or checkups done before the calendar flips to 2026 and your deductible resets.

This is especially important for more expensive care such as physical therapy, mental health counseling, dermatology or preventive screenings. Even routine follow-ups are worth scheduling now to lock in savings.

6. Max out tax-advantaged accounts

One of the most powerful moves you can make before December 31 is to max out contributions to tax-advantaged accounts. That includes:

• 401(k) contributions: For 2025, the limit is $23,500 for those under 50 and $30,500 for those 50 and older.
• Traditional IRA contributions: You can contribute up to $7,000 ($8,000 if you’re 50 or older) until the tax filing deadline, but contributing now gives your money more time to grow.
• Health Savings Accounts (HSAs): If you’re enrolled in a high-deductible health plan, you can contribute up to $4,300 for individuals or $8,550 for families in 2025.

These contributions can reduce your taxable income, help you grow retirement savings faster and give you a head start on next year’s goals.

Start the new year with financial momentum

A few hours of intentional planning in November and December can set the stage for a financially stronger 2026. By tightening your budget, reducing waste, maximizing benefits and investing in your future, you’re not just closing out the year. Instead, you’ll be building momentum for the one ahead.

Don't let the calendar turn without taking advantage of these smart moves. Your future self will thank you.

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What causes this long-term loyalty? One reason is that switching bank accounts, especially checking accounts, can be complicated. You must update direct deposits and change every automatic bill payment you make. As a result, many people prefer not to go through the hassle of switching.

But is this loyalty costing you opportunities to earn better returns? This is where the trend of "soft switching" comes in.

Soft switching means trying a new bank while keeping your current one, with the option to close the old account later. This is something I know well because I did it, but before you rush to it or write it off, you should understand the benefits of soft switching and what to consider before making the change.

How I used soft switching to reach my goals

I was a big-bank customer for more than a decade, but as I was building up my savings, I found their interest offerings to be less than adequate. I was only earning a fraction of interest on my account holdings, so I explored the best high-yield savings accounts offered by online banks, which provided substantially higher annual percentage yields (APYs).

Instead of closing my big-bank accounts and transferring all my money to SoFi, the bank I wanted to try out, I opened a high-yield savings account (HYSA) with SoFi and left my old accounts open. From there, I set up automatic transfers from my old checking account to my SoFi savings every time a direct deposit was made.

The result? I was earning hundreds of dollars more annually with my SoFi high-yield savings account. After months of higher returns, I decided to open a checking account with SoFi as well, since it made accessing cash in my HYSA easier, and their checking account came with a 0.50% APY. From there, I closed my old big-bank accounts, completing the switch.

Why do people switch bank accounts?

If you're trying to make your money work better for you, switching bank accounts can be the smarter move in some instances. Say you have $10,000 in savings with your local bank, earning 0.02%. In the course of a year, you'll earn $2 on that account.

That's not optimal. Instead, if you take that $10,000 and open a high-yield savings account with Newtek Bank, you'll receive an APY of 4.35%. In the course of a year, you'll earn $444.57, giving you an extra $442.57 just for switching bank accounts.

Higher rates aren't the only reason people switch. Here are others:

• You've had bad experiences with your bank (high fees, poor customer service)
• You want access to better features (improved mobile app capabilities, responsive customer service)
• Avoiding fees, as some local banks offer accounts laden with them
• You want to take advantage of savings account bonuses
• You moved to a new city and don't want to use your old bank account
• Access to other accounts (CDs, money market accounts) with better returns

Reasons switching banks might not be a wise move

Switching might not work in certain scenarios. If you rely on a local branch to assist you with banking, then going to an online bank takes away that in-person help. For some, having that help is necessary to keep finances in line.

Another reason is that "soft switching" bank accounts requires considerable attention to detail. Until you make a full switch, you'll continue to manage multiple accounts from different banks, which can be overwhelming.

Only take this on if you feel comfortable managing everything. If you need assistance in this area, the best budgeting apps make it easier to manage your finances, especially if you have accounts at multiple banks.

A checklist for soft switching bank accounts

If you're interested in trying it out, here are some things you should do to make the process smoother:

• Do your research first: Ensure your new bank has an excellent reputation, offers accounts that meet your financial needs, and verify that accounts with sign-up bonuses don't come with higher fees.
• Make gradual shifts: When I started, I only opened a HYSA with SoFi and set up automatic transfers from my former checking account to fund and build it up over time. This gave me time to test SoFi's banking features, customer service and more to ensure it was a good fit for me.
• Create a list of automatic payments/deposits: This made switching my checking account more manageable because it gave me time to update everything when I wanted. I did this gradually over a few months to ensure I didn't miss any automatic payments before closing my older account. It also made the process much less stressful.
• Continue to shop around: I recommend shopping your savings account at least once per year. Doing this allowed me to find a better solution, which helped me reach some savings goals faster. You can use this Bankrate tool to find options fast:

The bottom line on soft switching bank accounts

The average person keeps their checking account for 17 years. Does that inertia cost you in the long run? It could, as many online banks offer substantially higher rates of return on savings accounts compared to their brick-and-mortar counterparts. This is where soft switching comes into play, as it allows you to try new bank accounts while maintaining your primary one.

The key is to take your time, research ample options to ensure you find the right one and make the switch gradually. Doing this makes the process less stressful and ensures you don't miss payments during the switch, while giving you access to the returns and features you deserve.

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After years of inflation driving up prices, many Americans are feeling the pinch. To cut your budget, you might be looking for ways to be more frugal.

In general, frugality is good. It's a way to be more intentional about what you buy and how you use it to avoid overspending when you can.

But in the pursuit of pinching every penny, it's easy to lose sight of the bigger picture. Sometimes, the effort or stress you're adding to your life aren't worth the few cents you're saving. Even worse, some frugal habits aren't saving you money at all.

As you look for ways to trim waste from your budget, avoid falling into the trap of following frugal habits that aren't worth it.

1. Driving far out of your way to save a few cents on gas

Within a certain radius, driving a little out of your way to save on gas could make sense, but there's a point at which the gas used to get there outweighs any savings you're getting.

Let's say your car averages about 22 miles per gallon for city driving. If the cheaper gas station is 11 miles out of your way, you'll use half a gallon getting there and half a gallon getting back.

Meanwhile, a typical gas tank on a midsize car holds about 16 gallons. At the current average price of $3.07 per gallon, the prices at the further station would need to be more than 19 cents lower per gallon than the station closest to you just to break even on the gallon of gas you used to drive there and back.

What to do instead

There are lots of ways to get discounts on gas without having to hunt down the lowest-priced station. One of the best options is to get a Costco membership and time your fill-ups with grocery shopping trips.

If you don't live near a Costco, there are other memberships that let you save on gas. You can also get cash back credit cards that offer 3% or more every time you fuel up.

If you stack that cash back on top of a membership that includes discounted gas, you could save more than 15 cents per gallon without having to drive out of your way.

2. Driving to multiple stores in a single trip to find deals

Driving all over town to visit multiple grocery stores because blueberries are cheaper at one place, but the butter you like is cheaper at another is probably not worth the time and gas.

You can use similar math as above to calculate how much you spend on gas to see if the price difference between stores is worth the extra gas you're using to hit multiple locations.

Even without calculating the cost of gas, think about the value of your time. Is paying 20 cents less for blueberries worth, say, the 20 minutes of your time spent driving to a different store and waiting in line to pay for your slightly cheaper produce?

What to do instead

If you have multiple stores you like, do a rotation in which you visit one per shopping trip.

For example, say you have four stores that you normally visit when you go grocery shopping every week.

Instead of going to every store every week, go to one store this week and stock up on a month's supply of whatever it is that store does best. Next week, go to another store and do the same.

Rotate through your stores so you're only ever going to one store per week, but you always have enough of your favorite groceries to get you through until that particular store is back in your rotation.

3. Buying everything in bulk

Yes, the per-unit price is lower if you buy a year's supply of coffee compared with the smaller bags. But a few months into your year's supply of coffee, it's going to taste stale and bitter. Taste aside, there are some items that you shouldn't buy in bulk because they'll spoil or lose potency after a time.

If the item will expire before you can use it, you're not saving money by buying bulk. You're wasting it.

Bulk buying is great for nonperishable items such as toilet paper or paper towels. It's also a good option for the things your household consumes a lot of. If your family eats more than a dozen eggs per week, buy the big case of eggs at Costco.

What to do instead

Do some math to make sure you don't stock up beyond what you can use before an item expires.

Even for nonperishable items, be mindful of how much you stock up. Sure, you can pay less per roll by buying a year's supply of toilet paper. But do you have a place to store that much toilet paper where it won't be in your way?

4. Handwashing dishes rather than running the dishwasher

If the dishes in question aren't dishwasher safe, you'll need to handwash them. But if it can go in the dishwasher, it probably should. These machines are more water-efficient than many people give them credit for.

If you have a relatively modern dishwasher, it's probably using a little more than three gallons (PDF) of water per cycle. Some use as little as one gallon per cycle.

Meanwhile, the gallons used when handwashing depend on your technique. If you keep the faucet running, you're probably using about 15 gallons (PDF) every five minutes. If you fill the sink to soak your dirty dishes, that uses about five gallons. You'll use a few more gallons to rinse them.

With either handwashing method, you'll use more water than a modern dishwasher pretty quickly. Even if the dishwasher is only partially full, it's still probably more water-efficient to just run it rather than handwashing.

What to do instead

In terms of cutting your water bill, your landscaping is likely the biggest drain on your budget. Finding ways to make your garden more water-efficient will pay off far more than being stingy about your dishwasher usage.

Other simple habit changes such as shaving a few minutes off of your daily shower and turning the faucet off while brushing your teeth or washing your hands can also cut your water usage without significantly impacting quality of life.

5. DIY repairs that really should be done by a pro

I used to be guilty of this one. A couple of years ago, I got quotes to have my back door replaced. It was just a straight forward swap of the old door for a new door of the same size.

All the quotes were higher than I liked. I let YouTube convince me this was a perfectly reasonable DIY project even though I'd never so much as replaced a showerhead up to that point.

It was messy, tedious, harder than it looked and required buying a few power tools that I didn't have.

It also took the better part of a day when a pro could have been in and out in a couple of hours — and it still kind of creeks in a way that I should probably have someone come check out.

What to do instead

When comparing the cost of DIY to hiring a pro, factor in the added time and effort it will take you as an amateur.

Some people are very handy and could do a job like that just as well as the pros. I am not one of those people, and if you aren't either, the money you'll save isn't worth the stress you'll add to your life.

6. Keeping every jar, box or container you get

Yes, those glass pasta sauce jars feel too useful to toss out. Yes, they're great for storing leftovers. But at a certain point, you have to admit you don't need a cupboard piled high with hundreds of them.

This applies to all those random things that add clutter to your home because they just look too useful to throw away.

What to do instead

Save a few jars, and recycle the rest. Maybe consider rotating them out with new ones once in a while rather than continuously adding to your collection.

7. Depriving yourself of joy and comfort to save a couple of bucks

With a lot of frugal habits, the savings we're talking about are pennies or dollars. There are a few exceptions that lead to bigger savings.

If you're giving up your favorite shampoo to save a dollar every other month, that's only worth it if the replacement shampoo works for you. If you hate the scent or you don't like the way it dries out your hair, pay an extra dollar for the good stuff.

I meal prep because it means I don't have to cook every night. I hang dry most of my laundry because I don't mind doing it and it saves a bit on electricity. But once a week, I drive miles across town to buy single-origin, small batch roasted coffee from a local roaster.

I could probably buy a month of beans at Costco for what I pay for a weekly bag. But my fancy cup of joe each morning brings me joy. For someone else, hanging laundry might sound like torture, but they're just fine buying commercial grade coffee at a grocery store.

What to do instead

The balance between saving money and depriving yourself will be different for everyone. There are a lot of frugal habits that might be fine for some, but would make another person miserable.

Ultimately, you want to look for ways to be frugal in areas in which the cost-saving alternative doesn't significantly impact your quality of life. Then, use those savings to splurge in the areas where you'll appreciate the luxury.

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On average, consumers plan to spend $627.93 on gifts for family, friends and coworkers. The rest typically goes to seasonal extras like food, decorations and greeting cards. Between rising prices, wish lists and festive marketing everywhere you turn, it’s easy to go overboard.

But how much should you actually spend on holiday gifts? That number should depend less on national averages and more on your personal financial situation. Here’s how to set a gift-giving budget that won’t derail your financial goals.

Breaking down the holiday budget

When most people think “holiday budget,” they think “gifts.” But presents are just one piece of the spending pie.

Other common expenses include:

• Decorations: Tree trimmings, lights, candles and wreaths
• Travel: Flights, gas, lodging and pet boarding
• Entertaining: Food, drinks and party supplies
• Miscellaneous extras: Wrapping paper, postage, tips and spontaneous purchases

To create a budget that works, zoom out and look at the entire holiday season. Start with what you can afford to spend overall, then decide how much of that total should go toward gifts.

How to determine a realistic gift-spending number

There’s no universal number that works for everyone when it comes to holiday gift spending. While surveys and statistics might say the average person is spending $620 on gifts, your personal finances, not national averages, should drive your decision.

One popular method is to base your gift budget on a percentage of your annual or monthly income. For example, setting aside 1% to 1.5% of your annual income for holiday gifts is a reasonable starting point that keeps spending proportional to your financial picture.

Someone earning $70,000 a year might aim for around $700, but if you're juggling other financial goals or facing a tight season, it’s perfectly okay to spend far less.

Another approach is to use a zero-based budget and assign a specific dollar amount to each person you plan to shop for. Start with your overall holiday budget, subtract any known expenses like travel or decorations, and then divide what’s left among gift recipients.

Set up simple money rules for the holiday season

If you’re worried about overspending, try a cash-only or envelope system, where you withdraw a set amount of money and commit to not spending beyond it. This technique can be especially helpful in avoiding credit card debt during the busiest shopping season of the year.

When setting your gift budget, take time to reflect on your broader financial situation. Are you currently building up an emergency fund, tackling high-interest debt, or saving for a big purchase like a car or home?

Are you planning to travel or host events that will increase your overall holiday spending? Do you typically overspend during the holidays and regret it come January? Being honest about your habits and goals can help you create a spending plan that brings joy instead of stress.

Smart strategies to stay on budget without cutting joy

Holiday budgeting doesn’t mean you have to become a Scrooge. In fact, some of the most meaningful gifts and memorable traditions cost very little. If you're trying to stay within your budget, consider alternatives to the traditional everyone-gets-a-gift approach.

One effective strategy is to do a Secret Santa gift exchange among family or friends, where each person draws a name and buys just one gift. This dramatically reduces how much you spend without sacrificing the fun of giving.

Setting group gift caps is another budget-friendly move. Families or friend groups can agree on a limit, say, $25 or $50 per person, to keep things fair and affordable. You can also use credit card rewards, points or cashback to pay for gifts or gift cards, which can stretch your holiday dollars without tapping into your checking account.

If you’re shopping online, take advantage of price-tracking tools like CamelCamelCamel for Amazon or browser extensions like Honey and Rakuten to find the best deals and cashback offers.

When it makes sense to spend more and when to scale back

There are times when spending a little extra during the holidays is completely justified, and even worth prioritizing. If you’re celebrating a milestone year, like a child’s first Christmas, a wedding anniversary, or a rare family reunion, it may make sense to allocate a bigger portion of your budget to gifts or experiences that mark the occasion.

Similarly, if you’ve saved for the season all year and are on solid financial footing, allowing a little more room in your gift budget can enhance your holiday experience without causing financial harm.

On the other hand, it’s smart to pull back if you're in a tight spot. If you’re carrying credit card balances, don’t have an emergency fund, or your income is unpredictable, it's better to spend conservatively and communicate your intentions with loved ones.

Most people are more understanding than we give them credit for especially when you're transparent about focusing on your financial goals. Thoughtful gestures like homemade gifts, shared experiences, or even heartfelt cards can go a long way and often mean more than something expensive.

Your holiday budget should support your bigger financial goals

It’s easy to get swept up in the festive spirit and spend more than intended, especially when emotional pressure, advertising and social comparison come into play. But the reality is that holiday spending should always support your long-term financial health instead of sabotaging it.

Whether you’re saving for retirement, building a rainy-day fund or working toward a debt-free life, your holiday budget should reflect those goals.

Think of holiday spending as part of your overall financial plan, not something that happens in a vacuum. Overspending in December can create setbacks in January that take months to recover from. On the other hand, sticking to a realistic budget helps you ring in the new year with financial peace of mind. That means no guilt, no credit card surprises and no scramble to play catch-up.

So when it comes to your holiday spending, choose a number that aligns with your values, brings you joy and supports the future you're working toward. A thoughtful, balanced approach to holiday giving is the best gift you can give yourself.

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If your eyebrows furrow when your energy bill arrives, you're not alone. The average household energy bill jumped by 5.5% from last year, with some areas seeing double-digit spikes.

Why are prices rising so much? There are many reasons. The arms race surrounding the development of generative AI projects is expected to increase the production of energy-consuming data centers by 50% by 2027. That number could grow to 165% by 2030, according to Goldman Sachs.

Furthermore, we're encountering increased fuel costs, and energy companies are requesting rate hikes to maintain their aging infrastructure. Combined, it's a recipe that will continue to drive electric prices higher. Here's a look at the areas hardest hit by the spikes and ways you can keep your costs in line without sacrificing comfort.

Which areas had the highest electricity bill increases?

Using monthly EIA data from January 2024 to December 2025, the Joint Economic Committee Minority identified where electric bills are rising fastest. Here’s a look at the hardest-hit states:

When analyzing the states with the most significant electricity bill increases, the data points to several common factors driving costs higher.

Several states on the list, including Massachusetts, Maine, New York, New Jersey and Illinois, rely on older grid infrastructure that requires costly upgrades, and utility providers often pass those costs to consumers.

Some states depend on imported electricity, which exposes households to higher wholesale prices during periods of strong demand. Places like Washington D.C., which imports nearly all of its power, are especially vulnerable to these pricing shifts.

Other states, including Tennessee, Indiana and Kentucky, are experiencing rising demand due to population growth, expanding industry and increasingly extreme weather. Hot summers and cold winters strain local grids and increase household usage, which magnifies the effect of any rate increase.

Overall, the committee found that electric bills rose by 5.8%, with the average household paying an extra $100 per year.

How can I make my home more energy-efficient?

While there are many factors outside of your control when it comes to your energy rate, there are a few things you can do to ensure you're maximizing efficiency without sacrificing comfort. Before you make any adjustments, consider this.

Do you live in an area with deregulated electricity? If so, you have your choice of electric suppliers, where you can set up and lock in a fixed-rate plan for years. Doing this helps you keep costs down by preventing rate hikes from happening.

Meanwhile, if you're on a variable rate plan, your costs can change monthly, depending on pricing, energy load demand and other factors, which makes you more at the mercy of your provider.

Along with this, the following are some simple tips to help you lower your home's energy usage.

Give your home an energy check-up

A home energy audit is like a physical for your home. An energy auditor will inspect your home and suggest improvements to maximize its efficiency, such as sealing drafty doors, adding insulation or lowering the temperature on your water heater.

A home energy audit will run you at least several hundred dollars, depending on the size of your home, but implementing the changes can save you up to 30% on your energy bills, making it well worth the investment. Energy audits can also qualify for the Energy Efficient Home Improvement Credit; however, you must act fast, as it expires on December 31.

Where can you find home energy auditors? You can check with your local utility or contact your state's weatherization administrator. Once you find one, ask for references and check their reviews if available.

Improve your home's energy IQ

When we bought our home, it hadn't been updated much since the Golden Girls made their TV debut. As such, we replaced an outdated thermostat with a smart one. Doing that alone made a huge difference, as our bill lowered by $15 monthly.

Below are a few options you can find on Amazon:

What makes it such a convenient tool is that you can set the temperature more efficiently when you're not home, such as eight degrees cooler in the winter, so it doesn't tax your HVAC as much.

One thing to keep in mind with smart thermostats is that not all play well with internet routers.

You can check compatibility with manufacturers like Ecobee and Google Nest before making a purchase.

Bench underperforming appliances

Appliances wear with age and lose their peak effectiveness. As such, if you have a water heater that's 20 years old, it won't offer the same efficiency as a new model.

Replacing your old water heater with a tankless one is smart because tankless water heaters only heat water as needed. The U.S. Department of Energy notes that tankless water heaters can save you up to 34% on your energy costs.

You can double those savings with the Energy Efficient Home Improvement Credit. The credit provides homeowners with a 30% tax credit on project costs up to a $600 benefit. Again, you'll want to act fast, as the credit expires on December 31.

The takeaway on reducing your energy costs

Energy prices are rising nationwide, with some locales experiencing double-digit spikes. With increased demand in data centers, coupled with utilities requesting price hikes to maintain their infrastructure, these spikes are the new normal moving forward.

That's why it's imperative to be proactive in improving your home's energy efficiency. By doing some of these suggestions, you can avoid some of the price spikes and save hundreds of dollars per year, without sacrificing comfort.

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According to data from Northwestern Mutual, the average bonus came in at about 2.8% of total compensation. That means an employee earning $80,000 might receive roughly $2,240, while someone making $120,000 could see closer to $3,360. Whether your bonus is modest or substantial, that extra cash can make it easier to cover seasonal expenses like travel and holiday shopping.

