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3 min read

3 MIN READ

APRIl 2025

Your financial knowledge toolkit

Dealing with money and finances can be overwhelming. But small changes, wise choices, and a little guidance and support can help you reach your financial goals.

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Here are some tips:

Be mindful with your spending

“I can’t afford a house, so I might as well treat myself to a fun weekend.” That might seem like a good idea in the moment. But here’s the truth: small, intentional spending decisions can add up more quickly than you think, and help you reach big goals.  

Reduced spending can also reduce waste in landfills. Ordering out for dinner means higher meal costs plus plastic bags, boxes and other disposable materials. Meal planning for the week on a free day helps you save money and reduce your carbon footprint.

Write down your financial goals

What are your financial goals? What’s important to you? SmartDollar, your no-cost confidential online personal finance program, is designed to help you reach your goals.

SmartDollar’s step-by-step plan helps you take small steps to pay off debt and save more using the online budgeting tool. It keeps you motivated with video lessons from personal finance experts and gives tips to: 

  • Pay off debt faster
  • Set up an emergency fund
  • Save for college 
  • Buy a car
  • Save for a down payment on a house

Free one-on-one financial coaching is also included. To sign up and get started, visit SmartDollar.com/enroll/costco or text Costco to 33789* to download the app.

If you want to grow your financial knowledge, additional financial resources are available through Resources for Living. Get a free 30-minute consultation per concern with a financial specialist. They can help with things like budgeting, credit repair and reports, mortgages and refinancing, debt management and tax questions. Visit RFL.com/Costco to request a free financial consultation.

Be smart about big purchases

Do your research before buying a house or car. Take the time to compare prices and learn about the market in your area. Consider things like rates and resale value to make an informed decision and get the best value for your money. Consider checking out the Costco Auto Program.

Watch these SmartDollar videos for additional ways to save:

Take advantage of these ways to save

Your Costco benefits can help you make the most of your money.

  • Save on monthly expenses — New for 2025, you have access to LifeMart for employee discounts on gym memberships, virtual fitness and childcare.**
  • Contribute to your 401(k) — Costco offers matching and annual contributions to your retirement plan with T. Rowe Price. To check your 40l(k) account balance, set up automatic payroll deductions, adjust your investment mix and much more, go to RPS.TRowePrice.com.
  • Purchase company stock — The Employee Stock Purchase Plan (ESPP) lets you buy Costco stock through payroll deductions. You choose the amount you’d like to invest per pay period.
    To learn more, visit Costcobenefits.com > Financial Wellbeing > Employee Stock Purchase Plan (ESPP). 
  • Save on taxes — Use reimbursement accounts for eligible expenses.
    • A Health Care Reimbursement Account (HCRA) lets you set aside pretax dollars to pay eligible medical expenses. You can use it for things like copays, deductibles and coinsurance, dental and vision expenses, plus prescriptions and over-the-counter items. Sign up for an HRCA during Annual Enrollment.
      To learn more, visit Costcobenefits.com > Financial Wellbeing > Health Care Reimbursement Account.
    • A Dependent Care Assistance Plan (DCAP) lets you set aside pretax dollars to pay for qualified child and elder care expenses needed for you and your spouse to work. You can use it for expenses like day care, before- and after-school care, nursery and pre-school, and in-home aids. Keep in mind that the DCAP isn’t for dependent health care expenses. You can sign up, change or stop your DCAP based on your dependent care needs.
      To learn more, visit Costcobenefits.com > Financial Wellbeing > Dependent Care Assistance Plan.

NOTE: If you were enrolled in a reimbursement account in 2024, remember that your claim filing deadline is April 30. Any unused funds are forfeited after this date. Only your HCRA rollover amount of up to $640 can be carried over from 2024 to use in 2025.

*Message and data rates may apply. 

