The conversation generally runs along the lines of:

Me: “Did you make any non-cash charitable donations to Goodwill, Big Brother/Big Sister, etc.?”

Client: “Yes, but I’m not sure how much?”

Me: “Did you get a receipt?”

Client: “I’m not positive where I would have put it if I did…”

If the above mentioned client were to get audited, the IRS agent would inquire as to what type of non-cash items were donated and the value of such donation.  The majority of my clients donate clothing and household items; such as, kitchen appliances, furniture, etc.  I never really know if my client’s truly understand the actual “Good Price” donation value that should be used for tax purposes.  So just in case, I’ll attach the latest information from Goodwill Guide that was provided to me on my last visit:

The truth is though, I hope you have done your own research.  And by research, I mean product research – the trial and error research that comes with constantly trying out which razor type works best for you and not buying based purely on marketing like I have done.  There are numerous different brands and types that you can try to figure out what works best for your needs and your budget! While I cannot attest to trying every brand and type that is out there, here is what my research determined…

I discovered that I was paying way too much for what my needs are.  I should be honest, I should probably shave my legs more (just ask E, he’ll tell you that I need to do more product research!) but that is a post for another day.  What I realized was that all I need is something that takes the damn hair off my body and makes me actually silky smooth.  For years, I have been buying the Gillette Venus razors with the shaving cream build into the razor head because it was easy.  I’m not completely lazy but in the early morning without contacts, I could probably use the easiest possible solution to get me to shave my legs!  Have you ever price compared the other type of razors though?  I continuous stayed with the same brand for years out of habit.  I would spend about $20/month on these razors just for the detachable heads.  I even started to shave less just so I would not run through a package so quickly.  I started to realize that I was not budgeting for this “necessity” in my monthly budget at all.  If this was a place where I could cut back, then it was worth the trial and error research for a few months.

I tried all different types of razors, brands and shaving creams during these months.  From my research, I realized that I did not really see much difference between the disposable razors and the fancy built-in shaving cream razors except for price.  The leading disposable razors range from $3.99 to $8.99 in price (depending on how many razors in each package) plus about $1.99 – $8.99 for a bottle of shaving cream.  The fancy built-in shaving cream razors cost about $12.99 to $21.99 (depending on how many razors in each package as well) which is a huge increase over the disposable brands.

My winners:

In my case, I was able to switch and “shave off” about $15/month of useless expenses.  This cost might seem small in a per month figure, but over the course of the entire year it will save you from throwing away about $180.  My goal is to just show you where you can save some dollars, decrease that love/hate relationship with Target and what you should include in your monthly budget.  I also am fully aware of the “you should buy these items in bulk to save money” philosophy as well, but what you do not realize is that you have to come up with the money up front to pay for a stock pile of razors which can easily blow your monthly budget.  Budgeting should be done monthly and you should really only be purchasing items that you will consume this month.  That will help you from over purchasing and letting $ pile up in items throughout your house.  Those items tend to go unused and add to monthly expenses that could be decreased.

Now have you done your product research?  What type and/or brand of razors do you purchase and why?

In real life, I plan to take over my family’s consulting practice which focuses on accounting and income tax preparation.  I have been working in my family’s office since I could figure out the copier and have been engrossed in preparing returns ever since.  While I truly think my family’s practice is topnotch, I realize that there is a generation gap between who are clients are and who I want them to be.  I’m in that 20-35 age group and am actively targeting that market because I can relate to it.  I developed The Financialite around that idea to speak directly to the internet savvy, technology focused generation.  We are the generation who wants to achieve things, who want to start our own businesses and make our mark in this world.  We are full of ideas and the creativity to get results to achieve those ideas.  I’m here to help with the financial aspect of getting people to achieve those results.