But a bonus can do much more than help you get through December. Used wisely, it can fast-track your financial goals and still leave room for a little well-earned fun. Before you decide where that money goes, consider these four smart ways to put your year-end bonus to work.

1. Pay down your debts

Consider putting your bonus to work by paying down any debt you may have. Paying off a high-interest credit card or personal loan offers an immediate return, and getting rid of that debt can be freeing and empowering.

It’s easy for even small balances to grow into something harder to manage. According to Forbes Advisor’s credit card APR database, the average interest rate as of November is 25.32%, which is a steep cost if you carry a balance from month to month.

If you carry a balance, the high interest rates mean that less of your payments are going toward the principal balance on your card, so it takes longer to pay off your credit card debt.

Using the lump sum of your year-end bonus to pay off or pay down debt offers a guaranteed return. When you pay off debt, you’ll enjoy reduced stress and can put your money toward other priorities, rather than paying off credit card or loan interest.

2. Fortify your emergency fund

It’s also a great idea to use some of your year-end bonus to strengthen or top off your emergency fund. An emergency fund is key in helping you navigate unexpected expenses without having to take out debt and pay interest.

According to a study conducted by Empower, one in three Americans don’t have an emergency fund. Additionally, the median emergency fund for Americans is just $500, which won’t go far when you consider the cost of emergencies like medical issues, vehicle breakdowns or even job loss.

It's ideal to build up an emergency fund that covers three to six months of your living expenses. Adding your year-end bonus to your emergency savings can be a good way to quickly boost that fund, giving you greater peace of mind and security in case you face any unexpected events.

As you build up your emergency fund, consider putting those savings in a high-yield savings account. These accounts offer higher interest rates than traditional savings accounts, so your money can generate a bit of extra income for you.

Explore some of today's top savings offers with the tool below, powered by Bankrate:

3. Max out or add to your 401(k) and other retirement savings

You can also use your year-end bonus to max out or add to your retirement contributions. Investing for retirement can help give you more confidence and assurance. If you haven’t done so already, consider consulting with a financial advisor to determine the best investment strategies for your age, your personal situation and your retirement goals.

If you’re considering putting some of your bonus toward retirement, don’t wait too long. Contributing before the end of the year might have tax advantages. For example, contributing toward a 401(k) or traditional IRA is usually a pre-tax contribution, which lowers your taxable income, so you’ll pay less in taxes.

4. Have (a little) fun without guilt

You’ve worked hard for your year-end bonus, so don’t feel that you have to put all of it toward goals like paying off debt or boosting your emergency fund. You can absolutely set aside part of your bonus for some guilt-free fun spending.

You might want to designate part of your bonus as a “fun fund.” Take, say, 10% of your bonus and set it aside for enjoyable spending, whether that’s a dinner, trip or treat that aligns with your financial goals.

A little fun spending is important to a balanced approach to your overall money mindset. Financial wellness isn’t about deprivation, but is instead about strategic spending and saving. If you have put most of your bonus toward important financial priorities, be sure to reward yourself with something you enjoy.

Make your bonus work for you

A year-end bonus can do more than cover holiday expenses. When you use it with intention, it can strengthen your financial foundation, help you hit long-term goals and still leave room for something enjoyable. No matter the size of your bonus, putting it to work in smart ways now can create benefits that last well beyond the holiday season.

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Large employers expect health care costs for employee coverage to rise by a median 9% in 2026, according to the Business Group on Health. “This is the highest single-year forecast in more than a decade,” says Ellen Kelsay, BGH president and CEO.

Employers plan to pass along more of the increase to employees than they have in the past few years, and some are offering new kinds of plans with restricted provider networks as another way to manage their expenses.

The sticker shock will be even more intense for people who buy insurance on the ACA marketplace. When health insurance companies filed their proposed rates for 2026 with regulators over the summer, the median premium increase from 2025 was 18% — the largest rate change insurers have requested since 2018, according to an analysis by KFF, a health care research organization.

And that’s just part of the picture for marketplace plans. If you’ve qualified for a premium subsidy to reduce costs based on your income in recent years, that may change: The enhanced premium tax credits that enlarged the subsidies starting in 2021 are set to expire at the end of 2025, unless Congress makes a last-minute change.

If they are not extended, the subsidies will shrink for people earning less than 400% of the federal poverty level; for 2026 plans, 400% of the poverty level is $62,600 for singles and $84,600 for couples in most states. People earning more than that won’t receive a subsidy.

Despite these developments, you still have solid strategies at your disposal to make smart health care decisions and manage the costs during open enrollment. Here’s what to expect when assessing your plan options this fall.

New employer-plan options

The BGH study’s 9% projected increase in health care costs is driven primarily by the rising price of pharmaceuticals, the growing popularity of obesity treatments (especially GLP-1 medications, such as Ozempic), an increase in cancer diagnoses, and higher usage of mental health services, which many employers have expanded in the past few years.

The employers who responded to the survey expect to moderate the increase to a median of 7.6% by tweaking the design of their health plans, including some changes that affect employees’ options and costs. The plans may limit or reduce coverage for GLP-1 medications and require prior authorization for more procedures and services before they provide coverage.

Employers may also pass along a larger share of the cost increase to employees than they have over the past few years, through higher premiums, deductibles and co-payments. The median estimate of employee contributions to annual premiums is rising from $2,983 to $3,251 per employee in 2026 (including both single and family coverage), and the median yearly out-of-pocket cost for employees is increasing from $1,825 to $2,224, according to the BGH study.

But a growing number of employers are also looking for alternatives to increasing deductibles, recognizing that high deductibles can cause people to avoid seeking care, leading to more expensive medical issues in the future.

More than one-third of the plans surveyed by Mercer, a human resources and employee benefits consulting firm, expect to offer a medical plan with no deductible or a low deductible, and 12% expect to offer at least one plan with no premiums for employees.

Some employers hope to reduce costs by offering plans with incentives for employees to use certain providers that offer high-quality and cost-efficient services. So you may see plans with new types of provider networks on the menu.

For example, if your plan includes a “high-performance network,” you may have lower deductibles and co-payments when you use certain providers than you do when you visit the rest of the providers in your plan’s standard network. A high-performance network is “generally like a PPO, but it’s a more curated network,” says Tracy Watts, senior partner at Mercer.

With these plans, you may be able to use out-of-network providers, but with higher costs for you, as is typical with a PPO (preferred provider organization). Another version of these high-performance network plans, called EPO (exclusive provider organization) plans, restricts coverage to in-network providers only.

As another option, some employers are offering “variable co-pay plans” that have no deductible and provide a range of co-payments that vary by provider, which the employees see up front. “The idea is you’re getting somebody to do their homework before they call the doctor,” says Watts.

You may also be able to use centers of excellence, which are hospitals that may be outside your area but specialize in certain conditions. More than half the companies surveyed by BGH plan to include centers of excellence in their networks in 2026 for bariatric surgery, musculoskeletal conditions, fertility treatments, or cancer. Centers of excellence are more commonly included in large-employer plans than those from smaller employers.

Employers and their health plans have also been beefing up navigator programs. Health care navigators can help you learn about your care options if you’re diagnosed with a medical condition and find in-network providers in your area. Navigators may let you know whether your plan offers a center of excellence for your condition or whether you may be eligible to participate in a clinical trial, says Watts. They can provide information about other programs the employer offers, too, such as employee assistance programs, which provide a growing number of in-person and online counseling options and other benefits.

Strategies for workers

Because of the increasing costs and changes to employer health insurance, it’s worth making an extra effort to review all your choices during open enrollment this year. The following steps can help.

Make the most of each spouse’s benefits. If both you and your spouse have coverage at work, compare the options. “Don’t assume that if you work for a bigger company, your family should all go on your plan,” says Watts. It may make sense to stay on your own company’s plan, but have your children on your spouse’s plan. Or you could get medical coverage through your plan, but dental and vision coverage through your spouse’s employer.

Do the math. Add up premiums plus the costs for the care and prescription drugs you and your family need regularly under the plans offered by your employers. Also check coverage if you were to get a serious diagnosis, such as cancer or a condition that requires major surgery, so you’ll understand how your medical care may be covered under each plan, says Watts. If you choose a high-deductible health insurance policy paired with a health savings account and the employer contributes money to the HSA on your behalf, subtract that amount from the potential costs.

Contribute to an HSA if you do choose a high-deductible policy. Many employers seed HSAs for employees with eligible health plans or match their contributions. To qualify for an HSA in 2026, your policy must have a deductible of at least $1,700 for single coverage or $3,400 for family coverage. You’ll be able to contribute up to $4,400 in 2026 if you have self-only coverage or $8,750 for family coverage, plus an extra $1,000 if you’re 55 or older.

Learn about new network options, which may be a way to reduce your costs. If you don’t have a strong relationship with any doctors, or if your current doctors happen to be in the network, making use of a plan that offers a preferred network could help you save money on premiums without paying a high deductible, says Watts. Find out whether the plan will cover out-of-network providers with higher cost-sharing or if it will cover only in-network providers.

Check how the plans will cover your medications, especially if you need expensive maintenance drugs. Some plans are altering their formularies, which specify whether a drug is covered and what your co-pay would be, says Watts. Even if the plan includes your drug, you may need to meet prior-authorization requirements before the insurer will cover it for you. Don’t assume your drugs will continue to be covered the way they had been in the past.

Take advantage of extra benefits. For example, employers are making their wellness programs more attractive to many employees. Employers may give you a few hundred dollars each quarter for a gym membership, for example, rather than require you to complete a complicated health assessment. Employers may also offer more mental health benefits and other programs, both in-person and remotely, such as virtual physical therapy.

Choosing a marketplace plan

If you buy insurance on the Affordable Care Act marketplace — either at HealthCare.gov or your state’s marketplace — you may see a particularly large jump in costs. The increase in premiums might not be quite as high as 18% by the time rates are finalized.

“But this gives us a really good signal of what insurers are thinking of the current state of the individual market and how health costs will change,” says Matt McGough, policy analyst in KFF’s program on the Affordable Care Act.

Final rates are available on HealthCare.gov starting the week before open enrollment begins, on November 1. Open enrollment for 2026 plans ends on January 15. (The time frame for open enrollment will be shorter, starting with 2027 plans.) Some states have different time frames.

The increases are due in part to rising health care costs, but they’re also fueled by uncertainty about what will happen to the enhanced premium tax credits.

"Last year, we saw record insurer participation,” says McGough. "Consumers had more choice than ever when it came to selecting a plan on the marketplace. But partially due to the uncertainty, a lot of insurers are pulling out because it might not be as profitable anymore."

Some insurers are worried that if the enhanced subsidies expire, some healthier people will choose not to get a marketplace plan, which could leave the pool of insured individuals sicker and more expensive for insurers to cover.

"Insurers are going to try to protect themselves from what might be a sicker group of people,” says Sara Collins, senior scholar for health care coverage and access with the Commonwealth Fund, a health care research organization. If the insured people are less healthy overall, the costs go up for everyone — even those who are free of medical conditions.

Aetna, which had sold marketplace plans in 17 states, is leaving the ACA marketplace in 2026. Two large plans in Colorado announced in late August that they would exit the individual market. But regardless of whether the insurer that provides your current plan is sticking with the marketplace, it’s a good idea to shop around.

Your options will be based on where you live and whether you qualify for a premium subsidy. It’s important to look not only at the plan’s sticker price but also at your after-subsidy premiums and potential out-of-pocket costs.

"The amount you pay depends on your income and the plan you choose,” says Cheryl Fish-Parcham, director of private coverage at Families USA, a consumer health care advocacy organization.

“Don’t assume that what another person pays is what you’re going to pay," said Fish-Parcham. Look at the plan choices, and make sure you’ve updated your income figures when shopping for a marketplace plan.”

To help estimate your premiums and possible subsidies, you can use the calculator at kff.org/interactive/subsidy-calculator. (KFF plans to update the tool for 2026 plans before open enrollment starts.)

Plans on the exchange are separated into bronze, silver, gold and platinum categories. Bronze policies generally offer the highest deductibles and lowest premiums; platinum policies provide the most robust coverage in exchange for higher premiums; and silver and gold policies fall in the middle.

Platinum plans aren’t available in most states, so you’ll likely be choosing among the other options. If you have a silver or gold plan now, you may be able to reduce your premiums by switching to a bronze-level plan — but be prepared to pay more for the deductible and cost-sharing. Make sure you understand the types of care that aren’t subject to the deductible, such as a lot of preventive care.

One important benefit to buying an ACA marketplace policy rather than going without insurance: All marketplace plans cap your maximum out-of-pocket costs for the year. In 2026, the cap will be $10,600 for individual plans and $21,200 for family plans. That limit protects you against the risk of incurring massive bills should you end up needing expensive health care.

A helpful development from the One Big Beautiful Bill Act (OBBBA), which the president signed into law in July, is that all bronze-level plans will be eligible for health savings accounts starting in the 2026 plan year.

Make the most of an HSA to build up tax-free savings, which can help you pay out-of-pocket health care costs now or in the future. Contributing to an HSA also reduces your modified adjusted gross income, which could help you qualify for a premium subsidy.

If your income is less than 250% of the federal poverty level (which will be $39,125 for singles and $52,875 for couples for 2026 plans), you can also qualify for a special subsidy that reduces your deductible and co-payments if you buy a silver-level plan, which could be a better deal for you than a bronze plan.

Understand how the network works. Is it a PPO that lets you use both in-network doctors and out-of-network doctors, but with higher co-pays, or is it an HMO that covers only in-network doctors? Find out whether your providers will continue to be in-network. Also, check the plan’s formulary to see how it will cover your medications.

Fish-Parcham recommends getting assistance from a helper or navigator in your area; you can find one through HealthCare.gov or your state marketplace. The federal government has cut back on funding to support these helpers. In case they’re stretched thin, it’s best to get started early so you have time to work with them.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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With the Mint Mobile 55+ plan, you can get unlimited talk and text and 5 gigabytes (GB) of data for just $15 per month. The plan runs on T-Mobile’s nationwide network and offers key benefits such as free scam protection and international calling.

Before you sign up, we’ll help you review your phone habits and data usage and walk you through the details so you can decide if the Mint Mobile 55+ plan fits your needs.

How the Mint Mobile 55+ plan works

The Mint Mobile 55+ plan at a glance. It includes:

• Unlimited talk and text
• 5 GB data on the T‑Mobile U.S. network (4G/5G) from Mint Mobile
• Free international calling to the U.K.
• Free roaming in Canada
• Free scam protection
• Option to bring your own compatible, unlocked phone to Mint
• Option to bring your own number

Mint Mobile offers this plan for $15 per month, but you’ll need to meet certain requirements to qualify for and retain that price.

Key terms and caveats

To qualify for the plan, you must be age 55 or older. Additionally, new activation is required, and you’ll need to pay $45 upfront to cover the first three months of your plan. Taxes and fees are extra.

After your first three months are up, you will need to commit to a 12-month Mint Mobile plan to keep the $15-per-month pricing. Because Mint is prepaid, you’ll pay the full 12-month cost upfront at the equivalent of $15 per month, or $180, with taxes and fees extra.

While the plan includes free talk and text, data usage is capped at 5 GB per month. If you exceed the limit, your speeds could be throttled for the rest of the month, which will make using the internet slow and frustrating.

Mint Mobile offers an online screening tool that can help you determine which data usage plan is right for you.

You’ll also want to consider where you’ll be using your phone, since coverage and speed might vary based on your location.

Mint Mobile operates as a mobile virtual network operator (MVNO), which means it uses another mobile provider’s network. Mint Mobile uses the T-Mobile network, so your calls will be sent to T-Mobile cell phone towers. You might experience varying coverage and speed, particularly in rural areas.

Why this deal is notable for seniors

The Mint Mobile seniors' cellphone plan offers several appealing perks. The $15-per-month rate is low compared with many senior-targeted plans from major carriers. It’s also a relatively simple plan. There’s no multiline bundle requirement and no long-term contract beyond the prepaid term that you choose.

This plan could be a solid choice for seniors who use a moderate amount of data each month. The unlimited talk and text feature means you can communicate freely without worrying about being charged if you exceed your plan’s limits.

Mint Mobile doesn’t have brick-and-mortar stores that you can go to for help, so this plan is best for seniors who are comfortable with online billing and setup. If you need assistance, Mint Mobile has a help center library of videos and guides, plus you can call and receive help over the phone.

When the deal might not be the best fit

While this seniors’ cellphone plan is ideal for certain users, it’s not best for everyone. If you frequently use your phone to stream media, perform video calls or make large downloads, you might use significantly more than 5 GB of data per month. This plan’s 5 GB cap might feel restrictive, especially if you run out of data partway through the month.

If you prefer in-store support, Mint Mobile probably isn’t for you. The online-only structure might leave you feeling frustrated.

While the plan includes free roaming in Canada, it’s not ideal for travelers who often go overseas. If you frequently travel internationally, you might find that more premium carrier plans for international travel might offer better perks and save you money in the end.

How it stacks up to alternatives

As long as you don’t need significant data, the Mint Mobile plan is the most affordable option for age 55 and above when compared with other top carriers.

The T-Mobile Essentials Choice plan for 55-plus costs $45 per month for one phone line. It includes unlimited talk and text, but it also includes 50 GB of data, which is significantly more than the Mint Mobile plan offers.

The AT&T 55+ plan is a bit more affordable, but is designed for two lines. It costs $35 per month, per line, and includes unlimited talk, text and data in the United States, Canada and Mexico. This plan might be the best option for seniors who use significant amounts of data and need multiple lines.

Consumer Cellular also offers unlimited talk, text and data. For two lines, you’ll pay $55 per month total, or $27.50 per line. This plan is more affordable than the AT&T plan, but you’ll need to be an AARP member to qualify.

Sign-up tips for seniors

Before you sign up for Mint Mobile, follow these steps to ensure a smooth transition:

• Check your phone compatibility. Make sure that your device is unlocked and compatible with your new mobile network. Mint Mobile’s phone compatibility page provides more information on determining if your phone will work.
• Verify that there’s coverage in the areas where you’ll use your phone. You can check this using the Mint Mobile coverage map, as well as the T-Mobile network map.
• Read the full terms. Study the contract and understand the upfront cost, renewal process, data cap and hot spot policy.
• Keep your old account active. If you’re transferring your old number, keep your old account active until porting is complete.
• Use Mint’s support. Mint’s MINTech Advisors are wireless experts who can guide you through problems you might have with your phone. For $15 per year, you can get access to these experts, which is valuable since Mint doesn’t have brick-and-mortar stores where you can for help.

Is Mint's 55+ plan for you?

If you’re 55 or older, use moderate data and want a very low-cost wireless plan, the Mint Mobile 55+ is a great choice. At $15 per month, it offers excellent value and can be an affordable way to stay connected and save on your cellphone plan.

That said, the plan has some downsides. Data limits, online-only service and a required upfront payment mean it’s not the right choice for everyone. It’s also important to consider your usage, location and willingness to manage setting up the new account on your own before you commit.

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Why? Holiday gatherings bring their share of increased risks. The National Fire Protection Association reported a nearly 400% increase in house fires during Thanksgiving. Add in inclement weather, guests visiting, porch pirates and other risks, and you have a busy season for insurance companies.

As such, taking some time to peril-proof your home can make your holidays safer and memorable, without needing to call your insurance company. Here are some common hazards to look out for, along with what your home insurance covers.

If an accident happens, what does my home insurance cover?

Before exploring the perils, let's begin with what a basic home insurance policy typically covers. If your home catches on fire due to an electrical or cooking issue, your home insurance usually covers the claim once you satisfy the deductible.

The same also applies to guests who incur injury on your premises. This is under the personal liability coverage and can protect you financially from any medical or legal bills incurred from the accident.

However, you'll want to investigate your policy to ensure you have enough liability coverage. The reason? Should a guest suffer an injury in your home and the court awards a judgment higher than what your policy pays out, you would be on the hook for the rest. If you're concerned about gaps in your policy, an umbrella insurance policy can help by providing additional liability coverage to cover those extra costs.

This time of year marks a smart time to reevaluate your insurance coverage and make sure you're not overpaying. Use this Bankrate tool to shop for and compare options quickly before we move on to perils:

Holiday light decoration safety tips

Lights are an integral part of the holidays. Whether you're setting out a few strands or going all out with them, ensure that your holiday lights have the Underwriters Laboratory (UL) seal, as that indicates the product has undergone rigorous testing.

If you have lights from last year you plan to use, check the cords for signs of fraying or loose connections, since these could pose fire or electric shock risks. Also, check your circuits before installation to ensure they can handle the power demand; for modern 15-amp circuits, it's 1,440 watts worth of lights, depending on bulb type.

Furthermore, where you place your lights is of paramount importance. Tie up loose wires to prevent tripping hazards if you have children who want to play in the yard or home. And if you're using a ladder to decorate, implement the buddy system, as it ensures the ladder is in the correct position and stable before installation.

As for candles, place them on a heat-resistant surface that's at least a foot from any fire hazards. As welcoming as the glow of candlelight can be in a window, only do so if the window treatments or blinds are up and away at a safe distance. And monitor lit candles at all times, as kids and pets could easily knock them off.