**Childcare discounts are not available in Puerto Rico. 

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2 min read

2 MIN READ

APRIL 2025

Talk about money — even when it’s hard

It’s easy to fall into the trap of thinking everyone but you has their money figured out. But the truth is, 72% of Americans report feeling stressed about money within the last month.  

Topics like budgeting, investing, interest rates and managing debt aren’t always taught in homes or schools. And that can leave many adults feeling overwhelmed by their finances.

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It’s ok to talk about it. And you should. If you share expenses with a spouse or partner, talk to them. Getting on the same page is important. But you can only do that if you have clear, open communication about your financial goals.

Talk with a trusted friend or family member. Once you start getting more comfortable having money conversations with the people in your life, not only will it shed light on your own milestone moments, but it will also help you understand how the people close to you view money and make decisions.

And be sure to ask for help when you need it. Support is available from these helpful resources: 

  • Struggling to make ends meet? Get connected with local community resources through Worklife, made available by Resources for Living® (RFL). They can connect you with resources for rent, water and electricity, food and more. Social workers are also available to help support you and your family. 
  • Stressed and overwhelmed? RFL offers 6 free counseling sessions per issue per year for you and your household members. Dependent children living away from home can use RFL up to age 26.
    To connect with support, call 833-721-2320 (TTY:711) or visit RFL.com/Costco. 
  • Need help taking the first step out of a rough financial situation? SmartDollar offers budgeting tools and free one-on-one financial coaching. They can help you figure out a financial plan that meets your needs, such as tackling debt, repairing credit or saving an emergency fund.
    To get started, visit SmartDollar.com/enroll/costco or text Costco to 33789* to download the app. 

Learn more about the importance of talking about money with SmartDollar.

Here’s the truth about money: If you don’t tell it where to go,  you’ll always wonder where it went.
– Dave Ramsey

*Message and data rates may apply. 

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3 min read

3 MIN READ

FEBRUARY 2025

Catch conditions early when they’re easier to treat

Skin cancer and breast cancer are the two most common cancers among Costco employees. More than 6,000 employees and their family members are dealing with skin cancer. Nearly 1,800 have been diagnosed with breast cancer. Find out how you can catch these conditions early, when treatment is most effective.

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The power of preventive care

Preventive services such as annual physical exams and mammograms are powerful weapons in fighting these cancers. A recent study shows that regular mammograms reduce the risk of dying from breast cancer by 50%.1 Only 21% of Costco employees and family members get all of their recommended preventive services each year. Are you up to date on your preventive care?

Routine preventive care helps you stay ahead of illness and disease so you can be your best. Preventive care includes services such as your annual physical, certain blood tests, cancer screenings and vaccines, even dental cleanings and vision exams. This kind of care helps you and your doctor know how you’re doing. Most importantly, it can catch a health condition in its earliest stages, when it’s easier to treat.

How to find a PCP

Employees and their family members enrolled in a Costco medical plan can find an in-network primary care provider by visiting Costcobenefits.com and clicking “Find a Doctor” under Health & Wellness. 

Mainland employees can learn more about how to find the PCP that’s right for them in this Aetna ID card update:

Aetna ID card update for mainland employees

To make it easier for you and your family members enrolled in an Aetna medical plan to access preventive care, your new Aetna ID card will have a PCP listed for you and each family member.

Here are a few other things to know: 

  • Your plan hasn’t changed. It’s not an HMO. You are not required to see the PCP on your ID card and your plan doesn’t require a referral to see a specialist.
  • Your PCP was carefully selected. If you’ve seen a PCP in the last two years, we’ve added the most recent PCP or practice name to your card.
  • If you haven’t, we looked for PCPs accepting new patients within 25 miles who have met the Aetna Smart Compare® high standards for care.
  • You can change your PCP at any time, and as many times as you need, by calling your Aetna Health Concierge* at 800-814-3543 (TTY: 711).
  • If you change your PCP, we’ll send you a new card. Your digital ID card will be available on your Aetna member website the next day.
  • Note: If you see a physician’s assistant (PA) or nurse practitioner (NP), you may see the supervising physician’s name or the practice name on your card.

