Tamila McDonald

Is The Stock Market Open on Labor Day 2019?

August 23, 2019 By Tamila McDonald Leave a Comment

Monday, September 2, 2019, is Labor Day, a federal holiday that recognizes the achievements of the American workforce. Many people get the day off of work, leading many places to close for the day. However, not all organizations recognize every federal holiday by closing. The stock markets have full control over their schedules, so they do not have to shut down just because government agencies do. However, many stock market holidays align with federal holidays. Here’s what you need to know if you are wondering is the stock market open on Labor Day.

Is the Stock Market Open on Labor Day?

No, the US stock market is not open on Labor Day. While the New York Stock Exchange (NYSE) and NASDAQ are usually open on Mondays, they both follow the same holiday schedule and will close on Labor Day in recognition of the holiday.

Additionally, the stock markets are not open on Saturday, August 31, or Sunday, September 1, as they traditional close on weekends. If you need to complete any trades before the holiday, you need to handle them no later than Friday, August 30. Otherwise, you won’t be able to complete your trades until the stock market resumes operations on Tuesday, September 3.

Is the Bond Market Open on Labor Day?

While the SIFMA bond market uses its own holiday schedule, it is also closed on Labor Day. Additionally, like the NYSE and NASDAQ, the bond market closes during weekends. If you need to complete transactions, you must handle them no later than Friday, August 30, if you want them to process before the holiday weekend.

Like the NYSE and NASDAQ, the bond market resumes its normal operating hours on Tuesday, September 3.

Do the US Markets Have Reduced Hours Before the Labor Day Holiday?

While the NYSE, NASDAQ, and bond markets do occasionally close early on the business day before a holiday, that doesn’t occur for Labor Day. There will not be reduced hours on Friday, August 30.

Are International Stock Markets Open on Labor Day?

September 2 is only a holiday in the US, so other countries do not recognize it with a closure. This means that Asian and European markets are usually open on Labor Day.

There are instances when US and some international markets close on the same days. For example, multiple markets close on December 25 in recognition of Christmas, though not all of them do.

Foreign stock markets also maintain their own holiday schedules. As a result, there are times when an international market is not open when the US markets area.

US Stock Market Holiday Schedule 2019

The NYSE and NASDAQ follow the same holiday schedule. The only time one of those markets will be open while the other is closed is when just one system experiences an unexpected technical issue.

Here is an overview of the 2019 US Stock Market holiday closure and short-days schedule:

New Year’s Day – NYSE and Nasdaq are closed on Tuesday, January 1
Martin Luther King, Jr. Day – NYSE and Nasdaq are closed on Monday, January 21,
Washington’s Birthday (President’s Day) – NYSE and Nasdaq are closed on Monday, February 18
Good Friday – NYSE and Nasdaq are closed on Friday, April 19
Memorial Day – NYSE and Nasdaq are closed on Monday, May 27
Day Before Independence Day – NYSE and Nasdaq close early at 1:00 pm EDT on Wednesday, July 3
Independence Day – NYSE and Nasdaq are closed on Thursday, July 4
Labor Day – NYSE and Nasdaq are closed on Monday, September 2
Thanksgiving – NYSE and Nasdaq are closed on Thursday, November 28
Day After Thanksgiving – NYSE and Nasdaq close early at 1:00 pm EDT on Friday, November 29
Christmas Eve – NYSE and Nasdaq close early at 1:00 pm EDT on Tuesday, December 24
Christmas Day – NYSE and Nasdaq are closed on Wednesday, December 25

While many of the stock market closures line up with federal holidays, there are two federal holidays where the stock markets are open: Columbus Day and Veterans Day.

Additionally, the stock markets close on Good Friday, even though it isn’t a federal holiday. Some of the short days are similarly not on the federal holiday schedule.

2019 SIFMA Holiday Schedule

The US bond markets have their own holiday schedule. While many of the days do align with the NYSE and NASDAQ closures, there are also some differences.

