Full Show: Costco & Sam's Club News Alert and Why You Probably Need a Generator
Education
Introduction
Introduction
It's great to have you here on the Clark Howard Show. Our mission is to serve you with advice and information that empowers you to make better financial decisions in your life. Today, we need to discuss some changes happening at Costco and Sam's Club, and the increasing problem of power outages in the United States and how you can be prepared without spending a fortune.
Sam's Club Changes
Sam's Club has decided to adjust its free delivery service. The premium membership known as Plus, which previously offered no-cost delivery, will now require a $ 50 minimum order and only certain items will qualify. This change is due to Sam's inability to make the free delivery service profitable.
Costco Membership Fee Increase
Costco has raised its membership fees for the first time since 2017. The base membership fee has increased from $ 60 to $ 65, and the premium executive membership has gone from $ 120 to $ 130. The increase will take effect in late August, but members can renew early at the old rate until mid-November.
Additionally, Costco has started implementing stricter measures to prevent non-members from using borrowed membership cards. Some locations now require scanning in at the door, which displays a picture of the member for verification.
Power Outages and Preparedness
Power outages, like those recently experienced in Texas, are becoming more frequent due to intensified storms and changes in power distribution. For those on a budget and unable to afford high-end natural gas generators, more affordable options such as backup battery generators are becoming available.
These portable battery generators, often supplemented with solar panels, offer a practical solution to keep essentials like medical equipment, refrigerators, lights, and zoned air conditioning running during outages. Costco and other retailers frequently offer deals on these products, making them a viable option for many households.
Financial Advice Questions
Setting Up a Savings Account for a Child
A listener from Ohio asked about setting up a savings account for a 9-year-old. Fidelity Investments is recommended for its custodial accounts and low-cost investment options. Their zero-fee index funds are especially beneficial for young savers.
Finding a Fiduciary Financial Advisor
A listener from Wisconsin expressed concerns about finding a competent fiduciary financial advisor. It's crucial to verify that the advisor charges fees rather than commissions and to ensure they are truly acting in your best interest.
Appliance Shopping and Extended Warranties
A listener from Georgia inquired about purchasing appliances and the value of extended warranties. Consumer Reports is the go-to source for reliable appliance reviews, and extended warranties are usually not worth the extra cost.
Conclusion
We covered essential updates from Costco and Sam's Club, discussed the increasing issue of power outages, and shared valuable financial advice on savings accounts and appliance shopping. Remember, our goal is to help you save more, spend less, and avoid getting ripped off.
Keywords
- Costco Membership Fee Increase
- Sam's Club Delivery Changes
- Power Outages
- Backup Battery Generators
- Financial Advisor Fiduciary
- Consumer Reports Appliances
- Savings Accounts for Kids
- Extended Warranties Appliances
FAQs
Q: What are the new membership fees for Costco?
A: The base membership fee has increased to $ 65, and the premium executive membership fee has increased to $ 130.
Q: What changes are happening to Sam's Club's delivery service?
A: Sam's Club will now require a $ 50 minimum order for free delivery, and only certain items will qualify.
Q: What's a cost-effective solution for power outages?
A: Backup battery generators are a more affordable option compared to high-end natural gas generators and can keep essential devices running during outages.
Q: Where can I find reliable reviews for purchasing new appliances?
A: Consumer Reports is a highly recommended source for thorough and reliable appliance reviews.
Q: Are extended warranties for appliances worth it?
A: Generally, extended warranties are not worth the extra cost as they often serve to increase the retailer's profit rather than providing substantial benefit to the consumer.