Christmas trees: Location and care matter

For Christmas trees, you'll want to set them up in a low-traffic area. This prevents guests from tripping on decorations or gifts, which could result in an injury and prompt a call to your insurance company (or, well, ruin a present you worked hard to get).

Plan to have a real tree in your home this holiday season? This Old House recommends spraying it with a mold-resistant sealant to prevent mold spores from triggering allergic reactions.

If you have pets, namely cats, keep the first few lower branches of your tree undecorated unless you want them to treat your decorations like piñatas. Once knocked off the tree, these decorations create tripping hazards — or worse, if they're made out of glass. Dog owners should regularly inspect around your tree and pick up any items before they end up in your friend's tummy, necessitating a very high vet bill.

Create a holiday meal your insurance company can't feast on

Cooking is an integral part of the holiday season for many households. I spent frenzied evenings making Christmas cookies or warming up a pie as the family jostled around the table discussing matters of world importance.

It might sound overly cautious, but cooking can represent an elevated risk around the holidays. Fires from deep-fried turkeys gone wrong, as well as scalding and lacerations, top the list of common holiday injuries.

Here are a few tips to keep you and your guests safe:

• Keep small children out of the cooking zones unless carefully supervised
• Make sure flammable objects such as oven mitts, alcohol and dish towels are away from flammable areas
• Clean the floor and inspect it regularly for any tripping hazards
• Never leave your kitchen unattended while food cooks
• Keep fire extinguishers on hand

Beware of slips, falls and pirates (not the cool kind)

When the weather becomes cold, it can transform your sidewalk and driveway into an unexpected skating rink for your guests. Before guests arrive, shovel any remaining snow and treat frozen areas with traction aids, like cat litter or sand.

Speaking of the front of your home, it becomes quite busy during the holiday season. Along with guests, chances are your Amazon Prime driver or Walmart+ delivery person becomes a frequent visitor.

As they do, they attract another crowd: Porch pirates. Porch pirates thrive at this time of year, looking for easy crimes of opportunity. If your packages are stolen, your home insurance policy will cover these items. However, depending on your deductible, it might not make sense to pay $500 to replace an item worth $100.

Therefore, you'll want to secure your packages. How? You can schedule your packages to arrive at an Amazon drop-off location, use a porch lock box, or, if you're buying from Amazon, opt for the Key In-Garage Delivery, which authorizes an Amazon driver to leave your packages in your garage.

The bottom line on preparing for holiday perils

The holidays are right around the corner. As such, preparing your home now should involve being mindful of common perils to protect you and your guests.

What's more, this time of the year is the perfect time to ensure you have the right financial protection. That way, if the unthinkable happens, you have peace of mind knowing your assets are protected.

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Now is an important time for savers to shop around. The Federal Reserve cut rates twice, and it may cut them again when it meets in December. As such, choosing the right account can help you stay on course for achieving your savings goals even with diminishing returns.

With this in mind, two options to consider have some commonalities. I'll compare how high-yield savings accounts and no-penalty CDs are similar, highlight the difference between the two and which one works best for your savings goals.

How does a no-penalty CD work?

Normally, when you open a CD, you pledge to keep the money in the account for a specified time period. But what happens if you need your money before the term matures? You could be on the hook for months of earned interest, depending on your CD term.

If you're worried about tying up your cash, one solution is a no-penalty CD. A no-penalty CD comes with terms ranging from six months to a year. However, unlike a regular CD, with a no-penalty CD, you can withdraw money once you reach the initial vesting period — normally, one week to a month.

Most importantly, no-penalty CDs come with a fixed interest rate, and many banks offer FDIC insurance to protect your investment further. If the Fed continues cutting rates, it won't impact you. The rate you lock in now is the rate you'll receive through your term.

Use the tool below to shop and compare CD rates quickly, powered by Bankrate:

Is a no-penalty CD a smart move for you?

I generally recommend no-penalty CDs to savers who already feel confident in their emergency fund. A standard emergency fund typically covers three to six months of expenses, but aiming for closer to a year gives you more breathing room if a job loss or unexpected setback occurs.

The reason comes down to maximizing your earnings. When you open a no-penalty CD, you lock in a fixed interest rate for the full term. However, if you end up withdrawing the money soon after opening the account, the CD will close, and those funds are no longer earning that fixed rate.

If the Fed cuts rates again and you move that money back into a high-yield savings account, you may end up with a lower APY than what you originally locked in. In that case, you miss out on the long-term benefit of securing a higher rate today.

Another thing to keep in mind about no-penalty CDs is that each bank treats them differently. Some will allow you to withdraw the entire amount once you reach your vesting period, while others permit one withdrawal per month. Therefore, they work best for established savers who want to grow some of their earnings with minimal risk.

Do you want an account recommendation? Climate First Bank offers a six-month no-penalty CD earning 4.34% APY.

Are high-yield savings accounts still a wise option?

I believe they are. I've been reviewing rates weekly on all savings accounts and have been surprised to find that some of the top accounts haven't issued rate drops. To demonstrate, Newtek Bank offers a high-yield account with a 4.35% APY. This rate has remained the same for the past few months, allowing savers to capitalize on higher returns for longer than other banks.

HYSAs are excellent savings vehicles for savers with short-term goals (think three months or less). If you're looking to earn some money for a few months to fund a project or a vacation, they're a great option to consider.

Many online banks offer them with no account fees or minimums and FDIC Insurance, making this an exceptional choice for short-term saving goals or for those looking to grow their emergency fund.

You can quickly compare some of today's best savings offers using this Bankrate tool:

Of course, there's something you must consider with high-yield savings accounts: They come with variable interest rates.

It means that if the Fed cuts rates again, your APY will dip. However, given that it takes some banks months to respond to Fed policy, you can still maximize higher rates if you act quickly.

Here's a breakdown of different scenarios and which of these two accounts works best in each:

The bottom line on high-yield savings vs no-penalty CD

For savers with shorter-term goals or needing to build an emergency fund, a high-yield savings account remains a wise option, as you'll earn an APY that outpaces inflation. You can also use them for any funds that require immediate liquidity.

Meanwhile, if you're an established saver who's looking for a slightly longer-term option, a no-penalty CD works the best. It offers a fixed interest rate, allowing you to lock in a rate now before the Fed cuts diminish it further.

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Maybe not.

Sometimes, all that diligent saving can actually cause more financial harm than good, particularly when you’ve already hit your retirement savings targets.

What could go wrong with saving too much for retirement, you may wonder? From taxes to death, read on to find out.

1. Saving too much can trigger a taxable event

Saving for retirement isn’t bad, but putting all your money in a traditional 401(k) or IRA is a different story, and you can blame taxes for that.

When you withdraw money from a 401(k) or IRA in retirement, you pay taxes. Depending on your income bracket, it may be a little or a lot.

Once you reach age 73, it gets a little more interesting because that’s when RMDs kick in. You have to take them every year — the IRS wants to get paid — and they are treated as ordinary income and are taxed as such. Depending on how much you have in your 401(k) or IRA, it could trigger a big taxable event.

Dan Sudit, founding partner at Crewe Advisors, pointed to one client in his 80s who, along with his wife, saved $14 million in an IRA and was required to take about $600,000 in RMDs per year. That, coupled with Social Security and capital gains from other investments, pushed their annual income to over $1 million, even though their spending was a fraction of that.

”They’re paying top-tier taxes and their Medicare contributions are significant, simply because they did what they were told to do, save for retirement,” said Sudit.

Luckily, Sudit’s clients are philanthropically inclined and have been making qualified charitable contributions, which offset some of their tax burden.

What you can do
A little planning goes a long way.

Sudit has another client who has $7 million in her traditional 401(k). To avoid paying taxes on all of her RMDs, Sudit converted $2.5 million of her 401(k) into a Roth IRA, which doesn’t have RMDs, in a low tax year before turning 73.

To learn more about how a Roth conversion works, check out our guide here.

2. Saving too much can stop you from living

Saving can be intoxicating. Watching the balance grow and compound can make you want to save more. It could also cause you to think twice before you spend, if it means you can funnel more money into your retirement savings account or draw down less when you are in retirement.

But continuing to save could be harmful if it means you miss out on life. “If you saved enough to sustain your lifestyle in retirement, then you have the opportunity to spend,” said Chelse Stevens, vice president & financial consultant at Fidelity Investments. Think of it as more of a permission to spend if you are still reluctant.

What you can do
How you spend money makes a difference. Some people take lavish trips. Some remodel their homes to make them more retirement-friendly. For others, spending could be as simple as dining out more often.

Maybe you'd like to assist your family financially, such as helping your grandchildren with college costs or adult children with the down payment for a home. Or you might want to take the extended family on a once-in-a-lifetime cruise or other vacation. The idea is to create memories while you're healthy and well instead of continuing to save indefinitely. If you wait too long to pursue experiences, you risk losing the chance to have them entirely.

Not sure how to spend all your cash in retirement? Check out our 'Die With Zero' Rule to get some guidance on how.

3. Saving too much means your money might outlive you

There is a high likelihood that many of us will live into our late 80s, but that doesn’t mean we'll spend with abandon til then.

Typically, spending slows as you age, which means that if you keep on saving, your money could outlive you.

Consider this: According to a JPMorgan calculation, a 65-year-old retiring today, who made $300,000 a year, would need to save $2.67 million for 35 years in retirement. You can see how your money can outlive you, depending on how much you have saved.

What you can do
Giving with “warm hands” is one option, says Stevens.

Instead of waiting until you pass to donate to charity, give while you are alive so you can see the impact of your generosity. Wouldn’t it be great to give money to help cure a disease and see that come to fruition, or to feed families in a local community? By donating with "warm hands," you get that chance.

Save in the right place

Continuing to save in a 401(K) or IRA may not be a tax-smart way to go, but that doesn’t mean you can’t save. If it's in your nature, you're going to save no matter what. If that’s the case, it comes down to where and why you're saving that matters.

If you haven’t been giving your health care much thought and have a high-deductible health insurance plan, a Health Savings Account (HSA) may be worth opening. If you were planning to start a new business and need access to capital, saving in a brokerage account may be a more tax advantageous move.

“You can’t save too much," says Stevens. "Things can come up in retirement — Health care and unexpected expenses. It's a matter of saving in the right place."

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A recent Wells Fargo survey found that 71% of parents who have children between the ages of 5 and 17 give them an allowance, averaging $37 a week. However, about half of parents who responded to the survey struggle to discuss money in a way their children will understand.

Offering your kids an allowance can be a great way to teach them financial responsibility and introduce conversations about spending and saving money.

If you have kids at home, consider these ideas to set an allowance strategy.

Establish guidelines for earning it

A key decision is whether you will link your child’s allowance to household chores or other tasks, which can help kids understand the relationship between money and work.

Some parents feel that everyday chores, such as making the bed or washing the dishes, are part of a child’s responsibilities as a family member and shouldn’t come with a financial reward. Alternatively, you could pay your child for performing tasks that go beyond daily expectations.

Kate Hamilton, entrepreneur and author of The Imperfect Parent, suggests that starting at the age of 5, your children could take on extra weekly tasks, such as raking leaves in the yard. To help kids learn about how they would be compensated in the workplace, she says that you could offer them a fixed rate for performing tasks — say, $10 an hour for two hours of doing laundry and washing your car.

William Stern, 45, and his wife, Eunjin, 43, also believe in an “earned allowance” system for their three sons, Solomon Amschel, 11, Sidney Arthur, 8, and Sebastian Asher, 5.

Rather than provide a set dollar amount, the Sterns, of San Diego, pay the boys a weekly allowance that varies depending on the tasks they complete outside their usual chores. They may, for example, get $20 for performing acts of service, such as picking up trash in their neighborhood.

The Sterns believe this method will help their children make the connection between putting in extra effort and earning money.

Decide on rules for spending and saving

You’ll also need to determine whether you’ll set parameters around how your kids can use their allowance.

By working with them to devise a breakdown of how they’ll allocate their money, you can impart valuable lessons on setting a budget and sticking to it. And if they save a portion of their allowance, they’ll learn firsthand the satisfaction that comes with setting a goal for a future purchase and reaching it.

Hamilton suggests having your kids divide their allowance into money to spend, money to save and money to share. They could, for example, spend 60% as they see fit, stash away 30% in a savings account, and share 10% by donating it to a charitable cause or to their house of worship.

Otherwise, you could give your kids free rein, which can help them learn about the consequences of their financial decisions while the stakes are low. If they use all their weekly allowance on video games, for example, they may have nothing left to spend during an outing with friends.

The Sterns use this strategy, letting their sons spend their allowance as they wish. If the boys run out of money, they don’t get more until their next allowance payment.

Choose a payment method

Along with setting ground rules on how your children may earn or spend their allowance, you’ll also need to determine how you will pay them. Especially for kids younger than 10, Hamilton recommends providing cash because it’s tangible; they can easily see where their money goes, and they can’t overspend it.

As kids reach their teenage years, you might introduce payments via a peer-to-peer payment service, a bank account or debit card so they can learn about managing money with these electronic methods. P2P services, such as Apple Cash and Venmo, are becoming more popular, with about one-fourth of parents paying their kids an allowance this way, according to the Wells Fargo survey. If your child uses a P2P app, make sure they understand how to avoid scams, sending money only to people they know and trust.

If you’d rather stick with a bank and you have a qualifying Chase checking account, your child can use the Chase First Banking debit card, which is available to kids ages 6 to 17 and has no monthly fee. You can set up regular allowance transfers to the card, establish savings goals and even assign recurring chores, paying your child for them once they’re complete. You can also set limits on where and how much your child can spend, as well as monitor their activity.

Another option is the Capital One MONEY Teen Checking account, which is aimed at kids 8 and older and has no monthly fee or minimum balance requirement. If you don’t have your own account at Capital One, you can link your checking account from another bank to the MONEY account. As with the Chase debit card, you can schedule recurring deposits into your child’s account and use parental controls to track your kid’s spending.

Some financial-technology companies offer mobile apps, such as Greenlight (greenlight.com), BusyKid (busykid.com) and Acorns Early (acorns.com/early), that are connected to a debit card and focus on money management for kids.

Like the options above from large banks, these services let you keep an eye on your kids’ transactions, and they may come with extra features, too, such as tools to help distribute allowances among multiple children. But you’ll pay a fee for the convenience. Greenlight charges fees starting at $6 a month, BusyKid is $4 monthly, and Acorns Early charges $5 a month per child, or $10 a month for families with up to four children.

Let it evolve

As your children grow up, you can use their allowance as an opportunity to discuss more complex financial concepts. For example, if you increase the amount they receive each year, you can explain how inflation works, demonstrating to your teenager that a dollar they receive now won’t stretch as far as it did when they were in kindergarten.

Once your child is old enough to get a part-time job after school or on the weekends, it may be time to reassess how much they will receive for an allowance — or whether they should still get an allowance at all. If your teen has a regular babysitting gig or serves food a few times a week at a restaurant, you may choose to let their income from work replace the allowance.

Other families may prefer to keep paying an allowance until their kids are on their own. The Sterns believe that their children should focus on their education rather than take on part-time work, and they plan to give their sons an allowance until they enter college.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Answer: My first suggestion would be to invest it in an index fund since they offer historically higher returns than savings accounts. However, if you're concerned about market volatility, there are a few other solutions that would work best for you.

Depending on your savings goals, a high-yield savings account or finding the best CD rates are smart options to consider for large deposits of $50,000 or more.

Each approach helps you earn returns that outpace inflation while eliminating risk. I'll show you these scenarios to consider, depending on your investing or savings profile.

Scenario 1: I don't mind a little risk if there's a chance of a higher reward

I recommend investing in the stock market through an index fund, in the vehicle of an exchange-traded fund (ETF) or mutual fund, if you want high returns and are OK with some risk.

The advantage is diversification. If you choose an index fund that tracks the S&P 500, for example, that fund would hold the approximately 500 biggest U.S. stocks, rather than putting all your eggs in one company's basket. Index funds also have lower or no fees since they're passively managed.

There are a few considerations before diving in. First is that your return is not guaranteed. If the index performs poorly, your returns will decline, as well. As a point of reference, the S&P 500 has historically averaged about a 10% annual return.

The bigger concerns, though, revolve around timing. That 10% return is an average, meaning some years it's higher and some years it's lower or even negative. If you find yourself needing to use this money in a bad time for the market, you'll lose out on returns.

The other timing issue is the capital gains tax, which you'll have to pay on what you earned when you sell your holding: If you hold the index fund for less than a year before selling it, you'll be subject to short-term capital gains rates, which are higher.

Altogether, this means you should think carefully about whether you're OK with tying up this inheritance money for at least a year. If you're not sure, consider one of the other scenarios.

However, if you're willing to take some risk to maximize returns and are sure you'll hold the investment for more than a year, this would be a wise option.

Scenario 2: I want to park the cash and forget about it

If you're already on course to achieve your retirement goals, and you have a healthy amount in your emergency fund (at least six months of expenses), there's no reason to go with anything but a long-term CD.

While it's likely CDs won't earn you the same return as a low-risk ETF or other investment vehicle, they're lower-risk solutions for savers wanting to keep all their money. Now is the best time to lock one in, as rates are subject to change soon.

The Federal Reserve issued its second rate cut of the year at its meeting last week. Because it takes banks some time to adjust their rates, you can still find five-year CDs with rates higher than 4%.

Use this Bankrate tool to compare and find your best option quickly:

What happens if you need the cash before the CD matures? You'll pay a significant early withdrawal fee. On a five-year CD, your penalties could be anywhere from six months to one year of earned interest, equating to hundreds of dollars lost. Only do this approach if it works for your cash flow.

Recommended account. SchoolFirst Federal Credit Union has a five-year CD with a 4.15% APY. You'll make $11,272.61 in earned interest with a $50,000 deposit if you lock it in today.

Scenario 3: I want to earn a higher rate with cash flexibility

In an uncertain economy, it makes sense to prioritize flexibility. Inflation could continue to climb in 2026, and if the Fed continues to cut rates, eventually we'll reach the point at which you're not earning enough on your savings to stay ahead.

This is why I recommend a no-penalty CD. As its name implies, you'll have the flexibility to access your cash as you need it without the harsh fees. You'll need to keep your cash in for a week to a month at the start. You'll also want to pay attention to account terms, as some banks allow you to withdraw all of it after you reach the initial vesting period, while others allow one withdrawal per month.

The benefit of this approach is that you can earn a higher rate of return that'll outpace inflation. With terms between six months to a year, you'll have quick access back to your cash as well.

Recommended account. Climate First Bank offers a six-month no-penalty CD with a 4.34% APY, where you'll earn $1,073.48 in interest.

Scenario 4: I don't want to tie any money up

If you want access to your money at all times, a CD might not be the best fit. Instead, consider a high-yield savings account.

High-yield savings accounts differ from CDs in that they come with a variable interest rate. It means if the Fed decides to cut rates again, it could impact how much you can earn from one.

That said, now is an excellent time to sign up for one. I review rates weekly, and some accounts still have APYs far above 4%. Use this Bankrate tool to find the best savings account for you:

It's a great way to protect your $50,000 without having fees eat into it. Many of the best high-yield savings accounts come with no fees or account minimums. You can always sign up for a checking account to access funds quickly with a debit card, should you go with an online bank.

Recommended account. Newtek Bank offers the best rates at 4.35%, with no minimums or monthly fees. If you store $50,000 in it for a year without any rate cuts, you'd earn $2,222.86.

Ultimately, if you plan to receive a larger sum of money and have your retirement and emergency savings fully funded, these are the best options to consider. An index fund has the chance of the highest return but some risk, and of the guaranteed-return options, CDs will earn you the most over time as you can lock in rates while they're still higher.

However, it's also tempting to go with a high-yield savings account. While you run the risk of having rates lowered in the future, it also gives you flexibility to pivot to higher-earning investments if need be — or to spend the money when you decide to. Prioritizing your savings goals upfront can direct your path.

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Four out of five Americans in a survey by Discover this summer said they feel anxiety about their finances — an increase of nine percentage points since 2021 — and one-third characterized their stress as moderate to severe. The findings echo recent studies by Northwestern Mutual and Motley Fool, which found that more than half of Americans now worry about their finances at least three times a week.

Overall sentiment in the U.S. continues to deteriorate, with major gauges of consumer confidence falling in August. Topping the list of concerns: high inflation and everyday expenses, followed by job fears and worries about a recession.

“The change in trade policies and uncertainty over prices — most of our clients are aware of that, and it puts them on edge,” says certified financial planner Eric Walters, managing partner at Summit Hill Wealth Management in Greenwood Village, Colo.

The concerns are not unfounded. Several measures of inflation have been inching higher recently, and many retailers and consumer goods manufacturers are warning that prices will continue to rise due to tariffs. The latest analysis from the Budget Lab at Yale University suggests tariffs could add 1.8% to price increases this year, the equivalent of an average income loss of $2,400 per U.S. household. At the same time, employers are becoming reluctant to hire, creating another economic headwind.

What makes experts anxious, though, is that many people may make impulsive and possibly damaging money decisions to ease their worries, such as moving most of their retirement savings to cash or loading up on gold, cryptocurrency and other high-risk alternative assets.

“Everybody wants to get back into the driver’s seat of their lives financially, so they look at what they can control,” says CFP Bob Wolfe, founder of HealthyFP in Conshohocken, Pa.

