Month: March 2022
Capital One Updates: Adds Virgin Red Partner; 20% Transfer Promo with Wyndham, Aeromexico, Avianca; Flight Cancellation Option
A few bits of news out of Capital One today which we heard from our contact there: The Venture X signup bonus of 100,000 + $200 will be valid until March 14th. We don’t know what will be beyond that. In the coming weeks Virgin Red will be added as a new 1:1 miles transfer […]
The Financial Implications of Fluffy: Costs of Becoming a Pet Owner
Animals are just plain cute and can bring so much joy to your life, but like children, they are not cheap â especially if you care for your pet properly.
Whether you choose to adopt or buy a pet from a store or breeder, there are several costs to consider over the life of your pet. The first one being acquisition cost. You can adopt a dog for around $60 to over $200 depending on the shelter (this usually includes having them spayed/neutered and all their vaccines), but I have seen French bulldog puppies through breeders for $7,000. You would want to do your research on breeds and make sure you get a healthy pet.
I have been actively looking for a furry friend but after educating myself on the time commitments and costs involved, I must confess, I am thinking about revisiting this when I retire and have more time.
- SEE MORE The Ways Pets Improve Our Retirement Well-Being
There are so many advantages to having a pet. They can bring such unconditional love and companionship and of course all of the funny, cute things they do. The purpose of this article is not to turn you off from owning a pet but to guide you as to the resources you should have available for a long-term financial commitment.
A dog or cat can have a lifespan of over 15 years â this is almost like raising a child to college age. Many people adopt or buy animals and donât factor this into their planning. What if I have a baby? What if my job forces me to relocate? What if pet restrictions make buying a condo or renting an apartment a problem for me in the future? I have seen so many sad stories of new babies being allergic to pets or people losing their jobs and having to surrender pets they can no longer afford to care for.
Some costs to think about are:
Food and toys
Food can be quite expensive, especially if you have a larger animal. Dog owners should plan on budgeting $120-$550 per year for food per pet, according to Petfinder, and for cat owners the estimate is only a smidgeon lower at $120-$500. Â I have friends who cook chicken and âpeople foodâ for their dogs. This can be as expensive as feeding another human. Â
Your pet may need some toys, a bed and possibly a crate for training. If you have a cat you may need to purchase something they can scratch. A couple of toys can easily be $50, dog bed $35, cat scratching post $30 or more depending on how fancy you want to get. And donât forget the kitty litter, which could add up to $70-$150 per year, Petfinder reports.
Training costs and property destruction
Puppies like to chew and kittens like to scratch up furniture. This can be frustrating and costly, especially if the puppy ravages your expensive shoes. The average cost for dog training is about $50 per hour, but obedience training can run $200 to $600 per week. A private dog trainer can run up to $150 per hour.
Pet insurance
If your pet has known health issues based on their breed, it may make sense to either get pet insurance in advance or set aside cash for large vet bills. Pet insurance can range from as low as $10 per month to higher than $100 per month. Keep in mind many insurance companies will exclude âtypicalâ conditions associated with a breed.Â
General liability insurance
Some condo associations require you have liability insurance if you have a pet in the event it bites or destroys property. This can increase your insurance costs. About 4.5 million people are bitten by dogs each year. If you own your home, your homeowners insurance policy often will cover dog bites â but it pays to verify. Some companies exclude covering certain breeds. In those cases, and if you are a renter, you should look into personal liability coverage and/or umbrella insurance.
- SEE MORE When Couples Divorce, Who Gets Fido? ‘Pup Nups’ Can Help
A colleague informed me that her condo association requested an analysis of her dogâs poop, so that the culprit can be identified if the poop is not cleaned up!
Health care/vet bills
These costs can be a wild card depending on your pet. Keep in mind that if something serious comes up, a week in a veterinary hospital could mean a bill of $10,000 or more. With regular dental cleanings (easily $300 or more each time) and periodic vaccines, heartworm pills ($58-$159 per year) Â and flea and tick prevention ($150-$200 per year), even routine care adds up fast.
Grooming
This can cost up to $100 per visit depending on the size of the pet and your location.
Travel/pet sitting
 If you travel frequently or work outside your home you will need to factor in the costs of someone taking care of your pet when you are away. Having a dog walker come by during the day can easily cost $20 depending on where you live. Doggy day care can be $25 per day and $40 for overnight. If you travel frequently these costs can add up quickly. Â
Future planning
Many people have trusts for their pets. Since your pet is likely part of the family, what if something happens to you? Do you have plans in place for the pet and the financial resources to provide for the pet after you are gone?
- SEE MORE A Plan for Rover After You’re Gone
Prepaid College Plans by State: What Does Each State Offer?
College is a major expense. Even with years of thoughtful saving and planning, the costs can add up quickly. Prepaid college plans are one option families are choosing to work out a smoother financial process for students and parents alike. These plans used to be more readily available, but have scaled back in recent years. […]
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If You Have More Than $1,000 in Your Checking Account, Make These 5 Moves
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
H&R Block Online Review 2022: Easy Tax Filing for All Types of Filers
In our H&R Block tax software review, weâll take a look at all of the package options and the pros and cons of using it to file your taxes.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Missing Insights from the Virtual Water Cooler
1. Taking breaks must be normalized
2. âFunâ is in the eye of the beholder
3. We must respect each otherâs choices
4. Inclusion is bigger than just an invitation
- Seek out opinions and feedback early when youâre working on an idea. If you wait until your plan is fully baked, the invitation for feedback seems disingenuous.
- Connect with employee resource groups (employee-led groups designed to be forums for team members with a shared characteristicârace, gender, life-phase, etc.) and invite their perspectives early and often to help shape your thinking.
- Network regularly and intentionally with people in different parts of the organization so your perspective starts to expand.
Want to Be an Executive Assistant? Here’s How.
Think becoming an executive assistant might be the right job for you? Here’s what to expect and how to land a job.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.