Archive for the ‘Pets’ Category

If you want your dog to wear designer sunglasses and a track suit,* it’s going to cost you.

Thursday, April 14th, 2011

Most people realize this too late, but some things you buy will end up costing you a lot more than the purchase price. Cars need gas, insurance, and fuzzy dice; clothes need cleaning and bedazzling, and pets need everything from pet insurance to grooming to a collection of bad-ass spiked collars.

And let’s face it: some of those things are really impulse buys that wouldn’t be an issue if you didn’t buy the thing in the first place.

Here’s a chart that shows how much money different pets will cost you over a lifetime. Click through to see which pet is the most expensive – it’s pretty surprising.

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(click to see the whole thing)

That’s why it’s so important to have some kind of budget. Without a plan, there’s no telling where your money might end up.

Do you know where your money goes every month? Take our budget challenge to see how your predictions stack up with your actual spending!

*Dressing your dog up might also cost you friends.

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This Fall, Look Forward To High, High Prices!

Friday, February 18th, 2011


(photo credit: Thing Three)

“Most” consumer goods are about to get a lot pricier - food, clothing, appliances, you name it. Why? Commodities, demand, and labor! Here’s what that actually means for you…

  • The cost of raw materials, like cotton, wheat, and metal, has increased wildly in recent years. These raw materials are traded on exchanges kind of like stocks, but they’re called commodities. Just like stocks, the prices of commodities changes frequently.
  • When commodity prices shoot up, it’s more expensive for companies to make their products, and that cost gets passed on to you, the consumer.
  • Besides the price of materials, there’s the cost of people. Workers overseas now demand higher wages than they used to, and with more money to spend, there’s an increased demand for certain goods (like cars and meat). That all adds up to more expensive products.
  • Retailers have been holding off on raising prices to keep customers during the recession, but they say they can’t hold out anymore.
  • Will rising prices lead to inflation? Stay tuned.

Facts & Figures

  • Unemployment in the U.S. is still at 9%, and wages have risen less than 2% in the past year
  • Some brands planning to raise prices include: Nine West, Anne Klein, Victoria’s Secret, Polo Ralph Lauren, Whirlpool, Kraft, Starbucks, Sara Lee, Brooks Brothers, and Hanes
  • Inflation has been low – about 1.4%, but economists expect the rate to rise to 2.5% 2011

Best Quotes

“Consumers are not exactly in the frame of mind or economic circumstances to say ‘Oh, pay whatever they ask.’ There’s going to be pushback.” – Joshua Shapiro, Chief U.S. Economist at MFR Inc.

“These companies are constantly walking a tightrope on how far do I go. Do I offset with price or other cost cuts, or do I just take it and have it eat into my profit margins?” – Jack Russo, Consumer Goods Analyst at Edward Jones

What do you think?

Do you know what goes into the price of the products you buy? Did you ever imagine that the price of popcorn at the movie theater could be connected to weather in the Midwest and a commodites trading floor in Chicago?

Americans Open Wallets Wider Than They Have In Three Years

Wednesday, February 2nd, 2011

The financial times they are a’changing. At least, that’s what these new statistics would have us believe…

  • In 2009, the American GDP (gross domestic product – a measurement of economic activity) dropped more than it had in sixty years. But like a phoenix made up of economic statistics, it rose back up in 2010.
  • We can’t know the exact cause, but the numbers say that people earned a little more, saved a little less, and spent a little more than they had in recent years.
  • Since consumer spending makes up almost three-quarters of all economic activity in the U.S., this is good news. But there are still those issues around high unemployment and a trashed housing market…

Facts & Figures

  • Consumer spending represents 70% of all economic activity in the U.S.
  • In 2010, spending rose by 3.5% – 0.7% of that was in December alone
  • The last time spending rose that high was in 2007 (pre-recession)

What do you think?

Have you been spending more lately? Do you think the economy will recover faster depending on where you spend your money (at independent stores versus chains)?

(Check out this week’s Today at TILE for a closer look at signs of life in the economy.)

“Women want to tame him, but he has loved once, and now is lost…” Romance Publisher Harlequin Offering Personal Finance Books

Friday, January 28th, 2011

Our Canadian friends at The Globe and Mail reveal the latest trend in financial education:

Making personal finance books pink. You know, so girls will read them.

Harlequin, publisher of such romance classics as Alaskan Heat and Surrender to an Irish Warrior*, has already put out one book (The Frugalista Files: How One Woman Got Out of Debt Without Giving Up the Fabulous Life) and plans to publish more in the future.

Okay, we know men and women spend differently and even think about money differently. But will coloring personal finance books pink and talking about shoes really make finance matter for the ladies?

What do you think?

*Trahern MacEgan—his body is honed for fighting, his soul is black and tortured. Women want to tame him, but he has loved once, and now is lost. – eharlequin.com

What You Should Know Before You Budget

Monday, January 3rd, 2011

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Credit: apium

Sticking to a budget is more or less like sticking to a diet: It sucks, and you’re almost guaranteed to fail.

BUT! There’s another way. With a few simple tricks, you can take control of your spending and avoid feeling guilty all the time. Here’s what Tara Siegel Bernard from the New York Times has to say:

  • Let the robots take control. Set up automatic transfers to your savings and investment accounts. It only takes a few minutes. If your savings is being automatically transferred out of your spending account every month, you don’t have to worry about spending it!
  • Start at the finish line. What are you saving for? Saving is easier when you have a goal in mind (a vacation, a new car, an obscenely expensive pair of shoes). Figure out how much money you need and you’ll know how much money to have automatically transferred each month.
  • Separate the fun money from the serious money. If you have a phone bill or rent to pay, keep that money separate from the money you plan to squander irresponsibly at the mall. Obviously.
  • Brace yourself for big surprises. One of the easiest ways to muck up your budget is to suddenly spend a lot of money you hadn’t planned for. This one’s easy, though. Put a little extra away somewhere each month. You can use that to cover your surprise expenses without feeling like a total budgeting loser.

Best Quote:
“Ultimately, what we want our money to be is an energy source. It should help us get somewhere or do something.”  – Amanda Clayman, Financial Therapist (only in New York!)

DailyCandy Editor Lauren Lumsden On Discovering New And Cool

Monday, October 4th, 2010

It’s not every day you get to interview an editor from your favorite daily mailing list, but we somehow convinced Lauren to chat in front of our camera last week. Check out her interview to learn about the dude-ranch-to-web-editor career track and, of course, Bacon Salt.

>>TILE brings you exclusive interviews from people doing great things in SPEND, GROW, and GIVE. To view more, click on TILEcasts in the TILE Library.

Have a burning question or someone you’d like to see interviewed? Let us know – just Ask TILE!

Luxury Sites Replace Luxury Stores

Friday, July 16th, 2010

In a struggling economy, online shopping might replace even the highest high-end stores.

  • In the wake of the recession, luxury stores are forced to sell merchandise on the web.
  • Selling clothes online, though less atmospheric than a downtown boutique, allows profits to go directly to the company by cutting out the costs of a store.
  • Technology’s infinite possibilities has increased the number of high-end online stores, allowing boutiques to make their websites seem as impressive and exclusive as their boutique.

Facts & Figures

  • In 2009, when the worldwide luxury-goods industry fell 8%, luxury sales online were forecast to grow 20%

Best Quote

“These brands are finally taking the plunge to establish an online retail presence. The recession forced these manufacturers to realize they needed to look for revenue wherever they could.” – Jeffrey Max, Chief Executive, Venda E-Commerce Sites