Five Ways To Save Money On Pet Costs

As the millennial generation grows up (people born 1981-1996), many couples are actually substituting the idea of having children with have pets as the cental focus of their family.   According to the American Veterinary Medical Association (AMVA), the 2012 Pet Ownership & Demographics Sourcebook showed that almost 40% of households in American had a pet dog.  Cats were at 31% falling in seconds place and a litany of other animals were further down on the list.   It turns out that if you ask most people what they think the cost to own a dog will be during its lifetime they gave an answer of $6,000.  However, the range actually falls between $27,000 and $42,000 in actuality over the course of ten years.  Of course children are more expensive, but here are five ways you could save money if you have a pet. Schedule Regular Checkups – We know that it is always better to be proactive versus reactive when it ...

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How To Use LinkedIn To Make More Money

Most of our articles strictly talk about personal finance, but I thought it would be cool to teach you about how to use the Social Media platform LinkedIn to help you make more money either with your career or your business. Many business owners and individuals that I help at Hyperchat Social (Try Hyperchat Today) often ask about how to generate leads or get a pay raise at work. We know that lead generation is the end all be all problem for most business owners or individuals trying to grow their income.  What’s surprising is how many business owners don’t take advantage of free leads that may be right under your nose because you just didn’t realize how to get those leads. Since the beginning of 2017, LinkedIn decided to completely overhaul their platform and interface with LinkedIn users.  It shouldn’t come as a surprise to you that LinkedIn is feverishly trying to figure out how to create more recurring ...

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Four Moves To Make Before Interest Rates Go Up

It’s been roughly a decade since the housing collapse in the United States, and if you haven’t checked as of late the homes and buildings are going up in your neighborhood like a 2007 party.  Part of the main reason for the boom over the past decade was the loosening of the monetary policy keeping long term borrowing rates next to nothing. Those of you who locked in 30-year mortgages between 3% and 4% should thank your lucky stars because we may not see those rates again for another 20 years or more.  Now that the United States has hit record low unemployment and corporations across America are making record profits, the Fed is now beginning to tighten the monetary policy.   Mortgage rates were between 4.5% and 4.6% for a 30 year mortgage during the week of February 25th, 2018 (source: bankrate.com) So, what four smart money moves can you make as the Fed tightens up the money supply? Cut ...

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What’s Best? Buy, Lease, or Rent A Car

One of the day to day family financial decisions we have to make as adults is whether or not we should buy a car or lease a car.  Over the past twelve months, there have also been options popping up across America around the concept of joining a subscription service and renting a car.  Making the right decision for your family can potentially not only improve your budget, but it could also improve your lifestyle.  Here are my side by side on whether you should buy, lease, or rent a car. Buying A Car – There are lots of considerations when you buy a car, but traditionally I have only been a fan of buying used cars that are two to three years old and the large initial depreciation wears off.  You can cover yourself by buying a bumper to bumper 100,000 mile extended warranty if you have concerns about something major happening to the car, but I like the ...

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Why Investors Can’t Measure Their Own Risk Tolerance

When people start investing money, one of the exercises they engage in is determining their own risk tolerance.  Usually, this process is handled by filling out some sort of questionnaire that has multiple choice questions like the one below. ‘If you had $10,000 to invest, would you….’ Be willing to chance earning 30% growth knowing you could lose 30% Be willing to chance earning 10% growth knowing you could lose only 5% Be willing to lose nothing knowing you could earn no more than 5% We often whisk through these quizzes at a blazing pace because in a simulation exercise we know exactly who we are.  However, there are two types of behaviors that we have within our personality.  How we act in a natural state when we are relaxed and have no pressure.  Then, there is the adaptive state when we are under heavy pressure.  Unfortunately, these quizzes don’t really put us under any pressure so they don’t really ...

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Five Steps To Build Up An Emergency Cash Reserve

One of the most important financial planning questions we often hear from clients is around how much money to have in a cash reserve.  People struggle with this question because the reality is that there isn’t an exact answer.  For many years, the general rule of thumb was to build up three to six months in an emergency reserve in case of emergencies or opportunities.  However, some people feel with the availability of credit and other assets that can be readily liquid that they don’t need to keep much money in an account that doesn’t bear much interest.  Here are five steps to build up an Emergency Cash Reserve. Determine Your Need This is really the first step in figuring out how much money you need for a cash reserve.  Since most transactions are done electronically today, many families really don’t know how much their family ‘burn rate’ each month.  What we are talking about is how much your fixed ...

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The Best Five Places To Invest In 2018

We are a few weeks into 2018, and you might be wondering where are the best five places to invest for the rest of 2018.   With the stock markets hitting all time highs, cloudiness over the rise in interest rates, and the bitcoin practically on the news every day, this can make sorting out the best place to invest difficult for the average investor.  As we sort through all of the mazes of information and news, here are five places you should consider investing for the rest of 2018. Artificial Intelligence – AI’s growing market potential, which is estimated to be worth $46 billion dollars in just three years from has several paths to consider when investing. AI can seem confusing to people, but consider something just as Amazon’s just walk out technology http://bit.ly/2rnY8YJ or the new bill shopping chatbot Ask Trim which can automatically shop bills such as your cable bill or mobile phone bill.  AI can be used ...

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The Best 2018 Tax Moves To Make Now

As the new tax law goes into effect, many people are starting to wonder how this will affect their overall paychecks.  You should see some bump in your paychecks when the new tax tables go into effect somewhere in Mid-February or early March, but there are a host of financial decisions that you need to start considering now in order to maximize your own tax situation. Adjust your withholdings – It’s ironic that most people give themselves a high five when they get a refund come tax time. Not only do you allow the Government the use of your money for a year, you also get taxed on your own state refund federally the following year.  Since we have new tax brackets and tax tables, you should really look at your withholdings here in the spring to maximize your cash flow here in 2018. Remember, if you are getting your taxes done, Turbo Tax and Tax Slayer are two low ...

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5 2018 Sticky Financial New Year’s Resolutions

It’s 2018, and that means that most of you have made at least one New Year’s resolution.  For most of you it will surround either diet or exercise, but for some of you getting your financial plan in order may rise to the top of the list. With the average American now surpassing more than $16,000 of household credit card debt, it may appear that feeling flush has left us spending out of control.  In your smart money moves fashion, here are my ideas for a sticky 2018 financial New Year’s resolution that can help you grow your bottom line. Get Your Financial House In Order Set Up An Online Account Aggregation System – At oXYGen Financial, we have been using a personal financial dashboard for almost 10 years in helping our clients get their financial house in order. You can learn more about this by going to oXYGen Financial, but there are also other systems online including Mint and ...

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Five Items To Buy After Christmas

When the Starbuck’s Christmas cups go away and your neighbors begin to take down their decorations, the last thing in the world you probably want to do is to be thinking about shopping considering you’ve been fretting about it for the past month.  While it may feel like we get deals galore thrown in front of our faces during the month of December, once Christmas season is over, you may be able to snag yourself a really good deal if you know what to buy.  I’ve put together a quick your smart money moves guide on five items you might want to consider buying after December 25th (mind you that it’s probably better about the second week of January). Electronics – While you can get a really good deal on video game consoles and cameras, the one electronic I would really keep my eye on are high definition televisions. Remember, each January the Consumer Electronics Show takes place in Las ...

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