Your PCP is your partner in good health

Your primary care physician (PCP) is your first stop for preventive care. They can give you your annual physical and order blood work, tests and screenings.

Here are some recommended preventive services. Your age, gender, and family and personal medical histories can make a difference in which services you need and when to start them. Ask your doctor what’s right for you.

Don’t forget about dental and vision exams

Learn more about what regular dental care can do for you here.

It’s important to get an annual eye exam, even if you have perfect 20/20 vision. Eye exams can help catch brain tumors, cancer, heart disease and more. In 2024, over 100,000 Costco employees and family members got their annual eye exam. Nearly 3,400 discovered a condition they didn’t know about, giving them the opportunity to seek care. The most common conditions were:

  • High blood pressure or cholesterol
  • Diabetes
  • Cataracts
  • Glaucoma

Employees and their family members enrolled in a Costco medical plan are automatically enrolled in vision coverage.

The plan will pay:

  • Up to $80 for your annual refractive eye exam
  • $175 toward the purchase of prescribed eyewear every year (you don’t have to spend it all at once)

You also get $1,750 toward the purchase of prescribed medically necessary hearing aids every four years.

Protect your health by quitting tobacco or nicotine for good

If you use tobacco and/or nicotine, think about making this your year to quit. The Costco Tobacco & Nicotine Cessation Program can provide the support you need with a plan personalized for you. You’ve got so much to gain once you stop smoking, using tobacco or vaping, including: 

  • A lower risk for heart attack and certain cancers
  • Improved blood flow
  • Better lung function
  • A lower risk for gum disease, tooth loss, dry eye syndrome and cataracts

And that’s just a start. Imagine climbing stairs or playing with the kids and not being out of breath. Even food tastes better! Visit Costcobenefits.com and click “Quit Tobacco” under Health & Wellness to start your journey to quitting for good. 

1American Association for Cancer Research. Mammography screening and risk of breast cancer death: a population-based case-control study.

*Available to mainland employees only. 

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TAKE THE PLEDGE

JANUARY 2025

Support for the Costco Family

What’s most important to Costco as a company? The health and wellness of our employees and their families. That’s why we provide benefits to help with almost any challenge. But with all the benefits available to you and your family, it can feel like a lot to learn.

We’re here to help! Take the 2025 We’re in This Together (WITT) pledge, along with your spouse or domestic partner, to sign up for emails and texts from Costco Benefits. It’s the best way to discover, understand and use your benefits to feel better.

After you pledge, you’ll have an opportunity to tell us what you value about your benefits in a short survey.

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What do you need help with?

Your Costco benefits offer support for your physical, emotional, financial and, new this year, social well-being. When you’re physically, emotionally and financially healthy, you’ll experience the positive impact on your social well-being. 

To see some of the ways your Costco benefits can help you feel better, choose a well-being pillar from the drop-down list below.

To find website links, phone numbers, costs (no cost or low cost), age requirements and whether enrollment in a Costco medical plan is required for each listed benefit, turn to your 2025 Benefits Guide, your one-stop shop for all things benefits.

Do you…Try…
…need help finding a primary care physician (PCP)?The PCP listed on your Aetna ID card. You can change it at any time.
…have trouble sleeping?Sleepio, the online sleep improvement program 
…have foot, back or knee pain? FitMyFoot for custom foot insoles without a prescription 
…want to join a gym? LifeMart for employee discounts on gym memberships and virtual fitness 
…have gut or digestive issues? Cylinder* for virtual digestive care and a free gut microbiome test 
…want to lose weight? WeightWatchers, now with even lower monthly rates for Costco employees and their family members

Omada for Prevention & Weight Health for a free smart scale to support your weight loss goals 

