saving

6 Ways You Can Lower the Cost of Pet Ownership

Written by adminJuly 31, 2018

If you have a pet, there’s no doubt you love them like family. You may even consider yourself a parent to your fur baby and count them among your children when people ask how many you have. That’s purrfectly okay with us!

What a lot of new pet owners don’t realize is how expensive it can be. You might think all you have to do is water and feed them, but that’s not exactly the case. If you live in an apartment, you might be charged several hundred dollars and pay extra in rent. Some towns require a yearly tax and regular vaccines.

It’s easy to spend hundreds of dollars per year on toys, food, grooming, pet sitters and walkers if you’re out of town, and so much more. It’s totally worth it, but if you’re living on a tight budget, it can be difficult to keep up with everything that goes along with owning a pet.

Here are 6 ways you can lower the cost of pet ownership:

1) Find a Vet that Does Free Initial Exams

There are numerous vets out there that offer free exams as a way of getting new clients in the door. If you need to take your pet in for any reason, you can save money by choosing one of these vets instead of paying the $60 for a visit. It’s not often pet owners have to take their pets in, but in the event it happens, this will save them money.

2) Don’t Get Your Meds from the Vet

Of course, when you do take your vet in to get checked out, they will push a variety of supplements and medications, which they sell at a huge mark-up in price. If it’s a required medication, have the vet write a script instead. Many normal pharmacies, like Walgreens ad Rite-Aid, will offer pet prescriptions savings programs.

3) Look Around for Mobile Clinics

A lot of cities are willing to help control the pet population and keep the animals we do have as healthy as possible. That’s why you might find a place that offers free screenings, free spay and neutering, and extremely cheap vaccinations, flea and heartworm meds, and microchips.

4) Ask a Friend to Pet Sit

You probably do this anyway, but if you know you’re going to be away for awhile and can’t take your furry friend with you, maybe you can drop them off at a friend’s house or with a family member while you’re away. It sure beats having to pay an additional $60+ per night at a kennel.

5) Don’t Buy Brand New Toys

Pets love stuffed animals and toys as much as the kids do, but unlike your kids, the pets won’t know if the toy you gave them is fresh out of the box, nor will they care. Why buy a brand new stuffed animal for $12 when you can browse a garage sale and get several for a quarter?

6) Comparison Shop

Just like when you by groceries for the family, take the time to do a bit of comparison shopping before purchasing things like meds and food for your pet. Amazon might have a great deal over the local pet store. And as we stated earlier, don’t buy your meds at the vet. Save money and look around first.

Written by adminJuly 30, 2018

Saving

It’s is super easy to get into debt. Life is chaotic and when someone is throwing around what appears to be ‘free money’. If you need (or really want) something hard enough, you can get the financing for it.

There are a number of Americans who stuck to their guns, followed intense programs, and got out of debt once and for all. The problem is, do they stay debt-free, or do they see themselves as having done it once, they can do it again?

It’s a truly liberating feeling to get out of debt, but a little less than half of the country spend more money than they have. A lot of it has to do with the cost of everything going up and wages staying low. If we can’t afford healthcare or to save money, then it’s quite easy to find ourselves pulling out the plastic to afford everyday costs.

In order to stop yourself from getting behind on payments, you have to be proactive with your spending. If you can’t afford something, don’t buy it. In the end, what is the point of eventually paying A LOT more money for something down the road just so you can have it today?

Here’s what you need to do in order to protect yourself.

1) Have a Savings Account

This might sound simple, but most Americans don’t have one! They don’t have one for emergencies, for saving up for vacation, or to pay for things down the line they might need or want. If they had such an account, it would save them wasting extra thousands of dollars down the line to pay for things.

If you have an unexpected bill, you have our emergency savings. If you decide to buy a house and need a down-payment, you have savings. If you break your arm and are out of work for a few weeks, you have savings. It’s better to save money now rather than something big happening later and having nothing at all.

2) Use Cash

This is a big one. Use cash to buy things. When you budget your money, stick the cash in an envelop to prevent overspending. For example, if you set aside $150 for groceries, put that amount of cash aside. When you go to the store, you won’t be tempted to overspend thinking you can just pull out the plastic.

If you want to prevent credit card debt, get rid of the credit cards.