These steps can help you tackle money worries in a healthy way.

Zero in on your biggest concern

Pin down what disquiets you the most, then work on a specific plan to address that worry. If high prices top your list, for instance, you might start by reviewing your budget to find ways to lower expenses, says Juan HernandezAriano, a CFP and director of WealthCreate in Houston. For example, you might be able to take advantage of available discounts, cancel little-used streaming services and subscriptions, or negotiate a lower interest rate on debt.

If you’re retired and inflation is fueling fears you could outlive your savings, consider shifting an additional three to six months’ worth of expenses from your investment portfolio to a lower-risk, easily accessible money market account or high-yield savings account that you can dip into as needed. That way, you’ll avoid selling stocks at a low if the market drops sharply again, HernandezAriano says. Temporarily lowering your annual portfolio withdrawals — say, from 4% to 3% — can help as well.

Naming your next three moves if your worst fears materialize is also a good exercise, HernandezAriano says. If you’re worried about losing your job, for example, you might assess your cash reserves to make sure you have enough on hand to meet your immediate bills, plan to file for unemployment benefits, and figure out how you’d maintain health insurance.

“The anxiety is reduced simply because you start flushing out that uncertainty,” HernandezAriano says.

Avoid habits that fuel your anxiety

Keeping up with the 24/7 news cycle and reading constant social media posts about the economy can trigger your brain to release “a burst of dopamine, which feels good and trains the brain to seek out more news,” says CFP and therapist Joy Slabaugh, founder of the Wealth Alignment Institute. But doing that ultimately feeds your anxiety, so “set up safeguards to turn that off,” she advises. Maybe limit your financial news viewing to an hour or less a day or stop following alarmist economic pundits on social media platforms.

Similarly, take a break from looking at your portfolio balances. “Those who check their investments frequently have a greater likelihood of seeing the inevitable short-term ups and downs,” says Walters, even though over the long term the market typically rises.

Clients who instead rely on quarterly updates have lower stress, Walters says — and research shows they average significantly higher returns on their investments as well.

Get perspective

Accept that some factors are out of your control, says Patrick Huey, a CFP and owner of Victory Independent Planning in Naples, Fla. He likes to offer his clients a reassuring historical perspective: Periodic bear markets and recessions are normal, and so is eventual recovery. “They feel like, okay, this isn’t the first time this has happened,” he says.

Instead of checking your portfolio, review your long-term financial plan, which should account for market ups and downs, recessions, and other setbacks, such as higher-than-average inflation. It also offers a concrete representation of your wealth and goals, how far you’ve come, and where you’re going. “It lowers the stress level,” Walters says. “You feel like there’s a map for your life.”

Allow yourself some grace

Avoid beating yourself up for feeling anxious, says Rick Kahler, a financial adviser and certified financial therapist in Rapid City, S.D. Instead, use the emotion to your benefit. “It’s what we call a trailhead to explore,” Kahler says. “It will lead us to some place that can be really productive.”

There’s also a good chance you’re not the only one dealing with financial jitters. Reaching out to trusted family and friends can help. As Slabaugh notes, “There can be comfort and solidarity in realizing you’re not the only one who feels this way.”

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Answer: There are many ways to trim your budget, even if you think you've already cut out all the extra expenses. The key is for people to "treat their budget as if they were downsizing their home," according to Million Dollar Round Table member and personal finance expert Roy Lederman. You'll need to eliminate some items altogether and find creative ways to live comfortably with less.

I've listed some ideas below of where you could find savings in your own budget, including ballpark estimates of how much each option could save. Some strategies are more dramatic lifestyle changes (like giving up a car), while others are clever financial tweaks that can shave your expenses without you even noticing a change in your lifestyle.

Groceries: Cut $242 per month

An average four-person household in the United States wastes $56 per week on food that ends up going uneaten, according to the Environmental Protection Agency (EPA). So, eliminating that wasted food could save you about $242 per month.

Here are some tips to do that:

• Plan meals with overlapping ingredients to take advantage of sales, coupons and bulk pricing.
• If you struggle with impulse buying, use curbside pickup or make fewer (but larger) shopping trips each month.
• On days you aren't able to cook a meal as planned, store the ingredients in the freezer to buy yourself more time to use them.
• Join your grocery store's free loyalty program (if available) to get exclusive coupons and early notice about sales and deals. You can use that to guide your meal planning.

You can claw back even more out of your grocery (and gas) budget by using the right cash back credit card. My current setup includes the American Express Blue Cash Preferred card and the Costco Anywhere Visa.

The former nets me 6% back on groceries (but can't be used at Costco). The latter earns 2% on Costco purchases and 5% on Costco gas. All told, I earn about $50 every month in cash-back on gas and groceries alone for a household of two. For larger households, the savings could easily run higher.

The key to making this strategy work is sticking to a grocery budget even though you're using credit, so you can pay it off in full before you're charged interest.

Streaming: Cut $50 per month

On average, Americans spend $50 per month on streaming services. But with a little creativity, you could cut that to nearly zero without giving up streaming altogether.

Some credit cards offer generous streaming credits. You should also check your mobile carrier, internet provider and shopping memberships for offers.

For example, T-Mobile offers a free Netflix, Hulu and Apple TV+ bundle with select mobile plans. Walmart+ also offers a free subscription to Paramount+ or Peacock. You can alternate between them every couple of months to get both for free.

Another trick to save on streaming is taking advantage of seasonal subscription deals. Back in May, Peacock was offering a full year of the subscription for $24.99. At the same time, my Delta Skymiles Platinum American Express card was offering a one-time $7.99 statement credit if I used that card to pay for a Peacock subscription.

I was able to take advantage of both offers at once and am now enjoying a full year of Peacock for just $17 – a savings of $63 for the year. Black Friday is just around the corner and many streaming services offer juicy deals around that time.

Utilities: Cut $122 per month

To get to that $122 in savings, I relied on a few averages: American households spend about $143 per month on electricity (Energy Information Administration), $80 on gas (American Gas Association) and $83 on water (the EPA). Lastly, a CNET analysis estimates U.S. households spend about $78 per month on internet.

Here are some tips to lower each of those bills:

• The EPA provides easy tips that can cut your water bill by about $31 per month.
• The Department of Energy put together this guide to help homeowners cut energy bills (lectricity and gas) by about 25%. At Kiplinger, we also have this guide with 18 ways to cut your energy bills.
• You may also be able to shave up to $35 per month off your internet bill. Downgrading your speed to the next level would save about $20, and you may not even notice a difference.
• If you're renting your equipment, that typically adds about $15 per month to your bill. Buying your own costs about $100, so you'd earn that upfront investment back in less than seven months.
• Older Americans can call around their utility providers to check for senior discounts. Not every company offers them, and the age at which they kick in varies. But, if you're over 50, it's worth asking.

Debt: Cut $360 per month

The Federal Reserve is expected to continue cutting rates this year.

"With interest starting to decrease, refinancing of mortgages, student loans, along with consolidating high-interest credit card debt should become a top priority. By doing so, you can lower your monthly payments by hundreds without sacrificing your lifestyle," Lederman said.

The average U.S. household has over $151,000 in debt, according to WalletHub. That includes mortgage and credit card debt, averaging around $9,800.

Based on those numbers, refinancing your mortgage to a rate that's at least 1% lower could save about $100 per month, while consolidating your credit card debt to a lower-interest loan could save about $40 per month. In both cases, you're also potentially saving tens of thousands over the long-term by paying less interest overall.

Meanwhile, the average monthly payment on a loan for a new car is $749. Simply trading that new car in for a reliable used one could drop your payment to $529, a savings of $220 per month.

If you can downsize to just one car for your household, giving up that $749 monthly payment (and saving more on car insurance, fuel and maintenance) would add a lot of breathing room to your budget in one fell swoop.

Insurance: Cut $360 per month

Here are a few of the most effective ways to lower your home and car insurance premiums. If you're able to use all of them for both policies, you could save up to $360 per month:

• Shop around for new car and home insurance. Those who switch save $461 per year on average for car insurance. You might be able to see similar savings on home insurance.
• Raise your deductibles. For home insurance, raising your deductible from $500 to $1,000 can lower your premium by 25%. That's over $600 per year in savings, based on current average home insurance rates. You could lower car insurance costs by about $800 per year by doing the same thing.
• If you're able to follow the advice above about downsizing from two cars to one, tack on about $2,100 per year in savings to your tab.

In many cases, the strategies above are about trimming waste and making tweaks that put more cash in your pocket while minimizing the impact on your lifestyle. There are still plenty of ways to cut your monthly budget, even if you feel like you already eliminated the obvious expenses like dining out or splurging on a morning coffee.

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Military life comes with plenty of challenges: frequent duty-station relocations, irregular work schedules and overseas deployments, to name a few that we’ve been through. But servicemembers also have access to some significant financial benefits. In recognition of Veterans Day this November, I’m sharing below a few that are impactful for my family.

1. Housing allowance

One helpful perk is a tax-free subsidy, known as the basic allowance for housing, that covers all or part of your monthly rent or mortgage payment if you don’t live in government-provided housing on a military base. The amount you receive depends on the location of your duty station, your rank and whether you have dependents. You can use the BAH calculator to look up the value of your subsidy based on those factors.

2. Free college

The Post-9/11 GI Bill covers the full cost of in-state tuition and fees at public colleges for up to 36 months (four academic years). Or, if you go to a private or foreign college, you get up to a certain amount per year; for the current academic year, the rate is $29,921. The Post-9/11 GI Bill also provides money for housing, books and supplies, and tutors, among other expenses. Those who served on active duty for at least 36 months or meet certain other requirements are eligible for the full GI Bill benefit.

One of the best features is that if you’ve served for at least six years and commit to four more, you can transfer your benefits to your spouse or children. Tom has done that, splitting his benefits so that our two young sons will someday be able to use them for their educational expenses.

3. Retirement security

Military members can use the Thrift Savings Plan, a tax-advantaged retirement plan that’s similar to a 401(k). The TSP has low fees, with the expense ratio on its funds recently ranging from 0.036% to 0.051%. Under the military’s blended retirement system (BRS), which went into effect in 2018, servicemembers get an automatic TSP contribution from the government equaling 1% of their basic pay, plus a matching contribution of up to an additional 4% of pay after you’ve served for two years.

Pensions have become rare in the private sector. But military members who complete at least 20 years of active-duty service are eligible for a lifetime pension, and the payments start when they exit the military. If you retire at the 20-year mark, the government calculates the average of your highest 36 months of basic pay, and under the BRS, you receive a pension equal to 40% of that amount. For each year you serve beyond 20, you get an additional 2%. (Servicemembers who joined before 2018 and did not opt in to the BRS are eligible for a 50% pension when they reach 20 years of service, with 2.5% added on for each year past 20 — but they don’t get government contributions to the TSP.)

4. Low-cost life insurance

Servicemembers’ Group Life Insurance provides coverage at a low rate regardless of the servicemember’s age or health. To get the maximum $500,000 in coverage, servicemembers pay $26 a month in premiums. Spouses can also get coverage of up to $100,000 through Family SGLI; rates vary by age. A spouse between ages 35 and 39 can get $100,000 in coverage for $4.70 a month.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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If you want to cut costs, there's a new internet provider on the block. Mint Mobile recently announced its home internet service, called MINTernet.

I'll break down how the service works. Additionally, I'll compare its service with other cellular providers offering home internet plans to determine if Mint Mobile's service is worth the switch for you.

Mint Mobile's new service keeps things simple and affordable

When searching for an internet provider, costs and ease of use are at the top of my list. These are two things Mint Mobile does exceptionally well.

Let's start with costs. If you have a Mint Mobile cellular plan, you can save $10 off its home internet service, bringing the initial cost down to $30 for the introductory three-month period. If you don't have cell service with Mint Mobile, you can still get the plan for $40 for three months, which is about half of the average internet bill.

After the first three months, the service costs depend on a few factors. This table breaks them down:

Along with costs, ease of use is imperative. Unlike other internet providers, with whom you have to schedule an installation appointment, then another for them to bury the line in your yard, Mint Mobile simplifies the process. They'll send you a wireless gateway (with expedited shipping) that you plug in, connect your devices, and the service is ready to go.

How does Mint Mobile's service work?

Mint offers 5G internet connection through T-Mobile's network, meaning before signing up for service, you'll want to check T-Mobile's coverage map to ensure you'll receive the higher speeds.

Next, you'll want to see if the service is in your area. Visit Mint Mobile's website and enter your address to see if coverage is available. If it is, you can sign up for service online within minutes. If you want to cancel service later, there are no early termination fees.

What happens if you try the service and dislike it? No worries, you have a 14-day money-back guarantee, making it a risk-free way to see if its connection speeds are adequate for your online needs.

How fast is the network? It depends on where you live. Mint Mobile says you can experience download speeds from 133 to 415 megabits per second (Mbps), with upload speeds of 12 to 55 Mbps. The download speeds are comparable with what you probably receive through your service provider now.

How does Mint Mobile compare with other internet providers?

Here's a breakdown of how Mint Mobile's home internet compares with other services:

Every mobile internet provider has a data cap. If you reach the data threshold for the month and there's network congestion during peak usage, they'll lower the connection speeds of the users exceeding it.

Also, to be fair to Verizon, my location only qualified for the Lite plan. But even the Lite plan pales in comparison with what you receive in terms of value, data allowance and download speeds Mint Mobile offers.

Is Mint Mobile's home internet a good deal?

It depends on your needs. If you want to cut costs and you're in their service area, it makes sense to give them a try.

Their download speeds are favorable to other cellular providers offering home internet, and even without the phone plan discount, you're still paying well below what you would with a regular internet provider. The only issue is you'll have to pay at least three months in advance, and the best savings force you to prepay for a year of service.

The good news is that you have a risk-free way of trying it out. You can test speeds for two weeks, and if it doesn't work for you, you can return the gateway and get your money back.

For the price and the features, this is one of the better buys I've come across, if it works for your needs.

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As you know, when the Fed cuts rates, it does make some things more affordable, such as borrowing costs on credit cards and home loans. On the other side of the coin, savers could take a hit, as APYs on savings accounts will dip slightly. That puts us in a place where the decisions you make now could have real impacts on your future yields.

But the news isn't all bad for savers. If you have $100,000 you want to put into savings for plans like a down payment on a new home, I'll show you some smart money moves to make now.

A savings approach guaranteed to generate results

If you're using the $100k to save for a specific goal in the future and don't want to put it into the stock market, a CD is going to be the best option for you. CDs have fixed interest rates. So, if you sign up for an account today and the Fed continues to cut rates, your rate doesn't change.

How much does this matter?

Say you open a five-year CD right now with $100,000, earning 4.15%. For five years, you'll receive $22,545.22 in earned interest. But if you wait until the Fed cuts rates and the banks follow suit, your APY could drop to 3.90%. At that rate, you would earn $21,081.48, $1,463.74 less than if you'd acted now.

Therefore, if you have clear intentions with your $100k and don't mind locking it up for a bit to earn more cash, now is the time to strike.

You can shop for and compare CD options quickly using this Bankrate tool:

Is long-term or short-term CD the smarter play right now?

This largely depends on what you're planning to do with the money. If you're storing a substantial sum for a specific reason, like buying a home in a few years, it makes sense to do a longer-term CD now while rates are still high.

But you need to make sure you don't need that money before the CD matures, because if you break it open before it matures, it would be expensive. Longer-term CDs come with steep fees for early withdrawal, where you could lose up to a year of interest earned, which, with the sum deposited, could equate to hundreds of dollars lost.

Another approach is to consider a short-term option. With it, you'll receive a high rate of return with quicker access to your cash. Then, if inflation continues to rise heading into next year, you'll have time to pivot to investments that could earn more.

And the best product for this approach, if you have around $100,000 to save, is a jumbo CD. Jumbo CDs work the same way as regular CDs, but the deposit requirements are much higher – usually from $10,000-$100,000.

With one, you can earn returns outpacing inflation and have access to your cash within six months to a year. Not bad for reaching short-term savings goals.

When will my savings account rates drop after a rate cut?

I've been reviewing and updating rates on CDs and high-yield savings accounts, and what I've found is that it varies depending on your financial institution. To illustrate, the best three-year CD rates used to be close to 4.28% APY; now, you're lucky to find some around 4.00%.

Meanwhile, some banks haven't changed their rates at all. I have a high-yield savings account with SoFi, and rates haven't dipped yet. The same applies to the best high-yield savings accounts.

One of our top choices, Newtek Bank, still offers gains of 4.35%. On the CD side, you can get a six-month no-penalty CD through Climate First Bank for 4.34%. But you'll want to act quickly, as rates can change overnight.

Overall, the rate environment is shifting for savers. With the Fed possibly cutting rates again before the end of 2025, now is the time to take advantage when rates are higher.

For savers with substantial deposits, making the right move now could help you save thousands more. This can help you reach your savings goals faster, without the risk of losing money.

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With a prepaid plan, customers pay for service in advance, which can help avoid surprise charges or hidden fees. There's also peace of mind, knowing you can typically cancel at any time without facing penalties or early termination fees.

For many, this structure offers a simpler and more predictable way to manage cellphone costs. With major carriers such as Verizon now offering prepaid options that use the same reliable network as their contract plans, it’s easier to get a quality prepaid phone service without locking into a lengthy agreement.

What is Verizon Prepaid, and how does it work?

Verizon Prepaid is a no-contract wireless service that lets customers pay for talk, text and data before they use it. Unlike traditional contract phone plans that bill users after the fact, prepaid service is purchased upfront, typically in 30-day increments.

Users can select from several plan options based on their data needs, ranging from limited-data packages to unlimited plans. Once the month is up, they can choose whether to renew, upgrade or pause their service altogether. There’s no credit check required to sign up, making it accessible to those who are rebuilding their credit or prefer not to open another line of credit.

Even though it’s prepaid, Verizon’s service runs on the same 4G LTE and 5G networks as its postpaid plans. That means customers still get reliable coverage nationwide, but with a bit more control and flexibility.

Key features of Verizon’s prepaid plans

Verizon’s prepaid phone plans are designed to serve a variety of needs, from casual users to data-heavy streamers. Plans start with basic data tiers and go up to fully unlimited packages.

One of the most attractive features is the Auto Pay discount, which knocks $10 off the monthly cost of service when customers set up automatic payments. For example, a $45 per month unlimited plan drops to $35 per month with Auto Pay, providing real savings over time.

Verizon also offers a three-year price guarantee on certain prepaid plans. That means the rate you sign up for won’t go up for at least 36 months, adding an extra layer of financial predictability for long-term users.

Most prepaid plans come with mobile hot spot capabilities, although data caps might apply. Customers can also add optional services such as international calling, roaming passes for travel or extended data buckets as needed.

For those who don’t need the latest perks or bundled entertainment, prepaid offers a back-to-basics approach to phone service with just talk, text and data.

Let’s take a closer look at Verizon’s prepaid phone plans, from basic 15 gigabyte data to full Unlimited Plus coverage:

What you get with a Verizon Postpaid (Contract) plan

Verizon’s postpaid plans, also referred to as contract plans, offer a different kind of value. These plans typically include access to premium features, greater network prioritization and the ability to finance high-end smartphones over time.

One of the biggest draws of a postpaid plan is device financing. Customers can get the newest iPhone, Galaxy or Pixel with no money down and pay it off over 36 months at 0% interest. This arrangement makes expensive phones more accessible without requiring a large upfront payment.

Postpaid customers also enjoy bundled perks on higher-tier plans. These often include subscriptions to streaming services such as Disney+, Hulu, Apple Music or cloud storage. Verizon’s “myPlan” structure lets users mix and match perks based on what they use most, adding more value for families or heavy media users.

Multiline households benefit from family plan discounts as well. Adding more lines to a postpaid account can significantly reduce the per-line cost, especially when combining data plans and sharing features.

Direct comparison: Prepaid vs postpaid at Verizon

While both types of plans offer strong service and network reliability, they differ in a few critical ways.

When prepaid makes the most sense

Prepaid phone service is ideal for individuals who want simplicity, savings and control. It's especially useful in the following situations:

• Single-line users who don’t need family plan discounts can save significantly with prepaid.
• Budget-conscious consumers who appreciate the upfront pricing, predictable costs and the ability to avoid surprise overages or fees.
• People with unlocked phones who want to bring their own device (BYOD) can easily activate on a prepaid plan without needing to finance new hardware.
• Those with minimal data needs or who use Wi-Fi often might find a low-tier prepaid plan is more than enough.
• Credit rebuilders or those avoiding hard inquiries benefit from prepaid’s no-credit-check structure.

When a postpaid/contract plan is worth it

While prepaid offers flexibility, there are several scenarios where Verizon’s postpaid plans provide better overall value:

• Families with multiple lines often save more through shared data and line discounts.
• Tech enthusiasts who want to always have the latest phone can take advantage of 0% interest device financing and upgrade offers.
• Heavy data users benefit from premium unlimited plans that offer higher network priority and larger hot spot data allowances.
• Travelers and frequent roamers will likely prefer the more robust international options available with contract plans.
• Those who value bundled services such as streaming apps or cloud storage will find these features baked into many postpaid offerings.

Hidden caveats to watch out for

No plan is perfect, and there are a few important caveats to be aware of when considering Verizon’s prepaid service.