A Live Healthy Team** registered dietitian who can help you develop a meal and nutrition plan 
Do you…Try…
…need to find the right therapist for you and your famiy?Resources for Living offers multiple options for finding a therapist, including the new Alma search tool with unlimited free 15-minute consultations. Access six free counseling sessions per person, per issue, per year.
 …want to work on a specific personal goal?Resources for Living’s well-being coaches to help you achieve almost any goal  
…need support for a child with autism?An Aetna Autism Advocate**, who can answer questions and connect you to providers and resources  
Call 866-724-0604 (TTY: 711) option 5 
…need psychiatry or medication management?Talkiatry or Telemynd for virtual psychiatry for kids, teens and adults 
Do you…Try…
…need some help with your taxes?Resources for Living and get a 25% discount on tax preparation services 
…want to buy Costco stock? Employee Stock Purchase Plan so you can invest in Costco stock 
…want to prepare for retirement? Logging in to the T. Rowe Price Costco Retirement Plan to explore retirement planning and investment options  
…want to learn how to manage your money or buy a house or car? SmartDollar for budgeting tools and free one-on-one financial coaching 
…want to save money on gyms, fitness or childcare? LifeMart for employee discounts on gym memberships, virtual fitness and childcare***

For more details on some of the benefits above, see the resources below.

*Not available in Puerto Rico.
**Available to mainland employees only.
***Childcare discounts not available in Puerto Rico.

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Take action

TAKE ACTION

JANUARY 2025

Video: Start budgeting for free 

Do you want to create a budget, but think it’s just too complicated? How about if you could create one in just three steps? Simplify your monthly budgeting with the EveryDollar budget app from SmartDollar® — Costco employees can access the premium version for no cost.

With EveryDollar premium, you’ll get the help you need to:

  • Avoid overspending with Paycheck Planning
  • See a complete picture of your financial plan with the Financial Roadmap
  • Connect your bank and import transactions automatically
  • Learn from the pros with unlimited free group coaching

Watch the short video below and create an account at SmartDollar.com/enroll/Costco to download your free EveryDollar app.

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Source:
RamseySolutions.com. EveryDollar budget app: start budgeting for free.

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Learn more

LEARN MORE

OCTOBER 2024

Beating the costs of braces

A beautiful smile is priceless. But the money you spend to keep smiles beautiful can add up when you or a family member needs braces. The average cost of traditional metal braces is in the $5,000 – $6,000 range.1 Adults and some teens may be able to use clear aligners, plastic trays that snap onto teeth and gently push them into alignment. Since they’re nearly invisible, aligners are less obvious than metal braces but also can be expensive, from $2,000 – $5,000 on average. 

And then there’s the emotional cost, especially for kids and teens. The fear of looking different can be stressful for young people and may lead some of them to resist treatment.   

Your Costco benefits can help. Read on to learn about the resources available to help bring a new smile to your (or your kid’s) face.

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Braces and kids’ mental health

Wearing braces can be tough on kids and teens. They may be bullied or teased about their appearance or avoid social situations because they’re self-conscious about the way they look. Fortunately, the boost in self-esteem and confidence they feel when they see their new smile emerging can often overtake any negative feelings.  

If your child could use someone to talk to, Resource for Living offers emotional well-being support to parents and children. Teens age 13+ can also access Talkspace for video chat or text  therapy. 

Three ways to budget for braces

Check out these benefit programs to help finance orthodontia treatment. 

Use your dental plan benefits

Orthodontia benefits through your Costco dental plan help make braces more affordable. You and each of your enrolled family members can access orthodontic services up to the lifetime maximum benefit of your dental plan. Visit Costcobenefits.com to find your plan’s orthodontia benefit information.

Plan ahead with a reimbursement account

You can use a Health Care Reimbursement Account (HCRA)* from Inspira FinancialTM to set aside pre-tax dollars for orthodontia or other eligible health care expenses. You can enroll in an HCRA during Annual Enrollment, coming in November. Only a small portion of your HCRA balance can roll over to the next plan year, so you’ll want to think about when you plan to use your HCRA funds.