3) Budget, Budget, Budget

This goes with point two, but staying strict means keeping on a budget. Know what you want to spend on things and keep it at that level. By budgeting everything, you will have a better chance at saving money to go into your emergency savings fun by not overspending.

It’s also easy to incur late payment or overdraft charges. If must have a credit card for when times are tough, don’t leave your balance hanging. Pay it off as soon as you can.

If you were able to overcome debt in the first place, these tips and strategies are things you already know work. It’s important to keep up with them to keep your financial freedom. Saving money will always be the preferred way to go over piling on more debt and getting deep once again.

Written by adminJuly 27, 2018

Saving

As the United States continues to move out of the Great Recession of the past decade, economic excitement is high. Jobs are up, unemployment is done, and optimism is through the roof. Tax cuts and promises of more tax cuts by the Trump administration has most Americans feeling pretty great about the future.

Despite this, recessions are a normal part of the economic cycle. Regardless of whether you’re prepared for it or not, the next recession WILL happen and it will come faster than you could ever imagine.

The majority of Americans who struggled during the last recession didn’t learn their lesson and kept pursuing the same behaviors that got them into so much trouble in the first place. They continued to add to their debt, refused to save money, and forced the government to spend trillions of dollars to keep the banks and other industries afloat.

There are a number of economic experts who believe the next recession is just over the horizon and say there’s a small chance it happens between the tail end of 2018 through 2020. In reality, the markets could tank in a matter of seconds and send this upward momentum into a tailspin.

If you want to be prepared so your family isn’t one of the millions who will suffer and struggle to get by during that time, there are steps you can take to make yourself recession-proof. Let’s look at several of them.

1) Create an Emergency Fund

It’s been previously reported that a majority of Americans don’t even have $400 saved in the event of an emergency. That’s bad news! If you lost your job tomorrow, how would you get by? Right now, you might not be without a job for long, as there are plenty of openings out there. But during a recession, work is often sparse.

$400 wouldn’t cut it. $1,000 is crumbs. What you need is at least six months saved in your account to help you for an extended period of time as needed. That’s good advice even during the good times, because companies still decide to close or move overseas no matter the economy. Be prepared for any emergency, big or small.

2) Reduce your Debt

If you have a bunch of debt, as most Americans do, it’s really to your detriment and makes life incredibly hard during a recession. In fact, high debt was one of the causes of the last recession, so when people stopped paying back what they owed, banks needed to be bailed out to survive.

You can consolidate and reduce your debt by calling Financial Helpers today. We can hook you up with various government programs designed to help Americans pay back student loans, reduce their debt payments, and so much more. Call us today to learn more at:

Call Now 1-844-332-2079

3) Balance Your Portfolio

A lot of investors pick a spot or two and throw all their investment into that, but it’s not a smart move. The market might be soaring today, but tomorrow could tank your whole investment. If you spread yourself out, you’re less likely to lose it all. There are a variety of recession-proof stocks and commodities that do fairly well even with everything else is dropping.

4) Improve Your Standing at Work

Most companies don’t shut down completely during a recession. Because so many customers are struggling, they lose money and end up cutting workers to save money. The more valuable a person is to their employer, the less likely they’ll be cut when bad news hits. The company will operate with reduced numbers until the turnaround happens.

5) Cut Costs

Paying off your debt will significantly make things a lot cheaper. If you have a car you’re no longer making payments on, and the house is yours, and the student debt is gone, you’re not making payments on those things. Cutting costs during the recession will be necessary, but cutting costs today to save money and pay debts TODAY is essential to survive.

In order to get through tomorrow’s recession, you must prepare today. Don’t wait until the last minute to decide you’ve been living above your means.

Written by adminJuly 26, 2018

Life Style

Millennials get a lot of slack for being a generation who grew up in mostly wealthy households without much struggle. Many still live at home with their parents, well into their 20s and 30s.

Yet, despite a major debt crisis, crushing student loan debt impacting them directly, and an economy that’s still recovering from the Great Recession, Millennials remain a financially optimistic group of people.

TD Ameritrade conducted a survey that found 53% of millennials believe they’ll become millionaires in their lifetime. A majority of them believe they’ll retire early, before the age of 56.

