Pets are a wonderful addition to any family, large or small. Whether you’re a “cat person,” a “dog person,” or even a “bird person,” you probably have a strong attachment to this adopted member of your household. So, when people suggest that having a pet is too expensive, you know that the expense is well worth it. That doesn’t mean, however, that you can’t do your best to minimize the cost of your pets.
Rescue your new pet. Savings on pet expenses can begin before you’ve even chosen a new friend. Rather than spending hundreds of dollars on a pedigreed pet, you should consider selecting a pet from a local animal shelter. Not only will you be able to save money on the cost of your pet, you’ll be able to enjoy the satisfaction of knowing that you’ve already made a huge impact on your pet’s life.
Get your pet good preventative care. You don’t need to see the vet every time your pet shows the tiniest sign of a problem. However, you should take your pet to a veterinarian immediately following its adoption to make sure he’s healthy. Once you’ve determined what, if any, health issues your pet might have, you and your veterinarian can draft a care plan for your pet. Then, unless your pet’s health changes or deteriorates, you can care for your pet yourself. Of course, you’ll still want to make your annual visit to keep tabs on your pet’s health.
Buy regular pet medications online. Once you’ve visited your veterinarian to determine what medications or treatments your pet will need regularly, you can save a great deal of money on these treatments by buying them online. A popular site for pet prescriptions is 1800PetMeds.com.
Save on pet food by buying in bulk. If you have room to store it, the larger bags of pet food are much more cost-effective than the small six or eight pound bags. You’ll even get a workout carrying the larger bags.
Skip trendy toys. Don’t be too quick to buy a lot of unnecessary pet toys. A dog needs a chew toy and a bed. A cat needs a litter box and a little toy to chase. Other than these types of basic accessories, your pet doesn’t really need you to buy a ton of toys. He’d much rather have your attention at playtime than fancy toys.
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Deciding whether or not you’re in a financially-sound position can be hard sometimes. The whole process can seem pretty relative, can’t it? While you may seem to be doing pretty well compared to your neighbors who are losing their home, your situation certainly pales in comparison to your cousins who just went on a cruise in the Caribbean. How do you evaluate your financial wellness on a stand-alone basis?
Comparing yourself to others will never allow you to make an objective observation about your situation. Instead, you need to find some real markers to measure your position against. The next time you’re trying to gauge your financial wellness, try evaluating your position based on these characteristics:
Savings Account – The first sign of a financially-sound position is a well-developed savings account. Now, you may choose to house your savings account in a traditional savings account, a money market account, or even a jar in the closet. Wherever your savings fund is, you should strive to have savings of at least three months’ expenses. Having that cushion will protect you from the brunt of any unexpected blows and give you time to react. Imagine how comforted you will be if you lose your job or have to replace your car to know that you have enough money put away to cover your expenses for a few months.
Debt vs. Assets – Another sign of a good financial position is a positive balance sheet. Before your eyes glaze over at my blatant use of an accounting term, let me tell you that a positive balance sheet simply means that you have more assets than you have debts. To check your status, simply add up all of your debts. Then, add up all of your assets, such as your home’s value, your savings and retirement accounts, and your cars). As long as your assets outnumber your debts, you’re in good shape.
Late Fees – The presence of late fees in your family’s expenses are always a sign of a problem in your finances. If you’re paying late fees because you can’t afford to make your payments when they’re due, then you’ve definitely got too much money going out and not enough coming in. In this case you’re going to need to tighten your belt and find a way to raise some more money. If you’re paying late fees because you aren’t organized and forget their due dates, then, you’re just wasting money. Seeing a recurring appearance of late fees in your household is always a sign of a problem.
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What do you know about CEO’s? You’ve heard of Dan Hesse, right? He’s the new CEO of Sprint, the guy in all of their new commercials. Michael Eisner became infamous as the head of Disney. And then there’s you. Yes, I said, “you.”
Yes, you are the CEO of your household. Just as the famous CEO’s of major corporations make decisions to guide their companies toward profitability, you are charged with keeping your household in financial order. In fact, upon closer inspection, there are several choices you make everyday that mirror the types of decisions corporate heads must make.
You decide where to spend your money. Sure, the CEO of Sprint is deciding whether to spend money on new product development or maintaining satellite towers, but your decisions impact the future of your family in the same way his impact his company. You have to decide whether you should return to school in the hopes of increasing your earning potential in the years to come or whether you should spend that same money on a vacation. You decide whether you should invest a little money now in maintaining the siding on your home’s exterior or spend the money elsewhere and possibly have to invest more in new siding in the years to come. Although the budget you’re dealing with is smaller you are still making the same types of evaluations.
You decide how to spend your time. A huge part of being CEO of your household is deciding how to invest your time. Do you give up your family time to work extra hours at your job? Do you skip household chores to have more time to help your son with his homework? While corporate CEO’s are deciding which committee meetings they must attend or which tasks can be delegated to subordinates, you are deciding which tasks will best protect the welfare of your family.
You make long-term plans. CEO’s of corporations are often charged with keeping one eye on their company’s futures. Every decision they make must keep the company’s best interests at heart and move the company towards its goals. Likewise, you must always keep your long-term goals in mind as you allocate your family’s time and money each day. If you know your family is going to need a new car soon, you may scrimp and save when grocery shopping.
All things considered, you really are the CEO of your family. So, make your decisions and plans carefully. You’re just as important as any of those famous corporate executives are.
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