Improve your budgeting skills

SmartDollar, a free financial well-being program for all employees, offers tools, advice and coaching to help you save for what’s important to you. Create your free SmartDollar account here. Then, follow these three steps:

Step 1: Find Your Why 

What’s your reason for getting braces? Are you looking to correct your kid’s overbite? Straighten crooked teeth? Or just feel more confident in your smile? Every goal needs a why—something that’ll keep you motivated. Try to keep your why front and center.  

Step 2: Know Your Numbers 

Making a budget is a lot easier when you know what numbers you’re working with. Look at your most recent bank statements. Note how much you’re bringing in every month and what’s going out. Prioritize these essentials: food, utilities, shelter, transportation. This gives you a clear view of what money is left over to put toward your goal. 

Step 3: Write It Down 

It’s super important to write down your budget. You can use pen and paper or download SmartDollar’s free EveryDollar budgeting app. A plan, on paper and on purpose, is a great tool to set you up for success. 

Need help getting started? Set up a coaching session with a financial expert at SmartDollar today.

Your new smile, or one for your kids, is within reach with the help of your Costco benefits. Use the resources below to help you make it happen.

1Consumer Affairs. Cost of braces in 2024.
2 Forbes Health. How much does Invisalign cost in 2024?
*Not available in Puerto Rico.

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TAKE ACTION

APRIL 2024

Savings dos and don’ts

Saving money not only feels good, it also gives you more control and opportunities throughout your life. With savings in the bank, you can more easily meet life goals, such as taking a big vacation, upgrading your home, or funding a child’s education.  

And here’s the good news: Saving money is not as hard as it may seem. With some thought, planning and a little discipline, you can make small changes that can make a big difference.  

Check out the ideas below for inspiration. And don’t forget to use your Costco benefits to help you reach your savings goals. 

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Do automate your savings. 

By setting up monthly automatic transfers from your checking account to your savings account, your money will build without any extra work on your part. Even if it’s just $25 a month, it will add up fast. Consider naming your savings account or accounts to match your savings dreams or goals, such as “vacation fund,” “emergency fund” or  “down payment.”

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Do take advantage of reimbursement accounts.*

Are your children in afterschool care? Do you need a dental crown replaced? Could your elderly parents use some in-home help? You can set aside pretax dollars for these expenses — and save money on taxes — with a reimbursement account administered by Inspira Financial (formerly PayFlex).

Enroll in a Health Care Reimbursement Account (HCRA) and/or a Dependent Care Assistance Plan (DCAP) during Annual Enrollment in November. You can also enroll in DCAP during the year if your childcare needs change. 

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Do teach your kids how money works. 

Kids can and should develop good money habits at an early age. You can help by teaching them the connection between work and money and encouraging them to have short- and long-term savings goals. Younger children can watch their savings grow in a clear savings jar. Tweens and teens can be given more responsibility by using a banking app on their phone to follow their savings progress or make transfers from checking to savings.

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Do start small.

It’s often easier to save if you start with a short-term goal. For example, committing to saving $20 a month for six months is more attainable than setting a goal to save $300 per month for a year. Once you reach your short-term goal, you’ll have created a habit of saving that can motivate you to keep going.

Don’t forget to monitor your autopay accounts.

Using autopay for gym memberships, streaming subscriptions and other services is a common practice. But this convenient way of paying also has its costs. In a recent survey, 42% of those polled continued to pay for subscriptions they no longer used.1 If you use autopay, make sure to regularly review what you’ve signed up for so you can cancel services you’re not using.

Don’t put off saving for your retirement.

Even saving a few dollars per paycheck for retirement can help you have a more secure financial future. The younger you start, the better, since you earn interest every year on both the money you save and the interest you earn along the way. For example, the chart below, provided by T. Rowe Price, shows the substantial impact that delaying your retirement contributions for ten years can have on the total amount you have available when you retire.