Despite this burst of optimism in their ability to gain wealth, very few millennials actually know how to make that dream a reality. They haven’t developed a knowledge in how to properly invest and save their money.

The cruel reality is, the age of retirement is getting pushed back longer and longer, with many experts predicting that a lot of retirees will be forced to work until they die. Social security is dwindling to nothing and younger generations are taking on so much debt, it’s nearly impossible to save during crucial years when they need to start.

Millennials simply don’t have the financial literary yet to make a realistic retirement goal. Mass Mutual wanted to find out how many people from this generation actually knew about financial matters, and only 17% of 500 millennials got a perfect score.

As they age, they will be faced with the harsh reality that they simply weren’t prepared for life on their own.

This article isn’t meant to be a judgement of millennials, but a wake-up call. Life won’t turn out how they expected and they must be confronted with that reality as soon as possible if they hope to make it. The future looks grim, so they must be prepared for the fight ahead, as they will endure harsher obstacles than past generations did.

In fact, millennials will have to start saving money in their early 20s, which seems incredibly difficult if they’re living at home due to the high cost of rent and tremendous student debt weighing them down.

The best thing they can do for themselves is become educated on their options. If you’re paying back a lot of student debt, it is extremely difficult to save money. There are government programs that can help you pay off those debts MUCH sooner. Financial Helpers can help you navigate those tricky waters before the programs are shut down for good.

Give us a call to learn your options at:

Call Now 1-844-332-2079

Another thing is to look at ways to curb spending so you can pay off your debts sooner than anticipated. That’s why a lot of millennials still live at home. They simply can’t afford their own place and all the bills that go along with it.

But rather than piling debt on top of debt, millennials can use public transportation, not eat out as much, learn better budgeting skills, get a side gig, make coffee at home rather than the expensive coffee stores, and don’t get a credit card unless it’s low interest.

These steps will help, but it’s up to the person to take the time to gain better financial literacy and have a more realistic picture of their future finances.

Written by adminJuly 25, 2018

Life Style

If it’s one thing the majority of Americans struggle with on a regular basis, it’s childcare costs. In fact, 70% of families say childcare simply isn’t affordable for them, according to a survey from Care.com. There are several reasons for this.

If you’ve been reading our previous blogs, then you know debt is sky high! Americans can barely afford healthcare and savings, much less childcare or other expenditures. It’s even tougher when the economy takes a hit, jobs become scarce, and families end up making less overall.

The reality is, when that happens, the inability to afford childcare will force a parent to stay home with their kids rather than finding work to help contribute to the budget. When that happens, it can cause a lot of strain, as money problems are currently the #1 cause of divorce.

Thanks to these reasons, a lot of couples are waiting even longer to have kids, pushing it off indefinitely until it becomes more affordable for them. In this current economic climate, it’s unaffordable to pay the bills, take care of debt, and save money without BOTH working a full-time job.

To the couples already with kids or thinking about having kids and struggling to get by, they’ll need to figure out new ways to budget to accommodate childcare costs along with saving for other needed expenses. Here are 4 strategies you can try to do just that:

1) Budget for a Baby Beforehand

Before you have kids, life may seem simpler and budgeting isn’t much of a priority. In fact, 68% of families say they didn’t start budgeting until their first child. They didn’t realize or anticipate exactly how expensive things would be until the time came to start paying for their new bundle of joy.

You really need to sit down and determine what you can afford before you even start thinking about a baby, not after. Add up all your bills and see what you have left over for the month. If you’re not sure you make enough, you’ll have to see what you can consider cutting back on for the sake of the child.

2) Look at the Different Options You Have and Compare

Whether you’re looking to have a child, or already have one and are budgeting for the first time, you should have a good idea of what you can spend. Compare that to the type of care you need by doing research on your options.

Do you just need a sitter for after school? A daycare center during the day? Can you afford to hire a nanny? Each option has differing costs. Either way, expect to pay anywhere from $200/week to $600/week for childcare service.

3) Don’t Forget to Incorporate Tax Breaks

The government wants to help families be able to afford childcare, so they offer tax breaks that can add up to over $3,000 per year. There are also flexible spending accounts where they can save up to $5,000 to pay for whatever childcare option they choose. All you have to do to receive this tax break is to fill out an application when doing the rest of your taxes.

