http://dreambigsite.org/ en cdemedeiros@icmarc.org Copyright 2013 2013-05-17T16:27:09+00:00 http://thedreambigsite.org/articles/three-thoughtful-ways-to-spend-your-tax-return-/ http://thedreambigsite.org/u/372/ If you received a tax return this year (and haven’t already reinvested it into your retirement account or another savings account), you’re probably thinking of responsible ways in which the returned funds should be spent. But what you may not be thinking of is how you can invest a small amount of money to do something thoughtful for someone else that could result in you feeling happier as well. Here are examples of ways to spend a little and receive a big return on the joy scale.   Donate If you can spare it, donate money to your favorite charity and you may even get a tax write off to claim next year. Be sure to confirm whether your donation will be tax deductible before you donate.   Bring joy to your workplace with a snack! If you’ve ever walked past a group of Girl Scouts and thought "I’d love to buy some cookies, but there’s no way I’d eat them all." Buy a few boxes anyway and bring them to work to share with fellow employees. They’ll appreciate your kind gesture, and you’ll get to have your cookie fix without feeling the guilt of finishing the entire box by yourself.   Pay it forward The next time you’re in line at your favorite coffee shop, consider paying it forward. Pay for your drink, and then purchase a $3 gift card and have the cashier apply it to the order of the person behind you. Imagine the surprise on the next customer’s face when they find out that you helped pay for their drink.   What are you planning to do to help someone else and bring a little joy to yourself as well?   AC: 0515-6536 Saving 2013-05-17T15:27:09+00:00 http://thedreambigsite.org/articles/intervention/ http://thedreambigsite.org/u/371/ Hello, my name is Brandon, and I am a recovering shopaholic. I have had some dark days as a shopaholic. I used to purchase things, and then hide my bank statements from myself. I would choose clothes over food. I would choose shoes over food, as well. I could justify any purchase, but most of the time there wasn’t a logical justification. I was out of control.   Once I got my shopping behavior under control, I had a lot more disposable income. That also created a dilemma, though. You know the saying, “more money, more problems”? Well, I wasn’t sure what to do with my newfound money. For now, I’m saving it for a future goal: down payment on my first home.   If you are a shopaholic, a first step to addressing your problem is to admit that you have a problem. Here are a couple ways to tell if you might have a problem: You routinely sneak purchases into your home. You lie to people when they ask about your whereabouts and you dread telling them that you are shopping. You think of shopping as a pastime or recreational sport. You are charging your purchases to a credit card and either not paying the bill on time or not at all. There are several ways to go about curbing your shopaholic ways, including this article on spending less by shopping at yard sales and this one on using coupons in the digital age.   Let us know if you have any other ways to tell if you (or someone you know) are a shopaholic. AC: 0513-6540 Saving 2013-05-09T14:30:48+00:00 http://thedreambigsite.org/articles/could-you-live-below-your-means-for-30-days/ http://thedreambigsite.org/u/369/ Living below your means can help you spend less money and save more of it. It is a method of planning that can help you save money for a rainy day, month, or year. Below are five ideas to help you live below your means for the next 30 days.    No upsizing When you go to a restaurant and you are tempted to supersize because you just love French fries or coffee or smoothies that much, challenge yourself to buy the smallest size that will satisfy your needs. If you can get your caffeine fix from a small coffee, don’t order a medium “just in case.”   Shop sale items at the grocery store Before heading out to the grocery store, make a list based on the things that are on sale. Use the weekly sale paper as a guide and plan your meals around those items. After you make dinner, take the leftovers for lunch the next day. To measure your success, compare the amount you spent buying sale items to what you would have paid for these items at the regular price.     Don’t hit the mall (or store website) If you really don’t need to buy clothes, don’t do it! Instead of using shopping as a pastime or stress reliever, do something else. Get out of the house and take a walk around your neighborhood, visit with friends (at their home or yours vs. the mall) or go to the library. These are three places where there is likely little temptation to spend money.     Re-evaluate your cell phone plan If you have a monthly contract with a cell phone carrier, evaluate your plan to see if you are able to cut back on some of your services, such as the monthly minutes allotment or your data plan. The money you save from living below your means can be allocated toward your savings or retirement account — allowing you to save money for a rainy day, month, or year ahead.   