A bar chart about a person contributing $125/week for 45 years has more than double the retirement savings of a person contributing $125/a week for 35 years.
The chart is for illustrative purposes only and is not meant to represent the performance of any specific investment option. Final account balances are rounded to the nearest thousand. Assumes $125 invested each week in a tax-deferred account and a 7% annual rate of return for a hypothetical investor from age 20 to age 65. All investments involve risk, including possible loss of principal.

Costco’s retirement plan through T. Rowe Price makes it easy to save with automatic enrollment. You can choose a percentage of your pre-tax income to contribute. Costco makes contributions to your retirement plan even if you don’t contribute yourself.

Don’t skimp on preventive care.

Medical and dental conditions have better outcomes — and are less expensive to treat — when detected early. Make sure to get your annual physical exams, dental cleanings, vaccines and recommended screenings. Preventive care is free when you use an in-network provider.

Don’t go it alone.

We all have something to learn about improving how we manage our money. A SmartDollar® financial coach meets you where you are financially to help you make the changes necessary to reach your savings goals. You can start these free one-on-one sessions at any time and sign up for as many as you want. Spanish-speaking coaches are also available.

*Not available in Puerto Rico. 

Sources:
NerdWallet. How to save money now (before you really need it).
Americasaves.org. 54 ways to save money.
Ramsey Solutions. What is a financial coach?
Ramsey Solutions. 15 ways to teach kids about money.

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TAKE ACTION

MARCH 2024

Your monthly to-do list for financial well-being

Your financial well-being is unique to you. It’s based on how well you’re able to stay on top of your expenses, how secure you feel about your financial future and whether you have the freedom to make financial choices that allow you to enjoy life. 

Breaking these goals down to small, manageable steps can help you take control of your finances. This month-by-month guide organizes these steps to make it easy to take action throughout the year. Bookmark this page so you can refer back and stay on track.

If you need help getting started, get free one-on-one financial coaching from SmartDollar®. Your coach can guide you through each step. 

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March: Get organized

  • Create a budget. Use the EveryDollar budget app from SmartDollar® to simplify budgeting and help you track where your money is going.
  • Prepare for tax time. Gather last year’s forms and records, and submit your tax return as soon as you’re ready but no later than April 15, 2024.

April: Work on your money management

  • Start or fully fund your emergency account. Aim to save $1,000, then build your account to cover three to six months of expenses. Use your tax refund to replenish your account. 
  • Automate deposits. Set up recurring contributions to your savings account or investment account.

May: Improve your financial standing 

  • Check your credit report. Request this free summary of your credit history from a credit bureau, such as Experian or Equifax, and check for errors.
  • Review your debt. Consider following the debt snowball method from SmartDollar.

June: Do a mid-year checkup

  • Check your budget. Are you sticking to it? If priorities have shifted, adjust accordingly. 
  • Review your investments. The mix of stocks and bonds in your investment funds should match your tolerance for risk and length from retirement.

July: Invest in yourself

  • Practice mindful spending. Waiting a pre-set period (such as 30 days) before you buy will help make sure you really want a particular big–ticket item. 
  • Educate yourself. Find a podcast, book or blog to learn more about financial topics that interest you.

August: Focus on your or your children’s future 

  • Identify and save for your goal. Are you planning to buy a home, travel, or retire at 55? Set money aside each month (automatically through your bank, if possible) to fund your goal. 
  • Open a 529 account. These investment accounts can help you save for your child’s college, graduate school or vocational training.

September: Stay safe online

  • Protect your passwords. The strongest passwords include upper- and lowercase letters, numbers and symbols, and made-up words that don’t appear in the dictionary. 
  • Watch for fraudsters. Don’t open or reply to unsolicited emails asking for financial information, and if the URL looks strange in any way, don’t respond.