4) Ask Your Employer What They Offer

A lot of employers offer a variety of childcare services to help their employees, from offering their own daycare service, to helping their workers pay for their own. You may even have the ability to take advantage of flexible work arrangements that allow you to work from home as needed.

Childcare is a major obstacle for any working parent, but as long as you do your best to budget and find a service within your budget, it’s very doable. This is especially true if you’re able to tap into government and/or employer assistance.

Written by adminJuly 24, 2018

Life Style

It’s that time again. While most parents are secretly (or not so secretly) cheering the end of summer and return of the school season, they also hate it.

According to a survey from eBates, 75% of U.S. parents hate back-to-school shopping season, and just as many teens believe the same. It’s not just the end of summer, though, that causes frustration. It’s the tension between parents and teens that make shopping unbearable.

Teens say their parents tend to wait until the very last minute to get any school shopping done and wish they’d start taking it more seriously. But parents, on the other hand, don’t like that their kids only want name brand clothes and items, which is stuff they usually can’t afford. This is especially true for families with multiple kids going back at the same time.

There’s a lot of peer pressure on teens to only get the latest, greatest fashions, leaving parents to figure out how to appease them while not destroying their budget. It’s not as if parents don’t want to buy their kids the best stuff…they just can’t afford it.

It’s quite easy for parents to give in, as emotions are often put before practical uses of money. Every holiday season, millions of people go into debt to appease family and friends. And more often than not, parents give in and buy their teens the greatest, most expensive clothes and supplies to the detriment of their budget.

Some of what they buy isn’t even practical, but because their kids demanded it, it found its way into the cart. In fact, parents spent over $70 billion last year for back-to-school.

Since it’s mostly teenagers who demand the more expensive items on their list, it leaves us wondering if parents are missing out on a grand opportunity to teach kids about budgeting and the value of money.

In short: if they want the latest and great stuff, why not have them buy it themselves? If you give your children an allowance, tell them you’re only going to spend “X” amount of money for clothes and supplies, so if they want more than that, they need to save and chip in.

Or, if they’re older, a few summer jobs can be used for more than just extra spending money. You can teach your kids how to save some of what they earn to take care of their own needs. Once they realize how expensive their choice of style is, it might bring down some of the tension this time of year.

Of course, it might not, but at least they’ll learn about money, and that’s more important. They’re soon realize that if they want the best of the best, they’ll have to pay for it and it will motivate them to do so.

Another idea is to itemize each ‘category’ and shop online beforehand. They’ll need new clothes, gadgets, school supplies, shoes, and other stuff, so write it all down. Maybe sit down with your teen and plan out everything you want to buy, with the cost, within the budget you set.

And whatever happens, don’t give in. Keeping your budget intact is more important than adding to your debt just to ensure your kid is fashionable going into the new school year.

Written by adminJuly 23, 2018

Saving

If you’ve ever stepped into a dollar store in the past, you might not have been too impressed. In fact, you might not think much of them now and believe they are full of off-brand items, bad lighting, and disgusting food.

A kid might light up, but they didn’t know any better. A toy is still a toy, and if you couldn’t afford the brand-new Transformers or Barbie, then maybe you’d don your disguise and head inside.

But over the last decade or so, dollar stores have upped their game. They’re no longer the pit they once were and can really save you a lot of money, especially if you’re throwing a party and need a bunch of decent decorations for cheap.

You could easily stop by Party City and pay $10 apiece for decorations and spend $50-$60 total. Or, you could go to the dollar store for the same quality items for $1 each. You could buy supplies for the whole party and spend less than $20. And it’s not just party supplies!

Birthday cards, plastic containers, dish soap, craft items, toys, coloring books, paper plates, snacks, and many, many other useful items…and they’re all for a $1 each. Still, you might not find too many name brands, but if you’re trying to live cheap to save money or pay off debts, the dollar store is a godsend.

It gives you the option of still being able to afford having that party without spending half your paycheck doing it. Even if you don’t have a party to decorate for, stopping at the dollar store before shopping can save you a lot on non-grocery items you buy regularly, like toilet paper.

