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6 Unexpected Ways Your Dog Can Help You Save Money

6 Unexpected Ways Your Dog Can Help You Save Money

There are so many reasons to love your dog: the wet nose, the wagging tail, the constant, unconditional love even when you’re at your very worst. But in case having a pet who’s unbelievably thrilled by your very presence isn’t enough for you (take that, cats!), here are six more reasons to love your dog—the totally unexpected ways that owning a dog actually helps you save money.

1. Your dog keeps your doctor’s bills down.

You might not realize it, but your pooch’s needs encourage you to have all kinds of healthy habits, from keeping a regular sleep schedule to getting outdoors every day. All those walks add up! The Centers for Disease Control and Prevention (CDC) and the National Institute of Health (NIH) have both conducted studies that found that pet owners had lower levels of cholesterol and triglycerides, as well as lower blood pressure, than non-pet owners.

Fido can help you raise healthier kids, too: research from the University of Wisconsin-Madison has shown that children raised around dogs (and other furry critters) develop stronger immune systems and are actually less likely to have allergies than their pet-less pals. Turns out that owning a pup is a pretty good form of preventative medicine—and staying healthy helps you save on healthcare costs down the line.

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2. Your dog can be your therapist.

Dogs aren’t just good for your physical health—they also boost your emotional wellbeing. Petting and playing with your dog can be an anxiety reliever. Even just a quick snuggle session or game of fetch will do the trick; researchers have found that 15 to 30 minutes of pleasurable pet activity is enough to elevate your brain’s levels of serotonin and dopamine, a.k.a. your feel-good neurotransmitters.

This also may be why so many studies have found that dogs help reduce your stress levels. In one study from SUNY Buffalo, seeing their dogs made participants react more calmly in stressful situations than seeing their husbands and wives did. Plus, you don’t just get to see your dog for fifty minutes a week—per minute, Rover is pretty much the least expensive shrink you can find.

3. Your dog is your security system.

Sorry, ADT—you’ve got a D-O-G on the case. You don’t have to own a Rottweiler or German Shepherd to feel safer with your dog; even a Yorkie or Malti-poo will do. Whether you’re in your home or out with your pet, thieves and other ne’er-do-wells avoid dogs. And again, they don’t want to deal with any dog—according to one criminologist, small dogs can actually be more of a deterrent than their Beethoven-size brothers, since they have a reputation for being nervous and noisy. Your neighbors should thank you, too: even living next to a dog owner decreases your risk of burglary. Save on home monitoring services, and just put up a “beware of dog” sign.

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    4. Your dog might be a deduction.

    Working dogs might not pay taxes, but they can actually help you save when April 15th rolls around. Seeing-eye dogs and other service dogs (including Emotional Support Animals) are a deductible medical expense. In order to claim the deduction, your pup must be registered with an agency as an official service animal. If you establish that the dog is used primarily for medical care, per IRS Publication 502 your pooch’s food, training, medication, and vet bills can all count as medical deductions. Other working dogs—including guard dogs and farm dogs—can actually be deducted as business expenses, but the IRS draws a clear distinction here between workers and pets. So yes, even though your Malti-poo can keep you safe (see #3), you can’t call her a guard dog and claim her as a business expense.

    5. Other people’s dogs might be a deduction, too.

    If you’re really committed to our canine companions and you volunteer at a shelter or with a dog-related nonprofit, you can deduct any non-reimbursed expenses you paid out-of-pocket. For example, if you foster dogs in your home and your dog-related expenses aren’t being paid by a shelter or rescue organization, you can deduct the stuff you paid for like puppy chow and vet bills.

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    If you volunteer at a shelter, you can’t deduct the value of your time—and come on, isn’t helping dogs find good home payment enough? But you can deduct other volunteering-related expenses, like if you used your car to help bring supplies to an adoption event. If you weren’t reimbursed by the shelter or rescue group for parking, gas, or other expenses, there’s another deduction.

    6. Your dog is a fantastic wingman.

    Now yes, studies have found that people can get as strong of an emotional boost from having a dog as a companion as they can from having another person around, but that’s not what we’re talking about here. Your pooch can help you meet people in places that aren’t bars—no cover charges, no pricey cocktails, no cab fare necessary.

    From the dog park (free!) to sitting outside a coffee shop ($4, max), your dog is a perfect conversation-starter. Sure, you might be afraid to approach that cute guy or girl—but chances are pretty good your dog would love to meet them. And guess what? You’ve already broken the ice, because here’s something to talk about—your dog. If they’ve got a dog too, even better. Oh hey, who’s your groomer? Want to hit up this great hiking trail? Before you know it, you’ve got a date—maybe you can use some of your extra cash to go somewhere nice.

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    Featured photo credit: Yorkshire Portrait via picjumbo.com

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    Last Updated on January 21, 2020

    How to Develop a Millionaire Mindset in 6 Simple Steps

    How to Develop a Millionaire Mindset in 6 Simple Steps

    We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

    It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

    How do you go about developing that millionaire mindset? By following these simple steps:

    1. Focus On What You Want – And Take It!

    So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

    Millionaires play to win, not to avoid defeat.

    This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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    2. Become Goal-Orientated

    It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

    Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

    Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

    Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

    You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

    If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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    If you are to become a millionaire, you need to start accumulating money.

    Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

    3. Don’t Spend Your Money – Invest It

    The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

    Stop working for your money and make your money work for you.

    Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

    There’s not just the stock market — there’s also property, and your own education.

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    4. Never Stop Learning

    The best thing you can invest in is yourself.

    Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

    Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

    Learn everything you can about how economics works, how the stocks markets work, how they trend.

    Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

    Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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    5. Think Big

    While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

    There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

    Aim for the stars, if you fail you’ll still be over the moon.

    6. Enjoy the Attention

    To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

    Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

    If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

    Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

    More About Thinking Smart

    Featured photo credit: Austin Distel via unsplash.com

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