• Data speeds might be slower during peak hours: Especially in busy urban areas.
• Hot spot usage on prepaid plans may be limited: Either by speed caps or total data limits. Not all prepaid unlimited plans include mobile hot spot access by default, so users should check plan details before relying on it.
• Device compatibility is another concern: Not all unlocked phones will work seamlessly on Verizon’s network. It's important to verify that your device supports the right bands and technology before switching.
• Activation or SIM card fees: These fees might apply though Verizon occasionally waives these during promotions.

Verizon’s prepaid plans offer a streamlined, affordable and flexible way to stay connected without the strings of a long-term contract. They’re a smart choice for anyone who wants to simplify their phone service, avoid surprise bills or manage their costs more intentionally.

At the same time, postpaid plans remain a strong option for households that crave the latest devices, premium features or the convenience of bundled services. Choosing the right plan comes down to your priorities and personal preferences. But it’s always good to have options.

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Whether you've already been receiving Social Security payments by direct deposit or if you'll be starting to receive them that way soon, it's worth taking time to consider where your payments are being deposited. This decision could earn you valuable interest — or cost you in fees and missed opportunity.

That's because some bank accounts offer generous APYs, helping you earn more money and stay ahead of inflation, while some come with high fees, which can reduce your earnings. I'll show you which options are best for optimizing your earnings.

Outpace inflation with high-yield savings accounts

One smart solution is to deposit your Social Security payments directly into a high-yield savings account. You can find high-yield savings accounts (HYSA) that'll earn you over 4.00% APY, with no account fees or minimums.

This option works best if you treat your Social Security earnings as supplemental income, since you can have it sit and earn higher interest until you need to use the funds.

What I like best about high-yield savings accounts is their flexibility. Unlike CDs, where you have to pledge your money for a specified term, you can access your high-yield savings account anytime you need.

Considerations: Many HYSAs are from online banks, not brick-and-mortar, so you would not have the option of stopping into a local location to problem-solve. If you need to use the funds, you also have to contend with transferring them to, say, a checking account, which doesn't happen instantaneously, so you have to plan.

If you're concerned about signing up with an online bank for cash access, I recommend also opening a checking account with that online bank. Look for checking accounts that offer debit cards, which allow you quick access to your cash.

And if you're interested in signing up for a HYSA, use this Bankrate tool to find the best options quickly:

Try a savings account with checking account flexibility

Another option to consider is a money market account. What makes them unique is that you'll earn an APY that rivals some of the best high-yield savings accounts, but you have more options to access your cash than you do with a HYSA.

Most money market accounts come with debit card privileges. Some also offer check-writing capabilities. This way, you don't have to contend with paying ATM fees or waiting for transfers if you need access to your money.

Considerations: Many money market accounts have monthly transaction limits. If you exceed them, the bank can decide to decline the transaction or approve it and charge you a fee.

As such, only use a money market account if you don't plan to make many purchases on the account. Another thing to consider is that these accounts have monthly fees if you don't meet the minimum balance requirement – think $1,000 or more.

Can I use a local bank?

If you don't want to give up banking with your local branch, I don't blame you. There's a personalization there that's hard to come by with online banks. Plus, it can be a great undertaking to switch your bank accounts.

By that same token, many brick-and-mortar banks don't offer the same level of returns you can receive with an online bank. For example, I checked the savings rate with my local PNC Bank. For balances $1,000-$2,499, I would earn 0.02% APY. Anything above that earns me 0.03% APY.

By comparison, Newtek Bank has a high-yield savings account that earns 4.35% APY. Choosing this option, especially if you have $10,000 in the bank or more, ensures you earn hundreds of dollars in interest annually. So, if you do decide to go with a traditional bank, look for one that offers high-yield savings accounts, or else accept that you'll lose out on some money.

Considerations: Sometimes, it makes sense to stay with your local branch. If you have an aging parent who relies on a personal banker to help them with bill payments and budgeting, then I wouldn't recommend switching.

Some local banks also offer savings account bonuses, where you can earn hundreds of dollars for opening an account, setting up direct deposits of your Social Security check and keeping that account open for at least a few months. Use this in the interim if you can, but know eventually you'll need to switch to a savings account with a higher APY to keep your earnings growing.

The bottom line on where to deposit your Social Security check

With almost all Social Security recipients receiving their checks electronically, choosing the right bank account is vital. By selecting one that offers no account fees or minimums, with higher APYs, you're allowing your money to continue to grow to outpace inflation.

This is why high-yield savings accounts continue to be the best option to consider. However, if you want more flexibility in how you access your cash, money market accounts give you more ways to do so, while also earning far more than your local branch will pay you.

Related content

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• Best High-Yield Savings Accounts
• Six Changes Coming to Social Security Next Year

What you find is that being in touch with nature is one of the most serene experiences you can have. But what happens when you need access to things like trail reports, weather updates, or help in an emergency?

This is where having the right connection becomes critical to staying safe. That's why, before I go on a hike or remote trip now, I make sure to have satellite service on my cell phone. And if you're a T-Mobile member, it's easy to get.

T-Mobile partners with Starlink for remote connections

T-Mobile has coverage that extends beyond dead zones, with more than 650 satellites overhead. How it works is that if you enter a zone where you don't receive a reliable cellular connection, the satellite picks it up for you, so you remain connected to a few of your apps.

This service comes included on some T-Mobile plans. If you have the Go5G Next or Experience Beyond plans, you already have access to it. If you don't have either of these plans, you can upgrade to one or add the satellite service for $10 per month.

What's helpful about the Experience Beyond Plans is that if you're 55 years old or older, you receive a discounted cell phone plan. To demonstrate, the Experience Beyond w/55+ Savings is only $130 for two lines, a savings of $40 off the regular plan.

Therefore, switching to a plan of this scope not only allows you to remain connected on remote trips, but you can save some money too.

How does the satellite service work?

First, you'll need a compatible device to use this service. Thankfully, T-Mobile has over 60 devices eligible:

• iPhone 13-17 series, including iPhone Air
• Google Pixel 10 series, data will be available for Google Pixel 9 series, excluding 9a soon
• Samsung Galaxy S23-S25 series, including Z Flip 5-7, Z Fold5-7
• See all eligible devices

And if you're considering a switch to T-Mobile, you can save on a newer device. Some incentives give you a free iPhone 17 and other devices, provided you sign up for the right plan.

You can browse phone deals here:

Once you're set up with the right plan and device, the satellite service works automatically. You'll notice you're using satellite when your phone's network reads "T-Mobile Space X" or "T-Sat+Starlink."

Keep in mind that satellite service is limited in speed and capabilities. Your phone won't work like it normally does, in that connecting to apps or sending messages might take longer, since connection speeds are not the same as cellular. And if you're service switches from one satellite to another, you might notice a temporary lapse in coverage.

Furthermore, you won't be able to use all of your phone's apps when connected to the satellite. Here's a list of all the available apps you can use.

Is the service worth it?

It depends on how much you plan to use it. If you're camping, boating or hiking in remote areas often, it pays to have the service, just to remain connected in case emergencies arise.

However, if you're only planning on doing the occasional trip, it doesn't seem worth it to upgrade your plan, since you can add the service for $10 a month and cancel when you don't need it anymore.

Overall, T-Mobile offers adventurers a way to remain connected when you're off the grid. T-Mobile's partnership with Starlink ensures you receive satellite connections that can power optimized apps and allow you to stay in touch when you need it. Just make sure you have the right device and plan before setting out into the great, wide open.

Related content

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I also like them because you can assign temporary codes for occasional visitors. This ensures that I don't have to make duplicate keys (which could become lost, most likely by me) and end up in the hands of someone I don't want.

As with any security equipment, vulnerabilities can arise. So, I'm going to show you some ways to protect your home from keyless break-ins.

Find the right smart lock for your home

If you already have a smart lock, we’ll get to a few tips below to help keep it secure. But if you’re shopping for one, it’s worth choosing a model that fits your door and works well with your smart home setup.

Some locks are built for Apple HomeKit, while others pair best with Google Home or Alexa. Look for models with strong app integration, reliable remote access and easy installation, especially if you want to control everything from your phone or smartwatch.

Here are a few lock options based on expert insights from Tom’s Guide.

Make your home less attractive to thieves

First, it's important to understand that smart locks have some software vulnerabilities. However, a thief would need technical know-how to exploit these weaknesses. Most home burglaries are crimes of opportunity committed by amateurs.

So, if someone tries to break into your home, it's probably because it looks easy to get in and you have items that can be quickly stolen. While smart locks are a good step toward keeping your door secure, you should also implement other security measures.

Installing security cameras around entry points signals to thieves that someone is watching. Automatic lights are also essential, especially during this time of year when daylight is limited, so they can't hide in the shadows.

Doing these things could qualify you for a discount on your home insurance policy. Contact your provider to see which equipment, if any, qualifies. And if you're looking to lower insurance costs from an existing carrier, use this Bankrate tool to find a new policy fast:

Secure your digital life

Generally, we're not great at passwords. We set ones we'll remember since life throws so much at us, then use them for everything.

However, if a thief knows you pretty well, they can accurately guess your password or use hacking techniques to find it. Once they're into your Wi-Fi network, it makes it easier for them to access any devices you have connected to it, such as your smart lock. From there, they can unlock and lock your door with ease, which is not optimal.

This is why it's important to pay attention to software updates on your router, cell phone and any other device connected to your home's network. Before installing your smart lock, check for updates since it might not have the latest software updates. On top of this, use strong, unique passwords for all things digital that are difficult to crack.

This is why I like password managers. They create strong, random passwords and store them for you, so you don't have to remember them all.

A few other tips to keep you protected include:

• Disable temporary door codes once you no longer use them; this prevents someone from continuing to have access when they no longer need it
• Use multi-factor authentication, particularly biometrics
• Have a separate connection for your home's security equipment apart from your personal devices
• Use Z-Wave devices as they connect through a mesh network, not Wi-Fi

Ultimately, thieves are opportunists, looking for an easy score. As such, you likely won't have to worry about your average criminal trying to hack your smart lock.

That said, there are some smooth criminals out there with digital skills. Using these tips and installing the right security equipment can make it less desirable for thieves of all skill levels, keeping you safe and protecting your most valuable assets.

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Why are they cutting rates? The jobs reports indicate a significant cooldown in hiring, with only 27,000 jobs added in the last four months. And one way to stimulate employment is with rate cuts, since it lowers borrowing costs for companies.

Meanwhile, savers must navigate a future with lower returns. Thankfully, if you have significant cash (think $10,000 or more) to store somewhere safe, there are some smart options to consider.

Use a CD to shield against future rate cuts

A certificate of deposit is one surefire way to fight back against rate cuts. CDs offer fixed interest rates, so from the minute you sign up and fund the account through its maturity date, you'll receive the same rate of return.

Now, the question becomes which CD works best for you? Long-term options, like the best five-year CD rates, offer returns outpacing inflation.

Our top choice, SchoolsFirst Federal Credit Union, has a 4.15% APY. With a $10,000 deposit, you'll earn $2,254.52. Not bad for a risk-free option.

Using this Bankrate tool, you can compare and find the best CD options fast:

But there's a catch with long-term options. If your finances change in the future and you need access to that cash, the penalties for breaking open the CD can be steep. How steep? You could lose between six months to a year of interest earned. That's potentially hundreds to thousands of dollars.

Therefore, you want to make sure you can part with cash for that long. And if you don't, short-term options could be a better solution.

Grow your savings with flexibility

Thankfully, CDs come in shorter terms too. For savers with larger deposits (think way more than $10,000), I would recommend a jumbo CD. A jumbo CD works like a regular one, only you have to deposit at least $25,000 to $100,000.

What I like about them is that you can earn a lot of money in a short time. To demonstrate, EFCU Financial has a jumbo CD that earns 4.35% APY for one year with a minimum deposit of $100,000.

In that one year, you could earn $4,350 in interest with a $100,000 deposit. Just as important, you have access to your cash in a year. That means if inflation continues to rise, you have the opportunity to switch to other investments that might offer a better return than a CD.

Along with CDs, a high-yield savings account could also be a smart move. The best high-yield savings accounts come with returns outpacing inflation for now, no account fees and quick access to your cash whenever you need it.

You can find the right account for you by using this Bankrate tool:

However, I would caution keeping your money in one long-term. These accounts feature variable interest rates, meaning when the Fed cuts rates, your returns are lower. And with one to two possible rate cuts happening before the end of 2025, the APYs on HYSAs could nose-dive, creating a situation where you're barely keeping ahead of inflation.

Ultimately, the changing landscape of upcoming rate cuts and inflation will impact savers. If you have an emergency fund established and have significant savings you want to offload, then choosing a secure option now helps maximize earnings while rates are still high.

And the best way to do this is with a CD. CDs offer some protection from rate cuts, allowing you to strike while the iron is hot. Just remember to choose a term that works best for your cash flow, so you avoid costly early termination fees.

Related content

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The good news is that flying with your pet is relatively safe. Among all major airlines required to report animal losses, injuries or deaths to the Department of Transportation, there were just 13 incidents in 2024. With a total of 161,335 animals transported, that's a less than 0.01% chance of something going wrong when traveling with pets.

While the odds of something bad happening are low, when things do go wrong, they tend to go very wrong. Of those 13 reported incidents in 2024, 10 of them involved the death of an animal. So, it's worth doing whatever you can as a pet owner to keep your pet safe on their next flight. Here are the most important steps you can take, both before the flight and the day of, to protect your pet.

What to do before the day of the flight

Make sure you pet is fit to fly

Flying can be stressful for any animal. But it's even more dangerous for pets that are very old, very young or who have preexisting health conditions. If you're unsure, call your vet to get their opinion on whether or not it's safe for your dog or cat to fly.

If the answer is no, consider taking a road trip with your pet instead. While the journey might be longer, you'll have much more control over the environment and stressors your pet is exposed to.

Check your destination's requirements for pets

Whether flying to a different state or a different country, you need to know the local regulations regarding importing animals. That might mean extra documentation from your vet, getting certain vaccines or even adhering to quarantine requirements once you land.

Whatever the requirements might be, you need to know these well in advance so you can prepare or adjust your travel plans accordingly.

Call the airline in advance

Since airline policies regarding pet travel can vary so widely, it's important to call the airline well in advance and before booking to get the specific policies you'll need to follow. Many airlines restrict the number of animals that can travel in the cabin, so the earlier you call (and book), the more likely you are to get the flight you want.

When you call, ask about any breed or size restrictions, additional carrier requirements and what documentation, if any, the airline requires. Most will require a health certificate from a vet confirming the pet is fit to fly.

The International Air Transport Association (IATA), an airline trade association, also recommends calling again 48 hours before departure to reconfirm these details. This just ensures that no mistakes or oversights were made and, if any were, they can be corrected before you show up at the airport.

Choose cabin over cargo if you can

Between flying in the cabin or in cargo, the cabin has a better track record. All 13 deaths and injuries reported last year involved pets traveling in the cargo hold. (That's not to say cargo is a death sentence, though. Again, out of more than 160,000 animals transported, just 13 suffered any incident at all.)

But if you have the option, keeping your furry friend with you in the cabin is the way to go. This can also make an already stressful ordeal that much less scary for your pet as their favorite human will be by their side the entire way.

For larger animals, this isn't possible as most airlines have size restrictions. If your pet has to be stowed in cargo, here are some tips from the IATA to minimize the stress and risks air travel poses:

• Book your flight on a weekday, as this is when airlines and airports are fully staffed, so the transport process will be smoother.
• Book your flight early in the day to minimize the risk of delays.
• Avoid air travel in the summer if you can to minimize the risk of heat-related illnesses in pets.
• Go for a walk or play with your pet to exercise them before leaving for the airport and, if possible, again before checking in.
• Remove collars, vests or harnesses before putting your pet in the carrier.
• Place an unwashed shirt of yours, a favorite blanket or another familiar item with your scent on it inside the carrier to help soothe your pet.
• Check in earlier than usual so the carrier can be put in a quiet area where your pet can relax before the flight.

Get an IATA-compliant carrier

When shopping for carriers or crates, you might see some that are labeled "airline approved" or "TSA approved." This is usually pretty meaningless marketing.

For one, the TSA has no pet carrier standards as it's not involved in transporting animals. For another, while airlines may have their own policies regarding animal transport, these would be unique to each airline, so there would be no universal "airline-approved" design.

Instead, it's the International Air Transport Association (IATA) that sets the safety standards for carriers used in air travel, both in the cabin and cargo hold.

You can find the detailed guidelines on the IATA website, but here's a quick summary of what a compliant in-cargo carrier looks like:

• Only rigid (hard-sided) carriers are allowed.
• The carrier must be big enough for the animal to stand up, sit or turn around while standing.
• The side walls must be solid, but with ventilation on at least 16% of the surface area on all four sides.
• The size of ventilation openings should be paw and nose-proof.
• There should be spacer bars on the back and sides of the container to prevent other baggage or cargo from blocking the ventilation openings.
• Absorbent bedding should be placed in the carrier.
• Open food and water containers should be attached to the crate and able to be refilled from the outside without opening the crate.
• The animal's name should be written on the outside of the carrier.
• There are additional guidelines depending on the type and construction of the carrier.

For in-cabin carriers, the guidelines are similar except that the carrier doesn't have to be rigid and doesn't need spacer bars. It also doesn't need attached food and water containers.

Acclimate your pet to the new carrier

If possible, get that IATA-compliant carrier months ahead of your flight. Keep it out and open with a favorite blanket or bed inside so your dog or cat can get used to it.

Come departure day, everything else about your pet's surroundings will be unfamiliar and overstimulating. So, you want this carrier to feel like a safe, familiar space.

Get pet insurance

Emergency vet visits during your trip can easily wipe out your travel budget (and even your emergency fund). If you don't already have it, it's a good idea to get pet insurance before you fly to minimize that risk.

Make sure to get your coverage lined up early, though. Many policies have a waiting period before they kick in. This can be anywhere from one day to one month, depending on the provider. Check the waiting period before signing up to make sure the policy you're getting will be fully active before the day of your flight.

What to do on the day of your flight

Don't sedate your pet unless your vet recommends it

While a sedative or anti-anxiety medication might seem like a surefire way to keep your pet calm and relaxed during the flight, the IATA actually advises against it. Most sedatives come with side effects that can impact your pet's ability to manage the stresses of flying.

For example, tranquilizers can lower blood pressure. But high altitudes also lower blood pressure. When these two effects are combined, it can be fatal.

If your vet thinks the benefits of sedatives outweigh these risks, make sure to keep a record of the drug name, dosage and exact time of administration on hand. If emergency vet care is needed at any stage of the journey, you want this information on hand to help diagnose issues and decide the best treatment.

Food and water

According to the IATA, you want to keep your pet fed, but not overly full. The agency recommends feeding smaller amounts the day before in preparation.

On the day of, feed your pet a light meal two hours before departure time. Then, right before you load your pet in the carrier, provide them with some water.

For travel times under 12 hours, additional feeding usually isn't required, according to the IATA. But keeping food handy in case of delays is a good idea. If feeding during travel time, keep meals smaller than usual.

Exercise

Tiring your pet out can help keep them calm and relaxed while traveling. Take your pet on a long walk or engage in a vigorous play session shortly before leaving for the airport.

Then, if it's safe to do so at the airport, take them out of their carrier again for another walk or play session right before checking in (if they're flying cargo) or boarding (if they're flying in the cabin). Some airports have areas for you to do this.

When to check in

The IATA recommendation is to check in as early as possible for animals flying in cargo or as late as possible for animals flying in the cabin with you. In the latter case, you're trying to minimize the time spent in the unfamiliar and overstimulating environment.

But you don't want to risk missing your flight. So, do some planning in advance to figure out the ideal check in time that ensures you'll get to your gate on time but minimizes the amount of time your pet spends at the airport.

Get through TSA

When going through security, TSA will need you to remove your pet from the carrier so that the carrier can go through the X-ray machine. Make sure your pet has their harness on and be ready to leash them so they can't bolt after they're removed from the carrier.

If you're flying with a cat who isn't already harness-trained, it's a good idea to get them used to wearing one a few months ahead of traveling.

The TSA recommends carrying your pet throughout the screening process rather than letting them walk. After getting through the screening, the agency also recommends taking the carrier and your pet away from the crowded security area and loading them back into the carrier in a quieter area.

Talk to the flight crew before takeoff

Ask the crew while boarding what their procedures are for handling pets in an emergency. Since pets usually aren't mentioned in the normal safety announcement and are kind of an afterthought when it comes to flight emergencies, this is a good time to get on the same page.

Specifically, you want to ask about what to do in the event of turbulence or an evacuation. You also want to ask for a spare oxygen mask if available. Airplanes are equipped with extra masks, normally intended for babies sitting on your lap. But the crew may be able to give you one to use for your pet.

Since these are designed for human faces, it may take some trial and error to get it on and you may end up just needing to hold it against their face. Just make sure it's not pressed against their nose, which could end up blocking their ability to inhale. Because of this, you should definitely make sure to follow the "put your own mask on first" rule you hear in every flight safety announcement.

Keep your pet in the carrier

The safest place for your pet during the flight is inside their carrier. You can place it on your lap or the seat beside you (provided it's empty), but you generally want to keep them contained.