You might just be surprised on what you find there. They thrive on getting you in the door and making a profit on customers being thoroughly surprised and buying more than they intended because it’s only a buck. This may be the only time you won’t feel guilty doing so.

Dollar stores often buy extra overstocked or out-of-season items. It’s like going to Target after Christmas and seeing their decorations at a fraction of the cost. The same idea applies here.

Tips for Saving Big

Even if you find something at the dollar store you buy regularly, it doesn’t mean it’s cheaper. Sometimes, they’ll get you with the brand name and you’ll think you’re saving money, but it’s a smaller size, so you’re actually losing money.

That means you need to do a bit of comparison shopping. Most of the big stores have websites where you can look up prices. If it’s more than $1 for the same amount of product, then you will save money.

Another tip is to know where you’re shopping. Some of the bigger stores might have the word ‘dollar’ in them, like Dollar General, but that doesn’t mean it’s your average $1 store where everything is priced at a buck.

Being a knowledgeable shopper means knowing where and how to save the most money. If you’re watching your budget and need to save a bit a cash, there’s no shame in visiting the dollar store. Your wallet will thank you in the long run.

Written by adminJuly 20, 2018

Saving

It’s a wonderful thing that people are living longer these days thanks to modern medicine. More people are living past their 80s than ever before. While physical health is improving, it’s taking a toll on our financial well-being.

Fewer companies are helping their workers save for retirement, and because we’re living longer than expected, it’s leaving us to wonder how we will be able to fund the entirety of our retirement.

In a lot of cases, we won’t be able to. It’s as simple as that. And it’s devastating to those who are ready to enter that golden age of their lives, but have to keep working because they simply can’t afford to retire.

It’s not just having the money, either. The typical American workforce is changing, thanks to economic disasters that have pulled people out of the factories and on the computer.

Right now, 33% of our workers are freelancers, a number that is growing significantly with each passing year. 16% of these freelancers plan to keep working past retirement age because they simply won’t be able to afford life otherwise.

80% say debt is the number one reason why they’re not saving.

John Stein, CEO of Betterment, believes Americans need to find a new retirement strategy.
“The emergence of the gig economy has changed the American workforce. And the way we save for retirement needs to change with it,” he said.

Of course, this isn’t just for U.S. freelancers, but for workers around the world. Nearly half of all workers and retirees alike believe that the next generation of workers will have it much worse than they do.

Work-sponsored benefits are disappearing. Social Security is dwindling. And extreme levels of the debt, the highest we’ve ever seen, make it impossible for workers to afford their own retirement. It’s a perfect storm of frustration and fear for future workers who don’t want to work until they die.

Catherine Collinson, the CEO at Transamerica, is watching all of this unfold. She says:

“People are living longer than any time in history and birthrates are declining. Employers have been replacing traditional defined benefit pension plans with employee-funded defined contribution retirement plans. Today, individuals are expected to take on increasing risk and responsibility in self-funding a greater portion of their retirement income.”

35% of Americans are considering investing in the stock market, but nearly half worry about an incoming recession and market volatility. Really, all options are seemingly falling apart.

The average amount needed to safely retire on is between $1 million and $1.5 million, which is usually earned over the lifetime of a career. But now, there are plenty of 30 and 40-year-olds who haven’t even been able to save a penny and are racked with so much debt it’s hard to breathe.

In fact, 1-in-3 of U.S. citizens have nothing saved. According to a CNN survey, 56% of us have less than $10,000 saved. Only 13% have more than $300,000. This is showing a huge discrepancy between need and ability to save. It’s particularly difficult for women, as they are less prepared than men and live longer on average.

The best way to conquer this is to save money as if you’re retiring tomorrow. Because of the debt situation, retirement isn’t as much of a priority to Americans and it shouldn’t be that way, especially as you get older. Do whatever you have to do, even if that means you put in extra hours doing freelance to get there.

Written by adminJuly 16, 2018

Life Style

Starting at 3 PM Eastern today and lasting for 36 hours, Amazon is hosting their annual Prime Day sale!

During this time, deals abound all over the website and even extends to Whole Foods.

The only catch is, you have to be a Prime subscriber to get the discount.

There are two types of deals you can look forward to:

-Spotlight Deals focus on a particular brand and offer steep discounts throughout.

