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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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    Published on September 17, 2018

    How Being Smart With Your Money Leads to Financial Success

    How Being Smart With Your Money Leads to Financial Success

    Achieving financial success is not something that just happens. Maybe if you win the lottery or something, but for the average person like you or me, it comes from a series of small steps you take over a long period of time.

    With each step, you form a new smart money habit. And with each smart money habit, you build towards financial independence.

    So what sort of habits can you form to get on that path? Let’s take a look at smart money habits you can start today to get you closer to a financially independent future.

    1. Avoid being “penny wise but pound foolish”

    It’s tempting to try saving a couple cents here and there when buying small items. However, that’s not where the real money is saved. You’re putting in extra effort for something that doesn’t move the needle.

    You get the most bang when you’re able to cut down on your bigger bills. For example, finding a lower interest rate for your mortgage could save you $50+ per month. And cutting your transportation bill by purchasing a cheaper car or taking public transportation can provide large gains as well.

    So, look at your recurring expenses such as housing, transportation, and insurance, and see where there’s wiggle room. It’s a much better use of your time than trying to pinch pennies here and there on smaller purchases.

    2. When you want something big, wait

    Impulsivity can get you in trouble in most aspects of life. Finances are no different.

    It’s human nature to see something and want it right then and there. It starts as a kid in the checkout line at the grocery store, and it continues on through adulthood.

    We get an idea in our head of something we want, and it’s hard not to go out and get it right then.

    A good example is wanting a new car. Perhaps you’ve had your car for several years. It’s crossed the 100k mile mark. Maybe maintenance is due, and you’re annoyed that you need to replace the timing belt or purchase new tires.

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    So, you get the itch.

    You start digging around online, and you realize you could trade in your current car for something newer and more exciting… all for a few hundred bucks a month. Then you get obsessed.

    Here’s where you have to take a step back.

    Your newfound obsession is clouding your judgement. Rather than giving into the impulse, wait it out.

    Set a timeframe for yourself. Maybe you come back to the decision three months down the road. See if the obsession lasts.

    It might, but often, a funny thing happens. Often, you forget about it. And often, you find that the new car wasn’t a need at all.

    The impulse faded. And you just saved yourself a ton of money.

    3. Live smaller than you can afford

    You finally get that big raise. And you want to celebrate – and why not?

    You’ve been looking forward to this forever. And after all, it was all due to your hard work.

    That’s fine, splurge a little. However, make it a one-time deal and be done.

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    Don’t get caught in the trap that just because you’re now making more money, you should spend more.

    Too often, people get more money and feel like they that gives them the means to buy a bigger house, a bigger car… you know the drill. Resist.

    The fact is that living smaller than what you can afford is one of the fastest ways to build savings.

    But if you constantly upgrade as you begin to make more, then you’ll never get ahead. You’ll just build up more debt along the way and have just as little wiggle room as before.

    4. Practice smart grocery shopping

    Food… it’s one of the biggest portions of any budget. And if you’re not careful, it can be one of the biggest drains on your wallet.

    But luckily, there are a few things you can do to ensure that you stay smart with your money when buying groceries.

    Create a grocery budget

    Set a strict weekly grocery budget. When you know how much you can spend on groceries, you can then plan your weekly menu around it.

    Once you know what all you need, you can go shopping and keep a running tally as you shop to ensure you’re on track.

    I tend to do this in my head, rounding for each item. However, writing it down as you go would probably work best for most people.

    Make a list… and never deviate

    Never go to the grocery store without a list. If you go to the store with a ballpark idea in mind, you don’t have a true ide of what you need.

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    You’re not well-researched. You don’t know what the sales are. As a result, you’re going to make decisions on the fly.

    These impulse decisions will lead to overspending, which will derail your grocery budget.

    Eat before going grocery shopping

    It’s also important to eat prior to going to the grocery store. Hunger is a powerful force.

    If you’re shopping on an empty stomach, everything is going to look good. In particular, you may find a lot of ready-made, processed snacks will look enticing.

    After all, you’re hungry now and that food is easily available. So subconsciously, you may lean towards those items.

    Unfortunately, not only are those items typically less healthy, but they’re likely more expensive. You pay for convenience.

    However, when you eat prior to shopping, then you’ll shop with a clear mind. Your hunger won’t cloud your judgement, influencing you to make poor decisions like a cartoon devil resting on your shoulder whispering in your ear.

    This makes it much easier to stick to your grocery plan.

    5. Cancel your gym membership

    Now that you’re all set on your food, it’s time to get smart about managing your budget in terms of physical fitness. And let’s begin by avoiding the gym. The gym bill, that is.

    The average gym membership costs around $60 per month. That’s $720 a year.

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    Yet, two out of three gym memberships go unused. That means two-thirds of people who have a gym membership are literally giving away almost a thousand bucks a year. It’s crazy!

    I recommend seeking an alternative. One good alternative is to look into fitness streaming services.

    Streaming services allow you to stream hundreds of workouts like Insanity and p90x, right in your own home for around $10-20 a month. That’s $40-50 less a month than the average gym membership.

    Of course, then there’s the free option. The internet is full of free workouts that you can do on your own with minimal or no equipment.

    For example, there’s the Couch to 5K program, that I personally used a decade ago to ease myself from couch potato to running my first 5K race. If I could do it, anyone could.

    Then there are free resources like reddit that have limitless information on workouts. The Fitness subreddit has done all the research for you, populating workout tips and detailed workout routines for anyone to use in their wiki.

    There are several routines that require no equipment. And you can join in on the subreddit to become part of the community, making it easier for those seeking comraderie and encouragement in their fitness goals. All for free.

    It’s baby steps… And baby steps can start now!

    I’ve never met anyone that can’t stand to be a bit smarter with their money. And on the flip side, anyone can get smarter with their money. But remember, it doesn’t happen all at once.

    Begin by fighting your impulses. Prepare for the week and be smart at the store. And cut monthly expenses like gym memberships that are overpriced and you probably aren’t getting your money’s worth out of anyway.

    The devil is in the details. And the details can change your lifestyle and prep you for a financially independent future.

    Featured photo credit: Unsplash via unsplash.com

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