Here is a look at the 2019 SIMFA holiday schedule:

New Year’s Day – SIFMA is closed on Tuesday, January 1,
Martin Luther King, Jr. Day – SIFMA is closed on Monday, January 21
Washington’s Birthday (President’s Day) – SIFMA is closed on Monday, February 18
Day Before Good Friday – SIFMA closes early at 2:00 pm ET on Thursday, April 18
Good Friday – SIFMA is closed on Friday, April 19
Friday Before Memorial Day Weekend – SIFMA is closed on Friday, May 24
Memorial Day – SIFMA is closed on Monday, May 27
Day Before Independence Day – SIFMA closes early at 2:00 pm ET on Wednesday, July 3
Independence Day – SIFMA is closed on Thursday, July 4
Labor Day – SIFMA is closed on Monday, September 2
Columbus Day – SIFMA is closed on Monday, October 14
Veterans Day – SIFMA is closed on Monday, November 11
Thursday, November 28, Thanksgiving – SIFMA is closed on
Day After Thanksgiving – SIFMA closes early at 2:00 pm ET on Friday, November 29
Christmas Eve – SIFMA closes early at 2:00 pm ET on Tuesday, December 24
Christmas Day – SIFMA is closed on Wednesday, December 25
New Year’s Eve – SIFMA closes early at 2:00 pm ET on Tuesday, December 31

The SIFMA does close more often than the NYSE and NASDAQ, including on Columbus Day and Veterans Day.

Have you ever wanted to trade on the stock market during a holiday only to find that it wasn’t open? Share your thoughts in the comments below.

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New Costco Locations for 2019 — UPDATED

August 21, 2019 By Tamila McDonald 77 Comments

Costco has been expanding and has plans to continue doing so for the next few years. While information about new Costco locations tends to be limited, partially because of the complex agreements that have to be handled with the various cities, some details are available.

New Costco Locations in 2019

Costco does have seven more locations that are slated to open throughout the remainder of 2019, including:

Bradenton, Florida – August 2019
Sharpsburg, Georgia – August 2019
Loves Park, IL – August 2019
Minhang, China – August 2019
Dallas, Texas Business Center – September 2019
East Lyme, Connecticut – November 2019
Eagan, Minnesota – November 2019

These new stores join many other recent Costco openings. The following locations were originally slated to open before August 2019:

Coral Springs, Florida – February 2019
Hanam, South Korea – April 2019
Ipswich, Australia – May 2019
Oklahoma City, Oklahoma – May 2019
Mooresville, North Carolina – June 2019
Evansville, Indiana – June 2019
Cloud, Minnesota – June 2019
Cypress, Texas – July 2019
Stevenage, United Kingdom – July 2019

Initially, the Dallas, Texas Business Center location was slated to open in July 2019, though the date has since been updated to September. Any of the new Costco locations that are scheduled to open this year may see their dates change, as a variety of factors can delay openings or lead to cancellations.

Possible New Costco Locations

There are a variety of other Costco potential locations in the works, though it isn’t clear whether they will come to fruition. For example, a Harrison, New Jersey Costco might open its doors during this calendar year, though that isn’t guaranteed.

Additionally, Costco has additional cities that are proposed or in the initial planning phases. These could open as late as 2022, suggesting they move forward:

Murietta, California
Napa California
Pleasanton, California
Branford, Connecticut
Clinton, Connecticut
Athens, Georgia
Meridian, Idaho
Plainfield, Illinois
University City, Missouri
Ridgeland, Mississippi
Cherry Hill, New Jersey
Patterson, New York
Bismarck, North Dakota
Cranston, Rhode Island
Bluffton, South Carolina
Dallas, Texas
El Paso, Texas
McKinney, Texas
Sherman, Texas

Costco Locations in 2018

Costco also planned to open around 20 stores in 2018. These locations included:

Lindavista, Mexico – February 2018
Daegu Innovation City, South Korea – March 2018
Bonney Lake, Washington – May 2018
Thorncliffe Park, Ontario, Canada – June 2018
Minneapolis, Minnesota – June 2018
Eastvale, California – June 2018
Ukiah, California – July 2018
Pleasant, South Carolina – August 2018
Woodstock Georgia – August 2018
Nisku, Alberta, Canada – August 2018
Villahermosa, Mexico – August 2018
Epping, Australia – August 2018
Sejong, South Korea – August 2018
Owings Mills, Maryland – September 2018
Elk Grove, California – September 2018
Webster, Texas – October 2018
Davenport, Iowa – October 2018
Regina, Saskatchewan, Canada – October 2018
Fairbanks, Alaska – November 2019

Finding Your Nearest Costco

By using the store locator feature on Costco’s website, you can find out which locations are closest to you. In total, there are 770 Costco stores throughout the world, about 235 of which are outside of the United States.