There are so many more steps we all can take to live below our means. What are some techniques that have been helpful in your life? AC: 0413-6465 Saving 2013-04-30T14:40:18+00:00 http://thedreambigsite.org/articles/does-your-credit-card-debt-outweigh-your-rainy-day-fund-steps-to-minimize-debt-and-increase-savings/ http://thedreambigsite.org/u/368/ Nearly a quarter of Americans admit to having more in credit card debt than in an emergency savings fund, according to Bankrate's 2013 February Financial Security Index. Are you in the one-fourth of Americans whose credit card debt outweighs your emergency savings? Often, you will need to pay off high interest debt, like credit card debt, before you’re able to save toward a rainy day fund.   Here are a few steps to start decreasing your debt and increasing your savings. If possible, pay more than your minimum credit card payment each month. Review your monthly budget to see if you can afford to pay more toward your bill. Once you have paid your card balance in full, maintain a zero balance to reduce or avoid paying interest. Stay on top of the balance by paying the full amount owed each month. The money you were putting toward your credit card debt each month can now help build your emergency savings account. Set parameters for your emergency fund. Determine how long will you be saving, how much will you need, and under what circumstances will you use the fund. A rule of thumb is to put away three to six months’ worth of your gross income toward emergency savings. Maintain your savings routine. Only pull from your rainy day fund for specific emergencies. If you must tap it, continuing your saving routine will allow you to rebuild your savings. Building up your savings can help you prepare for the unexpected.   Does your credit card debt exceed your emergency savings? If so, what steps are you taking to reduce your debt and increase your savings? AC: 0413-6465 Saving 2013-04-18T14:05:43+00:00 http://thedreambigsite.org/articles/be-my-guest-cutting-the-big-stuff-in-your-budget/ http://thedreambigsite.org/u/367/ A lot of financial advice you see these days pertains to what some people call “the latte factor.” The idea is that if you cut back on the little things you can live without — a daily $4 latte is the usual example — you can save a surprising amount of money without feeling too much of a pinch.   While this is true, it takes a fair amount of patience (not to mention perhaps a little caffeine withdrawal, for some of us) to save up a substantial amount of money if your goal is something bigger — to take a vacation, put a down payment on a car or house, contribute a significant chunk of change to your tuition or retirement savings.   And if life has thrown you a curveball — layoffs at your job, for example — you might not have time to wait for years of non-latte-drinking to add up.   A few years ago, the president of the non-profit organization I worked for held a big meeting and announced that, due to financial hard times, she was cutting everyone’s hours (and salaries) by 20 percent. I felt frantic — living in the Washington, DC metro area is expensive enough as it is, and my job working for a nonprofit wasn’t exactly making me rich. I had to think of a way to slash my expenses — fast.   Instead of merely driving past my local Starbucks every morning and making other smaller changes, I looked at what was by far my biggest monthly expense — rent — and decided to cut it drastically. I sucked it up and moved out my $1,000-a-month (not including utilities) one-bedroom apartment and moved into the guest bedroom of a friend. I pruned and weeded my possessions, donated or got rid of anything I didn’t absolutely need, and stored a few pieces of bigger furniture in my parents’ basement. At my friend’s townhouse, I stored most of my stuff in the guest room and nearby bathroom, but was effectively a housemate, sharing the kitchen and living room.     And just like that, I cut my rent in half. I wrote my friend a check for $500 at the beginning of each month — utilities included.   A move like this isn’t for everyone. I have no children or anyone to look after other than me. Not everyone can ask Mom and Dad to stow the IKEA dining table in the basement for a few months until they can afford a bigger place of their own again. And not everyone would readily swap a spacious (and private) one-bedroom apartment for a much smaller guest bedroom and shared living area like I did.   