Being at the conference has giving me the motivation to define what I want this blog to be about and what direction I need to move in to get myself there.  The conference to me was about meeting the faces behind the names that I have been talking to for the last year which might I add was somewhat eye opening.  Some bloggers that I was thrilled to meet disappointed me in person and others blew me away.  It allowed me to meet bloggers who I had not had the opportunity to discover yet and toss ideas around with.  It opened doors to relationships that I know will be mutually beneficial and will be supportive through the development of both of our blogs.  That alone was worth the trip!  Thank you to all that I met and connected with.  You are all inspirational in your own unique ways and I hope to continue those friendships throughout the blog-o-sphere!  Please check back frequently as my blog continues to grow

Here are some of my favorite bloggers at the conference…

Now that the initial shock of “ohmygod, how dare they increase their prices by 60%” has worn off, how do you really feel about your Netflix subscription? I have to say that I think Netflix’s concept is outstanding. In 1999 when Netflix first launched, it was a subscription-based digital distribution service that probably none of us were members of. Over the next decade, Netflix became a household name as a provider of on-demand internet streaming media. With over 10 million subscribers and over 100,000 of various movie and television titles for its customers to choose from and continuing to grow at record speeds.. why would you not subscribe to their services?

How does it work? Original, you would select what movie that you desired and that movie was mailed directly to your house in a neat little red envelope. When you were done watching the movie, you just popped it back in the mail in the same envelope and Netflix would send you the next movie in your queue. No due dates, no late fees, no shipping and handling fees and no trips to the movie store – just a flat-fee unlimited rental service straight to your door. Then, Netflix expanded on their original business model and started offering instant streaming of movies and television shows online over the Internet through their “Watch Instantly” option. This was a big step for them, but despite current contracts, a lot of the streaming selection is limited and outdated. (note: still a win on some levels as I got to see every episode of Arrest Development start to finish – highly recommend it if you haven’t seen it yet!)

So what’s the fuss all about? With Netflix announcing that as of September 1, 2011 there will be new price changes for its existing customers. The price plans would essential be a 60% price increase on its combination DVD and streaming plans that were mentioned above. Now, I believe that its completely understandable that the price of Netflix’s services were bound to go up at some point due to new licensing agreements and the company wanting to add more and more titles to its impressive collection, but 60%?!? How does this break down for the everyday person? Just think about it this way..

If you subscribe to the “Watch Instantly” streaming only, it $7.99/month x 12 months = $95.88/year.
If you subscribe to the “Unlimited DVDs” only (one DVD at a time), its $7.99/month x 12 months = $95.88/year [$11.99/month for 2 DVDs at a time]
If you want both the “Watch Instantly” and “Unlimited DVDs” (one DVD at a time) together, its $15.98/month x 12 months = 191.76/year [$19.98/month for 2 DVDs at a time, $23.98/month for 3 DVDs at at time and $29.98/month for 4 DVDs at a time]
Or a limited plan of 1 DVD out at a time with a limit of 2 rentals per month, its $4.99/month x 12 months = $59.88/year.

None of these plans seem significantly outrageous to me. I guess the question is personal though, how many DVDs do you actually watch per month? Would the price that is stated be worth your money? In our household, my fiancee and I were living in separate states for a few months while we sorted out our move. Since he works odd hours, he would generally watch a movie when he got home from work. I did not have a DVD player at my place, so I generally used the “Watch Instantly” feature on my laptop. For us, we had the Unlimited streaming plus Unlimited DVDs 3 out at a time. This worked great for us at the time, but given the price increase and the fact that we are actually living under the same roof once again, we have decided to drop our package to Unlimited streaming plus Unlimited DVDs 1 out at a time. It seems more economically sound for us and still allows us to request the movies that we would like to see that are not yet offered in the “Watch Instantly” feature. That is the plan that fits our budget and will satisfy our entertainment needs! What about you? Have you changed your Netflix subscription at all? Did you outright cancel it?

UPDATE on 9/22/11:  Eddie was right, he had a feeling that this was just the beginning of more changes that were going to be coming to Netflix!  This past week, Netflix announced that it will split into two companies.  Netflix will still manage their online streaming network and a new division will manage their DVD services called “Qwikster.”  I feel that a split is NOT the end of the world and maybe it will allow each company to focus more on the needs of their customers.  On the plus side, there were no additional price increases with this announcement, just the confusion over having to now manage two accounts and have two charges on your statement for each service.  Does anyone feel as if this will make them re-evaluate their services with Netflix?  Will this lead to more cancellations?  Any other options to use for these services?  I would suggest Redbox since I am a financialite, but I have to say that I continuously forget to return the damn DVDs and always get charged a little extra each time I rent there.  I prefer Netflix as I can just drop them in the mail and be done with it!