533 Costco stores are spread across 44 states as well as Puerto Rico. 100 of the locations are in Canada, 39 are in Mexico, 28 are in the United Kingdom, 26 are in Japan, 15 are in South Korea, 13 are in Taiwan, 10 are in Australia, two are in Spain, one is in France, and one is in Iceland.

In total, there are about 90.3 million Costco members worldwide, and about 205,000 people are employed by the company.

Costco Warehouse Store Operating Hours

While operating hours can vary somewhat from one Costco to the next, most follow a very similar schedule. Here is a look at the typical Costco warehouse location’s business hours:

United States

Monday through Friday: 10:00 am to 8:30 pm
Saturday: 9:30 am to 6:00 pm
Sunday: 10:00 am to 6:00 pm

Canada

Monday through Friday: 10:00 am to 8:30 pm
Saturday: 9:30 am to 6:00 pm (Quebec and Ottawa: 9:00 am to 6:00 pm)
Sunday: 10:00 am to 5:00 pm (Saint John 12:00 pm to 5:00 pm)

United Kingdom

Trade Members – Monday through Friday: 10:00 am to 8:30 pm
Individual Members – Monday through Friday: 12:00 pm to 8:30 pm
Saturday: 9:30 am to 6:30 pm
Sunday: 11:00 am to 5:00 pm

Australia

Monday through Friday: 10:00 am to 8:30 pm
Saturday: 9:30 am to 6:30 pm
Sunday: 10:00 am to 5:00 pm

Costco Holiday Closures

It is important to note that Costco does close on some holidays. In the US, this includes:

New Year’s Day
Easter Sunday
Memorial Day
Independence Day
Labor Day
Thanksgiving Day
Christmas Day

Additionally, the retailer uses a reduced operating schedule on both Christmas Eve and New Year’s Eve. Usually, this means that the Costco stores will close at 6:00 pm instead of the typical 8:30 pm.

Holiday schedules do vary by country, so those living outside of the United States will not necessarily see the same closure days as listed above.

Have you shopped at one of the new Costco locations? Are you looking forward to a new Costco that is coming to your area? Do you wish a Costco would open near your home? Share your thoughts in the comments below.

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How Money Issues Kill Marriage

August 16, 2019 By Tamila McDonald Leave a Comment

In 2017, based on data from the CDC, there were more than 787,000 divorces and annulments in the US during that year alone. One study that asked divorcing parents why their relationship ended saw 40 percent of the participants cite issues with how their spouse handled money as a major factor.

Money Issues in Marriage and Divorce

Disagreements about money or general economic stress can lead to increasing levels of conflict in a marriage. As a result, money issues can essentially kill the relationship. Which leads the couple to opt for a divorce. By understanding how money issues impact a marriage, you can take steps to address problems before they lead to a separation. Here’s a look at the most common financial problems people encounter in marriages and how you can handle the situations.

Issues of Expense Management

If both spouses earn an income, coming up with a reasonable way to split expenses can be challenging. At times, one spouse may feel that the arrangement isn’t fair, creating an air of resentment if they feel that they are shouldering more of the burden than is due.

For example, if a couple initially agrees to split household expenses down the middle, but one earns substantially less than the other, conflict can arise. The spouse with the lower income may believe that they are getting the worse end of the stick, as their spending power is limited by a larger degree.

In some cases, this can be mitigated by adjusting the allocations. Using a percentage-based approach may make it feel more equitable. However, this can also lead to issues if the higher earner perceives this option as a punishment for making more money.

Additionally, splitting income and expenses can make joint planning more difficult. It may be hard to determine how things should work if one spouse loses their job unexpectedly or wants to quit their position to pursue something else, whether that be a new career, more education, or starting a family.