But if you need to save money fast, I would recommend taking a look at your budget and cutting something big — sharing part of a house with housemates, splitting your apartment with a roommate, taking public transportation instead of driving a car, going without TV or home Internet for a while, dropping the fancy gym membership and buying a few workout DVDs instead. Maybe not forever — just long enough to see some real savings stack up in your bank account. If you make a sweeping change like this, you might not have Internet at your beck and call 24 hours a day, but you can always use the free Wi-Fi at the coffee shop while drinking the $4 latte that you can now afford. AC: 0213-6328 Saving 2013-04-11T15:28:57+00:00 http://thedreambigsite.org/articles/teaching-financial-literacy-to-young-people/ http://thedreambigsite.org/u/365/ Years ago, someone sent me a copy of a newly published book that teaches teenagers the importance of money. As a young adult, I found the information easy to understand and a good reminder of the basics of how to save money for the future.   I thought the book would be an excellent resource for my nieces and nephews  when they were old enough to understand the concept of saving. I have two nieces who are entering high school next year and I think this would be an excellent time to begin sharing the book’s information with them.   Eventually, I will also share it with my younger niece and nephews, as well as my son because I want to pass on to them what I have learned about the importance of saving money. Before I talk to them about what’s in the book, I think a good introduction would be to give them a few pointers on financial literacy that I’ve learned.     Money doesn’t grow on trees While this is cliché, I believe that it’s true and the sooner they realize that they will need to earn every dollar they receive, the easier it will be to understand why they may not get everything they want when they want it.   Practice restraint and save half of what you earn This is a philosophy that my mom taught me when I was in high school after I once spent my entire paycheck on clothes. I’ve since learned my lesson: that by saving money consistently, it adds up — often quicker than you think it will. And while it’s okay to buy something that you want once in a while, you shouldn’t buy everything you want, especially not with all of your money.   Money has greater value than just the amount Not just the value printed on the face of a 1-, 5- or 10-dollar bill, but money’s value is a tangible representation of the time you have spent away from family, friends, or other activities in order to work and earn money. Once you’ve earned money, be sure to value it as would your free time, because that is what you gave up in order to earn it.   Needs and wants are not created equal Before spending money you have saved on something you want, take some time to think in-depth about whether it is something you actually need. Basic needs include food, shelter, and safety. As a child, your parents handle those things for you. You may think that means that any money you earn should be spent on the things you want to buy, but in actuality this is a great time for you to learn how to save and plan to buy the things you want but don’t need. For example, if you want a video game that costs $20, each time you earn money you should save some in a jar or a bank account until you have enough to purchase it. That way, you’ll feel a sense of accomplishment and pride, because you were disciplined and saved to get it.   My hope is that my nieces and nephews will be receptive to this information. But money is not something you talk about just once with kids; even if they forget, I’ll remind them.   Are there any helpful nuggets of financial information that you share with the young people in your life? AC: 0213-6306 Saving 2013-04-01T16:38:47+00:00 http://thedreambigsite.org/articles/four-things-were-doing-right/ http://thedreambigsite.org/u/363/ I recently wrote an article titled “3 Things You Might Be Doing Now that Could Sabotage Your Retirement Security Later,” and as I read it again, four things that myself and some of my friends are doing that will benefit our retirement security and overall finances in the future came to mind. There’s always room for improvement, but there’s nothing wrong with giving ourselves a little pat on the back for at least being on the right track. Below are a few good things that we (and hopefully you, too) are doing to build a secure retirement.   We increased our retirement plan contributions last year, and will do so again this year! Kudos to us for increasing our retirement plan contributions! No matter how much you are contributing to your job’s retirement plan, you should always contribute enough to get your employer’s match if they offer one, and anything you contribute above that becomes bragging rights.   We are actively reducing our credit card debt It’s so easy to get carried away with buying now and paying later, but there’s a trick to staying out of credit card debt — pay off your balance each month and you’ll avoid the stress of long, drawn-out payments because you’re not only paying for the cost of the item, you’re also paying the cost of borrowing the money. For those of us who didn’t start out abiding by that rule, we racked up debt and finally reached the point where we said “enough is enough.” Now, we’ve reduced our credit card debt either drastically or completely.   