If there's any turbulence, they need to be inside their carrier under the seat so they aren't thrown around the cabin. This will be easier to do if they're already in their carrier.

For the same reason, keep toys or food bowls stored outside of the carrier when not in use. During turbulence, these loose items might get thrown around and hurt your pet.

Know what to do in an evacuation

In the event of an evacuation, you usually can't bring any luggage with you, pet carriers included. So, you'll probably need to remove them from the carrier and hold them in your arms as you deplane.

If your pet is prone to becoming spooked, it might be safer to keep them in their carrier rather than risk them bolting inside the aircraft. But, this might be in defiance of the airline policy. As the pet owner, you'll need to decide the safest course of action for your pet.

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My time on the credit card beat also informed my own strategy as a rewards card user. I charge most purchases on a card that has no annual fee and offers 2% cash back on all spending. (And, practicing what we at Kiplinger preach, I don’t charge more on it than I can afford to pay off each month.)

My husband, Tom, is also on the account, and together, we earn hundreds of dollars in cash back each year, which we deposit into our checking account.

Otherwise, I put restaurant and travel purchases on a card that offers extra points on each dollar spent in those categories. When I’m ready to exchange the points for rewards, I check the redemption values to make sure I’m getting a healthy return.

Many cards offer varying point values depending on how you redeem the rewards, so it’s worth doing the math.

My advice: Aim to get a value of at least 1 cent per point. Or, in other words, each 100 points should be worth at least $1. American Express Membership Rewards points, for example, are worth a penny each if you use them to book flights through Amex Travel, but only 0.6 cents each if you exchange them for statement credits.

Although rewards rates drive most of my decisions on which card to use for a purchase, I consider the card’s additional benefits, too.

When buying electronics or appliances, for example, I often charge them to a card that offers an extended warranty, in case the item breaks down shortly after the manufacturer’s warranty expires.

Premium rewards credit cards

I keep a couple of premium travel cards in my wallet, too. Thanks to Tom’s status as an active-duty military member, he qualifies for a waiver of the annual fee on some credit cards, and the benefit extends to me as an authorized user on his accounts.

For us, taking advantage of the many perks premium cards offer while bypassing annual fees in the hundreds of dollars is a no-brainer. (After Tom retires from military service, however, we’ll have to assess whether the annual fee is worth paying.)

One of the best benefits has been complimentary entry into airport lounges. Along with offering access to lounge networks such as Escape and Priority Pass Select, some card issuers are opening their own lounges, too.

Chase, for example, has been expanding its network of Sapphire lounges. Over the summer, I visited the sleek, expansive lounge Chase recently opened at Philadelphia International Airport. I ordered a fresh bowl of noodles with vegetables, which a server delivered to my table restaurant-style, and my kids played arcade games and shuffleboard while we waited out a three-hour flight delay.

Free wine, beer and cocktails, shower rooms, and private rest pods are other amenities you’ll find at many lounges run by issuers such as Amex, Capital One and Chase.

Judging by the responses to our annual Readers’ Choice Awards, many of you use rewards cards, too. If you’d like to share your strategies to maximize rewards or highlight your favorite perks, feel free to drop me a line.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Sunday shoppers had access to the warehouse from 10 am to 6 pm. That will change to 9 am to 8 pm starting on Sunday, October 12. Sam's Club Plus members will continue to have one hour of early access at 8 am on Sundays.

Further, the retailer is also expanding operations during holiday hours. On New Year's Eve, Memorial Day, July 4th and Labor Day, instead of closing at 6 pm, they'll close at 8 pm.

If you're curious about joining Sam's Club, I'll break down how much a membership is and whether it's worth it.

How much is a Sam's Club membership?

Sam's Club has two membership tiers. The Club Membership is your basic, get-in-the-door plan. This plan is perfect if you want to try it out and see if it works for you.

Best of all, there is currently a deal in which you can get an annual Club membership for $15, saving you 70% off the regular price of $50.

Then there's the Plus membership. This elevated plan grants you one hour of early shopping access each day at the warehouse. On top of that, you'll earn 2% cash back on everything you buy, up to an annual cap of $500, and free shipping on all orders exceeding $50.

Now is an excellent time to upgrade because of the ongoing deal. If you're a new member, you can buy a Plus membership for $50, saving you 54% off the original price of $110.

If you're a current Club member, you won't qualify for this incentive, but you can upgrade your membership through the Sam's Club app or by visiting your local store and speaking with customer service.

Is Sam's Club a good deal?

I've been a Sam's Club member for more than six months, and like many warehouse clubs, it offers cost savings, making it well worth the membership … if it fits your needs.

I used it mainly for baby supplies. Having a 4-month-old means I'm going through diapers, wipes and formula at warp speed, but I'm also saving $20 on every formula purchase because it's much less expensive than what other retailers charge.

Sam's Club is also one of the easiest shopping experiences I've encountered. Their "scan and go" feature means I can scan items as I add them to the cart, check out before reaching the front, and bypass the sometimes long check-out lines.

However, there are things I've found there that are not the best deals. Their gas, while convenient, isn't less expensive than other stations in my area. If you're a Club member and need an item shipped, it's $8. Plus members will also pay $8 for shipping orders under $50.

Overall, Sam's expanding store hours on Sundays and holidays is excellent news for shoppers who need more flexible times to coincide with their schedules. If you're on the fence about trying them, the $15 sale on the Club membership is an affordable way to check out the store.

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That's why, if you're considering upgrades for your home office, now is an excellent time to do so. Many retailers are offering sales this week, from Amazon Prime Big Deal Days to Walmart Deals.

As a deals writer with years of experience, I can help you find the best deals available, considering both price and quality. Additionally, I'll show you which home office upgrades also qualify for tax credits.

Laptops and tablets

Here are some of the best laptop and tablet deals from Amazon and other retailers:

• acer Chromebook Plus 515 Laptop with Google AI – 15.6" Full HD 1920 x 1080 IPS Touch Display- Now $329.99, save $100 at Amazon
• HP - 15.6" Laptop - Intel Core i3 - 8GB Memory - 128GB UFS - Natural Silver - Now $229.99, save $270 at Best Buy
• Apple - 13-inch iPad Pro M4 chip Built for Apple Intelligence Wi-Fi 256GB with OLED - Now $1,099, save $200 at Best Buy
• HP - OmniBook X Flip 2-in-1 - Copilot+ PC - 16" 2K Touch-Screen Laptop - Now $699.99, save $400 at Best Buy
• Apple - MacBook Pro 14-inch Laptop - Apple M4 chip Built for Apple Intelligence - 16GB Memory - 512GB SSD - Now $1,399, save $200 at Best Buy

Office chairs

Having the right chair can reduce lower back pain and fatigue, keeping you focused on the task at hand. Here are some of the better deals offered:

• Insignia™ - Essential PC Gaming Chair - Black - Now $89.99, save $90 at Best Buy
• Primy Drafting Chair Tall Office Chair - Now $108.96, save $81.03 at Amazon
• JONPONY Ergonomic Cross-Legged Swivel Chair - Now $59.99, save $110 at Walmart
• Bestier Big and Tall Executive Office Chair with Flip-Up Arms - Now $239.99, save $143.99 at Target
• Realspace® Hurston Bonded Leather High-Back Executive Office Chair - Now $129.99, save $140 at Office Depot

Printers

Having the right printer can enhance your work with a polished appearance. If you need a new printer, here are some of the best deals this week:

• Epson® WorkForce® Pro WF-3820 Wireless Inkjet All-In-One Color Printer - Now $99.99, save $100 at Office Depot
• Canon - PIXMA TS6420a Wireless All-In-One Inkjet Printer - Black - Now $44.99, save $96 at Best Buy
• HP - Envy 6165e Wireless AI-Enabled All-in-One Inkjet Printer - Now $79.99, save $70 at Best Buy
• Portable Printers, D820 Wireless Bluetooth Printers - Now $65.99, save $29 at Amazon

Headphones and earbuds

Sometimes, you need to detach as you work. And one of the best ways to do this is with the right headphones and earbuds, as you can listen to your favorite podcast or music as you work:

• Beats Solo 4 Bluetooth Wireless On-Ear Headphones - Now $129.99, save $70 at Target
• Amazon Echo Buds with Active Noise Cancellation - Now $34.99, save $85 at Amazon
• Apple - AirPods Max (USB-C) - Midnight - Now $429.99, save $120 at Best Buy
• Apple - AirPods 4 - White - Now $89.99, save $40 at Best Buy
• Bose QuietComfort Bluetooth Headphones - Now $229, save $120 at Amazon
• Google Pixel Buds Pro 2 - Now $169.99, save $59.01 at Amazon

How do I qualify for tax credits for home office upgrades?

First, let's get out of the way what doesn't qualify you for a tax credit. If you're a regular employee working from home, you won't be eligible to claim your office expenses as deductions on your tax return.

Meanwhile, if you're self-employed, you will be eligible to deduct certain purchases on your tax return. Qualified purchases include:

• Computers or laptops
• Printers
• Postage
• Office supplies
• Office furniture

Make sure to keep documentation of all purchases you made. You'll need them when you submit Schedule C (Form 1040) of your tax return.

And if you use your home office mainly for business purposes, you might be eligible for the home office tax deduction.

How long does each sale last?

This is a busy week for retailers, as many offer good deals on office supplies and electronics. Here's a look at how long the sales events last with each retailer:

• Amazon Prime Big Deal Days: October 7-8 (Prime membership required)
• Walmart Deals: October 7-12
• Best Buy Techtober: October 6-12
• Target Circle Week: October 5-11 (Target Circle required for best deals)
• Office Depot Discount Days: October 5-11

Overall, this is just a taste of all the great deals retailers offer this week. Whether you're in the market for a new laptop or chair, this is a great week to upgrade your office.

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The Federal Reserve didn't like the job numbers, prompting it to cut rates for the first time this year at its September meeting. They are expected to meet again later this month, with the markets anticipating another quarter-point rate cut.

As you know, when the Fed cuts rates, the APYs on all savings accounts decrease. However, even with rate cuts, there are smart options to grow your money and stay ahead of inflation.

I'll show you a simple two-step savings strategy that can help you reach your savings goals. And if you time it just right, you won't lose money.

Build an emergency base with high-yield savings

Even with lower APYs, high-yield savings accounts still help you earn a return that outpaces inflation. This is important because you might not be in a position where you're comfortable tying up money for years in a CD.

And that's one of the perks of a HYSA. They offer you access when you need it without having to pay early withdrawal fees. However, one critical aspect to note moving forward is that these accounts have variable interest rates.

The Fed is likely to cut rates at its next meeting, which could cause these yields to slip a bit and reduce your earning power. That said, they still make a great account if you're looking to build an emergency fund or just want quick access to your cash.

Explore and compare some of today's best rates quickly using the Bankrate tool below:

Before opening an account, here's a checklist on how to approach this:

• Search for no-fee options, as they typically don't require minimum balances or deposits.
• Switch your checking account to the online bank you use for HYSA. I use Sofi's checking and savings accounts, which allow me quick access to my cash if I need it.
• Refrain from using local banks unless they have savings incentives, such as bonuses for opening an account. Most won't offer returns anywhere near what you can receive with an online bank, and some of these accounts come laden with fees.
• Once you have a comfortable emergency savings built up, be ready to switch strategies.

CDs remain the best risk-free option for established savers

Meanwhile, if you have built a healthy emergency fund and want a risk-free place to park your funds, consider a certificate of deposit.

Why? Because it features fixed rates. Say you sign up for a one-year CD today. Even if the Fed cuts rates two more times, it's not going to impact you. This is integral if you're looking to maximize your earnings.

Explore some of today's best CD rates using this Bankrate tool:

Similar to HYSAs, there are a few things to consider with CDs:

• If you haven't used one before, start with one with a shorter maturity term. CD terms can be as short as a month, helping you determine if your cash flow can handle it.
• Banks base prepayment penalties on your CD length. It means a five-year CD could have early withdrawal penalties of six months to a year of interest earned. Only sign up for one of these if you feel comfortable not having cash until the maturity date.
• Many banks auto-renew CDs. Therefore, set a reminder a week or two before the maturity date, so you have time to determine where you want to put the money next.
• CDs work best only after you've reached or are on course to reach your investing and emergency savings goals.

How much do rate cuts impact earnings?

I've been watching savings and CDs since the Fed's September announcement, and for the ones that have changed, the dip has been between 0.10%-0.30% APY.

If you're a short-term saver, it's not going to impact your earnings as much as, say, someone wanting a five-year CD.

On this end, the longer you plan to use a CD, the more at risk you are to lose money if you don't lock it in before the next rate cut.

For example, a $50,000 deposit in a five-year CD at 4.00% APY earns you $10,832.65. However, if you wait for a few rate cuts to happen at the October and December Fed meetings, that APY could dip as low as 3.50%.

At this rate, for five years, you'd earn $9,384.32, a loss of $1,488.33. Therefore, timing matters substantially when you choose to lock in a CD.

Overall, now is the time for established savers to capitalize on higher CD rates. Doing so ensures you maximize your returns with higher rates before the next Fed meeting later this month.

Conversely, if you need to build your savings, a high-yield savings account is still the smart play. You'll earn rates above 4%, and even with future rate cuts, your earnings keep you ahead of inflation.

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But buying eyeglasses often gets more complicated somewhere around age 50. Single-vision lenses suddenly don’t help you decipher the small print on restaurant menus. Eye exams require more steps. Glasses get more layered, with add-ons for older folks with vision issues. And the prices for these more-complex glasses can shoot into the stratosphere.

Getting glasses may be more involved with age, but it need not induce as much stress as getting a new car. To help bring the process back to earth for folks 50 and older, we reached out to experts on vision and aging and have weaved their advice into this eight-step guide.

1. Get an exam

This advice might sound obvious. But to save a few bucks, too many people try to use old or even outdated prescriptions to get new glasses. An exam is a must.

You can get one from your optometrist or ophthalmologist. Many eyeglass retailers will perform exams in their offices, too.

2. Shop around

Once you have an updated prescription, explore all your options for purchasing glasses. Most retailers offer package deals for frames, lenses and coatings, and these bundles can save serious money, says Michael Vitale, vice president of government relations at The Vision Council, a nonprofit trade association for manufacturers and suppliers of the optical industry.

Some retailers also offer discounts on purchases of two pairs of glasses or more.

“The most common mistake is not to do comparison shopping,” says Catherine Roberts, senior health reporter at Consumer Reports. In 2022, Consumer Reports surveyed 11,450 of its members who had purchased new glasses within the previous two years.

Most respondents said that for convenience, they bought their glasses at the doctor’s office where they had their eyes examined. When you make a choice for convenience, there is a good chance you’re missing out on better deals, Roberts says.

If you decide to buy glasses elsewhere, get a copy of your prescription from your eye doctor. And don’t hesitate to ask your eye doc for the name of the lowest-price place to purchase glasses, Roberts suggests.

3. Weigh the pros and cons of the bargain options

Odds are, you’ll be directed to a warehouse club or an online retailer, which will likely run you considerably less than buying glasses at your eye doctor’s office or from a major retail chain such as LensCrafters.

In the Consumer Reports survey, members who shopped at Costco Wholesale and online specialist Warby Parker paid a median $160 and $190, respectively, for a pair of glasses after insurance. But the median price at independent optical shops was $346 after insurance, or $511 out of pocket.

If you go with a wholesaler such as Costco or Sam’s Club, you can take advantage of both unbeatable prices and in-person assistance in selecting and fitting your glasses.

Respondents to the Consumer Reports survey ranked warehouse clubs very highly, not only for price but also for service and quality.

“You get a top-notch product at a reasonable price,” says Vitale. But keep in mind that warehouse clubs charge annual membership fees, and they may not accept all vision plans, he says.

If you shop with an online retailer such as Eyebuydirect, Warby Parker or Zenni Optical, you’ll enjoy cut-rate prices without stepping outside your home. But because older folks typically have more-complicated glasses prescriptions and are often more finicky about fit, online purchases might not be the best option, says Faheem Ahmed, an ophthalmologist at Eye Physicians of Virginia.

Consumer Reports suggests that the stronger and more complicated your lenses are, “the more you should lean towards buying in person.”

Unlike many other online retailers, Warby Parker also has physical locations where you can get exams and have a professional fit your glasses.

In the Consumer Reports survey, Warby Parker ranked “very high” in price, quality and service, says Roberts.

4. Compare vision insurance plans with optical-store discount plans

As you age, you probably need more-costly bifocals or progressive-lens glasses. So some form of vision insurance — or even an optical-store discount plan — can be financially beneficial for older adults, says Ahmed.

He estimates that about half of his patients do not have employer-sponsored vision plans, in part because many are retired. Some opt for optical-store discount plans, which typically require a membership fee (often about $25 to $50 annually) and are often best for less-frequent users.

If you have insurance, it’s usually cheapest to use your plan’s in-network providers. If you don’t have insurance or an optical-store discount plan, try to negotiate up front with the provider to get the best prices.

5. Beware the limits of Medicare

Many people who are 65 or older are surprised to discover that routine eye exams, eyeglasses and contact lenses are not covered by Medicare.

However, for some conditions, such as macular degeneration and cataracts, Medicare does pay for testing and treatment, according to the National Council on Aging.

Most Medicare Advantage (Part C) plans offer vision care benefits that go beyond what original Medicare covers, including routine eye exams to check your vision and eye health and an eyewear allowance to help pay for glasses or contact lenses. Coverage varies from plan to plan.

6. Choose coatings carefully

Coatings come in a dizzying array of options. Older people will probably want anti-glare coatings because the coatings can greatly help with night driving, says Ahmed.

But think twice before purchasing a coating for blue-light filtering. These filters act to cut back screen light from electronics such as cell phones and laptops and can sometimes help those who suffer from migraines.

But Ahmed says there is no scientific evidence that blue light can damage your eyes.

7. Don’t overlook transition lenses

If you need prescription sunglasses in addition to standard glasses, you can save money by getting transition lenses, says Ahmed. That way, you might need to purchase one pair of prescription glasses instead of two.

These lenses, also known as photochromic lenses, automatically darken (to act as sunglasses) when exposed to ultraviolet light and lighten when the UV light source is removed.

Using transition lenses is also easier than carrying two pairs of glasses and switching between them. And, Ahmed estimates, because you are purchasing just one pair of glasses instead of two, it can save you $300 to $500.

Be aware that when you’re in a vehicle, your photochromic lenses may not darken fully if the car’s windshield blocks a lot of UV light, says Ahmed. Certain lenses, however, including Transitions XTRActive, can work quite well for daytime driving, he says.

8. Take care of your glasses

Perhaps the best way to save money on new glasses is to take care of your old ones, says Roberts. The pair of glasses you don’t have to buy is money in your pocket.

That means breaking the worst of habits: using your T-shirt to wipe the smudges off your lenses. Instead, always use a lens cloth and cleaner, says Roberts.

Carry your glasses in a hard — not soft — case when you’re not wearing them. When you take your glasses off, do so with both hands to avoid loosening or bending the frames.

Finally, when you do need new lenses, it doesn’t necessarily mean you need new frames, too. If your new prescription will work with your old frames, says Roberts, you could save hundreds of dollars by asking your optician to plop the new lenses into the frames you already own.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Just as noteworthy as the new rules are those that extend provisions from the 2017 Tax Cuts and Jobs Act (TCJA). The OBBBA makes permanent the reductions in federal income tax rates that the TCJA implemented. (Otherwise, those tax rates would have expired on December 31.)

In addition, the OBBBA increases the federal estate tax exemption from $13.99 million per person in 2025 to $15 million per person, or $30 million for a married couple, in 2026. It will be adjusted annually for inflation.

Without congressional action, the exemption would have dropped to about $7 million after 2025. Because of the exemption’s size, the vast majority of taxpayers don’t need to worry about paying federal estate taxes.

You may want to schedule an appointment with your financial planner or tax preparer to discuss how the bill will affect your 2025 tax liability.

“You’ve got to run the numbers, because there’s so much that’s changing,” says Tim Steffen, director of advanced planning at Baird.

To get you started, we have guidance here on how to get the most from some of the significant provisions in the OBBBA.

A BONUS DEDUCTION FOR OLDER ADULTS

Starting with the 2025 tax year, taxpayers who are 65 or older will be eligible for an additional standard deduction of $6,000. The bonus deduction, which is scheduled to expire at the end of 2028, comes on top of an existing extra standard deduction of $2,000 for single filers who are 65 or older or, for married couples who file jointly, $1,600 for each spouse who is 65 or older.

The expanded deduction means a single taxpayer who is 65 or older will be able to deduct up to $23,750 from taxable income, while a married couple who file jointly will qualify for a deduction of up to $46,700, assuming both are 65 or older.

That can translate to significant savings for older taxpayers. For example, an older married couple in the 22% tax bracket (for 2025, that includes income of $96,951 to $206,700) could see tax savings of $2,640 a year, says Marilou Davido, a certified financial planner in Milwaukee.

Older taxpayers in lower tax brackets could save $600 to $1,200 a year, she says.

The legislation won’t eliminate taxes on Social Security benefits. But because the taxability of benefits is based on a calculation involving your adjusted gross income, the OBBBA will reduce the number of beneficiaries who pay the taxes from 36% to 12%, according to the White House Council of Economic Advisers.