Problems with Debt

Debt can be a contentious topic. Many adults bring financial baggage into a marriage since they likely have debts that they are bringing with them into the relationship. If one spouse has negative feelings about the other’s debt load, this can lead to conflict.

Similarly, disagreements about joint debt can harm a marriage. For example, if one spouse maxes out a credit card without the others knowledge, this can feel like a significant breach of trust. Further, if the rising debt total hinders other financial goals, resentment can build as one spouse makes it difficult for the other to feel financially secure.

Finally, large amounts of debt puts a strain on the household. This is true even in situations where both spouses believe the debt was necessary or unavoidable. Fear about a lack of financial well-being increases tension. A lack of liquidity can also harm the household’s quality of life, something that can breed frustration and lead to more stress.

Conflicting Money Management Personalities

In some cases, one spouse is a “spender” while the other is a “saver.” They have different money management personalities, impacting their priorities, and influencing their spending patterns in ways that don’t always make sense to their spouse.

Even if a couple is debt-free, conflicting viewpoints on money can cause strife. One may view the other as a cheapskate while the other sees the first as being irresponsible.

Addressing Money Issues Before Divorce

In many cases, the best way to prevent money issues from leading to a divorce is to talk about money frequently. Have in-depth discussions about debt, savings goals, spending patterns, and other aspects that may cause conflict.

By listening to each other and planning together, you can seek out a happy medium. You can align your priorities so that each spouse gets some of what they need, and everything feels fair.

Without money conversations, financial issues will quickly damage even the strongest of marriages. As a result, having a monthly or quarterly discuss is critical if you want to avoid divorce.

Have you had money issues in marriage before? Do you think financial problems led to your divorce? Tell us about your experience in the comments below.

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FTC’s Latest Scam Alerts – How They Work

August 15, 2019 By Tamila McDonald Leave a Comment

The Federal Trade Commission (FTC) tracks scams, looking for emerging trends and monitoring existing patterns to help stop scammers from harming the public. Additionally, the FTC publishes scam alerts, ensuring the population knows about the latest tricks and how to protect themselves from scammers. With that in mind, here’s a look at some of the most recent FTC scam alerts.

Equifax Data Breach – Fake Settlement Sites

Recently, Equifax settled over the massive data breach that exposed the personal information of millions of Americans. The breach included their Social Security numbers. Some of those who were affected by the breach may be eligible for a payment or other benefits based on the settlement. Applying for the benefits is an online process. Unfortunately taking it online has created an opportunity for scammers.

Once news of the settlement website spread, fake settlement websites began popping up. Many of them have URLs that mimic the genuine settlement site. They even use similar images in an attempt to trick people into handing over personal information. A few try to convince victims that they need to submit a payment through the website to access their benefit. Which of course isn’t true. Then, the scammers charge the person’s card or sell those details to others, leading to fraudulent charges.

If you believe you were impacted by the Equifax breach, head to the FTC page to file your claim. That way, you know you are going to the legitimate site and not a scam version.

Gift Card Scam – A New Spin

Scammers have long asked for gift cards to get money from victims. Recently, a new twist on this classic scam has emerged. The scammers pretend to be priests, rabbis, pastors, bishops, imams, or another religious individual. They ask worshippers to provide gift cards in support of a cause, but keep the money for themselves.

Many of these scams operate over email, though some text-based and phone-based versions also occur. Often, with the email scams, the scammer uses the name of a local pastor, rabbi, imam, priest, or bishop, and the message may appear to come from a legitimate email.

If you receive a message asking for a gift card in support of a cause, be cautious. For example, you can review the email for red flags, such as not addressing you by name or using an email address that is different than what the church usually uses. There could be spelling or grammar mistakes in the message too.

Even if the request appears to be legitimate, if the person is asking you to buy a gift card, scratch off the code, and take pictures or send the numbers, there is a good chance it’s a scam. When in doubt, go to the organization’s website (not links in the email or text message) and call directly to find out if it is legitimate.

Medicare DNA Test Scam Alert

DNA test kits are becoming increasingly popular. Scammers are taking advantage of the trend by targeting individuals on Medicare and saying they are eligible for a free test.