We are saving for a rainy day, month, and year Saving money is hard to do and there are so many reasons we say we simply cannot save — an unforeseen expense, other financial commitments, childcare, health care, the car breaks down, and the list goes on and on. With the cost of living increasing and pay checks now smaller due to the Social Security payroll tax cut, it’s more important than ever to put aside whatever your budget will allow before problems arise. By making saving a priority rather than an afterthought, financial set-backs have less of a chance to break your budget or your bank account. Experts suggest having three to six months of your income saved in case of a job loss or prolonged health-related issue. And even after you’ve reached the right savings amount for you, keep saving; it can only benefit you in the future. For more about how to evaluate your expenses so you can save, read “The Skeptical Saver’s Simple Steps to Financial Independence.”   We try to live below our means For us, there are no “Joneses” to keep up with because we have long-term financial goals that we are working toward. Because of this, we practice spending responsibly (but do allow ourselves small rewards sometimes) and try to stick to a monthly budget, evaluating purchases before making them—  all of which can be very difficult to do at times. But the beauty of the challenge of trying to spend less and evaluate more is that it’s a learning process, and if you have one bad month, it’s ok because you can resolve to do better the following month.   A round of applause for us! Give yourself a hand, too, and if you have other things you’re doing to plan for a secure retirement, let us in on it. What else could we be doing right? AC: 0313-6400 Saving 2013-03-20T18:20:37+00:00 http://thedreambigsite.org/articles/ready-set-do-something-different-/ http://thedreambigsite.org/u/362/ I always dream about having more money, creating more income, and crafting a plan to do more with that new income or money from saving. This new year I want to do something different; I want to make more money. I will think outside of the box this year and I will expand my earning potential. With some planning, luck, and hard work, I will be earning a bit more this year. Maybe you can, too.   Here are 3 examples of small changes you can make to improve your finances this year. Once you’ve completed one, treat yourself to something small, such as purchasing new music or a book, or perhaps saving a bit more in your retirement. The latter might not be filled with instant gratification, but could result in a long-lasting and rewarding effect. Get a raise — This strategy can be tough, but it’s worth a try. Review your accomplishments from the previous year, then present them to your boss to begin negotiating for a raise. Earn money on the side — Translate your skills into doing some freelance work this year. Whether you are good at website design or landscaping, you have the ability earn some extra money along with your salary. DIY — If you find that your heating or air condition bills are too high, the reason could be that you have an air leak from your windows. Consider sealing the leak yourself. As a result, you can take pride in your effort, fix your windows, and put some money back into your budget. These are only a few examples of different things you can do to increase your earnings or save money this year. Some are easier than others and all of them will take time. Be patient and keep reminding yourself of your goal. What earnings or savings goals have you set for this year and how will you achieve them? AC: 0313-6392 Saving 2013-03-15T12:15:08+00:00 http://thedreambigsite.org/articles/a-college-students-guide-to-making-money-this-year/ http://thedreambigsite.org/u/360/ As a college student, I usually needed money for something — whether it was a textbook, food, snacks, or the occasional off-campus outing with my friends.   Thankfully, I worked summers and was wise enough to save my money so that I could use it throughout the year. My parents also helped me out a great deal. Eventually, I got a job at a local bank and worked around my class schedule so that I could stop bugging my parents. Having a job with a steady (though small) income also helped me to pay for some of my tuition, books, and other needs. It also helped me to avoid obtaining, using, and/or abusing credit cards from the representatives that came to my school almost daily to offer credit cards to me and other college students.   Now that I’ve graduated and have several younger family members who are in college, I want to help them avoid the student debt trap as much as possible. I believe that owing less money when you graduate college puts you on a good path to being able to save more money and contribute to your retirement once you get your first job after college. Below are some of the ways that either I or some of my friends and classmates made money during our college years to help pay for our expenses.   