October: Give back

  • Donate. Costco’s Workplace Giving Campaign starts this month. Every contribution you make supports the local community and is matched by Costco at 60%. Watch for the notification email. 
  • Volunteer. Donating your time and energy is just as valuable as giving money. Look to your local food banks, schools, nursing homes, and other community resources for opportunities to volunteer.

November: Understand your options

  • Evaluate your insurance. Review your coverage during Annual Enrollment. Get familiar with your voluntary short–term disability options, and your basic life, basic accidental death and dismemberment (AD&D), and long-term disability insurance covered by Costco.
  • Update your estate plan. Review and update beneficiary designations. Create or update your will with help from Resources For Living.

December: Prioritize your retirement

  • Fund your future. Aim to increase your retirement contribution next year. Costco helps you save for your retirement by automatically increasing your contribution annually.
  • Request a Social Security statement. Learn about your future Social Security benefits and current earnings history.

Sources:
T. Rowe Price. Make a fresh start in 2024: your financial checklist for the new year.
Consumer Financial Protection Bureau. Get money smart. 25 tips to improve your financial well-being.

If you’re ready to work on your financial well-being, the following resources can help.

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TAKE ACTION

FEBRUARY 2024

How to handle financial stress

Your palms are sweaty, you haven’t been able to sleep soundly for a week and your stomach is in knots. You may be experiencing financial stress, a condition that’s affecting 72% of Americans, according to the American Psychological Association.

But you don’t have to suffer forever. There are strategies you can follow to lower your stress about money. See if they can help you find a sense of peace — even empowerment — over your finances.

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Money worries can hurt your physical, emotional and social well-being

Financial stress can be described as worry, fear and anxiety about economic or financial events. It can sneak up on you out of nowhere and show up anytime, day or night. Chronic financial stress can cause insomnia, headaches, fatigue, weight loss or gain, muscle tension, stomach concerns, and depression. Over time, it can lead to an increased risk of heart attack or stroke.

And it doesn’t stop there. Worries about money can take a toll on your relationships with your partner, family and friends. It can hurt your focus at work. The stress you feel may make you more irritable and cause you to argue or lash out at loved ones. Research backs this up — studies show that finances are what couples fight about most.

Men and money

Cultural stereotypes can add to the stress. According to a Pew Research Center survey, 72% of American men say a man needs to provide for his family to be a good husband or partner.1 This pressure to provide can bring up feelings of guilt or shame if a man doesn’t feel like he’s living up to his potential. Society may also condition men to associate money with their success as individuals or a mark of their character. Money troubles can hurt their sense of self.

6 steps to financial peace

Fortunately, there are actions you can take to help you handle financial stress in a healthy way. Follow these steps to take control of your money.

number 1

Take inventory.

If you’ve been stashing your bills in a drawer, it’s time to take them out. Just because they aren’t in plain sight doesn’t mean they’ll just go away. It may be scary, but facing your debts head on is the most helpful thing you can do to start relieving stress. Organize your bills by closest due date and tackle them one at a time so you don’t get overwhelmed.

number 2

Make a budget and stick to it.

It may not seem like it, but creating a budget gives you more freedom. A zero-based budget is one to try. First, write down your income. Then, write down your expenses. Then, subtract your expenses from your income until it equals zero. This doesn’t mean you have nothing in the bank. It means you’ve given every single dollar a purpose and a job to do. Use the free EveryDollar app from SmartDollar to make budgeting even easier.

number 3

Have monthly budget meetings.

Budgeting can be hard. But doing hard things is easier when you connect with another person in the same situation. It can be your spouse, a family member or a trusted friend who’s encouraging enough to cheer you on but bold enough to hold you accountable.

number 4

Track your expenses.

When you see where your money is going, you’re not wondering where it went. You can start taking responsibility and make changes, which, in turn, will reduce your financial stress.

number 5

Practice gratitude.