The scammers then ask for personal information, such as Social Security Numbers and Medicare Numbers. They claim they need this to make Medicare pay for the DNA test.

It’s important to understand that DNA tests are not covered by Medicare. Additionally, Medicare doesn’t market DNA testing kits to the public. If you are contacted about a DNA kit through Medicare, it’s almost definitely a scam.

Ultimately, it is never a good idea to give your personal information to anyone who contacts you out of the blue. If a request is legitimate, you’ll be able to contact the organization directly and confirm it. This means looking up the information on your own; not using emails, links, or phone numbers in the possible scam message. When in doubt, check it out for yourself using your own methods. That way, you can protect yourself from scammers.

Have you been a victim of a scam? Do you know about a new scam that is making the rounds? Share your thoughts in the comments below.

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

Paying Child Support Online

August 14, 2019 By Tamila McDonald Leave a Comment

Being able to make payments online is incredibly convenient. You don’t have to worry about having stamps, checks, or money orders available to handle an expense. Many states allow non-custodial parents to pay child support online, ensuring your payment is on time based on the schedule you have to follow.

How to Pay Child Support Online

Paying child support online is a fairly simple process. However, the procedure can vary somewhat from state to state.

With that in mind, here is an overview what you’ll typically need to do to submit a child support payment through an online portal.

Create a Child Support Payment Account

When paying child support online, the first step is to create an online account. Begin by heading to the right website. In most cases, you’ll need to head to the state agency website that oversees child support. Depending on where you live, you might find access to the portal through the Department of Social and Health Services or the Department of Justice.

However, if you can’t find it quickly, you can do an online search for your state and “pay child support online.” Just make sure to access the government website that shows up in the results, as others might not be official portals.

Once you find the portal, you’ll typically find any rules regarding online payment eligibility. Not everyone is allowed to pay child support online. For example, if you have an income withholding order, you might not be able to submit payments online.

Additionally, if you don’t have an email address, you’ll need to create one before you can set up an account. Nearly all online payment systems consider email addresses mandatory. Luckily, it is easy to create a free one at Gmail, Outlook.com, or Yahoo Mail.

You’ll also need to provide some personal information. Usually, this includes your legal name, birth date, address, phone number, email address, and Social Security Number. Along with your information, you generally have to provide additional details about your child support arrangements. Your child support case number is the most common supplemental piece of information.

You’ll also create a user name and password for the online child support payment portal. This allows you to make additional payments without having to provide the same information again as it will all be saved to your profile.

Submitting a Child Support Payment Online

Once your account is created, you will be able to pay child support online. Some states only allow for credit or debit card payments through the portals. Others will let you set up a direct debit or electronic check from an eligible checking or savings account.

If you are paying by debit or credit card, you’ll need to enter your card’s details. This includes the card number, expiration date, and the three-digit security code on the back in nearly all cases. If you are paying by direct debit or electronic check from a bank account, you’ll need the account number and bank’s routing number.

In many cases, you can save your payment details to your profile. Then, if you complete more payments through the account, you don’t have to reenter the information.

After setting up your payment method, you can submit your payment. In some cases, you’ll see the required amount in your account. In others, you’ll need to enter the amount manually. Once you submit the payment, you should see a confirmation screen and you might receive a confirmation email as well.

How quickly your online child support payment posts to your account depends on your state. Some process same-day transactions as long as you submit it before a specific cut-off time. Others take one to three business days to post.

If you aren’t sure how long your payment takes to post, you can usually find out through the portal (such as in a FAQs section) or by calling the agency that processes the payments. By getting this piece of information, you can make sure you submit your payment on the proper day to keep you current on your child support.

Recurring Online Child Support Payments

Many states allow you to set up recurring payments to handle your child support obligation. In your account, look for an option to set up a recurring payment and follow any instructions. Usually, you’ll need to select a date for the charge to process each month. However, some states standardize the payment date, so it may be selected for you.

By setting up a recurring payment, you don’t have to worry about remembering to handle it manually. Essentially, it is a set-it-and-forget-it approach, ensuring your payment is processed automatically at the right time.

Online Payment Fees for Child Support

If you pay your child support online, the state may charge you a fee. Usually, this is labeled as a “transaction fee,” “convenience fee,” “payment fee,” or something similar.