Working on campus Working on school grounds in the dorms as a resident assistant, a tour guide, or store clerk are all excellent ways to make money. In some instances, colleges may give student workers a stipend that is applied toward tuition rather than paying the student directly. Students can visit their college’s administration office to find out about such opportunities.   Getting a part-time job off campus If the school has public transportation or you have a car, working a few hours a week off campus can put some extra money in your pockets. Just be sure that you make your employer aware of your school schedule and how many hours you can realistically work each week before you agree to anything. You’ll still need time to study and participate in other school activities and you don’t want the job to keep you from doing your best and enjoying your college years.   Tutoring peers College can be hard for some and easy for others. If you excel in a particular subject, consider posting flyers around campus to let others know about your skill and service. Set a reasonable price for your customers, and then get to work!     Are there any other jobs that you or your college friends held while going to school? If so, let us know! AC: 0213-6306 Saving 2013-03-04T14:30:39+00:00 http://thedreambigsite.org/articles/leaving-the-nest-get-out-and-stay-out/ http://thedreambigsite.org/u/358/ After a recent conversation with my cousin, who is a sophomore in college, about her plans after graduation, I thought about a new normal where most college graduates that I know personally (myself included) end up moving back home for some period of time after they graduate college — often to transition into adult life while mapping out a plan to become stable, and then ultimately, move out of their parents’ home for good. Let’s face it, some of us simply didn’t have the income to support ourselves financially as newly minted college grads with entry-level salaries. In some instances, my friends’ parents insisted they return home after college and welcomed them with open arms. But once you’ve established yourself as a young, working adult ready to take the world by storm and move into your own place, how do you ensure that you don’t boomerang to the nest after you’ve planned so effectively to leave it?   Whether you plan to sign a lease agreement on an apartment or closing documents on a house, it’s important to plan carefully, because the last thing most people want to do after moving out of their parents’ home is to move back in! Here are some things to consider before leaving the nest:   Do you have a moving fund? If you are living at home, you aren’t paying the same amount of money you’d be paying if you had your own place and can save more. So after you’ve paid your bills, put aside a reasonable amount to help you build your savings. This money can go toward moving costs, down payment on a home, rent for the first few months, or furniture for your new place.   Do you know how much you can afford to rent, or buy? Write down your current after-tax income, and subtract your expenses, including how much your rent or mortgage payment would be. After looking at the total, decide whether you can honestly afford that much each month in addition to saving at least 10% of your salary, and contributing to your employer-sponsored retirement plan, if one is offered at your job.   Should you get a roommate? If you find that you can’t afford to live alone, consider looking for a roommate to help offset the costs. Of course you should set clear expectations and carefully check your roommate’s background and references before entering an agreement.   Is there anything you can cut back on? Consider cutting back some of the extras. Do you really need a top-of-the-line smart phone if a pre-paid phone meets your needs? If you don’t really need to pay for Internet connection in your home, consider going to the public library instead. Wi-Fi may also be free at many of your favorite local restaurants and small businesses. Figuring out what you can live without and making those changes before you move into your own place can help you save before you to leave the nest.     Did I miss anything? What else are you considering as you prepare to move out on your own? Or, if you’ve already moved out, please share what worked for you! AC: 0213-6306 Saving 2013-02-22T13:40:08+00:00 http://thedreambigsite.org/articles/shopping-year-round-can-save-you-money/ http://thedreambigsite.org/u/355/ For me, shopping for a good sale is usually pretty easy because I know when and how to shop for what I want. When I step inside a store, I immediately go to the sale section. I rarely, if ever, purchase anything at full price.   