Now for the caveats: The bonus standard deduction will affect only eligible taxpayers whose income exceeds the amount of the deduction, so low-income people won’t benefit from this tax break.

At the other end of the spectrum, higher-income taxpayers could see the amount of the bonus deduction reduced or eliminated altogether.

The deduction starts to phase out for couples with modified adjusted gross income of more than $150,000 ($75,000 for single filers) and is fully phased out at MAGI of $250,000 ($175,000 for singles). Your modified adjusted gross income is your adjusted gross income with certain deductions added back.

The higher standard deduction won’t shield Medicare beneficiaries who pay a surcharge, known as the income-related monthly adjustment amount (IRMAA), on their Part B and Part D premiums. The surcharge is based on a version of your MAGI that’s specific to Medicare and is calculated before the standard deduction applies.

Taxpayers whose MAGI is close to surpassing the eligibility threshold for the bonus standard deduction should consider avoiding moves that could reduce this tax break’s value.

For example, converting funds in a traditional IRA to a Roth IRA could reduce or eliminate the bonus deduction by increasing your MAGI, says Davido.

If you want to convert to a Roth, consider spreading out the conversions over several years to keep your MAGI below the threshold, she says.

One argument in favor of doing a Roth conversion is that it protects your nest egg from future tax increases, because Roth withdrawals are tax-free as long as you’re 59½ or older and have owned the Roth for at least five years.

But now that the OBBBA has extended current tax rates, individuals can spread out conversions without fear of a tax increase, at least under the current presidential administration, Davido says.

Timing matters, too: Converting to a Roth before age 65 would avoid the potential loss of the bonus deduction.

Capital gains distributions and withdrawals from traditional IRAs will also increase your MAGI. But there are steps you can take to offset that income and preserve the bonus deduction.

If you’re still working, increasing pretax contributions to 401(k) plans and health savings accounts (HSAs), for example, will reduce your MAGI.

Individuals who are 70½ or older can reduce their MAGI by making qualified charitable distributions from their IRAs, says Todd Calamita, a CFP in Charlotte, N.C.

In 2025, taxpayers can make QCDs of up to $108,000 from their IRAs to qualifying charities. If you’re 73 or older, a QCD will also count toward your required minimum distribution (RMD). A QCD isn’t deductible, but it’s excluded from taxable income.

Davido recommends working with your tax preparer or financial planner before year-end to adjust income-tax withholding and estimated tax payments for 2026. The bonus standard deduction could enable you to reduce the amount of tax withheld from your Social Security benefits and IRA withdrawals; you may also be able to lower your quarterly estimated tax payments.

A BIGGER BREAK FOR HOMEOWNERS

The OBBBA contains a valuable tax break for homeowners who live in high-tax states, and like the bonus standard deduction, the change could affect your 2025 tax bill.

Starting in 2025, those who itemize will be able to deduct up to $40,000 in state and local taxes (SALT), up from a cap of $10,000. The cap will increase by one percentage point each year through 2029, then return to $10,000 in 2030.

The SALT deduction includes state income, property and sales taxes; it’s often most useful for property taxes, which have soared as home values have risen in recent years. The primary beneficiaries will be homeowners in states with high property taxes, such as New Jersey and New York.

The cap is gradually reduced for those with MAGI above $500,000 ($250,000 for a married individual filing separately), and taxpayers with MAGI of $600,000 or more will be limited to deducting $10,000 on their tax returns.

Consequently, homeowners who are eligible for the higher cap need to be even more mindful of their 2025 MAGI, says Robert Keebler, a CFP with Keebler and Associates in Green Bay, Wis. This phaseout is potentially more costly than the phaseout for the bonus standard deduction, he says.

Keebler offers this example: Suppose you’re married, file jointly and have a MAGI of $500,000. Your itemized deductions include $40,000 in state and local taxes. If you convert $100,000 from a traditional IRA or 401(k) to a Roth, your gross income rises to $600,000, and your state and local tax deduction is reduced to $10,000. While your gross income went up by $100,000, your taxable income rose by $130,000.

At a 35% marginal rate, your effective rate on the conversion is 45.5%.

As is the case with older taxpayers, homeowners who are eligible for the higher SALT cap should consider spreading out Roth conversions and taking other steps to keep their MAGI below the thresholds.

Homeowners in high-tax states may get even more out of the higher cap by bunching their itemized deductions.

For example, if you paid your 2025 property taxes earlier this year and receive a bill for 2026 in December, pay it before December 31 so you can deduct both payments on your 2025 tax return, Davido says.

Using the bunching strategy, you would claim the standard deduction in 2026 and make two property tax payments in 2027 so you can itemize in that year.

Bunching your charitable contributions is also an effective way to increase your itemized deductions and lower your tax bill.

A donor-advised fund is a useful tool for this strategy. These funds, offered by major financial institutions, allow you to make a large contribution, deduct the donation on the current year’s tax return, and decide later which charities you want to support.

However, there are other provisions in OBBBA that could reduce the effectiveness of this strategy, which we’ll discuss below.

NEW STRATEGIES FOR CHARITABLE CONTRIBUTIONS

As you consider your year-end charitable contributions, it’s important to understand new tax breaks for givers — along with new limits on how much some donors will be allowed to deduct.

Starting in 2026, taxpayers who don’t itemize can deduct up to $1,000 in charitable contributions, or up to $2,000 for married couples who file jointly. Donations to donor-advised funds and private foundations aren’t eligible for this new deduction.

If you don’t itemize and want to take advantage of this tax break, consider making the charitable contributions you’d ordinarily make by the end of this year in January 2026 instead.

Meanwhile, taxpayers who itemize on their tax returns and deduct charitable contributions will be subject to a new limit on the amount they can deduct. The maximum amount of cash gifts donors can deduct will remain at 60% of AGI.

However, starting in 2026, the deduction will be limited to the amount of charitable contributions that exceed 0.5% of adjusted gross income, Steffen says.

For example, a married couple with AGI of $100,000 who donate $700 to charity will be permitted to deduct only $200.

To avoid that new floor, itemizers may want to make their 2026 contributions in 2025, keeping in mind how that will affect other aspects of their tax bill.

Taxpayers in the top tax bracket (for 2025, that includes income higher than $626,350 for singles or $751,600 for joint filers) may also want to accelerate charitable contributions into 2025 because of a cap on all itemized deductions those taxpayers can claim.

Starting in 2026, the amount of itemized deductions taxpayers in the 37% tax bracket can claim will be limited to 35% of their taxable income.

MORE BENEFITS FOR HEALTH SAVINGS ACCOUNTS

A health savings account can be a valuable tool to set aside money for both current and future health care expenses. An HSA provides a triple tax break: Your contributions are tax-deductible (or pretax if made through your employer), the money grows tax-deferred, and you can use it tax-free for eligible medical expenses in any year.

After you turn 65, you can also withdraw money tax-free from the HSA for Medicare premiums, in addition to other out-of-pocket health care costs.

The new law has three HSA-related provisions. Starting on January 1, 2026, you can withdraw up to $150 per month ($300 for couples) from an HSA tax-free to pay monthly or annual fees for direct primary care arrangements (also known as concierge medicine), in which doctors provide services in exchange for a membership fee.

The law also clarifies that enrolling in a direct primary care arrangement does not disqualify someone from being able to contribute to an HSA if they also have an eligible high-deductible health policy.

Not all concierge practices qualify under the new law as direct primary care arrangements — there are limits to the types of services they can provide beyond primary care.

Additionally, the law permanently exempts telehealth services from the HSA-qualified plan deductible. Most medical care, except for some preventive care, must be subject to the deductible for a health insurance policy to be HSA-qualified.

During the COVID pandemic, you could receive some telehealth services without first paying the plan’s deductible — typically with a $5 or $10 co-payment — but that rule expired at the end of 2024. The OBBBA permanently exempts telehealth from the deductible requirements, retroactive to January 1, 2025.

Finally, bronze plans and catastrophic plans sold on the Affordable Care Act insurance marketplace will automatically be HSA-qualified, starting with the 2026 plan year.

Using an HSA-eligible bronze plan and making tax-free withdrawals from your HSA to pay for direct primary care could be a win-win, says Roy Ramthun, founder and president of HSA Consulting Services LLC in Silver Spring, Md.

You can sign up for direct primary care for your regular doctor’s visits but have a high-deductible bronze plan as a backstop if you end up needing expensive medical care. You’ll be eligible to contribute to an HSA, and you can also use HSA money tax-free to pay the monthly direct primary care fees.

Notably, the version of the OBBBA that originally passed the House of Representatives would have allowed people who sign up for Medicare Part A to contribute to an HSA. But that provision wasn’t included in the final law, so the current rules still stand: You can make HSA contributions only if you haven’t enrolled in either Medicare Part A or Part B.

If you or your spouse is still working and you have health insurance from an employer with 20 or more employees, you can delay signing up for Part A and Part B. But you must enroll within eight months of losing that coverage; otherwise, you could face a lifetime late-enrollment penalty for Part B.

If you sign up for Part A after you turn 65, that coverage takes effect up to six months retroactively. Keep that time frame in mind when calculating your HSA contribution.

CHANGES TO THE HEALTH INSURANCE MARKETPLACE

Several administrative changes are coming to Affordable Care Act marketplace coverage because of provisions in the OBBBA, as well as new rules from the Centers for Medicare & Medicaid Services.

The open-enrollment period to sign up for a marketplace plan will be shorter. Next year, open enrollment for the federal marketplace (HealthCare.gov) will run from November 1, 2026, to December 15, 2026. States that operate their own marketplaces won’t be allowed to extend open enrollment past December 31. Currently, open enrollment goes to January 15, and even longer in some states.

Before you enroll in a marketplace plan, you’ll need to provide evidence of income eligibility for tax credits for your premiums. (Currently, you have 90 days after you enroll to submit the information.)

If your income increases after you enroll and you don’t update your information with the marketplace, you may have to pay back the extra subsidy when you file your income tax return.

Under the previous rules, there were limits to how much you have to pay back if you underestimate your income.

Enhanced subsidies are scheduled to expire

Perhaps the most consequential outcome for ACA plan enrollees is that the OBBBA didn’t extend enhanced premium subsidies for marketplace coverage. The enhanced subsidies are set to expire at the end of 2025, and Congress probably won’t pass additional legislation to extend them.

So the size of the subsidies and the income levels to qualify are likely to shrink significantly on January 1, 2026. People who earn more than 400% of the federal poverty level will no longer be eligible for any subsidies after 2025. For 2026 marketplace plans, 400% of the poverty level is $62,600 for singles and $84,600 for couples.

If you have individual health insurance from the ACA marketplace and you plan to do Roth conversions, you may want to convert more money before the end of 2025 than in 2026, when the extra income may make you ineligible for the subsidy.

“For a retired client, we’ve been able to do about $100,000 of Roth conversions yearly with the enhanced premium tax credits,” says Mark Whitaker, a CFP and founder of Retirement Advice LLC, a fee-only financial planning firm in Provo, Utah.

“Going forward, to hit their ACA subsidy levels, they will only be able to do about $60,000 of Roth conversions a year.”

But be sure to consider other variables, too, such as your tax rate and other income cut-offs. (For more, see the section above on the bonus deduction for older people.)

UPDATES FOR FAMILIES

If you have kids at home, you may benefit from multiple provisions in the OBBBA.

More-generous tax credits for parents

The OBBBA permanently extends the child tax credit and increases it to $2,200 per child, up from $2,000. The credit phases out for singles with modified adjusted gross income of $200,000 or more and married couples who file jointly with MAGI of $400,000 or more.

The OBBBA also makes permanent a separate credit of up to $500 for families with other dependents, such as parents or adult relatives.

The adoption tax credit is more valuable, too. If you adopted a child this year, you can claim a credit for up to $17,280 in eligible expenses. Here’s what’s new: $5,000 of the tax credit will be refundable.

In other words, taxpayers with tax liability of less than $5,000 can still claim that portion of the credit, which means some of that amount could be returned to parents as a refund.

Starting in 2026, the maximum tax credit parents can claim for child and dependent care expenses, such as the cost of day care or a nanny, will increase to 50% of as much as $3,000 in expenses for one dependent and 50% of as much as $6,000 for two or more dependents (both up from 35%).

The credit decreases based on adjusted gross income to as little as 20% of expenses, but OBBBA increased the income thresholds. For married couples with AGI between $150,000 and $210,000, the credit ranges from 35% to 20%. Couples with AGI of $210,000 or more are eligible for a credit of 20% of expenses.

Expanded uses for 529s

Originally designed as a tax-advantaged way to save for college, 529 plans have been expanded over the past several years to permit tax-free withdrawals for certain non-college expenses, too. The OBBBA extends these uses even further.

“The new rules allow up to $20,000 per year to be used for elementary and secondary school tuition, course materials, tutoring, fees for standardized tests, and more,” says Robert Farrington, founder of the website The College Investor.

Previously, tax-free withdrawals of 529 money for K-12 students were limited to tuition, up to $10,000 annually.

The legislation also permits tax-free 529 withdrawals for certain other expenses, such as non-degree credential programs for plumbing, electrical, HVAC and some other trades; certification and licensing expenses; and continuing education required to maintain those licenses.

That means beneficiaries who don’t go to college will have additional ways to benefit from tax-advantaged 529s.

The law permanently allows rollovers from 529 plans to ABLE accounts, where the money can continue to grow tax-deferred for people with disabilities who may not go to college.

Most of the changes related to 529 distributions took effect as soon as the law was signed on July 4, although the increased, $20,000 annual limit for K-12 expenses doesn’t apply until the 2026 tax year.

Keep in mind that not all states have altered their rules to follow the federal expansion. “For example, California doesn’t allow 529 plans to be used for elementary or secondary school expenses,” says Farrington.

Trump accounts for kids

The OBBBA introduces a new investment account — known as a Trump account — for kids younger than 18, and the government will seed the account with $1,000 for children born between January 1, 2025, and December 31, 2028.

Parents and others can contribute up to $5,000 a year to the account until the child turns 18. Contributions are invested in a fund that tracks a broad U.S. stock index, and they grow tax-deferred.

You may have better options for your child’s long-term savings. Annual contributions are not tax-deductible, and earnings are taxed at the beneficiary’s income tax rates when withdrawn.

Unless the money is used for certain expenses, such as education or up to $10,000 for a first-time home purchase, you’ll have to pay a 10% early-withdrawal penalty before age 59½.

“The only advantage of Trump accounts is the $1,000 birthday gift for newborn children. Families should, of course, accept the free money,” says Mark Kantrowitz, a college-savings expert and author of How to Appeal for More Financial Aid.

But for your child’s future college expenses, you’re better off contributing to a 529 plan, because withdrawals for qualified educational expenses are tax-free.

LAST CHANCE TO CLAIM TAX CREDITS FOR THESE ENERGY-SAVING MOVES

The OBBBA speeds up the deadlines to take advantage of certain tax credits related to saving energy.

The Energy Efficient Home Improvement Credit, which provides a 30% tax credit toward the cost of energy-efficient windows, home energy audits, heat pumps and other energy-saving home improvements, was previously scheduled to phase out in 2033. (The law imposed annual limits for certain projects, such as $600 for exterior windows and skylights.)

But now, the credit expires at the end of 2025. The Residential Clean Energy Credit, which provides a tax credit of up to 30% for more-ambitious projects, such as solar electric panels and solar water heaters, will also expire on December 31. The equipment must be installed and operational by year-end to qualify for the credit.

Additionally, the $7,500 EV tax credit to buy or lease qualified electric vehicles, along with the $4,000 credit for eligible used EVs, ends September 30, 2025.

At the same time, however, the OBBBA provides a new tax break for car buyers: a deduction of up to $10,000 in interest on loans for cars purchased between 2025 and 2028.

You don’t have to itemize to claim this deduction, but it’s available only for loans taken out to buy new cars assembled in the U.S., which rules out many popular models. The deduction phases out for individuals earning more than $100,000 or married couples making more than $200,000.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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The new and improved form, which includes changes courtesy of the Big Beautiful Bill passed by Congress this summer, will become widely available for the 2026–27 college year on October 1, its traditional release date.

“The government has repaired all the problems from last year’s FAFSA fiasco,” says Mark Kantrowitz, an expert on student financial aid.

That’s good news for families hoping to score merit- or need-based aid for a college-bound student.

You’ll want to move quickly, though, because aid is often awarded on a first-come, first-served basis. Students who file the FAFSA within the first three months of its release get twice as many grants on average as students who file later, Kantrowitz says.

Changes to the FAFSA form

New to the form this year: an easier way for parents to enter financial information via a simple e-mail invitation from the student, rather than a requirement for the parent to establish a unique ID first.

If you create an account using your Social Security number, you will also now get immediate verification, compared with having to wait one to three days previously.

Plus, as a result of the One Big Beautiful Bill Act, you can once again exclude the net worth of a family-owned farm or small business and, for the first time, a family fishing business as well.

Other recent changes include a simplified form with fewer than 40 questions (down from more than 100) and an increase in the number of colleges to which students can send the application (now 20, up from 10).

Distributions from a grandparent-owned 529 plan also no longer affect a student’s aid eligibility, so families might consider rolling a parent-owned 529 plan over to a new 529 plan in the name of the student’s grandparent to boost aid eligibility.

FAFSA and reporting parental income

Another helpful strategy: Because the FAFSA also no longer considers contributions to a 401(k) or 403(b) account, “You can reduce the income you report on the FAFSA by maximizing pretax contributions to your retirement plan,” says Kantrowitz.

This strategy works best, he adds, if you start increasing your retirement contributions two years in advance of filing the FAFSA.

That’s because, while the FAFSA asks for the value of your bank accounts, 529 plans, investments and other assets as of the day you submit the form, it pulls income information from the tax return you filed two years before the academic year for which you’re seeking financial aid.

That means this October’s application, for the school year starting in 2026, will use information from your 2024 return.

What if your income drops after you’ve submitted your aid application? Says Kantrowitz, “You should always appeal for more financial aid if your financial circumstances change.”

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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They've come a long way from the early days of mobile. Now, they feature gigantic screens, rich graphics and functionality that simplifies many things you do online. One phone that illustrates this perfectly is the Samsung Galaxy Z Fold7.

I'll break down the phone's pros and cons, trade-in incentives and where you can receive the best deal on one. Armed with this information, you can determine if now is the time to switch to a foldable phone.

What I like about the Samsung Z Fold7

Let's start with the phone's pros. I really like the eight-inch screen size, as I always seem to be furrowing my eyebrows when reading on my Google Pixel 9 now. Not only does the screen size make it easier to read, but it creates an almost tablet-size screen that's perfect for streaming your favorite shows, playing mobile games or accessing apps on the go.

Another perk I enjoy is the storage. The Z Fold7 comes standard with 256 gigabytes (GB) of storage, though you can upgrade to 512GB for free through Samsung or go with the 1 terabyte (TB) option. If you have grandkids or nieces and nephews, you know how quickly your storage can fill up from pictures alone, so this feature separates it from flagship offerings on other Samsung and Google devices.

I also like the foldable design because it creates some security, and it's thinner and lighter than previous models. With the next-generation Snapdragon mobile processor, you receive a responsive and smooth experience, whether you're streaming, reading the news or taking pictures.

Therefore, if you're looking for a durable phone with a fast processor and a large screen, this could be the right device for you.

What are some challenges to consider?

When considering this or other foldable phones, the first con is cost. Because it's a phone with unique folding capabilities, it means you'll pay more than you would with other phone models. The Samsung Galaxy Z Fold7 is $1,999.99 for both the 256GB and the 512GB models.

However, you can lower your total costs. Samsung allows you to trade in your device and receive up to $1,000 in trade-in credits. The amount of credits depends on the phone you trade in.

To demonstrate, the iPhone 16 Pro Max earns you a trade-in credit of up to $750, while the Samsung Galaxy S25 Ultra will fetch you up to $1,000.

The other thing is that the phone, when folded, can be bulkier. This could create a George Costanza-like wallet for your pocket or purse.

Lastly, because it's a larger phone, it'll require more battery. Heavy users experience a run time of six to 10 hours between charges, depending on what you're doing.

Where can I find the best deals on foldable phones?

T-Mobile

Along with Samsung's generous trade-in offer, you should check out mobile carriers, as well. T-Mobile offers a trade-in credit of up to $1,000 via 24 billing credits when you trade in an eligible device and choose a qualifying plan.

Broken down, it means you'll only pay $1,099.99 plus tax, or you can make 24 monthly payments of $50 per month when you add a line.

Verizon

Another option is Verizon, which offers several different incentives. If you plan to buy more than one Z Fold7, they currently offer a buy one, get the second for $1,100 off when you choose the Select Unlimited plan for both new lines.

New and existing customers can receive half off the phone per line with the Unlimited Ultimate plan. This incentive allows customers to get the new phone for as low as $27.77 per month, with 36 bill credits of $27.78.

How does the Samsung Galaxy ZFold7 compare with other options?

Here's a breakdown of how the Galaxy ZFold7 compares with other top models:

As you can see, despite its higher costs, the Galaxy Z Fold7 punches above its weight in screen size, camera resolution and storage. Keep in mind if you buy with Samsung, you receive a free upgrade to 512GB.

Ultimately, the Samsung Galaxy Z Fold7 offers a lot of perks, such as a fast processor, an exceptional camera and a generous screen size. Moreover, you can earn a substantial discount by trading in a device with Samsung or with your mobile carrier.