Ever heard of a running club?  Boston is home to many running clubs and what a way to get some exercise, make new friends and NOT spend a ton of money on a membership.  I did a little research and thought it would be fun to share with you in the spirit of marathon season.  Check out these local running clubs that I found in the Boston area:

Cambridge Running Club – $120/year

Community Running – $120/year

The Greater Boston Track Club – $60/year

L Street Running Club of South Boston – $45/year

Please note: a listing of all Massachusetts Running Clubs

For the cost of $10/month or less, I could join one of these fabulous running clubs in Boston and start exercising again.  Is anyone currently a part of one of these running clubs?  Or want to join one with me?  I’d love the motivation of a running friend

For me, I have been to the same dentist since my first cleaning as a toddler and have religiously gone every six months for my entire life.  That does not mean that I have not had my fair share of cavities, teeth pulled, retainers made, etc. but it just means that I have put myself on a schedule to ensure that my teeth are in good condition.  A few weeks ago, I received my reminder appointment postcard in the mail that I had an upcoming appointment.  Surprise surprise, I booked it smack in the middle of my busiest time of the year and would have to leave a little “early” (6:45pm to be exact) to make my appointment.  One of my coworkers honestly asked me where I really was going.  It started to make me wonder that people did not believe me that my dentist is open to 8pm on week nights.  My dentist has his own independent practice in Watertown, MA and employs mostly local dental students to do the general office cleanings.

It started to occur to me that maybe people just choose not be to on the typical six month schedule because they do not really want to pay for it, they do not have a good dentist in the area or that their dentist just does not have convenient hours for their schedule.  I asked a few of my coworkers where they were going to the dentist and got some mixed reviews.  Most of them do not have a dentist in the area nor are even going to the dentist on a constant cycle.  Yet the majority of them are actually paying for dental insurance – just in case.  Seems silly to me that you would be paying for something and not even using it. If you have it – even for just in case purposes – why not find a dentist in the area and make an appointment for a routine checkup?

Whether or not you have dental insurance, one way that I would suggest to keep those costs down are to go to dental students.  Boston is home to three well-known dental schools and their students have clinics all day long.  If you wanted to keep your costs down, I would suggest checking out one of these schools to make an appointment:

Or find an independent dentist, like mine, who is looking for new clients.  Be upfront when you call and ask if they are accepting new patients and ask about pricing.  You are not trying to nickel and dime them, but you should be aware of the out-of-pocket costs versus the cost if you have dental insurance.

Do you have dental insurance?  If not, why not?

My contribution to the Zoo is these two adorable cats (insert crazy cat lady joke).  I like owning cats because they are low-maintenance and can be alone for a night without an issue.  My cats are brothers and have rather different personalities.  One likes to be in your face and cuddle with you, while the other is very mellow and likes to sit at your feet.  Our monthly costs for both includes food (dry and wet food because they are spoiled), cat treats and litter.  In addition, they go to the vet about once a year for shots.

On the other hand, my boyfriend is the proud owner of the Doberman – who is a 100 pound lap dog who will stand by your leg and violently push you over until you scratch his back.  Then he will be your best friend until you are sick of petting him and he’ll walk away for 2.5 seconds and come back as if you forgot.  He is truly a happy puppy and loves playing with the cats.  Our dog costs are very similar in nature to our cat costs, but instead of the cat litter, we get them poop bags.

If you are thinking about owning a pet, it is good to break down the costs into what you would pay annually for your pet.  While people may have differing opinions on whether or not you can put a price on your pet, it is just to show you in realistic terms what you are paying to have your companion.  In addition, our costs of owning our cats and dog are slightly different than the ASPCA’s chart because we spoil them and buy them lots of toys!  Here is the ASPCA’s breakdown of the annual and capital cost of owning a cat versus owning a large dog:

Based on the ASPCA guidelines, the first year cost of owning a large dog is about $400 more than the costs for a cat.  I would think that the costs would be pretty similar to each other based on how much you spoil your pet.  It’s crazy to think that your pet could cost you upwards of $1400/year.  That’s about $117/month for your pet. Do you think about all the hidden costs of pet ownership when you are making your monthly budget?  If you think that the cost of owning your pet is significant, I think it should be included in your monthly budget.

Note: if you would like to see the ASCPA’s full breakdown of Pet Care Costs, please visit their website to see how they developed their amounts.