In the past, it seemed that a good sale could be found only after the holidays, especially the day after a Thanksgiving, known as Black Friday. Over the past year, I’ve noticed a shift in some retailers’ strategy to attract buyers where stores are starting to offer special prices even earlier. Near the end of the year, sales begin right after Halloween in an attempt to get customers to start shopping early for the holiday season.   Some stores even remain in sale mode until after the holidays are over. This shift is something that can benefit consumers because we are able to continue getting some great deals, especially when traditional stores compete with online retailers.   Coming from a savvy consumer who wants to save money, this is a strategy you may be able to use to your advantage.AC: 0213-6306 Saving 2013-02-13T17:06:41+00:00 http://thedreambigsite.org/articles/how-to-minimize-your-chances-of-identity-theft-this-tax-season/ http://thedreambigsite.org/u/354/ Identity theft is never a good experience for the victim and it’s important to be vigilant about protecting your identity at all times, including tax season. Tax filing season is one of the times when many people can be particularly vulnerable to identity theft.   According to a Yahoo Finance article, “Tricks That Identity Thieves Use,” the IRS reported more than 640,000 tax identity theft cases in 2012, a 62 percent jump from 2011. Identity theft may be becoming more widespread due to advances in technology and an increase in database hacking. A hacker can steal your identity by simply knowing your name and Social Security number.   The IRS has few simple steps that you can take to minimize your chances for tax fraud this year: Don’t carry your Social Security card or documents with your Social Security information on it. Give your service or product providers your Social Security number only when required and if assured, in writing, that it will be held in a secure database. Check your credit report every 12 months and if you notice a discrepancy, report it to the IRS immediately. Protect your financial information by shredding legal and financial documents. Protect your information on your personal computer by using firewalls and spam filters. Don’t use your mobile device to fill out financial documents, unless you are on a secure WiFi network. Don’t give personal information over the phone, through the mail or on the Internet, unless you have initiated the contact or you are sure you know who you are dealing with. According to the Yahoo Finance article,children are more likely to be victims of identity theft, as parents are less likely to regularly monitor their child’s Social Security information. So remember to also take similar precautions to safeguard your children’s information.   Protecting oneself against identity theft — during tax season or when conducting everyday business — is always important. For general information on identity theft protection, you may visit the Federal Trade Commission’s website at www.ftc.gov.   While we believe the external websites listed above are reputable, we neither endorse them nor can vouch for their complete accuracy. AC: 0113-6270 Saving 2013-02-05T13:00:36+00:00 http://thedreambigsite.org/articles/three-small-changes-that-will-help-me-to-save-big-in-the-new-year/ http://thedreambigsite.org/u/353/ Each year at the end of December, I mentally take stock of the things I want to change for the coming year. I make a short list of financial and personal goals and try my hardest to stick to them. This year is no different. As I begin to think about my goals, I’ve listed a few small financial changes below that will ultimately help me reach some of my financial goals. I’m hoping that if I stick to doing what I’ve listed below, I will be able to save myself at least $600 over the course of the entire year.   Cut back on the extras Over the past year, I admittedly haven’t been getting as much sleep as I should, and to compensate, I’ve taken to drinking more coffee. Which isn’t so bad, but the issue is that I don’t just get regular coffee, I like the specialty drinks, so not only have trips to my favorite cafe become more frequent, they are also more expensive. My two-times-a-week visits, at $4.35 per cup, cost me about $417.60 per year. By cutting back and going no more than twice each month, I’ve found that I can save myself $313.20 this year.   Borrow books instead of buying them I love books. To me there is nothing like reading an interesting story — page by page— from a book. Don’t get me wrong, I do like the fact that I can read books on my smart phone or e-reader and not have to carry around anything extra in my bag, but still, I remain partial to a hard copy book. So when a good book that I want to read comes out, I usually make a trip to my local bookstore where I make a purchase of at least two books. My rationale is that I’m going to keep it anyway, so I might as well purchase it instead of borrowing it from the library. Thanks to this habit, my bookshelves are now filled with literature that I love, but can’t bring myself to part with, so in an effort to help pare down my collection and make sure it doesn’t become unmanageable, I’ll be visiting my local library much more than I have over the past few years. By not purchasing two books at about $20 each per month for an entire year, I can save myself $480.   