10 Ways to Reduce Monthly Expenses without Much Effort

Whether you make $45,000 a year or $250,000 a year, finding ways to reduce your cost of living is vital for long-term financial stability.

We know what needs to be done, but many of us struggle with how. We’re already strapped for time, and adding one more thing to our “to do” list is not appealing; no matter how much money we’ll save. So, I put together a list of things that are easy to implement into our daily, weekly, and monthly routines AND help to reduce monthly expenses over time.Read More

8 Awesome tips to slash pet care costs

A pet (whether a dog or a cat) can be your best friend and bring happiness in your life. But, being a pet owner can cost you between $640 (for a cat) to $1,500 (for a large dog) annually. These costs typically include pet supplies, food, and veterinarian visits. If you’re considering getting a pet keep in mind that pet care expenses can get heavy on your pocket if you have a limited budget. If you currently have a pet, here are a few tips to help you reduce pet care costs.

  1. Get pet food from discount stores

According to Consumer Reports, membership warehouse stores such as Costco and Sam’s Club, and big retailers like Walmart and Target offer the best deals on cat and dog foods. But if you want to cut down on trips to the grocery store, consider making homemade pet food.

Your pet requires foods that contain protein, fat, carbohydrate, calcium, and essential fatty acids. Foods like eggs, salmon, seafood, yogurt, cooked chicken, and oatmeal are filled with these nutrients. Try to avoid foods like grapes, garlic, avocados, walnuts, and apple seeds (also avoid salts) as these are dangerous for your pet. If you want to try to prepare meals for your pet at home keep this in mind.

  1. Use homemade pet toys

You’d be surprised how content your furry friend is with things you have at home like a simple sock toy, towel tug toy, rope ball, pop bottle toy, etc. These are safe and pocket-friendly too. Here are a few homemade pet toy ideas.

  1. Avoid overfeeding

In 2016, the Association for Pet Obesity Prevention (APOP) reported that 34%  of dogs and 28% of cats in the US are overweight. An obese pet will not only cost you more in food but can lead to other costly health problems such as acute liver failure (costs between $1000 to $10,000 to treat), diabetes (costs around $30 to $40 per month to treat), and so on. Visit a veterinarian to find out if your pet is at risk for obesity and to determine their ideal weight for their breed.  Inquire about the recommended daily calorie intake for your furry friend to maintain its ideal body weight.

  1. Purchase pet meds from discount retailers

There are a variety of places that you can purchase your medications. Consider purchasing your pet’s medicines at discounted rates from reputable providers such as PetCareRX and 1-800-PetMeds. Did you know that you can also purchase your pet medications from Kroger or Target’s pharmacy for as less as $4?

  1. Brush your pet’s teeth regularly

Dental procedures are costly. For instance, a tooth extraction costs between $150 to $600. Brushing your pet’s teeth regularly will keep gum disease at bay. Once your pet gets familiar with the process, you should brush their teeth between two to three times a week. But, don’t use toothpaste made for humans as it may upset your canine’s stomach.

  1. Quit pet health insurance

Insurance is known to help us in dire situations. But, for most pet owners purchasing pet health insurance is not a smart financial move. The most profitable insurance policies provide protection against financial ruin or extreme hardship as opposed to economic inconvenience. However, unless your pet’s medical expenses are creating a huge strain on your finances, it’s better to skip the insurance.

  1. Find a financial helping hand

If you are having a hard time keeping your pet, look into resources from your local non-profit organizations. They often offer free or significantly discounted pet food, vaccinations, medical care, and spay or neutering services.

  1. Opt for longer term vaccinations

Have a talk with your veterinarian and find out what vaccinations your pooch truly requires. If possible, choose 3-year vaccinations over the annual ones as they’ll save you more money.

Bonus tips: There are millions of lovable animals that need homes. If you don’t have a pet but are considering one, you can save more money by adopting a new dog from a shelter, instead of buying from a breeder or a pet store.

The Truth About Car Ownership + How To Save Money on Car Expenses

This post was created in partnership with AutoGravity.

Ride-sharing companies such as Uber and Lyft have revolutionized the way we travel, but for most people owning a car is still a necessity. This is especially true if you live in a city that doesn’t have a comprehensive public transportation system.

But owning a car, new or used, can be expensive. Similar to homeownership, car ownership isn’t just a monthly car payment and your auto insurance. It is important to take the following additional costs into consideration while calculating the potential costs of ownership. Read More

Here is Why Debt Elimination Can Be Difficult PLUS A Helpful Debt Repayment Tool

This blog post is part of the Pay Down My Debt (PDMD) blog tour, sponsored by US Equity Advantage. PDMD is a solution that accelerates debt payoff and helps consumers monitor their credit and make smarter purchasing decisions. If you’re looking to pay off debt, find out how they can help.

Human beings are pack animals and have an innate desire to belong . For many the desire to belong leads to debt. This phenomena is often referred to as “keeping up with the Joneses.” This English language phrase refers to individuals that live beyond their means to achieve or maintain their social status. Keeping up with the Joneses  and debt have become a way of American life.  According to CNBC, in 2015  8 out of 10 Americans had some form of debt.Read More

Women & Money: How to Increase Your Income by Asking For What You Want

Working with some of the best business people in the game, both men and women, has led me to a conclusion. The difference between successful businesspeople and those who just get by is the ability to ask for and receive what you want. It’s something that so few of us, especially women are willing to do. When it comes to making the ask in business, statistics show that women don’t do it enough.

Read More

How to do an Annual Insurance Review

Every year, Americans spend thousands of dollars on insurance. In fact, according to a report done by the Bureau of Labor Statistics, Americans spent about $9,359 on insurance in 2015. That’s a lot of money to give away to insurance companies! This is why it’s very important ensure that what you pay for actually covers your needs. About once per year, set aside time to review your insurance.

Reasons to review

There are several reasons why you should review your insurance each year, but here are a few common things to look for:Read More

5 Ways to Stop a Student Loan Wage Garnishment

Your wages are being garnished for a defaulted student loan. You need it to stop. Here’s how to stop an administrative garnishment quickly.

You’re looking at your paycheck. It’s short. There’s a garnishment. You don’t know what you’re being garnished for so you call HR. The HR rep tells you the garnishment is for a defaulted federal student loan. You’re not sure what to do but you know you need it to stop. You google: How to stop an administrative wage garnishment. Now you’re here.Read More

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Created by nationally recognized millennial money expert Tonya Rapley, My Fab Finance is a leading financial education and lifestyle blog for millennials who want to become financially free and do more of what they love.
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