This fee means that you have to provide more money than just the child support payment. While the amount of the fee can vary, expect to pay an additional 2 to 4 percent on top of the payment amount if you use a credit or debit card. If you opt for an electronic check or direct debit from a bank account, you might encounter a flat fee instead, such as a $5 charge for using the service.

Even with the fee, the ability to pay child support online is great for simplifying your payment requirements. You won’t have to worry about going to an office or kiosk, or getting a check or money order in the mail and hoping it arrives on time.

Have you ever used a portal for paying child support online? Tell us about your experience in the comments below.

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

Would You Retire On A Cruise Ship?

August 8, 2019 By Tamila McDonald Leave a Comment

Currently, about 10,000 people are turning 65 each and every day. For those who choose to leave the workforce, retirement signals a major life transition. They might not be tied to the current home once they stop working. As a result, they can significantly alter their lifestyle. For some, that means spending their golden years on a cruise ship.

How Retiring on a Cruise Ship Works

Retiring on a cruise ship isn’t all that different than booking a cruise ship vacation. The main difference involves the duration, as retirees who want to remain aboard long-term aren’t going to book for one-week intervals.

In some cases, retirees decide to buy a cabin. This makes them a permanent resident, and several cruise lines allow people to essentially purchase the cabin as a condo. After buying, the owner still has access to various cruise ship amenities.

How Much Retiring on a Cruise Ship Costs

It is difficult to determine exactly how much it costs to retire on a cruise ship. One estimate shows that the average passenger spends about $213 per day to be on the ship. For an entire year, that comes out to $77,745.

With an average length of retirement at 18 years, a retiree could feasibly spend nearly $1.4 million if they retire on a cruise ship for that period. In comparison, people aged 65 to 74 usually only spend just under $49,000 per year. For the same 18-year timeframe, that totals to $882,000.

However, the cost of living on a cruise ship is impacted by the average cruise ship duration, which usually comes in near 8 days. Since retirees living on a cruise ship are there for extended stays, their daily rate may be different based on the longer durations without leaving. It may be possible to negotiate a discount, which could make it more affordable.

Additionally, if a retiree decides to buy a cabin, the financial side is different. How much a cabin can cost varies dramatically. Some smaller units on select ships may be under $400,000. However, large units in luxury vessels can be several million.

For example, Storylines has 172 square foot cabins for $352,235. There are also annual assessments of $70 per person for access to all-inclusive amenities at that tier.

On the higher end, Storylines’ 1259 to 1690 square foot cabins start at about $3.3 million. And that doesn’t include the all-inclusive assessment of $230 per day.

Additionally, practically none of the cruise ship arrangements cover any spending when you leave the ship. If you decide to explore a port city, that is more money you’ll have to spend. While all-inclusive arrangements lesson the need by covering costs like food and internet, you might want the option to experience local cultures, and that comes with a price tag.

You also have to contend with handling land-based expenses. If you keep your home or want to store your personal belongings and vehicles, that increases your overall spending.

Healthcare Considerations

If you retire on a cruise ship that travels internationally, your healthcare situation becomes a bit more complex. Medicare won’t always cover you outside of the US, so you might need a private health insurance supplement to handle your medical needs while traveling.

Cruise ships generally have very limited medical services available. Typically, they are equipped to handle various acute situations, like a mild injury or illness. Beyond that, you may have to leave the ship, and that can be hard to arrange if you are in the middle of the ocean.

Before You Retire on a Cruise Ship

If you simply can’t resist the idea of retiring on a cruise ship, then you should address certain things before you set sail. Calculate a retirement budget to make sure it’s affordable. Decide how you’ll handle your personal property. Evaluate your various insurance needs, such as medical and travel insurance.

Once that is handled, you should also comparison shop before making any formal plans. There are a surprising number of options out there, so you want to make sure you pick an approach that works best for you and gives you the lifestyle you want.

Finally, you might want to speak with a financial planner. Being on a cruise ship doesn’t make you exempt from federal taxes, so having a professional review your situation and help you plan isn’t a bad idea.

Would you retire on a cruise ship? Share your thoughts in the comments below.

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.