-Lightning Deals that happen suddenly and last only for a short time.

The best way to take advantage of the Prime Day deals is through the Amazon app. It allows you to preview the items they’ll have on sale. If you find something you want, add it to your list and you’ll get a notification once the deal starts. It’s that easy!

If you’re an avid Whole Foods shopper, you can also find great discounts and deals at every Whole Foods store in the nation.

Every item that’s on sale will have a “Prime Day Deal” badge.

Currently, Amazon’s site says you can save:

-30% on vitamins.

-25% on furniture and décor.

-25% on snacks and foods.

-An additional 25% on your first delivery with subscribe.

-45% on large photo prints.

-Up to 50% off on Amazon devices, like the Kindle, Fire, and Echo.

If you don’t have a Prime subscription, you’re in luck! Amazon has an option that allows people to share their Prime subscription with loved ones (much like how the whole family shares a single Netflix account). So, if you know someone who does have a subscription, you can ask them to add you.

Happy hunting!

Written by adminJuly 3, 2018

Student Loan Consolidation

Michael S. Shares His Story with Financial Helpers:

Like so many other bright-eyed American teenagers, I graduated high school full of hopes and dreams for the future.

I was told the same story repeatedly. “Mike, if you want to be something, then you need to get a degree.” So, that’s what I did. I packed my bags, kissed my mom on the cheek, and headed off to architecture school.

I had a passion for art and felt I was doing myself a favor by channeling my modest skill into a lifelong career. I knew I wasn’t going to be the next Picasso, so architecture might be the next best thing. It pays well and housing market was booming!

Well, things change. I graduated from Lawrence Tech in the height of the housing crisis. No one was building, which meant no one was hiring fresh-faced architects right out of college who didn’t have a speck of work experience.

They tell you how easy it will be to get a job after your graduate, but they only do that to get you in the door. I must admit, I was growing increasingly frustrated and even downright angry.

I worked SO hard for my degree, putting in long hours and promising myself that life would be great once I graduated, but those promises didn’t line up with reality.

I tried to do it on my own, but had to ask my parents if I could move back in. I got a job at a local sub shop because they were the only place looking for help. It was incredibly disheartening.

Here I am, like so many other graduates, with a bachelor’s degree in architecture, working in a sub shop for minimum wage, and that’s not the worst part.

At that time, I had over $100,000 worth of student debt, which meant that most of my paycheck went towards that. There’s no way I could afford to live on my own and pay this debt, so home is where I stayed.

Eventually, things did get a little better. I had some work experience under my belt, was promoted to manager, which bumped my pay. I then moved on to a decent factory job. It wasn’t architecture, but I felt I was moving closer to reaching my goals.

Still, the debt was killer. It hung over me like a black cloud and kept me from being able to make important life decisions. Should I buy that new car? Can I afford to move out of my parent’s place? If I met a girl, would she understand my situation?

One day, I was browsing the net and came across Financial Helpers. I read an article about refinancing your student loans to get a lower overall payment.

I was floored! This is something the lenders won’t tell you about because they want you to pay the loan in full. The problem is, lenders don’t tend to trust kids with no job and no work experience, so they’ll pump up the rates to the maximum level.

When you graduate and are doing fairly well, that can change the equation. You suddenly become more trustworthy and can negotiate a better deal. That better deal means you’ll end up paying LESS interest and lower payments over the lifetime of your loan.

Not only did I reduce my monthly payment by $80/month, I was able to save $30,000 and pay off my loans much quicker. This is exactly what I needed to get on with my life, move out of my parent’s home, and let them retire in peace.

$30,000 is a lot of money. It’s nearly a full year’s salary. I can’t tell you how thankful I am to Financial Helpers and their ability to help me solve my student debt crisis.

I’m now married and I own a home, but I can’t help but feel bad for the current and future generations of kids who are going to be put through the same ordeal I went through, except for them, it will continue to get worse.

College is becoming increasingly expensive and student loan debt is skyrocketing. No one should have to graduate college with that huge burden on their shoulders.

My advice to students out there: Keep your head up and do your best. There is help out there. Sites like Financial Helpers are there to provide you with options you didn’t know you had and can be lifesavers to everyday people like me.

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