Bring lunch more often Don’t get me wrong, I’m not the type to buy lunch every day. In fact, I usually bring my lunch every day for at least two weeks per month. My goal here is to bring lunch enough times that it will average out to three weeks per month rather than a measly two. If I can do this, I could save myself $840 over the entire year! That sounds like a ridiculously high number, but if I’m purchasing lunch at $7 per day for 10 days each month, it really adds up.   So altogether, just these three small changes in my spending habits will save me well over my goal of $600. That alone will be enough to keep me on the right track!   What are some of your financial goals for the coming year? AC:0113-3254 Saving 2013-01-28T12:18:59+00:00 http://thedreambigsite.org/articles/how-much-is-that-doggy-in-the-window-/ http://thedreambigsite.org/u/352/ Thinking about spring weather and outdoor activities I’d like to partake in, I have been considering purchasing or adopting a dog. Dogs make wonderful companions and tend to make people more active.   However, when considering the pros and cons of having a pet, I cannot disregard the costs of owning one. I’ve asked myself, “Can I afford a pet right now?”   According to American Society for the Prevention of Cruelty to Animals (ASPCA), in addition to the initial purchasing fee, owning a pet can cost upward of $1,800 a year. And this projected amount doesn’t take rental property pet fees and/or deposits into account, which can amount to an additional $1,000 more a year, on average. Taking into account condo fees, my projected annual cost of owning a pet is $2,800 — more than the total cost of filling my car with a full tank of gas twice a month for two years!   Below are some of expenses APSCA lists as basic annual costs. Please note that these fees may vary based on your geographic region, pet of choice, and other factors. The expenses listed below are representative of a large dog.   Expense Annual Cost Food (recurring)1 $235 Medical2 $260 Toys/treats $75 License $15 Health insurance3 $225 Misc. $65 Spay/neuter $220 Other initial medical4 $70 Collar/leash $35 Crate $125 Training class $110 Grooming $408 TOTAL $1843   While owning a pet can be fulfilling, it also comes with a huge responsibility and financial commitment. So for now, I’ve decided to postpone pet ownership. Before purchasing a pet you may want weigh the pros and cons and consider the costs involved.   Are you and your family considering adopting or purchasing a pet? Or do you already own a pet? Do the benefits outweigh the costs?   Disclosures:   1Premium brand dry kibble 2Exam, vaccinations, heartworm preventative & topical flea/tick preventative 3Insurance coverage varies: some policies cover spay/neuter, vaccinations and heartworm  medication. The annual deductible will also vary depending on the policy. 4Deworming, basic blood tests & microchip   Source: ASPCA While we believe the external website listed above is reputable, we neither endorse it nor can vouch for its complete accuracy. AC: 0113-6205 Saving 2013-01-09T10:58:39+00:00 http://thedreambigsite.org/articles/what-would-you-give-up/ http://thedreambigsite.org/u/351/ For many people, the question “What would you give up?” is a tough one to answer, but what if someone asked you more specifically, “What small thing could you give up on a routine basis in order to save for something big, like retirement”? What would your answer be?   For me, the first thing that comes to mind is movie theatre popcorn and a soft drink. Purchasing these at the theater could put a dent in my pocket book, especially if I were to pay the full price of a movie theatre ticket (about $10 each and up!). Altogether these purchases can really add up and can be a drag on my plan to save enough for a comfortable retirement.   Thinking about what you can and are willing give up in order to save for a long-term goal can be a little abstract. But what if you could actually save by giving up just a few small splurges?   For example, the average cost of a pack of cigarettes per the American Lung Association is $5.51, rounding out to about $6.00. For an individual who smokes 4 packs of cigarettes per month, that would amount to $24 per month. In one year, it would be $288. Over 20 years, it would be about $5,700. That’s money you could be saving toward retirement or another significant long-term goal.   What small item(s) would you give up and what long-term savings goals can you apply your savings to? Send in your comments and let us know.   While we believe the external website listed above is reputable, we neither endorse it nor can vouch for its complete accuracy. AC: 0113-6205 Saving 2013-01-04T19:35:22+00:00