That said, most foldable phones are expensive, bulky and won't retain the same battery life as regular devices. Therefore, these phones work best for those looking for a larger screen and a more responsive experience, who don't mind the bulk.

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Answer: If you're looking for a risk-free place to store your money, my best solution is a jumbo CD. Jumbo CDs come with FDIC insurance up to $250,000 and APYs that'll outpace inflation.

However, there are a few things you want to consider before signing up for one. I'll cover key considerations, how much you can earn and why now is the right time to get one.

How does a jumbo CD work?

A jumbo CD is a type of savings account that requires a large deposit, typically between $10,000 - $100,000. Similar to regular CDs, you'll open an account with an initial deposit and let it grow through its term.

If you need to withdraw it before the maturity date, you'll have to break your term. Doing so results in significant penalties, reducing the interest you'll earn on your investment. The longer your CD term is, the higher the penalties you'll incur.

What's beneficial about jumbo CDs is that they require shorter terms of six months to a year, so you'll have quick access back to your cash. Explore and compare options quickly using the tool below, powered by Bankrate:

Things to consider before signing up for one now

Along with making sure you can keep your money tied up in one place, you'll also want to shop around to ensure you're receiving the best rate of return.

Traditional banks usually cannot compete with online banks. Online banks don't have brick-and-mortar locations, meaning they don't have the overhead expenses, so they can offer more generous returns. While accessing your cash at the end of the term can be trickier, online banks allow you to transfer money to other accounts.

Keep in mind that many banks autorenew CDs. Set a reminder on your phone a week before the maturity date so you can explore other options, reinvest in the same CD, or cash out if rates are much lower.

Why should I sign up for one now?

The Federal Reserve issued its first rate cut of 2025 at its September meeting. When the Fed cuts rates, it lowers the returns savers can earn on all savings accounts, including jumbo CDs.

How much does a cut impact rates? Before the Fed meeting, My eBanc had a one-year jumbo CD with a 4.45% APY. After the cut, the rate is down to 4.15% APY. That 0.30 percentage-point dip may not sound like much, but on a $150,000 deposit, it’s the difference between earning $6,675 and $6,225 over 12 months — a $450 gap.

While many savings products fall when the Fed lowers rates, CDs stand out because their interest rates are fixed. That means locking in a jumbo CD now protects your return when the Fed cuts rates again, which they're projected to do this week at its October meeting.

Therefore, locking in a rate now ensures you're maximizing your savings potential, without any of the risks that the stock market offers. While you might not be able to earn as much as you would with investments, jumbo CDs can deliver substantial returns.

How much can I make with a jumbo CD?

One of our top choices is Finworth. Finworth offers a six-month jumbo CD with a generous APY of 4.10%. Parking your $150,000 there for six months earns you $3,557.44 in earned interest. Not bad for a short investment.

A longer-term option is Prime Alliance Bank. It offers a one-year jumbo CD with a 4.15% APY. Depositing $150,000 into it earns you $6,225 in one year.

On the fence about which terms sound the best for you? My solution is to find what works best for your financial goals.

If you don’t need access to your money for a while, consider locking it into the longest jumbo CD available. Doing so guarantees you earn the highest rates of return to maximize yields.

Meanwhile, if you're unsure about tying up your money that long, opt for a short-term option. I often use short-term CDs as a way to stay on track with savings goals, and they consistently help me achieve them.

Ultimately, while savings APYs took a slight dip from the Fed cutting rates, you can still earn an exceptional return with a jumbo CD. With rates around 4% for both short-term and longer-term options, you'll earn thousands of dollars effortlessly with a $150,000 deposit.

The key is to lock them in now before the Fed cuts rates again this week. If you do, you'll stay ahead of inflation while having access to your cash quickly, which you can reinvest in another CD or consider other options that work best for your financial goals.

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This happened to Ken Huening, CEO of CoverSeal, on two occasions. "My BMW i8 was eaten twice. I tried dryer sheets, rodent traps, and other solutions, but none of them worked." On one of these occasions, it cost $18,000 to repair his vehicle.

And if you don't have the right insurance coverage, you could be on the hook for this bill. That's why, with Ken's help, we'll cover some tips to help you protect your vehicle from a rodent harvest. I'll also include insurance tips to ensure you have the financial protection you need.

Why do rodents use vehicles?

"Rodents use vehicles to hide from predators," remarks Huening. Once they find a safe hiding spot, they use it to eat, have babies and leave droppings. These droppings are scent breadcrumbs they'll use to return to the scene of the crime.

As rodents develop, so do their teeth. And they need to gnaw on something to keep their teeth from becoming too big, or else they won't be able to eat.

Since many rodents house themselves in battery or engine compartments, it's only natural that they find wires to chew on. They'll also chew on wires and other components to make way for their family members, which sounds cute on the surface, until you receive the repair bill.

"The average cost of a rodent repair bill is $2,500," Huening added. However, if you have a foreign or luxury vehicle, components are harder to replace, meaning you could easily add another zero to that repair bill.

Moreover, it can take months to complete the repair process. In some cases, that can extend to a year if parts are difficult to find.

Therefore, if you plan to travel this winter, knowing how to protect your vehicle is essential.

Rodent-proof your ride. Here's how.

Fortunately, with a few preventative measures, you can lower the risk of costly damage and keep your car safe while you’re away.

Best practices for storing your car inside

If you plan to park your vehicle indoors, Ken has a few tips to help. "The first of which is to pop your hood some. Rodents don't like being exposed for fear of being found by predators, so popping your hood can prevent them from using it as a nest."

The second tip is to seal your garage door. Doing so creates a barrier that doesn't allow rodents to enter in the first place. How do you seal it? You can use foam weather stripping to seal any cracks or holes.

It's also vital not to store any food in your garage, as that's like a neon welcome sign to usher them in.

Best practices for storing your car outside

Meanwhile, if you plan to store your vehicle outdoors, location is paramount. "You don't want to park your vehicle near a food tree because what happens is animals forage for food, then take it somewhere safe to eat. And if your vehicle is nearby, it creates the perfect nest for them," added Ken.

Other places to refrain from parking your vehicle include sewer drains or near downspouts, which are rodent superhighways. Similar to indoors, you can pop the hood to keep rodents out, but then the weather becomes another concern. Therefore, the smartest approach is to keep your vehicle away from areas where animals gather.

You can also use a car capsule. These are like a snowglobe for your car that'll protect it from any intrusions.

Lastly, you can also consider a car cover. Reputable car covers provide 360-degree protection with a weighted bottom to ensure it stays on your vehicle, whether you're gone one day or one year. They prevent pest intrusions to keep your car in showroom quality upon your return.

This is important too because rodent damage can impact another aspect of your finances.

Add another barrier of protection with the right car insurance policy

Rodent damage has become a billion-dollar problem for the insurance industry. Ken remarked, "Insurance companies are modifying their comprehensive policies away from covering vehicle damage from animals."

It means it's vital to check with your insurance carrier to ensure your comprehensive coverage includes animal damage. If it doesn't, then you'll want to shop around with other carriers.

You can do so quickly using the tool below, powered by Bankrate:

Another consideration is your deductible. Your deductible is the amount you must pay before your insurance carrier satisfies its portion of the claim. You want to strike a balance between maintaining affordable premiums and being able to pay out-of-pocket to settle your deductible.

Ultimately, rodent damage can happen to your vehicle whether you're traveling somewhere warm for the winter or just leaving it outside. Ken's Bentley incurred damage from rats within a day. Therefore, it's vital to consider the location where you park your vehicle and buy a proper cover or capsule to keep it protected.

What's more, make sure to examine your insurance policy, as some carriers are discontinuing coverage due to animal damage. Doing these things ahead of time can keep your vehicle safe and give you peace of mind when you travel over the winter.

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1. When does the tax credit for solar panels expire?

Question: I'm planning to install solar panels in my house. I heard that the “One Big Beautiful Bill” (OBBB) is ending the federal income tax break for this. When does the tax credit expire?

Joy Taylor: The residential clean-energy credit is a nonrefundable income tax credit for people who install an energy system in their home that relies on a renewable energy source, such as solar. Solar panels and solar electric equipment are eligible for the credit, whether they are installed in a primary residence or vacation home. The tax credit is equal to 30% of the cost of equipment and installation, with no maximum dollar limit.

Under the OBBB, the residential clean-energy credit ends after this year. More specifically, it is repealed for property placed in service after December 31, 2025. Paying for the solar panels before January 1, 2026, is not enough to secure the credit. You will need to pay for them and get them installed by the end of 2025.

2. Can I carry over tax credits?

Question: I installed solar panels in my house earlier this year, and I think the tax credit I am eligible for will be less than the federal income tax that I will owe for 2025, so I plan to carry forward the credit to 2026. Now that the credit is repealed as of Dec. 31, if I don’t use up the full credit amount on my 2025 tax return, can I carry over the excess to next year or do I lose it?

Joy Taylor: The residential clean-energy credit for solar panel installation in your home is not a refundable credit. It can only be used to reduce the amount of income tax owed. If the credit exceeds your tax liability, the IRS won’t refund you the difference. Instead, any unused portion of the tax credit can be carried over to future tax years.

It seems to me that since you paid for and installed the solar panels in your home in 2025, you are entitled to the full tax credit, even if you can’t use the full amount on your 2025 tax return and have to carry forward any unused excess credit to future years. That’s because the credit is repealed for property placed in service after December 31, 2025, and you paid for and completed the installation before this date.

3. Is there a tax credit for a new central air system?

Question: I am thinking about replacing my central air conditioning system in my home with a new, energy-efficient model. Is there a federal income tax credit for this upgrade?

Joy Taylor: Yes, but you must install the new model in your home and pay for it by December 31, 2025 if you want a tax credit.

The energy efficient home improvement credit is for homeowners who install smaller home energy-saving upgrades, such as heat pumps, exterior doors and windows, central air-conditioning systems and boilers. Like the larger residential clean energy credit discussed above, the energy-efficient home improvement credit ends after this year, thanks to the OBBB. More specifically, it is repealed for property placed in service after December 31, 2025. Paying for the new central air conditioning system and installation fee before January 1, 2026, is not enough to secure the credit. You will need to pay for it and get it installed in your home by the end of this year.

The basic credit is 30% of the cost and installation of certain types of insulation, boilers, central air-conditioning systems, water heaters, heat pumps, exterior doors and windows, etc., that you put into your home. These items must also meet certain energy-efficiency requirements, depending on the product. There is a $1,200 general aggregate annual credit limit. But many specific upgrades have lower monetary credit limits and others have higher ones. Here are the item-by-item yearly caps:

• $150 for a home-energy audit
• $500 in aggregate for exterior doors (a maximum of $250 per door)
• $600 for exterior windows or skylights; natural gas, propane or oil water heaters; electric panels; central air conditioners; or natural gas, propane or oil furnaces or boilers
• $2,000 for biomass stoves or biomass boilers; electric or natural gas heat pump water heaters; or electric or natural gas heat pumps

4. How do caps work with multiple energy-saving upgrades?

Question: I know that there are monetary caps for specific items that qualify for the energy efficient home improvement credit. Can you explain how these caps work if you install multiple energy-efficient upgrades in your home at the same time?

Joy Taylor: Here are two examples that illustrate how the various credit limits baked into the energy efficient home improvement credit work. Let’s say that in 2025, you purchase and install in your home two exterior doors at a cost of $1,000 each, windows and skylights at a total cost of $2,200, and a $6,000 central air conditioner. Let’s assume for this purpose that each of these upgrades meet the energy-efficiency requirements for taking the credit. Your 2025 tax credit amount is $1,200. Now, change the facts. In 2025, you purchase and install in your home a natural gas heat pump that costs $7,000, a $4,000 natural gas tankless water heater, and a $6,000 central air conditioner. Again, let’s assume that each of these upgrades meet the energy-efficiency requirements. Your total maximum credit is $3,200 -- $2,000 for the heat pump. $600 for the water heater and $600 for the air conditioner.

About Ask the Editor, Tax Edition

Subscribers of The Kiplinger Tax Letter, The Kiplinger Letter and The Kiplinger Retirement Report can ask Joy questions about tax topics. You'll find full details of how to submit questions in each publication.
Subscribe to The Kiplinger Tax Letter, The Kiplinger Letter or The Kiplinger Retirement Report.

We have already received many questions from readers on topics related to tax changes in the OBBB and more. We will continue to answer these in future Ask the Editor round-ups. So keep those questions coming!

Not all questions submitted will be published, and some may be condensed and/or combined with other similar questions and answers, as required editorially. The answers provided by our editors and experts, in this Q&A series, are for general informational purposes only. While we take reasonable precautions to ensure we provide accurate answers to your questions, this information does not and is not intended to, constitute independent financial, legal, or tax advice. You should not act, or refrain from acting, based on any information provided in this feature. You should consult with a financial or tax advisor regarding any questions you may have in relation to the matters discussed in this article.

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If you want to know how much you need to save each month to reach your financial goal, use our simple calculator that helps you create a realistic monthly savings plan to reach your target goal.

Work through each section, factoring in your current savings, your target timeline and the interest rate you expect to achieve.

Return and repeat this exercise as much as you need to track your savings goals.

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If you're sitting on $40,000 and want a risk-free way to grow your money, CDs and high-yield savings accounts are smart options to consider. Both offer you guaranteed returns thanks to FDIC protection up to $250,000.

With these things in mind, here's how much you can earn by saving $40,000 with each account. I also cover the three things you should consider before setting up an account, and which option works best for different risk profiles.

How much can you earn with a $40,000 deposit?

Let's start with why so many savers turn to these two options: They generate a healthy return effortlessly. If you were to open a high-yield savings account with one of our top choices, Newtek Bank, you would earn a 4.35% APY.

Now, that's sure to drop in the near future if the Fed starts cutting rates. However, even with a slight dip, you'll still outpace inflation. And if you store $40,000 in this account, here's how much you can earn in interest with the 4.35% APY:

• 1 year: $1,750
• 2 years: $3,559.69
• 3 years: $5,450.36
• 4 years: $7,427.25
• 5 years: $9,490.55

Therefore, you can earn almost $9,500 effortlessly by parking your money in a high-yield savings account for five years. If Newtek Bank isn't the right choice for you, you can use this Bankrate tool to find savings options that align with your needs:

Now, let's turn our attention to CDs. The best CD rates are usually short-term, think six months to a year. You can also earn a robust return on long-term CDs. Lafayette Federal Credit Union offers a five-year CD with a 4.28% APY.

If you put $40,000 in a five-year CD with Lafayette, you could earn $9,324.77 in interest for doing nothing. It isn't as much as you would earn with a high-yield savings account on the surface, but CDs also have another perk we'll discuss in a minute.

If you don't want to lock in a long-term CD, you can shop for the best options using this Bankrate tool.

Before signing up for either account, here are three things smart savers should know.

1. APYs will change

With the Federal Reserve potentially cutting interest rates, it lowers the returns you'll earn on a CD or high-yield savings account. The difference is that with a CD, you can lock in your rate now and maintain it through the term. CDs feature fixed interest rates, so if the Fed cuts rates again in the future, locking one in now maximizes your returns.

Meanwhile, high-yield savings accounts feature variable interest rates. It means if the Fed follows with another rate cut, it will lower how much you can earn.

APYs are not the only thing to consider when choosing between these accounts. Another option concerns how comfortable you are with not having access to your cash.

2. Do you need liquidity?

Typically, my savings strategy involves keeping my emergency fund in a high-yield savings account. That way, if an emergency arises, I can transfer funds and have quick access to my money.

CDs don't share that same luxury. The term you lock in the bank expects you to fulfill. I use CDs for short-term savings goals because they can keep you on track since you can't withdraw your money without a penalty.

If you haven't used CDs before, here's what I recommend: Start by tucking some money away in a short-term one, think three to six months. Doing so allows you to maximize returns while rates are still high and you'll have quick access back to your cash.

Another option is to consider a no-penalty CD. As its name implies, you can withdraw money once you reach the vesting period. Depending on the bank, it is usually one week to one month after you open it.

3. How long are your savings goals?

Another key consideration is how long you want to store your money in one of these accounts. With high-yield savings accounts, you're free to make changes anytime you need to, whether it's one month or 10 years into the future.

That's a nice perk to have, as you can pivot to other strategies fast. The same doesn't apply to CDs.

Unless you choose a no-penalty CD, you're locked into your term. The good news is you don't have to worry about your rates changing, but you're also sacrificing access to that money until your term expires.

Say you lock in a five-year CD, but in year three want to move more of your money to an investment account. With a CD, you can do so, but breaking it open requires months of interest earned in penalty fees, losing you money in the process.

Therefore, pay close attention to your savings goals and ensure the account you choose meets them.

What's the best savings strategy for me?

It depends on your needs and savings goals. This table breaks down how each account differs:

High-yield savings accounts are for short-term savers who want to build an emergency fund or need quick access to their cash. CDs work best for established savers looking to park a chunk of their money and forget about it until the term expires.

In either case, both of these accounts can help you reach your savings goals. The key is paying attention to your savings needs and choosing the right account to match them. Doing so helps you outpace inflation while earning a robust return.

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On this front, streaming services come into play. They're easy to set up, and you can tailor options to best suit your viewing needs. However, this comes at a significant cost.

The New York Times found the average NFL fan will spend up to $631 to stream games this year. They came to this total by factoring in the following:

• Live-streaming service, such as YouTube TV, for around $90 per month ($540 six-month cost)
• Amazon Prime for Thursday night games at $15 per month ($75 for five months of games)
• Netflix ad-supported plan for Christmas games for $8
• Peacock for special access to a Sunday night game in December for $11 per month

Combined, that total will run you $634, and that doesn't count any add-on packages such as NFL Sunday Ticket.

With this in mind, I wanted to see what other sports would cost to stream. I'll provide easy tips to employ that'll help you save on streaming services.

How much will it cost to stream other sports?

Using the same framework for calculating NFL streaming costs, we can apply a similar breakdown for NBA fans:

• Live streaming services: $90 per month for nine months, including playoffs and the NBA Finals: $810
• NBA League Pass (to cover games not on ESPN, TNT or other networks): $90 annually

Tally this up, and it's around $900 to stream a full season of NBA games. I used NBA League Pass as an example, since it's easier for out-of-market fans to catch games.

Meanwhile, MLB fans will feel a similar financial pinch. You'll have six months of action with a live streaming service for $90 per month or $540 per year.

Next, if you're an avid fan wanting to stream as many games as possible, you'll likely want MLB.TV, where a single team plan for a full season is $140. Combined, you're on the hook for $680.

Since each sport can cost you upwards of more than $500, it's important to find cost-saving measures where you can. Thankfully, there are some great streaming deals available.

Streaming deals to ease the pain

I'm an avid sports fan, and even I can't keep up with all the streaming offers one would need to stream every game. That's why I stick with YouTube TV. It's expensive at $82.99 per month, but it covers all the major games I want to see from all major sports, without the need to add another platform or package.

However, if you don't want to spend that much, there are more affordable choices. Chief among them is Sling TV.

They have packages starting from $46 per month, or if you want to watch a day of games, you can buy the day pass for $4.99. It includes 24-hour access to 34 channels, including ESPN and TNT.

Another option is Paramount Plus. With it, you can stream NFL, college football and basketball, golf and other sports live. Right now is the best time to sign up for the service, as you can receive 50% annual plans through September 18.

A pro tip: Sign up for the Paramount Plus Premium Plan for $59.99 per year, as it includes free live streaming of your local CBS content.

You can also use other streaming services to catch sports live. Peacock offers select college football and basketball games, NFL Sunday night football, Premier League matches, PGA tournaments and much more.

Want to save even more money? Sign up for a Walmart Plus membership, which gives you a choice of either Paramount Plus or Peacock's ad-supported plan for free.

At $98 a year, it's less expensive than Amazon Prime; you'll earn discounts on gas and Burger King, and you can switch streaming services every 90 days.

Things to consider with streaming sports

The first of which is blackout restrictions, which can happen quite often. Why do blackouts happen? To make TV networks money by forcing local fans to either attend games live or buy another package to stream games.

This is why it's important to check blackout restrictions when signing up for streaming services. Some, such as NBA League Pass, allow you to enter your ZIP code to show which teams might have blackout restrictions in your area.

A cost-saving measure is family accounts. Some services, such as YouTube TV, allow you to share your subscription with other users. If costs are a concern, you can always split the bill and the subscription, provided your streaming service allows you to.

Another cost-saving tip is to rotate services as sports seasons change, or better yet, do away with one when you don't need it anymore. Streaming services, unlike many cable companies, make cancelling services simple. You can restart them anytime you need to.

Finally, if you're looking to stream some games but don't want to pay for any services, buy a digital antenna. All the major sports leagues broadcast games on local channels, such as ABC, NBC, Fox and CBS.

Doing so means you'll pay out of pocket once for the antenna, but you won't be on the hook for a monthly bill.

Overall, it's never been more convenient or expensive to be a sports fan. The goal is to strike a balance between securing coverage for the games you want, while not sacrificing the budget in the meantime.

Thankfully, there are plenty of ways to achieve this. Whether it's through choosing a standalone live streaming service, rotating multiple ones or buying a digital antenna, there are ample ways to enjoy live sports while saving money.

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