If you’re constantly comparing yourself to others, it’s easy to be caught in a trap of wanting what you don’t have and overlooking what you do. Learn what triggers these feelings — social media is a common culprit — and limit your exposure to them. Remember, contentment doesn’t come when we have enough. It comes when we see that what we have is enough.

number 6

Set goals.

When you’re stressed about money, it can be hard to set financial goals. Goals not only keep you motivated, but each successful step toward your goal can increase your confidence and reduce your stress. Start with something small but doable, such as saving 10% of your paycheck for an emergency fund.

quotes

SmartDollar has taken away a lot of confusion and helped me create a monthly budget. I feel less worried about money.

— a Costco employee

1Pew Research Center. Americans see men as financial providers, even as women’s contributions grow.

Sources:
Ramsey Solutions. How to deal with financial stress.
American Psychological Association. Speaking of psychology: The stress of money, with Linda Gallo, PhD.
The Independent. Money problems can take a big toll on men’s mental health — signs someone needs support.

Ready to reduce your financial stress? Turn to these resources to help you change how you handle your money.

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LEARN MORE

DECEMBER 2023

Well-being toolkit

By learning about and using your Costco benefits this past year, you’ve worked hard to improve emotional, financial and physical well-being for you and your family. Studies show that higher levels of well-being are associated with a lower risk of disease and injury, better immune function, increased longevity, heightened personal development and greater social connectedness. This well-being toolkit will help you keep up the good work you started.

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How to use your toolkit

Your well-being toolkit provides simple ideas to help you live healthier, improve your quality of life and realize your full potential. To get started, choose the aspect of your emotional, financial or physical well-being you’d like to work on, and then try one or more of the suggested activities. Use the toolkit whenever you need support to be your best self.

Keep the well-being toolkit as a handy checklist to use anywhere, at any time.

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Take an emotional breather

Build resilience

  • Create a list of things you’re grateful for, such as a great friend or warm cup of coffee.
  • Look at a difficult situation from different angles to find another solution.
  • Go to a park or greenspace and soak up nature.

Strengthen connections

  • Spend time with your kids, friends or family members doing something you all enjoy.
  • Ask for help when you’re tired or overwhelmed.
  • Volunteer for causes you care about in your community.

Be mindful

  • Take slow, deep breaths through your nose and out through your mouth.
  • Go on a stroll and engage all your senses.
  • Do a mental scan of your body to feel more connected to your physical and emotional self.
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Take a financial time-out

Know where you stand

  • Track your spending to see where your money is going.
  • Check your FICO credit score (the number used to predict how likely you are to pay back a loan) through your bank or online service.
  • Set up a budget to make sure you can cover your expenses.

Tackle debt

  • Create a debt pay-off plan.
  • Cut down on expenses that aren’t necessary.
  • Reduce your credit card use.

Save for the future

  • Save money for an emergency fund.
  • Increase your Costco 401(k) contribution.
  • Set up automatic recurring deposits into a savings account.
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Take a physical break

Get active

  • Set specific goals for your physical activity, like “walk a mile every day.”
  • Try a free 20-minute online workout — there are lots to choose from on YouTube.
  • Take the stairs or walk whenever possible.

Mind your metabolism

  • Stand or walk regularly to reduce your time sitting down.
  • Drink water before grabbing a snack to help fill you up.
  • Sleep at least seven hours a night to keep metabolism steady.

Maintain your muscle

  • Walk with small hand weights to work your arms and your core.
  • Do pushups, squats or lunges when watching TV.
  • Eat a balanced diet with plenty of protein.

Your Costco benefits can help you on your well-being journey. See the resources below for more information.

Sources:
Forbes. How to create a financial wellness checklist.
National Institutes of Health. Emotional wellness toolkit.
National Institutes of Health. Physical wellness toolkit.
Ramsey Solutions. The 7 baby steps.